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Thinking Of Investing In Cryptocurrency? Here Are 5 Beginner Basics To Know

  • 11 mths ago

Investing in crypto is fast becoming a measurable competition to more traditional, tangible securities. As the internet gains precedence over other means of communication, it is ushering in newer means of financial exchange. And the crypto-blockchain technology ranks near the top.
For all its convenience and popularity, however, it is a market shrouded in questions. What exactly is cryptocurrency, if a layperson were to ask?

Digital Asset?

“It is a digital asset. Digital money,” Lakshika Kothari of Dfyn Network tells SheThePeople in an interview. “Understand it as a decentralized, open system that is high in transparency. There is little to no counterfeiting here and you can track your money.”

Crypto is a medium of exchange that takes down wealth ownership in computerized database form. The money exists only electronically, not on paper. Just like paper money, crypto too works in currencies; think Bitcoin, Ether, Tether, Cardano.

In the past year, a crypto boom, so to speak, has occurred, contributed to in large part by the extensive participation of women in trading and investment. Data shows that in India alone, the share of women investors in crypto increased by a whopping 1400 percent. A sign of positive times riding on the back of increased financial independence?

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