25.09.2020
The market for digital currencies is quite volatile, so you can get rich quickly and go broke just as quickly with new money. Cryptocurrencies are already of interest to people who were not previously associated with them, so a completely logical question arises - which coins to buy to enter the market. Now it is much easier to enter the market than before: dubious projects have failed, the cryptocurrency exchange rate has stabilized a little, regulators have formed a certain approach to work with the industry, and the crypto world has become more understandable.
If you decide to invest in altcoins, then it is better to pay attention to coins with not the highest volatility, but high liquidity (for example, Ethereum, IOTA, XRP and BNB). You should definitely not succumb to the hype and fear of FOMO - without a clear plan, actions on the exchange will not be consistent. Experts advise choosing altcoins only on your own blockchain and with an idea that brings value to the world. Altcoins are often backed by businesses, so they have the ability to grow naturally.
Decide for yourself what purpose cryptocurrencies are purchased for and for how long. If it is important for you to create savings, perhaps Bitcoin is best suited for this, because it is not for nothing that the first cryptocurrency is called digital gold. In addition, large market participants are showing interest in the forefather of cryptocurrencies.
Among experts, the most common recommendation is to observe the proportion of investments in bitcoin - 40%, in Ethereum - 40% and 20% for other cryptocurrencies, for example, exchange ones.
Some analysts are concerned about excessive optimism about bitcoin and warn that predictions of growth from every angle may be wrong, and bitcoin has not seen a real bottom at all. In the financial world, succumbing to the mood of the "crowd" is not the best strategy. For those who do not expect a quick profit, the “hodl” of the currency, despite the price fluctuations, can be quite profitable. But, if an investor can afford risk and monitors market trends, he needs to create a diversified portfolio and adjust it depending on the situation. There are many indicators to consider when choosing coins for investment. Popular rating platforms for cryptocurrency analysis will help with this. As a general advice, we present what you need to pay attention to:
- place of cryptocurrency in the rating by capitalization (not lower than TOP-30);
- cost-it is likely that cheap coins will become more expensive over time;
- the number of coins issued, how many can be and are planned to be issued;
- volatility;
- availability of coins in exchange listings;
- recent rate changes - it is more profitable to buy cryptocurrency during a fall in the exchange rate, and if the rate has grown rapidly, refrain from the transaction;
- discussion of the coin on forums and social networks - if people have lost interest in the coin, it is better to stay away from it.
If you are wondering where to buy cryptocurrency, check out the courses on Buycoin.online.
Here you can exchange cryptocurrency in just a few minutes. Don't forget to install a reliable cryptocurrency wallet before making a purchase.Remember that investing in cryptocurrency cannot guarantee a profit and requires competent diversification to hedge risks.
