Tips for Investing in Cryptocurrency

HabBear

hero member

Activity: 1106

Merit: 637

Quote from: BitMartExchange on April 05, 2018, 10:22:12 AM

Simply, follow these three steps: 1. Create an account on a cryptocurrency exchange to purchase Bitcoin or Ethereum.

Quote from: BitMartExchange on April 05, 2018, 10:22:12 AM

2. Create an account with a new cryptocurrency exchange.

Why are steps 1. and 2. the same?

Why not start with - which cryptocurrency do you want to invest in? Then find and exchange that offers that cryptocurrency (along with Bitcoin and/or Ethereum) with the option to buy directly from fiat?

You're complicating the process!

Darerando

newbie

Activity: 154

Merit: 0

Try this link
https://www.google.com.ng/url?sa=t&source=web&rct=j&url=http://www.warrington-worldwide.co.uk/2018/03/29/4-tips-for-investing-wisely-in-cryptocurrency/&ved=0ahUKEwjZ3qiokr_aAhUVM8AKHZ9zAMYQqQIIKygBMAM&usg=AOvVaw3Ykr-5JDnJKjlVnas5iog5
Good luck

brightology

jr. member

Activity: 209

Merit: 1

base on current prize of market, is very enough to invest on, because current market prize is down ward with a less amount than before. goodluck

renbucs

newbie

Activity: 42

Merit: 0

The altcoin scene is incredibly volatile. This can create a lot of uncertainty in the heart of a novice trader, and that can all-too-easily generate feelings of panic and fear in your gut – which is the worst emotional state to be in while trading.

Just as trading while you're fatigued from spending too much time watching the markets can be disastrous, making trading decisions because you're feeling panicky about your investment can be a terrible choice. While there's nothing wrong with trusting your gut, never make a decision based on panic and fear.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: BitMartExchange on April 05, 2018, 10:22:12 AM

1. Create an account on a cryptocurrency exchange to purchase Bitcoin or Ethereum.
2. Create an account with a new cryptocurrency exchange.
3. Purchase altcoins and plan when to sell.

1. i would never suggest investing in Ethereum to a newbie. it is an altcoin like others and it has even higher risks because its bubble is so much bigger than the others.
2. you forgot to say research the exchange first. and if you do research you will find out that bittrex which you are suggesting here is not a trusted exchange anymore.
3. this part is too vague, you are just saying "research" basically! additionally i have to say the "diversify" suggestion in the article is a bad suggestion because altcoins move together and as you can see they move with bitcoin drops and that makes diversification meaningless.

mayo2u

member

Activity: 325

Merit: 26

Quote from: MintDiceSupport on April 05, 2018, 01:09:14 PM

I would suggest also getting familiar with the process of transactions within an exchange before investing a large amount of money or before transferring large amounts of coins into a wallet.

I second this. Before buying crypto create a wallet. Then transfer a test amount from the exchange to your wallet. Do it several times for it to be come comfortable. Buy something with your crypto. You need to understand the process to become part of the crypto-community.

Do not buy and then leave the funds in an exchange.

renbucs

newbie

Activity: 42

Merit: 0

Consider laddering your buys and sells. In others words, instead of buying or selling everything in one chunk, set incremental buy and sell orders to buy when the price goes down and sell when the price goes up.

MintDiceSupport

member

Activity: 154

Merit: 11

MintDice Support

I would suggest also getting familiar with the process of transactions within an exchange before investing a large amount of money or before transferring large amounts of coins into a wallet. One can do this by playing around with small amounts first on exchange platforms. Reason being, there is simply a lot that can go wrong. Most people will lose their coins rather than them being stolen. With all the components required to perform transactions on exchanges and the meticulous double and triple checking one should do before pressing 'send' it's just good to get familiar with the process.

BitMartExchange

newbie

Activity: 365

Merit: 0

For newbies, how to invest in Cryptocurrency https://medium.com/@cryptoloveblog/tips-for-investing-in-cryptocurrency-1c3c42f7308d
Simply, follow these three steps: 1. Create an account on a cryptocurrency exchange to purchase Bitcoin or Ethereum. 2. Create an account with a new cryptocurrency exchange. 3. Purchase altcoins and plan when to sell.
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.

Topic: Tips for Investing in Cryptocurrency (Read 164 times)