Invest in Crytocurrencies correctly !
With Bitcoin hitting its all time high of 11000 dollars earlier this week . It has attracted many peoples attention , some have even decided to buy a single bitcoin to invest in . However that is a very unwise decision to make . Bitcoin is almost 10 years old , when it first started out it was worth 0.01 , it exponential growth during this 10 years has people calling it the online gold . However , many investors of Crytocurrencies would tell you to invest in alt coins (coins that are like bitcoins but with different backgrounds and aims ) .
Before investing one should research about the block chain and understand the potential of this technology , which is the underlying concept of these Crytocurrencies .
To start investing , set up a wallet address to store your coins . I recommend Coinbase , thought it only accept 3 currencies (Bitcoin ,Etherum , Litecoin) . Link a bank account to start buying the coins , i recommend buy the amount , you are willing to lose , the volatility of these Crytocurrencies are very high . (high risk , high rewards )
Decide if you want short term gains or long term gains . This will change the way you are handling your Crytocurrencies . For long term investors , you are not looking for exchanges or how the coins has rose in the last 24 hours . But you are actually holding on to your coin for the next 5 to 10 years . For short term investors , you will be interested if the coins current value and how to best maximise your gains through buying and selling your coins .
For those who do not want to overload themselves with the information of blockchain and how the coins work you can check out bitconnect where you lend people money and earn an interest of them . Or try cloud minning where you mine coins to gain them right away .
Link to the methods
(Coinbase ) https://www.coinbase.com/join/5a1cf169aca79a0133c3371e
(Bitconnect) https://bitconnect.co/?ref=Floatingflower
(Gennsis Minning) https://www.genesis-mining.com (use code : j8pYA2 ) for 3% off
(Bittrex) https://bittrex.com