How Do We Know Which Cryptocurrency Is A Good Investment?

Are you thinking about investing in cryptocurrencies? If so, you need to start doing research, because there are several types and not all of them would be a good addition to your portfolio. Two of the best cryptocurrency investment products are Ethereum and Bitcoin, both of which offer a lot of potential for profit. However, some investors prefer the lesser-known investment products, such as Aragon (ANT), Stox (STX) and Blocktix (TIX). So, how are you supposed to know which cryptocurrency is a good investment? Below, you will discover the answer to this question and so much more.

How Do We Know Which Cryptocurrency Is A Good Investment

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How Do We Know Which Cryptocurrency Is A Good Investment?

Choose A Cryptocurrency Exchange

One of the best ways to secure your investment is with a reputable cryptocurrency exchange. While there are more than a few websites that offer this service, not all of them are trustworthy or even legitimate for that matter. In-depth research will be required for this step, but you should not have any difficulty finding reviews and ratings of the top cryptocurrency exchanges.

A reputable cryptocurrency exchange will ensure you safe, quick and secure transactions, as well as protect you from potential scammers. Once you find an exchange, you will need to create an account. It should not take longer than 15 minutes to complete the registration form. Once this process is complete, you will be ready to start purchasing coins.

Be Wary Of Forums

There are several online forums that offer a platform for cryptocurrency sellers and investors. While these forums are known for bridging the gap between sellers and buyers, they do not secure any transactions make between the two. Forums are not much more than communities of people who are interested in buying and selling coins.

Now, you must not think of the online community or forum as a Forex trading platform, because it is far from it. Instead, they are more like a flea market, since you will be bargaining and purchasing the coins directly from an independent seller.

You must remember that not everyone who frequents these forums is looking to sell their cryptocurrencies. It is quick common for scammers to visit these sites, looking for vulnerable victims. As a newbie, you are still unfamiliar with the entire process. It will take a while to learn which sellers to deal with and the ones to avoid.

Reputable sellers will offer references to potential buyers because they have nothing to hide. Scammers will shy away from requests. Approaching sellers on forums should always start with a request for references of previous trades.

Bitcoin

By now you should know a little bit about the very popular cryptocurrency, Bitcoin, which has and continues to lead the market. People who invested in Bitcoin several years ago had the opportunity to make huge profits in 2017. At one point, a single Bitcoin was worth almost $20,000. Of course, this did not last very long and today one Bitcoin is worth less than half of that amount.

Even though Bitcoin is still the most dominant cryptocurrency, the popularity of Ethereum is full force ahead. However, if you want to build a solid portfolio, you should definitely consider investing in Bitcoin.

Author: Alice Johnson


Additional Reading/Sources:
What Is Cryptocurrency for Dummies | How Cryptocurrency Works?
Top 5 Next Best and Promising Cryptocurrency to Invest in 2018
Why Should You Invest in TRON?
Is Ethereum the Next Bitcoin? Is It the Next Big Thing After Bitcoin?

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How Do We Know Which Cryptocurrency Is A Good Investment?
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How Do We Know Which Cryptocurrency Is A Good Investment?
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Two of the best cryptocurrency investment products are Ethereum and Bitcoin. However, some investors prefer the lesser-known investment products, such as Aragon (ANT), Stox (STX) and Blocktix (TIX). So, how are you supposed to know which cryptocurrency is a good investment?
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