Cryptocurrencies, of which bitcoin is the most prominent, shown the world that they are the future of investments. They posed as the most easy and profitable way to make your money yield money. But, what have you think was our feels about cryptocurrencies? What do investors opined or hope about the future of cryptocurrency? What are blockchain experts really doing? Are you a cryptocurrency enthusiast? Then, dedicate your next 15mins to reading this course.
It is known that”to achieve more in life, you need to leave your comfort zone”. You may need to open your investment (comfort zone) beyond traditional instruments. You need to learn the power of the digital gold of the new digital economy.
Cryptocurrency, as it name implies, is a virtual (digital) currency. Hence, it may be used in exchange of properties. From cryptic, it infers encryption and/or secrecy of the currency. It cannot be touched nor seen. Cryptocurrencies had been a ground opener for the virtual world we’d expected.
The currency’s market is decentralized which means they are not issued or backed by a central authority. The cryptocurrency may be bought or sold in exchange. Though, the cryptocurrency exchanger will have to exchange the cryptocurrency to a government backed or traditional currency.
WHAT TO KNOW BEFORE GETTING STARTED WITH CRYPTOCURRENCY INVESTMENTS
v Know what to trade and why
Among the range of cryptocurrencies, you need to have one particular currency that has a sturdy market. You may also want one with a promising future. Cryptocurrency investors (traders) are quite wise to choose a currency without higher risks or prolly go for one with little or no investment. To learn more about how to start cryptocurrency investment with no capital or how to choose your currency market wisely, check our trending or latest posts.
v Market timing and execution
You need to understand how to track your investment’s rise and fall. You need to know your crypto market behavior and in a same vein, give all pragmatic approach to getting profit in that respect. To learn more about crypto market timing and execution check our latest posts.
v Know when to buy and sell
Here, you have to understand two things; cryptocurrencies are full of risks which may range from price fall to dearth of the currency’s liveliness and trading is a game of numbers that transfers the money of the impatient to the patient. You need to apply wisdom to your knowledge of the crypto market’s chart and flows. Read our post titled Crypto Market & Execution to know more.
v Market structure and behavior
The market, being a decentralized market, would be affected by the behaviors of investors toward that particular currency. Most currencies have been stable while others still experiences surges in price maybe it’s a rise or fall. This market value depends on its 24h volume. Your understanding of these concepts may help your journey into the digital world.
v Risk management
Risks in cryptocurrencies might be measured by various analytic techniques like observation, risk forecast, and blockchain exploration. We’ve compiled a different course on how to mitigate cryptocurrencies loss and how to grow your wealth with cryptocurrencies.
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