The prices of the cryptocurrency are increasing at an accelerated rate this year and many investors are trying to capitalize on the cryptographic trend. Personally, I am one of them. My investment extends to more cryptocurrencies, the largest I currently have in Ethereum, which has increased 3600% since the beginning of this year. Another solid indicator of a promising future for this cryptocurrency is the fact that behind this currency are companies such as ING, Intel, Microsoft or JP Morgan. Astraleum is brilliant in a certain sense, not only is it a currency like Bitcoin, but it also provides a platform to create distributed applications (the so-called Dapps). This means that theoretically it can be created in the Astraleum platform application that automatically rewards people for their behavior in response to the ecological environment and its impact on it.
Requirements for Trade
Before you start investing your hard-earned money in other cryptocurrencies, consider the following:
- Research/ Investigate
Before opening a business, you should thoroughly investigate in what area you want to invest. The best place to start is the game’s announcement page. It shows all the important information you need to know: total amount, technical details. , Development Plans, Mission Statement, Community Speculation and more.
CoinMarketCap.com is another great source of information on how to see all the crypto parts listed and market details, history, etc. More information on cryptocurrencies are: Top Gold Forum and InvestOpen.com
It is strongly recommended to read the White Paper (generally available on the official website of the coin).
- Keep up to date
The news in the cryptographic world is spreading like a wild fire. With Twitter, Reddit, Telegram and a specific cryptography news page, you can always be up to date. Pay special attention to the messages on Twitter and make sure they come from reliable sources.
Learn to ignore biased sources and rumors. This is where pumping and emptying systems take place; People post wrong information on websites and expect people to fall in love with them.
Recently, the false death Vitalik Buterin (founder of Astraleum) began to spread from 4chans, which caused a fall in the prices of Astraleum and destroyed $ 4 billion of its market value.
Do not let these people have you; Get advice from reliable and unbiased sources and make your investment decisions accordingly.
- Set achievable goals
The cryptocurrency trade is not one of these fast and rich schemes. Define a realistic investment plan that can be 5%, 10% or 20%. Crypto market is very volatile. If you do not meet the expected results, you may panic and make mistakes.
As crypto-veterans say, setting long-term realistic goals (2 to 5 years) will take you far in the crypto trade. Certainly, do not take this as an investment recommendation, there are many special cryptographic currencies. It does not matter which cryptocurrency you choose.
- Buy tokens with a promising future and potential
Do your own research and discover the context of the cryptocurrency in which you want to invest. The number of people working on the project? Are they qualified? What are your future cryptocurrency plans? And other important issues must come into play.
- Waiting for the right time to enter a business.
If you want to make money with crypto investment, nothing is more important than buying cryptocurrency at the right time. Its price should be relatively low, so you can get as many coins as possible. On one hand, people want to buy into cryptocurrency, but on the other hand, they do not want to buy it when the price is trending. It may be interesting to create price benchmarks for which you are willing to buy the cryptographic currencies you have been looking for. Once you have it, simply click on the buy button.
- Earn money on the resale of cryptocurrencies.
Once you are in a business, you should think about the best time to sell. This could be before publishing important news that could cause the price to move towards a downward trend. Or, when investors increase the price too much and it pumps. Always ask yourself if the cryptocurrency can remain at this value or if it is a false sentiment.
- Do not follow the crowd.
I think it’s an obvious tip if you want to make money with the encryption trade. You do not want to be the one who follows the other merchants, but the one who shows the way. People who do not know what they are doing in the market are doing it and most of them are losing money. If you were like them, you would buy when the price was high and you would sell when it was low, which is, of course, total nonsense.
- Do not put all your money in a basket.
As with any other instrument, it is strongly recommended that you do not put all your money in a room. If you create a portfolio from multiple crypto-currencies, your chances of making money are much greater. Simply because it eliminates the risk when a cryptocurrency is broken. And it improves your chances when one or more wallet in which you do not invest shoot up.
- Keep a record of your trades
If you save your transactions, you will know exactly which parts are the most profitable and which reduce your profits. This essential information can help you improve the results of your business. Therefore, I recommend using an operations log where all the important information is recorded, such as the entry price, the exit price, the tariffs, etc.