Cryptocurrencies can be lucrative investment options, no doubt about that. They have outperformed other investment options in the past birthing successful investors in the process. But having one or two cryptocurrencies in your portfolio is not enough. Sure one coin can make you a millionaire but it is like putting all your eggs in one basket. The [...]
Stellar cryptocurrency’s tokens are called lumens. Introduced in 2014, Stellar wanted to reach the world’s population that didn’t have access to banks. As it evolved, Stellar adjusted lumens to a different niche, and with a different purpose. They now aim to allow financial companies to store money and move it quickly and inexpensively. Stellar’s objective remains [...]
Tether’s trading symbol is USDT. Hong Kong-located Tether was launched in 2014. The aim was to peg it to the U.S. dollar. It means its value would be backed by a dollar reserve equal to the amount of USDT. Tether was originally called Realcoin when launched by a trio of serial entrepreneurs. The token’s development has [...]
Ethereum is a multi-use software network that features its own tokens, called ether... like the gas. Ethereum enables developers to create and bring to market smart contract applications. Smart contracts can potentially revolutionize how transactions are done in various industries. Think DocuSign for HR paperwork but each transaction is in blockchain. You also pay to use [...]
XRP is the world’s fourth-largest cryptocurrency and a digital token created by Ripple Labs Inc. Ripple Labs is based in Silicon Valley in California, and its baby has had a chequered career since its launch in 2012. Unlike Bitcoin, XRP was never intended to be a “currency” but a utility that could be used as a remittance network, [...]
2-min read Diversification. Plain and simple. That’s why people are investing in cryptocurrency. Kent Insley, chief investment officer at Tiedemann Advisors in New York City, said that compounding returns is the key to growing wealth in a portfolio over time, along with avoiding large losses. An investment that declines in value by 50% must appreciate by 100% [...]
People invest in cryptocurrency for different reasons. Let’s go through some of the more important ones.
