From 1% to 1200% ROI on cryptocurrency earnings
From 1% to 1200% ROI on cryptocurrency earnings or 5 important things to pay attention to when you invest
I know all of you are wondering should I invest in cryptocurrency?
The short answer is: yes, definitely. Cryptocurrency is probably the best investing opportunity of our generation it usually offers far better ROI than traditional investment vehicles, such as stocks, options, and futures.
You may ask - “but how about bank interest?” - and while keeping your fiat money on your bank account is relatively safe, it’s not a real investment.
Instead, more of a way to keep your money inflation-free, in most cases you won’t really earn anything from doing so.
You will rather just prevent your money from losing value due to inflation, that’s all.
Get rich fast?
There is no shortcut to becoming a rich person, but if you truly want to multiply your wealth then investing money is the way to do so.
However, you will have to keep in mind, that every investment opportunity has a certain amount of risk associated with it. Investing in cryptocurrency is no different.
Mainly because you use your fiat money to buy coins/tokens and if the coin of your choice is not performing well then you may lose part of your initial capital due to crypto price volatility.
In general, investing in cryptocurrency today is like investing in an early-stage startup, with huge potential comes some risk. Why bother with cryptocurrency investing then?
Because it can generate profit like no other investment vehicle out there, easy to say that the ROI (Return of Investment) according to in-depth analysis of DataLight over time since August 2017 until 2019 of Bitcoin, the most popular crypto, is winning against some of the best-performing stocks on the US stock market, including Amazon, Tencent, JP Morgan, Facebook, Google and more. Just to be more graphic about it, if you would invest and buy 1000 USD in Bitcoin on 10/20/2016 you will achieve a total return of 1200% today, with over 13000 USD in a pocket.
Potentially investing in altcoins can generate you a profit of a similar level, but you will need to remember it’s best to be as prepared as possible. In this article, I’ll give you the necessary five tips to help reach your destination in the world of cryptocurrency investing.
1. Perform your due diligence
Before investing, do your homework and find out more about the coins you want to buy. Try reading everything you can find about different cryptocurrencies, their trade-offs and the challenges they and their market face.
Cryptocurrencies have a tendency to be extremely speculative assets, and only investors who can tolerate the risk should expose themselves to it. This risk can be greatly mitigated by choosing only solid and promising crypto projects.
Almost every single coin has easily accessible whitepapers online. If you cannot find out how the coin operates and more importantly, makes money, then it would be wise to seek another investment opportunity.
2. Don't place all your crypto in one basket
Diversification is a key – this is standard for every type of investment, not only cryptocurrency related. If your research is done then you should be ready to seize the opportunity to invest in multiple coins.
Perhaps, you can invest in coins from different sectors that serve different use cases.
Most of the projects in this crypto space might not exist in ten years from now, that's just the nature of innovation when it's an early-stage industry. By choosing multiple coins for your investment portfolio you are covered and all you need to do is wait and be surprised at how the market continues to grow.
3. Ignore the ‘noise’
Don’t listen to the naysayers, crypto haters or people who don’t know what cryptocurrency is, yet they are usually the first to state their opinion on the subject.
Cryptocurrency is here to stay, it’s not simply a fad or over-hyped speculation. Day by day growing user base of crypto users is adding financial value by building a network, and by enabling practical applications of cryptocurrency assets.
The noise level is not going to stop, but it will increase. The best action is to do your own research, buy crypto and invest while ignoring all the noise around you.
4. Avoid bad investment opportunities
Don’t follow anyone or any service which promises you 100% risk-free investment where you can earn thousands of dollars weekly, offers you inside information or unique tips, don’t join a ‘pump and dump’ groups, don’t follows a guru.
It’s better to have a stable and secure service which helps you in your investments and coin management, than to be sorry later with poor service, or in the worst-case scenario, a scammy one.
5. Focus on investing in a passive way of earning crypto dividends
Time is money, and easy the most valuable thing a man can spend. Your main goal should be always be building a way to obtain steady streams of passive income which will maintain themselves, bringing you constant revenue without much effort on your part.
With solid passive income streams added to your investment portfolio you will increase your earning and accelerate your financial goals tremendously.
With the inception of Proof-of-Stake cryptocurrencies another way of obtaining steady passive income has opened. Now you may stake coins, effectively earning more, as opposed to Proof-of-Work coins where you only hold coins and simply wait for the price to get higher, but not increasing the number of your coins in the process.
What is more, automated staking pools, such as www.mycointainer.com effectively remove all obstacles of staking, for example: you don’t have to have computers or other devices running at all times, which translates to fewer costs spent on energy, and zero hassle linked to hardware and software maintenance.
Hopefully, these five tips will help you to understand a bit more about cryptocurrency investments and the idea behind it.
Are you looking for more tips or information about general cryptocurrency news, guides strategies or other interesting subjects linked to the cryptocurrency, fintech, new technologies, trading space, crypto investments? Visit MyCointainer Platform also feel free to sign up for our Community so we can make impact together.
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MyCointainer community and I remain at your service if you have any questions
See you soon
Christophe WILHELM
Published with the agreement of MyCointainer
Credits photo : https://www.mycointainer.com/
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