It’s been over a decade since the mysterious Satoshi Nakamoto created Bitcoin, the first and by far the most popular form of cryptocurrency in the world. However, Bitcoin is not the last word on cryptocurrencies as there are currently over 7,000 cryptocurrencies available in the market. With such a wide variety of cryptocurrencies, how do investors know which cryptocurrency is worth investing in?
Look after your wallet
Ten years ago, most people would have laughed if someone said they held a portion of their investment portfolio in cryptocurrencies – a type of virtual currency that is computer generated and protected by various cryptographic methods. But in this day and age, a modern investor is considered to be behind the times if they are not currently investing or if they have never traded a single Bitcoin, Ethereum or Stellar.
Right now, cryptocurrency is practically everywhere, and investing in it is not just for day traders. In fact, many traditional companies are integrating cryptocurrency into their platforms in some form or using it as a means to launch other types of products. In October 2020, PayPal launched a new service that allows account holders to buy, sell or store cryptocurrency or use it to buy things from 26 million different vendors.
“The transition to digital forms of currency is inevitable, with clear benefits in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability of governments to pay its citizens quickly,” – Dan Schulman, President and CEO of PayPal, said in a press release. This means that today is the right time to embark on your cryptocurrency investing adventure.
Act… but be aware
Starting your own investments, however, is not easy. Especially without the contacts and sizable capital reserved for a financial advisor. The business of scams and fake investment opportunities continues to flourish. This is why more and more small entrepreneurs and individuals opt for participating in training on the topic of investments, personal development, as well as financial and stress management. This makes them better prepared for the challenges they are taking on and less likely to become victims of fraudsters.
Online training is becoming fashionable not only because of the high demand for similar services but also because of their convenience. Young people, in particular, seem to prefer online learning, from the comfort of their own homes, over attending regular classroom lessons. Undoubtedly, this method saves time and usually does not require adjusting your schedule specifically to the training hours.
Cryptocurrencies … but which ones?
There is still the question of choosing cryptocurrencies to invest in. Fortunately, there are a few favourites this year.
Stellar is an open source decentralised payment protocol that enables fast, cross-border transactions between any currency pair. Similarly to other cryptocurrencies, it operates using blockchain technology. Its native resource, digital currency, is called lumen (XLM). XLM powers the Stellar network and all its operations, just as ether (ETH) powers the Ethereum network.
Transactions that take place in the Stellar network are added to a shared distributed public ledger, a database accessible to anyone around the world. To reach consensus on a deal so quickly and accurately, Stellar makes use of its own unique consensus method.
Stellar’s consensus method allows for fast and inexpensive transactions, with everyone in the network reaching consensus on the validity of a transaction within seconds. Each participant (called a node) that helps add Stellar transactions to the global ledger chooses its own mini-network of other trusted participants with whom they agree. As long as these mini-networks (called quorum slices) overlap, the entire Stellar network can agree on which transactions are valid, and they can be added to the registry very quickly.
The second favourite, Bitcoin Vash (BCH), is both a cryptocurrency and a payment network. It was created following a hard fork with Bitcoin in December 2017 to increase the number of transactions that could be processed. The official Bitcoin Cash website describes this cryptocurrency as peer-to-peer electronic cash for the Internet. It is fully decentralised, without a central bank, and does not require trusted third parties to operate.
Since its launch, Bitcoin Cash has become one of the most successful Bitcoin derivatives. Roger Ver, a prominent investor and early adopter of Bitcoin, is a proponent of the coin, describing it as “the real Bitcoin.” Ver was a prominent Bitcoin supporter already back in 2011, promoting it as a means of enhancing economic freedom. He has since moved to Bitcoin Cash, favouring lower costs and shorter transaction times.
A conscious choice – Netricoin
The Netricoin set is a specially selected set of training courses, e-books, webinars and educational aids designed for beginner investors. It allows us to learn how to invest in cryptocurrencies from scratch. The assumption of this product is that theoretical learning is accompanied by practical learning; therefore, along with the materials all students receive free tokens of two cryptocurrencies – the previously mentioned Bitcoin Cash and Stellar, which are used as an incentive to use the acquired knowledge in practice.
To get hold of Netricoin, you will need to contact the vendor via the contact form and schedule a phone conversation to discuss things further. After the purchase, the customer gains access to the materials sent by email, receives the ability to sign up for webinars, and gains a preview of the value of the accumulated cryptocurrency. The process of transferring the free tokens included in the Netricoin set is slightly different. The access code is sent by traditional post, in a COD shipment. This procedure is intended to minimise the likelihood of the tokens being intercepted by third parties. Access to both the free cryptocurrency and the materials requires collecting a shipment containing further instructions.
The solution developed for beginners in mind
The shipment sent to the customer will contain a card with the Netricoin access code. This is a special document containing a randomly generated login and password to the account, which contains the units of Stellar and Bitcoin Cash cryptocurrencies included with the product.
The person with the Netricoin Access Card can see the currently accumulated funds in the form of cryptocurrency, but in order to withdraw it, additional email verification is needed. Only after giving the code from the card to the intermediary and verifying the customer’s identity, the tokens can be withdrawn to the e-wallet of your choice. The cryptocurrency paid out can be converted into traditional currency (e.g. via a cryptocurrency exchange) as soon as the investor feels that this has become profitable.
Netricoin has a reputation for being a modern, transparent method of embarking on your cryptocurrency investing and portfolio diversification adventure. The creators of the product go to great lengths to not only provide comprehensive knowledge about cryptocurrencies and investing but also to provide free Stellar and Bitcoin Cash tokens in a well-thought-out and secure manner.