4 Tech Tips Before Investing in Cryptocurrencies
September 1, 2018
Cryptocurrencies are defined as a decentralized cryptocurrency that is used as a currency in electronic transactions, cryptocurrencies have really changed our usage of currencies and how people pay for items and invest in markets. We’ve noticed the skyrocketing popularity in the drastic price increases of over 1000% from less than 1,000 dollars in 2016 to almost 20,000 in December 2017, the sudden surge in value caused people to start putting their money into cryptocurrency investments. To this day, hedge funds, banks, normal investors falling victim to the fear of missing out are now trying to get into the cryptocurrency rage.
Now is cryptocurrencies (and cryptocurrency icos) good options for investments in 2018? We’ve written this great article with 4 tech tips to look into before investing into a cryptocurrency.
As of now, the most defining chrematistic of cryptocurrencies are their resemblance to bubbles, world economists have called Bitcoin the “Mother of all Bubbles”, and for sure, Bitcoin has certainly for a while gotten larger than the dot-com and tulip bubbles in the 2000’s and 1500’s Netherlands, this is essentially a truth for practically all market analysts, many of whom have been completely going bananas over the potential “end of the paper and check” based world, however, those who have studied cryptocurrencies in-depth will know the truth of the situation and not panic. The new investment opportunities created have been endless and will continue to be endless.
The most basic tenet of cryptocurrencies to understand is the importance of security.
One of the most serious problems in cryptocurrencies are data security, in the recent news, we’ve seen the effect of attacks on exchange platforms like Binance which led to the theft of assets worth millions of dollars. Make sure to understand this fundamental tenet.