Q: Are CC Exchanges regulated by government?
For the most part, the answer is NO, which, for some users, is a big attractions of this market. It is the “wild west” right now, but governments Crypto Marketplace in most developed countries are examining this market to decide what regulation may be needed. A big decision is whether to treat CC’s as a currency or a commodity / security. Canada and USA have so far declared that CC’s are legal, however the situation remains fluid as for reporting and tax implications. Crypto TREND will be following and reporting on these developments.
Q: How do I invest in this market?
You can buy, sell, and exchange CC’s using the services of specialized “Exchanges” that act as a brokerage. You start by selecting an Exchange, setting up an account, and transferring fiat currency into your account. You can then place your BUY and SELL CC orders. There are many exchanges around the world. Opening an account is fairly simple and these exchanges all have their own rules about initial funding and withdrawals.
Crypto TREND will be recommending CC Exchanges in future.
Q: Where do I keep my CC?
To have the freedom to move your crypto currencies around, and to pay bills, you will need to have a digital wallet. These wallets come in several formats, such as desktop, cloud based, hardware (USB), mobile phone, and paper. Many of them are FREE, however, security is a big factor as no one ever wants to lose their wallet or have it stolen. Crypto TREND will be recommending digital wallets in future.
Q: What can I do with my CC?
As well as investing in CC products, you can also use crypto currency for some financial transactions, such as money transfers and paying bills. The list of companies accepting crypto currency is growing fast, and includes big hitters like Microsoft, GAP, JC Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Zynga, Subway, and WordPress.
Q: What’s next?
As we start off, we will keep each of the Crypto TREND articles short and keep the scope of each one as narrow as possible. As we noted earlier, we believe that the crypto currency technology will be a game changer and potential investment opportunities like this come by once or twice in a lifetime. Make no mistake, early investing in this sector will be only for your most speculative capital, money that you can afford to lose.
Even if you are not wanting to invest at this time, gaining an early understanding of this new disruptive technology will put you in an advantageous position to profit from our recommendations as we move forward.
Expect to see more news and specific recommendations from Crypto TREND as we start this journey into what may seem to be a foreign jungle at first. This is a volatile market and may not appeal to all investors, however, Crypto TREND will be your guide if and when you are ready.