The good And Bad in Crypto-Currency Market Every New Investor Must Know

The Digital Market has its on pros and cons, good and bad, advantages and 
disadvantages. Just like in every other market. and every investor must know this.
This is among my few discoveries in the cryptoworld, and I have made this article that is worth reading to every new beginner in the cryptomarket.

It is important for one to understand what he is about to do even before doing it.

Don't just jump into what you don't even understand.

Here I am going to make a very handy post that will be very useful to every new investor who wants to join the crypto market and make money.

There is a big bang that has explode lately in the Digital Market, precisely, Bitcoin.
But do not let the said explosion lock you in the dark room

Here Are 9 Important And Interesting Facts Every Investor And Trader Must Know

1. Coin May Loss or Gain Value

The reason I want to make this point very clear is because there are so many who would just want to  rush to the market as a result of this booming trend without finding out fully what the market really is.

Sometimes the market could really be down and disappointing, you watch your capital as it goes down, even more than a half.

At this point, or in this market condition, we call it dip.
So if you see yourself in such situation as this, do not loose hope.
It is normal.

So while venturing into the cryptocurrency market, you have to expect times like this.
You may not always get an 100 or 200 percent gain all the time.

Just like gold or every other digital assets in the stock market, the price in dollars may depreciate following some rumors by the top insiders and special holidays, but the actual worth remains.

But nevertheless, there are also huge profit moments in this market.

One could get double or even triple of his initial investment.

In this condition,the right market term is moon.
Here we say that the coin have moon.

To make such gains, it requires patience.
Because you have to trade on a long term basis.

You have to leave your coin at least for six months to one year.
So in this market, profit margin cannot be over stated.

2. Coin may Lost Total Demand

This is one of the most important facts investors and traders don't know.

Some digital assets especially in cryptocurrency may lost its demand in the market as a result of certain factors.
Especially coin that emerges the market newly.

So while trying to sale cryptocurrency, do your research very well, don't be a blind trader.

Have backup plans also while trading on new tokens, because the unknown may happen.

3. Some Coins May Take Too Long to Gain Value

Applying certain market strategies may take too long to work out in certain areas.

Holding coins and waiting for it to moon to sale out is good but very risky.

Some coins may just refuse to appreciate or take too long to gain value.
So here the advice is to hold further until it appreciates.

In this kind of market strategy, you must not trade with capital which is not your own, or with money which is so critical to you and would be needed in a near future.

4. You May Make Up To 500% or More From a Single Trade 

This is very possible and achievable if the right market trends are properly followed. 
In fact it requires simple analysis. 

Here you only need to buy and stock new coins when they're coming up and are cheap. 

Get them in large quantities, encrypt your wallet. Then forget about it  

Go on with your usual activities. 
Then come back to your wallet after six nomonths to a year. What you will see in your wallet will surprise you.

That's simply how the big boys made all the money from Bitcoin, the Grand Father. 
But the big question is always how to find a legit coin that will not varnish and bomb investors. You have to be careful anyway.

5. Online Accounts May Get Disabled or Banned. 

This is the most critical aspect, though it is always overlooked.

I have seen a friend who have lost nearly 1BTC to 
My advice is that you read the TERMS AND CONDITIONS before using any exchange.

A bloody and hell mistake you make can lead to the total forfeiture of your account and total lost of funds.

In, it reads that any cancelled transaction will lead to ban and total blocking of the sender's and receiver's account.

With such warning, one such be watchful not to get oneself in such mess.

6. Cyber Theft And Hackers

You should not be ignorant of the facts that cyber criminals exists.

Do everything possible to make sure your online accounts are safe and free from hackers.

NEVER disclose your online account password to strangers. Avoid opening malicious links, especially links shared via WhatsApp messenger.

Many of those links are malicious and can hack your password if you open them.

Other form may be Phishing websites.
If you fall a victim of visiting a phishing website, they will claim to be the original website you intends to visit, but are not. Their work is to steal your information that you enter on their scam website and use it to log in to the original website.

If there is no 2 factor authentication or SMS notification enabled on your wallet, the thieves will gain access to your account and siphon your funds. 

Enabling a sort of security measure on your wallet is definitely good and helpful.  

7. You May Loose Part or All of Your Capital

Yes, the unpredictable may happen, who knows....
Either as a result of cyber attack, lost of password or which ever way.

This is the reason I always warn my team members and blog readers not to trade with loans and borrowed cash. Anything can happen.

Always start with a smaller amount of money as a new investor to reduce risk.

Have a stop loss benchmark as well for your digital stocks.

8. Transaction Charges Varies Depending on The Exchange

There is what is called internal transaction and external transaction.

Internal transaction is a type of transaction between two wallets on the same exchange. Example, sending from Coinbase to another wallet on the same Coinbase exchange. Or sending from Luno to Luno and from Blockchain to Blockchain. Most of the exchanges declares such transactions free, because it is internal, that is within it's own exchange.

External transaction on the other hand is a type of transaction from a wallet of a particular exchange to the wallet of another exchange. Example of such transaction is when a person using Blockcain sends Bitcoin to another user on Coinbase. Or transaction from Luno to Paxful and vise versa. Some exchanges charges very high when customers perform an external transactions.

One have to put it into consideration as well the type of transaction one have to make and the amount or worth involved in other not to be over charged beyond expectation.

9. The Transaction Fee paid is the Determinant of The Transaction Speed

It is just like in our physical method of transporting goods where we have the aeroplane, the car, and the motorcycle. So the greater the cost, the faster and more efficient it is.

So in the same way, in our digital transaction, if you pay more for transaction it will be more swift and fast. But if you pay less, there is bound to be delays and so on.

It is very important for one to know the good and the  bad in a particular business before doing it.
Now that you have understood but sides, knowing the bad possible outcome will always help you control it, thereby reducing risk.

The bottom line is be very careful while trading as every transactions are done online.
Happy trading.
The good And Bad in Crypto-Currency Market Every New Investor Must Know The good And Bad in Crypto-Currency Market Every New Investor Must Know Reviewed by Godwin Akpan on July 25, 2018 Rating: 5

No comments:

All comments are welcomed. Therefore to help us improve our services, kindly comment before leaving this blog

Featured post

Bitcoin Mining And the Mining Scams

Mining And Mining Scam I have re ceived a lot of compla ints and mails from pote ntial crypto lovers already stating that t hey hav...

Powered by Blogger.