Crypto time

Crypto currency is not something new, obviously but have you actually tried it? If you have you can skip this post now, but if not you might want to read.

As Wikipedia suggests, cryptocurrency is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. You may ask why do you even need to know that. Shortly, it’s an opportunity to invest to. Cryptocurrency tends to grow over time. Let’s take Bitcoin which is the largest cryptocurrency today. In early 2016 you could buy one bitcoin for around 450 USD. Do you know what one bitcoin will cost you today (2019)? About 10,300 United States Dollars. Think about it. I am not saying that in 3 years from now its price will quadruple, no but take a minute and google bitcoin rate since about 2015. It’s had it’s ups and downs an even peaked around 20,000 USD(!) once but overall cryptocurrency grows.

So, in case you find yourself interested you will probably ask yourself how do you buy it and where do you keep it? Well, there’s no single answer. There’s a bunch of companies that trade cryptocurrency and those who provide wallets to store it and even those who provide both, trade and wallet. Let’s approach it step by step.

To put some currency into a wallet you first need to buy some. One of the most popular places to do that is CEX.IO As a newbie in cryptocurrency field you can buy using their brokerage service. Even though it will cost you a bit more, the process itself is pretty simple. On the other hand, you can spend some time to learn more about crypto trading and then buy currency using trading platform. The process in this case is not as straightforward as buying with brokerage service but you can save well on commissions. You can learn more info on their website