Bitcoin for Beginners: The Simple Guide to Investing in Bitcoin & Understanding Blockchain Cryptocurrency (3 in 1 Box Set) by Caro Artemis

Author:Caro, Artemis [Caro, Artemis]
Language: eng
Format: epub, azw3, pdf
Published: 2021-03-04T16:00:00+00:00

all three of these are among the top 50 cryptocurrencies in terms of market value. We can infer from their success that enough people see value in anonymity to make these currencies competitive players in the larger cryptocurrency market, as well as the general blockchain space.

Profiting from Blockchain Technologies

​ It is important to remember that blockchain technology is still very new. The implications of secure distributed ledgers and decentralized peer-to-peer systems of this variety are not yet fully realized. As with any frontier space, even in the digital realm, there are a lot of opportunities. Of course, the nature of frontiers is that they are unexplored territory, and where there is potential for opportunity there is also a higher risk factor than one might encounter in tamer and more regulated environments.

​ While much of the blockchain space is a “wild west,” major players and industry leaders from numerous fields are beginning to invest in and explore blockchain technology. Big technology companies such as IBM and Microsoft are beginning to explore blockchains, along with numerous banks, particularly in Europe and Asia.

​ Even governments in many parts of the world are beginning to implement blockchains to manage public services and records. Estonia, for example, issues citizens cryptographically secure ID cards, managed by a blockchain, that allow access to various public services. The government of Georgia is using blockchain technology to manage land titles and validate property transactions. The UN recently completed a trial program using the Ethereum blockchain to manage distribution of food aid to 10,000 refugees.

​ Over the past few years, numerous hedge funds dealing in cryptocurrencies and blockchain applications have sprung up all over the world, and many Wall Street speculators have fixed their attention on the blockchain space. In 2016, Overstock, one of the largest online retailers in the US, released a blockchain-based platform for equities trading. Numerous startups have emerged that use blockchains to manage peer-to-peer micropayments at extremely low rates. In some cases, these enable international transfers and access to cash pickups, which allows unbanked individuals to send and receive payments.

​ New developments are happening on a daily basis in the blockchain space. For those interested in diving in, getting involved and profiting from these emerging technologies, the single most important thing you can do is to stay informed: Read white papers, join online communities, and explore the different projects gaining traction around blockchain technology. The more familiar you are with the space, the easier it will be to make informed decisions about which projects to invest in.

​ As a practical matter, broadly speaking, there are two general directions you can go in terms of investing in blockchain technology: cryptocurrencies and everything else. These are by no means mutually exclusive, and as we have seen with projects like Ethereum and Ripple, there is often some overlap between the two, or the integration of a digital token into a particular blockchain application.

​ Within the cryptocurrency space, active online marketplaces and exchanges exist with a trading culture similar to traditional stock exchanges.

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