Every few years an investment opportunity comes along that becomes a milestone in the history of investing. In the early 2000s it was the dot-com boom. Now it’s the cryptocurrency market. Just as in the dot-com days, the market is marked by incredibly growth as well as some products that go awry.
Many analysts state that crypto investing presents an amazing investment opportunity particularly for millennials.
Just as in any prior boom period, it’s important to understand what you’re investing in and how the market works.
Which options are available for investors?
When someone talks about cryptos most people immediately assume they are talking about Bitcoin. Bitcoin was the first crypto to appear and one which has gathered the most mainstream media attention. Just a year ago Bitcoin made up about 90% of the total crypto market share. Today Bitcoin accounts for less than 40%.
Many investors opened accounts on one of the exchanges which specialise in cryptos. The exchange market is rather complex with each offering different security levels, fees, coin storage and advice.
What is the impact on exchange rates?
One of the trademarks of the crypto marketplace is the soaring exchange rate. It is not unusual to see a crypto increase in value by over 1000% in just a matter of months. One thing new investors need to take into account is that a great deal of the changes in the exchange rate are the result of speculators in the market.
Most experts predict that once cryptocurrencies are better understood and established that the volatility will decrease.
Why TransferGo could be a solution for those interested in buying/selling
One of the best pieces of advice for any investor is to work with experts who understand the marketplace. TransferGo offers their customers to ability to buy and sell a variety of cryptos via the TransferGo app. TransferGo understands the crypto marketplace and the technology behind each cryptocurrency. The blog regularly publishes articles about cryptos, along with other currencies, to help our readers understand such topics as cryptos, FX, and various world currencies.