Surely you have heard in recent months about the boom of cryptocurrencies, that Bitcoin has reached its historical maximum, that there are other currencies whose growth percentage is even higher… and you want to dive into the world of cryptos but do not know exactly how to do it or have doubts whether, still in 2022, it is profitable to invest in cryptocurrencies.
The answer is clear: it is not too late to invest in cryptos, although you must keep in mind that this is a market that can bring great benefits but is also very volatile. Therefore, it is not easy to know what is the best time, so it will be good for you to use a service like Coinhouse, which we will tell you about in this article. It is also recommended to have some knowledge about the market and be able to anticipate the movements and trends that may happen in the future to have guarantees of success.
But do not worry, whether you want to get started in the world of cryptocurrencies as if you are already a small investor, we are going to give you a series of tips in this article that will serve you to perform your operations in a more comfortable and safe way, thus enjoying the exercise of investing and familiarizing yourself with the booming 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 experienced ones. It is the first question 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 you to open an account by registering on the website of Coinhouse, the first cryptobank in Europe, which was founded in 2015 and since last year has been operating strongly in Spain.
Its aim is to democratize access to cryptocurrencies and is undoubtedly the ideal gateway for anyone who wants to operate with cryptocurrencies in a simple and guaranteed way. It has a multilingual app, which you can use on both iOS and Android devices, a 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 customers- accompanies you throughout the investment process, so that you do not have any problems 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 offers Premium and Platinum services for more experienced investors, with access to exclusive information, complementary services and reduced commissions.
-Don’t invest more than you can afford to invest
This is the most basic advice for any investor. Don’t pretend to make a lot of money, making a very large investment, spending money that you can’t afford to sell just because you are trying to increase your profits at all costs.
The speculative mentality is a bad advisor. Keep in mind that the cryptocurrency market is very volatile, so it is advisable to invest only the amount of money you can afford to lose in the worst case scenario.
-There is not only Bitcoin
A mistake made by many people who want to get started in the world of cryptocurrencies is to invest only in Bitcoin because it is the currency they have heard the most about. However, although it can sometimes be an excellent investment, you should keep in mind that there are hundreds of other currencies and digital assets on the market with which you could be more successful.
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’s why having an investment tool with a broad portfolio and that allows you to invest in different digital assets is appropriate if you want to maximize your chances of being successful.
-Design a crypto investment strategy
When investing in cryptocurrencies it is important to have a strategy, both entry and exit. Be clear about how far you want to go, what is the maximum time frame you want to wait and what would be the maximum amount you could afford to lose.
Think about your strategy 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 (from two years) to set goals and take safe steps on your way as an investor.
-Ongoing training
When investing in cryptocurrencies it is important to acquire knowledge and experience. Knowing the vehicles and products that exist, understanding the concepts and technology behind cryptocurrencies is fundamental, as well as being clear about the risks that investment may entail.
Just because there is a lot of talk about a currency or that it is very cheap does not mean that it is a good investment, that is why it is good to get informed, read about cryptocurrencies in reference sources, pay attention to the advice of experts… and go acquiring 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 by cycles that respond to users’ sentiments towards a digital asset, and that is why a crypto can multiply its value a thousandfold in a short period of time, or it can lose all its value in that same period of time.
The advisable thing to do is not to get sucked into the coins that everyone is talking about, study each project and asset, create a strategy and do not get carried away by fear. Whenever possible, do not sell at a loss, unless the project has proven to be a scam. Many users sell when a currency goes down, which leads to further devaluation. If your strategy is long-term, you should not panic about a one-off drop, as the currency can rise again just as quickly.
