Many people wonder how to invest in cryptocurrencies. The most dynamic and widespread is to do it online, since there are many places where the coins are exchanged. In order to save virtual currencies, it is necessary to have a purse or purse. To do this, you have to install the software on your computer or phone and you get a unique address, as if it were an email, where you create digital signatures and verify the identity for access to the portfolio.
One of the most known places is Coinbase, where you can change any currency (including the euro) for a virtual currency. Let’s say it is an online bitcoin wallet to buy, sell, send, receive and store bitcoin. The main feature of this virtual wallet is that it is possible to convert the bitcoins into dollars or euros to avoid drops or rises in the price of this cryptocurrency. They apply a commission of 1% to transfer from bitcoin to your chosen currency and vice versa.
It is valid in Europe, the United States and South America, being in several languages (English, Spanish, French, German, Italian and Portuguese). The refund of money can be made by bank transfer and in that case does not charge commissions.
In CoinCorner you have to verify the card before you can use it, through a small transaction that is charged to your account, and then you enter it to verify the amount how to store cryptocurrency,
Coinmama offers a wide range of payment options including Western Union and cash payments.
247Exchange allows you to buy bitcoins and also many other currencies with the option of instant purchase by credit or debit card. The site is available in English and Spanish.
So, to buy virtual coins can be done through the places that I just commented or others (Localbitcoins, Bitso, Satoshi Tango, Ripio, Virwox, Coinnimal). The most common is to buy bitcoins and then transfer it to the cryptocurrency that you want through an exchange page such as Coinpayments or through trading such as Poloniex, Bittrex, and Kraken.
Let’s see some things about the most known currencies:
* Hayek: the American company Anthem Vault launched a virtual currency whose main characteristic is that it is backed by gold. Its name is in honor of the Nobel Prize of Economy of the year 1974, the Austrian Friedrich Hayek, which contributed much in the field of the monetary theory with its investigations and works, in which it defended the gold standard, a monetary system that marks the value of a monetary unit in a certain amount of this metal.
The idea with the new currency is that it is valued at one gram of gold at the market price of the day, that is, the value varies and fluctuates according to the daily price of the gram of gold.
Its defenders allude to the fact that it can be a currency with a more secure value than the well-known Bitcoin.
* Bitcoin: was created in 2009 and its popularity was increasing every day, mainly due to its simple management and that does not require intermediaries. Currently use 8 decimals. A peculiarity is that it does not depend on any Central Bank and also cannot create more than 21 million in the world, a detail that implies that it cannot generate an increase in inflation. On the other hand, having a “reduced” number, the change moves a lot.
In fact, this coin became fashionable as a result of what happened in Cyprus. In this country, after the corralito, the control of the flow of capital and the removal of accounts and deposits of citizens, made its use is increased enough among citizens, because no Government or Central Bank can intervene in it, to understand , the currency is exclusively of its owner.
The idea is that the foreign exchange market of Bitcoins resembles currency, that is, prices change all the time according to supply and demand
. Ethereum: the market capitalization of this cryptocurrency is the second largest after Bitcoin. It does not stop going up and marking historical maximums. You can use 18 decimals.
* Dash: this cryptocurrency aims to achieve instant transactions in its network and had a lot of growth during 2016 in terms of application development and technical improvement. This year, he launched the new protocol, which led to its historic peak.
* Ripple: next to Ethereum and Bitcoin is the one with the largest capital supply.
Some tips to avoid scams and problems:
Store the smallest number of bitcoins possible in hot wallets. The cold wallets a very good option.
Encrypt all the portfolios that are held in the Bitcoin wallet.
Check the versions that are downloaded from the purses and their signatures.
Do not download strange things from email with counterfeit domains simulating websites related to Bitcoin.
Very attentive to phishing, which is to create a website similar to any online wallet? To do this, it is worth checking that we have the padlock icon next to the browser URL.
Special mention must be made about ICO (Initial Coin Offering in English) to finance the development of new protocols. To understand us, it is an Initial Currency Offer. It is that many projects related to cryptocurrencies make a sale of cryptocurrencies prior to their launch in exchange houses to finance the cost related to work.
This type of investment is usually very interesting, but of course, there are two risks:
It is impossible to know in depth the projects of each company that use this type of financing. If the project is not ultimately attractive or simply does not succeed, we will lose the money.
A very common fraud is to make believe that we are before an ICO to finance; people invest money and soon disappear these people without leaving any trace and with all the money of investors.