Buy cryptocurrency – BitCoin, BitCoin Cash, Ethereum, Litecoin, Dash, Ripple, Zcash or Binarcy Coin: They are considered the answer to traditional means of payment. Through the digitalization and decentralization of money, banks become superfluous. Only buyers and sellers are responsible for the control and security of their digital money. You want to invest in Bitcoin & Co. too? We have an overview of the most popular cryptocurrencies here. If you want to invest, buy and sell for the first time, read more about cryptocurrency investment strategies here.
Cryptocurrency is nothing more than digital money. Here, all the important data around the holder and transaction is encrypted and stored. Instead of storing all this on just one server, the transactions are found in a decentralized network – also called: The Blockchain. This technology makes transactions faster, more secure, and less expensive than they would be otherwise. Sounds like the future? Read our analysis here: cryptocurrency development.
No investment advice or purchase recommendation!
All information provided here does not constitute investment advice or a recommendation to buy. All statements are my general published opinion. I have obtained the information from my experience as a private investor. This experience report cannot and is not intended to replace personal investment advice from professionals.
Owning and trading cryptocurrencies brings many advantages. Transactions take place directly between the buyer and seller. It is a decentralized network. So, unlike a bank transfer, exchange and bank fees are eliminated, as are transfer limits and unnecessary waiting times. Bitcoin trading is therefore not only uncomplicated, but also anonymous and secure. Instead of the own name, all crypto assets are managed with an identification code. The blockchain technology also ensures that transactions are constantly checked in advance, making any manipulation and forgery almost impossible. Learn more about the technology, course and trade explained here: BitCoin, cryptocurrency & blockchain.
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The cryptocurrency Bitcoin is now a household name. It is the most popular, but by far not the only one. In the meantime, several new creations have emerged. Some of the others are Bitcoin enhancements. Thus, there are now over 4,500 cryptocurrencies. While that sounds like a large amount, only just under 100 of them achieve a daily trading turnover of $1,000 or more. Other popular cryptocurrencies are Ethereum, Ripple and Litecoin.
Cryptocurrencies – List
Here you can find a selection of interesting digital currencies:
So now you know what the blockchain technology is, what cryptocurrencies there are and what advantages trading Bitcoin and Co. brings with it. Finally, you will get all the important questions about trading with cryptocurrencies answered:
Which is the best cryptocurrency?
The best cryptocurrencies include the classic Bitcoin, as well as IOTA, Ripple, EOS, Litecoin, Binance Coin and Tether.
Which cryptocurrency has a future?
According to forecasts, Bitcoin, Ethereum, Ripple and NEO have the most potential to increase in value in the future.
Are gains from cryptocurrencies tax-free?
The speculation period for cryptocurrencies is one year. If a profit of 600 euros or more is made during this period, the total profit must be taxed. So if the coins are left in the wallet for at least 12 months and only paid out after the speculation period, no taxes are due.
Should you invest in cryptocurrency?
Only invest in cryptocurrency if you are familiar with blockchain technology, different currencies and wallets. After all, this is a decentralized network based solely on demand. So always be aware of the risks and only invest if you are really sure and familiar with cryptocurrency trading.
Cryptocurrency: reading tips
Trading App: Recommendation
Trading strategies
Trading App: Recommendation
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Whether it’s crytocurrency, currency trading, stocks, commodities or precious metals, these 3 strategies will help you understand the basic stock market game. I developed these 3 strategies to help beginners and novices understand the mechanics in a nutshell. Since I grew up with Bitcoin rather than stocks, here in particular a strong reference to digital currencies. But the mechanisms or strategies are the same for these 5 investment types: crytocurrency, currency trading, stocks, commodities or precious metals. I would exclude ETFs and index funds, as the risks and price fluctuations are significantly lower here.
Did you already know? Open transactions in the blockchain
Cryptocurrency itself is, simply put, a coded chain of data. The so-called blockchain.
How does cryptocurrency work?
Everything is set up as a P2P network (peer-to-peer). Data is therefore stored in a decentralized manner. All data blocks are linked to that of the predecessor. Within this distributed database, all transactions are actually known!
The whole thing is therefore a network in which cryptographically signed messages are published – technical term: blockchain. You want to have a look at these transactions? Here you can see live how individual trades sometimes sell up to 100 Bitcoins and how sums in the millions go over the table:
