The Crypto Rush - Tip #1 to help you with your future
Tips to help you with your future
Just like the gold rush, technology companies have raised over $646 million this year in ICO(Initial Coin Offerings), and that is more than six times the total raised last year, according to Coinschedule.com. Coin prices on the rise, doubling or even tripling on average since they start trading, has persuaded investors like us to buy millions in early stages of development for the ICOs that often close before you even know what happened. This frenzy has driven coins like ANS (Antshares or the new branded name Neo) neo.org to sky rocket from $.25 dollars to about $7 dollars.
Some other ALT(Alternative) coins that have shot up
Dash
Dash just within the last 6 months went from about $10 dollars in December 2016 all the way to about $190
Ethereum
Ethereum from early this year went from $7 dollars in January this year to where it currently is at around $340
Steem
Steem earlier this year about February went from $.12 to $2.22
Stratis
Stratis early this year was only $.07 and now a whopping $7.80
Now of course if you were lucky to buy early on these coins I'm sure you could of made some good profit and would be sitting pretty for the future to come.
Tips that will help you safety net your investment
-1 Do not buy ICOs until they reach the markets (Poloniex, Bittrex, etc.). This is my own opinion, however they mostly have a plummeting trend once it gets introduced to the markets.
-2 Never spend more than what you can afford to lose. Now I've heard that for years from my dad and other mentors in my life, and it definitely rings true in this type of volatile market.
-3 Double, Triple, Quadruple check even.. your coin address to make sure you're not sending to a different type of address. Now some exchanges such as Coinbase, Poloniex, and even Bittrex they check the format of your address and tell warn you that it's incorrect. However, if you have an old address in your clipboard and you send to an Ethereum address you sent earlier, because for some reason the new copy of your address didn't take, well, you just lost your Ether to some lucky bloke.
-4 When you withdrawal crypto from an exchange to your wallet ALWAYS do a test send to your wallet. You want to do this because sometimes wallets go through maintenance so your coin could get stuck for weeks (speaking from experience).
These are some simple tips that can help you with investing in cryptocurrency. If you like these tips please follow me @Oceancoinz and comment if you want to see more of these tips or different ones, just ask!. I'm grateful for my followers and I hope to see your comments so I can interact with my fellow steemians.
The Information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you.
you have great post
I am your follower now @oceancoinz
Followed you back and thank you for your support. :) I hope you have a great weekend.
you r welcome my friend
I also hope you have a good weekend
Awesome tips, definitely shouldn't invest more than you are prepared to lose. I also believe that people should be looking into the cheaper coins than the larger ones right now, more profit to be made.
Yes, that's good advice. I always buy a crypt for a little money, so it's not a pity to lose it.
For sure. Live and die by the alts.
Most definitely. Im invested in SIA, ECC, DGB, and Burst for the cheaper one. :)
Great tips. Everybody who is interested in this market should know this.
With interest I read your advice. I'm interested in crypt, but so far new to it.
I will definitely have tutorials on cryptos and the how to's and don'ts. If you have anything you want to learn with cryptos please message meback. Happy Steeming. :)
Cheers
Mark
For me, everything is new so far. I would like to know which crypt to buy, and which one should not be better
Imo crypto will eventually revolutionize many aspects of our world. However, this current climate is very reminiscent of the dot com bubble. Personally I think many of these startups will fail, but the ones that last will become huge players on a global scale.
Also I don't think many people realize the difference between these cryptos, they are NOT just currencies. Each one has special characteristics and advantages. Ether for example has a multitude of uses outside of the token. It can be used to develop all sorts of decentralized applications that can have widespread use. And these innovations is what will fuel the growth of this "industry?".
Also I think that the time horizons for these revolutions are much farther out than people expect. The majority of people will lose their faith way before they actually make good on the promises of a better future. This current market is very speculatively driven. This will most likely result in a crash of some sort and will offer manyyyyyy great buying opportunities for those who are patient and realize the true value of what has been created here.
Yes, the hldrz will do well, but the investors shorting arent to be very happy right now. You can make some but not as much as the hype constitutes.
Yeah shorting right now would be like stepping in front of a train. Probably not a good idea. However if the momentum fades and they start decisively turning down, I'll definitely be looking for short opportunities.
Agreed. Ya I sold Strat when it was $12 and kept some and now its $8 or so. Antshares or NEO is a great investment right now because of all the hype, especially for shorting.
Ya definitely, like you said ether is a framework that uses coins like golem. Golem uses the fuel of ether to push transactions through.
What're your thoughts on the current prices and near future for these cryptos? How much farther do you think they can go? The thing with bubbles is that the participants are irrational. So trying to call the tops is hard because it's not like they are acting on logical decisions.
Well, the problem right now is you are correct, people are acting irrational because they are new to the trading/hldr world. Most of the time whales are testing each coin for weak hands so they can gobble up some cheap coin so it's very hard to predict growth, when they are trying to increase their coin capacity. I am planning to write up a blog about possible future prices based on my criteria that I do for all my coins in my portfolio. But for now I think we're going to see this weird flux in prices until the beginning of August when the HF(hardfork) is supposed to take place. I can see after that point tremendous changes in all coins. I would suggest gathering as much as cheap coin that have solid backing like (ANS, SIA, XRP to name some) of course ANS or NEO isn't cheap anymore but it's supposed to be the Chinese Ether. Hope this helped my friend.
Cheers
Mark
Awesome. I'll definitely keep an eye out for that post. Thanks!
Have a nice one.
Very good pointers! I've been eyeing a few alt coins I plan to add to my investment portfolio. Keep adding value to the community. Upvoted :)
Thank you :)
Good post. Upvoting. What alts in your opinion will be succesfull in 2018? Its so hard to keep up with all the altcoins
For cheap coins I would say SIA, DGB, and ECC off the top of my head. I'll be putting a post soon about these coins and others. Thanks for the upVote :3
Great insights! This is so exciting. The whole crypto world is exploding and I love to read and invest. Thanks for the post!
thank that have made me laugh and change my mind , i was sure that i want s ell kydney if steemit close one day or if not get any job before monday ahahaha nice t meet you by the up voted and definetly followed soon best regard
@zinga
This is of great help to me as I'm a beginner in the crypto world. Thank you.
Thank you! Well, I'll help you through the learning experience. :3