5 Things to know when you invest ( #1)

Investing in cryptocurrencies comes with its own risks as well as rewards. Therefore, you need to invest strategically in order to maximize your return on investment and minimize your risks. There are specific strategies you need to adopt to ensure a successful cryptocurrency investment and building your portfolio.

There are 5 things to know, which may come in handy for you especially if you are relatively new to the cryptocurrency realm.

1. Understand the whole concept of cryptocurrency

2. Spy on the market

3. Invest in more than one coin

4. Start small and scale higher

5. Reallocate your investment Firstly, it is important for you to understand the whole concept of cryptocurrency.

Always keep in mind that you do not simply invest in something you are not sure and uncertain of. Do not jump on the bandwagon and follow what other people are doing just because you fear of missing out. For instance, a lot of people see their peers investing in property and they just follow suit in hopes to generate millions without even conducting prior research. Therefore the first thing you ought to do is to study the space.

These are the important points to be digested before kick-starting your investment:

· What is cryptocurrency?

· What is Blockchain Technology?

· What is Bitcoin?

· What are the other popular digital currencies?

· What are the coins market caps?

· How can you start your own cryptocurrency exchanges?

· Where can you make cryptocurrency exchanges?

Take your time to understand the realm of cryptocurrency and don’t rush the process. It may take weeks or even months to digest all the information but this step is imperative for you so you can be on top of the game and an expert in the field. This way, there’s a very low chance for you to waste your resources as you are familiar with the cryptocurrency industry.