Does Bitcoin mean anything to you? You may not know it, but a lot of people have become immensely wealthy and are making money from cryptocurrency investing. As a matter of fact, most people who have invested in cryptocurrencies in general have all seen their investment grow rapidly.
Paradoxically, however, there are some specialists who claim that cryptocurrency is a risky investment and they are absolutely right to think so.
On the other hand, what is ignored is that the people who made money with cryptocurrencies simply applied an effective investment strategy.
But what is the secret to a successful investment in cryptocurrency? Well, this is precisely what we suggest you discover through this article.
What cryptocurrency should you invest in?
Nowadays, the cryptocurrencies put into circulation on the market number in the thousands. And the worst of it is that there is probably only a handful that can be considered “reliable”.
You would have understood it, it is therefore increasingly difficult to choose the most profitable new virtual currency of all. If this is your first investment, we recommend that you always focus on the most popular cryptocurrencies. Among the most famous, there is obviously Bitcoin.
It is also the first cryptocurrency that was created. Its market capitalization is already over $ 150 billion and the average price of a Bitcoin is estimated to be over $ 7,500.. Suffice to say that it is the most stable virtual currency that exists so far.
Otherwise, in second place in the ranking of the best cryptocurrencies, you also have Ethereum. Created in 2015, this cryptocurrency has a market capitalization of more than $ 20 billion. You probably didn’t know it, but there are already more than 110 million Ethereum tokens (unit) put into circulation on the market.
Finally, in 3rd place on the podium, there is the Ripple which is represented by the symbol “XRP”. Ripple is one of the most accessible cryptocurrencies of all since its average price is estimated at only $ 0.19.
Also note that more than 43 million Ripple tokens have already been put into circulation since the creation in 2012.
|Cryptocurrencies||Bitcoin (BTC)||Ethereum (ETH)||Ripple (XRP)|
|Capitalization (USD)||over 140 billion||over 22 billion||over 9 billion|
|Average price (USD)||+ 7,500||+ 130||+ 0.19|
|Number of tokens||+ 18 million||+ 110 million||+ 40 million|
|Annual growth rate||+ 156%||+ 89%||– 9%|
Tips and tricks for investing well in cryptocurrency
People who are successful in making money investing in cryptocurrencies are usually those with a definite investment strategy.
Here are some valuable tips that can guide you down this path:
Learn to master the cryptocurrency market
Know already that no one can improvise as a “cryptocurrency investor”.
To be sure that your investment is successful, you will need to learn the basic functioning of cryptocurrency (the language, the market, the prices, etc.).
To succeed, you will first have to start by understanding how the Blockchain works because, let us remember, it is the system that governs all existing cryptocurrencies. The more you learn, the more you will be able to grasp the realities of the market.
You will learn, for example, that the more valuable a cryptocurrency, the less chance it will have to progress later. You will also learn that the rarer a cryptocurrency is in the market, the more its value will increase.
So think about doing enough documentation so that you have complete control over the cryptocurrency market.
Check the reliability of your cryptocurrencies
Keep in mind that all cryptocurrencies that are offered on the internet are not necessarily reliable and profitable.
There are cryptocurrencies that can be highly publicized and touted on social media, but which in the end are pure scams.
If you don’t want to get ripped off, we therefore recommend that you always check whether the reliability of your cryptocurrency website. Make sure that it is not on the AMF (Autorité des Marchés Financiers) blacklist.
Normally, the most reliable cryptocurrencies are those that have a clear and precise project presentation and roadmap. If in doubt, do not hesitate to seek advice from a qualified professional.
Buy your cryptocurrencies in the right places!
For those who don’t know yet, there are 2 different ways to invest in cryptocurrency. You can buy your cryptocurrencies either from an individual or on an exchange platform or from a broker (broker).
The advantage of buying your cryptocurrencies from a trusted broker is that you can benefit from a much better price.
Going through a broker is also a much more secure alternative since you no longer have to worry about the storage of your cryptocurrencies.
Apart from that, most brokers provide you with “leverage effects” which allow you to boost your investment if you don’t have a lot of money to invest.
However, this technique must be used with the utmost vigilance because it can also make you lose a lot of money.
Be careful when investing
If this is your first time investing in cryptocurrency, you should consider all the risks. Do not forget that the virtual currency market is still a very volatile market.
The values of different currencies can decrease or increase rapidly in a very considerable way. The best method to minimize the risk of losing money is therefore to set up a well-defined investment strategy..
If we have any advice for you, it’s not to invest all your money in cryptocurrencies. Better to invest prudently, only betting small amounts that you are willing to lose.
Keep in mind that the more you increase your investment, the more you risk losing money.. If you are serious about investing a lot of money, hire a qualified professional for advice.