Cryptocurrencies took the world by surprise over 10 years ago, and they have been evolving greatly recently. Today, there are thousands of different cryptos you can invest in, and the best part is that all of them are unique!
Whether you want to trade Bitcoin, LiteCoin, or even DogeCoin, there are several methods you can use to acquire them. 10 years ago, not many people traded cryptos because they were too complicated to understand and most of the general public didn’t trust them.
However, thanks to the investments made by some people, these coins have grown exponentially, allowing the general public to trust and gain interest in investing in cryptos. Mainstream media also got interested in cryptos, which is why you’re now seeing so many news portals talking about them from time to time.
While everyone talks about how cryptocurrencies are a great financial option, not many people talk about the process to acquire them. Unfortunately, there’s a significant amount of misinformation when it comes to cryptocurrencies, which opened the door for scammers and many inexperienced traders making poor financial decisions.
Overall, cryptocurrencies had significant growth over the years, but that also brought several obstacles that investors have to go across if they want to enjoy the benefits that some of the coins provide.
A cryptocurrency is a digital or virtual asset you can exchange on the internet for some goods and services. You may look at cryptocurrencies as digital cash. These assets use a secure online ledger with complex cryptography to process and secure every transaction.
One of the most remarkable things about cryptocurrencies is that they’re unregulated or “decentralized.” This means that no banking or government agency can manage how you execute your transactions. Thanks to this feature, many people trade cryptos for profit using speculation.
Today, the most popular cryptocurrency is Bitcoin, which was also the first cryptocurrency in history. It reached its all-time-high price of $66,500 in November 2021.
Crypto transactions work with Blockchain, which is a decentralized network spread across several computers worldwide. In the Blockchain network, these computers managed, verified, and processed each crypto transaction happening at the moment, making it a much more secure process than with traditional currencies.
As mentioned before, there are several reasons why people love cryptocurrencies and the way they work. While they’re still a new asset and need some work to get accepted worldwide, many investors today use cryptocurrencies as an alternate payment method for international purchases.
First, many investors see cryptos as the “future of economics,” due to the exponential growth these assets have had over the past few years. To make sure these investors get a piece of “the future,” they race to purchase these cryptocurrencies before they increase in value.
On the other hand, some people prefer cryptos over traditional currencies due to security factors. Keep in mind that crypto transactions don’t have to deal with central banks, meaning your assets aren’t subject to general inflation or transaction verifications. Additionally, the Blockchain network has proven to be much more secure than traditional payment platforms.
Finally, cryptos are highly popular for people who are looking to make money in the short term rather than the long term. There’s no way to predict the value of any crypto in the future, which is why some investors prefer to make the most out of them today.
While there are many benefits for crypto investors, some people still debate whether investing in those assets today is a good option or not. Some people even believe cryptos can’t be considered real investments and should be seen as speculations; this is because cryptocurrencies don’t generate any cash flow.
Many financial experts claim that for an asset to be considered a currency, it needs stability, which is something not many cryptocurrencies have. Instability can cause several problems in the future; if a cryptocurrency increases its value way too much in the future, not many people are going to be willing to invest in it today since they could be missing out on future earnings.
However, investing in crypto can be an excellent choice if you set your goals accordingly and pay attention to trading guidelines, such as the following:
In conclusion, whether investing in cryptos is worth it or not depends on you. If you’re looking at cryptos as a way to become a millionaire overnight, investing may not be the right way to go for you. On the other hand, if you’re looking for a way to learn more about these exciting assets, consider giving investing a chance.
It depends on the country. In countries such as the United States, Australia, or Canada, investing in cryptocurrencies is entirely legal. However, countries such as China, Russia, or Vietnam have banned cryptos as payment methods, although some people still make transactions illegally.
We don’t recommend that you invest in cryptos illegally since that could bring too many problems in the future. Thankfully, many countries are starting to accept cryptos as a payment method or commodity, so it’s a matter of time until most countries give a chance to these assets.
If you want to know if cryptocurrencies are legal in your particular country, you may do a quick Google search to verify.
First, you need to open a “crypto wallet” before you start making any transactions. These digital wallets allow you to transfer real money and store as many cryptos as you want. As opposed to traditional wallets or bank accounts, a crypto wallet is heavily encrypted for your safety; each one comes with unique access and transfer keys.
If you lose any of those keys, it may be challenging to recover your cryptos since the point of crypto wallets is that it’s almost impossible to access them without a private key, enhancing security.
The most popular way to acquire cryptocurrencies is through a trading exchange. There, you can create an account, transfer your fiat currencies and get cryptos in exchange. In some cases, you have to pay for the platform’s transfer or administrative fees.
In case buying through an exchange isn’t for you, you may choose to mine cryptos or trade them. In mining, your job is to verify and process crypto transactions, giving you a portion of crypto in return. While the task isn’t hard at all, it requires a significant amount of processing power and electricity.
The average user doesn’t have access to that amount of power, which leaves them with the trading method.
In essence, cryptocurrency trading involves speculating on crypto’s price movements through a CFD account or an exchange. In the case of CFD trading, you don’t have to own the underlying asset to execute a trade, making trading a much safer space.
On the other hand, trading through an exchange involves buying the cryptos and store them until you want to sell them. The point, in this case, is to make a purchase when the coin’s price is low and sell it when its price increases.
Both options are viable if you want to begin trading, although you must approach them carefully to avoid mistakes. Keep in mind that trading is a high-risk activity with a significant amount of volatility, meaning you can either recover your investment fast or lose it completely in a couple of minutes.
To execute better trades, traders create what is known as a “trading strategy.” There, you follow specific criteria or guidelines to determine whether a trading decision is good or bad. In most cases, to create a trading strategy you need to define several items, such as the market you’re going to work with, entry and exit points, time frame, trends, and more.
Without a trading strategy, you may be exposed to all the potential risks that come with this activity. Thanks to CryptoRobo’s trading app, you’re going to be able to prepare your trading strategies in a much faster way than traditional trading.
In every scenario, crypto markets change depending on the supply and demand of a particular coin. However, keep in mind that cryptos are decentralized, meaning their prices aren’t subject to political or economic events that typically affect traditional currencies.
Here’s a list of some factors that influence how the crypto market behaves at a particular point in time:
If you’ve read about cryptos, you may also have come across the terms “trading app,” “trading robot,” or others. These apps have allowed users to execute more accurate trades thanks to powerful computer algorithms that continually monitor the markets.
We developed CryptoRobo with the purpose of giving you all the tools you need for a better trading experience. Traditional trading can easily get overwhelming for many people, and we’re here to assess the issue.
To use CryptoRobo, all you need to do is set your trading parameters for the day, including your entry and exit points for your positions. Once you’re finished with your strategy, you’re going to let CryptoRobo’s algorithm take over and find the most appropriate trades based on your needs.
Using a trading app can give you a slight advantage over traditional traders since you can study your trading strategies while the software looks for trades simultaneously. However, keep in mind that no trading app is perfect; you still need to do research and verify whether the trades found are worth it for you.
Trading apps remove the common stress and anxiety that regular trading tends to cause. If you’re not a fan of getting frustrated with your trading sessions, we invite you to give CryptoRobo a try.
One of the best parts of CryptoRobo is that it adapts to every trader type. You may establish or update your trading strategy as much as you want until you find something that works for you. If your strategy didn’t go well in your first trading session, you may adjust it for the next without any problems.
If you’ve decided to start your trading journey with us, congratulations! Creating your account is the first step you must take, and it’s also the easiest one. Depending on the case, it may take from five to 15 minutes to get everything ready to go.
There are three primary steps you must take before starting to go live trading with CryptoRobo, so make sure you follow them correctly to avoid problems with your account:
While creating an account at CryptoRobo is free, you must still make an investment. Remember not to invest more money than you can afford to lose. As you get better with your trading, you’re free to invest higher amounts of money if you want.
Need additional information about cryptos or CryptoRobo? Read the following FAQ section!
Yes! CryptoRobo is entirely free for every user who wants to try it out. However, keep in mind you have to invest to begin trading. The investment amount can be anything you want, as long as you’re comfortable with it.
Generally speaking, you can expect a reliable tool for traders to improve their skills over time; this is not an app that can make you rich, so keep that in mind before creating your account.
An automated trading app can be one of the most reliable resources you can have to get better at trading. However, you must use it wisely if you want to get the most benefits from it.
Whether you’ve been trading for years or are just starting today, we want to help you improve your trading with CryptoRobo. If you’re ready to begin, register now and get to work!