“Crypto investing can be a learn as you go investment experience, so begin to learn“–Paul Ebeling
The cryptocurrency market is dominated by Bitcoin (BTCUSD), but there are many other competing digital assets, called alternative coins, or altcoins. With so many alternatives out there, investors need a clear idea of how each altcoin differs from Bitcoin and what it can offer in a portfolio, so, follow us in this column for continuing information on this revolutionary investment sector
1st having the proper security features in place from the beginning, and investing through a dynamic platform that anticipates the future of crypto, will help you confidently grow your portfolio as an investor and gives you the flexibility to explore and expand your knowledge and your assets all in 1 place. We are that place, open your account now.
New uses for crypto are regularly emerging within the culture.
For example, non fungible tokens, or NFTs, have redefined and restructured the concept of art with the introduction of digital tokens that are bought exclusively with crypto.
While you may not have a desire to own an NFT (yet) this crypto usage may have implications in the way you participate in the world, not just investing, in the future. For example, fine art ownership is a is on a parabolic growth curve.
Your learning curve
Investing in crypto may be like learning a new language. While there is a lot you can learn as you go, it is Key that investors know where their crypto is and how to access it.
Unlike a traditional investment portfolio, where you may create a password, your crypto is accessed through a public key and a private key.
The public key is like your address it’s how crypto can be sent and received. Your private key gives you access to that crypto. Your key is your most precious asset when you own crypto.
If someone else gets a hold of it, then they have access to your assets. That is why it can be problematic to keep your key on an online exchange.
While some online exchanges may “hold” your key for you, keeping it on an exchange could make you vulnerable to security issues or hacking.
Because your key is so precious, crypto investors often prefer keeping their key off the cloud.
An unhackable hardware wallet, this isolates your key and your phone and/or computer, which are vulnerable to hacking.
Digital assets were once a fringe investment that has exploded into the mainstream. Not only are everyday investors considering creating a crypto portfolio, but banks and public and private companies have added crypto to their balance sheet, bringing it in the mainstream.
Crypto is different from other assets. Anchored on the blockchain, a decentralized database that cannot be destroyed or tampered with, owned by everyone and no one crypto has different security best-practices than other investments.
That’s why it can be a good idea to make sure you understand the special security considerations noted above that come with owning crypto before buying it.
Having smart security practices in place from the start can provide fewer headaches and more opportunities as you grow and learn about crypto.
Have a prosperous day, Keep the Faith!