Cryptocurrency Market Is Booming. Should You Join?

With the crypto market rapidly expanding, there are hundreds of new investing opportunities to explore for established and beginner investors. And many regular professionals, workers and individuals are beginning ask themselves if they should seriously consider learning what the rave is all about. This analysis is meant to provide some answers to your initial questions as you consider crypto trading. If you have never invested in crypto before, there are several things you should consider. When you begin investing in blockchain cryptocurrencies, you should make sure to be aware of the benefits, risks, and the best ways to start investing. Luckily, we have prepared a list of the benefits, risks, and top investment strategies for you, so that you will be completely prepared for your investment journey into crypto world.

If you think that you must first understand the technology behind blockchain and smart contracts before investing in cryptocurrency, then you must read this welcome message right on the homepage. You probably do not know the technical details about how the Feds print money, yet, you use and make money daily! So, get on with it and learn how to earn big with cryptocurrencies.

First, What Are the Benefits?

When you choose to invest in crypto, there are a wide range of benefits that will come along with your decision. As you take up blockchain crypto investing, you should know the biggest benefits available to you so that you won’t miss out on great opportunities to grow. There are major benefits in choosing crypto over your traditional investments that will prove to help you expand your financial freedom. Let’s get into them now.

Potential Millionaire-maker: Bitcoin Millionaires

Cryptocurrency trading is a new form of investment with significant potential for growth into the future. That means that the right crypto investments now have the potential to bring in huge returns. Some crypto coins have seen growth of up to 3,000% in the last three years alone. For sure, crypto trading has the potential to make you one of the many new crypto-minted millionaires but it is also fraught with significant risks. More on the risks shortly. In fact, the number of billionaire crypto investors is growing by the day!

Always Accessible

One of the largest downfalls of the stock exchange is that it is closed for more time than it is open. The exchange opens in the morning and closes in the middle of the afternoon, giving investors only a short amount of time to make trades. In addition, the market is closed every weekend and holiday, severely limiting the market’s potential. Crypto market on the other hand is always open, whether it is two in the afternoon, or two in the morning. You will never have problems finding a time to trade cryptocurrency, meaning that you will have vastly more opportunities to make money with the currency. Having the ability to always track the crypto market and trade the currency as new opportunities arise will significantly increase your investing capabilities, giving you more time to practice and make profit.

Better Control

When you trade crypto, you will have complete control over your investments. You don’t have to worry about your information being thrown out into the internet to be used and stolen, and you will have the security of knowing exactly what is going on with your account. When you make a trade, no private information is listed anywhere, as blockchain cryptocurrencies will keep all users anonymous when they make a trade. This acts as an extra benefit as there will be no data on what type of users are exchanging the crypto, so that nobody will know whether a common person or a billionaire is exchanging currencies. With standard investments, anytime a billionaire trades a stock, every person will know, and the stock will instantly jump or drop in price. Keeping everyone anonymous keeps volatility from these events extremely low, if it even exists, allowing for easier access to exchange for all users.

Ability To Make Payments

Unlike most traditional investments, you can make payments using crypto currency. Anyone can send or receive bitcoin without any restrictions or limitations holding them back. When you invest in crypto, you allow yourself the ability to make payments with your new currency to any business or person that accepts it as a form of payment. The ability to pay and be paid with your crypto is invaluable, giving you more control over your currency than ever. In addition, many crypto exchanges allow dollar-denominated transfers for trading.

The Future of Money

Many people believe that cryptocurrencies and digital currencies are the future of our financial systems. These digital wallets are here to stay. The government is figuring out ways to get in on the action, regulate things better and get more tax revenue from the sector. But this technology is here to stay and would probably define the future of exchange. Learning how this works now and getting in on the action is probably the wise plan of action.

So, What Are the Risks?

When you invest into crypto, you will also take on several risks that you wouldn’t have to take on during traditional investments like stocks. It is imperative that you are well acquainted with the risks of buying into cryptocurrency so that you know how to avoid these dangers. Here is a list of the biggest risks associated with crypto.

High Volatility

Unlike most stocks, crypto can be extremely volatile. When investing in crypto you will notice huge price gains and drops in the span of a few hours, meaning that you will have to stay on top of your investments. Crypto can easily double or halve in price in the span of a couple days, so it will be extremely important that you never leave your investment sitting without monitoring it. Make sure that you take precautions when trading to avoid losing your entire position to random volatility and that you watch your buy-in price to avoid jumping in at the worst moment possible. This high volatility means that you could make a lot of money within a relatively short time, but it also means that you can lose a lot of money with a short time too.

Hard To Follow and Monitor

Another significant drawback to crypto is that it can be extremely hard to follow. Investors who have dedicated years to train and study the crypto market will have a better sense of the best indicators to follow, but as a beginner you may feel lost as the market moves back and forth. Make sure that you take time to slowly begin investing, so that you don’t push too hard and lose your account. It is important to take time to learn the ways of the crypto market before fully investing into it, so that you can learn the best ways of navigating its tricky patterns and trends. Many new investors have found the simple and clear guides written by AlphaFinance analysts to be helpful. Some individuals also claim to find the video guides very helpful learning tools.

Some May Lack Real-world Value

While a good number of Blockchain cryptocurrencies have important applications in real life, some of the newer crypto coins, like the so-called meme coins, may lack real-world value. When you invest into crypto, you are taking on the risk of the currency potentially becoming worthless if it is not backed by business and real-world applications. For such crypto coins, if investors were to simply give up on the idea, then, there would be no backing to its price and the currency would almost instantly go out of existence. Therefore, you must research the safest and most trusted cryptocurrencies with real-world applications or significant storage value before investing.

How Do You Get Started Investing in Crypto?

If the potential for huge profits is too high to ignore and you choose to dive in, here are a few ways to get started: Start with a small investment As a beginner, don’t put in more money in crypto than you can afford to lose. Crypto investing could be highly profitable, but it is also very volatile. The risks are real.

Learn the Basics

To succeed in this highly volatile world, you must learn the basics first. That is why a news and strategy site like AlphaFinance.News is invaluable to you. It's free. All you have to do is subscribe and you get occasional trading advice and tips to help you succeed. We are also constantly looking out for very good training platforms for beginners. After reviewing several investment 101 and trading trainings, our analysts recommended this one training platform that they believe gives you the best chance at getting started with the important basics. Click here to read the analysis first before getting started with crypto investing.

Choosing the Right Crypto Trading Platform

Not all crypto trading platforms are born equal. You need a safe and reliable trading platform. There may be many exchanges, but did you know that some of the exchanges are not even legal for United States citizens and residents to use? This analyst has put together a carefully curated list of the best crypto trading platforms open to US residents. All these crypto exchanging platforms offer great services that will allow beginners to learn in a friendly environment. The fees that these brokerage charges are miniscule, ensuring that you will make the most out of every trade. A few of the platforms covered in that report include and you may click on the name of each to be taken directly to their platform: Coinbase, Binance.US, Crypto.com App (a lot easier on your mobile), SoFi, and eToro. That is certainly a good place to begin. But you must do your own research and be fully prepared.

Choosing the Right Crypto Coin to Buy & Sell

Your success in crypto investing, just like traditional stocks, comes right back to which coins or tokens you invest in and when. As noted above, there are many crypto coins and tokens in the market, and new ones are emerging daily. You have to be very selective. Some new coins may have the allure of quick and dramatic gains, if the market moves in their favor, but should you take the risk? One AlphaFinance analyst has done an extensive research and suggests top 7 cryptocurrencies to consider, based on market capitalization, real-world applications, safety, and potential for long-term growth. While that report is certainly an important starting point, you must do your own research and develop your own list.

Assess Your Risk Tolerance

Some people relish the risk and potential huge benefits involved in crypto trading., other people may find that level of risk and volatility too much to handle. You have to be brutally honest with yourself about your level of risk tolerance. The common cliché is still true, “no risk, no gain,” but if that means developing high blood pressure or hypertension, then, it’s probably not worth it for you.

Crypto Mining is Also an Option

An alternative method to trading crypto is to start mining it. The advantage is that you will not need to put up capital that may be potentially lost in the market. Also, depending on the crypto coin, mining could make you a lot of money. However, the downside is that it costs a great deal of cash to begin mining the cryptocurrency. Why? You must buy the right mining equipment and cough out significantly cash for monthly electricity bills. Yet, a lot of people are making a lot of money doing crypto mining. If that is of interest to you, check out the video guides. Still, if you are new to the game, it is probably best to simply trade the currency, as you will not have to worry about creating a setup capable of efficiently mining the coin.

In Conclusion

The crypto market presents huge investment opportunities to new and established investors. But the risks are also high. Take the time to learn the basics. Take advantage of careful and deliberate analyses and training like the ones provided by AlphaFinance and other reputable platforms. This will help you make the right choice when it comes to the right crypto coin or exchange. If you want to begin investing in crypto, you should learn the basics and then create an account on one of the safer platforms. Happy investing.

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