The newest fad in today's world boosted by the worldwide lockdown during the covid pandemic; Investing in crypto is all the rage, but what is Crypto? How do you get started with Binance copy trading?
In the simplest terms, cryptocurrency is essentially a digital currency that can be used for transactions or as an investment.
All transactions related to crypto are verified and stored in a decentralized cryptographic form.
As it is decentralized, crypto is not under the intermediary supervision of the government or any other organization. The transactions occur safely, and online, between the buyer and seller; while cryptographic means highly coded, puzzle-like language that is very difficult to hack into.
Should I invest in crypto?
The answer depends on you. Educate yourself fully about the good, the bad, and everything in between before you invest in crypto, for it to end up being a fruitful investment.
Here's the simplest way to remember all the helpful things to know before investing in crypto:
1. Go with your gut
If you find yourself feeling uncertain about the investment, don't go ahead. Take your time until you feel like it's the right thing to do.
2. Evaluate
As we mentioned before, evaluate the always keep in a notepad handy to write down the risks and the benefits associated with your crypto investment. Be it the first investment or the 100th one.
3. Security
Since there is no supervising intermediary, you have to ensure you secure all your transactions. Perform transactions only with safe connections, trade safe crypto, back other safe-keep your data, ensure to protect yourself from hackers and data theft.
How to get started in cryptocurrency?
Here's how you can get started with crypto investing.
- Learn your basics: starting with the definition of crypto to the types of crypto, learn everything you can find about crypto investments.
- Learn from others: Read up about others' experiences, the good the bad, and everything in between before you even think of investing your own money.
Is Cryptocurrency a safe investment?
Yes. Crypto investments are safe as long as you keep in mind the three points we've mentioned above.
- Remember to perform rigorous research on the specific crypto you wish to invest in before you even consider putting your money out there to save yourself from scammers.
- Use a safe and reliable trading platform, such as zipmex.
- Always use a secure internet connection and the best VPNs to protect yourself.
- Keep a backup hard drive to save and store all your transaction data safe. If you're ever suspicious of malware or hackers, act fast and protect yourself by transferring all the essential data to a different and safer device.
What crypto should I invest in?
In today's crypto market, over 6,000 different coins are trying to grab your attention promising you the best returns, but it's in your best interest to start safely.
Bitcoin makes up almost 40% of the market. It has been consistently at the top and has given the best returns. It is one of the safe crypto investments.
Other top cryptos such as Etherium, XRP, and Litecoin can be recommended.
Bitcoin over 9000, a viral meme owing to the increase in the price of Bitcoin.
When to invest in crypto?
Start today. It's easier to start investing when you buy a dip or if the market is low but the returns aren't assured as it is a volatile market. Having said that, if you feel like you're ready to invest after fully assessing the risks and returns of cryptocurrency, associated with your investment (and not just as a fad), invest today.
What is a hodler?
It can be translated as "hold on to dear life" but it was originally a term misspelt while typing hold on.
In the crypto world, it means you mustn't trade and must hold on to your assets, and that the situation is volatile.
What is the best crypto portfolio strategy?
The ideal cryptocurrency investing strategy in today's market would be to start with a safe number of 2% of your entire investment portfolio. The rest 98% ideally can be your conventional investments such as real estate, stocks, and gold.
As you gain experience, you can slowly diversify your portfolio. This is a time-consuming procedure associated with risks and uncertainties.
Having said that, if you want to invest safely but also have incredibly high returns, you can do so by following a copy trading service.
This is essentially a method that helps you mimic the trading that experienced investors carry out. So it's a win-win situation where you get the best returns and also learn from the best in the market.
So that was the best guide to help you with your first safe crypto investment today. Following this guide will help you get the best returns and train you to trade like a pro!
Happy investing!
