It's Time To Stay Calm
Looking at the current trend and downfall of cryptocurrency market and Bitcoin, I will suggest every one who trade in cryptocurrency to relax, be patience, be calm and wait for the time to come. There is no need to panic and stop following the market for sometime as it is going to raise your blood pressure unnecessarily.
Think Cryptocurrency for Long Term
For those who have invested in cryptocurrency and are afraid looking at the market situation today. My advise will be is either you quit crypto world completely or stay calm and hold your coins. We all know the Crypto market is uncertain and unpredictable, although we should also remember that we jumped in Crypto market at our own risk and to make quick money and if that's true then there is nothing to panic.
Trust me if you hold your coins for long-term and stop panicking because of downfall of the market today, definitely you make your money in the crypto world. Crypto world is definitely not for people with weak heart. You have to be brave and have enough patience to survive in this market. Because of the panicking of low volume traders these whales(high volume traders) are able to fluctuate the market big time and make huge profits.
Which CryptoCurrencies you can hold long-term?
In this trending crypto world a through knowledge of the cryptocurrency is very important. Any coin you buy must be studied before you spend your hard earned money on it, because today crypto world has more than 1500 cryptocurrency offered for trading. It is so risky and confusing when one needs to spend hard earned money and gain profit out of it. There is so much of scam involved therefor my first advise is to study in deep about the coins you are investing in.
Go through their whitepapers and understand if they are trying to solve some unique problem in blockchain world.
What kind of problem they are trying to solve.
What kind of services are they offering.
These are the common questions you should be thinking of before investing on a cryptocoin.
So many ICOs are there in market which are scam and they are there to steal our hard earned money. We have to be very cautious and ensure that our money is safe. I know you must be thinking that crypto world is all about risk then how we can guarantee safety in money. My answer to those who are having this question in their mind is, yes we can guarantee safety of our money by at least not blindly investing in any cryptocurrency which we are not aware of or just because one of our best friend or family member has invested in it.
3 easy steps I follow when investing in cryptocurrency
- Read: Try to read the white papers of the cyrptocurrency company you are willing to buy. Understand their plan and how futuristic are they.
Who are the founders of the company. Find out their past history, do they really have a past of making wonders.
Gather more information on the company, their goals and how strong their team is. - Study the product: Identify how unique the product is.
What advantage the product is going to provide over other products?
Is there already a similar product available?
Compare the product with traditional product available on web 2.0 platforms or any existing well known product. - Invest small: Never ever dump your money in one cryptocurrency. Always invest small, if you have any doubts on the product. My advise will be is to better not to invest in any product where you have concerns or doubts.
Investing small gives you the liberty to select other crytpocurrencies and divide your investment in multiple sources or currencies. This strategy can definitely give you better profits and avoid risk of any currency going down. It will balance out your profit and losses.
Few cryptocurrenices you can hold for long-term investment (My view)
Bitcoin, Ethereum, BitcoinCash etc. are the common and popular coins where I am sure most of the investors would have invested. And they are good for short term trading as well.
What we are going to look at is coins that will give you long-term profits.
STEEM: Steem is the future of cryptoworld and the way it is trending up is definitely the choice for long-term investment. Steem being the Facebook of Decentralized Blockchain technology has a capability to grow in long-term and definitely give high returns to investors/traders.
Binance Coin(BNB): Binance coin is one of my favorite coin and it is a long-term high profit generator coin according to me and the way it is trending in market.
Binance is a great exchange platform and their coin BNB has a lot of potential for growth. In comparison with some other new coins, BNB has already working product which is definitely profitable.
CointMarketCap has listed BNB in top 15 Cryptocurrencies By Market Capitalization. It has reached 24 USD in January 2018. It has the potential to touch 150 to 200 USD in the year 2019.
Zhao ChengPeng the CEO of Binance is a known personality in the Cryptoworld and his vision definitely will take this coin to touch heights which we as traders has never imagined.
If you still do not have an account on BINANCE then grab one today from this referral link https://www.binance.com/?ref=19959883. 50% discount on trading/transaction fee by using BNB coin.
EOS: EOS has a very bright future. It is ranked 5th in less than a year and will climb further up as it has a huge potential, well capitalized and awesome team. EOS being the digital office/warehousing aims to become the preferred platform to develop and host Decentralized applications.
Long-term holding of EOS is definitely going to be profitable.
This blog post can go long endlessly. My main motive was to share my views on current market situation and not to panic because of market fall. Be patience and hold the coins as long as possible to gain maximum profit.
Study the cryptocurrency before you invest your hard earned money in it.
Please note: This blog post is created to provide you information on CryptoMarket and I am not liable for any loss or gain for any investment or trade you perform in Cryptocurrency.