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HOME 2018-02-22T12:38:21+00:00

4 Great Tips for Novice Bitcoin Investors

Bitcoin investing can be quite intimidating for those entering the crypto world! Here are 4 great tips all novice Bitcoin investors should keep in mind!

If you are a newcomer to the crypto world and everything seems confusing, don’t worry as you are not the only one. There are so many people out there who have the same problem as you do. For that reason, we’ve decided to come up with great tips on how to properly invest in Bitcoin and what to keep in mind when purchasing, selling or trading Bitcoins.
In this article, we are going to share 4 great tips that novice Bitcoin investor should use to boost their chances of success. By following these 4 tips, you as an investor will be able to maximize your chances of meeting and accomplishing your goals:

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Do your research

The first thing you need to do as a new Bitcoin investor is to do your homework. In other words, you need to learn as much as possible about crypto coins, how crypto coins work, Bitcoins, how to buy Bitcoins, how to sell, how to trade, about blockchain technology, and etc. The more you understand, the better will be for you and for your investment. Yes, Bitcoin offers a rare and unique opportunity, however, it needs to be treated properly. There is no need for you to be an expert in something in order to understand how Bitcoin works. You can find everything online, every information you need is accessible on the web. So, grab a piece of paper and start writing down all important details you need to learn about Bitcoins. Do your homework right.

➢ Proceed very carefully

As you probably know, the risk is inherent to every investment you make and all Bitcoin investors should remember the fact that virtual currency is in the early stages of development, especially when it is compared to similar markets, for example, the bond or stock markets. You need to keep in mind that this is a high-risk space, regardless of the amount of information you gathered online. No one knows Bitcoin 100% and no one can’t predict how Bitcoin is going to move. So, once you have gathered all information about Bitcoins, our advice to you is to proceed very carefully. You can start small and invest a small amount of money. Don’t chace Bitcoin prices, make a plan, and play smart. You need to be patient and allow Bitcoin price to come to you.
Diversify properly – There is no doubt that Bitcoin has produced an impressive gain, especially over the last couple of years. Media outlets have created a steady stream of news and stories about successful Bitcoin investors and Bitcoin millionaires. All of these stories might convince you to put all of your money in Bitcoin, however, you need to keep in mind that no experienced investor would advise someone to put all their eggs in just one basket. Our advice to you is to diversify properly. You are the only one who gets to decide how much are you going to invest in Bitcoin. The news and the stories are irrelevant.

➢ Prepare for volatility

Bitcoin markets and cryptocurrency markets in generates are volatile and there are a few strategies that professional investors use to control the price fluctuations. One effective strategy is diversification, another strategy is buy & hold, and buy & forget which is considered to be the best strategy.
We hope these great tips will help you make the right decisions and invest smartly. Don’t hesitate to share your experience with us or share some of your personal tricks!
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WHAT MAKES BITCOINS SO VOLATILE?

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