Well, first we should start with the basics.
What is the cryptocurrency?
cryptocurrency is a virtual currency which we can use as a physical currency.
How we can use those currencies?
We should have a wallet to receive or send this virtual currency. The wallet can be an online wallet or an offline wallet. If you want to send an amount of currency, you can do this using the wallet, and same as that, you can receive currency as well.
So, what are the popular online wallets?
So, what are the popular offline wallets?
How can we see the current value of the currency?
If you own an online wallet, then you can visit the wallet and know the current market value. Or else you can use “Coin Makert Cap” to see the current market values.
How can we buy the cryptocurrency?
Simply, we can buy cryptocurrency through exchanges and we can buy through the direct sellers from like eBay
So, let’s talk about our point.
Can we rich, if we invest cryptocurrency?
Yes, you can. if you are willing to buy some cryptocurrency. This is the right time to buy. In last year (2017) we had a big pump of all cryptos and after that, it becomes a huge crisis. So that’s why I assume as this is the right time. Crypto market will get some more time to shoot the moon. If you are willing to buy crypto, you have been a good patient person. As I feel, it will take more time than two years. This investment is a long-term investment.
Most of the people are focused only on “Bitcoin”. Because cryptocurrency trend is starting from bitcoin, But I am glad to say, bitcoin is not an only a coin to invest.
Why am I saying like this?
Because now BTC (bitcoin)value is around $4000. So, if you want to buy one bitcoin, you should spend $4000 for one bitcoin. You can go with other options as well.
So, what are the other options?
There are a lot of good currencies attached to this crypto race and they are cheap at this moment. Refer to the following samples.
Let’s assume you are going to invest $1000 and below that you can see the current price of cryptocurrency (09-12-2018)
1 BTC (Bitcoin) = $3500
1 XRP (Ripple) = $0.30
1 ETH (Ethereum) = $92
Lest see, if you willing to buy BTC for $1000
0.2857 = $1000/$3500
You can get BTC around 0.2857. So, it means you own 0.2857 amount of BTC
Lest see, if you willing to buy XRP for $1000
3333.33 = $1000/$0.3
You can get XRP around 3333.3. So, it means you own 3333.3 amount of XRP
Lest see, if you willing to buy ETH for $1000
10.86 = $1000/$92
You can get ETH around 10.86. So, it means you own 10.86 amount of ETH
This how the prices went during the last pump in 2017
1 BTC (Bitcoin) = $18500
1 XRP (Ripple) = $3.8
1 ETH (Ethereum) = $1350
So now you see the following amount of cryptocurrencies that you have already owned as you already invested $1000.
Now let’s recalculate the cryptos according to the end of last year pumped price in 2017.
$5280 = $18500 * 0.2857 BTC
$12666 = $3.8 * 3333.33 XRP
$14661 = $1350 * 10.86 ETH
If you invest to $1000 to BTC, then you can earn up to $5280
If you invest to $1000 to XRP, then you can earn up to $12666
If you invest to $1000 to ETH, then you can earn up to $14661
I think now you can understand the point which I’m trying to clear.
When you do this investing, you have to consider how much currencies you are getting with your investment. that is the most important thing that you have to keep in your mind.
So, what are the best currencies to invest?
Simply you can go to the “Coin Makert Cap” and find good currencies by yourself. All the currencies are listed according to ascending in the current market capitalization. Every currency has a white paper note and you can find more details about them. So, now you can go ahead and take this opportunity to grow your income. Wish you all the best!