As someone who’s been in the digital marketing industry for over a decade, I have helped all types of online businesses sell their surplus advertising inventory, using direct response promotion. In doing so, I strongly encourage the online advertising community to embrace cryptocurrencies, like Bitcoin, Litecoin and Ethereum, because the sector can benefit from this technology and play a key part in supporting it. If you are here because you have made up your mind to invest in cryptocurrencies, you are at the right place because today, I am very happy share the following tips that will help all cryptocurrency investors:
Tip 1 — Don’t use a broker, opt for an exchange instead
This way, you will avoid having to pay large fees. For instance, do your buying and selling on GDAX, rather than Coinbase.
Tip 2 — Be prepared for anything to happen
The crypto markets are extremely volatile, with massive swings in price that usually don’t occur in conventional markets. You should be mentally ready for these sometimes frightening events, so you will not panic and remain clear headed if the price crashes unexpectedly.
Tip 3 — Expand your horizons beyond bitcoin
You will limit your profit potential, if you only focus on one type of cryptocurrency, because the demand for these coins is always changing. As well as purchasing Bitcoin, it is wise to get hold of some other cryptocurrencies, like BNB (Binance Coin), Litecoin, BAT (Basic Attention Token) and Ethereum. Experienced investors should purchase XMR (Monero), NEXO, Beam, ADA (Cardano) and NEO.
Tip 4 — Use laddering when buying and selling
This means setting incremental sell or buy orders, rather than just selling or buying coins in one go. This way, you can buy when prices fall and sell once they rise. Averaging and laddering reduces the chance that you will mistime the erratic and complicated crypto markets.
Tip 5 — Do your homework
You should never invest in a crypto token, without understanding what it is used for. Virtually all coins have online whitepapers, which are available from websites like All Crypto Whitepapers. Shrewd investors should perform due diligence, just like experienced travelers don’t leave home without a map. If you can not determine how the token works and will make a profit, it is best to look elsewhere for an opportunity to invest.
Tip 6 — Think about the time you have available for trading and investing
Similar to a regular job, crypto investing puts demands on your time, because the markets are always evolving. If you do not have enough spare time to do much trading and investing, it is wise to opt for low risk tokens and coins. Also, you should limit the number of investments you make, if you can not monitor your portfolio frequently.
Tip 7 — Keep your passwords or private keys private
To receive tokens, you have to reveal your public wallet address, however do not tell anyone what your passwords or private keys are. Better still, you should store your private key and password information offline, so hackers can not access it.