If you are interested in crypto currency and you don’t know where to start, this article is for you. Here we provide you five tips to start buying crypto today and earn profit.
You can’t afford not to start investing into crypto right now. This is a market that has been growing at an unprecedented rate, and as it grows, it will eventually reach the tipping point where it no longer remains a niche market.
But, you won’t know when that moment happens. Don’t let that stop you from jumping in before the bubble bursts. Here are 5 tips that you can start using today to increase the likelihood of success in the short- and long-term future of crypto investing:
1. Buy Low and Sell High
The very first rule of investing is buy low, and sell high. If you do this correctly, you can make incredible amounts of money in a very short time period. However, if you’re not careful, you could end up making nothing at all.
Buying when the market is high is a sure way to lose your entire investment. You don’t want to be buying for a price that is much higher than where you want to be selling for.
You’ve probably heard this tip before, but sometimes it’s easy to forget how valuable this principle really is. When you buy a low, and you sell a high, you get to keep more of your money. This is a game theory idea that has proven itself time and time again across multiple markets.
Crypto is no different. If you take the time to learn and develop a strategy, then you can find the right opportunities in the right market at the right time.
2. Pick a Platform
that Matches Your Skill Set So, you’ve decided to start investing in crypto. The next question is what cryptocurrency exchange platform should you choose?
Well, if you’re going to do this correctly, you want to pick a platform that allows you to trade from day one, but also lets you use a trading app.
A lot of people get confused on this topic because they think that a cryptocurrency trading platform is the same thing as a traditional exchange. That’s not the case.
When investing in the crypto space, you have to pick a platform you know and love. The best way to do that is to pick something that you use every day. Something that you use every single day so you’ll know exactly how everything works.
For example, if you’re trying to invest in the stock market, there’s no better way to understand how that works than by actually doing it.
3. Pick a Cryptocurrency
Exchange You’ve chosen to buy crypto, but you need a way to actually buy it. Most people make this mistake when they first start out. They just try to look up the cryptocurrency they want to purchase, and they end up getting scammed.
There’s a reason why so many of these scams exist. If you want to be a successful crypto investor, then you have to pick a platform that lets you buy a specific coin at a good price and with a safe exchange.
The next thing you need to decide on is what cryptocurrency you want to invest into. It doesn’t matter whether you’re just starting out, or if you’ve been investing for a while, because there are still dozens of different coins that you can invest into.
There’s bitcoin, Ethereum, Litecoin, Ripple, and Dash. There’s also ethereum classic and NEM. There are dozens of different crypto coins and tokens out there that you can invest in. This is a decision that should take some time.
4. Pick a Wallet
Once you have decided on which cryptocurrency you want to invest in, it’s time to decide on where you want to store it. If you’re only going to be investing small amounts, you could just keep it on a hardware wallet like the Ledger Nano S.
However, if you plan on making big investments, then you’ll need something more secure. After all, if you lose access to your coins, then you’re going to be stuck with them forever. A lot of people use their computer as a storage space for crypto.
You’re now ready to begin investing in crypto. The last thing that you want to do is lose all of your hard-earned money. That’s why you want to choose a wallet that you know is safe and easy to use.
The very first thing you should do is set up an exchange. If you’re just starting out, then you want to buy cryptocurrency with a credit card. If you’re investing more, then you want to invest through a cryptocurrency exchange.
5. Pick a Mining Pool
If you want to start mining crypto, then the first step is choosing a pool to join. The most important things to look for in a mining pool are:
● Low Fees
● Easy to Use
● Fast transactions
● Fair Distribution
Once you’ve found a pool that fits those criteria, then you want to find out whether they’re open to new members. You want to choose one that’s already been around for a while and that has a good reputation.
The Bottom Line
Crypto investing is a great way to start earning money. However, there are a few things that you need to keep in mind before you decide on which platform to use.
Remember that cryptocurrency isn’t for everyone. It requires a lot of work to set up. That said, if you’re willing to put in the effort, then you can make a lot of money by getting in early on a trend that’s only going to get bigger.
Yes, investing can be confusing, but we’ve created a simple and straightforward investing course that explains everything you need to know. The easiest way to do that is to make sure you’re using something that you already know and trust.
Choose a platform that you use every single day and that has an easy-to-use interface. Once you’ve chosen the platform, then it’s time to decide what coin you want to invest into.