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Tips for Investing in Cryptocurrency

Wed Apr 25, 2018 5:22 pm

Create an account on a cryptocurrency exchange to purchase Bitcoin or Ethereum.

Bitcoin and Ethereum are the fundamental coins in all of cryptocurrency. In addition to being used as forms of investment themselves, both Bitcoin and Ethereum are universally accepted as payment for altcoins on exchanges. These altcoins, while extremely volatile, offer some of the highest ROI if you invest properly. There are a few exchanges that let you purchase Bitcoin or Ethereum using fiat currency (i.e., USD), Coinbase is the most popular of these exchanges, but there are others you can find that might offer a cheaper rate. It’s also important to note that you don’t have to buy a whole Bitcoin or Ethereum token, you can purchase them in fractions as well (i.e., .005 BTC), saving you thousands of dollars.

Create an account with a new cryptocurrency exchange.

You can use some of the bigger exchanges such as Binance or Bittrex if you’d like, but you would be missing out on a lot of the benefits new exchanges have to offer. In my opinion, finding new exchanges for your altcoins is vital to investing. Often these exchanges have a lot of promotions, including free coins, low trading fees, and fewer barriers to register. Just be sure that that the exchange you pick is one you feel comfortable trusting with your funds.

One new exchange I love right now is BitMart. They have started to list more coins and I suspect they will continue to do so at a steady rate. They currently offer XLM/ETH, MOBI/ETH, and BMX/ETH trading pairs. BMX is their own utility token which can be used as payment for transaction fees (similar to Binance’s BNB token). They have a ton of promotions to earn free BMX right now too, which you can find on their twitter. They also offer 0% transaction fees until April 15th, meaning you can save all the BMX you get early on and use it on the exchange later when they have more trading pairs.

Purchase altcoins and plan when to sell.

There are hundreds and thousands of altcoins in the crypto world so I’m not going to tell you which coins you should invest in. However, I will give you some general tips on how to select the right coins to invest in:

1. Search for altcoins on CoinMarketCap. CoinMarketCap is easily the most popular website to research altcoins. You should only consider investing in coins within the top 100 by market capitalization.

2. Don’t invest in a coin just because its value has grown recently. It may be nearing its peak value, in which case you won’t be able to maximize your ROI. In some cases, you may even lose money. However, there are exceptions where some external factor points to continued growth, which is why the next step is important…

3. Research as much as you can about newer coins and think to yourself why the coin may grow in value based on its applications. Things that you should look for include project whitepapers, blogs, and community subreddits.

· Blogs: Bitcointalk, Coindesk, Cointelegraph, Bitcoin.com, Coincentral, NewsBTC, Blockgeeks, CCN.

· Subreddits: r/Bitcoin, r/CryptoCurrency, r/Ethereum.

4. Diversify your portfolio. By investing a small amount in multiple coins rather than a large amount in one specific coin you protect yourself from sustaining larger losses due to any unforeseen circumstances arising with one particular coin.

5. Set goals for your investments for when you want to sell (i.e., +10%, +25%, etc.). Even though it may be hard to watch a coin’s value increase after you’ve sold, it’s better than losing money. Be sure that you set a goal worth the risk of investment as well. You wouldn’t sell at a 10% gain if the investment was only for $100.

Disclaimer: These are my opinions, as such, they do not constitute financial advice. While some people have made a fortune by investing in altcoins, others have lost money. You should never invest more than you are willing to lose and if you wish to be one of the few people who succeed then you have to be smart about it.

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Ronald S
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Donate BTC of your choice to 3D88DkB5nbgoxN4NN5THwMKQqZvs1H6neP

Re: Tips for Investing in Cryptocurrency

Fri Apr 27, 2018 12:43 pm

Great tips. I think when we plan to buy an altcoin we should do some research about them before buy that this altcoin which we are going to buy and want to hold has potential to grow and we can make a profit with or not.

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Yogay
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Re: Tips for Investing in Cryptocurrency

Fri Jun 22, 2018 6:17 pm

My advise to young investors is to invest in new Initial Coin Offerings. I know the risk is enormous but the outcomes could be life-changing. You should check the development team and do background research on the ICO.

Christopher5
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Re: Tips for Investing in Cryptocurrency

Mon Mar 18, 2019 1:40 pm

Crypto Currency is becoming the most investing Company and it is for every one all around the word. I think the Crypto is a currency which you can't get in your hand But yes we can only transfer it from one place to another. Well I have also Invested some Crypto in one of the best Writing companies And I also checked the next page of this post where I can get more information about trading via Crypto currency But please let me know if it also Effect the time when we purchase these Coins in USD. Because some of my Team mates told me that When ever I buy coins and if I withdraw I will get money with respect to the same as which price I buy.

m3ndshok3r
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Re: Tips for Investing in Cryptocurrency

Mon Mar 18, 2019 1:50 pm

My advise to young investors is to invest in new Initial Coin Offerings. I know the risk is enormous but the outcomes could be life-changing. You should check the development team and do background research on the ICO.
I would like to add to this, in the mean time they can learn how to trade and how to use leverage on trading platforms like PRIMEXBT and others.
Would also be good to learn the instruments so they have more control upon their investments and how to build orders and little lady strategy.

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Re: Tips for Investing in Cryptocurrency

Fri Mar 22, 2019 10:11 am

My tip is simple and that’s to invest into reliable options, instead of random ones. If we do that then only we will be able to gain money and that in a very consistent way as well. There are some very very cool Upcoming ICOs, which we can use for investment and something that can really benefit us a lot in long run. But of course, we really need to get it all worked out wisely and towards benefitting us instead of joining because it looks good.

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Re: Tips for Investing in Cryptocurrency

Fri Mar 29, 2019 10:56 am

Many new traders are blindly staring at maximizing profits and making profits in every trade. It is just as important to avoid making the most common mistakes when trading cryptocurrencies.

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Snowmoon
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Re: Tips for Investing in Cryptocurrency

Thu Apr 25, 2019 11:35 am

Cryptocurrencies need a lot of caution before you decide to invest in them. This is because of the instability and insecurity associated with them. Invest in reliable options instead of random ones and do your research well to avoid making common mistakes

swipka777
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Re: Tips for Investing in Cryptocurrency

Sat May 04, 2019 4:40 pm

As for me, I don't like to invest in crypto. I am currently using https://bonus-ci.com/ where I can make money on betting and watch my favorite sport online. I think that bitcoins and other crypto are not so popular as earlier.

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