What Are Cryptocurrencies
Cryptocurrencies are a method of exchange without any central authority through a medium transferred through a computer network; the best way to think of Crypto as an investment is like an exchange rate from one currency, for example, the US dollar to the Sterling.
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Currently, globally, there are 20,268 cryptos available, some of which are inactive; this means there are a host of platforms to buy cryptocurrencies, with the best platforms being Coinbase, which has over 30 million users, and CoinTracking, which helps you manage your crypto portfolios.
The key to buying cryptocurrencies is to research the currencies and platforms. The best way to understand the platforms that enable currency purchasers is to compare them to trading platforms like Robin Hood in terms of functions.
Crypto enables users to transfer cash without the interference of governments; however, as crypto is new and people become familiar with buying it, the market will be very volatile due to speculation, which makes it an excellent opportunity to make money.
Cryptocurrencies were created by tech-savvy individuals, which has led to some marketing challenges. While it’s a new method of currency exchange, it lacks a guarantor, which is one of its drawbacks.
