you’ve stumbled upon this article because you are doing online research with
regards to how to be a wise investor in cryptocurrencies, specifically bitcoin.
You came to the right place! Below, we’ll share some easy tips for you to
maximize the value of your money.
1. Go Beyond Trading
investors will consider buying and selling bitcoin in an exchange platform as
the best route to earn money from the cryptocurrency. While it is indeed
promising, there are also other alternatives that you can explore. For
instance, you can find a bitcoin ATM
provider. The ATM can be placed in your current business location, providing
patrons with the means to transact bitcoins.
investors will surely say one thing – do not put all your eggs in one basket.
Meaning, you should not put all your money in bitcoin, regardless of how
promising it is. It is stupid to bring your savings to zero just so that you
will have the money to invest in bitcoin. In one interview with a bitcoin millionaire, the
latter recommended that you should invest about 10% of your savings in bitcoin,
which is the safest amount.
3. Be Realistic
comes with a risk, even bitcoin. Therefore, before anything else, you have to
be realistic about the future of your investment. Bitcoin prices are not rising
every day. In fact, it 2018, it suffered from sharp falls that made the
performance not-so-stellar. So, you have to be prepared for the worst things
that can happen to your investment, which is also exactly the reason why we
have earlier recommended that you should not put all your money in crypto,
regardless of how tempting it is.
Do not get too
excited with the investment route that you are about to take. You need to be
cautious and take the time to evaluate the risks that are involved. The success
stories of other people might make you bold enough to decide in haste, but do
not do it. This brings us to the last tip that is mentioned below.
5. Be Educated
most important is to be armed with the right knowledge, which will make it
easier for you to come up with the right investment decisions. Brush up on your
reading and spend time doing online research. Be part of online communities and
talk to people who have been avid investors of bitcoin. You can learn a lot
from their experiences. Take note that even in bitcoin, knowledge is power!
While it is indeed true that
there are many people who made millions because of bitcoin, sadly, not everyone
will be able to realize such a success story. To increase the likelihood that
you will succeed, take note of the things that have been mentioned above for
you to become an intelligent bitcoin investor