Cryptocurrency

Beginner’s Guide to Cryptocurrency I 5 Advantages of Crypto

Snapshot:

  • What is cryptocurrency? 
  • 5 advantages of cryptocurrency 
  • Where to learn cryptocurrency

Cryptocurrencies are taking the world by storm. With such a fast pacing technology, it becomes difficult for beginners to understand where to start. 

The foundation of an investor is extremely important be it any financial instrument. Investors must know the ins and out of the instrument before they start involving their hard-earned money in it. In such cases, a beginner’s guide comes in handy. Especially when it’s about technology as new as cryptocurrency. 

With this blog, we aim to clarify the basic doubts of the crypto investors who have just started their crypto journey. Let’s dive in! 

What is Cryptocurrency

To simply put it out, cryptocurrency is a type of money that only exists electronically—digital money, if you will. The technology behind it aims to solve some of the most significant pain points about traditional banknotes.

One of the issues faced in the traditional financial system is that it is controlled by a central body and requires permission for the transactions to occur. However, the blockchain technology that cryptocurrency uses does not require any intermediary. Tranfers are done peer-to-peer (P2P). This also spells out instantaneous transactions that do not get imposed with high fees. 

Also, read about what is blockchain and how it has been helping in the growth of cryptocurrency. 

Once you know what to invest in you must also know where to start investing. Read about the top 5 global crypto exchanges that help you get one step closer to your crypto journey. 

5 Advantages of Cryptocurrency 

Cheaper and faster transaction 
Confidential and secured transactions 
Financial freedom for the ones who are unbanked
Growing investment opportunity

Cheaper and faster transactions

Instead of having to go through all the legalities and unnecessary steps when sending money to another person, a crypto transfer is relatively simple and straightforward.  No brokerage or commission fees are required to carry out the transactions. This makes the entire process super fast and easy. 

Confidential and secured transactions 

Any transaction done with cryptocurrency is encrypted, safe, and basically anonymous. There is no chance of fraud or track of these financial activities other than the real user. 

Financial freedom for the ones who are unbanked

Globally, there are around 7 billion unbanked adults. This means they have no account with any financial institution or mobile money provider.

This could be because of the strict application process and requirements financial institutions require from their depositors, which can be a great hindrance to many. Since that does not exist with cryptocurrency, a person can easily make an account right away.

Growing investment opportunity 

Despite being a nascent technology, the cryptocurrency industry boasts a market capitalization of more than $ 2 trillion. It is an immensely lucrative industry and even institutional investors have started to get into the crypto industry. Experts believe that this sector will only grow in the future as the world adapts and takes on the needs of the post-modern population. A number of these coins are already in use and circulation today, and it will be a great investment opportunity for those who want to participate in trading them.

Where to Learn Cryptocurrency

Once you are sure what is a cryptocurrency and what are the advantages of investing in cryptocurrency, it becomes important to decide the source of knowledge. There are various free resources and paid resources to learn the basic as well as advanced cryptocurrency and blockchain. While a few courses offer a valid certification, there are many resources that are not as useful. Here is what a beginner can do to learn more about cryptocurrency. 

YouTube
DCXLearn and CoinDCX Blog 
Paid courses from Udemy,  Coursera, and other sites

Youtube – Youtube is the source of free resources on cryptocurrency and blockchain. The investors and the crypto enthusiasts who are not interested in paying for certifications can go for youtube videos. 

DCXLearn and CoinDCX Blog –  DCXLearn is a complete and free cryptocurrency and blockchain course for both beginners and intermediate investors and crypto enthusiasts. It also provides certification for its courses. If you do not want to commit yourself to any course right now, CoinDCX even publishes regular educational blogs around cryptocurrency and the latest news around the globe in this sector. 

Paid Courses – There are many educational courses across different educational sites dedicated to online learning on cryptocurrency and blockchain. However, they might be a little too much for beginners to understand. 

Eager to learn how to invest in cryptocurrency in India? We have done a detailed study of the same here. 

Summing it Up! 

We understand that the speed with which this industry is evolving is too difficult to keep up with. However, this Beginner’s guide to cryptocurrency is all you need to kickstart your crypto journey. The question of whether one should invest in cryptocurrency or not always remains. However, the main objective should be to educate oneself such that you know exactly what you are getting into. 

Stay updated with the latest cryptocurrency news around the global community with CoinDCX. Start your blockchain and cryptocurrency learning with DCXLearn, India’s simplest and complete cryptocurrency course. Start your investment journey with CoinDCX, India’s simplest and safest investment app.

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