A Must Read Before Using Any Digital Currency

What is Digital Currency?

Digital currency otherwise called Cryptocurrency are a type of currency that are created and held electronically. It is an electronic money.

The world is already becoming a global villiage as you can see

Cryptocurrency are currencies created in such a way that they occupies less space as compares co our fiat or paper currencies. And in most cases they are much more vallued.
It is a type of money that can be used between two parties for a transaction without requesting the service of a middleman.

Types of Cryptocurrency

The market is so large and therefore, there are several coins available in the market.
But majority of coins will jump into obscurity.

But before investing in any coin, first ask yourself the type of coin you are about investing on.

well this thing could look a little confusing...

Flip: 

This simply means to buy a crypto asset coin during an Initial Coin Offering (ICO) and quickly sell it out gain before its value dumps.
During an ICO there is usually a low price in overal cost .

This is done simply to get more clients and customers to know about them since there isnt any central controlling body that is going to advertise them.

Shitcoin:

This is an altcoin that has no real use or future.

That does not mean that you cant still trade them and profit. 
be under no illusion , even if it rockets in price, a shitcoin will always remain a SHITCOIN .

One day it will crash and varnish from the earth. 
So if you are investing in shitcoins, then get ready to loose one day.

Scamcoin:

This is the worst coin ever. 
This coin has no value, and hence can't be used for anything. Its purpose is solely to scam innocent investors.
Infact, it is not identified in the market.
Do not buy this type of coin for any reason.

The best advice is not to buy any coin not identified by coinmarketcap.

Real Coins 
They are coins that are already recognized in the market. The are coins listed on the Coin Market Cap. They are known as full fledged money and a legal tender. 

Buying, storing and trading such coins as these is has no side effects. It is lucrative. 

Cryptocurrency to trade on, The Biggest 3

Eventually, they may not be the best  Cryptocurrency to invest on.

But I personally developed interest in trading them due to their behavior and durability in the marketplace.

1. Bitcoin: As it is, Bitcoin will still remain the boss of all Cryptocurrencies. I personally trade on this coin on a daily basis.
Buying and selling bitcoin could be very rucrative. 

People are already making millions of money on bitcoin trading, especially in long-term trading.

The good thing is that it has already been used on many exchanges and accepted in most cases as a firm of payment. 

So the possibility of it disappearing into thin air is very narrow. 

2. Ethereum: This has been my number 2 favourite crypto, with billions of Market Cap Value. In fact, it is one of the fastest growing Cryptocurrencies. It has a high market demand. It is also traded on various exchanges.

3. Bitcoin Cash: This asset was created from the popular bitcoin technology. The asset has already shown a significant increase in its demands in the market.

It is very lucrative to trade on as price of it keeps increasing. 
A Must Read Before Using Any Digital Currency A Must Read Before Using Any Digital Currency Reviewed by Godwin Akpan on December 21, 2017 Rating: 5

1 comment:

  1. You may have heard of Ether and Bitcoin. They both are crypto currencies and use the Blockchain Technology for highest security possible. Nowadays, these currencies are available in several types. Let's know more about it. ethereum

    ReplyDelete

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