Cryptocurrencies have caused a lot of spike in the last couple of years, and some experts estimate that this will be the future of investment. But, as this technology continues to develop and grow, many hackers see a chance to earn money as well. It has become really challenging to believe someone in a digital world, especially if we are talking about the money. We all remember what happened with the Mt.Gox exchange.
So, if you have already earned you coins, then now it’s the time to keep them safe, and you can only do that if you buy reliable e-wallets. Here are some options for you:
This is a USB sized hardware wallet, which has been specially designed for the cryptocurrency. You need to keep in mind that hardware wallets are expensive, but you get a lot of features in return. This is probably one of the best wallets on the market. It offers you advanced security solutions, such as backing up your private key for the digital currency. You don’t need a computer to use this device. Nano S has a small LCD screen, which allows you to operate your wallet, for example, you can make transactions, exchange cryptocurrency and use the app to transfer money from one account to another. Even if you lose Nano S, you can back up your files and block the theft.
This is another hardware wallet produced by the same company. Only this one is more advanced. It is bigger in size and supports new options which have never been seen in any digital currency wallet. Considering the features, stylish design and advanced options, Ledger Blue is the most expensive wallet available on the market. With Ledger Blue, you aren’t only getting the wallet to keep your coins, but a professional security device, which has a touchscreen, Bluetooth and USB connectivity. When you look at Leger Blue, it will remind you of a mini iPad, but it’s so much more.
Coinpayments is a web-based wallet and became very popular when it allowed their users to store more than 75 currencies. The significant advantage of this wallet is that it provides their services for free, you just need to register. Also, this wallet offers visibility; it means it’s accepted by hundreds of online stores. It means you can use your funds to buy things online, not only use it for trading purpose.
Traders are thrilled with this e-wallet because it offers the best features out there. Exodus is another online based wallet, which provides advanced features to its users. So, if you are searching for a wallet that excellent graphics, reporting system, unique colors and it’s easy to use, then Exodus is the right choice for you. But, the design is not the only thing this wallet has to offer. Many traders are worried about the safety of their coins, and this e-wallet is a perfect option for you.
This can be a tricky question, especially if you are a beginner and just starting to trade digital currencies. We all know about bitcoin, but considering its price reached $10,000, we think this is too much for average users. In this case, you need to find something that will be profitable in the next couple of years. But, how will you do that, if you aren’t a financial expert and you don’t have a sense for trading? Now you have a variety of choice and dozens of digital currencies available on the market. We are going to show you how to make the best decision.
This time gap indicates how much value has been traded through a 24h period and it is expressed in USC and BTC. The higher the volume, the more established the base is. In this case, you should choose a coin that has at least $10,000 trading volume. This is a proof that digital currency is already traded and that there is a certain percentage of people who believe in this cryptocurrency. You can find online some successful stories of investors buying coins for a couple of cents, with a low volume and reached success, but these cases are rare.
You need to pay attention to pump and dump schemes. They are usually set by developers who but a large number of coins and later they sell it. This also means that price will decrease as well. But, if you look at the trading history, you can easily spot this pattern.
The coin liquidity is measured in volume and BTC. Some coins have a minimal BTC volume, which means, if you buy a couple of hundred of them, it can move a market in your disadvantage. To avoid this situation, you shouldn’t use exchanges that a low volume of exchanges.
On the other hand, the exchange can artificially increase the trading volume to attract more investors, who always look for higher liquidity. So, if you aren’t familiar with the exchange history, or you have chosen not such a prominent exchange, then you should pay attention to increase of volume and see if it matches the increase in price. But, why are exchanges doing this? It’s simple; they don’t want to lose clients and corresponding fees. Unfortunately, this problem also affects even larger exchanges, so you should pay attention.
If you want to determine the market capitalization, you just have to multiply the number of coins and current market price. However, this only works with the coins that have already been mined. Developers tend to make a lot of coins at the beginning, which can reflect the higher price, than the one in reality.
The current price of the coin is a perceived value, and you should never make a decision based on that amount. So, if you see a digital currency with a low daily volume, but has a high market capitalization, then it’s some form of manipulation, and you should stay away from it.
We have an impression that 2018 will be the years if digital currencies. The new millions are being made as we speak and investors are interested in all forms of cryptocurrency, such as Ethereum, Bitcoin, NEO, Litecoin, Ripple, and others. This has become a modern-day gold rush, and many people have gone crazy over digital currencies. Now bitcoin is now worth thousands of dollars, which is an impressive amount. For coins that once worth a couple of pennies, now investors have made serious money.
Bitcoin might the oldest cryptocurrency, but it’s not the only one on the market. In fact, many people who are just starting with the trade are focusing their attention on Ethereum. This digital currency has had the most significant gain the previous year, and recently this has become the first choice for investors, considering the price of bitcoin. Ethereum is also one of the first cryptocurrencies that many major companies such as Samsung, Microsoft, and JPMorgan Chace supported. Considering that its price was only 12 dollars last year, now the price of Ethereum is a couple of hundreds of dollars. In this case, Ethereum is slowly but surely making the significant gain.
But, Ethereum is not the only digital currency you can trade, but, it’s definitely the most promising one. There are others that might spike your attention. But, you need to choose the cryptocurrency that has a future on digital market and in some cases, you will have to wait a couple of years until your investment becomes valuable.
This procedure is confusing for the majority of people, especially if you are an average trader. The digital currencies aren’t stocks or a typical investment. Considering that this is a new form of investment, a lot of people still don’t have experience. In this case, you don’t get shares, but digital coins. A lot of experts think that coins are a better solution than paper money because they are supporting a more significant cause.
For traders who are living in the U.S. Coinbase is the most comfortable option to buy digital coins. Here you can buy Ethereum, Litecoin, and Bitcoin, but the platform doesn’t support other currencies, yet. Once you verify your account and choose the method of payment, which includes credit or debit card, U.S. bank account or wire transfer. In most cases, you need to verify your account with a driver’s license and this exchange doesn’t ask for your ID and once you make a transaction, you can’t reverse it.
On the other hand, if you are looking some other digital currencies, that cost less money, you can try with NEO, but it hasn’t made any significant progress. If you own Bitcoins or Ethereum, you can exchange them with any other digital currencies that interest you. If you are outside the U.S., you can try with other exchanges, but our advice would be to avoid Asian exchanges because no one will guarantee you security.
Digital currencies have raised a lot of hype in the past year, and the world went crazy over bitcoin. But, many investors are still insecure, considering its sudden drop. But, again, the bitcoin and Ethereum remain the hottest investment because people are hoping they can earn big money. If you are one of them and you think you have a change with cryptocurrencies, then we present you the ultimate guide. We have drawn up a simple guide for you, and it is intended for people who are just starting with this form of investment.
Until 2016, Bitcoin was the only cryptocurrency you could purchase, and if you wanted to invest your money in this type of trading, Bitcoin was your only choice. However, the situation on the market has changed, now the investors have a variety of alternatives. Even though, Bitcoin is still the dominant digital currency in this industry, in 2017 we got to experience its sudden drop, which cast doubt, and left many people in worry about its future. This is one of the reasons why traders saw a chance with other cryptocurrencies, like Ethereum. So, if you want to invest your money in digital currencies, you need to have your eyes open and listen to the online community because you have a lot of choices. Here are some possible selections: Ethereum, Ripple, Litecoin, Dash, Monero and many more.
A few years ago, it was a real nightmare to buy digital currencies, but nowadays, we have a lot of trading platform which provides such service. The easiest way to purchase cryptocurrencies is to go on an exchange. If you want to avoid paying for high fees, then you should but directly. In this case, you need to find a reliable exchange, open an account, verify your identity and make a transaction. What exchange you will use, will mostly depend on where you live and it’s always better to use an exchange that is physically close to you if something terrible happens. On the other hand, if this is not an option, then it’s better to use an exchange which is located in a stable country and has an excellent legal system.
When it comes to cryptocurrencies, there is no general rule when to buy them. You just need to find a balance because it’s not a good idea to buy them at the peak, but also, it’s not a good idea to buy them when they are crashing. The best time for this type of purchase is when the price is stable and at relatively low level. When the price starts to rise, you need to be strong and resist the temptation to sell your coins because that might be only a beginning. Take some time and follow the trading market, don’t buy coins right away just because you’re bored, or you want to invest your money in something.