No doubt crypto is the quickest currency that reached the milestone in no time. But at the same time it is the most volatile currency that is still not stable. In comparison to share market cryptocurrency is far more volatile currency. Therefore it is necessary to calculate the money you are going to spend or invest in cryptocurrency.
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How to research which crypto is best for investment
Before investing any money into cryptocurrency one should research about the particular coin for months. If your are puzzled what to research about the asset, don’t worry I am happy to guide you. First visit the website called coinmarketcap.com then check the price chart of the coin you selected for investment. Pay attention and check the current price duration note the growth and fall of the coin from the current price. You should research about the coin and people connected to the coin. Check the current projects of your cryptocurrency and also check the past projects of the currency.
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Deeply analyze whether your selected cryptocurrency team has completed the previous project. Moreover, analyze which kind of projects your asset is involved within. However, cryptocurrency market is down but some cryptocurrency are still attracting people due to their current projects and future plans. Dogecoin is one of the most popular cryptocurrency which is being accepted by many merchants, companies and countries.
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Shiba inu coin is another asset that is doing well due to its superb community and projects. However, almost all cryptocurrencies are going through the downfall phase but some of the top coins are investing their time into top projects like Web 3.O, Metaverse etc. So it becomes more important and you have to check whether your coins are utilizing this down phase by adopting top projects.
How much money should I invest in Cryptocurrency in 2023
Cryptocurrency is one of the most volatile currency which can’t be predicte. When it comes cryptocurrency vs share market then undoubtedly cryptocurrency is far more income generating asset but at the same time it is plenty of times more risky than the share market. Due to high risk and unstable prices you should think wisely and practically.
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You have to accept that you are not that person who can win by luck by chance million dollars overnight. I am not saying that not saying that you can’t become a millionaire by investing money in cryptocurrency. What I want to say is that you can also become bankrupt while investing all your necessary money without any planning and calculation.
Hence, it is Advised that you should only invest the money which you are spending on bad habits like eating burgers, drinking cold drinks etc. The answer is very clear: you should invest all your extra money which will not affect your monthly income and savings. Investment is compulsory whether you are investing in cryptocurrency share market or in other assets. Keeping the money into the bank is not a wise thing; Although banks also give some interest on keeping the money but it will never give you satisfactory returns. So investment is necessary but you should invest wisely not emotionally.
How many coins should I buy in the beginning?
It is advised to make a portfolio and arrange coins of different categories after a good research work. Don’t buy a single coin with huge amount, instead you divide your amount and buy 5 to 10 coins after in-depth research work.
How much money do I need to start investing in cryptocurrency?
Due to the high risk and volatile nature of cryptocurrency it becomes risky and unpredictable. It is advised that one should invest only that money which he or she is spending on bad habits like eating burger, pizza, pattez, momoz, drinking cold drinks etc.
How to find in which cryptocurrency should I invest in the beginning?
You should look at the current projects of your selected cryptocurrency in which you are investing. Also keep an eye on the future projects of the selected asset.
Is cryptocurrency safe to invest?
No cryptocurrency is not safe to invest at all so it is requested to invest your extra money into cryptocurrencies which should not affect your home and financial life.
Name some cheap coin which I can buy for long term investment?
Don’t eat burgers for some time and invest the extra money in baby doge coin, shiba inu coin, doge coin, BitTorrent coin, bat coin and siya coin etc.