If you’re wondering what the next big thing in crypto might be, you’re not alone. A lot of people are wondering about that, and right now there are dozens of candidates ranging from familiar coins like Bitcoin to new ones like Ethereum Classic. But let me ask you this, the next time someone comes to you asking what the next big thing in crypto might be, what do you say? Do you tell them that the next big thing in crypto is something they can buy today? Or do you tell them it’s an idea that hasn’t even been thought of yet?
Where did cryptocurrencies come from?
Like many things, cryptocurrencies have come to be because of people who are looking for better ways to invest money and earn. Cryptocurrencies are created through mining which is done by solving complex math problems. The more energy you put into mining, the more rewards you get (in terms of bitcoins). Just like any other investment, if you want to make money with cryptocurrencies, you need to spend money on them.
What are some popular cryptocurrencies right now?
Cryptocurrencies are digital currencies that use encryption techniques to regulate the generation of units of currency and verify the transfer of funds. The most popular cryptocurrencies right now are Bitcoin, Ethereum, Ripple, Litecoin, and Monero. Bitcoin was created as an alternative to fiat currency (government-backed money) and can be used to purchase goods or send money without going through a financial institution. Ethereum has its own cryptocurrency called Ether which can be traded for other cryptocurrencies or for fiat currencies on exchanges.
What is an ICO and what does it mean for you?
An ICO or initial coin offering is essentially when someone creates an app, token, or protocol and sells tokens for coins. It's similar to an IPO (Initial Public Offering) but instead of stocks, shares are offered as tokens.
If you're interested in purchasing coins during an ICO, there are some things to consider. Do your homework and research as much information about an ICO as possible. Review any white paper that's available and learn as much about their solution and platform as possible.
How do I get involved with cryptocurrencies myself?
The best way to get involved with cryptocurrencies is to purchase them. However, this can be tricky because buying cryptocurrency isn’t as easy as walking into a store and buying things with cash. Cryptocurrency wallets (that’s what you use to hold and spend your coins) are free, but you need to find one that supports the type of currency you want to buy.
