How to win from digital currencies?
Digital currencies may be one of the riskiest investments, but they are very rewarding in our time. While the vast majority of people who have made huge sums of money by investing in the digital currency have been technologically obsessed or interested in the medium. This prompted us to search for information about investing in the digital currency and to prepare this guide. You do not have to subscribe to a paid group or be a genius to profit from investing in digital currencies. Free resources like this manual should be more than sufficient. When we say "profit from digital currencies." We do not mean that you will become an overnight millionaire by investing $ 100 and sleeping, this is not how the investment works. The real investment is a continuous investment and requires knowledge of the projects you invest well in. You need to know if there is really a need for this digital currency and does the project work to solve this problem. This guide deals with the following topics: Different types of digital currencies When to buy and sell Important terms used by digital investors How to profit from your investments What causes the rise of the price of the digital currency How to track the price of digital currencies How to explore new investment opportunities before you start, Invest in just what you can afford to lose. Invest in your ability to take risks. Always do your extra research. The best time to buy a homeowner was 10 years ago. The second best time these days. If you want to buy one, To digital in non-contact: such as Ledger Nano, or Trezor, and be sure to follow the instructions that came with it.
The currency of Bitcoin is not the only digital currency:
Non-Bitcoins are referred to as Altcoins (alternative digital currencies) and these altcoins may be used either for a similar purpose or for a completely different purpose.
You may want to start investing in digital currencies in the direction of the "blue chip" of digital currencies, which have a market share of more than $ 2 billion.
Some sources claim that digital currencies with a market share of more than $ 30 million are eligible to be part of the blue chip of digital currencies.
If you want to get a broader look, you can go to the coinmarketcap website and look at the digital currency that has a market cap of over $ 30 million.
It is preferable for the majority to stick to the eligible segment, which has a market share of more than $ 2 billion because it makes investments safer.
The blue-chip of digital currency includes:
Currencies with a market share of over $ 2 billion:
Bitcoin - BTC - the first decentralized digital currency.
ETH - supports a platform for the development of smart contracts and decentralized applications (DAPP).
RIBL - XRP offers global cross-border payment solutions that are very fast and very cheap for banks.
The currency of the Bitcoin Cash - BCH - which is the result of the division of the bitcoin and is considered a little faster than Peavine.
The LTC Coin is also a split from the original Bitcoin and features faster and cheaper transactions.
EOS - a development platform that provides a Framework for Decentralized Applications (DAPP) and operates with the DPS principle.
BNB - Binance Coin - the currency of the giant Binance currency trading platform and will be used in the next decentralized DEX platform.
Stellar - Stellar supports high-speed international payments and provides a development platform that is somewhat similar to Ethereum and rivet.
Currencies with a market share of over $ 30 million ($ 500 million +):
Currency Cardano - ADA - a development platform, and each code is reviewed by experts.
TRON - TRX - the platform for sharing content based on Blockkin.
Monroe Currency XMR - Monero - is a digital currency based on privacy and is considered the most popular privacy currency.
Neem currency - NEM - platform development at the corporate level.
Dash - Dash is a division of the Bitcoin-based on privacy.
The Tizus-XTZ coin-development platform uses the DPoS working principle.
The Ayota currency - IOTA - specializes in Internet payments things, and supports LARSON.
Most alternative digital currencies can be bought using BTC or ETH. However, many trading platforms have started selling other currencies directly against currencies, for example:
Users of the CEEX platform can purchase coins of Betquin, Ethereum, Ripple, Betquin Cash, Dash and Pitcullen Gold and Stellar directly through cash.
You can also buy Bitcoin, NEM, NEO, Cardano, Ripple, Litecoin, IOTA, etc. directly from BitPanda if you live anywhere in Europe.
For most other digital currencies that can not be bought directly, you can buy them through the Binance platform using BTC or ETH.
What is the time to buy?
Two rules are preferred.
Rule 1: Put your foot on the doorstep now
No one can definitively determine the price of the digital currency in the future, so if you feel confident about the digital currency you have chosen, buy a small amount to start with and set your own.
Rule 2: "Be afraid when others are greedy and greedy when others are afraid"
This is a well-known statement by billionaire Warren Buffett, who urges people to buy when others sell (causing a price drop) and are cautious when everyone buys (causing a price hike).
The low price is usually followed by a recovery that causes it to increase and therefore investors can take advantage of the bearish trend in buying the digital currency at a lower price.
On the other hand, an improvement in price correction is usually followed that causes a significant drop in prices. This is normal because investors are likely to sell as soon as the price of the digital currency increases as they simply get their profits.
It's best not to think too much about it because it can become very technical, and in fact, if you're interested in good digital currency, now is the time to buy.
Another good tip is to be patient, if you buy a currency when the price is high and start to fall, just wait until the price recovers.
The last time to buy is when the currency is in a state of accumulation and that is when the currency rises slowly but steadily over a long period of time.
You can set up automatic buy orders on the platform if you expect the currency to fall somewhat. You can also track prices by adding currency to an application such as Black folio and setting price alerts (this will be further described).
Buy on the dip and sell when you go up
Ideally, you want to invest in an encrypted currency when it is beautiful and cheap, then sell it after the price rise dramatically.
For example; if you purchase 300,000 Stratis currency at a price of $ 0.01 on August 12, 2016, for $ 3 thousand, you will now have more than $ 300,000 at the current currency price of $ 1.10.
If you sell them in January 2018, you will be a millionaire, having earned more than $ 4.2 million from an initial investment of $ 3,000 when selling at $ 14 per currency at that time.
If you are not an early investor and you lose low prices, you can still buy during occasional declines, but simply because you have not bought the currency at the lowest price does not mean you are late.
Many projects take years to reach their full potential due to development and time-consuming user adoption.
Again, patience will help you more than hurt you as long as you invest in digital currency.
Let's go back to Rule 2: "Be scared when others are greedy and greedy when others are afraid."
This refers to waiting for everyone to buy and buy when everyone is selling.
When investors are "greedy" and buy, this causes the currency to continue to rise and you risk overpayment, especially if there is a subsequent price correction (temporary price reduction).
If you are looking at pump pumps with no strong reason behind them (no new developments, no partnerships, no important news or updates), it is best to wait for the price to drop again before buying.
HOLDING METHOD
The method of holding: a practice that means holding on to long-term investment without giving up the desire to sell.
The term HOLD actually originated from a spelling error by the Pitcintalk investor at the Bitcointalk forum. Then people began to use the term HOLD to refer to the principle of holding your investment for a precious life.
Many digital investors claim to have made a lot of money by following long-term investment rather than trading, while others claim to have made more money through trading.
If you are new, it is recommended to keep a long investment and leave trading for professionals or more experienced
If you're planning to join the digital currency community, here are some useful terms you should know
Sats - a word for Satoshi Satoshis, a part of the Pitcairn where it is equivalent to 1 Satoshi = 0.00000001 of one Pitcuin.
Fiat - Cash is the standard currency such as the US Dollar, the British Pound, the Euro, the Chinese Yuan, and so on.
ATH - the highest price ever - the highest rate reached by a currency against a base currency, such as the dollar, BTC, ETH or BNB or against the market in general.
Bull Market - a rising market with high currency prices, which encourages buying.
Bear Market - A bearish market where currency prices are falling, encouraging selling.
Feeling bullish - A positive sentiment that investment will grow in value.
Feeling Bearish - Feeling that investing will lose value.
Weak Hands Weak hands - people who buy a digital currency and then sell at low price.
Strong Hands - Investors who keep digital currencies do not care how low the price is for their faith in future price hikes
Bloodbath Blood Bath - When the price of a large number of digital coins falls in the market
Moon Moon - means a huge increase in price
Shakeout - When the price of the digital currency declines significantly, many investors are worried about losing.
Whale - an investor who has a huge amount of digital currency, and has the ability to influence the price of digital currency through the walls of purchase and sale and the disposal of large quantities or purchase at once.
Buy walls - When orders for a particular currency are much higher than the sell orders. Whales are rumored to be able to use purchase orders in an attempt to try to raise the price of a digital currency.
Sell Walls - When sales orders are much higher than purchase orders. It is rumored that whales can use sales walls to suppress the price of an encoded currency (whales usually use this method to accumulate more digital currency for themselves).
For example: imagine a $ 4 coin with a total offer of up to $ 5 million and a sale order for 1 million coins at $ 4.2 each! Therefore, the price is unlikely to exceed this price.
FUD - Fear, Uncertainty, and Doubt; Negative news published about a digital currency may be caused by the so-called FUD, which prompts investors to question their investments and sell or prevent other investors from buying, causing a fall in the currency.
Pump & Dump - A tricky tactic by some groups where you buy quantities of a currency when its price is cheap and then stir up the noise around it, causing the buying of unconscious investors, which will "inflate" the price, and then "sink" new investors By early investors who reap their profits.
After the dump, the price drops and investors who have been deceived are known as bagholders.
Bag Holder A term that refers to an investor holding on to a potentially bad investment that may have been the victim of a pump and dump on that currency, or simply bought a poor currency at its highest peak and then stuck to that currency with The price continues to fall.
FOMO: Fear of losing opportunities, which means heavy demand on a particular currency or the market in general for fear of losing the opportunity.
New Blood / Fresh Meat - These terms are meant to refer to new investors (Nob Noobs: someone who is inexperienced in some field).
DYOR - a shortcut to Do Your Own Research - means doing your own research.
Premise - a term that refers to where the developer assigns a certain amount of digital currency to a specific address before the code is released to the open community. This usually happens when developers retain a certain amount of digital currency for themselves for some reason.