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Using your social media accounts in promoting cryptocurrencies can earn you decent coin which you can convert to fiat. There are different campaigns you can do for ICOs and mostly new altcoins some of which are: twitter campaign, facebook campaign, telegram campaign, content creation campaign, signature campaign and so others. These campagins can earn you decent cash.
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I am not surprised because this market downturn is affecting all cryptocurrency even BTC is not exempted. The truth about any market is that we always have time for upward move and time for downward move. This is the reason why we make profit. We buy when the price is low and we sell when the price goes up and the difference is our profit. Those that buy now will make more profit when the market goes up
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To me there is nothing like favourite coin because if you ask people, they can not agree to one coin to be the most favourite. This is because of the fact that each coin has given different benefits to different people. I think first thing to do is to do your deligent research on any coin that interest you before investing into it. In my own opinion, if you check my signature you will see the coin which i have done necessary research and i see that they meet the criteria
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The cryptocurrency world is also like other investment world where ups and downs are being experienced. In years past, such ups and downs have being experienced and this is enough to give hope that the downward trend being experienced will surely have an end and we start seeing an upward trend in the market. My advice is that this is the time to buy and hold so as to make massive profit when the market start witnessing an upward trend in prices.
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With the present condition of the market, it might be difficult for you to find buyer and also with the fact that the altcoin you want to sell hasn't being listed on any exchange. It will have been better if you can hold the coin till it is listed on exchange and sell. I will advice you keep monitoring the progress of the altcoin through their telegram group.
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The market condition is still nose-diven down and very pathetic. Considering the history of cryptocurrency, i am quite sure that the market will still moon when the time comes but what i don't envisage is the possibility of it happening this year because towards the end of the year, most investors prefer to hold their money in cash because they believe that economic, business and market activities mainly for investors are always dull towards the end of the year.
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The altcoin to invest depends on so many conditions and I think you will first decide on what your motive is. As for the general conditions which can help influence better decision, they are: you study and confirm if the altcoin has usecase( i.e what the altcoin will be used for), also it is adviseable to buy altcoin which has low price in the market because majority of them have a greater percentage increase more than the ones that have names.
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It all depends from which angle you are talking from. if you are reffering to storing your cryptocurrencies on exchange, i dont think that is a wise decision to take but if you are talking from the angle of trading, then there is no way you can do without an exchange platform because that is where you will meet traders who are willing to do business with you. All i can say is that you do diligent research so as to choose reliable and dependable exchange platform.
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The direction of price in any market is determined by the force of demand and supply as we have all learned in school. If you study the trend in the cryptocurrency market, you will see that it follow this rule. I will advice that you hold your cryptocurrency till there is a surge in the prices which i know that it will happen soon. This is one of the reason that it is said that cryptocurrency investment is a long term investment.
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I have more believe in it because so many people have made fortune from the cryptocurrency market just by investing money when the price is low and wait till the price goes up and sell for profit. There is huge opportunity in cryptocurrency market even though it is risky but i want to let you know that all investment opportunities are also risky. If you take calculated risk in cryptocurrency market, then you are on the verge of reducing your loss and increasing your profit.
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It is true that so many cryptocurrency projects come out on a daily basis but the simple truth is that we now have few of the project to be successful and those are the few that pay bounty hunters. You hear the rest saying that they didnt meet soft-cap and as such will stop the project. I think if you can join some online sites, telegram groups and forums, then you can be rest assured that you will make better decision in choosing a promising project to do.
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Recently, many Cryptocurrencies have been created and the rapidly changing market landscape, all investments in Cryptocurrency can be high risk. Even Bitcoin which is by far the most stable crypto also shows a fluctuating price.
For comparison, though, altcoin prices are more volatile due to low market cap, altcoin markets are particularly vulnerable to price manipulation. Investors who have a large capital called "whale" - often inject large sums of money into coins that have low prices to build sensations and cause the price of the coin to skyrocket. Once the price has increased, he sells their coins on the exchange with huge profits, making many other investors deceived in the process. This method is known as "pump & dump." This can not only hurt greedy traders who do not take the time to analyze their investments, but are often shown to cause altcoins to have short lifespan.
To avoid losing all your investments due to pump & dump, focus long-term investments on coins that you believe have great potential and show good health. Generally, healthy altcoin has a strong community, shows high liquidity, and has a team of developers who proactively improve the source code of the coin. The comprehensive loginitma of CoinGecko metrics analysis statistically analyzes these three important factors and ranks the coins according to the overall strength of the coin.
If you choose to invest in altcoin, it is important to remember some basic principles of investment. Avoid the hype from those distributed by the coin community. Every investor has an agenda, so it's best not to take their word round. Invest only on coins you have previously worked on. It is not wise to invest in something you do not understand. Making an investment based on the wrong information is a sign that you will lose your hard-earned money. Take the time to research the coins you would consider a long-term investment, and research the market situation before you try to become a high-volume short-term trader. Most importantly, never invest more than your ability to take losses. Too many people lose their life savings by focusing them on a volatile investment.
I think understanding the word investment is the first thing and also the way it is undertaken in the field of cryptocurrency. I believe that putting your investment into cryptocurrencies should be a long-term thing. It will certainly take time for the price of such altcoin to go up to where you can reasonably say you have make profit. This is what most investors fail to realise |
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Making the right choice in terms of altcoin is a tough task and yet it is the bedrock that leads to choosing good project to invest into. Probably most investors just invest without doing the needed research which will enable them to make right decision as per which altcoin to invest into. Investing in altcoin is profitable but please take it upon yourself to do the needed research so as to be able to choose a promising project
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Investing in cryptocurrency shouldn't be seen as a get rich quick scheme. Those that believe it to be a get rich quick scheme to end up investing in the project that has an artificial pump in price and at the end of the day, they have regrets. What they fail to realize is that normal market forces doesn't give much volatility. When you see great volatility in the market, you have to be extremely careful so as not to make the wrong choice.
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