The Basics of Investing in Crypto

If you’re interested in investing in cryptocurrency, the good news is that you’re not alone. The bad news, however, is that investing in crypto can be a daunting task when you first get started, especially if you aren’t sure what to expect or what the best practices are. This guide will help familiarize you with some of the basics so that you feel more comfortable putting your money into crypto and deciding which currency to choose and why.

What is Bitcoin?
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.

How Do You Mine Bitcoin?
Bitcoin Mining is a crucial and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. Miners are rewarded with Bitcoins for each block they successfully mine. The more computing power they contribute, the greater their share of the reward is.

Where Can You Store Bitcoin?
Just the way we keep cash or cards in a physical wallet, bitcoins are also stored in a wallet—a digital wallet. The digital wallet can be hardware-based or web-based. The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys and addresses used for access on paper.

The Future of Cryptocurrency
Analysts estimate that the global cryptocurrency market will more than triple by 2030, hitting a valuation of nearly $5 billion. Whether they want to buy into it or not, investors, businesses, and brands can't ignore the rising tide of crypto for long. But crypto can't seem to escape paradoxes anywhere.

Final Thoughts on Cryptocurrency and How to Get Started Today
It is never to late! Learning by doing i'd say :)