Cryptocurrencies aren't backed by things (i.e., commodities); they are either backed by their own scarcity (as in the case of BitCoin, ostensibly), their use as a money-laundering tool (definitely BitCoin), name-recognition (Dogecoin), or as grease in distributed finance (Ethereum).
Does anyone have any recommendations?
For the time being, don't spend any money, since it looks like cryptos are currently slumping a bit (for a week or so, anyway). Good time to check out some freebies while you poke around.
Nothing beats the good ol' real metal coins. There's also a lot of good-valued cryptos, some are quite safe, others require some level of study to be gamed into profit. Keep doing some researching on metal-based financial advice channels, avoid the MSM. Hope you end up this one rich, pede.
You don’t even know what you are investing in you are just buying buzzwords
Research crypto, read the white papers and understand the tech otherwise you are just beholden to someone else’s opinion
And remember if you are not holding your crypto in a wallet the crypto doesn’t actually belong to you, do not leave coins on the platform you purchased them from
As for platforms, KuCoin and binance are the best ways to go
Why don’t you buy gold and silver
There are no crypto’s backed by physical asset that’s why you haven’t seen this topic covered
Cryptocurrencies aren't backed by things (i.e., commodities); they are either backed by their own scarcity (as in the case of BitCoin, ostensibly), their use as a money-laundering tool (definitely BitCoin), name-recognition (Dogecoin), or as grease in distributed finance (Ethereum).
For the time being, don't spend any money, since it looks like cryptos are currently slumping a bit (for a week or so, anyway). Good time to check out some freebies while you poke around.
Nothing beats the good ol' real metal coins. There's also a lot of good-valued cryptos, some are quite safe, others require some level of study to be gamed into profit. Keep doing some researching on metal-based financial advice channels, avoid the MSM. Hope you end up this one rich, pede.
Just get the gold instead...sheesh.
This guy gets it
I have some XRP and XLM but I also have physical silver. Nothing like something tangible in worst case scenario.
I have physical silver as well, but want crypto as well. What is the best way to buy XRP and XLM, on their website or a crypto app?
You don’t even know what you are investing in you are just buying buzzwords
Research crypto, read the white papers and understand the tech otherwise you are just beholden to someone else’s opinion
And remember if you are not holding your crypto in a wallet the crypto doesn’t actually belong to you, do not leave coins on the platform you purchased them from
As for platforms, KuCoin and binance are the best ways to go