More than 20,000 cryptocurrencies have appeared on the market in the past nine years; the expert says most are not safe for investment
Have you ever heard of cryptocurrencies? They are digital currencies that work through a technology called “blockchain”, which records and stores financial transactions via the web. Furthermore, cryptocurrencies are decentralized. This means that they are not issued or controlled by any body or government, only by the users themselves.
As a result, research and interest in cryptocurrencies has only increased in the past few years. Today they are already there more than 20 thousand types of digital currencies available on the market, and with thousands of them traded around the world, getting as much information about assets becomes essential to knowing which one to invest in.
However, according to Bernardo Pascowitch, an expert on the subject, the great most of these coins are not safe for a good investment.
“As in any new market, we have good and bad assets, so it is important for investors to know most of these coins are very small and shouldn’t last long on the market. In this way it is necessary to analyze safety and good projects when investing “, analyzes Bernardo.
How to start investing in cryptocurrencies?
Cryptocurrencies are part of a new reality increasingly present in the financial market. Bitcoin, for example, was the first cryptocurrency in circulation in the world and is still considered the strongest on the market today.
To invest in an asset, you can buy fund shares cryptocurrencies or trade them directly on a exchange, which are virtual currency exchanges. it is also possible investing through ETFs (Exchange Traded Funds), which is an investment fund traded like shares on an exchange.
And just like investing in stocks, the cryptocurrency market is volatile and can have a high price variation. Therefore, it is not a recommended type of investment for investors with a conservative profile.
So, before investing in a cryptocurrency, study the market and how it works. Look for expert reviews, get to know the major currencies and research their valuation. This way you will invest your money more securely and avoid possible losses.
Source: Bernardo Pascowitch, founder of the investment search engine Yubb.
Source: Terra
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.
