Although a lot of people know that investing is good, still a lot of people shy from investing because of their belief or myth.
Let me site my top 5:
Myth: You Need a Lot of Money to Invest
People assume, you have to be rich to invest. Yes, you need money to make money in investing, that much is true. But you don't need a lot of money.
It’s worth mentioning that there are companies on the market that trade for less than 10$/share. In fact, you could even start investing for even less than a dollar with some penny stocks like what Tim Sykes did during college, and look where he is at now! So no, you don’t need a ton of cash to start investing.Myth: Investing is too Risky
Still, a lot of people shy from investing because they mistakenly think it’s like gambling. Sure, investing in a single asset is very risky (though your odds are probably still better than gambling).
Gambling is typically a short-lived activity, while investing in any form can last a lifetime. In general, most average investors will do better investing and compounding over a lifetime than trying to win the lottery.
Gambling works differently compared to investing. The gambling’s, goal is for other people to lose money, so winner only makes money if other people lose. And that means one has to lose in order for another one to win. While with investing, the goal is utilizing the money for growth; no one has to lose in order to earn money. And if you learn how to compound and diversify your portfolio, you will end up earning more.
That being said, there is some risk in investing. And some investments are riskier than others. So invest depending on your risk appetite.Myth: Investments are for experts
You, don't have to be an expert to invest. You just have to be an expert in one small part of the market. Experts call it being an inch wide and a mile deep. Pick something in market you’re already interested in that is related to your hobbies, passions, work, and risk preferences.
There are multiple ways to invest, for common people. Mutual Funds, for example, are where the funds are managed by experts and the common people just need to put in money. There is, obviously, a need to judge the funds to put the money in but there is no need to manage the fund.Myth: Investing is hard
One of the biggest myths about investing is that it’s hard and should be left to those who has the technical-know- how.
Investing isn’t as unpredictable as gambling. You can do a boring, “set and forget” (like the famous crypto word nowadays (buy-and-HODL) investment portfolio. Just you pick a handful of investment and let them do the work. Over time, you should earn an average market return. Just focus on what you know, stick to it religiously, and wait for the market to drop the price. Practice the “buy low, sell high” attitude and not the other way around.Myth: You need a lot of time
You don’t need to constantly be on constant watch and looking at your investment and do accounting on your head as to how much ROI have you gained or lost. You will just end up exhausted and frustrated. Consider this; buying and holding stocks and bonds for retirement takes no more than a few hours per month. You may even be spending more time watching your favourite TV show in one day.
People who wants to invest are also burdened with the question as to how much to invest, where to invest and when to invest. This set of questions and common myths kept people from building a basic portfolio. Well, if you ever plan on retiring easy and successfully, you'll need that portfolio. Don’t let these myths get in your way!.
With the recent growth and increase awareness in cryptocurrencies like Bitcoin, Ethereum and Litecoin many people have taken interest to investing in cryptocurrencies. But with the recent change of event where one bitcoin is now worth more than $10,000, and experts saying it has now reached it’s “bubble territory”, the public were deeply concerned and more sceptical more than ever to invest, thinking they could not afford that much money.
Like anything worth anything, successful investing takes hard work and effort and not everyone is willing to do some research on how to invest.
Fortunately, SKRAPS developer has found a canny way of removing this myths into everyone's mind. They believed that best way to get started in cryptocurrency investing is to invest spare change from daily transactions to a portfolio of crypto-tokens based on one’s risk appetite. Through Skraps, crypto investing is made simple and fun by taking away the cognitive burden of investing.
With SKRAPS platform, investing is made easy as 1, 2 ,3! Anybody can begin investing in SKRAPS platform by following three simple steps.
- Connect Your Wallets – As a user, first you need to connect your cryptocurrency wallets which you use to make purchases to the Skrap platform
- Spend or make a Purchase - Go on spending like normal. You can decide how much you want to round up to the nearest decimal point after you have made the transaction. For example, you made a purchase of 8.678 BTC, you can round up the purchase to 8.68 BTC, 8.7 BTC or 9 BTC.
- Invest Your Change - The spare change is automatically invested in your chosen portfolio. You don’t need to do anything, but to watch your wealth grow.
Start your basic portfolio with Skraps and see how your spare change shape your future.
For more details please note the following important links:
Official website: http://ico.skraps.io/#
Token Sale: https://skraps.typeform.com/to/S7LlFO
SKRAPS Whitepaper: http://ico.skraps.io/SKRAPS_White_Paper.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=2520387.0
SKRAPS
Invest your Cryptocurrency Change into Diversified Cryptocurrency Portfolios