5 Things to know when you invest ( #4)

The fourth strategy is to start small and scale higher as you go. A lot of people assume you become instantly rich when you invest in cryptocurrency. However, that is not always the case. You don’t just become rich once you choose to invest in cryptocurrency. There’s a strategy and a learning curve to get where you want to be. Therefore always remember to start small, especially for those who have a small risk appetite.

Cryptocurrency values are very volatile in nature as it depends on many factors. The values fluctuate even more in this cryptocurrency season where many people are starting to trade digital currencies. For beginners, the rule of thumb is to start investing $500 for your cryptocurrencies. You don’t necessarily have to start investing thousands! Now that you have your $500, how do you divide the money and what currency do you start to purchase first? Firstly, remember to sign up for your digital wallet, and deposit your fiat currency and purchase the top 2 cryptocurrencies; Bitcoin and Ethereum. The reason why we’re selecting the 2 is because they are the safest and established choice as compared to the other currencies. They are prone to fluctuation, but not as much for now. So, you split the $500, and purchase $250 worth of Bitcoin and $250 for Ethereum. This is a smart way to do it and if there are chances of you losing any of your funds, the risk is still worth taking. When you get the hang of it, you can scale your investment higher by purchasing your cryptocurrencies in a higher value