There are more than 1,600 cryptocurrencies in circulation today. Together, they create a market cap of more than $289 billion. As crypto continues to grow, it only makes sense that cryptocurrency exchanges continue to grow.

Around the globe, investors are very eager to start trading on this rapidly-growing platform. The question, then, is which platform to choose, and which crypto exchange is the best one for you to get started on.

While all exchanges allow consumers to sell, buy, or trade cryptocurrencies, they’re not all created equal. Whereas some exchanges are ideal for less-experienced traders, others are better-suited for full-time, professional traders.

 

[RELATED: How do cryptocurrency exchanges work?]

 

Here’s what you need to know about the top five crypto markets out there today, and how you can take advantage of each.

Coinbase

Coinbase is an exchange based in San Francisco.

Founded in 2012, it currently offers four tradable coins and an expansive set of tools for merchants who want to start trading. Users on the platform can sell, store, and buy tokens. Then, they can use them to make payments to companies like Expedia and Overstock, which accept bitcoin.

As the first cryptocurrency platform to achieve a valuation of more than $1 billion, Coinbase has become one of the most popular crypto exchanges out there.

 

BitMEX

BitMEX is a mercantile exchange for bitcoin. While some platforms, like Coinbase, cater to retail investors, BitMEX is designed to cater to dedicated traders.

It processes more than $2 billion in transactions daily. It does not currently handle fiat currency and is not available to customers throughout the United States.

 

Gemini

Gemini is an exchange launched by two former Facebook employees. Similar in structure to Coinbase, Gemini isn’t available in all 50 states throughout the country. Designed to support the trading of bitcoin and Ethereum, Gemini provides FDIC insurance for cash balances.

 

Kraken

Kraken is a digital currency exchange that offers 17 different cryptocurrencies for people who want to trade on the platform. Unlike many other exchanges, this one offers a tiered program. This makes it effective for both beginning investors and more experienced traders. While you cannot fund the platform via U.S. dollars, it is possible to trade other cryptocurrencies from your wallet or other platforms.

 

KuCoin

One of the strongest exchanges, KuCoin, also offers a mobile app (Android and iOS). The platform has been constantly updating its mobile app, and is currently one of the best and brightest in the industry.

 

Choosing the Exchange that Works for You

When it comes to choosing a cryptocurrency exchange, finding the one that suits your goals, needs, and experience is essential.

These five crypto exchanges all offer various benefits and drawbacks, and those features make them ideal for some investors while ill-suited to others.

When you understand this, as well as the fact that not all exchanges are created equal, you can take proactive steps to identify the exchange that works best for you. A solid understanding will also allow you to take full advantage of the platform. If you’re like most traders, you’ll find that you actually use a mixture of exchanges over the course of your trading lifetime.

 

[RELATED: How to Develop Your Cryptocurrency Trading Strategy]

 

It’s essential to fluidly adapt to the exchanges you use and to be cognizant of when things just aren’t working. Once you’re proficient in these aspects, you can find an option that suits you, your trading goals, and your long-term objectives.

If you’re just getting into cryptocurrency trading and investments, it can help to learn the nuts and bolts of selling and buying currency. There are a handful of tools you’ll need for the process, including trading software and a cryptocurrency wallet. You also need to gain an understanding of cryptocurrency exchanges, where people actually do the trading of the cryptocurrency. If you want to understand more about cryptocurrency exchanges are and how they work, the following basic guide can help.

 

What is a Cryptocurrency Exchange?

When you want to exchange cryptocurrency online, you do it on a platform called a cryptocurrency exchange. Cryptocurrency exchanges are like the stock market: you can buy and sell different amount and types of cryptocurrency, all based on the current market price for that currency. Some cryptocurrency exchanges only exchange cryptocurrencies. Others will exchange cryptocurrency for legal tender (including things like US dollars).

 

What Should I Expect When Entering a Cryptocurrency Exchange?

There are lots of exchanges you can choose to trade your crypto. Some of the most popular include Coinbase, LocalBitcoins, Binance, and CEX. When you go to an exchange for the first time, choose one that will allow you to buy crypto. You can do that with a credit card or by linking your bank account with the exchange.

Once you’ve linked your card or bank account to buy crypto, you have the ability to buy it. Go to a Buy/Sell cryptocurrency tab, select your payment type, enter the amount you want to type and click “buy.”

Once you have coins in your account, you can begin to use that currency for trading or investing. To buy a different cryptocurrency using the amount you already have, choose to buy one of the other coins (for example, use your Bitcoin to buy Litecoin). Then, if you want to get dollars back for your cryptocurrency, you can sell it for money (like USD).

Don’t forget that there are limits to how much you can buy and sell within a certain time period and that there are often fees involved with trading, so do your research before you begin to make sure you’re making a smart financial move.

 

Tips for Carrying Out a Successful Exchange of Cryptocurrency

If you want to be successful at exchanging cryptocurrency, here are some tips that you might find helpful when you’re first starting out:

 

Use your bank account

Try to use your bank account when you are trading cryptocurrency on an exchange. This can help because the fees are lower if you link your bank account than if you link your credit card.

 

Set alerts for trading

Set alerts for yourself so that you know when you should trade. You can set alerts for when the value of certain currencies rises to a particular amount or when they fall to a certain amount.

 

Pay attention to the market

The cryptocurrency market is ever-changing, and it can be volatile. If you want to be successful at making money with a cryptocurrency investment, you need to pay attention to the market. By staying informed and making decisions based on knowledge, you can be as certain as possible that you’re making the right moves.

 

Trade from your mobile device.

Don’t be glued to your desktop or need to run home in order to trade. Get an app for your exchange so that you can trade no matter where you are. This is particularly important for a market that’s changing all of the time.

 

Final Thoughts

Like anything, trading cryptocurrencies takes practice and dedication to succeed. Understanding the basics of an exchange is a great start to your journey in crypto. If you’re ready to take the next step in cryptocurrency investments, shoot us a message.

For years, people have been calling cryptocurrencies a bubble and proclaiming that their ultimate “burst” is imminent. If that’s true, of course, it begs the question of what, exactly, could cause such a major crash. Here are the four primary reasons why cryptocurrency crashes, and a few justifications for why you should trust in the overall fairness of the market:

 

1. Regulation

Regulation has been both a blessing and a curse in the world of cryptocurrency. While regulation has made crypto much safer for investors, the stipulations surrounding regulation can lead to fluctuations in the market. For example, if regulators in the E.U. or the USA get together to ban crypto exchanges while other companies stepped in to provide services within the crypto industry, it would have a large effect on cryptocurrencies across the board.

Take China, for example, which “banned” cryptos back in 2017. Despite moves taken by the country, crypto is essentially impossible to ban. The people and businesses interested in using it simply took their business elsewhere. While many people expected the market to collapse, it actually began to boom.

 

2. Crypto Exchanges

Before about 2014, there was a single crypto exchange that was responsible for more than 70 percent of all trading volume. It was called Mt. Gox and, at the beginning of 2014, it froze all trading, which resulted in an 80 percent crash through the entire crypto market.

While something like this could theoretically happen again today, the crypto market is so distributed now that virtually no exchange is responsible for more than 10 percent of all trading volume. This is as it should be. As long as trading stays this distributed, crypto crashes due to greedy exchanges will be much less likely.

 

3. Extension of Credit

Some exchanges allow people who trade on them to purchase cryptocurrency coins using credit cards. According to recent estimates, anywhere from 3-4 percent of purchases are made on credit cards and many of those can’t be paid back to buyers.

While this is one of the many factors that will inevitably drive the market higher, it’s unlikely that investors will leverage purchases within the market. Even if this did take place, it would be unreasonable to expect the action to have a strong impact on the market.

 

4. Tether

Tether is one cryptocurrency that acts as a “wildcard” within the whole system. Issued seemingly out of nowhere, the system behind Tether is very complex. Today, Tether is priced right around $1.6 billion and is connected to many other cryptocurrencies and exchanges. Because of this, any potential discovery that Tether’s valuation is inflated or exaggerated could cause a massive hit to the overall market.

Luckily, analysts place this risk as one with low probability and don’t see a realistic chance that it will have a major negative effect on the market anytime soon.

 

The Overall Stability of the Crypto Market

While the crypto market gets a great deal of flack for being unstable, it’s fairer than many people give it credit for. Although it’s true that the market flexes up and down, it generally holds gains and experiences fluctuations it ultimately recovers from. This is good news for investors. If you can handle a bit of uncertainty, there’s a great deal to be gained in the crypto market.

Want to stay in “the know” of the cryptocurrency market? Sign up for Wolf Pack Chat, where we discuss crypto trading 24/7!

If you’re a cryptocurrency investor, there’s a good chance you rely on tech tools to help you manage your investments. One of the most popular types of tech platforms associated with cryptocurrency is trading software—or programs that help you buy and sell cryptocurrency. Cryptocurrency trading software is a service that’s automated and can help save you time and energy by doing the trading work for you. Read on to learn more about what makes good cryptocurrency trading software, and which options are the best ones for you.

 

Coingy

Coingy is one of the most popular and trusted platforms for trading cryptocurrency. It allows users who have an account to trade on more than 45 of the most popular exchanges. The site can monitor your accounts 24/7, so you don’t have to spend your free time monitoring cryptocurrency markets. The platform is also easily accessible and simple to use whether you’re on a desktop device or mobile. One final aspect of Coingy that makes it so fantastic is that it’s secure. It’s 100 percent encrypted and doesn’t actually store your funds, so you have complete control over their safety.

 

Trading Technologies Crypto

Trading Technologies Crypto (TT) is one of the most popular tools for trading cryptocurrency. TT is a particularly powerful program with tons of insights, so it’s often used by professional investors who want a deeper look into their currency and the markets. With TT, you can access Coinbase Prime and trade currencies like Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. It also has a ton of visualization tools, so you can better grasp information like market depth, profit and loss, orders, and more. In addition to offering a wide variety of platforms for trading, TT also offers algorithmic trading, so you can take advantage of trading that’s fully automated.

 

HaasOnline

Another of the most popular platforms for cryptocurrency trading is HaasOnline. This is an automated crypto trading platform that allows you to automate your trading on all of the major exchanges. By doing so, you can free up time and energy to devote to other things while still making investment moves. HaasOnline offers all users a customized dashboard, so you can make your own command center that shows you all of the information you want and need. HaasOnline is also particularly popular because it offers Native Altcoin Support. This means that the platform’s trading bots can be used to trade any crypto that is supported by the exchanges you’ve authorized.

 

Gekko

Gekko is an open source platform that people can use to trade Bitcoin. One of the best parts about Gekko is that it’s free, and it also supports two different bitcoin exchanges. You can use Gekko on all of the major operating systems available, including Windows, Linux, and MacOS. You can easily access Gekko no matter what device you prefer or where you decide to access the platform.

 

Final Thoughts

If you’re a cryptocurrency investor, you probably already know that trading cryptocurrency can take a lot of time and effort—from paying attention to markets to setting up trades, and more. Nonetheless, if you rely on software that can trade for you automatically, you can ensure that you’re making smart financial decisions and trading at the best hours possible. Plus, you’re effectively freeing up your valuable time to devote to other areas of your life.

Want to learn more about the best cryptocurrency trading software? Get professional tips from seasoned cryptocurrency investors.

Are you a beginner just looking to get into the world of cryptocurrency? If so, you know how confusing the process can be to navigate. With more than 1,500 cryptocurrencies currently in existence, it’s virtually impossible to know where to start or what to focus on in your trading strategy.

Luckily, we’re here to help you out of that puzzle.

Follow these tips to improve your cryptocurrency investing and trading strategies and build your portfolio:

 

Why You Need a Plan

If you’ve spent any time in the crypto market, you probably understand that having a plan is essential. Why? Simple: while some crypto wins come down to luck, more of it is based on fundamental practices, good habits, and growing experience.

When you look around at the majority of the crypto investors out there, you’ll find that people who trade daily and grow their portfolios rapidly don’t do it randomly. Instead, they follow a series of strategies and approaches that tip the scales of the crypto market in their favor.

Although it’s true that the crypto market is volatile enough that nothing can truly “predict” it, failing to follow a strategy is simply reckless and not advised within the investing and trading community.

 

4 Strategies for Crypto Trading

If you’re going to start trading or investing in the crypto market, follow these tips:

 

1. Start With Bitcoin

Bitcoin is the current “gold standard” in the crypto industry. Because of this, most altcoins follow the rise and fall of Bitcoin quite closely. This means that you can gauge the general temperature of the crypto market by keeping a close eye on Bitcoin.

If Bitcoin prices leap, altcoin prices can go down as people scramble to get in on the Bitcoin profits. If you’re looking to create altcoin growth, investing when Bitcoin is growing organically or declining is wise.

 

2. Diversify

Diversification is key when it comes to cryptocurrency. While you boost your earning potential by investing more in a single coin, you also increase your risk exponentially. With this in mind, consider branching outside the standard cryptocurrencies and investing in other coins.

Here’s an example of how that can play out: In the two years between January 2016 and January 2018, Bitcoin jumped 34x while Corgicoin increased 60,000x. While investing in Bitcoin would not have been a bad decision, branching out to other currencies could have earned you larger rewards.

 

3. Don’t Invest Without Intention

In some ways, the crypto boom has created a new gold rush. Lots of investors, desperate to make a profit, have flocked to the scene thinking they can make a quick buck.

Unfortunately, crypto is also much riskier than many other types of investments. As such, putting money into it blindly can pack some serious consequences. With this in mind, be sure that you’re speaking with professional investors and taking a strategic approach before you go dumping your life savings into Bitcoin.  

 

4. Categorize Investments

Coins come in different categories and it’s important to pay attention to that. Some coins are stronger than others and deserve medium or long-term holds, while others can be ideal for a short sale turnaround. Be sure to arrange your coins accordingly and keep things in your long-term portfolio untouched for a set period of time.

 

Better Crypto Trading Starts Here

While the crypto market can be difficult to break into, these four tips can help you develop your strategy and keep your head above water for the long run. If you’re interested in learning more about creating your own cryptocurrency trading strategy, shoot us a message.

If you’re familiar at all with cryptocurrency markets, you know they’re changing drastically every day. There are many great reasons for this, not the least of which is that there are more than 1,000 cryptocurrencies currently in existence. A field that crowded generates a lot of activity!

As if that weren’t enough, crypto specialists are creating new currencies all the time, making the market exponentially fluid. But, how many cryptocurrencies are there exactly, and are they still worth investing in?

Here’s what you need to know about cryptocurrency and how many different options are currently on the market.

 

How Many Cryptocurrencies are Currently Available?

According to a piece published in March of 2018, there are about 1,658 cryptocurrencies currently on the market. This represents a jump from 1,600 earlier in the year, and a single cryptocurrency available just a few years back.

While this may seem like a huge number of cryptocurrencies, the fact is that the number will only continue to grow in coming years. Because cryptocurrencies can be created through an open source method, it’s surprisingly easy for anyone with a moderate knowledge of coding to create their own.  

As it stands now, the entire cryptocurrency market cap is about $369 billion, with the top 20 cryptocurrencies accounting for 89 percent of the market total. The remaining 1,638 cryptocurrencies are worth a (relatively) paltry $39.6 billion.

 

The Daily Growth of Crypto

Part of the reason the crypto market is so volatile is that it sees a massive amount of growth daily. According to CoinTelegraph, major cryptocurrency trading platforms add about 100,000 users per day.

Many of the top exchanges, including Coinbase, Bitstamp, and Kraken have actually had a hard time dealing with the sudden surges in demand in their systems, and have had to run to scale accordingly.

 

Why You Should Invest in Crypto Now

If you look at the crypto market closely, you’ll see all sorts of people who are yelling about how it’s already too late to invest in crypto. While that’s not true, it’s also unwise to wait.

The crypto market is the ultimate example of an industry that moves fast and breaks things, and waiting any longer will only ensure higher prices and a more difficult entry process for you.  

 

A Few Additional Reasons to Invest in Crypto Now

1. Crypto Regulations are Improving

In the beginning, cryptocurrency was a digital Wild West. Today, though, the industry has seen the introduction of better cryptocurrency regulations, which reduce uncertainty and tackle many of the scams early investors may have been subject to. These regulations also help tackle the fears of potential investors and provide a strong foundation for future investments.

 

2. Blockchain is a Durable Technology

Like it or not, blockchain is here to stay. While there are literally hundreds of cryptocurrencies to choose from, blockchain is the underlying technology that makes them work.

When you delve into the technology of blockchain, you’ll see that there are dozens of powerful global organizations investing in the development of blockchain, and researching ways for companies to integrate cryptocurrency into their daily operations. This provides a level of stability for the blockchain market and helps ensure it will be around for years to come.  

 

3. Investing is Easy

Investing in cryptocurrency is easier now than it’s ever been before. Thanks to investing platforms and ample information, even beginner investors can get a great deal on their entrance into the cryptocurrency market.

 

The Future of Crypto

Crypto is only going to grow more in coming years. Because of this, now is the time to hop aboard and find the crypto investments that work for you. Interested in learning about cryptocurrency trading methods? Ask us anything!

Cryptocurrencies have performed incredibly well over the last several years. Because of this, they’ve continued to attract new investors.

When you first approach cryptocurrency, though, the field can be confusing. Where do you start? Which cryptocurrency should you buy? What shows the most promise?

Don’t worry – this post will help you find your way through the jungle.

 

The Crypto Market so Far

Bitcoin was the first cryptocurrency, and it was invented in 2009. It took until about 2013, however, for the general public to catch on to the idea of cryptocurrency. Since then, the market has exploded.

Today, there are more than 1,500 cryptocurrencies, the majority of which (including Ethereum, Litecoin, and Ripple) have been created in the last five years. In 2017, the market cap of cryptocurrency grew by more than 4000 percent. As of March 2017, the cryptocurrency market cap was about $21 billion. By May of 2018, however, it was over $454 billion, and that’s only projected to grow in coming years.

 

Top 3 Cryptocurrencies to Invest in

If you’re looking to get into the cryptocurrency market in 2018, you’re probably wondering which cryptocurrency is most worth your attention. Here are a few guidelines to invest by:

Start with Bitcoin

Bitcoin is still heralded as the best cryptocurrency out there. In addition to being the biggest cryptocurrency – it has a 40 percent share in the total cryptocurrency market cap – it’s also the oldest and most dominant on the market.

While cryptocurrency is a volatile field, it goes without saying that, as long as Bitcoin continues to increase like it did throughout 2017, investing in it in 2018 will always be a good idea.

Consider Ethereum

Ethereum, second in the cryptocurrency market only to Bitcoin, is one of the most popular cryptocurrencies out there.

At the end of 2017, the price of Ethereum was just above $720, with a market cap of about $70  billion. By the start of 2018, Ethereum had reached a price of $1,423 with a total market cap of $138 billion.

The cryptocurrency grew a total of about 3000 percent and dominated the market as the second largest cryptocurrency behind Bitcoin.

Despite their similarities, though, Ethereum is not just a digital currency like Bitcoin. Instead, it’s a blockchain project that allows developers to build their own cryptocurrencies using the Ethereum platform.

Ripple

Ripple is also called XRP, and is one of the top-performing cryptocurrencies from 2017, with a growth of about 36,000 percent. While the time to invest heavily in Ripple was early 2017, it’s still a great option.

Because the price of Ripple is so much lower than Bitcoin or Ethereum, it’s a very beginner-friendly investment. And despite its low price, it’s still the third largest cryptocurrency according to market cap. This popularity owes largely to the fact that Ripple is a digital currency and a payment system, which uses blockchain to streamline and secure international payments.

 

The Future of Cryptocurrency Investments

If you’re new to the cryptocurrency industry, learning which currencies to invest in can be challenging. Luckily, some cryptocurrencies (such as Ethereum and Ripple) are less risky than more volatile currencies, like Bitcoin.

Regardless of which route you intend to go, it’s always smart to have a clear understanding of your investment goals and a plan for how you want to achieve them. Whether you’re interested in a long-term investment strategy or a short-term cryptocurrency investment, a well-planned strategy will keep you moving toward your ultimate objective.

Cryptocurrency has become a household term in recent years. Bitcoin billionaires are popping up everywhere, and lots of curious consumers are wondering how they, too, can hop on the bandwagon of crypto trading, buying, and selling. If you’ve ever been interested in trading cryptocurrency, here’s what you need to know:

 

1. Buy Some Currency at Coinbase

Pick a currency you like and purchase some with government currency (USD, EUR, GBP, etc.). Bitcoin is a pretty safe bet, but Coinbase offers BTC, ETH, and LTC are for anyone who wants to branch out.

 

[RELATED: For everything you need to know about getting started in cryptocurrency, here’s a helpful page!]

 

2. Start in Easy Mode

If you’re totally new to crypto trading, start in Easy Mode. Easy Mode is a great place to get started watching graphs, finding good trading prices, and understanding when to sell. While it can be tempting to skip right pasty Easy Mode, it’s critical to learn how everything works and be more successful as you move forward with your trading.

 

3. Stick With Prominent Coins for a Bit

As you make your way into crypto for the first time, stick with prominent coins like Bitcoin and Ethereum to begin. These are somewhat more stable, although it could change in the future.

 

What to Know Before You Begin Trading

New to the world of cryptocurrency? Here are a few things to know before you begin trading:

Crypto exchanges aren’t part of the normal stock exchange. Coinbase is the most popular, but GDAX is another common version, without the high fees. Neither operates alongside Wall Street and its exchanges, although they share the same general mechanics.

Cryptocurrency stocks are also an option. Cryptocurrency stocks exist on the stock market and allow you to get into the crypto game without dealing directly with currency.

The crypto market is incredibly volatile. Even if you make a fortune with crypto, it’s easy to lose it in a heartbeat. Keep this in mind as you venture into selling and trading crypto.

There are tax implications to crypto. If you’re going to trade crypto, you need to understand the tax implications. If you don’t, it’s easy to fall into a nasty trap and wind up with a severe case of sticker shock.

Beginners should always start by choosing a company with a good reputation. As a general rule, the company should offer both a wallet and an exchange, since it keeps the process simple.

Crypto mining is not the same thing as trading. One way to invest in crypto is through cryptocurrency mining. While mining includes more complexities than straight investing, it can be a nice way to invest a small sum of money and make back some of the cost of a mining rig.

Only invest what you can afford to lose. Again, the crypto market is volatile and you don’t want to overextend yourself.

 

When to Exit a Crypto Trade

As a general rule, you don’t want to participate in margin trading unless you’re an experienced trader. Because crypto is so volatile, you could lose all your money in a matter of moments. If you come across a margin trade, it’s generally a good time to exit the process.

Cryptocurrency has sprung up as a household term in recent years.

A decentralized currency designed to make financial transactions secure, untraceable, and virtually impervious to hacking or manipulation, cryptocurrency is taking the world by storm.

It’s much more than just a way to pay for things, though. Here are just a few of the ways cryptocurrency is changing the world for the better.

 

[RELATED: Find out everything you need to know to get started in cryptocurrency!]

 

1. Crypto has Reduced the Risk of Fraud

Fraud is one of the largest concerns in the financial world. Luckily, cryptocurrency makes it much less likely. Because cryptocurrency is not associated with a bank account or any cash funds, it’s ultra-secure. The blockchain records all transactions, which reduces fraud and offers a sense of peace for users.

In addition to reducing fraud risks, crypto has also allowed people to take increased control of their money, which restores power to consumers and promotes new types of spending.

 

2. It Has Simplified Money Transfers

Wire and bank-to-bank money transfers can take a great deal of time to clear, which is frustrating for users. With blockchain and crypto, though, money transfers are instant and secure.

Because crypto doesn’t require the same compliance and checks as a bank-initiated transfer, they’re fee-free, secure, and easy to track and store.

When it comes to foreign transactions, blockchain and cryptocurrency stand to make the process less vulnerable to fraud, faster, and more secure.

What’s more, crypto means people no longer have to carry cash or cash cards when traveling in a foreign country, which reduces the risk of robbery and theft.

 

3. Cryptocurrency is a Stable Alternative to Unstable Currencies

Global currency is a notoriously unstable market, but blockchain and cryptocurrency can help. Because crypto is accepted worldwide and not vulnerable to the instability and inflation associated with standard currencies, it allows people a financial alternative that’s free of exchange and interest rate changes and is not as volatile as cash funds.

 

4. Cryptocurrency is Highly Scalable

Most companies spend a significant portion of their time searching for platforms or programs that can be built out for a specific product or service.

Scalability is a difficult pursuit, and traditional currencies have been notoriously bad at supporting it. Cryptocurrency, though, is built to scale, which makes it an obvious choice for fast-growing businesses.

 

5. Crypto Encourages Science

Cryptocurrency and blockchain make a powerful duo when taken together. Because crypto and blockchain help alter the scientific roadblocks faced by science professionals, they allow researchers to bypass issues like data lags, un-shareable information, and the monopoly held by major institutions. This, in turn, allows researchers to make important discoveries and keep driving knowledge and development forward.

This is as true in third-world countries as it is for the U.S. In fact, crypto has allowed third-world countries to enjoy hubs of innovation and discovery. Think of a Silicon Valley in India. Cryptocurrency and Blockchain make it possible.

 

The Future of Cryptocurrency

Cryptocurrency will only continue to become more popular in coming years. As the industry continues to evolve and change, and adoption rates rise, crypto will begin to have profound effects on a variety of new industries. It will also continue to infiltrate the individual consumer market, changing the way people purchase and pay for things, and interact with money as a whole.

Technology is affecting the way people do nearly everything these days–particularly the way they manage their money. There are digital currencies that take dollars out of your wallets and keep them stored in a drive or a cloud, like popular cryptocurrencies Bitcoin and Ethereum.

If you’re a person who uses Bitcoin to make financial transactions or you are interested in investing in cryptocurrencies, one of the smartest moves you can also make is to use a cryptocurrency wallet. A cryptocurrency wallet is designed for the particular purpose of managing cryptocurrency for safekeeping, and it’s the best choice for using your money and keeping it safe. Here’s why you should have a cryptocurrency wallet for your money today.

 

[RELATED: Learn about everything you need to know for getting started in cryptocurrency!]

 

What is a Cryptocurrency Wallet?

A cryptocurrency wallet is a type of software that stores information about your cryptocurrency, allowing you to interact with various blockchain and send or receive digital currency. A wallet doesn’t store actual currency, it stores both private and public keys that can interact with different blockchain. You can get an app-based crypto wallet, one that exists solely on the cloud, or one that’s stored on a desktop. You can also invest in a physical hardware wallet for your cryptocurrency.

 

Why Should I Be Using a Cryptocurrency Wallet?

Here are the four most important reasons you should be using a cryptocurrency wallet today:

They Give You More Control

If you don’t use a cryptocurrency wallet, your private and public keys are stored on an exchange. This means that you’re entrusting your keys to a third-party, which means that if they shut down, or they have a security issue, you run the risk of losing your currency. There is no regulatory body for the exchanges, so there’s no one overseeing what happens to make sure your currency stays safe.

They are Convenient

Cryptocurrency wallets are convenient for you to use. If you use an online cryptocurrency wallet, you can access it from any device that has an Internet connection. Simply log in to your wallet and send and receive from there.

They are Safe

Not only do cryptocurrency wallets give you more control over how your public and private keys are handled, they generally provide more security for your currency than if you did not keep them in a wallet. Hardware wallets are particularly safe because they’re not kept online and, in turn, not accessible by hackers.  

 

Why is Not Using a Cryptocurrency Wallet Naive?

If you choose not to use a cryptocurrency wallet, you’re making a naive decision that could put your currency at risk.

Most importantly, because there is no regulatory body of the exchanges, and they are hackable or reachable by outside security threats, if you leave the keys to your currency in the exchange, you expose it to a wide range of threats that could take it away.

Also, using cryptocurrency as a means of paying for goods or services should be convenient and easy. By using a cryptocurrency wallet, you can give yourself easy access to your currency when you need. If not, the process to access and exchange your currency can be more involved or a hassle, negating one of the reasons that cryptocurrencies were invented in the first place.

 

If you’re ready to invest in cryptocurrencies like Bitcoin, or you already have but you’re not keeping your money somewhere secure, it’s time to get a cryptocurrency wallet. Wallets can make using the currency easier than ever, while also ensuring that your money stays safe, so you can invest and spend with confidence.