Millenials are Preferring to Invest in Cryptocurrency
As the world changes and turns, many more millenials are choosing to invest in cryptocurrency over other types of currencies in the world. Fiat currency is going to be obsolete with time and due to this, many millenials feel that cryptocurrency is going to be the new currency that will be transferred and used throughout the world.
2017 was the year for big changes in the investment world. With investments being made in cryptocurrencies, rather than other types of currencies, this is definitely something that has changed the way things are being done in the world and it has definitely shown that it is one of the most profitable.
Exceeding $750 billion in the previous year, 2018 is looking just as promising. With growth and expansion to continue onwards and upwards, it is a prime time to seize the opportunities that arise from cryptocurrencies and the wealth to be had.
Blockchain Capital reported that respondents of a poll between the ages of 18 and 34, 30% of them found cryptocurrencies to be the best suited option for investing in and with. However, that is only 30%, a large portion of millennials still doubt the currency and here is why...
Bitcoin value is definitely something that continues to change with time. The amounts fluctuate from $20,000 to $6,000, which is a large drop that you have to think about when investing in. This volatility has made it so that a lot of investors want to walk away from using the currency as a potential investment for fear of losing their money. Putting your money down and then worrying about it losing value is a true fear.
The price swing was caused by the Indian government's new policy against the use of cryptocurrency. However, it continues to gain ground in the market, even with this drop in value.
It was shown that the risks of investing in cryptocurrencies is just as dangerous as investing in stocks, bonds and other traditional currency methods.
In order to minimize the risks of suffering losses, here are some tips and tricks you can use to your advantage.
In order to trade under the best conditions, many of the larger traders will change the market in their favor. They will create specially designed bots that help them do this. The value of one of the cryptocurrencies can change in just a few minutes time.
These bots are automated and can buy and sell based on what they're programmed to specifically do. New to the investment world, they are making it so these large investors are getting more out of the investments made. Already used on the stock market, these bots are able to artificially inflate the prices of the coins, making investors overpay for the coins on the market, as well as the other way around, making it easier for these traders to get a much lower price on the coin they purchase.
You always want to be safe, it is just what every investor wants but you have to keep in mind that investing is a game you play and you never know the outcome. It is important to calculate your profits and losses in order to keep safe from the unexpected. This then gives you information to use on deciding whether or not you're ready to take the risk.
How much can you safely invest? How much of that can you safely lose? All of it? Most of it? Only a small portion of it? This can be a set amount, a percentage or any other number. You then want to compare this amount to the potential loss from the investment.
If you're looking for a long term way to invest, cryptocurrency is a wise currency to invest in with little to no risks. However, short periods of time are not usually a very wise decision with this currency.
This is a tip that is used by any investor out there. Sometimes when something new hits the market, a lot of the investors are going to jump on it, regardless if it makes them money or not. They have the hope that it is going to make them a lot of money, but a lot of times it does not. It is not the next Bitcoin on the market.
Before you invest in any currency or token, remember that the coins or tokens have to be backed by something. They let out a whitepaper that gives more information about the product, but if you do not read it then do you really know what you're actually investing in?
Yes, we know that these papers are long and boring. They do not make them enticing and they are actually hoping you do not read them. However, it is a crucial, very important document that lets you know more about the company and if they're going to be a profitable backing for you to invest in. If they have the potential to increase and prosper, then so does the currency.
When it comes to what you invest in, the millenials are pushing more towards those cryptocurrencies out there, but many potential investors have doubts regarding the safeness of these investments, as well as how profitable they're really going to be.
In conclusion, it is always important to calculate any risks that come with any investments that you go to take or are willing to take. Make sure to read all of the information that comes with the investments and always remain rational. Never fall victim to the training bots that sometimes lead you in the wrong direction.
Nousplatform is designed to provide the help that investors - new and old - need to make the best investments and decisions. Investors have one place to access their funds, make their trades, know their profit and losses and even acquire more assets. With dedicated cryptocurrency experts as a part of the platform, you can always make sure you're making the most profitable choice and trade.
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