Is The CryptoCoin Market and related Tech our Future?
These days it seems everywhere you look there is some new cryptocoin coming out, each one with a new "fresh" idea or product based on Blockchain Technology promising to revolutionize our monetary and technological future.
/play crickets
More coins than Mario can shake a stick at!
At the time of this posting there were 895 crypto-currency coins listed on the coinmarketcap.com website alone!
https://coinmarketcap.com/all/views/all/
That's not even taking into consideration the ICO's popping up like forest mushrooms after a rainy night...
IC...what?
Countless Initial Coin Offering popping up everywhere, every day!
aka: ICO,IPCO
Crowdfunding and kickstarting a digital asset
Analogous to Initial Public Offering, which represents the moment when a private company is offered to the public for the first time. Unlike with IPO where stocks are issued, crypto tokens are created and divided among the crowdfunding participants.
source: https://tokenmarket.net/ico-calendar
Existing and future Cryptocurrencies with all types of promising technology and new ones being created everyday, just the thought of having to research and choose the next winner can leave even the most hardened day trading shark whimpering in a corner like a upset little child with affluenza.
If you do a little research into most of these coins and their tech offerings you will form a general idea that most are either, similar copies of each other with slight modifications or they exist only for quick pump & dump schemes.
I mean when you think about it any group of people could get together to "develop" a coin, write up a cohesive whitepaper for a tech idea, put together a website with sparse info and loose lipped promises on a road-map sit back and collect millions from an ICO without in theory having to give back anything to anyone....r-right?
There are some exceptions of course that would require some good research and of course more importantly... luck
So Which coin do I invest in that will buy me that Lambo or at very least a nice base model Subaru Impreza?
This is a hard question to answer, the market is extremely volatile to date and there are too many coins to choose from.
However if you must invest take note of the most stable and proven coins available:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
So let's say you do decide to invest in some coin you've researched and think will be a good investment.
To start you will first need to get your hands on some BTC, ETH or LTC, then find a reliable exchange site to start your journey to untold riches.
But you will find the market to be a cold fickle mistress. One minute your 500$ investment just became 2000$ and the next day (or hour) you have. . maybe. . 50$. . before exchange transfer fees.
Ironically the most stable, highest market value coins out there right now such as BTC, ETC & LTC are always bought to then be spent on newer, untested and possibly volatile altcoins when in reality should be held on to.
Some traders fair very well though and I am certain there are some out there making lots of money.
A famous trader - who's name I will not mention once said:
Cryptocoins. What a bunch of cr@#?!
- A famous trader
Success in this market depends on the strategy used
Many methods are used in Cryptocurrency Market trading, similar to real world global markets and stock trading.
Here are some that have been noted in the wild.
Buy high, sell low
This works well if your timing and strategy is right. Lots of volume helps.Arbitrage
Many successful traders do it daily.
The simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.
Margin Trading
Borrowing from brokers (exchanges) is always risky if you don't know what you are doingCopy Cat Trading Crypto/Real world stocks
There are some sites out there that allow you to invest cryptocurrency such as BTC into global markets like Forex, commodities, etc., in addition they allow you to copy other members trades.
re: 1broker.comBuy high, sell low
This of course is not a good strategy but one where most new traders find themselves oftenBuy and HOLD
As it says, buy a coin you believe in and hold on to it until it moons.Don't invest in crypto
Time proven strategy to save your money and sanity
A well known cryptocoin creator - who's name I will not mention once said:
Why would I buy bitcoin? If I wanted to diversify I'd go into fiat, real estate, stocks, that sort of old world stuff
- A well known cryptocoin creator
So? What do?
I'm by no means an expert on any of this, just been mining and trading since 2013 for fun and interest.
Crypto coins and block-chain technology have always fascinated me and truly believe in future use.
I believe one day it will be used to better our lives by providing efficient/secure currency services and allow for advanced technological developments.
Would be also nice to see a few coins I hold turn into some good money ;)
What are your thoughts on the cryptocurrency market at present?
Is there a future for block-chain technology, are you "investing" (gambling) in crypto?
Would love to hear your comments and thoughts.
Good luck with your crypto adventures!
Show some love and upvote this post and follow me I will follow you back!
See you all at the lambo dealer!
Cheers!
great post, followed, cryptocurrency is the next revolution in the payment and finance industry, wait until stock brokers are selling cryptocurrency, then the market will fly to mars
Disclaimer: I am just a bot trying to be helpful.
great analysis! got a new follower+upvoted+resteem!
@quadrumtanium Thanks for good post
I'll be at the Ferrari dealership!!
Nice intro for beginners but we need more info on low value altcoins. XRP is the only one in the list that you can afford to buy in bulk right now. No bulk....no Lambo :)
Thanks for the share