How can you invest in cryptocurrencies?
How can you invest in cryptocurrencies? This is one of the most popular questions in the field of investments after the digital money market has reached a total capitalization of 500 billion dollars.
The investment in cryptocurrencies can be done in two ways: Buying a cryptocurrency that has already been launched or investing in the launch of a new cryptocurrencies through ICO (Initial Coin Offering).
In the first case, the investment is made through exchanges. In order to access such an exchange, the user must create a wallet (virtual wallet) that can be accessed by the user through a unique code called the private key. Under the new regulations, called AML (Anti Money Laundering), platforms should have customer data - KYC (Know Your Customer).
Some exchange platforms, when creating a wallet, ask for a picture of their identity card, and a selfie in which the user has to hold the bank card in his hand, leaving the last 4 digits on the card to prove it is his. Not all platforms comply with these regulations. Once this identification process is complete, users can start buying coins with fiat money.
The second investment variant is the one in a digital coin to be launched - a procedure called ICO (Initial Coin Offering). ICOs are the IPOs' correspondence used to raise capital to launch a new digital coin. More than 3.4 billion dollars were invested in 211 successfully launched ICOs in 2017.
You register on the new company that wants to launch a new crypto and at specific times you can buy tokens that later on are converted to launched coin. Most of them require either to use Ethereums or other cryptos to get in, but some might let you buy with your card at market values. What is interesting here is that if you get involved in the beginning you get some nice bonuses reaching up to 50% or even more.
So, you have the investment methods you can buy crypto it remains for you to decide how you want to proceed further. I myself think that both are good if you go in the beginning phases of development. Also, you should also look up for the timeline that they are planning as around the milestones there are significant movements on the market.
Before investing in crypto one should understand well the concept of blockchain and should invest what he or she can afford to lose. By investing in a virtual currency no one will become rich overnight. So you have to put your greed aside and keep in mind that it is just a long term investment that you may or may not lose.
As long as we all can HODL then we should be good. And getting into value adding cryptos cannot be something that wouldn't repay in the future.
ICO FTW ! #Blockchain #Decentralized #crypto
Just got into crypto and im learning everyday from videos and post like this one. Thanks
Sincerely, very nice post. Upvoted and resteemed