Congratulations! Somehow you have navigated to this post, which can mean only one of three things
- you are already a member / one of my followers
- you stumbled across it maybe during an internet search
- you were directed here by a friend or member of another community
So let's stop right now, before we get down to first principles. If you are not already a member of PUBLISH0X sign up right now and start sharing daily tips and why not become a Publish0x blogger and receive tips for your writing too?
Ok First Principles.
Most people start investing in Crypto-Currency to make money. We all know the legendary story of how BitCoin once cost $0.10 and now each one is hovering around about $50,000 (or 500,000 times more than before). Crypto-currency isn't just BitCoin, there is a whole new world out there for you. Growth results in the application of some basic tactics.
- Hodling - hold currency until there is such an upshift in prices that profits can easily be taken
- Staking - earn higher than bank rate interest on held assets. Consider this in symbosis with hodling - that is get interest on what you are holding while waiting for the significant price change. The amount of crypto you possess will grow, but not necessarily its value which is market price dependent, however the overall trend in the long term is upwards.
- Day-Trading - look to make regular (possibly small) profits by trading currency margins. In principle this is a bit like ForEx trading. There are several variables which I have covered in previous articles.
Whatever you do you must always remember it is not profit until you cash it out.
Common Sense and Some Practicalities.
Rule number one of any investment is that you must never ever invest more than you are prepared to lose. At times you may need to hold your nerve as for every reaction that is often an opposite reaction. Market volatility means that prices may surge one day and fall just as dramatically the next day as the market corrects itself - if you are struggling to visualise this just imagine house prices on the property market, but in fast forward.
So you need to have a wallet / exchange to hold your currency in. There are many out there and they have a whole load of pit traps.
Coinbase is the world's largest exchange but they are notoriously expensive and when the market overheats it has a habit of overloading so trading assets becomes problematic. However all the assets they hold are insured and they score highly when it comes to trust and transparency. With COINBASE you know what you are getting into. Coinbase has a nice interface, although Coinbase Pro is a bit more complicated - I once described it as Christmas Tree on steroids
Binance is a popular choice with many in the community with its narrower margins and comfortable interface. However it is China based and less regulated and so potentially possesses a greater risk - although I have yet to hear any complaints about them.
There are a whole multitude of wallets out there too, Trust, Atomic, Upload to name a few and from what I have seen they are happy to hold your crypto but don't you dare move it because they will swallow huge amounts of your assets in network fees which are known as gas fees (fees for verifying transactions etc). Personally I don't trust any of these wallet services.
There are others out there and common sense dictates you do your own research.
So now you have decided on the platform you want to use you need to load it with some fiat currency (your day to day currency GBP / USD / EUR etc) so that you can begin to buy and sell.
But Wait!
There are a multitude of ways to get crypto without having to part with your hard earned cash, although some of them can be quite slow. However, they all add up. By joining Publish0x you have already made a start. Tip and tip regularly and the best thing about Publish0x is that you can learn something while doing so. Spend your time learning from experienced hands and seek out their articles. Read:Cash among others over a similar service.
Among other ways to get free crypto are:
- Coinbase Earn - complete simple learning tasks to be rewarded with crypto once you become eligible.
- Faucets - complete tasks, fill in questionnaires and view adverts to earn. These can be time consuming and it is best done during down time. I use COINTIPLY and do the activites when I am watching TV, etc. Find out more here or sign up for free.
- Noise:Cash has to be my favourite. It is almost like Twitter with rewards. They reward in BitCoin Cash and in my first month I acquired about 10% with a current value of more than $50. Join up and find me here (the link will take you to my profile and you haven't around joined then there is a get started link in the top menu to sign up with)
- Use affiliate links to invite others on a multitude of platforms and get rewarded.
If you are interested in trading there are a many methods that can be used. Please consider following me if you are not already doing so and take time to go through some of my methods including
- halving (oh no I've made a bad investment)
- milking the cow
- breaking down the wall
- stablecoin pairing
- among others.
Please forgive me for not linking every single thing, but you will find them in my posts. You should do some work for yourself too. It's good for you :)
Celsius for Staking?
If you are planning to hodl long term why not stake on Celsius. Again you need to be slightly careful because many wallets / exchanges charge a lot of gas for moving currency about. Celsius itself doesnt, but you must factor in these gas fees to work out when you are able to profit. My article complete with a case study is available here.
If you are interested in joining Celsius it is only available as an app. Please visit Celsius and download the app. Quote reference 16005665cc
I don't want to overload this article with too much information so I will stop there, but very soon I will be posting a roadmap in which we can help each other out and benefit from the giveaways in the system. This roadmap will then be repeatable to others in your network who are interested in investing in crypto
As always stay safe and stay well and enjoy the rest of your weekend
