Crypto is becoming an investment object that is increasingly in demand. As a new instrument, some surprising phenomena still occur frequently. In order not to be deceived and suffer losses, do the following correct crypto investment method.
6 Ways to Invest in Crypto
Crypto investment is basically done by buying and selling crypto coin assets. However, because you have to go through the flow of conversion from fiat money to crypto currency or vice versa, there are a number of things that must be considered. The following is the order of the process when you make a crypto investment:
Specify an exchange to open a crypto account. Make sure to choose an exchanger that has been officially registered with Bappebti.
Enter funds or deposit. This is done using fiat money, digital money, or certain crypto coins. Funds deposited from a bank, digital wallet or free coin account can then be used to buy assets.
Buy crypto coins. Choose coins that were in the top 5 at the time, such as Bitcoin and Ethereum.
Deposit assets and perform crypto analysis. Understand how the market moves, especially in the assets you buy.
This analysis can be done before purchasing your first coin. However, if you buy a coin that is in the top 5, usually nothing bad will happen.
Start an asset sale and purchase transaction. After doing the analysis, you can add crypto assets or sell the ones you already have. Don’t buy my cheap coin cassettes, but choose assets that have a high increase even though the price is high.
Make a withdrawal or withdrawal of funds. At the right time, you can convert crypto coin assets into fiat money again, for example rupiah or dollars. Furthermore, the money can be withdrawn through the same digital wallet as the digital wallet that was used to make the deposit.
Where Can You Buy Crypto?
There are several platforms that serve the purchase of crypto assets. Make sure to buy assets from platforms that are legal and have high popularity. Some platforms commonly used are:
What is the Minimum Investment in Crypto?
Every platform that serves crypto coin purchases applies a minimum asset purchase limit. To be sure, you don’t need to buy 1 whole coin or 1 unit of crypto coin. You can buy crypto coins in parts, for example 0.00005 Bitcoin.
What Are the Types of Crypto Coins?
Types of crypto coins in various countries continue to grow, including in Indonesia. Until now, the number is estimated there are about 10 thousand species. However, only a few crypto coins have stable value and are good for investment.
Some of the types of crypto coins that you can choose to invest in are:
- Shiba Inu
Bitcoin is the most popular type of cryptocurrency today. In fact, up to now as much as 68% of crypto coins spread around the world are of the Bitcoin type. This type of cryptocurrency was first introduced by an entity named Satoshi Nakamoto in 2009.
Some uses of Bitcoin that do not agree with the rules made finally form their own type of crypto coin called Bitcoin Cash. This type of cryptocurrency was launched in 2017 and claims to be better than Bitcoin, even though its popularity cannot be matched.
As the name suggests, this type of crypto coin allows asset owners to make transactions faster without using sophisticated equipment. This type of crypto money emerged in 2011 from a type of digital currency that changes using the blockchain system.
The Feathercoin crypto coin was founded by an IT expert named Peter Bushnell in 2013. Almost similar to Litecoin, Feathercoin is one of the cryptocurrencies that implement open source properties.
The dog mascot used may look like a joke. However, Dogecoin does have a price. This type of story money is usually used for small transactions.
Ethereum or also called ETH is a type of crypto money which is also a platform for several other crypto coins. This is because Ethereum is a decentralized open source block chain.
One of the new coins that is predicted to have good potential is the Shiba Inu. Since appearing in 2020, this crypto coin has entered the choice of investors.
Crypto Investment Tips
Even though it is classified as a new style in money management, crypto investment cannot be done haphazardly. There are several strategies that must be carried out in seeking profits from crypto transactions. Here are various crypto coin investment tips for novice investors.
Thorough in chooses a crypto coin and platform. Avoid new crypto coins that have too fantastic profit potential. The reason is that cases of crypto coin fraud are not uncommon in the world.
Understand and manage your own risk.
Do not invest in crypto just because it is influenced by trends, but adjust it with risk. This will also help in determining which coins to buy.
For long term investment. Don’t be easily provoked by price fluctuations over a period of days or months.
Choose some crypto coins. Spreading assets into several types of crypto is far more profitable than investing large amounts of capital in one type of crypto. That’s because an increase in the price of a crypto coin does not affect other crypto coins
Becareful using trading robots. To this day, there is no investment robot that can really work efficiently. Therefore, market readings must be done manually by each investor.
It must be understood that crypto investment has no small risk. An example of a very significant price drop phenomenon recently occurred in the Terra Luna cryptocurrency. The price fell 99% in a matter of days.
If you want to be safer, you can try money management alternatives, one of which is funding through peer-to-peer lending. People’s capital is a peer-to-peer lending fintech that provides more stable returns to lenders. By becoming a lender at People’s Capital, you will get a profit of 18% of your capital annually.