How to invest smartly in the cryptocurrency boom
Cryptocurrencies are based on blockchain, a decentralised, distributed, public ledger payments technology. Should blockchain prove to be as efficient, scalable and secure as its advocates claim, it could seriously disrupt the legacy payment systems currently operated by banks, much in the same way the internet disrupted traditional media, communication and advertising. The central idea of blockchain is that previously powerful intermediaries become redundant in making transactions and deals. As a result, it’s no longer necessary to use a bank or other payment service provider to transfer funds. Instead, both companies and individuals can trade in cryptocurrencies, bypassing the traditional route altogether for a system that is more efficient, and arguably safer too. Today, there are four principal ways to invest in the cryptocurrencies that are growing in popularity with each passing quarter. Here, we take a look at each option: 1. Mining Many cryptocurrencies work on the ‘p...