You are probably wondering what is the electronic money in which to invest your money? What is the promising cryptocurrency 2019? Bitcoin has been the subject of keen interest from investors since 2017. We would, however, warn you: do not embark on this type of trade without first educating yourself.
We talk a lot about them, but they are quite misunderstood. It’s only big business, banks and governments that really started out on their trail. The first cryptocurrency is Bitcoin, it has the greatest value, by the way. It was invented by a Japanese, Satoshi Nakamoto. In fact, it is digital gold. Their market is currently booming and hundreds of cryptocurrencies are traded on Poloniex, Okcoin and Shapeshift. Here the daily trading volume is much greater than that of the main European stock exchanges. The RoyalCBank crypto broker is able to make use of the same.
What are the characteristics of cryptocurrencies?
- Extreme volatility. Their market, as we know, experienced a big collapse in 2018. The prices of cryptocurrency suddenly hit very high prices, to collapse very quickly just as suddenly. So it’s a pretty risky investment. You really have to like risk to get started on cryptocurrencies. Obviously, this is not an experience that everyone can endure.
- These are digital currencies , created by a code.
- They are not controlled by the government.
- They are supervised by an Internet protocol , peer-to-peer.
- Their market is ultra dynamic. Every day we are witnessing the emergence of new cryptocurrencies while others are disappearing.
- They are highly speculative.
- They have no intrinsic value. By being issued from a computer calculation, they are not linked to the needs of the economy.
- Cryptocurrencies offer no guarantee of value and convertibility.
- Legally speaking, this currency has no legal tender and is not recognized as a means of payment.
- No recourse is possible in the event of computer hacking. The conservation of your cryptocurrencies is exposed to a high risk of cyber attacks.
- Transactions are irreversible. After confirming them, you cannot cancel them. They are starting to be part of the Blockchain. This network is managed by people called “minors”. It is they who make these transactions legitimate. They spread them on the network.