Crypto Money – For Beginners – The crypto money market, which is quite new to the name of the financial market, is actually being watched carefully by all people who are interested in the economy. However, when it comes to the initiative or investment, they can be quite reluctant.
The main reason for this abstention, which is quite normal, is that people who are interested in economics do not know where to start. As such, in this article, we will give our readers tips about crypto money trading and investment related to this market. Should I Invest in Crypto Money?
Today, the newly emerging crypto money market is seen as one of the most profitable investment tools. A number of reasons for this are as follows:
- The depreciation of traditional coins has encouraged many investors to enter the crypto money market. The crypto money market, which is seen as an alternative, made its investors smile a lot especially in the last quarter of 2017.
- It is described as outstanding by the technologists behind cryptocurrencies. Considering that we are in the age of technology, the crypto money market is very attractive. One of the biggest features of crypto coins is that you can still use them wherever you are in the world.
- Bitcoin’s performance has again attracted a lot of attention from experts. 10 years ago, the value of 1 Bitcoin was not even $ 1, but in the last quarter of 2017, it saw $ 20,000. Today, the value is $7,500. Bitcoin’s incredible increase in value has made it an indispensable investment tool, and there has not been a single problem among the millions of Bitcoin-related transfers. This is an incredible amount of performance and stability.
Crypto Money – Does It Have Risks for Beginners?
The cryptocurrency market is subject to ballooning accusations by some experts. For those who do not know, the balloon accusation is claimed to be many times higher than the value of digital currencies in the crypto money market. They think that there is no power behind cryptocurrencies and that this rise is a scam.
Another point you need to know is the Volatility of the crypto money market.
Volatility is a term used in relation to the ups and downs of the market, that is, the mobility of the market. In the crypto money market, the volatility we mentioned is quite high. This means that if you have an investment of 10,000 pounds in the crypto money market when you go to bed at night, this money can fall to 3,000 pounds when you wake up in the morning. It can rise at the same rate.
However, this situation shows that the market is quite risky. This mobility (Volatility) can give you a lot and at the same time lose a lot. However, if you enter the market with a money that will not force you and that you will not care if you lose, you will be quite comfortable. Then you don’t lose sleep when you go to bed at night. Cryptocurrency- Which Cryptocurrency to Invest in for Beginners?
This is a rather difficult question, and it would be absolutely inaccurate for us to say anything definite. Let’s talk about the features that should be in crypto money, in this context, do your research and decide which crypto currency to invest in.
- Before investing in cryptocurrency, research in which countries it is accepted as a currency and whether it is legal.
- The issue of portability in cryptocurrencies is very important. Research whether cryptocurrency can be easily moved from one place to another. If the currency is easily portable, that’s a plus point.
- The best of cryptocurrency is the safe one. Thoroughly research the security of the cryptocurrency you are going to invest in.
After Bitcoin hit the market and performed positively, hundreds of different cryptocurrencies were launched.
Let’s take a look at the highlights among these cryptocurrencies that have been released.
- Bitcoin: Bitcoin is already the forerunner of cryptocurrencies and is the highest volume cryptocurrency in the market. Its steady rise and acceptance in most countries make it a reliable cryptocurrency.
- Ethereum: The nickname of the Ethereum cryptocurrency is “Bitcoin Vol2”. Ethereum, the second coin with the highest market cap after Bitcoin, has easily stood out among the hundreds of coins we have mentioned.
- Litecoin: Described as the main Hedge of the crypto market, Litecoin is another cryptocurrency that, along with its steady rise, makes it trustworthy.
How Can I Invest in Cryptocurrency?
First of all, you should thoroughly research the crypto money market and decide on the coin or coins you will invest in. There are thousands of cryptocurrencies on the market, and it’s vital which one you invest in.
Determine an amount that you can dispose of for investing in cryptocurrency. Then draw yourself a plan and targeting paths. Do not rush to buy the cryptocurrency you have decided to invest. Keep track of prices and look to invest at the lowest possible level. If you hurry up and invest early, you may be on the sad side. The most important point is that we have given information about this subject above.
Never, ever step into this market with a currency that is important to you. Enter the market with an amount that you can discard, that you will not care much even if you lose. You are very sure that the crypto money you will receive will definitely rise, do not sell your house or take out a loan from the bank and enter this business. Eventually, you may get very upset and find yourself on a dead end. Cryptocurrency Storage with E-wallet
Another thing you need to do is to get an e-wallet. You will need an e-wallet to store the crypto coins you will receive. Various e-wallets are available for the cryptocurrency you are going to receive. Research this topic separately.
Then log in to a crypto exchange to buy the cryptocurrency. Follow the prices there and buy the crypto money in your head. As famous crypto money exchanges in Turkey, there are exchanges such as BTCTurk, Paribu, Koineks. You can make purchases on these exchanges. If you want to buy on foreign exchanges, Binance and Bitfinex are quite famous. You can also make your purchases from here.
As the last part of the job, you need to move the crypto money you will receive to your offline wallet. We do not recommend that you leave your coins on crypto money exchanges. If you wish, do a search online before the offline wallet. Don’t make any attempt without knowing what’s what.