Cryptocurrency started in the early 2000s and the first coin to appear in cyberspace was Bitcoin.
Allegedly, it was created by Satoshi Nakamoto, a person (or group of individuals) whose identity was never revealed.
Cryptocurrencies can be created by anyone, so there are thousands of them circulating in cyberspace with some of the most popular being Bitcoin, Ethereum, Litecoin and Dogecoin.
Digital currency works on the concept of cryptography, where each token is created by code with the help of data stored in blocks that are connected to each other. This system is known as blockchain technology.
Some tips that can help you make the right investment choices include:
Get advice from qualified and experienced people regardless of which community you are from. Financial advisors, lawyers and accountants across Australia can offer you verified advice.
If an investment looks too good to be true, it most likely is. If someone promises you a huge return in cryptocurrency, it could be a sign that they are trying to lure you into a scam.
Lastly, don't rely on people's speculations and rumors and avoid taking advice from people who aren't really experts.
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