5 tips to keep in mind before investing in cryptocurrencies

Do you want to invest your hard earned money in cryptocurrency? If so, make sure you meet the criteria before making a final decision. Without considering important factors, you may risk losing your money. There are many cryptocurrencies, such as Blockchain or Bitcoin. In this guide, we will share with you some tips that you can follow before depositing your money. Read on to learn more.

1. Don’t invest too much

First of all, don’t invest an amount you can’t afford to lose along the way. In other words, it should be an amount of money that is not needed to meet your routine needs. In case you lose your investment, your life should not be affected. It is not a good idea to take out a consumer loan to invest in a cryptocurrency.

2. Study the subject first

Before you make an investment, be sure to study the subject first. After all, it is not wise to invest in something you have no idea about. For example, would you buy a house without looking at it from all sides? No one will do that.

However, this does not mean that you have to become an expert before making this investment. What you need to do is understand the general terms related to the industry.

3. Diversify your investments

Another thing is to focus on diversification. In fact, this concept matters regardless of the type of field in which you want to do business.

In other words, you may not want to invest all your money in just one business. For example, if you have 10 eggs, you may not want to put them all in one basket. Use two baskets instead. That way, even if you drop one basket and break all the eggs, you’ll still have half the eggs in the second basket.

So, what you need to do is invest your money in various businesses, such as real estate and cryptocurrency.

4. Interchange transfers

Make sure you use a good cryptocurrency platform. With the help of this platform you can buy any of the popular cryptocurrencies such as ETH and BTC. If you want to buy a different currency, you need to transfer your currency to an exchange. On these exchanges you can exchange your currency pair without any problems.

5. Do your own research

As we said earlier, you may want to do some research before making a move. Investing on the advice of a friend or relative is not a good idea. You can use a variety of tools to do your homework, such as Google, Skype, Discord, Telegram, Twitter, discussion forums, and white papers, to name just a few. It is important to take the time before investing in a project.

So, be sure to follow these tips before investing your money in the world of cryptocurrency. In this way, you can avoid common mistakes that most investors make. I hope this helps.

6 Benefits of investing in cryptocurrencies

The birth of bitcoin in 2009 opened the door to investment opportunities in an entirely new type of asset class – cryptocurrency. Many entered the space path early.

Intrigued by the enormous potential of these nascent but promising assets, they bought crypto at cheap prices. Therefore, in 2017, they became millionaires / billionaires. Even those who didn’t gamble much made decent profits.

Three years later, cryptocurrencies still remain profitable and the market is here to stay. Maybe you are already an investor / trader or maybe you are considering trying your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrency has a bright future

According to a report entitled Imagine 2030, published by Deutsche Bank, credit and debit cards will become obsolete. Smartphones and other electronic devices will replace them.

Cryptocurrencies will no longer be seen as exiles, but as an alternative to existing monetary systems. Their advantages such as security, speed, minimum transaction fees, ease of storage and relevance in the digital age will be recognized.

Specific regulatory guidelines would promote cryptocurrencies and accelerate their adoption. The report estimates that by 2030 there will be 200 million users of the cryptocurrency portfolio and almost 350 million by 2035.

Opportunity to be part of a growing community

#IndiaWantsCrypto on WazirX campaign recently ended 600 days. This has become a massive movement supporting the adoption of cryptocurrencies and blockchain in India.

Also, a recent Supreme Court ruling lifting RBI’s 2018 ban on crypto banking has brought a new surge of confidence to Indian investors in bitcoin and cryptocurrency.

The Edelman Trust Barometer report for 2020 also points to people’s growing faith in cryptocurrencies and blockchain technologies. According to the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% say that the impact of the cryptocurrency / blockchain will be positive.

As a cryptocurrency investor, you are part of a thriving and fast-growing community.

Increased profit potential

Diversification is a basic rule for investment. Especially at a time when most assets have suffered heavy losses due to economic hardship caused by the COVID-19 pandemic.

While investments in bitcoin have given a 26% return since the beginning of the year, gold has returned 16%. Many other cryptocurrencies have registered three-digit returns on investment. Stock markets, as we all know, are publishing grim results. Crude oil prices fell below 0 in April.

Including bitcoin or other cryptocurrencies in your portfolio would protect the value of your fund in such uncertain global market situations. This fact was also impressed by the billionaire manager of macro hedge funds Paul Tudor Jones, when a month ago he announced that he plans to invest in bitcoin.

The cryptocurrency markets are at 24X7X365

Unlike conventional markets, cryptocurrency markets operate around the clock, all days of the year without fatigue. This is because digital currency systems are designed essentially with the help of software codes that are protected by cryptography.

The operational plan does not include human intervention. So you can trade crypto or invest in digital assets whenever you want. This is a great benefit! Cryptocurrency markets are very efficient in this way.

For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.

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No documents or formality required

You can invest in bitcoin or other cryptocurrency anywhere and anytime, without unnecessary conditions.

Unlike conventional investment options, where an absurdly large amount of documentation is required to prove yourself as an “accredited investor”, crypto-investment is free for everyone. In fact, this was the goal set for the creation of cryptocurrencies. The democratization of finance / money.

To purchase cryptocurrency WazirX, you need to open an account for which you just need to provide some basic details, including information about your bank account. Once checked, within a few hours, you can leave.

Sole proprietorship in investments

When you buy bitcoin or another cryptocurrency, you become the sole owner of that particular digital asset. The transaction takes place in an equal agreement.

Unlike bonds, mutual funds, stockbrokers, no third party “manages your investment” for you. You can call the sales photos whenever you want.

Consumer autonomy is the biggest benefit of cryptocurrency systems, which provides incredible opportunities to invest and build a corpus on your fixed capital “independently”.

These were some of the benefits of investing in cryptocurrencies. We hope you find them useful and compelling enough to launch your crypto investment journey.



Source by Danish Malik