Help me understand the cryptocurrency market

[hiramehar]

From my little knowledge. Cryptocurrencies are primarily used to buy and sell goods and services, though some newer cryptocurrencies also function to provide a set of rules or obligations for its holders.They possess no intrinsic value in that they are not redeemable for another commodity, such as gold. Unlike traditional currency, they are not issued by a central authority and are not considered legal tender.
I need help in understanding the crypto market and investment advice in order to  invest effectively  on bitcoin market

[Zuriel]

Just keep yourself away from being so much excited to every news you heard about an ICO that speak too much about profit to save yourself from the big possible lost. If you are serious about investment invest in small amount first and or invest to a coin like ethereum while you are on the road of learning.

[sugarchrisp]

Cryptocurrencies are any sort of technology built upon a blockchain, making it inherently decentralized.  They don't have inherent value, but there are plenty of places to turn bitcoin back into fiat currency so you can effectively trade it for commodities if you want.  There are a few crypto exchanges in the works as well that will allow cryptocurrency and commodity pairings, so you actually will be able to trade crypto directly to gold or oil or other things like that. 

[verifyme]

The crypto market goes up and down and easily changes in just a matter of hours. Because of that, as a crypto investor you need to be mentally prepared so that you don't panic easily when the trend goes down. Take the opportunity to buy coins when the market goes down to get a big profit when bullish.

[whandut93]

Actually, the right trading strategy is just a theory and will become a reality if you want to practice it correctly. Only by testing, you can prove whether the strategy can work correctly or not.