If you want to invest in cryptocurrency but don’t know where to start, this article will be helpful.
The cryptocurrency market is moving down amidst the economic crisis in the world. Many investors see the opportunity to buy crypto at low prices to gain income later when the market trend changes.
So let's talk about critical things before you engage with cryptocurrency investment.
Pick An Asset To Buy
Investments in cryptocurrency means you buy an asset for the long or short term. Investigating different assets to understand if they are worth buying is a good idea. Check out the following factors:
The team of developers. Who stands behind the project? What problems does the project solve? Who are backers? Check out the project partnerships.
Read the social media pages of the project. Are there regular publications? Is the community active?
Are there sessions, quizzes, or maybe some competition for community members? It is crucial that the project founders openly communicate with the community.
Read the project’s Whitepaper, especially if it is a startup.
If you want to go a simpler way, you can buy one of the most popular cryptos like Bitcoin, Ethereum, etc. These assets have a solid foundation and lived through many ups and downs. They proved to show stable growth in the long-term perspective.
Pick An Exchange To Work With
Investing in cryptocurrency is closely connected with crypto exchanges. Pat attention to large platforms used worldwide: Binance, WhiteBIT. They operate officially and comply with regulations and laws. The level of your fund's protection is maximum when you register on such an exchange. All due to complex mechanisms implemented in platforms. All users have to pass verification before accessing advanced tools. Besides, clients set two-factor authentication for better security of their accounts. Also, large centralized platforms offer lower fees and a comprehensive list of trading tools.
