Cryptocurrency has seen growth in the last few years. It provinces with a better chance of getting stronger returns. Though it did not get the possible Government backing, yet it went on to gain massive popularity.
Like all others we think you too are highly interested in Crypto. So why not start investing in it? Bank on Immediate Edge, one of most trusted and safest Crypto trading exchanges.
This article is meant for novices like you, that will touch on the 5 easiest ways to begin Investment In Cryptocurrency.
Facts And Data On Cryptocurrency
- Why Invest in Cryptocurrency?
- What’s the need?
There are certain facts and data that will establish the need to invest in Cryptocurrency.
- The price of Bitcoin has increased to around 66% in February 2021.In the month of January, the rate of the digital asset was just around $30000.
Remember, that the quarterly increase of Cryptocurrency was just $10000 in the first quarter. So, did you understand the growth? A massive 400%, would you believe it?
- Tether went on to become the biggest Cryptocurrency by February 22nd. While Bitcoin touched on the value of $56billion, Tether went on to touch$108.77 billion!
- Ethereum received around 1 Million daily transactions in the year 2020.This is a big leap.
- The first 10 Cryptocurrencies with the highest market cap make upto around 88% of the Total Cryptocurrency value in Market.
- It is a hard fact to believe but the number of Bitcoin ATMS as of January was around 14,915 and that’s a massive-massive influence.
Easiest Ways To Invest In Cryptocurrency
If you are a novice, and you are thinking of investing in Cryptocurrency, this is the time for you now. So there are certain ways to invest in cryptocurrency. And they are super easy.
1. Selecting A Crypto Exchange
You must know that Cryptocurrency is traded in exchanges. There are crypto exchanges but you must not go anywhere and everywhere.
When you are extremely young make use of exchanges like Biance, Coinbase, eToro and Gemini. They are extremely reliable. There you can buy and sell Cryptocurrency at a varied fee structure. You will be able to buy Crypto using Fiat there.
Other than this you could also exchange Crypto for Crypto. One thing you need to keep in mind, Crypto brokers may not allow you to transfer funds off the platform.
2. Create And Verify Your Account
Now that you have chosen your Crypto exchange or broker of your choice, sign up for your account. Verify your identity before you proceed further.
This is one of the must do things that you need to keep in mind. This falls under the jurisdiction where your exchange is operating.
3. Deposit Funds
Want to purchase cryptocurrency?
You must first ensure that you have adequate funds in your account. Keep in mind that Credit cards are extremely costly affairs.
Wait for a few days prior to utilising your deposit.
4. Understand What You Are Investing In
You are a novice, so understand what you are investing in. Read the documents like Prospectus and try to analyse the companies thoroughly.
A thorough reading will provide a better idea on what you are actually investing in. There are many types of Cryptocurrencies. Each one of them has some definite features.
Therefore you are advised to read the prospectus of the ones you are investing. Some of the most popular cryptocurrency include Ethereum, Dogecoin, Cardano. Try to get a thorough understanding of the potential upside down.
5. Manage Your risk
Remember, you are a new trader, you need to understand risk management. You need to form a thorough idea on how to manage risk and uncertainty.
And while you are investing , you must target to play on the market for a long time. If you grow and develop a long term mentality, it allows the investor to stick with a position.
One more thing, a new trader needs to consider setting aside a certain amount of trading money. Use portio of it.
Do not be in a hurry and invest to invest all at a time and reap benefits. So keep some reserved.
That you are investing in Cryptocurrency, you need to be careful on certain things. Remember that you are new to this investment platform.
You therefore need to conduct extensive study and observe every nitty-gritty to get a better idea.