Every day we hear reports on various news platforms about this or that regarding cryptocurrencies and with the recent market correction the market has been in a state of turmoil. Some, like ABC News, as you can see in the video below, reported that there is a possible bubble in market prices months ago. If you want some extra You can learn tips to earn money by toptips4u.com.
Don't buy just because the price is low
Most beginners make a common mistake: buying a coin because its price seems low or what they consider affordable. Take, for example, someone who opts for Ripple over Ethereum simply because the latter is so much cheaper.
The decision to invest in a currency should have very little to do with its affordability, but a lot to do with its market capitalization.
Just like conventional stocks are measured by their market limits, which are evaluated using the formula Current Market Price X Total Number of Shares Outstanding, the same applies to cryptocurrencies. There are a lot of tips to earn money.
- A tip on crowdselling / ICOs
During an ICO (Initial Coin Offering), startups offer the general public an early opportunity to invest in their idea through a sell-off. In return, these investors are assigned tokens at a lower price with the promise of selling them at a much higher price when they are listed on an exchange.
Time has shown that ICOs can be quite successful with registrations showing that some tokens ended up at more than ten times the value of projected returns.
- But, what is the trick of this, you ask ...
ICOs have attracted a large number of investors clearly due to their high returns; However, another large number of ICOs have turned out to be outright scams. People have lost investments worth millions. Every day something new for you by toptips4u.com.
- A quick one for Altcoin investors
Many Altcoins end up losing value over a certain period of time, sometimes in an unusually short period of time. Therefore, it is paramount to understand that whenever you have an alt currency for the long term, be careful not to hold it too long.
One of the best measures of currencies that are perfect for long-term investments is daily trading volumes. The higher the daily trading volume, the more suitable an asset is for long-term investments.
Tips to earn money: If you are thinking about investing long-term with cryptocurrencies, consider investing in some of the following currencies: Ethereum (ETH), Factor (FCT), Monero (XRM), and Dash. These have decent trading volumes on various exchanges around the world.
- Diversify, diversify and diversify!
Investments are unpredictable; Even those that seem to offer infinite positive returns can collapse under certain economic conditions. Cryptocurrencies are even more unpredictable.
Tips to earn money: As much as you can make a profit in the thousands in a day or less, the reverse is also true. You can lose everything you invest in digital assets in an instant. Therefore, the best way to overcome these uncertainties is through diversification.
As I mentioned earlier, the value of all other currencies is affected by the value of Bitcoin against the USD. When BTC loses value against the dollar, all other currencies lose value and vice versa. From that, you can clearly see that diversifying your portfolio across multiple currencies may not be enough to hedge against bull markets.
- Super tip!
Tips to earn money: This last tip will offer you practical steps to immediately start implementing in your operations.
Use the goal setting feature by placing sales orders - Make sure you set your revenue goals by placing sales orders in the order books. You never know when your order price will hit, allowing you to get exactly what you need. Also, sell orders attract less transaction fees as they are the makers of the market.
Tips to earn money: Take it easy while trading - They say the best traders master the art of staying calm even when things seem out of control. Yes, I know how crazy that sounds, but you have to develop the ability not to trade emotionally, but objectively.
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