NOT TOMORROW, GET INVOLVED IN CRYPTO TODAY!
You want to invest in cryptocurrencies like Bitcoin and Ethereum? Follow my step by step guide and you can be involved in one of the fastest growing industries of all time. The opportunity to gain wealth through cryptocurrency investments is real. My step by step guide will show you exactly what actions you need to take and what you should be wary of as a new investor
Why is now the right time for a Cryptocurrency investment?
Why do you need to own a Cryptocurrency?
Which Cryptocurrency should you buy?
Where can you buy Cryptocurrencies?
Every great technological innovation has also come with great financial gains to those that invested wisely. People that chose to invest in the providers of technology in the 1960’s were empowered with financial stability and ever closer to financial independence as television and radio technology advanced. The providers of technology that could be purchased by the public, firms like IBM, Microsoft, & General Electric are still household names today.
A small investment in any of those firms at the time of their inception, the period when they put out their greatest innovations of the time, has saturated those investors in unbelievable gains. A small investment would have returned to you some multiple of one thousand easily.
Investments in the innovations and innovators of smartphones have all seen tremendous growth since their inception.
When the internet was made available to the masses. A small investment in Yahoo was like winning the lottery.
I use those scenarios as examples to help you visualize the opportunity that investments in cryptocurrency offer you NOW. The blockchain is here to stay. We can easily see that sitting on the sidelines and not investing when technological wonders are introduced to the public is a MISTAKE!
In order to own a cryptocurrency of any kind you must own a device to store them. That device is called a “Wallet.” You cannot be involved in cryptocurrency without one. Hardware wallets are highly recommended, it is a stand alone portable media storage device. Hardware wallets are the safest method of storing your cryptocurrencies. Whether you’re an institutional investor or just a hard worker trying to get ahead A cryptocurrency wallet is a necessity for this type of investment.
A cryptocurrency wallet is a media storage device unique to its owner, electronic, and encryptable. Cryptocurrencies are stored either in a hardware wallet, on a cryptocurrency exchange, or in a software wallet on the internet sometimes called a hot wallet.
Storing cryptocurrency on a cryptocurrency exchange exposes the cryptocurrency owner (YOU) to the dangers of hacks. Hacks have occurred and large amounts of cryptocurrency have gone missing from other investors. Therefore it’s naive to think that you cannot be one of the next victims . If your account is hacked the loss may be irrecoverable. We strongly recommend you transfer your cryptocurrency coins and the proceeds you receive from their sale to your personal and secure hardware wallet. This action should be done after completing a purchase or sale on a cryptocurrency exchange.
Hot wallets are connected to the internet through browser software and therefore not 100% secure. A good example would be comparing a hot wallet to a man’s wallet carried in the pocket. The man’s wallet being with him in public allows him to make simple purchases. Whenever the man is in the public, even though his wallet is safely tucked away in his pocket, there are pickpockets and thieves everywhere trying to find a way to separate him from his wealth.
ERC20 compatible multi currency wallet are recommended because of their versatility.
TREZOR and KeepKey hardware wallets maintain outstanding reviews. All the reports on these two producers of cryptocurrency wallets are great. They are two of the dominant manufacturers of these devices in the industry.
Ledger is also a leading manufacturer of hardware wallets. The Ledger Nano S is a popular brand and model. Having overcome a potential breach of it’s security, this model and manufacturer are even stronger now.
Obtaining a wallet and backup wallet is essential. Click the links and get yours ….we’ll be right here when you’re done to take you the rest of the way.
Which Cryptocurrency should You buy?
We need to stop here for a minute. Some sovereign nations do not allow their citizens to own or transact in particular cryptocurrencies. Some nations do not allow their citizens to be involved in cryptocurrencies at any level. Please perform your own due diligence and be aware of the laws that apply to you.
I found a listing of 4,836 cryptocurrencies that can be bought and sold. Everyday since I found that listing, I have read announcements of more cryptocurrencies being created. That many investment options requires reliable information about which cryptocurrencies are the most valuable.
Of those 4,836 cryptocurrencies I found, the top 30 had market capitalization valued from $500,000,000 to Bitcoin’s jaw dropping approximate $110,000,000,000. We will focus on the top 15 cryptocurrencies at the time of my writing. That group of cryptos have a market capitalization ranging from 2,000,000,000 to Bitcoin’s approximate $110,000,000,000 value.
As you educate yourself further about cryptocurrency, speculative investments on the cryptocurrencies with a lower market cap can be considered.
Let’s narrow down the list to the top 10 cryptocurrencies. I can’t directly tell you or advise you as to what cryptocurrency to buy or how much to invest. What I can do is give you some very helpful guidelines. $10,000 US dollars is considered to be an amount of money that can be considered a standard for financial investments. It’s also a great number to use in order to demonstrate yields, percent of change, and growth rates, the number 10,000 or multiple thereof works very well with the math involved in estimating gains and limiting losses in the financial world.
The cryptocurrency market has displayed a volatile behavior in both directions positive and negative. Added to this, the new ability to sell some of these financial instruments short results in a multitude of strategy combinations. Here is a simple and effective way to begin your investment strategy in cryptocurrency.
Consider this, With $10,000 you may only be able to buy 1 complete bitcoin. Or you may only be able to buy 10 – 20 complete Ethereum coins. If Bitcoin gains $100 in value, you will have gained only $100 for an investment that could cost as much as $5,000 – $10,000 or more plus the associated fees. That’s a 1% or 2% return on your substantial investment. If Ethereum gains $100 in value, and it has, you could potentially gain $1,000 – $2,000 and more for an investment that cost you about $10,000 with its associated fees. That’s a return of 10% – 20% on your investment. I’m using this simple analogy to demonstrate that owning more coins allows you to better capitalize on large swings in price that are in your favor.
Lucky for us cryptocurrency can be bought and sold in increments out to the 10th place after the decimal point and even further. This allows you the ability to spread your $10,000 evenly through the top 10 cryptocurrencies. An allocation $1000 to each cryptocurrency in the top 10, has the potential of creating a portfolio of cryptocurrency that will be balanced enough to receive the full potential of optimal gains from their movements.
Where do You Buy Cryptocurrencies?
Cryptocurrencies are bought and sold on cryptocurrency exchanges, much like corporate stocks are bought and sold on stock exchanges. The most popular cryptocurrency exchanges are:
LocalBitcoins (peer to peer)
Wall of Coins (peer to peer)
Coinbase has one of the friendliest user interfaces and is available to citizens of most nations. The peer to peer exchanges operate at higher fees and offer you more anonymity regarding transactions. Privacy comes with a price. Opening up an account is straightforward, a bit time consuming, but a necessary step when investing in cryptocurrencies.
You have now enabled yourself to participate in the cryptocurrency market. The best time to get involved is immediately. Anyone that tells you they bought into a market at the bottom and made a great sale at the top is usually a poker faced liar. Most professionals will admit they’ve missed the bottom and top of trading markets, even though they did make successful trades. One thing is for sure you can’t gain anything until you get involved. Cryptocurrencies should be treated as venture capital investments, High risk of capital with the potential of phenomenal returns. Protect your potential gains and limit your potential losses accordingly.
Copyright Disclaimer: Information provided by 21stmoney.com is protected under copyright law. Any republication or misuse of this information will be considered a violation of that copyright and violators will be prosecuted to the full extent of the law.
Risk Disclaimer: None of the information provided by 21stmoney.com constitutes an investment recommendation or investment advice. Any data or content provided by 21stmoney.com should not be relied upon for any investment activities. All trades, ideas, forecasts, charts, etc., on 21stmoney.com and in the articles and content of 21stmoney.com that appear on other affiliates and websites, are for illustrative purposes only and not to be interpreted as specific advisory recommendations. 21stmoney.com strongly recommends that you perform your own independent research. Investing and/or trading carry substantial risk of loss that may or may not be appropriate for your individual financial risk tolerance. We recommend you speak to a qualified investment professional before making any financial decisions. In some instances 21stmoney.com may receive compensation for providing 3rd party offers to visitors or registrants.