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You've probably already asked yourself some of the following questions: is it too late to start? Has the Bitcoin bubble really exploded? What are the chances of being successful? What are the best tips to follow? We are going to answer all these and give you some tips that will surely help you in your effort.
We are sure that you have noticed that the prolonged bear market cryptocurrencies were dealt with last year, with November 2018 the worst month for Bitcoin since 2011. So, despite the recent significant drops, cryptocurrencies are far from being finished, and certainly not the right time to stop investing. In fact, the SharesPost security platform reported that 72% of cryptocurrency investors are planning to buy more holdings in the coming year. More and more online stores and casinos accept payments in these virtual currencies and this makes everyone really happy.
To make sure you have a good start in your adventure, be sure to:
follow your instinct
In the world of cryptocurrencies, 2 voices are heard on everything else. The media along with some financial sectors that preach about the negative effects of digital currencies and the population that has embraced the financial perspectives and practical applications of virtual currencies. Instead of allowing any of these parts to influence you, do your research and create the best strategy for yourself and your goals. There is no recipe suitable for everyone's needs.
Expect the unexpected to happen
The significant volatility that exists in the cryptocurrency markets can not be ignored. Experienced investors are used to huge price changes. This type of oscillations is rarely encountered in traditional markets. Mentally preparing for these unfavorable investment performance, the intelligent crypto-investor will be able to act rationally rather than emotionally in times of unforeseen price declines.
Opt for an alternative email account
The use of a normal e-mail account places an investor, regardless of the level of experience, at a useless risk of exposure for a data breach. To overcome the possibility of something negative happening, it is advisable to create a unique account for trading only, in particular with the addition of two-factor authentication password security.
No matter what, make sure that two-factor authentication is used for every service for which you are using e-mail. Also, when you set up your accounts, be sure to select a unique username and password that does not have any personally identifiable information. In this way, you avoid the possibility for potential hackers to trace the information to you.
Avoid keeping your digital currency on mobile wallets
Storing or exchanging large amounts of any type of cryptocurrency, by mobile phone is simply too big a risk. Mobile phones run a higher risk of being compromised electronically or physically. Although they may be cheaper, this should not overcome security issues.
Becoming a cryptocurrency investor is a difficult path that comes with many. I hope these tips will help you get started, gain more confidence in yourself and create your own strategy for success.
