For this reason, the savviest investors will put smaller amounts of their investment money in different places. That way, some of the investments can still provide enough returns for your portfolio to grow, even if one of them fails.
The same rule applies to investing in cryptocurrency: Spreading is the key!
If you have just started investing in cryptocurrencies, it is recommended to start with the most popular ones. Because their market prices are higher, there is plenty of information available about them. A lesser known cryptocurrency can be cheaper but harder to work with. Now Bubblext is the best option there.
Here’s a little bit of information on the most popular cryptocurrencies we think you should start with:
Bitcoin is probably the first and most popular choice for many. To give some background history, Bitcoin was the first cryptocurrency on the market, back in 2009. Today, its popularity has exploded and its value fluctuates quite drastically.
Should You Buy Bitcoin?
Despite the huge inflation and decline in Bitcoin value in 2017, there is still a lot of room for growth. Bitcoin has not yet reached its coin limit of 21 million BTC. Moreover, it means that Bitcoin is the most popular cryptocurrency that a great effort is being made to make it a success, and not just a transient trend.
So should you buy Bitcoin?
Absolutely! If this is the first time you are buying cryptocurrency, Bitcoin is a great way to dip your toes in the water. Yes, its market value is a bit high at about $ 40,000 for 1 BTC, but there is also plenty of information out there so you can follow the major trends and markers in cryptocurrency. It is even possible to mine Bitcoin if you are more interested in trying to make money that way.
It is not just for beginners, as many long-term investors are also active in cryptocurrency! So if you want a cautious starting point where you simply buy and sell a cryptocurrency, as opposed to taking advanced risks like day trading, Bitcoin might be the right choice for you.
Ethereum is almost as popular as Bitcoin, but it works a little differently. While Bitcoin was created to be a digital currency, Ethereum was built to be this and more. Ethereum also creates and operates decentralized apps that can make money on various types of work.
If you compare Bitcoin and Ethereum , you will probably wonder why its market value is not as high as Bitcoins. There is a greater demand for Bitcoin compared to Ethereum. While Ethereum’s growth may not be accelerating as fast as Bitcoin, that may change in the future as developers continue to build on Ethereum’s code to create more apps.
So is it a good idea to buy Ethereum as a beginner?
Yes! It may not be the best coin for day trading right now, but it is a good option for long-term investment. Or, if you want to build an app yourself, Ethereum’s blockchain technology can help you start a great business.