Things you should know about before investing in cryptocurrency
Throughout 2019, the interest in cryptocurrencies has been rising. This was witnessed in the rise in the value of Bitcoin from $3,130 in February 2019, all the way to $13,800 in June the same year. Although the value of Bitcoin and other cryptocurrencies has fallen, thanks to the Corona Pandemic, the interest in these cryptocurrencies is still high.
In the wake of the 2008 financial crisis, most millennials are looking for better forms of investment; most of them want to invest in the future. The future is cryptocurrency. However, before you dive in, you need to understand four things as discussed below.
Today, more than 4,900 cryptocurrencies are listed across different exchange media. However, Bitcoin, Ethereum, and a few other major cryptos are the only that reach mainstream media. Market cap refers to the size of a company. Cryptos with a higher market cap is less vulnerable to wild volatility and manipulation while cryptos with a smaller market cap can be manipulated by large holders. Choose the crypto that presents less risk.