Crypto trading has always been the future of global currency. It had faced flack in the past. But, in all generalizations, the biggest hazard it brings is scam deals. The environmental hazard part is not as big as diesel-powered automobiles. Cars have bigger carbon emissions than running a crypto mining rig.
In this article, we’ll get you started on investing in crypto. Additionally, we will add snippets on avoiding scam deals so you can invest safely.
Step 1: Install a Crypto App.
If you are among the few million people who saw the Super Bowl ad, then this is good for you. If you haven’t touched the app yet, then you’re in luck. We’re here to guide you.
Let’s say you installed Coinbase. What will you do next? Choosing the coin you want to dump on, for the time being, will give you the proper idea of how conversion and how the trajectory of the value changes in time.
You also need to consider that converting your fiat into crypto is not as easy as going to your local Western Union. Some cryptocurrencies have different standard investment values, and that will change over time.
Step 2: Take Advantage of Bonuses.
These ads offer as much as 8.5 BTC as a raffle draw prize to new crypto investor accounts. You can use the discounted amount for the conversion costs of these apps as well. These conversion bonuses are perfect for sudden Crypto Day Trading, and there is a steep amount of conversion to other cryptos if you’re not careful enough.
Step 3: Invest in Lite Coins.
Investing in Lite Coins is cheaper, and it does not cost as much as one ETH or BTC. You can invest as small as 50 dollars and look around at it. If you gain profit from it in a month or so or not, you can trade it off somewhere else. Using apps like Coinbase allows you to do so with a flick of a button on your phone.
Loads of options are available in the market. Some of the moon for a short amount of time, so there is a lot of timing and observance involved.
Step 4: Watch Out For Bulling and Bearing coins.
The best bet when investing in cryptocurrency is to look at how does your coin fair in the past few months. So, in this case, every coin in the market is going down. It is an ideal time to start buying new coins and semi-predicting future bulling coins.
All it takes is a leap of faith when creating profit from a parabolic cycle repeat like this. Buy low and sell high. That’s what they say nowadays. It’s not an old idea, but it’s always an effective one when it comes to investing your money.
Step 5: Beware Of The Pump And Dump
It’s the classic Machiavellian bait and switch move. This is the biggest red flag for crypto and in any investment. Pump and dump schemes are prevalent since trading crypto online is anonymous. So, if you want to actually take the risk of banking on crypto, do your research first.
By the meaning of doing your research means never trust any site without HTTPS encryption. Get a VPN, and look at decent sites like Investopedia to get familiarized with basic crypto terms before dunking your money into the darkness.
Also, if you have any mutuals that are into crypto as well, never trust anyone who has had a rough time handling their money. If anything, just take plain cues from them and never touch their business. Always be vigilant. Because if you cannot trust the people you’re close with, there is a bigger chance that people online that you have met on the Internet will easily make you a scam deal in a heartbeat.
Conclusion
In all honesty, cryptocurrency is just as volatile and rewarding as investing in the stock market. What is important is that you get to soak your foot in the new ads and the bonuses you get from it from the Crypto Bowl event.
That perfect ad placement and the discounted trading fees for bonuses will likely leverage your chances to earn profit. Never mind the free BTC raffle promo they do, but it does not hurt joining it anyway.
If anything, this Crypto Bowl phenomenon can help you create the first step in investing in crypto. To the crypto community’s benefit, even the state of Georgia and Wall Street are even considering lessening fees and creating a marketplace to observe cryptocurrency as time moves forward.
The good thing is that once you’ve dipped your feet in Crypto thanks to the Super Bowl, you get to Invest in Lite Coins and observe which is creating or losing money from it. Always remember, Buy Low, Sell high.
Are you ready to test the waters in Crypto? If you have any more problems, give us a comment below so we can help you guys out.