Hello Im making this post for people that are interested in investing in crypto but have no idea were to start. First of all for people that tried researching coins, alt coins and tokens and don't know were to beging scroll to the seccond part of the post. For people that have been hearing about cryptocoins and have been meaning to invest this isnfor you. For starters before you even beging re-searching about different types of curencies you have to figure out what type of investor you will be. In crypto there are mainly 2 types of investors. Long term investor and Short term. A long term investor is a type of person that invests in alt-coins(alternative coins) to the mainstream coins that are Bitcoin, Ether , Litecoin and many others. Most of the times a long term investor finds pottential in small coins (meaning they have low-market value ). Investing in small coins could come with the risk of losing small anounts of money overtime due to most coins being startups or just simply not popular(usually long term investing is for people that do not want to invest a lot of money at once). A short term investor is someone that invests in fast growing coins for quick investments. For example someone that owns 3000 dollars(1.2k per ether) could invest in Etherium which means he will own 2.5 Etherium coins. Then after a few months etherium could gain 5x its passed value making the investor 12k dollars richer!Short term investing is usually for people that are willing to risk are well researched and have a lot of money to invest in big coins that their value changes rapidly( Bitcoin 16k-55k in 3 months).
Now that you figured what type of investor you will be we have to figure out what wallet you will be using. Wallets are apps or programs that allow you to store your coins safely. Wallets for investing in small coins are less secure and often times offer trading within the app. Some of the most famous wallets are Robinhoodx Binance ,Crypto.com. Wallets for specific coins for example etherium are far more secure and even offer you the option to save your crypto offline in a drive. Some of those wallets are MEW wallet for Etherium , Litewallet and Litecoin wallet for Litecoin, Bitcoin wallet from Bitcoin.com ,Exodus (A new wallet but very good) for bitcoin. A wallet that is both very secure and offers in app trades is Coinbase.
Lastly we will take a look at proper investing. There are a few terms that you will learn in order to describe the course of a coin but for now we wont get into that. In order to explain how to invest properly I should start with an example. You decided you want to invest in an alt-coin(ex. XCoin) but don't know for sure if you will gain anything from it. One XCoin is worth 0.005 and for the past 2 months it gain just +40% of its prices 2 months ago. For us to understand wether is a good investment or not we need to first look at the company purpose. This company offers a blockchain that their coin "lives" on that is faster and more secure meaning people will be able to trade coins and exhange them faster. We decide that we like the company's cause and move forward into investing. When you invest you have to see for big spike lines. If there is one than that means its not a good time to invest. The price will drop eventually due to a proccess we call correction and then the coin's price value will stablelize. Stablelizing means that the price of the coin will remain that high for a long period of time unless something happens within the company. If there are no spikes just a long like of the coin staying between 0.003 and 0.005 then we need to start re-searching. We have to understand the companys future plans or current events. If the company is ready to close a deal. That means the price of the coin will rise significally and would be a good time to invest. If the company got hacked or has bad reviews than you will be probably losing money. For coins that are not company based is the same process is just a lot harder to keep track the events.
Before closing I want to leave some personal notes that might help. I have made that much money my self from cyprto but I expirienced a lot of losses aswell as wins. If you Invest in small coins you should probably hold and no give more though come back to the app 3 years later and you will relise that you either lost 20 bucks or made 2000.
I hope some people find this useful if you have anything to correct me on or add your self please leave it in the comments
Good day!
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