WANT TO CATCH THE BITCOIN BOOM BUT NO MONEY TO INVEST?
We May Have a Solution
FIRST WE LOOK AT 2017 IN CRYPTOCURRENCY
For all you veteran cryptocurrency traders and investors – I'm sure 2017 was a very profitable year for you.
This article however, is directed toward the new and less experienced cryptocurrency investors.
At this point I need to insert the mandatory investment disclaimer as follows:
Disclaimer: This article is not intended as investment advice. cryptocurrencies are risky. Never invest more than you can afford to lose. Always seek professional advice before making any investment.
MY OWN EXPERIENCE WITH CRYPTOCURRENCY INVESTING
The following are just some of my own experiences and what I have learned over the past three years in the cryptocurrency realm.
I started out as a trader and learned all the skills necessary from every source I could find. I used all the tools of the trade such as Bollinger Bands, MACD, RSI etc. and proceeded to launch as a day trader.
I started getting up at midnight so that I could catch the Chinese and Japanese volume.
I learned margin trading using leverage and found that it could be not only very exciting but also very strenuous.
As a day trader using margin leverage I found that you can easily make $1000 per day in profit.
However, those are your good days and you can also lose a sizable amount on your bad days.
Because I have other businesses to run I found that it is quite difficult to be a day trader.
BITCOIN AND CRYPTOCURRENCY PRICE SURGE IN 2017
Let's take a look at the cryptocurrency history for 2017.
I am referring here to an excellent article by @Bitgeek "Top 50 Cryptos at 1/1/17 - where are they now" and I will use some excerpts from the article here.
Some of the returns on investment (ROI) have been mind blowing. For example take a look at NEO with a percentage gain of 32,634% for year to date.
The over all growth for the top 50 Cryptos for 2017 year to date is 4,249% as a weighted average.
So as can be seen from the charts, if one had merely invested a relatively small amount in each of the top 50 cryptocurrencies at the first of the year 2017 and merely held them; then with a weighted average of 4,249% you could have a very nice little profit.
So it's merely a matter of your personal temperament and ability to handle stress as to whether you decide to day trade or just sit back and be a long term buy and hold trader.
Now we come to the point of just how does one new to cryptocurrencies get started.
For one thing you've got to have the capital for investment.
HOW TO GET THE MONEY FOR INVESTMENT IN CRYPTOCURRENCY
If you've already tried borrowing from friends and family and been told you're crazy for getting involved with that Mark Of The Beast Bitcoin.
Then you moved on to your friends who are also broke but wished they could get involved also.
Maybe you've even thought of selling some of your assets, probably not a bad idea, but is there any other way to raise capital?
What About a Line Of Credit?
Here is a link to a source that might be something to consider. It's a line of personal credit that you may use as needed and only pay interest on the amount that you have used. You can also continue to pay it down and redraw as needed.
Now the only rub is that you or your friends will need fairly good credit and a 650 FICO Score minimum.
Check It Out Here: Unsecured Personal Lines Of Credit
If you own a business you may also want the check out an Unsecured Small Business Line Of Credit
Image Source: coincentral.com image
Links:
http://diversifiedbusinessfunding.com/business-startup-funding/
http://diversifiedbusinessfunding.com/unsecured-personal-loans/
https://steemit.com/steemit/@bitgeek/top-50-cryptos-at-1-1-17-where-are-they-now