What are the best ways to pursue crypto investment? Some people think that cryptocurrency will fail, and crypto exchange platforms are not secured.
They also believe that you can lose an enormous measure of money on the off chance that you expect to contribute.
However, if you sit and consider the most recent developments in the crypto world within the past couple of years, you will be able to recognize its strong potential.
It is not very difficult to make the best of the off chance and achieve your investment goals in cryptocurrency if only you know the right way to invest your resources in it and pursue them.
And, each of these stages comes with their characteristic upsides and downsides.
However, before diving into the different ways in which you can pursue your cryptocurrency investment ideas, you should know a little bit about the fundamentals and workings of this digital token.
Cryptocurrency is now accepted by several merchants and retail outlets as a form of payment in exchange for goods and services.
This digital currency functions with the help of blockchain technology that ensures a high level of security.
There are several different active crypto coins available out there other than Bitcoin.
It is therefore elementary that you should observe a few specific guidelines to pursue your investment idea in order to succeed in your endeavor.
It involves everything right from choosing the most appropriate stage to putting your money into it depending on your needs.
If you are unaware of those particular ways, here is an article to your rescue.
- 29 Best Ways to Pursue Crypto Investment
- 1. Invest When You Can
- 2. Gather Enough Information before Investing
- 3. Look for the Expanding Probability
- 4. Discover Your Platform
- 5. Research Well
- 6. Beware of Fraudulent Acts
- 7. Look for Experienced and Reliable People
- 8. Analyze Capitalization
- 9. Track and Monitor Your Investment
- 10. The Security Aspect
- 11. Focus on the Goals
- 12. Set Your Intentions
- 13. Recognize the Risks Involved
- 14. Time it Well
- 15. Research on Market Characteristics
- 16. Be Prepared for the Ups and Downs
- 17. Fix a Target
- 18. Handle Fear of Missing Out Efficiently
- 19. Familiarize Yourself with the Technology
- 20. Understand Tax Implications
- 21. Look for a Liquid Market
- 22. Do not Let Fear, Uncertainty or Doubt Get in Your Way
- 23. Logic Must Triumph Emotions
- 24. Take a Break
- 25. Understand the Market Dynamics
- 26. Collect the Airdrops as Much as Possible
- 27. Stock Exchange vs. Crypto market
- 28. Things Not to Do
- 29. Select the Best Project
29 Best Ways to Pursue Crypto Investment
Putting your money in cryptocurrency is a sound investment in spite of the fact that there is a lot of conjecture revolving around it among people due to its high volatility.
However, according to the critics and its supporters, this digital form of finance has all the potential to become the currency of the future.
If you are interested in investing in cryptocurrencies, you should get ready to buy them first.
For this, you will need to choose one of the most popular and reliable online platforms to buy and sell cryptocurrencies such as:
Bet you should have an “online wallet” that can be obtained through any registered online platform.
Now, you should follow these guidelines to pursue your investment idea and see the positive results.
1. Invest When You Can
You should not even think about investing in cryptocurrencies till the time you have enough funds at your disposal. There are several good reasons to say so.
First, you may not always make profits in your investments since the prices of crypto coins may vary.
Thus, you will need to wait for some time to generate revenue from your investments, which may be pretty long depending on several influencing factors. Patience is the key to success here.
Therefore, the money invested in crypto coins should be the money that you will not need, even in times of exigencies. And, most importantly, do not invest by borrowing money from others.
Best – wait till the time you are ready to invest, both and mentally, because you should be able to take losses in stride.
2. Gather Enough Information before Investing
The thought of cryptocurrency is modern and joins various points of view that are not known to most people.
Though it is a pivotal idea in various countries, there are many where it has not been able to create any significant effects or acceptance.
So collect adequate data and pieces of information on some crypto exchanging programs before investing your savings.
Focus on a few particular things, for example, the base sum needed to store, security issues, hazard factors, current rates, and the need to get an unmistakable viewpoint on how things exactly cooperate.
3. Look for the Expanding Probability
Assuming you want to invest in crypto, endeavor to find the odds and crypto organizations you need to invest in.
If, despite everything that you invest the sum of your free money in a potential crypto asset, the peril factor is high you should plan on improving the prospects and look for open doors if you would rather not cause a colossal misfortune.
Illuminate yourself with the current pace, price, and potential of all the available and active crypto coins.
If you can invest money through different cryptocurrencies, it will diversify your investment and will certainly protect you from awful conditions.
4. Discover Your Platform
There are various cryptocurrency trading platforms available throughout the globe. These platforms will permit you to trade your Bitcoins with other advanced resources.
However, the major cryptocurrency platforms offer much better features and functionality while others may come with fewer elements.
Still, most of these platforms are quite secure in comparison to the most recent ones that have come up lately.
Nevertheless, when you choose a specific platform you should do so by looking at the different parameters and influencing factors such as the rates as well as the proposals and promises made by the new platforms.
Should you choose to go with a new one, track down the most appropriate platform for you to begin investing or purchasing Bitcoins.
5. Research Well
Some cryptocurrencies are fruitful and very popular and there are fewer security risks in these but not all crypto coins are created equal.
Therefore, you will need to conduct extensive research on the different forms of these digital assets from different sources.
When you research, focus on particular points such as the popularity of the coin and trading volume, the price history and its mission, the mainnet launch, and other current news.
You may follow some of the popular forums, read a few blogs, explore different social media accounts or different platforms and then go ahead with your investment plans.
Newspapers, discord groups, Telegram are also good resources but the best perhaps is Google to gain such information.
However, irrespective of the resource or resources you choose, do make sure that you crosscheck your findings and also evaluate the sources to judge their authenticity as well.
6. Beware of Fraudulent Acts
As you may know, the platform of cryptocurrencies is not controlled or overseen by customary controlling boards of trustees or governing bodies such as the central bank.
Therefore, chances of fraud and unscrupulous actors always exist.
And, the cryptocurrency industry has seen tremendous development in a brief time frame, and the quantity of con artists has likewise expanded.
Make sure that you keep away from any sudden exceptional yield contributions and alluring messages.
Always conduct a twofold check on them and also check each of the URLs available to forestall phishing.
The best way is to stick to notable trades and platforms and use your judgment wherever necessary.
7. Look for Experienced and Reliable People
Since investing in crypto coins involves a certain amount of risks, you should always take help from those people who are experienced in this field and are reliable.
Most of the successful investors and organizations will be happy to help someone who is new to this field.
Consider them as your guide and follow their footsteps to be successful in your venture just like them.
8. Analyze Capitalization
You should not invest in crypto coins based on the unit price and expect to get high returns. Instead, you should find out its potential and margin of growth.
Understanding of market cap is needed to know the specific development. One with a high market capitalization but less development is considered to be more potent than one with a low market cap.
Apart from that, you will also have to be very careful if you want to enter into the crypto market by simply getting interested in a specific ICO.
You should know that ICOs are utilized to know the potential and performance of a coin.
If the value of it falls after the ICO, consider this as a scam and if the value rises significantly you can conclude that chances of any further rise in it are minimal.
9. Track and Monitor Your Investment
You will need to follow the record of how your investment is performing. If you invest your money, there are three things that can happen.
One, you may lose the entire amount of your money. Two, there may be no significant progress in your investment. And three, you may make a handsome profit.
Examine all of these outcomes and dive deep into the reports to gather more meaningful and productive information through a proper data analysis.
There are several mobile apps that will help you in this regard and help you to become a successful crypto investor.
10. The Security Aspect
You should not compromise with the security aspect at any point in time when you invest in crypto.
Since everything is stored digitally on computer systems, chances of hacking are paramount and therefore you should be extra cautious.
Never stock your holdings on the web but instead store them in specific and secure wallets.
Physical storage will always be more secure than web wallets. Do not, at any point, share your private keys with anybody.
Additionally, keep up with the latest issues and take preventive measures accordingly and design your portfolios with respect to the explicit crypto.
11. Focus on the Goals
People, especially the no-coiners, will try to make you believe that cryptocurrency is nothing but a hype and will fail for sure.
Do not listen to them. Instead, do your research and look out for those resources that justify investing in cryptocurrencies.
In fact, most of the major banks and companies have already accepted cryptocurrency as a mode of payment and a lot more are contemplating on the same.
Research shows that the value of the crypto exchanges will rise by more than 50% in 2021 which makes it just the right time and gives you enough good reasons to invest in it.
12. Set Your Intentions
You should follow social media just to gain some information on crypto and not to follow the shortest ways to success as suggested by many because there really aren’t any shortcuts to it.
Moreover, successful investors will seldom have the time to motivate people like you, and those professional consultants who will, will charge you an exorbitant sum of money.
Therefore, the best way is to set your intentions right and invest only when you are sure that you have found the right approach.
13. Recognize the Risks Involved
Apart from the volatility of the crypto market, there are also several other risks involved in a crypto investment that you should be well aware of.
This will help you to make your investment decisions correct accordingly.
Some of the most noteworthy risks are a misrepresentation of facts, security issues, unnoticed price changes, lucrative yet false promises and offers, bugs in the blockchain and more.
Do not invest unless you are confident enough to go ahead with it.
14. Time it Well
Though there is nothing called the perfect time to invest in cryptocurrency, you should at least judge the pace at which the digital currency changes in price.
As you research you will find that February, March and the second half of December are considered to be the best times for putting resources into the crypto market.
This is called Alt time and most people invest in cryptocurrency during these times of the year. One significant reason for it can be the tax implications during these months.
15. Research on Market Characteristics
Before putting your resources into cryptocurrency, you should research to know about the market conditions and their characteristics as well.
This will help you to know about the economic situation as well as the future of the crypto industry.
It will also help you to discover new opportunities to make out the most of its trading volume, price fluctuations, and market cap.
16. Be Prepared for the Ups and Downs
If you want to do well in cryptocurrency, you must have a strong mental health to adapt to any circumstance, favorable or unfavorable. You should have a cool head to handle every situation adeptly.
A major part of your success will typically depend on your abilities, knowledge, and risk tolerance.
You should be patient to move on smoothly in this unstable market which can experience an 80% drop in the value or a 300 to 400 % rise at times.
Therefore, you should not lose your track even once because it will be hard enough for you to get yourself back on track and survive the cutthroat competition.
Most importantly, if you want to make profits fast, this is certainly not your field.
17. Fix a Target
You should be well aware of your goal so that it is easy to achieve by knowing how exactly you should invest in it instead of putting in all your hard-earned money.
While setting your target, consider the fact that there is a possibility of a change in price by as much as 3% in a day.
18. Handle Fear of Missing Out Efficiently
For a beginner, it is quite difficult to handle FOMO or Fear of Missing Out.
You may tend to invest when there is rapid growth, which ideally is a wrong move.
Instead, wait for the price to fall to invest in it, and rest assured that the price will rise again.
19. Familiarize Yourself with the Technology
Know the technology, processes, and tools before you invest in crypto apart from the basics.
To be a better and successful crypto investor, you should also learn from the YouTube videos, read a lot of articles to know the algorithms involved, consensus, and pre-mining.
20. Understand Tax Implications
Proper knowledge about the tax implications, rules, and regulations in addition to the ways of investing in crypto is necessary so that the entire journey is smooth and favorable.
21. Look for a Liquid Market
Liquidity, in cryptocurrency, means the capacity of crypto coins to be changed into cash or some other digital asset.
In a market that lacks liquidity, it is just like a situation where you have a product but there are no buyers for it.
Liquidity is very important in a crypto market so that you get real money in a quick time when you need it the most.
If you have a coin that is not high in demand and also is low in price, you can sell your crypto to meet your prerequisites but it will result in a loss ultimately.
22. Do not Let Fear, Uncertainty or Doubt Get in Your Way
FUD can let you and your investments down significantly forcing you to make your decisions based on emotions.
This means that you will lose on the opportunities to make the most out of the opportunities down the road and achieve your goal.
People may try to spread fear through fake news among unsuspecting investors, especially when the cost of a cryptocurrency is as high as possible.
These baseless messages create uncertainty and result in confusion in the online community.
This is when the FUDsters take advantage and buy a specific crypto coin at a low price.
Therefore, be knowledgeable and prudent to know their ulterior motive and never take any impulsive decision.
23. Logic Must Triumph Emotions
Be more logical rather than emotional when you make deals or successful investments.
If a specific crypto coin you invested in is deleted by the other members or delisted from an exchange, take necessary actions immediately.
Do not consider your emotional attachment to the coin when you see its market failing. This will result in losing all of your money.
24. Take a Break
Too much involvement will allow negativity to crawl in and cause panic.
Since making money from the crypto market takes time, you should not think too much about it.
Instead, let it take its own course of action, and by that time you take a break to refresh yourself.
25. Understand the Market Dynamics
You should be well acquainted with the market dynamics to be a successful investor.
You need to understand the relation between Bitcoins and other Altcoins.
This is important because when the price of Bitcoin increases, that of other coins may remain stable or go down.
When it comes to Bitcoin, it is quite dominant in the crypto market.
The price of it will seldom fall than other Altcoins when the market crashes but its prices will rise gradually.
Knowing these dynamics will help significantly in making your investment in a particular crypto coin.
26. Collect the Airdrops as Much as Possible
When you collect airdrops, you can make money without making any effort.
However, you should stay mindful and alert. Therefore, keep yourself updated by following all the latest news.
The good thing is that airdrops can provide you the required money to start your journey in the crypto world.
27. Stock Exchange vs. Crypto market
You must know the difference between the stock exchange and the crypto market as well.
Crypto can be introduced by a company but holding those coins may not actually provide any dividends even if the company does well.
It all depends on the price of the specific coin. It is only the security tokens that will offer ownership as per the regulating terms to the traders.
28. Things Not to Do
You should not overtrade considering yourself to be a lucky person and hope to make profits on your investments.
Never commit messy errors in a rush. Instead, hang tight for the specific time frame to be successful in this space.
Also, do not over diversify your crypto portfolio though it is advised to put your money in multiple currencies to be safe.
You can manage ten of them but too many of them will become a messy affair, resulting in a loss.
29. Select the Best Project
This is very important. Choose a project that is potentially profitable so that you do not end up on the losing side.
Know the missions and prospects of the project, the core members, the date of the launch of the coin, and when it will be live.
Also, know the specific pros and cons of the coin you choose before you invest.
The value of cryptocurrency has expanded with time and will continue to do so. Keep an eye on the trends to diversify your crypto portfolio.
If you invest in crypto today, it will prove to be a smart move in the future, if you follow the right ways.
I have special interest in crypto and intend to help common people to gain knowledge about the digital asset as well as its potential. Follow Me at Linkedin.