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4 tips to guide you to trade in cryptocurrency

 

The value of cryptocurrency is increasing day by day and due to this reason, it has become very important to understand the mechanism of the entire process that has taken place. It can be a bit confusing for beginners to start trading in cryptocurrency. But here are 4 crucial things that can guide you in trading in cryptocurrency:

  1. Getting ready for a bumpy ride

You should get ready for a bumpy ride if you plan to get into the core of the cryptocurrency market. As the entire process is quite volatile, it is never stagnant at one place which makes it very interesting for the customers to carry out transactions and exchanges. Investing in cryptocurrency always has to be done on individual risk.

  1. Don’t invest more than you could afford to lose

A lot of beginners make the mistake of investing more than one can afford to lose. The market of cryptocurrency is highly volatile with up and downs every now and then. So investing more amount will always keep one in the anxiety of losing it swiftly if at all certain transactions do not take place as desired. There are even various scams which customers should always stay aware of in such a case. Exchanges that offer sufficient amount of security should always opt first.

  1. Understanding the functioning mechanism of cryptocurrency

Cryptocurrency is a decentralized and encrypted digital currency which can be exchanged and transferred between the customers through various means. Understanding the basic concepts of the functioning mechanism of cryptocurrency will help you in assessing where to invest and how much to invest when it comes to trading. Know more about it on www.cryptocurrencyfacts.com

  1. Having sufficient knowledge about the nasty traps while trading coins

Having done a background research about the various tax implications, scams and nasty traps that one could fall in while trading coins is extremely beneficial as it will help you in being aware of all these things while trading. This will always keep you alert about the problems that might come your way during the process of trading cryptocurrency.

4 incredible benefits that cryptocurrency offers

 

Cryptocurrency has gained a lot of momentum in recent years. It is basically a digital currency that is managed through the use of advanced encryption techniques known as cryptography. There are immense amounts of benefits that this digital currency offers. Here are the 4 incredible benefits of cryptocurrency that you must know:

  1. Immediate transaction and settlement

Purchasing of real-time properties includes third parties, delays in the transactions and extra time consumption in the entire process to be carried out. Cryptocurrency contracts can be designed to eliminate or add any third parties or reference data as per the requirement. The transactions can happen in just a few minutes due to the absence of the traditional asset transfer system. This is extremely beneficial for small to large scale business enterprises.

  1. The fees charged are comparatively much lower

The cryptocurrency exchanges and transactions do not charge any fees as they get compensated by the network. There is very less amount of cost incurred if any third party is involved. But unlike credit and debit card transfers, no amount of money is paid for the transaction to take place. This can help the businesses save a lot of money which is usually spent on making the transactions happen every now and then.

  1. Efficient theft identification

Theft can take place in case of a credit card transfer as complete details are provided to the merchant for the transaction to take place. But in the case of cryptocurrency, a certain kind of push mechanism is used which allows the cryptocurrency holder to only send the exact amount to the recipient with no additional disclosure of any vital information. You can get more information about it on www.due.com

  1. Global recognition

Cryptocurrency is not bound by any exchange or interest rates or transaction fees for any country which makes it very reliable to use at an international level without any hassles. It saves a lot of money for the business enterprises that spend a lot of money to make the transactions from one country to another. The entire process of the transaction is simplified in cryptocurrency due to the operation taking place at a global level.

Apart from these, there are many more advantages that cryptocurrency has to offer.

 

What to check before joining a new cryptocurrency exchange?

 

The blockchain technology is penetrating in all the major sectors. More and more new people are developing an interest in crypto trading. New blockchain technology based projects are releasing unique tokens for crowdsourcing funds. These tokens seem quite appealing because their values will rise with time. Just because of this reason a lot of people are investing in crypto tokens and popular cryptocurrencies.

Though crypto assets are not as popular as fiat, you can still trade them on crypto exchanges. You can find and join an exchange that provides the best features for crypto trading. If you are new and do not know what to consider before joining a crypto exchange, here are some tips to get started:

Security and anonymity:

Your chosen crypto exchange must provide unbeatable security features to protect your digital assets and data. Centralized exchanges are prone to threats like hacking and data loss whereas decentralized crypto exchanges offer exceptional security features. You should also consider an exchange that allows you to be anonymous while trading if you do not want to reveal true identity.

Purchase methods:

The purchase methods should be flexible. It should be up to the user that he wants to buy crypto assets by making payment via wired transfer or by using cryptocurrencies. There are exchanges that permit their users to use credit cards, bank transfer, and cryptocurrencies for buying new crypto assets. Such an exchange would be the best for your crypto trading requirements.

Supported cryptocurrencies:

Bitcoin and Ethereum are the two most popular cryptocurrencies across the globe. A lot of crypto exchanges support these two crypto assets, but there are many others. There are more than 1,500 cryptocurrencies. The number is increasing due to newly introduced tokens with ICOs. You should choose a platform that supports a wide range of crypto assets so that you can invest in various different crypto assets.

The centralized cryptocurrency exchanges have ruled the crypto industry for a long time. Many traders want to get rid of these exchanges due to the expensive trading fees and poor security. A lot of people are now joining decentralized exchanges to experience the latest crypto trading features.

The Challenges of Integrating Cryptocurrency into Our Daily Lives

 

It is fantastic to take the time and be positive about cryptocurrency and the blockchain space. It happens all too often where people are ready to jump on the negative side and crucify the entire industry because of some minor hiccups or even worse, without any knowledge at all. One question though, which pops up again and again is how to best integrate crypto into our daily lives.

What Exactly are the Challenges?

There are a few. One of the major issues is transaction speeds and the ability of different networks to handle high volume transactions well. At present, most networks cannot come close to matching speeds or volumes handled by the likes of major credit card companies. This is a major issue which greatly inhibits the adoption of many currencies for daily use.

That said, speeds are improving. This is evident from the likes of XRP, where, even though the project itself causes stern debate within the community, the network can still handle large volume transactions in a very speedy time when compared to other major cryptos. Still though, more progress is required.

Transaction Cost

Another key element when evaluating cryptocurrency prior to investment is the transaction fees which are associated. With the likes of Bitcoin and Ethereum, these have managed to increase quite significantly as the networks have become busier. This represents another big issue when it comes to regular use. How we can best reduce these costs is still a matter being debated. Currencies such as EOS though are beginning to shift the paradigm positively in this respect.

Market Volatility

This is a major concern among most users, especially those who wish to re-convert their earned cryptocurrency into fiat. Sure, currency values in every nation fluctuate, crypto though does have a tendency to move faster and more frequently. To solve this issue is complex and perhaps requires an economy which is solely based on crypto, or some type of assured backing to keep the market balanced and consumer confidence steady to avoid panic.

Should I Hire a Marketing Manager for my ICO?

With so many ICOs out there trying to capture the attentions of investors, it is very important that those behind the projects do everything they can to make them stand out. This means there is an inevitably huge push on marketing. To enact such dedication, the hiring of a professional really is crucial. That said, why should you look to hire a marketing manager or agency to assist your project? – Here are a few reasons:

Cost vs Reward

When considering this choice, you must think how much you are willing to allocate in terms of budget. This means, how much of the budget you are willing to dedicate to marketing as a whole for the project, and of this amount, how much you can set aside for a marketing manager. ICOs in the current climate require skilled marketing more than ever, and it is not uncommon to see projects allocate over half of their funds to marketing. If you are confident of success, then the salary of a skilled marketing manager will repay its cost multiple times over.

Time and Expertise

Time management is essential in any project. There are so many things to do and simply not enough time to get them done. This means you have to be smart with your planning and allocation of duties. Marketing is a time intensive activity which should ideally be left in the full-time care of a professional to allow you to focus on other areas.

Reputation

Reputation is a big talking point in the ICO world these days, with many accusations that influential platform members from the likes of ICOBench have been distributing their highly weighted “expert” ratings to projects in exchange for payment. This is unethical to say the least. A marketing manager can add a tangible layer of trust among your team which will enhance the overall value the investor sees in the projects. Again, this should ultimately lead to a more successful raise of funds.