Barely a week on this wonderful platform, a kind hearted user tipped me a $100 last week, I couldn't contain the joy, if asked I will say that's the biggest gift, anyone has ever given me. Thank you sir @MarcDeMesel may your supply never run dry, More investments for you. Am so excited.
Since have been tipped, my next goal is to invest, I don't want to act like the foolish servant in the Bible, so one day I will also be able to tipped others like our patrons here.
Why I Need To Invest In Bitcoin Cash
Daily new investors are Introduced into the cryptocurrency trades, though the rise and fall of the currency cannot be predicted accurately. However, those enthusiasts who believe in the growth of the Bitcoin cash rate in the future are making profits now.
The number of users who have linked their business with Bitcoin Cash is growing.
This article is aimed at giving a review to beginners about investing in Bitcoin Cash.
Advantages of Bitcoin Cash as an investment Tool
1. Freedom of action: only the owner of the wallet controls all operations with assets.
2. Few requirements: no special knowledge or extra effort required.
3. Decentralization: the state does not have the ability to control cryptocurrency.
4. Availability.
5. It is a transactional Cryptocurrency : It offers its user the privilege of low fee transfer fee to other users.
6. It handles more transaction blocks than its counterpart Bitcoin.
Cryptocurrency Investments Strategies
When deciding on investing in digital assets for yourself, it is worth deciding on the right strategy.
1. Long-term investment
A very simple strategy called “buy and forget”. A person buys a certain amount of cryptocurrency and then waits for its price to rise. And as soon as it reaches the level that the investor has determined for himself, he can sell it.
TIP! So that such an investment plan does not turn out to be unprofitable, you should invest free funds. Otherwise, if you need money, you could run into a loss because of their low price in a certain period.
2. Short-term investments
This option is relevant for those who do not want to wait any significant time for a large return on investment. The strategy is divided into two stages: first, you need to prepare the capital and break it into parts in order to then acquire cryptocurrency with it at a certain period of time. Then, if the price for it falls, then this should be used to buy new coins.
3. Trading
For the most part, this option is not really about investment as it takes a lot of effort.
However, this is a possible option for investing in cryptocurrency which can be useful for beginners.
Trading is buying and selling cryptocurrency, the profit from which boils down to the usual resale ( buy at a cheaper price and sell at a higher price).
But here you will need constant information from the news, the rate of the cryptocurrency on the market, as well as over the economy as a whole.
Where to invest in Bitcoin Cash ?
There are many services for storing and buying Bitcoin cash. And in order not to be mistaken and make the right choice, this issue should also be given attention.
Conventionally, all services for working with cryptocurrency can be divided into two camps: decentralized and centralized. Their difference lies in the control over cryptocurrency transactions.
Decentralized services mean complete freedom and independence in performing any operations, as well as storing cryptocurrency. The most popular examples of such services are crypto wallets.
Another option is centralized services.
In short, they can be called intermediaries, since they perform some operations already on behalf of the user. Examples of such services are crypto exchanges and exchanges.
In any case, the choice of service always depends on the intended investment strategy. For example, when trading, decentralized services are ideal. And for long-term investments, crypto wallets are suitable.
Thus, of all the above strategies, it is long-term investment that involves low.
Bitcoin Cash Investment Tips for Beginners
To successfully trade crypto assets, you will need to learn simple skills and knowledge. For example:
i. Be able to use quotes and various charts.
ii. Conclude purchasing and selling deals at the right time.
iii. Competently approach the choice of cryptocurrency for investment. for example for example Bitcoin Cash.
iv. If the budget does not allow you to swing at large cryptocurrencies, then any other digital currency is suitable for starting.
v. Follow the outlined plan and strategy.
vi. Take note of choosing a reliable service for cryptocurrency transactions, I will suggest you go with Bitcoin Cash (just an opinio).
vi. Follow the news and the cryptocurrency market.
vi. Always keep in mind the possible risks and take a sober approach to any issue related to investments.
vii. Analyze trading history.
viii. Understand the basic metrics of assets.
ix. Track the sales of an asset.
How To Purchase Bitcoin Cash
1. The traditional way of acquiring cryptocurrencies is an electronic wallet, access to which only the copyright holder has ( scammers will not be able to hack it ) even if the service on which it is located shares data. You can also conduct transactions with digital currencies on special exchanges, where you get several wallets at once for smooth operations. Wallets on exchanges are hacked regularly, so storing large amounts of money is a big risk.
2. Peer to Peer (P2P) : There are exchanges through which you can buy Bitcoin cash for money from other users. This type of service usually has a good rate. The operation is easy to perform with a Sberbank or any other bank card. The whole process looks like this:
i. The buyer chooses a seller, on whose account a certain amount of Bitcoin Cash is contained.
ii. The card number appears, to which the transfer is made.
iii. After the payment is made, the seller confirms the receipt of money, the Bitcoin Cash is released to the buyer.
3. Through mining sites and other sites were cryptocurrency are used in payment for tasks performed. Example is read.cash and noise.cash.
N/B : Whatever you chooses to do, always remember there is no investment without a risk, we are aware of how volatile cryptocurrency is this days, please invest only that you can afford to lose or gain.
Thank you once again @MarcDeMesel
My greatest wish now is for @TheRandomRewarder to notice my posts.
Wow man congratulations on that tip! That is quite something. I like your article as well, so keep it up!