What every crypto newbie should know about

What every crypto newbie should know about

If you’re considering investing in cryptos, there are a few things you should know about before going ahead. The interest might have come as many of your friends are already investing or because you have been fed lots of information over the past years. Yes, crypto investments are a hot topic, that is only blooming. But before you start spending your money, let’s dig deeper into the world of cryptos.

While some people are trying their luck in money by betting on the best new york sportsbooks, others trade cryptos. Cryptos have over the years become very popular, but they’re not a product of the last few years. The very first crypto and still the most famous one is of course Bitcoin. While this crypto dates back to 2009, many others have come since.

The most popular cryptos in 2022

Bitcoin is still the ruling crypto to this date with a staggering price of almost 20.000USD for one coin (8th of September 2022). The value of this crypto coin has rapidly increased since its creation. Other popular cryptos include the following:

  • Ethereum
  • Tether
  • Binance Coin
  • XRP
  • Binance USD
  • Cardano
  • Solana
  • Dogecoin

What are crypto coins?

Cryptocurrencies work as a form of digital money, which is not decentralized by central banks and governments. The currencies differ from what you know as normal currencies like US dollars, Euros, and so on. Cryptos are anonymous, which makes them untraceable, which also means once you have traded these currencies, you will not be able to get them back. Cryptos are usually traded on different platforms and are normally kept in digital wallets. What platforms you can trade these currencies on we will explain further in the next section.

Popular cryptocurrency platforms for trading

There are numerous trading platforms to choose from when you want to start trading these currencies. There is a huge difference in those and as a beginner, some work better than others. Platforms like eToro are ranked as being one of the most easy-to-go platforms when you’re starting your crypto adventure. Others include Coinbase and Finance as well. There is a difference in how many coins the different platforms offer in terms of trading. This means that if you have specific coins in mind, you should check which trading platforms have them. Fees differ, so make sure you check this out too. eToro also offers stock trading.

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