ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Personal Finance»
  • Investing in Stocks, Bonds, Real Estate, More»
  • Stocks

Investing In Cryptocurrrency

Updated on January 25, 2018
Tanya Sawhney profile image

Tanya is a journalist based out of California. She writes on business, politics and technology.

The Cryptocurrency Challenge

The future of Cryptocurrencies looks bright especially with the Bitcoin and Ethereum gaining higher values.

These currencies are revolutionizing the way we think about government currency which have central authority whereas cryptocurrencies are secure because they anonymize digital transactions and cannot be counterfeited.

Cryptocurrency is a digital currency based on blockchain which is associated with the internet that uses cryptography, the process of converting legible information into an almost untrackable digital code, to track purchases and transfers. The flow of this digital currency depends entirely on market demand.

Mobile technology in this increasingly developing world makes cryptocurrency highly accessible to everyone. This new currency makes you the owner of your funds, with no third party involvement. You drive the account the way you want to. You can change the terms of your cryptocurrency as per your convenience.

Crypto Boom — Risks Involved

With cryptocurrency being accessible to everyone, people still need to be educated as to how it should be used.

This digital currency is not much different from other commodities, prices are determined basis laws of supply and demand. Cryptocurrency market prices are often highly volatile. Trading and investing in cryptocurrency may have the potential for a big payday but then trading in it is a very new market. It requires specialized knowledge that may be inscrutable to the uninitiated.

With so many cryptocurrencies coming out every new day not all of these will be highly lucrative like the Bitcoin. Because these transactions are highly digitized and irreversible there is very less scope of making a mistake while doing a transaction.

Acceptance plays a major role for the functioning of the crypto market, masses have yet to start accepting cryptocurrency as a form of payment for goods and services.

Overall, cryptocurrencies have a long way to go before they can replace credit cards and traditional currencies as a tool for global commerce.

The excitement around Bitcoin’s price escalation and futures trading has gathered interest amongst new users; people who knew nothing about cryptocurrency a month ago are striving to learn everything they can to begin investing.

As we enter a new year let us take a look at some other cryptocurrencies worth watching.

Ethereum (ETH)
It is the second-largest cryptocurrency in terms of market cap behind bitcoin. Currently one Ethereum is priced at $1,101.5.

Ripple (XRP)
With a market cap of $95.45 billion, one Ripple is currently priced at $1.43.

Litecoin (LTC)
Also known as Bitcoin-Lite the Litecoin which has a market cap of $10.6 billion is currently priced at $194.85.

Finally, like bitcoin, all of these cryptocurrencies are subject to massive amounts of potential price volatility in both directions. After massive run-ups in 2017, the chances of corrections for any or all of these cryptocurrencies are high.

Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge bosses amid the growing competition within the space will only be revealed with time.

© 2018 Tanya Sawhney

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)