Louis Sutton
The Mobile Programmer

The Mobile Programmer

How To Invest In Crypocurrency

How To Invest In Crypocurrency

How To Invest In Cryptocurrency

The cryptocurrency market is well known for its volatility, so there's no definite standpoint as per the wisdom of investing in cryptocurrency. Investing in cryptocurrency could either be a good investment or not, it's all up to your ability to take risks and invest right to 'win' big therefore, confidence is highly required when investing in crypto.

If you've been hearing about just one cryptocurrency, that'd be Bitcoin which is the first crypto and dubbed 'the mother of cryptocurrencies'. The digital currency, Bitcoin which is the first peer-to-peer, digital currency to be successfully run on the Blockchain, and gain popularity was created in 2009 but ever since then, new cryptocurrencies (altcoins) have been launched almost every day and presently, there are well over 6000 cryptocurrencies with Ethereum, Bitcoin Cash, Litecoin, and Ripple are a few others in the forefront.

The Cryptocurrency Market

Cryptocurrencies are digital currencies designed to serve as media of exchange between parties, created initially as a potential replacement for traditional money in the decentralization movement. Although created in 2009, it was not until 2013 that the cryptocurrency market began to witness a huge growth and since then has been increasing in market capitalization.

The cryptocurrency market which was once solely about Bitcoin is not only about the mother cryptocurrency any longer as there are now strong-force cryptocurrencies across the globe. In 2017, the cryptocurrency market witnessed a massive growth as it increased by 4000%. The market cap of all cryptocurrencies was around $21 billion in March 2017 but is now over a staggering $454 billion.

Selecting The "Best" Crypto To Invest

Considering the high number of cryptocurrencies in existence, choosing the 'best' might be a bit complex for an investor especially a newbie.

Right now, the largest cryptocurrency which is pulling attention and investment option is Bitcoin, although some other cryptocurrencies are 'safe' and 'better' to invest

Investing In Crypto

Cryptocurrencies were not designed to be investments but as media of exchange which as an alternative to sovereign currency, helped in the decentralization movement. With time, cryptocurrencies have shown great prospect in investment which has made a lot turn that way.

Before getting started in crypto investment, you have to decide the best crypto exchange, wallet and trading strategy which you can use to support your trading activity. The most popular place to buy cryptocurrency are cryptocurrency exchanges and also, coming to the limelight now is the Bitcoin ATM. After this, the cryptocurrency would be kept in your wallet.

You must do a quality research, bearing in mind that:

  • Don't invest nervously or with doubt, risk takers thrive well in crypto investments. Don't not forget to invest only what you can afford to lose in case the story goes tragic, you shouldn't take a loan to invest.

  • You shouldn't be greedy, set realistic expectations, don’t be greedy and know when to accept a loss.

  • Enlighten yourself, ask questions from the right people for enough knowledge before you invest to make valuable profit.

  • Spread your investment across different cryptocurrencies as this is a great strategy for reducing risk. It is not ideal that all cryptocurrencies will simultaneously fall.

  • You should only allocate a small portion of your portfolio for cryptocurrency (probably between or a little above 5 and 10%). You should as well try to keep your greed in check.

 
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