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Cryptocurrency’s Rise to Popularity in the Markets

Cryptocurrencies are the golden token of the 21st century. Everyone knows about it, yet not many people know what it actually is. Basically, cryptocurrency is a virtual currency that has no physical form. Just like any currency, it is worth a certain amount of physical money. In 2008, Satoshi Nakamoto, created Bitcoin, the most popular cryptocurrency in existence. The main difference between Bitcoin and other currencies that had been invented in the past is that it was a decentralized form of currency. There is no Bitcoin bank because it is based on a peer to peer sharing network. Kind of like when you download peer-to-peer shared files. You choose a file, and everyone shares a part of it with you until you have the whole thing.

 

This decentralized system is what made Bitcoin so popular and also what has allowed other cryptocurrencies to rise in the market. Bitcoin was largely used in the underground maker, otherwise known as the black market, because it is untraceable, and no one is controlling it. In 2018, Bitcoin saw its largest market rise ever. If you bought one Bitcoin in 2010 for $50, you would have been able to sell that Bitcoin in 2018 for $15000. The rise of Bitcoin in the market also affected the prices on many other cryptocurrencies, making 2018n the year of virtual money. The sudden rise of Bitcoin made people want to invest in it, so every day more and more people have begun mining cryptocurrencies in order to get ahead in the markets.

 

The ethereum price has also gone up in the last couple of months, but it maintains a steady rise and fall. Ethereum is another currency that was a created by a teenager and launched into cyberspace not too long ago. There are many ways to buy cryptocurrencies. You can use applications like online brokerage applications on your phone or online, and you can also go through a broker in order to buy and sell cryptocurrencies to make money just like you would buy and sell stocks to make a profit. In fact, many day traders and swing traders have been paying more and more attention to these kinds of virtual currencies and their rise and fall in the market.

 

Overall, if you’re thinking of investing in cryptocurries, make sure you do your research first. You may want to buy ethereum or Bitcoin in order to make a purchase with it, or you might want to sell it later for a higher price. If you’re thinking about doing the latter, make sure you’re careful with how much you buy. The market is very volatile in this area and you have to be willing to take a loss sometimes. If you’re planning to hold it, make sure you listen to advice from experts on whether you should hold it for a while or maybe just a couple of months. After all, the market works with predictable patterns, if Bitcoin rose to the top once, it can most likely do it again.

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