It’s not a very difficult task to invest in cryptocurrency, thanks to the easy access available to crypto exchanges and deep penetration of the internet and smartphones. Technology has eased the access to digital currencies for potential investors. To invest in cryptocurrencies, investors need to first do some homework for choosing the right cryptocurrency and crypto exchange. One can buy these currencies using their home currencies, or US dollars, from his/her preferred exchange. However, there are some currencies that accept investment only in Bitcoins or other cryptocurrencies. 3 Cryptocurrencies and behavioral finance and economics A recent listing by Amazon for a digital currency product lead has sparked a lot of interest in the cryptocurrency space. This announcement has led to a spike in prices, as the e-commerce giant could soon begin accepting cryptocurrencies.
This digitally-native company is SEC-registered and operates within regulatory frameworks mandated by the SEC. It offers a diverse range of digital currency-based products, such as the Grayscale Bitcoin Cash Trust and the Grayscale Ethereum Trust. Aside from Bitcoin Cash and Ether, its other investments include Bitcoin, Litecoin, ZCash, and Stellar. What are cryptocurrencies? After high levels of volatility diminished the value of several prominent cryptocurrencies in 2022, a handful of crypto firms were unable to pay back their lenders, which were primarily other crypto firms. Many borrowers and lenders declared bankruptcy, including FTX, at the time the world’s third-largest cryptocurrency exchange. The collapse of FTX and other firms resulted in tens of billions of dollars in losses to investors, though traditional financial firms were relatively unscathed.