digital currency that was launched in 2009. It’s stored using something called blockchain technology, essentially a chain of decentralized data blocks. There are now thousands of cryptocurrencies, but Bitcoin was the first and remains the largest.
What are the risks involved in it?
If you want to buy Bitcoin safely, you’ll need to consider the risks.
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Cryptocurrency is extremely volatile. This year alone, Bitcoin has gained over 200% but has seen its fair share of crashes. And even though a reputable exchange or brokerage can help protect your investment, you’re still going to want to pay attention to how you can safely buy and store your Bitcoin. Let’s get into the topic.
Do your research:
The best way to handle the bitcoin investment is to know what you’re investing in and have a strategy.
Buying cryptocurrency is similar to buying stocks, but it is still in its infancy stage. That’s one of the reasons it’s so volatile. And with over 11,000 currencies out there, you have a lot of options to explore. You’ll have to look into individual coins for yourself and decide which ones you believe will be profitable in the long term.