Crypto on your mind? Here are a few answers to common crypto FAQs

Does crypto interest you but you have no clue where to begin? Were you also influenced by the crypto forums & news that keeps popping up? Dogecoin and Elon Musk was a duo you couldn’t get out of your mind. Similarly, there is an end number of crypto coins in the market that are bound to cause exponential growth because of their volatility. Before heading into the crypto alerts let’s answer a few common questions that revolve around cryptocurrencies.

What is cryptocurrency?
The digital assets that may be substituted for traditional money, e.g. bitcoin, ethereum, ripple, etc. are cryptocurrencies or Virtual Currency Exchanges. Cryptocurrency operates using the decentralized system known as the distributed ledger or blockchain technology. You can purchase or exchange products and services with them. The difference between them and our regular paper currencies is that there are no actual currencies or bills, the money is totally virtual. Cryptocurrencies have made trading innovatively simple and transparent.

Why are people crazy about cryptocurrencies?

Cryptocurrencies are a major innovation! Crypto has established itself in online gaming & digital assets. In the future, here are two projections predicted about blockchain technology: First is how electricity will spread across cities using blockchain technology, and secondly Uber will be dwelling under the fear of its business in the coming future with respect to crypto’s decentralization nature. Let’s keep aside future inventions to the future years and hover over NFTs or also known as non-fungible tokens. NFTs are the future of artists and creators. They are digital properties that may be online art of any sort. A picture, image, meme, or even a tweet can be registered as an NFT. Were you aware that the first tweet sold at $2.9 million was NFT? NFTs are simply original or unique copies of the work of the art. Which further can be traced to the blockchain of ethereum (another growing cryptocurrency). NFTs are a volatile market today for creators and for gamers. There are games like crypto kitties, lost relics, etc. which are quite popular today considering cryptocurrencies in the gaming sector.

Any guide or source to refer from for a beginner at crypto trading app?

Today there are numerous sources from where you can learn more about crypto news and analysis. There are many crypto applications available that should benefit you, as a student and as a professional investor. Just look for “cryptocurrencies” and you’ll find a huge list of crypto applications. One of such is CoinSwitch. This application keeps tabs on your favorite cryptocurrencies and brings you real-time analysis and price differences. Moreover, it also serves as a platform for investors to trade in multiple currencies all at one platform. Other than such apps there are various other tools like a crypto aggregator, that help young investors understand crypto easier.