3 Common Cryptocurrencies to Invest in (If You Can Handle the Risk!)

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Cryptocurrencies are pervasive in news headlines as an asset to invest in for the future. The hoopla surrounding cryptocurrencies makes it difficult for investors to distinguish between investments, and to know which cryptocurrencies to invest in.

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So, which cryptocurrencies should you invest in, and which should you avoid? First, we will discuss what a cryptocurrency is and its risks.

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Cryptocurrencies are digital money or virtual currency. It is a digital asset stored on a network of distributed computers.

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Like any investable asset, there exist risks to an investor. Early on, cryptocurrencies had a reputation for being used in criminal activities.

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They are increasingly mainstream, which has added credibility to the asset class. There is, however, still high volatility and risk of hacking.

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Bitcoin’s price has fluctuated between a low of ~$29,800 to a high of about ~$67,600. In addition, the price has been impacted by rising interest rates, restrictions from some governments, and positive or negative statements from some prominent investors.

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Now that you are familiar with the great risk involved in cryptocurrency investing, here are some common coins to invest in

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Bitcoin is the preeminent cryptocurrency and the oldest one. Reportedly, the cryptocurrency was created by Satoshi Nakamoto in 2009.

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USD Coin attempts to solve one of the shortcomings of most cryptocurrencies, their volatility. It is a type of cryptocurrency known as stablecoins.

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3 Common Cryptocurrencies to Invest in (If You Can Handle the Risk!)

Cryptocurrencies are pervasive in news headlines as an asset to invest in for the future. The hoopla surrounding cryptocurrencies makes it difficult for investors to distinguish between investments, and to know which cryptocurrencies to invest in.

So, which cryptocurrencies should you invest in, and which should you avoid? First, we will discuss what a cryptocurrency is and its risks.

Cryptocurrencies are digital money or virtual currency. It is a digital asset stored on a network of distributed computers.

What is Cryptocurrency?

Like any investable asset, there exist risks to an investor. Early on, cryptocurrencies had a reputation for being used in criminal activities.

Risk of Investing in Cryptocurrencies

They are increasingly mainstream, which has added credibility to the asset class. There is, however, still high volatility and risk of hacking.

Mainstream but still risky

Bitcoin’s price has fluctuated between a low of ~$29,800 to a high of about ~$67,600. In addition, the price has been impacted by rising interest rates, restrictions from some governments, and positive or negative statements from some prominent investors.

Bitcoin is extremely Volatile

Now that you are familiar with the great risk involved in cryptocurrency investing, here are some common coins to invest in

Bitcoin is the preeminent cryptocurrency and the oldest one. Reportedly, the cryptocurrency was created by Satoshi Nakamoto in 2009.

Bitcoin

USD Coin attempts to solve one of the shortcomings of most cryptocurrencies, their volatility. It is a type of cryptocurrency known as stablecoins.

USD Coin

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