Update #66: Writing Expedition ✍️ Wednesdays: Crypto/technology

Hi Steemians,
It's another day of the week and I'm delighted to participate in this contest today organized by @steemkidss which talks about Crypto/technology. I will be making my entry below so read through it and drop your valuable comment as it will be appreciated.

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Today I want to discuss with us about cryptocurrency. Since we are Steemians and we are dealing with Steem as cryptocurrency it is necessary to know more about cryptocurrency and how they operate.

History of cryptocurrency

From my research, I have found out that Cryptocurrency started officially in the year 2009 with the introduction of the Bitcoin token. Ever since the coming of Bitcoin, there have been million or thousands of other crypto currency and project in the world some don't stand the test of time hence they will die off along the way.

In our today's world, we have seen more project coming up day in day. Also out of the many projects coming up only but a few are still very legal and legit most these days stress miners and at the end they would not even get anything in return.

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In my today's article I want to educate you all about the different projects coming up in the cryptocurrency world and how to effectively invest on them without losing your funds. So there are some key things that must be taken into consideration before investing in any crypto project and a few of these things can be seen below.

What to note before investing in cryptocurrency

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• Before investing in any cryptocurrency, investors should always make a background research about the founding fathers of the project i.e to know more about the credibility of the team members.

• Check the white paper of the project and the road map. This means you have to check all that the project promised to achieve and the time they set to achieve it. If they keep to their time without bringing up flimsy excuses then you can go ahead to invest in it but if they are not true to their promises then it is a red flag already you have to run for your life.

• Check the transparency and the reliability of the project. If a project is transparent enough to share with users how everything is been done in an open then the project will gain the trust of its investors otherwise people will be scared of putting their money because it may fold anytime soon.

• Lastly, be sure that the money you are investing in such a project is not the money meant for another purpose. This means that if you are willing to invest in cryptocurrency you must use the money that is very free and possibly your own money and not borrowed from somewhere. This is because there are many uncertainty in the market and anything can happen.

Conclusion

From the post above I believe you have been able to learn about the little history of cryptocurrency and they things needed to take into consideration before investing in any crypto project. I'm not a financial adviser but I believe this will help to guide you as you journey through the cryptocurrency space.

Here I will want to invite a few friends to also join the contest and share their entries as well. I invite @entity01, @josepha and @drhira.