With the popularity and trend of cryptocurrency, a lot of questions are brewing in everyone’s mind. When crypto is at its peak in this Bitcoin era, many people search hundreds of inquiries related to cryptocurrency and Bitcoin. It is evident that people look for the answer regarding their doubts about the technology of cryptocurrency, investment processes, safety, and types.
When people around the globe are coming forward to invest in cryptocurrencies, the people who are newbies or who want to try their luck are looking for answers to clear all their doubts. So, here we are with the answers to the most googled crypto question of 2021. To start crypto investment, you can click here.
People around the globe ask all these questions many times. So, let’s get directly into the answers to most googled crypto questions.
How can I start my crypto investing journey?
To start your crypto investment journey is not very difficult. You need to make your account on any crypto exchange to be safe and make high profits. Choose exchanges that most people use. If you are new to crypto investment, choose Either Bitcoin or Ethereum. After creating your account, fund your account. This process is mainly like recharging. So, your traditional currency gets converted into cryptocurrency.
You can move your crypto coins to your crypto wallet for safe storage.
Which is more reliable to invest in; crypto or traditional funds?
There are many other investment options available than cryptocurrency that also give good investment returns and security. But when it comes to cryptocurrency, we have seen a major rise in the price of assets. If we see all the investment options trends, crypto manages to acquire the top position.
Some market Gurus also consider cryptocurrency a new future, and more prominent names are investing in this. So, both currencies are reliable to invest in; the decision depends on your circumstances.
Which is the best cryptocurrency to invest in?
Bitcoin and Ethereum are considered safe and highly recommendable to new investors. It is because both of these coins have a great market value, high returns, and are stable in terms of other coins. The Crypto market is precarious and highly volatile. So, to invest safely in the beginning, choose either of these coins.
Does cryptocurrency have a function beyond a means of payment?
In 2009, when the first Bitcoin was first mined, the function of cryptocurrency was still a highly debatable topic. Commercial use of cryptocurrency started some years before and is still not very popular. But cryptocurrency as an asset is highly considerable. Some more prominent companies are converting their traditional assets into cryptocurrency.
This clearly shows that cryptocurrency has a function beyond a means of payment.
How to choose the safest crypto wallet?
There are many options available in the crypto wallet, and it could be of two types; hot wallet or cold wallet. You need to be very careful while choosing your wallet because your safety mainly depends on the choice of a crypto wallet.
Go for the wallets with different options available in coins, do not compromise on security, and are user-friendly.
Is cryptocurrency safe to use?
As the crypto market is growing, crimes, scams, and frauds around this are also growing faster. But your security lies in your hand. Go for the exchanges and wallets, which provide better security. Don’t fall for traps or gimmicks. Being aware is the key to protecting yourself from losing your cryptocurrencies.
Which technology is used in the functioning of cryptocurrency?
This is also one of the most asked questions, as people are curious to know how cryptocurrency works. Cryptocurrency is based on blockchain technology which has a major part in the functioning of Bitcoins. There are some cryptocurrencies available now which are not based on this technology.
Do I need to pay tax for crypto transactions?
This is also a highly discussed topic which needs our attention. As cryptocurrency is not in control of any particular authorities. The country’s government controls the rules and regulations where it functions. So, it depends on the country’s laws whether it is taxable or not. In some countries, it is taxable, and in other countries, this is still a topic of discussion.