In today’s post, DigiNews will be providing you the all detailed information about Cryptocurrency that you should invest in cryptocurrency or not. And some of your questions will be answered but if you have any other queries related to our post you can comment below our post or you can contact us directly through our contact us page. We will be helpful to solve your queries.
What is Cryptocurrency?
A cryptocurrency is a digital or virtual currency that is secured by cryptography which nearly impossible to double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology. In simple words, it can be said it is also a type of currency but only in digital form which you can not touch or have in your hands. You can use this for making any transaction to the service provides who have the facility to accept the cryptocurrency.
Can we invest in cryptocurrency?
If you are willing to invest some amount of money in the crypto market or in cryptocurrency you can invest easily. There are so many platforms from where you can buy cryptocurrency. There are so many websites from where you can create your wallet for cryptocurrency. And after creating your account or wallet on that specific website you can easily buy some amount of cryptocurrency as per your investment amount. But make sure that always do some research or read the reviews about those apps/websites where you will create your wallet for investment as some of the websites/apps are fake and they make scams with their customers. So always be careful while investing your money.
Does invest in Cryptocurrency is risky?
In simple and clear words we frankly tell you that the crypto market or stock market is always risky because all your money you invest in cryptocurrency is fully at risk. This happens because the fixed value for any of the cryptocurrencies is not determined by anyone. As cryptocurrency is not regulated by any government or organization so the value of cryptocurrency fluctuates as the investment in cryptocurrency or cryptomarket is increased the value or price of cryptocurrency is increased and if money is taken out from the market the price falls out very rapidly.
Like you have seen in recent days the price of bitcoin has fallen down so much that all investors are feeling fear of losing money. Because at sudden 500-600 million dollar is withdrawn from the bitcoin market and due to this the price value of bitcoin has fall sudden by so much.
Who Control the Cryptomarket/Cryptocurrency?
The price of cryptocurrency is controlled by large investors because when they invest the huge amount of money the price value increases rapidly and everyone thinks that its high time to invest and many other small investors start investing their money but at sudden the big investor withdraw their money back the price falls down with a huge speed that small investors did not get time even to take any action. And at the sudden moment of time, all money of small investors is at risk. So simply, most of the cryptocurrency is owned by big investors and due to their investment or withdrawal, the price also fluctuates.
All information provided here is just for educational and general purpose only. We do not recommend you to invest your money. Always invest at your own risk.