Cryptocurrency or crypto (short form) is a digital asset that works as a medium of exchange in the exchange market. Since it is digital asset, this means that it does not have any physical form which you can hold or see. But don't be scare, it has a long list of code that show what is it. You can stored your crypto coin in a wallet either in the exchange market wallet or personal wallet.
There are actually exist of many type of crypto coin in the crypto world. According to Coin Market Cap website in today (17.02.21), there are 8489 type of cryptocurrencies. This number will increase over time if there are new coin create.
The most famous crypto coin nowadays that you all should had been heard of is Bitcoin (BTC) and Ethereum (ETH). This two coin can be say as the big master that exist in the crypto world. Most new comer who step into the crypto world must had heard of this two coin & will mostly choose to buy this two coin.
In the past, many people heard of crypto coin will think about it is a cheatings. Not believe about the exist of this digital things can be useful & generate income. However, now internet is widely used by everyone from younger to older person. All is connected to internet world. The cryptocurrency knowledge & news also being spread virally around the world.
As of today, Bitcoin (BTC) has first time breaks its high to above $51,000 (ATH). This is a big success of this coin, as in the past this coin value is very small (Can try to check internet) which it had been used to buy a pieces of pizza. So you all can imagine how success of this coin increasing its market value until 5 digit value usd. Not all coin have this chance to sustain so long & generate high return to its holder. Bitcoin is the unique one.
The increasing value of BTC had attract many investor to made a invest on it such as PayPal & Tesla. This big investor choice give many common people confident to invest in BTC. Beside that during this rise season, many altcoin also rise in the same time, some popular such as Litecoin, Polkadot, Binance Coin and other coin are all crazy increasing their value. Those investor who buy & hold this type of coin had earn profit from this rise season.
However please bear in mind that if you hold the coin that generate profit but not sell it, it is just a value you see, it is not the cash you take on the hand. Beside that, in crypto world, there are no coin that is always in the bull market (All time high), it may drop it value until lower than the value you buy. This lower value coin if it has a chance to rise and you able to wait for the time and hold it until that time. Then, there is no loss to you. If not this coin will be delist from the market when it is not acceptable by the market.
So, when you choose to enter this crypto world,please make sure to get ready for loss & not dream of you will get huge amount of profit just by buying the famous coin. Because the highest the risk, the highest the profit. You entered the crypto world does not guarantee you to gain profit, but at least it is the latest trend in nowadays that you should know about it.
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Thanks for reading.
