A single Bitcoin in 2010 cost less than one cent. Now, one Bitcoin is valued at about $3,500.
You probably already know about Bitcoin, and that massive jump in value is likely why.
But what about Ethereum which has nearly $30 billion worth of coins in circulation? Or emerging coins like Ripple or Litecoin? Joke currencies like Dogecoin or FedoraCoin? The deeper you dig into the blossoming world of cryptocurrencies the weirder it seems to get.
Don’t let the memes fool you, though. Cryptocurrencies are establishing themselves as the real deal. Their use values are appearing and their massive levels of inflation have already made some people a lot of money!
Given the seeming technological complexities of cryptocurrency, many young people are the forming the public body of participants who are bringing these new currencies into the mainstream. As the New York Times put it:
“Grandpa had a pension. This generation has cryptocurrency.”
In this article, the third of our Process Street Future Finance series after Micro-Investing and Equity Crowdfunding, we’ll look at 3 key areas to equip you with the knowledge to jump on the cryptocurrency bandwagon before it’s too late:
- What is cryptocurrency and how does it work?
- What currencies are available and how do they differ?
- What are the steps to getting started with cryptocurrencies?