What is cryptocurrency?
Cryptocurrency Information and Support is basically electronic digital money. It only exists electronically. There are no coins or bills to handle unless you want to cash in cryptocurrency for physical coins or tokens to use a service. You can handle all transactions through the internet using your computer, or your phone. No banking required. Although there are many cryptocurrency brands that are created, the most popular is Bitcoin. Go Here for more Information!!!
Cryptocurrency Information and Support
You can acquire cryptocurrency through exchange platforms. There you can purchase the amount you wish to invest using your computer. You can also earn cryptocurrency through mining. Quick payments can be made so as to avoid banking fees and additional charges. This is becoming the way to go. There is some anonymity. Investments can be made just like stocks and bonds with the hope that the value will go up.
Cryptocurrency Information and Support / Storing Your Investments
Best place to store your cryptocurrency investments is in your external hard drive or in your computer, using a digital wallet. Me, I prefer an external hard drive. You never know when your computer could crash and you could lose all records. With high technology, there are so many out there that could literally compromise or steal your passwords to your digital wallet. So make sure you check to see who you are sending this digital money. You don’t want to send it to the wrong person. In the event that this happens, there is no turning back since you do not go through a bank.
Cryptocurrency Information and Support
Differences Between Cryptocurrency and The U.S. Dollar
The main difference between crypto and the US dollar is that once you invest in Cryptocurrency through a third party, there are no guarantees. The government will not back you up. Cryptocurrency accounts are not backed by any government.
Should something go wrong, God forbid, you need to know that Cryptocurrency accounts are not insured by any government. If the company goes out of business or if the companies computers are hacked, no government will go in to get your money back. In other words, this is like the stock market. If the value of the stock goes up you can make a profit, This can happen with cryptocurrency.
Values are constantly changing just like the stock market. The value can change from one minute to the next. Every minute of every hour of every day, week or month, values change rapidly. Changes depend a lot on supply and demand and events going on throughout the world.
In Closing
Bottom line, like I said. This is like the stock market. You are taking a risk when you invest. Yes, you can make a lot of money if the market goes up. But just as it goes up, it can come down with a matter of minutes or hours. I all depends on the events going on in the world. Also, if you place you money in a bank it is insured and protected. However, your investments in Cryptocurrency can be very profitable, but should something go wrong, your money is not protected. That in a nut shell if the difference. As for me, I am investing, but not for the short term. I’m investing for the long term. Once I put my money into Cryptocurrency, I leave it there for a long while. I just keep an eye on the economy and events going on in the world.
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