Investing in cryptocurrencies is not rocket science.
There is much talk about the potential of blockchain technology and how cryptocurrencies have revolutionized the way people deal with their own financial lives. Are you one of those who are discovering this new world now and want to invest on it? This text is for you! Check out some valuable tips on how to start your investments in this industry.
Make an investment fund
One of the first steps in how to invest in cryptocurrency – and of any type of investment – is to leave a separate amount, destined exclusively for this purpose. Like all such activities, you will need to plan to start with a reasonable amount of the chosen digital currency.
Try not to allocate all your savings at one time, always trying to keep a properly stocked emergency reserve for unforeseen events of a personal nature.
Like any variable income investment, there is a risk. Only invest that resource you are willing to lose.
This is an essential step because it prevents you from withdrawing your digital currency investments in times of profit.
Check out the different types of cryptomedas
The cryptocurrency market has been providing its users with an ever-expanding range of investment options. If ten years ago, Bitcoin started this revolution, in the current panorama we have hundreds of investment options.
They can be found from cryptocurrencies that are in the phase of collection of investments for the initial launch, until those that already are properly established.
In the first case, the funds are allocated to an ICO, Initial Coin Offering. In the second case, most of the time, we have speculative investments in the purchase and sale of digital or cryptoactive coins, as they are also known.
Both fields can offer advantageous proposals, so try to know well the project you want to invest and the different types of cryptocurrencies offered.
Choose your investment model
Investments in Cryptocurrencies are divided into 3 main models: ICO’s, short-term and long-term. If you are already familiar with the stock market, the models have a lot of similarity.
For ICO’s, as previously mentioned, we have a previous investment to fund the launch of a new cryptocurrency. The value obtained at the end of the process depends on numerous factors, such as the disclosure and the advantages offered by the resource.
Short-term investments are those in which there is a daily or weekly observation of values, seeking to obtain the best values for buying and selling.
Meanwhile, long-term investments can last for months or years. In the case of Bitcoin, the absurd valuation achieved allowed long-term currency investors to achieve high rates of profit.
Did you choose an asset? Here you can get basically two ways: via P2P or Exchanges.
Have a digital wallet
Last but not least, it is essential that you choose a secure digital wallet to manage your crypto coins. This is one of the main consequences of working with investments that have no physical representation at all, unlike traditional currencies.
The use of a digital wallet resembles that of an internet banking application. Some portfolios provide, in addition to the storage of assets, a series of integrated services. These are the so-called multiservice portfolios.
Lunes Wallet is one of them. With our wallet you can store the following cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, Tether and Monday itself. With them, you will be able to pay for boletos, to make recharge of cell phone, besides the purchase and sale of currencies. And for every service, you have a cashback in Lunes! See in this article how cashback works.
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