Monday, 04 April 2022 02:51

Five facts you should know before investing in Bitcoin and other cryptocurrencies

Written by Evelyn Alas

At some point, you may have been curious to learn more about the world of cryptocurrencies and to make an investment in them, but do you know how to start an investment in Bitcoin? If the answer is no, in this article we share with you five steps you should follow to make your first investment from fiat to crypto on the blockchain.

The first question a new cryptocurrency user asks is when is it a good time to invest for the first time in crypto? And the answer is always. It is always a good time to start, since we will never know exactly how a cryptocurrency will behave; although it is true that speculations can be many and predictions according to market analysis regarding historical highs and lows may seem accurate, there is never a 100% probability of being right in the behavior of a cryptocurrency, since its fluctuation depends not only on a graph or supply and demand, but also on the current global news. That is why it is always a good time to start.

The only thing that stands between having cryptocurrencies or not, is the lack of knowledge of how to acquire them, which is why we share with you these five steps so you can get your crypto portfolio health

  • Digital equipment: We all currently use technological devices that allow us to be connected to the digital, and to access the blockchain network it is necessary to have a smartphone, a computer or a tablet.
  • Wallet: It is important to choose a wallet that fits your needs, for example when we talk about storing cryptocurrencies to exchange, we immediately think of Binance Pay, because it is a friendly platform that does not charge transaction fees.
  • Choose the exchange you trust: When we talk about an exchange that transmits trust, experts always recommend Binance, because on the same platform you can buy the cryptocurrencies you want, store them and trade them through the multiple options it offers.
  • Use a capital that does not put your patrimony at risk: This is key so that your investment is not forced, remember that investing today is not synonymous with withdrawing to spend tomorrow, generally investments are long-term, for that reason do not invest money that you already have destined for payment of basic services, but rather, invest that amount that is stored in the bank without taking advantage of it.
  • Be constantly informed: Information is power and therefore the more informed you are, the greater the opportunity you will have to grow in the world of digital money.