How Can People Use the Internet to Get Involved with Cryptocurrency?

Aadhya Khatri - May 21, 2020


How Can People Use the Internet to Get Involved with Cryptocurrency?

People can harness the power of cryptocurrency via the Internet. So, how can people get involved with cryptocurrency?

We’ve heard a lot about cryptocurrency – especially since the boom in 2017 – but many people are still unsure how to actually do anything with it. May 22 is often known as Bitcoin Pizza Day – commemorating the fact that in 2010, Laslo Hanyecz paid 10,000 bitcoin for two large pizzas – which would be the equivalent of $80 million today. The day serves to remind people of how far cryptocurrency has come and how it has increased its value. It is also aspirational, showing how people might be able to harness the power of cryptocurrency themselves. So, how can people get involved with cryptocurrency?

cryptocurrency man
We’ve heard a lot about cryptocurrency. Source: Pixabay

Trading Platforms

Cryptocurrency presents an interesting proposition when it comes to trading. The rise of apps for trading means that people can begin trading journeys with fewer barriers in their way. The fact that cryptocurrency is not tied to a central bank means that while often volatile, it can also be more secure than some established currencies.

As the crypto platforms that allow you to trade online show, people are using the intrinsically volatile nature of cryptocurrency to complete their investment portfolios. Online platforms can be used to help balance risk with reward to help intrepid traders achieve results when trading cryptocurrency. Getting into cryptocurrency through online trading allows you to understand how it works and how the basics of blockchain work.

The more people that trade cryptocurrency online, the more legitimacy it will have for wider uses. For instance, a Bitcoin ATM popped up in Bengaluru, India. The inherent value of cryptocurrency is tied to how many people use it and how reliable it is. So, the more investment opportunities available result in greater benefits for those who want to invest and get involved.

Blockchain Cryptocurrency
Cryptocurrency presents an interesting proposition when it comes to trading. Source: Pixabay

Invest in Start-Ups

Some of the most profitable and successful companies today were start-ups once upon a time – from Airbnb to Bitcoin itself – so investing in an ICO (initial coin offering) could be another way to get involved with cryptocurrency without diving in too deep. By investing, you essentially purchase a new type of digital token in exchange for established cryptocurrencies.

This form of investment was originally only available for venture capitalists and those with a professional interest in investment. But, thanks to cryptocurrency it has been opened up to almost anyone. Cryptocurrency creates an accessible way for people to invest. The tokens you purchase can often appreciate in value as the start-up does, much like a cash investment provides a return.

For example, one of the most successful ICOs has been NEO, known colloquially as ‘China’s Ethereum’. The blockchain smart contract applications of NEO have seen its price rise from 3 cents as an initial token to $180.

Cryptocurrency is undoubtedly here to stay, and its uses are expanding far beyond being an alternative to traditional financial measures. The underlying blockchain elements of Ethereum, for instance, can be used to create secure contracts, while Ripple is helping expedite cross-border transactions. UNICEF is even accepting donations on the Ethereum and Bitcoin blockchains. The internet and digital opportunities it provides means that there are many ways in which you can get involved with cryptocurrency at a basic level, at a rate that you’re comfortable with.

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