A Beginners Guide to Cryptocurrency Investing

[EasyMoney]

Why invest into coins?

Investing into different forms of digital currency has become a massive fad (for this forum at least) in the past few years. The primary theme and reasoning behind why one should invest into different alt-coins is the fact that it is a great way to make money. Everyone here is browsing this sub-forum with the desire to garner a profit margin from their investment. In addition to this, investors should recognize that these forms of cryptocurrencies maintain different variables of privacy and have become the most private payment method internationally. Using these digital currencies does not lead to any taxing on the payments sent or received, it is free to open an account, there are low transaction fees, and the personal identification of the sender is the least important facet of discussion for the transactions.

Making some side money will be extremely easy due to the amount of credible sources that are around to assist individuals with investment advise. It should be noted, though, that you should not solely rely on these sources and just purchase coins afterwards. Please take the time to research these coins themselves and gather any form of information on the dynamics and technological aspect of the currency as well. Learning the market is one of the easiest things, to be honest. Every couple of months there tends to be a significant drop in the valuation of all major coins (BTC, ETH, etc.). Many new investors feel that it is becoming too risky and they unload all of their holdings; ironically, this is the period to buy more holdings (generally speaking). The market is very easy to learn and allows investing to be a very easy process.

How much should you invest?

Investing has become a very prevalent aspect of the forum community; with that happening, a decent amount of members have been bragging about their earnings that they have made. Some users recommend that new investors take a loan from the bank to have some money to play with in their investments. DO NOT TAKE OUT A LOAN. It is important that you only invest money that you are willing to lose.

Once the money is invested into the market, try to set a goal for yourself. For example, let’s say that I purchased 10 Bitcoin when it was worth $1 each. As a way to force myself to hold the coin, I can tell myself that I will not sell the 10 coins until I have made a 500% return on my initial investment. This may seem like a massive leap in valuation; however, a lot of the newer coins will shoot up in value in a weeks time. Always set a goal prior to selling the coin; it will eliminate the habit of unloading all of the holdings when the market seems to be suffering from a deficit.

I have already slightly mentioned this before but I find it extremely important that it is mentioned again. Do not panic sell on every drop in valuation. If you cannot ride out the wave and hold your investments through positives and negatives, I would not recommend investing into digital currencies.

Who SHOULDN'T invest?

There are a couple of different variations of people who definitely should not be investing into crypto’s. If you consider yourself any of the following, I would highly recommend AGAINST putting your money into altcoins:

• Impatient People - Someone who wants to make a ton of money overnight and/or cannot handle a loss of value should NOT be investing.
• Scared of losing money - Nobody WANTS to lose money; however, you should be prepared for it to happen. Not all investments will bring profit.
• Followers - If you cannot think for yourself/do your own research, investing isn't for you.
• Profit expectation - You cannot EXPECT to make money off of all of the investments you make. You are bound to lose money; it should be noted, though, that the wins should outweigh the losses.