Investment assets can be attractive if you approach the issue of trading in the cryptocurrency market intelligently.
Investment assets can be attractive if you approach the issue of trading in the cryptocurrency market intelligently. To do this, you need to know the main things:
- since Bitcoin dominates the market (62% of the market) the rate of other cryptocurrencies directly or indirectly depends on the rate of the largest project;
- it is important to pay attention to the capitalization of the cryptocurrencies, Ether occupies 16% of the market, and Binance Coin 2.57%, the higher the capitalization of the project, the more you can trust it;
- there is no way to avoid high risk, even with a detailed plan for investing in cryptocurrency, you can lose profits;
- Any normal cryptocurrency project should have: A White Paper, an open team warehouse, and a detailed roadmap.
Before you invest in Bitcoin or another coin, you need to decide on the strategy that is right for you. For example, earning on long-term investing, or short-term investing with lower yield but less risk, or trading in general (buying at the minimum price and selling at the peak growth period). It is important to remember that carelessness can lead to disastrous consequences – Losing a private key or a recovery phrase from your wallet permanently cuts off your access to your coin account.
