The cryptocurrency and blockchain space has been gaining more popularity recently, even though the crypto market has been embraced by a bearish trend this year. Regardless of the prices’ fall, the companies behind the cryptos have continued to work on their projects, developments and important partnerships. More and more financial institutions teamed up with crypto and blockchain companies because everyone understands that instead of fighting innovation, it’s best just to ride this amazing wave of new tech and solutions.
Bitcoin was launched back in 2009, and by now, when 2018 is about to end, the crypto space has evolved significantly. Today, there are more than 2,000 cryptos on the market and, as expected, the number continues to grow. But in such rich scenery, it’s important to know a few things before making an investment, and usually, the decision can be quite challenging. However, we have a few tips that will definitely turn out useful for potential future investors in crypto.
Do your homework to avoid scams
Let’s say that you purchased one Bitcoin back in 2011 for $100. Now, you’re the lucky owner of a Bitcoin that’s valued today at $3,426.35, according to CoinMarketCap. Despite the recent fall of Bitcoin’s price, according to expert opinions, owning BTC is always a good choice. But you can also invest in other cryptos as well, just make sure to do your homework in order to be able to avoid scams and worthless tokens. You can start by checking out Trybe, a useful website which explores the most important cryptos and the opportunities that they have to offer.
Consider dip investment
Besides the traditional way of investing in crypto, you can also consider dip investment. This simply means buying cryptos at a low price and then selling them high. So, this strategy involves selling your crypto when the price reaches a peak. It all depends on your risk comfort. Experts usually recommend having a conservative strategy which consists in waiting to purchase a token until the price starts rising after a dip and only sell it when the price starts to go down again.
Become a part of the industry
This might be the lowest-risk choice of getting involved with crypto. There are lots of investment companies and startups as the crypto and blockchain industry continue to flourish. There are a lot of positions that you could consider hunting, and they include blockchain engineer/developer, community manager, content marketer, business developer, tech writer, and even a meme specialist.
The crypto and blockchain wave is getting stronger and stronger, and the best thing you can do is find the best way to ride it. Investing in crypto is one of the best choices, but with one condition: always stay informed and set your goals and levels of risk.