How to invest in cryptocurrency in 2023?

Cryptocurrency has been expanding since 2020. This democratization is made possible because of the Covid in 2020. This is the case of Bitcoin which reached the proportion of 13000% in 2020. This growth has moreover been characterized by the phenomenon of the “running of the bulls”. It is indeed a phenomenon that is marked by a strong demand for investment. On this date, even tech giants like Amazon, Google, Facebook and many others have not been asked to pray. All this, thanks to a return on investment that is very commendable. However, 2020 is not 2023. At the moment, Bitcoin and the whole sphere of cryptocurrency are not looking good. Therefore, investing in cryptocurrency in 2023 must be done in a differentiated way.

What is Cryptocurrency?

To know what cryptocurrency is, you have to take into account all the elements that make it up. From Bitcoin to Blockchain, we reveal everything to better understand the world of cryptocurrency before you get started. Indeed, cryptocurrency is a fully digital and decentralized currency. That is to say, it is a currency that is not managed by any intermediary bank like the classic currencies. This is why we find a plethora of cryptocurrencies. Outside, cryptocurrencies enable purchases and sales of goods and services and can be used as stores of value. It is for the latter that many use cryptocurrency as an investment. Because, its fluctuating store of value over time and can turn out to be extremely high characterized by a “bull run”. During these periods, the higher the demandmore cryptocurrency has value. And, this value can even exceed the euro in terms of convertibility or exchange. Now move on to other elements of the cryptocurrency sphere.

What is Blockchain?

The blockchain is an operating account that tracks the history and current status of all transactions in a cryptocurrency network.. If ATMs allow centralized systems to manage the mediation of transfers, which gives some security to transactionsthe blockchain system differs from the latter. In fact, the transactions of a blockchain network are independent and decentralized. In addition, they do not need intermediaries to ensure its security and authenticity. This is one of the potential risks of cryptocurrencies. Because, even if they seem so secure, once diverted, it is impossible to trace it.

What is the Wallet Or the wallet?

This constitutes your account or is stored your cryptocurrency as well as any assets you owned. It is on this space that you can have control of your assets (purchase, transaction, sale, exchange). However, it is recommended that you keep your wallet or Wallet to avoid hacking. The private key given to you when you opened your account must not be misplaced at the risk of permanently losing your account.

What is Bitcoin?

Revealed in 2009 following the 2008 financial crisis by a certain Satoshi Nakamoto, Bitcoin remains the first cryptocurrency put into circulation via the web. However, Bitcoin is not the only currency in the cryptocurrency ecosystem. There are a myriad of cryptocurrencies since the introduction of Bitcoin. We remember the creation of Ethereum by the Russian-Canadian Vitalik Buterin and company.

What is Stablecoin?

Stablecoin is a stablecoin that knows virtually no speculation. In fact, as its name suggests, it is a token “Stable“which is far from the fluctuations of the cryptocurrency market. If it is known as being a replica of other currencies such as the dollar, the euro or even the yen, the fact remains that it retains its initial interest which consists in permanently guaranteeing the value of the currencies. to which it is attached.

What is Proof-of-Work, Proof-of-Stake, Proof-of-Authority?

These three elements of the cryptocurrency ecosystem are intended to validate transactions for some, and for others, to validate the release of new cryptocurrencies.

Why invest in cryptocurrency in 2023?

Investing in cryptocurrency in 2023 is an action anticipating the course of events that are taking place at the moment. In effect, in the event of a possible global crisis as was the case in 2020 with the Covid, it is possible that the cryptocurrency will experience a “bull run” again. That is to say a strong demand from investors. This increases the rating of cryptocurrencies and raises convertibility rates. In addition, cryptocurrencies in the event of inflation become safe havens like gold, which is rare. This is why by visiting the site of Google Finance, you will find the results of the fluctuations of what a Bitcoin is currently worth in euros. On this date, one Bitcoin is worth more than €20,000. So buying Bitcoins allows you to keep them until their values ​​increase to resell them and easily make you a millionaire. Also, we can add that investing in cryptocurrency means doing away with state controls that generally impact traditional currencies such as the Dollar, the Euro, the Franc, the Yen, etc. Finally, with an investment in bitcoin in 2023, you will be able to diversify your investment or your Wallet (portfolio).

How to invest in cryptocurrency

Hearing that Bitcoin can easily make you a millionaire can make many people fantasize. Because in these difficult times, you have the perfect stimulus to throw yourself without taking precautions. This is why we recommend that you speak to your bank advisor about this project. Take all the information possible. Because one small mistake can cost you all your investment. So, the first one chose to do is to talk to your bank adviser or a credible and extremely confident trader adviser. He recommends this:

• Choosing the right trading platform (eToro, Paymium, Feel Mining, StackinSat, Bitvavo, ZenGo, Binance, Bitpanda, Coinhouseetc.).
• Please complete the form 3916 of the tax declaration before any transaction on the account. At the risk of a very spicy fine from the public finance authorities
• Reinforce the security of your account in order to always have access to your account and your assets in case of hacking. Indeed, double identification through the 2FA system is the most recommended.
• There are companies that allow you to secure your account and place your security keys in safes (Ledger, Metamask, etc).
• Grow your cryptocurrencies by waiting for them to cross
• Invest in other cryptocurrencies. Do not limit yourself only to Bitcoins, for example in the Bitpandas indices.

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