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anand11223

Guest
Should I Invest in Cryptocurrency?

Investing in cryptocurrency could be a good investment, or it could not. That is true for cryptocurrency in general and likely for you as a person as well.

With cryptocurrency being young, and the market being historically volatile, there is no yes or no answer about the wisdom of investing in cryptocurrency. It is with this in mind that we cover some pros and cons and friendly (but not professional) advice. and the best and reliable platform where you can invest with and get double of your investment within 7 days.

How to invest in cryptocurrency: If you want to invest in cryptocurrency, and not just buy, sell, or trade, then you have a few options. New investors can choose between the GBTC trust sold on the stock market, a cryptocurrency IRA (we don’t want to recommend one until we have reviewed them), or an exchange-broker-wallet hybrid like Coinbase/GDAX which allows customers to buy/sell actual cryptocurrency. Each option has its pros and cons, but notably, only an exchange-broker like Coinbase/GDAX allows one to trade and invest directly in cryptocurrency. Learn more about how to invest in cryptocurrency.

General advice: With the above said, please note that we don’t offer professional legal, investing, or tax advice on this site. With that in mind, the best advice is to be prepared to lose every penny you invest in cryptocurrency, it probably won’t happen, but it could, and you need to go into the cryptocurrency with some stored up resilience. If, with that warning, you want to ease into cryptocurrency investing. Consider taking no more than 1% of your investable funds, and then get a toe wet with GBTC or Coinbase. Keep it simple to start, and then consider easing into other options like online cryptocurrency exchanges or even cryptocurrency mining. Also, consider dollar cost averaging (taking your funds for the year and buying weekly or monthly on lows). This will help you buy the average price of an otherwise volatile market. Sure, you can jump right in, but if you time the market wrong, you could be in for an unnecessarily tense roller coaster ride.

TIP: The least risky coins are usually the coins that have been around the longest and have the highest market cap and highest volume. See a list of cryptocurrencies. Anything other than Bitcoin, Litecoin, or Ethereum is riskier than those three. Of those, Bitcoin is the current top coin for longevity, market cap, and volume. It is notably also the most expensive.

Should You Invest You Invest In Cryptocurrency?

The current bear market has led some people to believe that the crypto market is destined to fail. However, what people fail to remember is that the crypto market has slumped three times in the past, and on each occasion, it recovered with a bang.

Crypto Long-term

Therefore, this is the right time to invest long-term in the crypto market as it is gearing up for a big comeback. However, I will advise that you analyze the pros and cons of trading cryptocurrencies before jumping into the deep end.

Pros and Cons of Trading Cryptocurrencies Pros: Huge Profits to Be Made

Compared to other existing markets, the crypto market is considered to be very volatile. Therefore, crypto investors have the opportunity to make huge profits as data shows that some coins have generated as much as 100,000% return to investors for its early investors.

Con: It Is Also Easy To Lose

Conversely, the unstable nature of the crypto market also majorly contributes to the risks involved in crypto investments. Prices of cryptocurrencies are almost impossible to predict, therefore, it is not uncommon to see investors incur huge losses.

Pro: No Investment Fund Limits

The cryptocurrency market is opened to anyone, you do not need to be a millionaire before you can take a seat at the table. A large percentage of altcoins are valued at a price less than one US dollar, also, bitcoin which is priced $6,500 can be divided into 100,000,000 pieces. Therefore. It is possible to buy $1 worth of bitcoin

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btaliat

VIP Contributor
It depends. You can decide to trade on cryptocurrencies instantly and get your money or you wait and keep it for some longer period. Then you sell when the price is high. I prefer the latter because it is a surest way of making money.
 

Ahmedo24

Verified member
Crypto currency investment can be short or long time investment depending on series of factors such as activities arround it , the set target to the Investment, price fluctuations though it is good to invest into Crypto currencies with the intention of long time because I have not seen any body that has Invested in Crypto currencies for a long time and still run at loss,
I was so lucky to have kept ethereum for just 4 weeks and I made 100% return on investment so in this case I could call it short time investment.
 
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