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Cryptocurrency Investment: How To Invest In Cryptocurrency In 2020
2019-12-17 19:22 (GMT+8) visibility 326 thumb_up 7



Cryptocurrency investment has been an intense debate-subject over the past few years. We heard a lot of stories about people who became millionaires overnight. Meanwhile, we also heard stories of people who lost thousands of dollars while they are hoping to get a quick profit!


The fact that you are reading these lines now means that some of these stories have already reached you, and might you have several questions about cryptocurrency investing.


In this guide, we're going to tell you everything you need to know about cryptocurrency investment and how to invest in cryptocurrency like gainfull investors.


The first four sections are about the basics of cryptocurrency. If you are hurry to look at the ways to invest in crypto, feel free to jump into the fifth section: How To Invest In Cryptocurrency For Profit?

Post Contents [hide]
1.The Rise of Cryptocurrency: Bitcoin’s Pizza


Before we get going, let me tell you the story of the most expensive pizza in history. When the geek programmer, Laszlo Hanyecz, purchased “2 pieces of pizza for 10,000 BTC coins On 22 of May 2010. At that time, owning Bitcoin wasn't attractive, BTC coin’s price was only a few cents, and no store accept BTC.



But two years later, something shocking happened which changed everything. Starting from 2012, the news websites began to shed light on this story and comparing bitcoin's pizza price in 2010 and its current price (presumably).


Since then, May 22 of every year has become a day when the Bitcoin community celebrates the most expensive pizza in history. This event has forever enshrined just like a crypto community’s Christmas.  

Interestingly, the guy who got 10,000 BTC for two pieces of pizza ( which cost a mere $25) might have more than $80 million according to BTC price today.


This story is not about pizza; it is about the greatest investment ever seen in our modern times; crypto-investment, Bitcoin, and money! Yeah, money in our world has two facets; one is traditional while the other is digital beyond our sensory world.


If social media had given new concepts to friendships and human relations, So did cryptocurrency. This new form of money had quickly spread, recorded historical leaps, and gave worthful returns that weren't gained by any major currencies, nither stocks, metals, oil, or even gold.


Bitcoin, The first cryptocurrency which doesn't subject to any central bank, its price moved from a few cents when launched in 2009 to reach $ 9,500 as of today's price while it recorded all-time-hight at the end of 2017 by almost $ 20,000 for each BTC coin.


A widespread-acceptance for the first cryptocurrency, followed by arising new other cryptocurrencies. All of which have triggered a massive appetite to invest in cryptocurrencies. But the question arises.


2. Is It Worth To Invest In Cryptocurrency?


In fact, investing in cryptocurrencies could be incredibly profitable. Many investors achieved great returns on their cryptocurrency investments.


Moreover, many economists see cryptocurrency as a very promising investment opportunity, while others warn that cryptocurrencies are highly volatile and risky.


However, many people had jumped on crypto-investment with no study, nor understanding of this market, or even any investment plan. You can imagine what happened! Many of them lost part of their fund or even all of it while they are attempting to gain rich quick.


What you don't know about the cryptocurrency market; although it is highly volatile and high-risk, it can make big profits for those who understand the risks associated with it.


Any investment in this world whatever it is should have a plan, there are some risks, and there are some rules and guidelines that must be followed in order to achieve satisfactory returns.


Our aim in this article is helping you understand the cryptocurrency market and how successful investment needs to be in the first place to be able to make worthwhile crypto-investment


Ready, let's get going.


3. What Is Cryptocurrency? And How It Works?


Cryptocurrency is digital money that does not have a physical presence, and not like the securities, nor countries' currencies such as euro, dollar, and others.


It is only available online, designed to serve as a means of exchange, allows instant transactions, and it can be transferred without limits anywhere. It uses encryption to secure and verify transactions as well as to control the creation of new coins.


In other words, cryptocurrency is designed to be money that you can trade online, by which you can buy what you want at any time, and the interesting part, cryptocurrency is fast in transactions, low-cost, and provides privacy.


The best part about Cryptocurrency is that it can be used for plenty of purposes like buying, selling, donating, exchange stuff, trading, or even as a hedge against risks. Generally,  cryptocurrency has the 4 features as bellows:


●  Transaction fees — Cryptocurrencies transactions are ultra-low that tend to zero at transferring between wallets.


●  Anonymity — cryptocurrencies are based on peer-to-peer, meaning that there is no intermediary or third party between the sender and the receiver, which supports the privacy and security of your transactions.


●  Deregulation from conventional banks — No central authority can freeze to your account or confiscate your crypto funds without access to the wallet where you hold your cryptocurrencies.


●  Crossing the geographical border borders — Cryptocurrencies can dealing from anywhere and anywhere. It's easy to send money to someone close to you who lives far away from you, without having to comply with bank restrictions or other money transfer companies.



It's interesting how much unique features cryptocurrencies have, but where does it all come from! Well, you probably can't know the answer without understanding how these cryptocurrencies work.


How Cryptocurrency Works?


Since Bitcoin's creation in 2009 as a peer-to-peer electronic cash system, many other cryptocurrencies have been created, and each one has a specific mechanism of work. But one thing connects nearly all cryptocurrencies—blockchain technology which the critical element in cryptocurrency's structural.


What makes Cryptocurrency unique is being decentralized, which means that no government, bank, or any institution controls it. But in the meantime, every transaction is recorded and encrypted in a block. This block is linked to other blocks to be a series of blocks that can not be modified called the blockchain.


What most people don't know is that cryptocurrencies have emerged as a by-product of another invention, Blockchain. With a few exceptions, blockchain is deliberately designed to be a decentralized network acting as a digital ledger maintained by a distributed network of computer nodes. These distributed computing systems are working on verify transactions and maintain the network in a process called mining. In return, those participants get some cryptocurrencies.


In other words, Blockchain is a constantly growing list of records called blocks, which are linked and secured by encryption. Each block is linked to the previous block and contains a timestamp and transaction data. This means transactions can be carried out transparently and reliably without the need to trust brokers or third parties.


That's why blockchain technology able to create economic systems that do not need trust in third parties. Cryptocurrency adopted as a viable alternative to traditional exchange and payment systems, which rely heavily on the confidence factor.


Although cryptocurrencies are based on the same technology, there are several different types.


4. Which Cryptocurrency To Invest In?


The blockchain brings together the three main types of cryptocurrency. After Bitcoin, many new blockchains were created — these are called altcoins. Then the Dapps emerge with a new type called Tokens.


Bitcoin


About ten years ago, the mysterious Satoshi Nakamoto published Bitcoin white-paper, which describes "A Peer-to-Peer Electronic Cash System.".


Whatever the founder, Bitcoin was the beginning of cryptocurrencies — the beginning of a new era that could cause revolutionized in the financial world. Since then, Bitcoin has become a part that is never absent from world news, culture, global economy, and BTC price grew exponentially.


Altcoins


After Bitcoin's spreading, we have seen launching dozens of cryptocurrency versions. These cryptocurrencies called "altcoins". Some are defining altcoins as "alternative versions of bitcoin", referring to any cryptocurrencies other than bitcoin. as altcoins.


Nowadays, there are more than two thousand altcoins according to Coinmarketcap! But don’t let that number scare you —the majority of altcoins are just attempting to imitation Bitcoin. However, several altcoins have so different purposes from Bitcoin and more sophisticated technology. NEO, Litecoin, Eos, Cardano and many others are solid examples of altcoins.


Ethereum and NEO are the best examples of altcoins that are so different from Bitcoin. While Bitcoin designed to be used as digital cash, Ethereum and NEO designed to be more than that. These Altcoins designed as huge platforms for building Dapps (decentralized applications).


Interestingly, anyone can builds applications on Ethereum and NEO blockchain. It is the most common to create new cryptocurrencies.


Tokens


This type of cryptocurrency is what we just talked about; it is that 'token'  used on DApps are constructed to use smart contracts technology on blockchains like Ethereum and NEO. That is why Dapps use tokens.


These tokens could represent a physical thing or non-physical things. It can be used to purchase stuff on the dApp or to get certain advantages — like discounted fees, gifts, and games.


However, some people are just buying tokens to sell them later for a higher price, instead of using them on the dApp. Examples of this type include Chainlink (LINK), Zilliqa (ZIL), and WePower (WPR).


After understanding the basic knowledge of cryptocurrency, our next part about what cryptocurrency to invest in, then to jump on our key section -- How to invest in cryptocurrency.


What Are The Best Cryptocurrency To Invest In? 


Bitcoin emerged as the first cryptocurrency, many Internet users associate the idea of cryptocurrencies with Bitcoin. They do not know more about the rest of the currencies that appeared after him.


The shocking fact is that the cryptocurrency market has more than 1000 cryptocurrencies to date. But what dominates the scene and the most famous in the world of cryptocurrencies, is a small list of currencies and most important:


Our selection of the best cryptocurrencies depends on a range of factors, including market capitalization, trading volume, its purposes, used technology, developer team, the community behind, future prospects, and so on.


1.  Bitcoin


Bitcoin is the beating heart of the entire cryptocurrency market based on the brilliant technology "blockchain." This revolutionary idea of Bitcoin influences most cryptocurrencies.


But Bitcoin still the dominant cryptocurrency, occupying the first place in terms of market capitalization. This cryptocurrency has received a lot of attention from the financial institutions around the world, which adopted it widely. It also still the best investment place in the cryptocurrency market.


2. Ethereum


Ethereum is one of the most promising projects in the cryptocurrency market comes with its sophisticated technology. It is launched in 2015 by the talented math guy Vitalik Buterin, and other partners.


Ethereum is the second-largest cryptocurrency in terms of market capitalization, trading volume, and popularity after bitcoin. It is also the fastest cryptocurrency growing — it grew over a thousand times shortly after its appearance and is considered the most active competitor on crypto-market share after Bitcoin


3. Ripple


Ripple has succeeded several times in reaching second place in of top cryptocurrency value for a while before it gets back to third place.


Ripple is a convenient option for banks and financial institutions wishing to take advantage of the potential of blockchain, as the cryptocurrency XRP acts as an intermediary to facilitate financial transactions and reduce processing time, as well as reduce remittance fees.


4. Bitcoin Cash


Bitcoin Cash is what is known as altcoin - a virtual currency that works essentially in the same way as Bitcoin. Bitcoin Cash is just a branch of Bitcoin. It is a result of Bitcoin's hard fork which separated the original blockchain and gave out each blockchain a different governing set of rules.


Bitcoin Cash created to solve the scalability problem of the size of the blocks in the Blockchain, as the capacity constraint has caused the problem of high fees and delays in transactions. That is why part of Bitcoin's community vote for this hard fork, they sought to increase the size of each block in order to improve this scalability problem.


5. Litecoin


Litecoin (LTC) is similar to Bitcoin in many properties, and it is one of the most veteran and highly popular cryptocurrencies. However, Litecoin is four times faster, with cheaper transaction fees than Bitcoin.

Litecoin now is the fourth largest cryptocurrency with a market capitalization of $ 3,46 billion. Interestingly, some investors have labeled Litecoin as “digital silver,” while they have described Bitcoin as “digital gold”.


Well, we have enough knowledge of what we are dealing with in crypto investment. Let's turn to our vital part of the article.


5. How To Invest In Cryptocurrency For Possible Profit?


The cryptocurrency market is one of the most attractive markets for investors in our current era. Great investment opportunities are emerging day by day in this area. Here are the best common investment methods for making money from cryptocurrencies. 

 

Cryptocurrency Trade


 


According to recent statistics, the United States is adding about 700,000 new millionaires emerge each year, as mentioned in the Credit Suisse Research Institute's Global Wealth Report. In a similar vein, the 'Millionaire Traders' book points out, a large proportion of millionaires around the world reaped their wealth depending mainly on the trading in financial markets. That means tens of thousands of new-millionaires arising every year thanks to trading, and this only in the United States. 


Trading provides great opportunities to earn a lot of money, how is that? And, how to trade Cryptocurrency?


Crypto Chart Reading


First of all, if you don’t have a financial or technical background and want to involve in the cryptocurrency market, your first steps will be confusing. Therefore, If you want to trade effectively and professionally, you need to know how to read the candlestick chart.


At first glance, some stuff might seem like a complicated task. But in fact, it can be super straightforward for anyone who wants to learn. In this section, we will explain some basics to help you how to read the chart of cryptocurrency trading.


Let's start with the key elements of the cryptocurrency charts.


1. Candlesticks (Bearish and Bullish)


To begin with, the crypto charts have two types of candlesticks which are Bearish and Bullish. By default, the bullish candlesticks are represented by green candles, which indicates that the price has increased during the selected time frame. Each candlestick has an opening price, closing price, body, and wicks (which represent the highest and lowest prices).



2. Time Frame Selection


In crypto charts, candles cover a specific time frame. So, it is essential at first to choose the time frame that you want to cover candles. This means that the encryption candlesticks will show all the transactions that occurred in the time frame you selected.


For example, if you choose the Bitcoin timeframe for five minutes, each candle will represent 5 minutes for the bitcoin transactions.


bitcoin investment-how to read candlestick.png

Picture: Bitcoin trading on Mitrade


You can choose from default time frames (5 minutes, 15 minutes, 1 hour, 4 hours, daily, weekly, monthly).


3. Volume


The standard crypto chart always displays what called Volume, which represents how much trades executed during the selected time frame.


 cryptocurrency analysis tool


The longer the volume bar is, the more buying or selling pressure is. A green volume bar will highlight an increased interest in the coin and buying pressure. On the other hand, a red volume bar will highlight a decrease in interest in the coin and selling pressure.


That's was the necessary knowledge to read the crypto charts, we will devote a more detailed guide about technical analysis using indicators, but this part is enough to move to the next point.



Most Popular Ways of Cryptocurrency Trading


Crypto trading is a psychological game by far and more than people expect. It is therefore of paramount importance to choose the method of trading that suits you. Otherwise, it may end up in negative results. To clarify, crypto trading has three main styles:


● Day trading cryptocurrency


Daily trading of cryptocurrencies is a type of trading that a trader does during most of the hours of the day, which is a day during periods when the market is more active, as it is no secret that the crypto market has high fluctuations in prices.


Daily trades take minutes to a few hours. It is short-term trading and is generally considered for people who want to monitor and develop their investments at the end of each day. Other commitments as a daily trader are likely to be complicated.


Traders of this type sit in front of the screens watching the market movement throughout the day, continue to search and do several buying and selling throughout the day. They keep their eyes on market trends and act quickly. It is hard-work with high-risks that require adrenaline rush. Most of the day-traders I know are youngs who take a large amount of caffeine. If you are not, don’t think of day trading.


● Swing trading cryptocurrency


In swing trading, the trader makes trades and leaves them open for at least one day to close these trades after a few days or several weeks according to the trader's estimation and expectations of price movement.


It is a middle-of-the-line approach between day trading and long-term investment. Swing traders rely mostly on technical analysis and fundamental analysis to make their decisions to enter and exit trades. Swing trading based on trying to predict the direction of the price during the past few days through studying the price movements on the chart on a daily or sometimes even weekly time frame. Swing traders do not consume too much time like daily traders, they do not need to stay stuck to the screen of your computer throughout the day and they have less stress.


You do not need to leave your job to do swing trading. If you are proficient in technical analysis techniques and an expert on how the markets work, you will only need minutes to find opportunities that suit your trading method. Moreover, when you do your trades with a specific and thoughtful plan, you will be farther from tension.


● Long-Term Trading


The long-term trading suits the investor who is willing to take his eyes off the market charts for a while and do other business, it just like buy and hold. Traders do not depend on cryptocurrency trading as a means of livelihood.


Long-term investors are those Hodlers who buy and wait for a long time. They do not care much about what happens during the day or even the week, and vision extends for years.


This type of trading requires a certain amount of trust in cryptocurrency holdings, most likely attained after an in-depth study of the white paper and previous market history of the cryptocurrency of interest.


6. Where To Invest In Cryptocurrency?


After getting a general idea of what cryptocurrencies are, how it works, and how to invest in it. Let's turn to talk about how to choose the best platform for trading cryptocurrencies.


What to look for when choosing the Cryptocurrency investing platform?


Before involving in any platform to buy/sell, trade, or hold cryptocurrencies, there are several things to consider, the most important are:


● Regulation —  It is important that you open an account in a regulated cryptocurrency trading platform.


● Fees — Before joining, make sure you understand fee-related information such as deposit, transaction and withdrawal fees. Fees could differ significantly depending on the broker you use.


● Trading Options — It is exciting to be able to invest in many financial markets at the same time. The best option is to work with a broker that offers a wide range of markets for trading.  


● Easy-to-use — A user-friendly interface is crucial for the trading platform as bad interfaces could confuse the trader, which may lead to some errors or even accidental losses.


● Fast Execution — Some platforms may take several minutes to execute a buy or sell order, and this is not normal; it should take only a few seconds or less.


Some places that match the important features mentioned above


1. CFD brokers


MiTrade


Headquarter: Australia/ Founded: 2011 / Employees: 150

Deposit method: Wire transfer, bank transfer, debit/credit card, e-wallet

Available countries: Australia and Other 10 countries


A cost-effective platform to trade cryptocurrency, which is a fully licensed CFD broker founded in 2011 and is regulated by ASIC. MiTrade provides high-quality online trading on popular cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, etc.) in addition to Forex, indices, Commodities, and others.


With the most convenient trading services that traders are looking for, MiTrade offers users many trading options like long and short trading on cryptocurrency by execution speed from 0.1s, zero commission, low spreads, margin, and best tools to manage trades.


Check the details on their trading platform ››


2.  Crypto Exchanges


Binance


Headquarter:  HK/ Founded: 2017 / Employees: 201-500

Deposit method:  Cryptocurrency

Available countries: Almost global, but except the US and more.

 

A popular cryptocurrency exchange started in China in 2017, then moved to Malta (the crypto-friendly Island). While the company is still new, it provides a good trading service with plenty of cryptocurrencies on its platform.


However, it is not regulated, the execution speed is slow for the vast majority of trading pairs and some times it be buggy.


BitMEX


Headquarter:  HK/ Founded: 2014 / Employees: about 200

Deposit method:  Cryptocurrency

Available countries: Almost all countries but no America

 

BitMEX is a trading platform launched in 2014, and it offers a margin-trading service for Bitcoin traders. BitMEX platform could be aggressive (buggy), especially when the bitcoin market is so active, and its fee is high.

 

Cex.io


Headquarter: London / Founded: 2013 / Employees:150

Deposit method: Credit Card, Debit Card, Bank Transfer, Cryptocurrency

Available countries: Worldwide, UK, USA, Australia, Europe ( 100+)


Besides crypto-trading, this platform enables users to buy cryptocurrencies via credit card and also to sell their crypto with the ability to withdraw funds to the credit cards. Despite these unique features, the platform is charges too high services' fees, slow execution, and it is unlicensed.



  Fees

Easy to use

 Execution Speed

 Regulation

 MiTrade

  Low 

Easy

 Fast

 Regulated by ASIC

 Binance 

  Low

Easy

 Slow (sometimes buggy)

 Not Regulated

 BitMEX

  High

Confusing for beginners

 Slow (buggy platform)

 Not Regulated 

 Cex.io 

  High fees

Confusing for beginners

 Slow

 Not Regulated 


7. Risks Of Cryptocurrency Investment


At the outset, we have to admit that the cryptocurrency market is still in its infancy, and is experiencing instability like any new influential invention in the world. It also faces some risks that may increase or decrease in the future.


Consequently, You have to understand these 5 risks and keep them in mind so that they are not easy prey, and also do not lose the money you want to invest in cryptocurrencies.


● Cryptocurrency Scams


The worst thing that can happen to you as an investor in the cryptocurrency market is that you fall victim to the scam, where the fledgling industry is filled with many forms of fraud in one way or another.


In fact, the cryptocurrency market is complicated, confusing to vast of new users and lightly regulated — all of which makes it an ideal target for scammers. As a result, many bad actors exploit this point to do their fraud in order to plunder investors' money.


The most famous cryptocurrency fraud methods that intended to separate investors from their hard-earned money including, but not limited to: Scam Coins, Fake News, Fraudulent ICOs, Phishing, Mining scams, Ponzi Schemes, Money Transfer Fraud, Malware, Fake Apps & Scam Softwares, plus fake exchanges and wallets.


Read more about the cryptocurrency scams and how to avoid them here: 15 Common cryptocurrency and Bitcoin scams 


● Regulatory Issues


Authorities are concerned about a completely uncontrolled financial society. Bitcoin's ability to use almost anonymously is a cause for concern, as that would make it attractive for criminals. They are fear from decentralization nature of Bitcoin that may be exploited for money laundering and tax evasion.


As a result, Many authorities (or regulators) around the world are still struggling to establish a regulatory framework for Bitcoin. But, just like any new innovative involving to be used as money, regulations regarding Bitcoin will continue to be written and rewritten.


Read more about the about regulatory Issues: Is Bitcoin Legal? Countries that accept bitcoin in 2019


● Cryptocurrency Market Volatility


The cryptocurrency market is experiencing a peculiar state of price volatility. For example, Bitcoin reached $ 20,000 in December 2017, and it traded at 3,200 in November 2018, while it trades today at $ 3,900.


You could make unprecedented gains if you invest in cryptocurrencies at the right time as well as you could make significant losses if you chose the wrong time or the wrong way. The reasons for cryptocurrency market volatility included a lightly regulated market, investors' feelings like FOMO (Fear of missing out) and panics, marketing propaganda, fake news, and scammers.


● Cryptocurrency Market Manipulation


Insider trading, intrigue, and market manipulation are prevalent activities in the crypto market as it lightly regulated, and even though it doesn't conclusively prove there is plenty of evidence that points to manipulation.


cryptocurrencies often shoot up by dozens of percentages in a few minutes to dramatically fall back to their previous levels the following day, what known as pump and dump scheme. As well as sell walls, accumulating cryptocurrency tokens cheaply ahead of positive news and dark pools and other market manipulation tactics.


All of these morally-questionable schemes make the crypto-market so risky for novice investors who are not familiar with the underlying market mechanics.


● Cryptocurrencies' Adoption


With weak regulation of the cryptocurrency market, it is difficult for major international companies to adopt cryptocurrencies in payment, for example. But this is starting to decrease. The adoption of cryptocurrencies is beginning to emerge even though the market is still growing initially.


Some big companies start accepting bitcoin in purchases, for example, Kentucky has started to accept bitcoin in some areas of the world, and in France, they are selling tobacco for bitcoin as well.


Though there are risks in crypto investment, it’s still an attractive opportunity for investors. If you know the risks and are able to avoid the risks, Then next let’s start to invest in cryptocurrencies.


  Risk-Free Trading with MiTrade


how to invest in bitcoin.jpeg


Traders who choose MiTrade will be pleased to know that they are able to trade without risk through a free demo account. Instead of going directly to live markets directly and putting your funds at risk, you can altogether avoid the risks and simply train until you are ready to move into real trading. 


Take control of your trading experience with MiTrade and open your free demo account today! 


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( Margin FX and CFD trading carries a high level of risk and is not suitable for all investors.  Please read the Risk Disclosure Statement before choosing to start trading. )

8. Cryptocurrency Investment Strategies And Tips


The following are the most important tips you will need during a journey of trading and investment in the crypto world. These tips crafted by several expert traders, some of them paid a high price to learn while others were the epitome of his successful experience and they decided to share their experience.


● Plan a strategy


Many traders are tracking the latest rumors and chasing the tokens that make a surprise “Pump,” or they just follow uncertain advice from others. Sometimes, they get lucky to make some lucrative deals first, but in the long term, they all fail.


Investing in itself requires many things. At first, you need an entry plan, building your expectations of how much will grow, how long it will take to rise, how much risk is, determining the capital you can invest, the time frame for investment,  and finally, the exit plan. These are all the essential questions you should ask yourself before you start investing in the cryptocurrency market.


● Do not put your entire funds in one cryptocurrency


This rule applies to all types of investments, meaning that you have to invest in more than one crypto assets, not only throwing your entire funds in one asset.

 

● Take profit or stop loss timely


It is wrong to trade without using a stop-loss order. That could be like driving without brakes, which ultimately leads to an unintended result. Stop loss is your safety point.


● Conduct your research


It is disappointing that the cryptocurrency market is ruled by rumors, fear, uncertainty, and FOMO (fear of missing the opportunity). Cryptocurrency trading is a psychological game that you need to excel in.


Learning to do your research is an important life skill and can push you forward if you rely on it accurately. It is about developing your skills in criticism and assessment, recognizing patterns, and balancing your emotional opinions with logical reasons. Doing your own research and forming your own beliefs will help you fight the psychological aspects of this game better.

 

● Use logic rather than emotion


It is important to use your logic prominently when you are investing. Cryptocurrency trading involves emotions that affect traders' performance. For instance, some would continue to hold shit-coin even though it has bad news like delisting from the largest exchange and that only because of their hopes were placed on it. While if they didn't take action immediately and sell these assets in time due to irrational attachment they will end up losing all your money.

 

● Learn about common scams


In the previous section, we talked about the seriousness and widespread spread of fraud activities in various forms in the cryptocurrency industry. It is therefore important to understand all crypto-related scams to stay safe!

 

● Learn more constantly


The best way to become a good trader is to know how the market works. As we mentioned earlier, the market is continually changing, so if you want to continue, you should always be ready to learn new things and update yourself on changes in the market.

 

● Track your investment result


It is very important to regularly track the performance of your investments. Analyzing the results and examining the reports to extract more meaningful information is very helpful for better performance next time.


9. Should I Invest In Cryptocurrency?


The experience of investing in cryptocurrencies is one that deserves your trial. But only by being fully aware of all the developments in the cryptocurrency market, you can make plenty of money in a short time.

 

This post has shown you everything about cryptocurrencies to make money. The opportunities through trading cryptocurrencies do not compare with any project on the ground. Many adults and young people around the world have made impressive gains that others will not be able to get in traditional jobs or projects.

 

Start your journey at investing in cryptocurrencies now. A simple step to get started: Sign up with Mitrade App to get a unique trading experience in cryptocurrencies and a welcome bonus. Start now and make some wealth!


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Risk Warning: CFDs are a leveraged product that can result in the loss of your entire capital. Refer to the PDS to learn the risks involved.

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I am a Forex/ cryptocurrency trader with a Master's degree in Financial markets. My expertise covers a wide range of topics, including trading strategies, specific analysis, investment advice, and general finance topics.
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