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INTRODUCTION TO THE WORLD OF CRYPTOCURRENCY

"Success is not final; failure is not fatal: It is the courage to continue that counts." -- Winston S. Churchill

This website features the progression of how a high school student assimilated the and created a simple guide to understand the "World of Cryptocurrency". The website will help understand all the basic information which will be helpful to students and any person interested in the topic. From todays complex world of Cryptocurrency and digital currency, i have tried to incorporate simple undecorated format to regale all who access the website. I hope this journey with me will be worth the time. Thankyou for taking the time to visit.

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BACK TO BASICS.

What is Cryptocurrency?

Cryptocurrency (Commonly referred to as crypto) is a digital currency that can be used to purchase a number of goods and services. Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manage and records transactions. Part of the appeal of this technology is its security.

There are three types of mainstream blockchains:

PUBLIC BLOCKCHAINS SUCH AS BITCOIN AND ETHEREUM

PRIVATE BLOCKCHAINS LIKE HYPER-LEDGER AND R3 CORDA.

HYBRID BLOCKCHAINS LIKE DRAGONCHAIN

GUIDE TO CRYPTOCURRENCY

Cryptocurrency is a complex asset that comes with a number of unprecedented risks but high rewards. Without the right cognizance, cryptocurrency can deplete all your investment money.

For further information, scroll down.

WHAT IS MY GOAL AND TARGET AUDIENCE?

Blockchain and cryptocurrency are broad topics that is widely discussed in today's economy. Every day, this newly discovered industry makes headlines and causes the stock market to make or break. I recall being introduced to the rapidly changing cryptocurrency market and finding it difficult to keep up. This website informs any newcomer to the scene about its key features and the prerequisite knowledge required to enter the crypto scene. Anyone with an interest in cryptocurrency is my target audience.

WHY IS CRYPTOCURRENCY SO VOLATILE?

A GUIDE TO INVESTING IN THE RAPIDLY CHANGING CRYPTO MARKET

Advantages and Disadvantages

ADVANTAGES

High Potential returns: Investors have seen up to 20% jump in stock price OVERNIGHT.
Diversification of your investment portfolio: Investing in a new field can reduce the risk of loss.
A limited supply of individual currencies
Protection against currency debasement: These currencies do not have a direct correlation to any government-issued currencies and will survive.
The world's growing acceptance of the currency: More countries are seen embracing cryptocurrency as a part of today's economy.
Avoiding fees of any external companies: There are no middlemen to interfere with your investment portfolio.
Direct access to your investment portfolio

DISADVANTAGES

While the craze and demand for cryptocurrency have only just begun, there are a number of pitfalls that can hamper your investment portfolio.

These include:

High Volatility and unpredictable price movements: Cryptocurrency is still a relatively new system of payment (Aged at just over 12 years). It works very differently when compared to currencies such as The US Dollar, Japanese Yen, Pounds, etc. It is a known fact amongst all investors that it takes time for a new chance to settle in the market.
Poor store of value due to its restricted use: Since crypto is still unregulated, its use is restricted in a majority of the countries.
Unregulated: When a stock or anything is being traded, its price movements and volatility are extremely high.
Disregarded by many countries. Ex: European Union

HOW TO GET STARTED

To purchase cryptocurrencies, you'll need a "wallet," which is an online app that stores your currency. In general, you open an account on an exchange and then use real money to purchase cryptocurrencies such as Bitcoin or Ethereum.

Cryptocurrency should account for a very small portion of your overall portfolio. It is entirely up to you how much you pay. However, investing more than 10%, or even 5%, should be avoided.
Understand that cryptocurrency is not an investment like a stock. It does not pay interest or dividends, similar to gold and silver investments. To the extent that cryptocurrency will be a good investment, its price must rise significantly – and remain there for an extended period of time.
Cryptocurrencies were never intended to be investment vehicles. They serve as means of exchange. They are widely regarded as a viable alternative to sovereign currencies such as the dollar, yen, and euro. It is expected that they will eventually represent a more efficient means of commerce, particularly on the internet. This is due to the fact that its value is determined solely by the market, rather than by manipulation as is common with sovereign currencies.

One of the main deterrents of entering the crypto market is its unpredictability.

Cryptocurrency is still a relatively new system of payment (Aged at just over 12 years) It works very differently when compared to currencies such as The US Dollar, Japanese Yen, Pounds, etc. It is a known fact amongst all investors that it takes time for a new chance to settle in the market. In the last 2-3 years, cryptocurrency has gained a status in the global economy. They however are still not observed as an “asset class” such as gold. The market has still not “matured'' enough for it to lose its volatility. For example, during the early months of 2021, Elon Musk, a prominent figure in the crypto boom had tweeted ”DOGE” and its valuation skyrocketed the following days. While this may be the main reason, there are a handful of other factors that disrupt its price level. Since there is no agency that controls cryptocurrencies, there is a higher probability that it becomes more volatile and unstable. To put this into perspective, listed companies such as Apple, Amazon, and Toyota are all listed on a stock index like the S&P 500. These indexes are managed by large regulatory bodies which make sure high volatility is not a problem.