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How to Invest in Cryptocurrency

by The Daily Buzz Team
in Business, World
3 min read
How to Invest in Cryptocurrency

Cryptocurrency has been going through it’s most turbulent period so far this year, with prices of pioneering coins Ethereum and Bitcoin suffering huge dips in recent weeks.

Trading platforms have seen a surge in the volume of trades during this period, as crypto users try to make the most of the low prices while they last.

Newcomers can find the best platforms for trading by doing their research using a number of crypto comparison sites for example.

User experiences offer a wealth of information with customers offering personal experiences; look at Kraken reviews or feedback from the Binance community, as examples of some of the most popular trading platforms.

The recent dip in the market comes after the latest wave of speculation regarding the regulatory standards of cryptocurrencies.

China, which is the leading country for crypto-mining, has followed the recent actions of India and Turkey, attempting to try and block access to cryptocurrencies.

While this is something that the government sees as the right move, it isn’t an opinion shared by the public.

This isn’t the first time we’ve seen this kind of move and it undoubtedly won’t be the last.

With companies like BNL Mellon and VISA fully invested in the crypto craze, we look to the future of investment and how to make the most of this opportunity to pick up coins at a very low price.

Below we’ll explore some of the principles of investing and how to read the ever-changing cryptocurrency landscape today.

How to Invest in Cryptocurrency

 Many industry pundits and experts believe the coming years will determine the true value of cryptocurrency and how it will shape the future of investments.

One thing we’re seeing a lot of is the use of blockchain to underpin new and existing technology, notably using the Ethereum blockchain.

Investing in cryptocurrency goes beyond simply choosing one of the big coins and watching the price.

There are many projects using the Ether blockchain that are very interesting. As is always the case with investments, choosing the right project to back is key.

The volatility of the market is something that scares off many potential investors. But, volatility can benefit the investor in equal measures.

Judging the market and doing your homework is crucial. Cryptocurrency skeptics often try to highlight volatility as a bug within trading. But, it simply isn’t that at all, it’s a feature of the market.

Many point to the Elon Musk tweets as an example of the unstable market, but Bitcoin Ethereum and other cryptocurrencies are bigger than the Tesla CEO.

We are still seeing the high volatility we did some years ago, but with investment companies and blockchain technologies on the rise, this will soon be a thing of the past.

Designing an ecosystem around cryptocurrency is the solution to the huge swings in market price. It’s important to distinguish between the technology and the individual currencies while being mindful of valuation. It’s not the be-all and end-all.

Bitcoin and Ethereum are much bigger than the market price. While the price may go up and down, it always levels out—which we’ve seen time and time again.

One of the things we regularly see is newcomers backing coins that are à la mode, the likes of Dogecoin and Shiba Inu are a quick way to lose money—though a case can be made for the opposite outcome, it’s too big a risk if you’re looking to make a solid investment.

Closing Thoughts

 Whatever your choice of coin maybe, look at the stability of the coin in the past. Check the project of the coin. Why does it exist? What is the purpose of the project?

These are the kinds of questions new investors must investigate.

Cryptocurrency is the hype right now in fintech and as it becomes more mainstream, there are many traps out there. Be aware of what you’re doing and ensure your research is valid.

The Daily Buzz Team

The Daily Buzz Team

The Daily Buzz combines the pursuit of interesting and intriguing facts with the innate human desire to rank and list things. From stereotypical cat pictures to crazy facts about the universe, every thing is designed to help you kill time in the most efficient manner, all while giving you something to either laugh at or think about!

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