May 12, 2021

Want to invest in crypto? Here’s what you need to know – Boston News, Weather, Sports

(CNN) — Cryptocurrency is having a moment.

Between the meteoric rise of dogecoin, Tesla accepting bitcoin as payment for its vehicles and PayPal allowing users to buy crypto on Venmo — all of which happened in just over a month — there is growing attention on and interest in the digital asset space.

Mainstream adoption of crypto has been gaining steam for years, and was accelerated by the pandemic. Cryptocurrencies, especially bitcoin, are increasingly seen as investments to hedge against inflation during times of economic uncertainty, much like to gold. And Covid-19 stimulus checks meant some Americans had extra funds to invest.

In 2020, the market of potential bitcoin investors grew to 32 million people in the United States, up 52% from the year prior, according to a survey by digital currency asset management firm Grayscale Investments, published in October. Of the respondents who had bought bitcoin in the preceding four months, 63% said the pandemic…

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