Should I invest in crypto now or wait for a crash before going in?
So far I've made about $200 (Could've made $600 lol) from Bitcoin, which looks like it's on the edge of crashing atm. I honestly think there won't be much potential in cryptocurrency anytime soon, but I am convinced there will be a need for it in the next few years, and it will hit the roof once again. I can't predict exactly which coin this will be though, but I'm petty sure it's not bitcoin.
Only invest money that you can afford to lose. This principle is the same as investing in stocks or any other investment vehicle.
If you haven't already, create accounts with (MFA enabled) on some of the popular exchanges so you can start buying and selling as soon as you are ready to buy on the dips. Setting up these accounts is not an over nite thing and they will require you to provide identifying information. If you want to try a route that doesn't require you divulging your identity, you'll have to do some research. Here is one link to get your started: https://www.buybitcoinworldwide.com/kb/b...cation-id/
In order to buy other cryptocurrencies, you'll usually need either bitcoin, litecoin, or ethereum to buy and sell. In other words, if you wanted to invest in Sia Coin (https://sia.tech/), you cannot just buy Sia Coin; you have to either mine it or buy it with bitcoin, litecoin, or ethereum).
There are many charlatans, (just like anything that involves money) that is promoting the next best coin. Do your homework and only invest in cryptocurrencies that you understand and have no problem if you lose all of your money.
Pay attention to transaction fees as well. Bitcoin is the most expensive and will especially matter if you start buying things with cryptocurrency. I've had cases where the product I wanted was $20 but the transaction fee was $15. Even conferences about Bitcoin have stopped accepting Bitcoin as payments because of problems like this: http://www.businessinsider.com/bitcoin-c...ion-2018-1
I hope this helps and good luck!
If you haven't already, create accounts with (MFA enabled) on some of the popular exchanges so you can start buying and selling as soon as you are ready to buy on the dips. Setting up these accounts is not an over nite thing and they will require you to provide identifying information. If you want to try a route that doesn't require you divulging your identity, you'll have to do some research. Here is one link to get your started: https://www.buybitcoinworldwide.com/kb/b...cation-id/
In order to buy other cryptocurrencies, you'll usually need either bitcoin, litecoin, or ethereum to buy and sell. In other words, if you wanted to invest in Sia Coin (https://sia.tech/), you cannot just buy Sia Coin; you have to either mine it or buy it with bitcoin, litecoin, or ethereum).
There are many charlatans, (just like anything that involves money) that is promoting the next best coin. Do your homework and only invest in cryptocurrencies that you understand and have no problem if you lose all of your money.
Pay attention to transaction fees as well. Bitcoin is the most expensive and will especially matter if you start buying things with cryptocurrency. I've had cases where the product I wanted was $20 but the transaction fee was $15. Even conferences about Bitcoin have stopped accepting Bitcoin as payments because of problems like this: http://www.businessinsider.com/bitcoin-c...ion-2018-1
I hope this helps and good luck!
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