Since the bitcoin fever began its upward trend in 2009, the number of cryptocurrencies has not stopped growing: Ethereum, Litecoin, Ripple, NEM, Stratis, Dash, Waves.
New ones appear every week, and it does estimate that today there are more than 1,500 different cryptocurrencies, altcoins, or alternative coins, referring to the fact that they are alternatives to Bitcóin. You can trade bitcoin and other cryptocurrencies at british-bitcoinprofit.com.
The temptation to be lured into businesses that offer high returns causes many people to fall victim to pyramid scams or Ponzi schemes.
Speculative investors take advantage
However, this has made speculative investors take advantage but, unfortunately, also some scammers, but the technological qualities of the BITCOIN cryptocurrency and the confidence that the public or users have in its future usefulness is what makes these have value, not the people who added to the system.
For this reason, it is essential that, if you are going to invest money in buying cryptocurrencies, the recommendation is always to believe in a place that allows you to become the owner of the purchased asset and you can use or sell it at will without anyone being able to control or manipulate your capital.
Bitcoin has its category since it is the first cryptocurrency to hit the market. At the same time, the name Altcoins comes from “alternative coin” and encompasses all those cryptocurrencies that are not Bitcoin.
The apparent goose that lays the golden eggs is a form of digital money called BITCOIN; the blockchain regulates it, but what makes it valuable is the trust of the people, the same thing that makes gold or diamonds worthwhile again “THE TRUST OF THE PEOPLE.”
People trust BITCOIN for several reasons; IT CAN BE SENT AND RECEIVED GLOBALLY ultimately anonymously.
IT CANNOT BE FALSIFIED, and THERE ARE LIMITED UNITS; this allows that more than a currency the BITCOIN use as shares in the stock market, that is, people buy, keep waiting for to raise its value and sell it. One of the main things that catapulted this cryptocurrency was the increase in its price.
BITCOIN price is what makes you want to have it and invest in it.
The bitcoin every day leaves behind the theories that want to involve it with scams or consider it a bubble.
On the other hand, the ALTCOINS or crypto alternatives refer to all the currencies that came after bitcoin, a term that encompasses more than five thousand cryptocurrencies, many of them very valid.
Many others considered actual scams, some altcoins that are positioned and are considered very valuable are the following: ETHERUM launched in 2015 serves to create all kinds of decentralized applications, LITECOIN is a veteran in the crypto world, it does know as the silver of cryptocurrencies, DOGECOIN, it arises from the meme of a dog, increased its price by more than 600%.
Many altcoins offer technologies and capabilities different from bitcoin, along with others that provide very similar concepts. This great variety makes the sorting process very difficult, although each person will always handle a batch of their preference.
Aware that they have been one of the most attractive investment products, that it is becoming easier to buy and sell cryptocurrencies through regulated brokers,
Attributes to look for in a cryptocurrency to invest
Many users are signing up to use them; are why we will list some of the attributes you have to look for and find in a cryptocurrency to invest in it.
- Know where you invest.
- Invest in cryptocurrencies that hold value.
- Invest for the long term
- A sovereign cryptocurrency
- Flee from fashion and seek safety.
These are some of the main aspects to consider before investing either in BITCOIN or ALTCOINS; each person’s criteria will define the success of the transactions they wish to carry out and the expected return short-medium or long term.
Attacks, doubt, uncertainty will always be factors that will play a fundamental role in decision-making when investing our capital since this represents the effort and sacrifice of a particular time and from which we hope to get the most out of it in any investment and finance project.
Whether bitcoin or altcoins, it is essential before investing in observing, studying, and analyzing the digital financial market you aspire to invest in. Do not make hasty decisions without prior investigation.