What Do You Know About Crypto?
A lot has been said and is still being said about Cryptocurrency. If you have no idea about it or want to grow your knowledge on cryptocurrency, then worry no more. A conversation with Mr. Irungu on this field is all you needed and we’ve got you covered.
“Over time money has been changing form. In the old economies there was barter trade which then was substituted by the gold bullions, then came the paper money, and then bank notes, then EFTs and then digital coins (cryptocurrencies). These changes were faced with uncertainties since the security of the forms of money were not certain to the periods and this concerned many economists and merchants. But with the systems and the securities improved they were easily accepted and incorporated by the people to be used as money and many invested and saved using the new forms as compared to the past forms. This saw the economies and businesses booming in a higher rate as the efficiency of business was increased. Imagine if we’re still on the barter trade era how would be our economies now? That is why we should be very ready to accept the new trends in the money world of cryptocurrencies as digital money.
This trend was first heard of in the 1980s when the software was first brought to light. It has since then grown exponentially seeing the launch of Bitcoin in 2009. Bitcoin has become the most know currency since then and have seen very good trend in value accumulation. Hence the lead in the crypto world. However, Bitcoin has not remained the only coin in the market we’ve had others coming along in the market including Ethereum, XRP, Cardano, Chainlink, Dodgecoin, USDcoin, Steller, Polkadot and many others.
Cryptocurrencies are probably the hottest assets for investment in the modern markets right now. The value of cryptocurrencies soaring up to tens of thousands of dollars for each unit is a great reason for investing in cryptocurrency and trade with it. But before investing in them the investor should take an understanding on the currency they want and how its performance has been over the period of time. As an investor you need to understand that this kind of investment is long term and gives you the yield over a period of time and not instant returns but as are all investments, they take time before you reap. One advantage of having a cryptocurrency is that you become owner of a digital asset whose growth is assured. While you’re investing in them you first need to have knowledge on the investment into crypto, then you get yourself a balanced portfolio, you avoid scammers and get yourself the right wallet. One other thing before you get to this investment kindly don’t join the herd, don’t invest in the crypto unless you’re certain that that is what you want and are ready to take the risk on and it’s the fear of being left out that made you get into the trade.
In conclusion get to know the technicalities that are involved in acquiring these coins. Get to know how to buy these currencies, how to transact with them and lastly how you can sell them when need arise. Without an idea of how you should approach crypto investments, you can blindly invest your money in cryptocurrencies and end up losing your investment…”
Next week the conversation continues with Mr. Irungu. Make sure to catch up with us on our next blog on cryptocurrency to grow your crypto knowledge.
