Ankur Agarwal, ICO consultant, the author of “How to Earn $100-$1000 Daily in Red Hot Cryptocurrency Market“, and a self-made millionaire which he credits to Email Marketing, Cryptocurrency is with us to make our readers rich. Btw, you can get the ebook at free of cost from his website, do check it out. Taking no further time, let’s discuss investments and the future of the virtual market.
Investment in the business is that thing where you have your influence. But investing in Cryptocurrency is a thing where you don’t have your authority to manoeuvre the profits. Investing in cryptocurrency involves the highest risk as well as the highest return. Therefore due to super crazy volatility, it has gained notoriety among big businesses. Whereas many start-up ventures and newbie techies are attracted towards its superfast returns compared to the conventional traditional methods.
Initially, it all started as a medium of exchange, but today it has become a worldwide phenomenon for investment. But unlike other investments, this is not actual investment. It ensures complete uncertainty in its calculations. Unpredictable growth and decline make it looks like gambling.
Important things to consider before investing in the crypto coins:
- This is not a blindfolded poker game; instead, you are compromising your money with luck. Understanding what the heck cryptocurrency or blockchain technology is all about is quite essential.
- Understanding what are you investing in. Spend time on the statistics and businesses or people involved in and how successful or failure they are.
- After gaining the extensive research, open up an account on any single exchange, for example- crack in or coin base. They are quite simple and easy to set up and deposit some money.
- This isn’t a “get rich quick” scheme. Never ever start big. Folks just hype that they can be richer overnight without doing much, but it’s completely vague.
- You can connect your bank account through the crack in or coin base and select the safer cryptocurrencies like bitcoin, ethereum or ripple. Try to pick up the safer one as per the volatility rate.
- Be your own expert. You have to deep dive into researching and educating yourself and then find out why they exist in the first place. Know the team behind them, read their white paper and what problems they solve.
Strategies for safer Crypto-investment:
- Buy a coin at the right time and hold them until it reaches in a good figure. This scheme really ensures the longevity of the coin. It is a scheme that can return the most as per return on investment and give you the best ROI over any other strategy. If you are a beginner, this buy and hold approach is highly recommended. If you buy at the right time, you’ll make money with the coin and gain much better ROI in contrast with the day trading.
- Another great strategy is cost averaging. This scheme is also recommended for the beginners. If you want to invest in a particular crypto coin and feel like it is in a hike and don’t like to drop immediately after you buy, this is a good strategy. Here, you can buy on a consistent interval like every day, week or month. It is a more conservative way of investing your coin as the lows are less low and the highs are less high. Apparently, it protects you from a significant loss.
- Locking in profits strategy is really hard to do because it goes against the human nature. Whenever the coin value gets up in the market, many people reportedly ignored to lock and earn some profits. Nothing can stay high for long. As they go really high, they can also drop fast and if you held it all the way up till all the way down, then what is the benefit of going up high. Mostly beginners fall into the greed of making money but end up pathetically.
- There are lots of day trading strategies out there; however, it may not work for those who have no hands-on experience in that. Furthermore, you have to stick all the time to the screen which is quite a drudgery.
If you would have invested on $1000 on bitcoin in the initial days of 2017, you could get 10 bitcoins. It would be about 10 times profit, and you would have made $10000.Furthermore, for low-level investment, if you would have invested $1000 in ripple about 0.6 cents, you would have got over 150,000 ripples. That means, if you had sold at the top close to $4, that would have got you over $600.
People lose millions of dollars in this crypto-gambling space just because of their greed, and that is very dangerous. You don’t mean to be greedy rather a risk-averse and minimize your risk as much as possible. It all boils down to how much speculation is in the crypto-market and what is going to drive the market ahead. There is always unpredictability whether we are going to touch one trillion dollar market capital or maybe 10 trillion market capital in the next couple of years.