Crypto has become a popular word in the last few years. Cryptocurrencies are digital money that allows numerous earning opportunities for their owners. The fact is that crypto does not depend on the government or banking system. States do not control their emission. Thus, they cannot control their prices. Therefore, crypto exchanges rates are incredibly volatile.
Let’s consider what crypto prices depend on:
- general market situation;
- investors’ sentiment (fear, greed index, etc.);
- the world’s economy (crisis, etc.);
- demand and supply (sometimes the market whales change supply-demand balance, moving the entire market);
- news background and hype around some particular crypto assets.
Does Cryptocurrency Have a Future?
This is an often question beginner crypto users ask while experienced and crypto-savvy people are making a living from crypto. Cryptocurrencies are actively used for investment – people buy crypto issued by young promising projects that develop and bring a fortune in the future. Also, many traders make money on cryptocurrency rates difference, buying and selling digital assets on exchanges. We can see numerous large NFT marketplaces emerging, as well as metaverses and DeFi platforms, which are the industry’s future by experts’ analysis. So it is definitely worth getting engaged with this field.
Since cryptocurrency rates are highly volatile. It not only allows making a profit but also increases risks connected with investment. So before picking a project to invest in, learn its features thoroughly. After all, not all crypto assets presented in the market will bring you a fortune.
To pick a good project for investment, you should investigate it thoroughly:
- check out the essence of the project and what technology it brings to the market;
- check out the founders and development team. Do they have a good background?
- find early investors and partners of the project. Well-known names in the industry would not invest in low-quality products;
- check out the asset’s trade volume and capitalisation;
- find out if the asset is traded on popular platforms such as Binance, WhiteBIT, etc.
For a beginner investor, it will be useful to visit the White Blog – it is WhiteBIT’s resource with loads of helpful articles for you to read and learn the industry better and guides on investing step-by-step. WhteBIT offers up-to-date crypto rates and charts for trading.