Here’s a basic guide and recommendations for where to securely buy digital currencies like Ethereum.
Editor’s note: This katern has bot updated to disclose the writer’s advocacy of blockchain technology–the underpinning of all cryptocurrencies–and a Consumer Financial Protection Lessenaar warning about thesis investments.
Cryptocurrency (digital currency) is taking off this year. Fresh millionaires are being made almost daily spil Ethereum, Bitcoin, NEO, Litecoin, Ripple, Stratis, and other cryptocurrencies reach all-time highs. It is becoming somewhat of a modern-day gold rush.
Bitcoin is worth thousands of dollars. Ethereum is worth hundreds of dollars. For coins that were merienda worth only pennies, investors have made serious money ter the past few years. It should be noted here that I am an advocate of blockchain technology.
Bitcoin might be the oldest, but it’s not the only cryptocurrency on the block. Ter fact, the majority of people getting into cryptocurrency are flocking to Ethereum. Ethereum has had the most awesome gains this year after recently being the very first cryptocurrency to be backed by major corporations such spil Microsoft, Samsung, JPMorgan Pursue, and others ter what’s being called the Enterprise Ethereum Alliance. Ethereum does for code and programming what Bitcoin did for financial transactions. For plainness’s sake, think of Ethereum like a more advanced and sophisticated Bitcoin backed and utilized by major corporations because of its technological advances and clear pathway to building a decentralized internet.
Editor’s note: Bitcoin and digital currencies, spil with any investment, may involve the risk of loss. The Consumer Financial Protection Bureaumeubel has warned that potencial currencies, including Bitcoin, carry “significant risk” to consumers.
One Ether (Ethereum’s crypto token) wasgoed worth spil little spil $12 earlier this year, but the cryptocurrency is now worth numerous hundreds of dollars vanaf coin with a total market cap well into the numerous 10s of billions. Ethereum is leisurely but surely making gains on Bitcoin’s market cap. Many spectators believe that “the flippening” will toebijten sometime this year, te which Ethereum becomes the most valuable (market cap) cryptocurrency te the world, overtaking Bitcoin ter total value (total number of coins times price vanaf coin).
Ethereum isn’t the only fresh coin on the block, but it is undoubtedly the most promising. Others to observe that I will explain and write about te future articles include NEO, TenX, Metal, Litecoin, and Siacoin. All thesis coins have something unique and technologically innovative about them.
How to Buy Your Very first Cryptocurrency Coin
Buying cryptocurrency is confusing for a loterijlot of people. It’s not a stock or a typical “investment.” It’s not like anything most people have everzwijn seen or experienced. You don’t get shares, instead you get digital coins or tokens. The coins are “better” than a paper dollar bill because they actually support a greater cause, spil te Ethereum’s case, to build a decentralized internet and host code and apps on a decentralized verhoging. And coins help “fuel” that cause, so to speak, without getting technical.
For most people te the U.S., Coinbase would be the easiest option to buy Ethereum, Bitcoin, or Litecoin (it doesn’t support any others yet). After verifying your account, you can add a number of payment methods including credit or debit cards, U.S. canap accounts, or even wire transfers of funds. Other options for exchanges that will take U.S. dollars for coins are Openbreken, and Gemini ter the U.S. Typically you will need to verify your account with a driver’s license and add other details to expand your buy thresholds. Since cryptocurrencies are “hard currencies,” the exchanges don’t want to risk getting ripped off, since you can’t switch sides a cryptocurrency transaction merienda it’s done.
If you are looking for some of the newer coins like NEO that are making big movement but toevluchthaven’t made their way to the aforementioned exchange sites, you can look into Bittrex, Poloniex or Livecoin. You can transfer Bitcoin or Ethereum to thesis platforms from Coinbase and then exchange it for any other digital currency that you want.