If you want endless possibilities in terms of making money, then the crypto market is where you want to be according to Yuan Pay Team.
However, investing in cryptocurrency is quite a different animal than stocks. The stock market is never going to give you 50X returns in less than six months. Many cryptocurrency investors are already benefiting from this emerging market, and many of them are enjoying six- and even seven-figure returns.
On the other hand, cryptocurrency trading remains a relatively new platform. Even experienced stock investors need to learn the fundamentals of this new market. When you grasp the nuance involved, you can use cryptocurrency to open doors to thousands of dollars, if not more!
The first thing that you should do is to get your Gap Analysis strategy session, which you can do free with one of our team experts. This is a conversation that can help you comprehend your financial foundation and how to come up with a personalized investment plan that reflects your goals. Then, use the following tips to get going in this brave new future of investing possibilities:
Table of Contents
1) Ladder Into The Market Slowly:
You’ve heard a million times that timing is everything. This old truth still holds true for a new thing like investing in cryptocurrency. Make the most of your returns by entering this market at the right time, just as you would with stocks.
Bitcoin prices took a hit in 2018, and investors got walloped. Well, the ones that weren’t minding the warning signs anyway. Bitcoin was in the middle of a death cross, and that usually starts a bear market. What is a death cross? It’s when the 50-day moving average goes across the 200-day moving average while on the downside.
You should instead look for a golden cross, which is when that same 50-day average goes across the 200-day average while on the upside. Trading professionals in the stock market typically short their stocks when a death cross is happening but then long stocks while there’s a golden cross.
So, when’s the best time to get into a crypto market? No particular date stands out, and golden crosses are hard to predict. It’s better to just ladder in slowly into the market during the initial dip after a cross.
2) Use Staking Rewards:
The crypto market is more than just bitcoin. There are many coins, and quite a few of them are buzzworthy. Given all that, how do you pick a winner? There’s some good news: it’s tough to choose a loser when there’s a bull market going on.
One effective tactic you can use to make the most of your returns is to invest specifically in a coin offering staking rewards. Lots of startups have monthly bonuses that they offer investors just for holding onto those kinds of coins. Investing into these means you can monthly rewards just for buying particular coins and then holding onto them. Consider applying those bonuses immediately back into more investments of the same kind in order to accelerate your accumulation of wealth.
3) Use Native Wallets To Hold Your Coins:
Always be sure that your assets are protected. One of the best ways to make sure your coins are safe and secure is simply storing them in your native coin wallet. Various crypto exchanges allow for easy and simple investing coin selling, and fund deposits. Then again, they’re always susceptible to hacks or freezes, and you’d lose up to all your funds instantly. Native wallets are a lot more secure. Since they’re decentralized, the account holder has control. You’re the only person that will ever have your account keys.
4) Do Your Homework:
Most crypto traders wind up losing money. That doesn’t mean that investing in cryptocurrencies is a bad idea. What it does mean is that you need to do things smart, and that starts with doing research.
Trading in cryptocurrencies is still a new world, so investors are making plenty of mistakes. During the 2018 Bitcoin price spike, lots of investors pushed their pile of chips straight into the middle of it all. However, just a little research would have told them that a bull market was coming up.
Avoid obvious pitfalls by reading up on market histories and forecasts before you make any huge financial decisions. Market education lets you get in and out of the market at just the right times to enjoy serious financial gains.
The revolutionary world of cryptocurrency is here. It offers tremendous opportunities for those looking for eye-opening investment gains. Enter the market by using these tips so you can protect all your assets while creating the wealth you dream about.
