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5 things to know before considering cryptocurrencies
01:26 Mins Read
This video discusses some important things aspiring crypto investors should know.
Considering investing in cryptocurrencies? Here are some key things to know. Firstly, crypto is hard to predict, and very volatile. That’s why it’s tough to identify any patterns in the rise and fall of cryptocurrency values. Secondly, timing is particularly crucial for cryptocurrency investments. This is because the value of digital currencies moves very quickly. Another thing to note is that there are different types of cryptocurrencies. Like Bitcoin, Ethereum, Binance Coin, Cardano, Dogecoin, Litecoin, and Ripple. You also need to know about cryptocurrency exchanges. Just like stock exchanges, these platforms help you buy and sell digital currencies. Lastly, you need to watch out for scammers. Given how relatively new it is, crypto technology still has many questions to answer about its security. Another up and coming investment avenue is startup investing. Find out more about this in the next chapter.