How To Be A Good Crypto Investor With 25 Beginners Objective Questions.
If you were to go into mortgaging a property as part of an investment, what options would you have been looking at? I guess the basics would be the conditioning of the property – good or bad?
And when they are good enough, other options like the boiler room, storage areas, stairways, elevators and all other kinds of things you would have been looked at – Donald Trump.
But here you are in cryptocurrency investment?
What are the best options you should look at for, and how should you divide your portfolio? These and more we will see as we go on.
Let me guess, I don’t know your stand/expertise in crypto investment, all I did was to make research to see how this will help you out.
And if it does, please do let me know by commenting. If not, I will do even more the next time to answer your lingering questions.
HOW TO BE A GOOD INVESTOR
It starts by not allowing yourself to be scammed your last Bitcoin as I was. My ugly experience few months ago.
Also, let’s say you want to start a website, don’t go with the MOST Popular startup, avoid my mistake – let me be your guilder. Please learn from my mistake.
All right, let’s go on.
Bitcoin investment should be part of your investments – A Bitcoin Whale.
Even in the worst economy, there is no excuse for putting money in the bed – Donald Trump.
Now, how do we become a good investor – most especially crypto, in the phase of many and more Blockchain projects to go for?
However, a quick insight is that the above line answers 20% of the question. That is, in all thy investments, Bitcoin should be there – first, or part of it.
Now the big picture,
If our investment target were stocks, the story would have been different, but as far as crypto is concerned, a recommended starting point on how to be a good investor is first seeing these 35 experts round up steps on how to invest and trade in cryptocurrency, after that, you want to go for crypto financial IQ.
This is how to go about it.
You want to be a good student by being aligned with what is going on in the crypto world.
You want to follow the cryptocurrency market, leaders, whales, and the current indicators.
I know it might be a huge task, yet, you want to follow the credible sources in order to synthesize information the best way investors do.
And talking about market indicators. There is no doubt that investors use the indicators for two focal functions;
(1.) to evaluate how they have done in the past,
(2.) to make better predictions on how the market will do in the future.
Now the big question is?
Will, and can you have the whole day doing this (following crypto market trends) on your own?
Well, the answer might be obvious, yet, it all boils down to how we want to go about it.
Again, if your answer is no, then, it might be interesting to point out that there are those that take excitements in doing it themselves or with their teams (searching for the best indicators I mean).
For an example, this is what @Crypto Analysis had to say about creating crypto market indicators [sample below].
“Creating indicators is the most humbling experience I’ve gone through in crypto because the people I work with are some damn geniuses. Truly. They come up with cool additional features that I didn’t even think of”.
So, the thing is doing it your way.
That is. It’s either you use the above tools or you follow those that can do it for you.
WHEN TO DRAW BACK…
If your market analytics or investment is trouncing on you, the best option you can go for is changing hands by turning your money over to your money manager or returning it from whence it came from – wallet or bank (in preparation for more advanced market analysis).
WHAT IT MEANS TO INVEST IN CRYPTOCURRENCY
Now, it is important that I clear the air about what it means to invest in cryptocurrency.
If we want to hold a top Crypto like Bitcoin before any other one, the key concept here is that holding Bitcoin means to have a share in the venture/project.
WHAT WILL MAKE THE DIFFERENCE NOW IN 2018?
A lot, and even more.
Now, you will agree with me that if we were in 2013 or even 2014, holding Bitcoin would have been a very very good and hopeful venture – that is, if we knew that the 2017 surge would have happened though.
But here we are in 2018. What will make the difference now?
The difference here is that Bitcoin might not be what it was in 2017 any time soon [realistic stand], or it can be more.
But the truth here is that Bitcoin is volatile.
It is risky which your trusting of a crypto exchange might mean you losing out – that is if you kept your digital asset on a vague crypto exchange instead of a good vault.
While it may seem as bitcoin is unregulated, you can see why the SEC wants to play in fair.
An alternate advise you can take now is this rephrased quote from the CEO of Xapo:
“the second most stupid thing you could do right now is to own an amount of Bitcoin you cannot afford to lose, and the most stupid thing is not to own any”
[bctt tweet=”“the second most stupid thing you could do right now is to own an amount of Bitcoin you cannot afford to lose, and the most stupid thing is not to own any”” username=””]
So, before you give it a go, you want to invest only what you can avoid giving a big sigh if things do not work out as was planned.
But why not?
You can never say never…if the ETF is granted in September 2018, then it is possible that your investment might be worthwhile – but in a long run…
Howbeit, based on the research of holding Bitcoin, do you think you should hold more of it?
WHERE MANY CRYPTOCURRENCY INVESTORS HAVE GOT IT ALL WRONG
While there are no doubts that the current stand of bitcoin- regulation is not what satoshi would have wanted it.
Yet, if this currency is left in the hands of the big crypto whales, you might not be surprised to see a great deal of manipulation; doing it their own way – just to favor them.
The key point here is that many enthusiasts see Bitcoin JUST for what they can gain/get out of it [in a short time] and not for what it stands for or what it was created to solve.
The truth be told, Bitcoin might not be endorsed by SEC come September 2018, yet, that won’t stop the functions Bitcoin/cryptos has come to play as a universal currency different from our traditional banking vibes.
If it so happens (no SEC approval), it means that the growth won’t be what we might have been expecting in a shorter time.
Or don’t we get surprised that almost all the crypto news aggressors talk 70% most of the time about crypto price jumps?
Now, it seems that all the focus have been channeled to – hey, I bought Bitcoin last year at $16,000 and I am waiting for a $30,000 price value in 8 months’ time.
Can I tell you the truth?
It does not or may not just work that way. But why not?
A lot of innocent people have been scammed off their money via exit scams or Ponzi’s or vague investments channels simply because they [beginners and known enthusiasts] refused to learn BETTER.
[bctt tweet=”A lot of innocent people have been scammed off their money via exit scams or Ponzi’s or vague investments channels” username=””]
They even failed to secure their assets, and the baseline results summed out as – Bitcoin is a scam 👿 or another rejected currency that may never see en masse adoption anytime soon.
So, the issue is complicating when you look at it from a distance away.
The truth is that, it is fine to have a belief that Bitcoin or your cryptocurrency investment will make out big [probably make us rich!!!] but yet, the big focus shouldn’t be on PROFITING only.
We also have to back the currency up to scale through mass adoption.
And of course, if BITCOIN is established at a range of 10 – 20%, we might see many companies and startups accepting it, and the result?
THAT profiting we hoped for might come true faster.
Let’s get a quote from Ethereum master.
“I think there’s too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping price, but the latter is much better for actual adoption”.
— Vitalik Non-giver of Ether (@VitalikButerin) as at July 29, 2018
HOW TO BE A GOOD CRYPTO INVESTOR WITH 25 BEGINNERS OBJECTIVE QUESTIONS
IS CRYPTOCURRENCY AN END TO MEANS?
This should never be taken as an end in itself.
I mean, crypto investment should not be considered as a last resort or a sure proof that we will have a return of investment in a short period of time.
I think it does not work that way if we are to see the good days of investment.
What to do is invest an amount such that if the returns are not immediately, it should be pushed to or considered as a long term investment. Hope that helps…?
IS CRYPTOCURRENCY INVESTMENT A QUICK RICH SCHEME?
It is so easy to term crypto investment as a scam because most of us go for the quick rich schemes like the Ponzi and so on.
A 22-year millionaire was recently scammed of about 5,000BTC in what was one of the most strategic ways of scamming a person.
So, I would say, if you are coming into altcoin investment for an immediate get rich ending, then, believe me, this is not what you want to do.
“Whatever you do, work at it with all your heart” – Colossians 3:23-24
WHEN NOT TO INVEST IN CRYPTOCURRENCY?
Now, get this right because you will be surprised by the recommendations for they are life events.
Do Not Borrow Money To Invest In Cryptocurrency 😯
[bctt tweet=”Do Not Borrow Money To Invest In Cryptocurrency – iwillteachucrypto.com” username=””]
This is simple or might sound stupid but when greed and excitement dawn on you, you might be…tempted to borrow and buy a sudden exciting blockchain project.
Never, I say again, never borrow money for altcoins, else, you might need to borrow more from another source to pay the debt (from the first place/person).
THE FEELING/FEAR OF MISSING OUT – FOMOCATION.
I have had a situation whereby all I had to do was just let it go. Not because I never wanted it. No. But just because I had to miss out on some projects.
An example was EOS.
We all know when EOS was buzzing at $18+, and everyone was like…yeah, this is the next Ethereum. Everywhere was buy EOS, buy EOS, I say buy EOS now.
You can still buy it in 4 steps though, but it is not what it was then – $18+. Today it is comfortably sitting at $8 or less (15th Aug, 2018).
So, do not buy just because you feel like you will miss out. Just find a place of DYORing… do more of DYORing before giving in.
“She took a deep breath and let it go.”
“The past has passed, let it fucking go.”
“Don’t overthink, just let it go.”
“One of the simplest ways to stay happy is… Letting go of the things that make you sad.” @ chiara-cortese
WHEN YOU DON’T TRUST THE VISION OF THE BLOCKCHAIN PROJECT?
This concept is simple.
If I don’t trust Mc Donald’s to serve my breakfast, the best thing I can do is go to Ken turkey fried chicken, provided I trust their team and chefs.
Leveraging it to investing in Bitcoin or any Blockchain project,
For an instance, if you were excited about let’s say Stellar coin, the first thing you want to do is see through their team, roadmap, whitepaper and so on.
Do they match to your liking? If they do, then, you can go ahead and hold the Stellar project, but if not, then, it is a NO!
And talking about Stellar, I see this project going far – IBM might probably take it to the peak. It might even replace EOS soon – just saying based on what is on ground.
WHICH CRYPTOCURRENCY SHOULD I INVEST IN?
A tricky question to answer. Yet, I am just like you so, I would assume I am talking-to myself – judge it after all.
Last year, about the time Bitcoin was running over at $14,000 or more, one of my crypto friends came up to me and made a suggestion. He recommended that I spread the risk by going for other cryptocurrencies.
As a diehard Bitcoin believer, I said no.
But then, it never took long when I gave in to his idea and held some $40 Litecoins or so. After the decision, nobody needed to tell me whether it was a good or bad decision: I knew it myself.
Now, what am I trying to say?
Some years ago, after seeing how to overcome fear and BUY bitcoin on my own, all I knew was Bitcoin and only Bitcoin. Every other coin was second to it.
However, like my decision to go for Litecoin, the funny thing is that the founder of Litecoin Charlie Lee even recommend that you should buy Bitcoin before Litecoin. Now, how about that?
A big lesson?
I know you might be 100% right on this. It might be that the only project you believe is Bitcoin. If so, good and great.
If you trust it only, good and great. Just stick to what you believe in…
It’s believing you can push through the exhaustion just to be able to sing after you do a cartwheel or a split – Naima Adedap
If you’re still believing, then you’re almost there! – Anthony Liccione
But if you want more, you can do your due diligent research based (investment options that guarantee failure) on what you should look at for – the project’s vision [the whitepaper explains everything].
Be it as it may, a fair coin I might have a second thought is Stellar or VeChain (not a recommendation). Yeah, but I like Vechain.
Just this week (18th Aug 2018) – it has surged like 50%…
HOW SHOULD I DIVIDE MY CRYPTOCURRENCY INVESTMENT?
Yeah, this is where you probably was waiting for.
The very first thing you want to do is consult with experts.
Of course, the experts are not magicians, yet, they can do a great job. And remember, they won’t do it for free. 😎
If you are not comfortable with their options, then let’s go over to the options below and see how they will fit into your projects analytics.
Suji of Blockgeeks.com thinks that a perfect stat for dividing your portfolio is as follows.
< 30 years old (max) 30% Crypto, 50% Traditional Investments.
30 – 40 years old (max) 20% Crypto, 60% Traditional Investments.
> 40 years old (max) 10% Crypto, 70% Traditional Investments.
Based on his view, if you are less than 30 years old, you are free to go into crypto and invest just 30% of your assets there.
But, if 30 – 40, an investment in a percentage of 20 is enough.
And lastly, if you are above 40 years, then a maximum portfolio you can part within cryptocurrency is 10%.
THE EXACT AMOUNT YOU SHOULD ONLY INVEST IN CRYPTOCURRENCY
This is a simple guide I just discovered and I think it will help you.
If you should make any investment in cryptocurrency, it is ethical to choose the best-fit percentage by your age if only you want to be on the safer side.
This is it.
If you had $100,000 to invest, and you are 30 years. The option here is to subtract 30 from 100 to arrive at an allocation: 70.
With the above, you are okay to invest 30% of your asset on what you want to (in this case cryptocurrencies) and the 70% on other traditional investments.
And as you grow older, make changes to minimize the vulnerability to cryptos by moving the money to fiat – cash.
So, with this secret, I am sure that you won’t lose out. At least, you have your 70% backing you up.
However, before you invest, never fail to read how to. I have already done that.
Well, I don’t know his reasons for the stats but I know that a rare gem about it is avoiding a disappointment you might not see coming.
You might need to consider the market conditions and interest rates. Again, you want to invest with your own financial need in mind.
To round it up, with the basic guidelines to follow, an individual looking to invest or divide his portfolio in cryptocurrency should do it reasonably, safely, and hopefully with a lucrative, back end – Donald Trump.
The Worst You Can Do
The worst thing we can do is allow fear to overtake us such that we allow our cash to sit right there in the bank.
Of course, if we are not using it now, the best option might be to put it to work.
As the billionaire would put it, your money should be at work at all times – Donald Trump.
THE BEST BEGINNER CRYPTOCURRENCY EXCHANGE TO USE?
If you ask me, I don’t like ALL THAT complicated exchanges in order to avoid the second scam.
So, to avoid all of that, I stick with the ones I have used and are damm safe.
For me, they are Coinbase, Cex, Changelly and Easy CoinSwitch.
DIFFERENT INVESTMENT OPTIONS
Many crypto enthusiasts believe in crypto or Bitcoin lending than bitcoin trading. Also, some believe in using automated tools to work things out for them.
While the options are very okay and recommended, it all boils down to what we want per time.
For an example, there are other cryptocians that never wanted to hear about anything ICO.
In fact, they never invested in any one of them except the top 5 or 10 crypto project they believed in.
Now, that is a great big deal because they might not want to experience exit scams of any sort.
HOW DO I GET FREE STARTUP MONEY FOR CRYPTO TRADING/INVESTMENT?
It does not have to be a big deal before you try out crypto investing.
With Coinbase, you can get a free $10 to test out some crypto waters – that is if you want to really take precaution. Else, you can sponsor yourself from your BACK pocket – left over
If you are in to get a free $10 to test out some crypto investment, you want to go over to Coinbase with this link, fund your account with just $100, use it and buy any cryptos there and you will be liable to your free $10.
N/B: if you don’t fund and buy at least $100 cryptos, you cannot be given…
DO I NEED TO UNDERSTAND HOW BITCOIN WORKS BEFORE INVESTING?
Well, yes, you have to understand it, but yet, the concept here is getting to know the basics such as sending, receiving, seeing the market trends and some other minor options.
However, to round it up, if you are not a technical person, you want to get conversant with those because you will need them.
This guide will tell you about Cryptocurrency 2018 from A-Z; money concepts and cryptos.
This guide is what you need to start off with Bitcoin; a complete beginner’s guide to how Satoshi wanted you to understand Bitcoin.
WHERE TO BUY CRYPTOCURRENCIES IN YOUR COUNTRY?
Most of the times, I see the question of where to buy Cryptocurrency using GBP, Rupees and in Canada. I am wondering if my options below are wrong, I guess, they are not.
WHAT ARE SOME OF THE GUIDES TO BUYING CRYPTOCURRENCIES ON EXCHANGE WEBSITES?
I have done all those for you, so, see below.
This is how to buy Ripple, Dash, and other 75 Coins from home [My complete experience steps].
WHAT ARE THE ADVANCED EXCHANGES TO USE AND TRADE?
Going for advanced exchanges boil down to being fluent at using the above exchanges. If not, you might not need the advanced places yet.
However, if you are okay with them, some reputable places I can recommend are BitMEX, Bittrex, Binance, Kucoin and Yobit.
WHAT ARE THE FX BROKERS THAT ARE OFFERING TRADING OF BITCOIN (USDBTC?)
Often than not, I prefer IqOption because it is beginners friendly and has a wider options for starters.
IS THERE ANYTHING LIKE AUTOMATED TRADING?
While the answer can be tricky, the main point here is going for, and using reputable automated trading tools available.
The big next thing is testing them out with a smaller amount of money before giving in wholly.
Even though a lot of people are making use of them with recommendations, you still want to test each of them and see how far.
Should you need more questioning about trading by automation using Cryptoblizz, it is much simpler with their FAQs.
Another is using Cryptbot, it has tinkering options.
BEST SITE TO SEE LIVE CRYPTOCURRENCY CHARTS?
By all means, there are reputable places to see Live Cryptocurrency Charts. I would recommend you check out these 25 crypto trading and tracking tools first.
While I like Coinigy, you can also try out TradingView tool and see how actually it is; Sign up for a free trial with T.V.
HOW DO I KEEP MY COINS SAFELY ON CRYPTO EXCHANGES?
One of the questions you might want to ask is; what happens if the exchange site goes bankrupt or out of business on which you kept your coins?
A simple answer is that, if the altcoin website that managed your coins goes out of business, you lose out as well.
The way out?
• Keep a smaller amount you can set your eye off – lose; keep based on trading terms.
• Move it to a paper wallet; if you can stand it.
• Move your coins to a secure cryptocurrency wallet recommended by experts.
For Beginners, and say just the top 5 coins management, you can use Digital Bitbox – Oh, I love this minimalist wallet.
Not costly – it is simply the best for beginners to use.
Note: it does not manage more coins. It is just for the first 5 top coins.
For advanced or multiple users, you can use Ledger Nano X – it can manage up to 500 coins, and Monero asset had recently been added. A great wallet if you ask me.
Popular and dogged. Another crypto wallet you want to use is Trezor T.
This is a simple but complete wallet just like Ledger if you want to manage more than 400 coins.
And just to observe, Trezor has recently integrated Metamask; meaning, all your Dapps, and ERC-20 assets will Easily be managed.
SHOULD I USE A PAPER WALLET?
My answer here might be obvious. This is it.
Maybe because I don’t have a laser jet printer to print out the paper wallet, or I don’t want to be sweeping my cache, or better still, neglect deleting the history of my desktop over time.
If you want to use a Paper wallet, go ahead if you can.
And to help out, I will enlist how to convert your coins to fiat, but I wouldn’t dare use it.
For me, a better option apart from Hardware wallet is Coinbase/crypto4 wallets. At least, I know that my funds are insured.
And should I want more in place of a paper wallet, I know how to use CoinPayments/wallet.
PERSONAL NOTIFICATION 😕
(I like you, and I would want to send you great crypto/Blockchain insights periodically for free…no string attached.)
Here is the deal,
If after 5 articles and you are not convinced or have reason to be on my list, then, use one click to unsubscribe. Yeah, it is that simple).
If you will willingly join, click the image below or here.
Read this post and test and see if you should trust me about that or,
Get this 100 checklist of a tool to start with…
And let me warn you, if you are not a DIE HARD Crypto enthusiast, the 100 list will DEVOUR YOU.
It is just stocked up. Just being precautionary!!!
HOW DO I CONVERT MY COINS FROM A PAPER WALLET TO CASH?
First of all, before you use a paper wallet, you want to test it first with a smaller amount.
A better alternative is to use the free $10 from Coinbase for that, at least, if lost, you won’t feel it much than transfer $400 only to find out that they were gone.
Converting your coins to cash on Paper wallet
You will need a mobile or desktop a wallet. One of the bests is Mycelium.
When you download it, sweep the coins to the mobile app. When done, the next step is to scan the private key barcode from your paper wallet.
Automatically, it will reflect on the mobile app wherefore you can finally send it to any Bitcoin wallet you choose – like Greenbits, Copay, Coinbase wallet and so on.
• Get your paper wallet – already in use.
• Get a desktop or Paper friendly wallet – Mycelium
• Scan the private key barcode from your paper wallet – using your Mycelium app.
• On reflection or recognition, send the coins to another crypto – Copay, Coinbase and more.
HOW DO I GET TO KNOW ALL THE CRYPTO TRADING TERMS?
For sure. You can be overwhelmed by big headed crypto lines. Things like MACD, Bollinger bands are just the beginning of wisdom for you.
So, to save yourself from all the headaches, you want to get all the crypto trading lines from day one.
Recommended Reading: 300 Crypto Trading Lines for McAfee followers.
WHAT ARE SOME CRYPTO TRADING COMMUNITIES TO JOIN?
It can be tough and even tougher if you don’t have the lightweight of where to stand. But when you do, you see that your work is minimized by 20%.
How can that happen?
These are the relevant 165 crypto communities you might find interesting to join from day one.
HOW DO I PAY LESS OR NOTHING ON CRYPTO TAX?
It boils down to your country of residence.
There are a lot of Crypto/Blockchain countries that no crypto tax are being charged.
However, if you are concerned about it, you want to minimize the fee by some meaningful percentages using a recommended expert tool to save yourself from extravagant fees.
Without mixing words, I believe CoinTracking can help you.
A great place you can start with is CoinTracking.
With CoinTracking you have experts already stationed to wave over much tax fees.
WHERE ELSE CAN I GO IF NOT CRYPTO TRADING?
Well, this is a tricky one, yet, it starts with what we want.
I believe, as a great enthusiast you and I are, the best option I can think of is lending out (if only you are comfortable with that). I mean, lending Bitcoin for more returns over a period of time.
And watch out!
This method of investment is not a short team – it is a long term. The good thing is that your assets will appreciate though.
Again, there are many recommended lending places out there, but, it happens that you can make diligent research on that.
But if you want a quick view of a reputable place, then, Bitbond is a great place to start out.
Even in the worst economy, there is no excuse for putting money in the bed –Donald Trump.
Blessed is the one who perseveres under trial because, having stood the test, that person will receive the crown of life that the Lord has promised to those who love him – James 1:12
If Bitcoin is a Rat Poison, then the Banks are the RATS – @ Pantera
The truth is that, at times, all we may need is just the motivation to go on…Imagine when I was scammed my last Bitcoin, hmmm.
There is no doubt that when Amazon shares came up at $1, it was called a bubble.
And when it drew the line of seriousness at $100, most people still called it a bubble, and at $1000, they probably saw it as raw gold. How funny… 🙄
Now, the question will be, to what extent would you believe Bitcoin or crypto in the long run?
Beliefs founded on the bubblelity concept?
If that is it, then know that you are not alone. In fact, you have my backing on this.
But the widow’s mite? Check out these 7 men and tell me what you see.
Note: I am not naïve to the fact that SEC on Bitcoin ETFs approval is daunting.
Again, I am not naive that major altcoins are going down the drain in price value – even the ones we so much believed on – Ripple.
But the best?
You might just want to wrap up some coins [yours to keep], put out as if you hated it.
That is, doing it as if it were in the 90’s when Amazon share was $1. Just buy some $$$ amount you can afford.
And don’t kill yourself if you CANNOT BUY SOME CRYPTOS NOW, earn freely still.
I know what you want to say – no need, I am just in your shoe.
This is the point am trying to make. You can buy a digital asset as an Amazon shares you want at your level of financial capacity.
The best coin to buy?
Let me see, I am thinking of the best option that will help you out..
This is it.
About the coin to go for, I strongly believe this will best be decided by you.
Even thou it is not a grounded recommendation, yet, as a man that sees things from your own perspective, first of all, I would go for Bitcoin before checking out all other Blockchain projects.
And if you are to go for many more crypto projects, I would say use a wallet you trust.
I have mentioned a few I think will help you out. Hope this makes sense?
Before we round up:
Let’s talk about the Blockchain Technology…
Do you know that India finally bowed to Blockchain Technology? I bet you will believe why? This is why...
Ref code: Trump; how to be a billionaire.