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Simple Ways Of Investing In Cryptocurrencies Without Risking Much - Investment - Nairaland

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Simple Ways Of Investing In Cryptocurrencies Without Risking Much by elidi(m): 4:49am On May 03, 2018
Cryptocurrency as a decentralized system of electronic cash has drastically changed our traditional way of investing, payment and attracting capital. We have also seen the price of Bitcoin increased by 1,000 percent from 1 BTC at $1,000 to $20,000 within the same year. This increased growth instigated many to invest in Bitcoin. Currently, both novice investors and hedge funds are doing all that is possible to get huge profits.
In view of this, do you think Bitcoin is a good investment option in this second quarter of the year? Here are 4 important things to consider when investing in cryptocurrencies.

Market Outlook


Presently, the analysis of Bitcoin price is much more than the food you eat. Economists throughout the world argue that this occurrence isn’t like anything in the past. Certainly, Bitcoin for some time concealed even the dot-com bubble in 2000. This statement is agreed by market experts, who are falling into frenzies concerning the impending risk of the financial end of the world. Nevertheless, industry players see a brighter future. This is attributed to the market value of the main cryptocurrencies, for which nothing is impossible.
Moreover, it is imperative to be conscious of security. One serious problem faced by cryptocurrencies is the issue of data security. In recent years, we have experienced hackers carried out various attacks on exchanges, which has led to the loss of digital assets valued millions of dollars. Recently, Verge suffered an attack when an unknown hacker took advantage of a bug in Verge cryptocurrency network code to mine the Verge coins. This happened over a period of 3 hours. Nevertheless, the Verge team responded swiftly by activating an “accidental Hard Fork” in response to the hack, which was meant to be a fix carried out by Verge. In spite of these challenges faced by Verge, the price of Verge remains positive with an upside momentum.
For safety purpose, it is better to use a cold wallet because it allows you to have control over your private keys. Besides this, it allows the safe access of your coins in the blockchain. The market isn’t stable and technologies are poorly tested. However, this is a way of investing in cryptocurrencies for anyone looking for a great opportunity.

The growth of the Blockchain technologies

Blockchain permits the use of its own technology and develops new business models completely. This method has revolutionized the way of increasing the worth of startups. A number of platforms allow companies to create their independent blockchain apps quickly and without any charge. However, it is important to consider technical difficulties. It is not easy to understand the story that cryptocurrencies is purely digital when it has to do with investing in cryptocurrencies. Considering the fact that it is an electronic asset, there is every likelihood of it facing technical difficulties. Bearing in mind the exchange congestion and level of the market, the selling, buying, and exchanging processes reduces significantly. When there is network congestion, the purpose of withdrawing and crediting funds for some tokens tend to be unavailable. In this scenario, you either transfer or sell your coins because you are under the influence of one or another exchange.

Cryptocurrency Pathway

For most investors, cryptocurrencies may be the best investment opportunity. Traditionally, the monopoly of on investment belongs to private angel investors and venture capital funds. Today, cryptocurrency has become a gateway, which opens the way for everyone who desires to invest in teams and advanced world technologies.
However, you must put into consideration the inexperienced teams. Every cryptocurrency is a startup, which either solves a particular product or solves a problem. While cryptocurrency may be a new phenomenon, there are teams without adequate knowledge and experience in this particular area.
On the contrary, the absence of a proper management system to any startup foretell the failure of the entire project.

Getting involved in the Blockchain Community


Blockchain investors have organized a community in Telegram for daily communication. Huge investments in startup technology companies can be synchronized within minutes whereas, for the traditional venture, it could take months to process. While it provides an avenue for cryptocurrency lovers to participate in various community, it is imperative to be on the watch of crazy community.
Perhaps you are a new investor; you must consider that your money will be stuck for years. Investing in cryptocurrencies isn’t easy; it is a place where your investments are relatively liquid. Cryptocurrencies enable you to buy and sell in real time situation.
See source for more.

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