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Tips for making a successful investment in cryptocurrency

Michael I. Hunt, August 21, 2019August 21, 2019

Crypto-currencies or Bitcoin are on the rise recently because their price has skyrocketed. This has allowed different investors to enrich themselves in considerable proportions. Most people wonder how good it is to invest in cryptocurrencies. Successful investment depends on how you do it, so strategies should be adopted. On the other hand, you need a value-based investment, how to build a portfolio or whatever. But before any investment, the ideal is to inquire to know if the investment is worth it. So, the investment has to meet your needs in the long run regal assets.

Investment in crypto-currencies: decide between trading or investing?

Currently, Forex brokers offer more trading with Bitcoin, while others also offer various cryptocurrencies. Which means that there is a solution to open an account with these brokers or to buy only Bitcoins and wait for the evaluation of your investment? The question is how to invest in cryptocurrencies? As in any online investment process, you must open an account at the broker. In general, this is a relatively simple solution, so you will not have to worry about having crypto-currencies or Bitcoins. You could simply have a position with the broker, moreover, many of them offer to open an account with a deposit of 100 dollars, or even less. In addition, you may also benefit from leverage, which means that you may choose a position that is more important than your deposit. This solution seems to be relatively easy, but be aware that two problems can lead to a potentially risky proposition. First, brokers charge a fee on open positions overnight. Then you have to pay 0, 03% minimum of your daily investment for a long position on Bitcoin. Not to mention the fact that they can increase fees at any time, which will make even more important the final bill. The security of the broker must also be taken into account. The idea is to choose a broker that is located in a country that offers deposit insurance.

Direct purchase of cryptocurrency: a good alternative

At the moment, the majority of investors choose the least expensive process, but how to invest in cryptocurrencies ? It’s simple because the technique is to buy the cryptocurrency directly to store it and resell it later in the hope of making a profit. Thus, you will have legal ownership of the asset and the approval to store it and protect it thereafter. The first thing you need to worry about is to protect your code. Indeed, the ownership of Bitcoin is such that a good bearer means that any individual with the code can spend Bitcoin. If the code is received by e-mail, it is as vulnerable as your e-mail. Nevertheless, wallet usage or digital safe is an alternative to store and protect your Bitcoin. It can act from a third party server, a phone application, or even a program to be stored on a PC. As well, it is quite possible to store it in a flash drive or others. As for the actual purchases, it is possible to choose to do it on vending machines, on credit or debit cards. On each transaction, you could be charged by fees that can reach 18%. In addition, you must have a portfolio in place to make a purchase.

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