New to Cryptocurrency? Here are some helpful tips
Cryptocurrencies ( blockchain technology ) are the best thing that happened to the common masses after the internet leading to a new industrial revolution , creating news skills, new millionaires / billionaires and most importantly, reducing poverty from developing countries.
Conversely, however, this has not been an easy ride for new comers who do not have the skills or guidance on ways to proceed. Therefore, in this short article, I will outline few points that will help new comers succeed (established people too) who want to improve on their wrong strategy. Here are some few points:
Undervalued coins / tokens: It is great to focus on established leaders like Bitcoin, Ethereuem et al however , in order for you to hit the jackpot, you have to look for undervalued new tokens in their infancy – click and see my my former post : The Amazing Power of an Opportunity: Steem Power and Ethereum Lyte (Elyte) which will be a future top token. Reason is that you can get these tokens/ coins very cheap and make millions of dollars holding long term. Moreover, learn how to use coinmarket cap link https://coinmarketcap.com/ in your analysis of new coins / tokens –including a comprehensive analysis of any tokens you are interested in (except those in ICO or not listed yet) .
Steem power: First keep your steemit password and key safe and back it up. Then learn how to post great contents, upvote great contents and comment accordingly (be respectful and avoid comments like good / great post , vote for vote or follow for follow bot like comments) because doing these factors right will earn you good steem dollars including steem power. Moreover, join the amazing communities here on steemit and make new friends ( a lot of great people here). Above all these is steem power-do not forget to take up any opportunity you have to acquiring steem power and powering it up -reason is that you will get more rewards on your posts and upvotes including a good investment in the future of social media.
Learn to do it yourself: Learn to take your destiny in your hands and be wise while doing it. Reason is that most of us over trust other human being especially companies that are not 100% secure like revenue sharing firms that are based on Pyramid or Ponzi scheme (avoid them) , mining firms (there are some great ones however you can mine yourself) , centralized wallets ( some are great however you can get offline wallets which are more secure .
Moreover, use password manager and 2-factor authentication ( google) in securing all your accounts. Importantly, for day traders, never buy a coin or token that is pumping so high because traders can dump any time and take profits rather buy when price is low and sell when price is high : . "Be fearful when others are greedy, and greedy when others are fearful" - Warren Buffet .
Now is your turn: do you agree that being an early investor in a top crypto is great? Send in your comments - upvote to send in your support and resteem in order for your contacts to join the discussion.
Click here and read my former post : The Amazing Power of an Opportunity: [Steem Power and Ethereum Lyte (Elyte)]
Note: Back end developers with blockchain experience should contact me
Too many newbies getting burned and following the hype due to FOMO. Always make sure you know what you're investing your hard earned money in!
Good point, hence why you have to do your due dilligences before investings...however remember that bitcoin was called a scam and some who bought and hold long term are all smiles now isnt it?
Great advice! Yes, I do agree that investors should get in as early as possible. They should also be sure to research and read everything about the token/coin, company, and even the leaders in the company, BEFORE investing, also, do they have experienced devs, marketers, etc. It's like anything else in life, if you try hard enough and put in the work, you'll see success...only Cryptos are not for the faint of heart:)
From what I have read, I completely agree with @charles1, Elyte will be huge...get in early!!!
You are welcome and thanks for your great comment..as I indicated in my post, such prudent comments get people upvotes. Yes, Elyte is new and people who see the light now will smile next year...more success to you and hey, see my former post for more tips....success.
great post as always @charles1
you did great! very nice insights and a good example of a great new comer! Elyte is the next big thing.
welcome am sure elyte will do great
Sure. Elyte all the way!
Great post it took me weeks to find all this out.
Sharing is caring!
This is my first day here on Steemit and I was looking for a post just like this one because I need to learn more about criptocurrency and it is really interesting what you write about looking for undervalued new tokens so we can hit the jackpot in a determined time in the future.
welcome to steemit, scroll down and see my older posts on more ways to succeed here. Also check my former post for a top new token...success to you.
My tip, do your research before buying any crypto coin. Always keep an eye on the news if you are into trading. Have a crypto tracking mobile app installed so that you can keep track of the rates. Don't sell in Panic if you are looking at long term ROI. remember all crypto coins are volatile, only invest what you can afford to loose.
Good point, you summarised it well. Are you a day trader?
Yes i am, i focus on small coins, i buy small coins with potential in large amount, so when a coin i bought rises i can recover all of my losses and get some good chunk of cash :)
Thanks for the valuable advice, I have long wanted to invest in crypto-currencies that are undervalued and have a growth perspective ... for example the waves
Good point, welcome -see my former post for a very good one...I wish you success.
How do you analyse a token to be undervalued for a layman in technology?
see my former post for an new token in its infancy...
Good advice. It's those cheap undervalued tokens that will make your fortune!
Amen to that, great that you know the secret already (Elyte hahah) ...about to check out my favorite post: Thursday with uncle boom!!!!
It's a good uncle boom this week!
And yes, elyte shite be a good one!
Elyte to the moon!!! What a beautiful read from Uncle boom...felt like 007 however more gentleman like..hmmmmm
I have a few coins that aren't doing much but you really have to wait, it won't happen overnight
You are absolutely right...holders of great coins make big money in the long term...never think short term..also see my former post for a top new token ..a good one too.