Crypto Investing When is the Right Time?
Cryptocurrencies largely popularized by bitcoin are becoming more and more appealing to the average person's eye. Seen as a long term investment by the US Federal Government and a profitable endeavor for many. It remains one of the largest partial currencies out there. The uses for blockchain technology are developing more and more each day with new ideas coming to light. Buying however can be a challenge provided you know little going into it. The basic premise behind investing is buying low only to sell high. This remains the fundamental reason people do it. Buying crypto currencies is much like buying stock however stock you might see gains of 2-3% on a good day while a crypto currency could jump by 10-15%. But this comes with the caveat of being subject to an extreme fall as well. This means that while all this money could be made it could also very easily be lost at the drop of a hat. Crypto currency having no physical backing subjects it to the influence of the investors or regular people. Should a law be passed that hurts crypto people may want to take their money and leave causing a price drop. Should there be something beneficial happen in the crypto world the price could rise incredibly high. This leads us to the question... When is the right time? The right time is when they are formed. At a coin's inception there are often very few who have and collect the coin meaning that overall acquiring large amounts is relatively easy and can cost less than if the coin was fully developed. Unless you buy in the middle and are in for the very long haul to make some money back the best option is to buy young. However should you decide to do this make sure the coin is actually legitimate and don't spend money on something that is not produced or actually acquirable. Over $1 Billion has been stolen in the hopes of finding new coins so make sure the coin you decide to buy is actually real.