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The best way to manage the risks involved in investing cryptocurrencies is to diversify your investments. There are so many good crypto coins out there to earn profits from. So the aim should be to diversify your funds rather than investing all your idle funds in one coin. Then also you should not invest more than you financial capacity or in simple terms don’t invest more than what you cannot afford to lose.
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Btctalk name : kimochidesh
Rank : Sr. Member
Current post count : 849
BTC address : 38GNJeVRRY9bJmvt5vzeHJ24bVkLt1641V
Wear appropriate signature : yes
Wear avatar : yes
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Some factors that decide which cryptocurrencies is best to invest for long term are
The market capitalization of the cryptocurrency: The higher the better.
The Usefulness And Features Of The Cryptocurrency
The Popularity of the Cryptocurrency: most popular is preferable
The Activeness of the Development Community: the more active the more chance of development.
All these features are present in Bitcoin so yes, it is a good long term investment. Beside Bitcoin, you can consider Ethereum, Ripple and Monero also.
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Honestly, 1% of the Bitcoin makes a huge amount. It is a cause of worry if this amount is being used for illegal purposes. Actually Bitcoin can be easily used for illegal transactions because of its anonymous nature. Being not controlled by central authority, the chances of frauds and scams also increases. Also currently the victims cannot seek relief from the courts which further encourages the scammers for doing illegalactivities.
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According to me both ETH and Waves are equally well. But as you said that you have 3 ETH already then I’ll suggest you to buy Waves. If you have to sell your ETH and then buy Waves then also you can invest in both. You can sell some proportion of ETH and buy Waves from the sale proceedings. This will diversify your investments and will help you to lessen the chances of experiencing losses.
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I personally hold the coins that I receive as rewards from the campaigns. Since the value of the coins I receive is very less to earn a considerable amount of profit, I think its better that I should hold on to them. After few years the price of the coins that I received as rewards may rise and give me big profits. One should at least wait for 6 months before selling his rewards otherwise he might repent his mistake.
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The most important thing which should be taken care of if you do not want to lose all your money in crypto is that never invest more than what you cannot afford to lose. Then, invest in any coin after doing the research and study about it. Remember to diversify your investments. This will reduce your chances of experiencing loss. Your emotions should not play any role in your decision making regarding trading.
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1. Trading without knowledge is the most common reason failing. Many people take trading as gambling.
2. Having unrealistic goals.
3. Selling your investments out of panic. Getting emotional will not help you.
4. Not diversifying the investments.
5. Investing more than what you cannot afford to lose.
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If the regulation is I being done for adding some rules to the crypto industry then I think it’s a good thing. This will ensure that cryptocurrencies are not being used for terrorism and money laundering activities. This will lead to the addition of many investors to the crypto industry who are currently not investing due to the negative attitude of government towards cryptocurrencies.
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Most countries have not clearly made determinations on the legality of Bitcoin, preferring instead to take a wait-and-see approach. Some countries have indirectly assented to the legal usage of Bitcoins by enacting some regulatory oversight. Countries like US, Canada, Japan, Germany, Australia, European Union, Malta, etc. have a positive attitude towards cryptocurrencies. However, Bitcoin is never legally acceptable as a substitute for a country’s legal tender.
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Can any government control bitcoin?or add taxes for btc users?
I don’t know what do you mean by the word “control”, but it implies that you are asking could government own Bitcoin or could they increase or decrease Bitcoin? This obviously is not possible. But yes, the government can affect investing in Bitcoin in its country by framing some laws that can hinder the people from investing in cryptocurrencies. And some governments have already started levying taxes on income from Bitcoin. |
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Cryptocurrency has helped me to fulfill my financial needs and has made me financially stronger. I have earned substantial amount of profit by trading cryptocurrencies which has definitely made me richer than what I was before. This is the main reason that why I am involved in cryptocurrency world. Further, I am also fascinated towards new technologies.
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Bitcointalk Username: Kimochidesh
Rank: Sr. Member
Current post count: 828
BTC Address: 38GNJeVRRY9bJmvt5vzeHJ24bVkLt1641V
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