Why it is Easier Than Ever to Buy and Sell Crypto

At this point most people have heard of cryptocurrency, but many of those who have heard of it don’t actually know what it is. Before we delve into why it’s so easy at the moment to buy and sell crypto we want to clear up and explain what crypto actually is. Crypto or cryptocurrency is simply a digital currency, it is a form of payment similar to the Australian Dollar, however it has no physical form and only exists online. It is used in the same way as the dollar, crypto can be used to make payments for goods and services and it can be bought and sold just like any other investment.

There are thousands of different cryptocurrencies on the market, some are performing much better as an investment than others, the crypto market is worth upwards of $2.5 billion which is impressive because the first crypto was only created in back in 2009. Many crypto’s have had an impressive growth rate and many crypto’s are continuing to grow which makes now an appealing time for investors to invest in this market.

How does cryptocurrency work?

How does cryptocurrency workCryptocurrencies work thanks to the advancement of technology, they use a technology that was created for Bitcoin (the first crypto) called blockchain technology. Cryptocurrencies are different to the dollar as the dollar is issued and regulated by a central authority like the government but cryptocurrencies aren’t regulated as there is no central source. Instead of this, cryptos depend on a network of various nodes, this allows people to make transactions and it verifies these transactions too.

Once ownership of the coin is verified after a transaction tis information is permanently recorded in the blockchain technology. This process is called mining, it may seem unsafe as it is all online so many people think it would be easy to hack, but as it is all online it is impossible to counterfeit cryptos and the technology is so sophisticated that if you choose to invest in cryptocurrency you can feel pretty safe that your investment is protected. This is usually how cryptos work but there is a type called stable coins, these work differently to most cryptos as they are instead backed by something like the dollar or euro, this is always at a 1:1 ratio.

Why is it so easy to buy and sell?

Buying and selling cryptocurrency has never been easier than it is right now. Whilst some cryptos are harder to buy and sell as they are less popular and lesser known, most cryptos are easy to purchase. When investors were starting to see how successful cryptocurrency could be they were wanting to get involved and make a purchase. This highlighted a gap in the market and people took it upon themselves to make it accessible, when the demand for buying cryptocurrency grew more websites and apps were being created that allowed this to happen.

When you’re investing money you want to use a website that is reliable and trustworthy, one of our favorite websites to use is Coin Spot, if you’re unsure about this site then you can see the review on FindBitcoinATM which has all the information you need, or you can do some research and find a site that you trust. Coin spot makes it so easy, all you have to do is set up an account and then you can invest any time of any day in 3 steps, selecting buy/sell, picking your crypto and choosing your amount.

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