Are you seeking to learn about crypto or crypto trading and investments? If you are, then you are only one among the millions of people searching for this asset class on Google. Google was flooded with queries about cryptocurrency when Bitcoin touched an all-time high of around $69,000 last year. The data on Google trends shows that people asking questions related to crypto as an investment and crypto trading are only growing in number. So, what are the most-asked questions about crypto on Google?
What’s with the Fuss over Crypto?
Now that a big portion of the global populace know about crypto trading being one of the latest trends, they have multiple questions about it. The curiosity over this relatively new asset class that is helping others earn millions of dollars is only natural. Most crypto-related queries are about cryptocurrency as an investment option or top crypto investment platforms. At the same time, there is also a majority of searches about learning the whole concept behind cryptocurrency, decentralization, and moving to another era of finances.
Overall, the whole fuss over cryptocurrency is catching on. When you look at what questions people are asking about crypto as an investment on Google, most of the questions are about the basics of crypto trading, investing in crypto, and the future of crypto.
Most Googled Questions about Cryptocurrency
1. What is Cryptocurrency?
Starting with the basics, most newbies have this primary question about cryptocurrency. It is quite anticipatory because of how the human mind functions. Most of the time, people search for this question to understand whether it is yet another form of currency introduced by the government. Not all people think like that, but it is a genuine thought.
Now to answer the question, cryptocurrency is a digital, completely decentralized currency. This means there is no central authority to control the transactions, and the transfer of crypto assets is safe and secure. It has similar uses to fiat currency and can be used to buy, sell or trade things. Crypto as an investment can also act as a store of value.
2. What should I know about cryptocurrency?
While people are interested in crypto trading, they are still concerned about whether it is the right decision. This is why Google searches are filled with this question to know more about the asset.
Some important things to know about cryptocurrency before you use crypto as an investment are the high risk levels related to crypto, potential cryptocurrency uses, top crypto investment platforms, and more. These are things everyone should know about cryptocurrency apart from the definition.
3. Is crypto safe? Who controls it?
Most of the Google searches about cryptocurrency are also related to how safe it is and if there is any controlling authority. It is all to ensure that the people put their money in the right place.
The answer to this question is that the safety of a cryptocurrency from frauds and scams is ensured by blockchain technology. Every crypto asset works on blockchain technology which offers a very high level of encryption. So, accessing someone’s crypto assets without the owner’s private key is nearly impossible.
Due to the decentralization brought on by blockchains, cryptocurrency is not controlled by anyone. It works on the principles of DeFi (decentralized finance). Although, the parent blockchain company does provide updates to the currency whenever they are required.
4. Can cryptocurrency be taxed?
Coming to investment-related questions on cryptocurrency, people often ask whether it is a taxable asset. Only a few years back, most countries did not consider crypto gains under taxable gains. Starting with the USA and many western nations, countries started taxing the gains made through cryptocurrency as an investment-based asset. Recently, India announced that the government would collect tax on capital gains from cryptocurrency.
5. How to start investing in cryptocurrency?
After being convinced that crypto trading is a good option, people often Google how to start investing. This is one of the basic questions, and the search results have a lot of opinions about how to start. The right answer is not so easy since multiple strategies can be followed. Moreover, the crypto market’s volatility makes one plan superb for one person and bad for another. So, it’s best to do your own research before getting into crypto trading.
6. What to choose for investment: Cryptocurrency or Mutual Funds?
Another one of the classic dilemmas is this question. It comes into the mind of every person who wants clarity about cryptocurrency as an investment option. While mutual funds are simple and have been in existence for a long time, crypto trading definitely brings better profits. Ultimately, it’s every user’s individual call.
The Global Cryptocurrency Trend
According to data, there are over 21,000 cryptocurrencies registered globally and over 500 exchanges that help with investing and trading them. The global cryptocurrency trend is becoming bigger by the day, which explains why so many people are becoming curious about cryptocurrency. What’s more, decentralized finance as a whole is also gaining popularity on the tail of cryptocurrencies.
Conclusion
Well, there was our brief look into what people are asking about crypto on Google. Of course, there are many more questions that are being asked on Google about crypto as an investment and crypto trading, but talking about all of them might take a book or more. What can be concluded from this discussion is that more and more are jumping on the crypto bandwagon everyday, and it is definitely accelerating the age of DeFi.