“Now, with investors more Bullish than ever on cryptocurrency, interest in the decentralized virtual currency continues to grow. For those who are relatively new to investing, crypto can seem daunting” — Paul Ebeling
Cryptocurrency is a decentralized digital or virtual currency, secured by cryptography, making it virtually counterfeit-proof. It is limited in its supply which helps give crypto value and makes it nearly impossible to counterfeit or 2X-spend.
Today, most buying and selling of cryptocurrency takes place through a cryptocurrency exchange, much like a stock exchange for securities. An exchange is an intermediary between a buyer and seller of Bitcoin or any other type of cryptocurrency.
Early on the general public did not even know about Bitcoin. The only way to obtain Bitcoin was by mining it yourself or through a peer-to-peer transfer with someone else. Then came OTC exchanges, at 1st unregulated, then more and more regulated as time went on. In Y 2015, the Coinbase exchange was born. Today, Coinbase is among the exchanges operating in the US and globally.
Newcomers to crypto should start with centralized exchanges, due to the ease of use, and then experiment with decentralized ones. There are lots of options, including trading actual crypto, ETFs, and investing in mining companies, including mining ETFs.
Keep in mind that like any type of investing, with crypto, the higher the potential reward, the riskier the investment. This is the reason for keeping your investment in crypto manageable, sticking with trusted exchanges, and getting as much education as possible, no matter your level of involvement.
Have a prosperous day, Keep the Faith!