Cryptocurrencies or digital currencies or virtual currencies are some digital codes of numbers used as a medium of exchange. Their major advantage is the fact that they are decentralized (they do not rely on a central bank or on a financial system) and use cryptography for the operations’ security and verification.
Examples of cryptocurrencies are Bitcoin, Ethereum, Litecoin, Ripple, Monero, etc.
Cryptocurrencies price varies wildly, one may see a 1000% in profit or loss overnight. Trading cryptocurrencies implies a greater risk than other financial instruments due to the fact that they are new and very volatile.
Investing in cryptocurrencies has the potential to bring you a great return if you choose them wisely. So, great market analysis and latest news are crucial for this type of investment. Count on Traders Spread for adequate support.