Cryptocurrencies are more volatile than other assets.
The importance of having a good guide before investing.
At present, BTC has emerged as the main cryptocurrency in the market and its long-term sustained upward trend has ratified the expectations of its creators, investors and enthusiasts. Therefore, investment in crypto assets can no longer be considered as a highway to make money fast and easy, on the contrary, it is generally considered as a solid and reliable market in the long term.
Hence, there are 5 things you should know before investing in BTC and in MercaryCash we are going to present them to you:
Know the market
Whatever the business you are going invest, you must know the best the market till point you know its trends, projections, volatility and cycles, where you can win and lose. Nevertheless, Bear in mind no matter how much you learn, you should be guided from full trustable and confidence people with a trajectory that can mentoring you. It is necessary that you have clear the levels of market risk and expected profit margins according to the money you are willing to invest. You can invest in mining, or in daily or future trading, or simply invest in Cryptos as goods (Assets) that you will keep as a value over time. If you are going to venture into mining you should know the costs, technologies, risks, awards, government regulations and, very important issue: the 2020 halving . If you plan to invest in trading, you should know how to read market behavior to make entry and exit decisions.
Have a plan
Markets can become a roller coaster because you may not know when to stop, go out or buy; Losing is a real option, remember that there are people with a lot of experience competing in this market. On the other hand, you must be clear about what type of investment opportunity you are interested in. The main thing is to have a plan with clear objectives of profit and loss every time you decide to enter, a low cap is recommended for losses and profit margins set from which you will start selling gradually.
What exchange platform to use
The exchanges are digital platforms that allow you to buy and sell Bitcoins and other cryptocurrencies using other cryptocurrencies or international currencies such as Dollar, Euro, etc. Among the most recognized are Coinbase, Bitfinex, Liquid, Binance, Bitstamp and some others. Although all offer quite reliable services, some important characteristics must be evaluated prior choosing the most convenient one:
- Exchange types, whether for the use of brokers (Coinbase type), the traditional with traders (Kraken, Bitfinex and Poloniex type) or P2P (peer to peer) as localbitcoin.
- Payment of commissions charged for each service and payment methods used. For example, when depositing money in your wallet, plus the costs for currency exchange (from Euro to BTC for example), for each transaction or withdrawal of balance. The use of platforms such as Paypal, credit and debit cards, transfers, etc. also implies additional costs.
- Cryptocurrencies available: Even though BTC is the most important of the cryptocurrencies currently, there are some Altcoin such as Dash, Basic Attention Token (BAT) and Ethereum (ETH) well recommended by experts. It is always advisable to have a diversified investment portfolio.
- Security: each exchange offers liquidity and support showing their holding capital in cryptocurrencies valued at millions of USD. Their security policies must be clear and constantly updated, which also means keeping most of your funds in offline deposits to protect them from illegal interference and attacks via internet.
How to keep safe your Bitcoins
The main thing is to create your wallet and keep your keywords and data well protected from other people, not to save information on your computer or cell phone. On the other hand, if you put your money in an exchange house, at the end of the planned operations withdraw most of your money from the exchange and keep it with you.
One of the safest and recommended ways to dispose of your cryptocurrencies is the so-called cold wallets, where through external devices (hardware) you can save your money and your keywords offline to avoid attempts to steal via web. The two most used and recommended devices are the Ledger One and the Trezor One, both hardwares are easily available on the internet for purchase and their prices are close to $ 100 the cheapest. If you consider that this price is not worth it, keep in mind the valuation of your assets, after all, it is an investment for your safety.
Why Mercury Cash
MC goes beyond being a currency exchange where you can invest your money. We are a platform that offers intelligent, modern and appropriate solutions to your growth and investment needs, designed to provide support for your commercial and personal projects with reliable and available payment systems at any time.
Create your individual or business accounts with us, open your wallet and enjoy payment services and money transfers to third parties, family and companies with just an email, whether in Dash, BTC or Ethereum.
Stay informed of cryptocurrency market prices and receive in real time the states of your movements.
Finally, we are a company with 4 years in the business with more than +14,000 clients, enjoying a prestige thanks to our services, discretion and security of information and operations generated.
What do you think about this topic? Thinking about investing in bitcoin?
If you want more information, you can contact us or write your question at the bottom (comments section).
Image by MichaelWuensch via pixabay.com under a creative commons license.