Surely you have heard about the cryptocurrency boom in recent months, that Bitcoin has reached its all-time high, that there are other currencies whose growth percentage is even higher… and you want to immerse yourself in the world of cryptocurrencies, but you don’t know exactly how to do it or have doubts as to whether, still in 2023, it is profitable to invest in cryptocurrencies.
The answer is clear: it is not too late to invest in cryptos, although you should keep in mind that it is a market that can bring great benefits but is also very volatile. Therefore, it is not easy to know when the best time is, so it will be good for you to use a service like Coinhouse, which we will talk about in this article. It is also recommended to have some knowledge about the market and be able to anticipate movements and trends that may occur in the future to have guarantees of success.
But do not worry, whether you want to start in the world of cryptocurrencies or if you are already a small investor, we are going to give you a series of tips in this article that will help you to carry out your operations in a more comfortable and safe way, enjoying Thus, the exercise of investing and familiarizing yourself with the thriving crypto environment without major problems. They would be the following:
-Choose well where to invest in cryptocurrencies
Selecting the best gateway to the world of cryptocurrencies is essential for any new investor and also for those who are already experienced. It is the first question that anyone asks: where can I invest in cryptos?
You have to choose a tool that makes things easy for you and provides you with all the guarantees. For example, to buy, store and sell Bitcoins, Ethereum, Dogecoin…. And up to 48 digital assets, we recommend that you open an account by registering on the Coinhouse website, the first cryptobank in Europe, which was founded in 2015 and has been operating strongly in Spain since last year.
Its objective is to democratize access to cryptocurrencies and it is, without a doubt, the ideal gateway for anyone who wants to operate with cryptocurrencies easily and with guarantees. It has a multilingual app, which you can use on both iOS and Android devices, personalized customer service, provides asset portfolios, and creates new methods for both individuals and investors to interact with decentralized financial services.
In addition, Coinhouse -which has more than 350,000 clients- accompanies you throughout the investment process, so that you do not have any problem when investing with your cryptocurrencies, with transparency and simplicity. It is a free platform, you only have to open an account by registering on its website, but it also has an account for the most experienced investors with Premium and Platinum services with access to exclusive information, complementary services and reduced commissions.
-Do not invest more than you can afford
This is the most basic advice for any investor. Do not expect to earn a lot of money, making a very large investment, spending money that you cannot afford to sell just because you try to increase your profits at all costs.
The speculative mentality is a bad adviser. Keep in mind that the cryptocurrency market is very volatile, so it is advisable to only invest the amount of money that you can afford to lose in the worst case.
-There is not only Bitcoin
A mistake that many of the people who want to start in the world of cryptocurrencies make is to invest only in Bitcoin because it is the currency that they have heard about the most. However, although it can sometimes be an excellent investment, you should know that there are hundreds of currencies and digital assets in the market with which you could have more success.
It is advisable to have a cool head when investing and not “put all your eggs” in the same basket, or in the same cryptocurrency. That is why having an investment tool with a wide catalog and that allows you to invest in different digital assets is appropriate if you want to maximize your chances of success.
-Design an investment strategy in cryptos
When investing in cryptocurrencies it is important to have a strategy, both entry and exit. Be clear how far you want to go, what is the maximum period of time you want to wait and what would be the maximum amount that you could afford to lose.
Think about what your strategy would be like in the short term (days or weeks), in the medium term (from six months to a year and a half) and in the long term (after two years) in order to set goals and take safe steps in your path as an investor.
When investing in cryptocurrencies it is important that you gain knowledge and experience. Knowing the vehicles and products that exist, understanding the concepts and technology behind cryptocurrencies is essential, as well as being clear about the risks that investment can entail.
The fact that a currency is talked about a lot or that it is very cheap does not mean that it is a good investment, that is why it is good to be informed, read about cryptocurrencies in reference sources, listen to the advice of experts… and gradually acquire training in this field. To have a more pleasant and safe experience investing in cryptocurrencies.
-Do not be afraid
Yes, the cryptocurrency market can be very volatile, but this is not necessarily a negative aspect. It works in cycles that respond to the feelings of users towards a digital asset, and that is why a crypto can multiply its value by a thousand in a short period of time, or it can lose all its value in that same period of time.
It is advisable not to get carried away by the currencies that everyone talks about, study each project and asset, create a strategy and not be carried away by fear. Whenever possible, you should not sell at a loss, unless the project has proven to be a scam. Many users sell when a currency goes down, leading to its further devaluation. If your strategy is long-term, you should not be scared by a one-time drop, as the currency can rise again just as quickly.