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How many of you have invested in cryptocurrency?
- Thread starter vpatella
- Start date
Ronald2505
New member
I'm into cryptocurrency but I have'nt invested yet because I am finding the right and legit site that will give a big return of investment.
jaybee19
Member
Hi everyone. I'm actually interested to cryptocurrency, however I lack all the basic knowledge about it and so I was wondering if you could probably educate me about it. Even just the basics, if it's okay with you. I actually want to know how it works and what can I do with it. I also want to know what legit sites are good for investing in to cryptocurrency.
I'm very interested in cryptocurrency, I'm a bitcoin collector and also the other cryptocurrency and altcoins. Well for me, I think is a good investment, all you have to do is to wait. But honestly, I'm not investing my money in crypto, I'm just collecting it from some faucets, and then and all crypto I collected become investment to some mining sites.
vpatella
New member
The proper way to begin learning is to learn about Blockchain, which is the basis of basically all cryptocurrency. Many people skip this step because they are eager to invest, and cannot even tell you what Blockchain is. Google should be enough to get you started on that.
Apart from that, you need to join a currency exchange that can somehow convert your USD or respective currency (or 'fiat') into cryptocurrency. Keep in mind that I live in the US. A popular one is Coinbase, because it can directly convert your fiat to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), or Bitcoin Cash (BCC) (arguably the most popular currencies besides maybe BCC). There are some complaints about Coinbase, including allegations of insider trading, to keep in mind.
From an exchange like Coinbase, you can send your funds to a larger exchange that trades a larger variety of currencies. Binance, which is based out of China, seems to be the most popular from what I've seen. Most legitimate exchanges require you to verify your identity to trade with them. There are plenty of resources that explain how trading works and how to use individual exchanges.
Important to note is how volatile the cryptocurrency market is. You cannot simply transfer trading advice from stock trading over to the cryptocurrency market if you are planning on investing. You can, but you will most likely get burned. The crypto market is somewhat of an archetypal Wild West at the current moment in time, especially because of the controversial "bubble burst" back in January. Lots of research is required to stand a statistical chance, and getting rich quick is not something that should be on your mind.
Those who show more interest in the technology itself rather than how to make money tend to fare better. There is more to cryptocurrency than just trading for a profit. Many coins have no valid use case, but some of them have the potential to change the Internet.
MariamAspirants
Member
We have not invested in cryptocurrency.
My husband believes that it is too risky/unstable to take part in it.
I believe that i is too risky/unstable to take part in it now. If I knew about Bitcoin many years ago, I would buy 1 or 2 for a small amount of money. Then, I could withdraw a much bigger sum several months ago. As for now, this topic has become viral and it is not 100% profitable to enter the market.
The latest news about advertisements on social media, significant changes in the price and fraud plays keep me aside from it.
If you really want to deal with cryptocurrencies, join Steemit. At least, you will not lose anything.
My husband believes that it is too risky/unstable to take part in it.
I believe that i is too risky/unstable to take part in it now. If I knew about Bitcoin many years ago, I would buy 1 or 2 for a small amount of money. Then, I could withdraw a much bigger sum several months ago. As for now, this topic has become viral and it is not 100% profitable to enter the market.
The latest news about advertisements on social media, significant changes in the price and fraud plays keep me aside from it.
If you really want to deal with cryptocurrencies, join Steemit. At least, you will not lose anything.
You're right. It's really hard to invest on something that you can't even hold on to your hands like the cryptocurrency. This virtual currency is very risky to invest. That's why you need to become risk taker and believer in this business, however risk taker and believer is the two ingredients to become successful in life and to get what you want.
EfficientNinja
Member
I don't think I would call myself investing in cryptocurrency. I only take advantage of the volatility and trade on swings. Buy low and sell high, as they say. I only trade a small amount of crypto for fun. 
kd06
New member
Same here. I too is still finding the right and legit site that really returns investment. As a newbie in these type of world I am still studying all aspect and refrain from jumping aboard on sites that are not sure if legit. There are thousands of sites that offers invest-wait-and-earn, but in most people I heard of being scammed with their money. Other sites too pays you back at first but eventually stops doing it. So as of now I am with free faucets only.
EfficientNinja
Member
I don't think it's a good idea of investing in sites that offer you interest on a daily or annual basis. I think 90%, if not all of them are scams. You should go have a read on Bitconnect and look at how many people they stole money from. Faucets are fine and I just started this week and I'll see how well this goes. You should research on how to trade cryptos using technical analysis.
junrose123
New member
I also love cryptocurrency for some reasons but honestly I have never tried investing real money from it because I am afraid that I might lose my hard earned money from it. Maybe if there should one that I would invest is I think the time and patience only in claiming to some faucets because I want to earn free from it although the earnings are just small but still worth it for having it during my idle time. Maybe I f I have a lot of money then for sure I would try to invest from cryptocurrency in the future.
kd06
New member
Good point. Thank you. Gonna check Bitconnect like what you siad.. I really am having lots of doubt on investing specially that now that Bitcoin is going so low. I am still learning on the trading part though.I don't think it's a good idea of investing in sites that offer you interest on a daily or annual basis. I think 90%, if not all of them are scams. You should go have a read on Bitconnect and look at how many people they stole money from. Faucets are fine and I just started this week and I'll see how well this goes. You should research on how to trade cryptos using technical analysis.
JackOAT
Member
Bitcoin allows users the option to make financial transactions at lower fees than the traditional online payment mechanisms. As a user, bitcoins are helpful in facilitating financial transactions with minimal fees. For me, the potential gain in BTC is more than the potential loss and this is because several crypto-analysts have speculated that bitcoin could become a global currency in the future though it is very hypothetical. If this becomes reality, then it will stimulate international trade all around the world. I'm using it and I'm investing in bitcoins.
Marako0406
Member
I don't think it's a good idea of investing in sites that offer you interest on a daily or annual basis. I think 90%, if not all of them are scams. You should go have a read on Bitconnect and look at how many people they stole money from. Faucets are fine and I just started this week and I'll see how well this goes. You should research on how to trade cryptos using technical analysis.
I totally agree! One who would be interested in cryptocurrency and trading should take the time to research and study real enough to make a better decision on investing in it. I too started just claiming on free bitcoin sites about a year ago but actually all of them cannot guarantee or give you the means of getting rich in a small span of time. Collecting new cryptocurrencies is another option as well but it takes a lot of time and effort waiting for it to have better value so you can start trading. I haven't tried investing my hard earned money on cryptocurrency but I'm hoping that the cryptocurrency I hold coming from ICO's (Initial Coin Offering) may have great value in the future. But still I'm not getting my hopes high from it. Just doing it on my idle time.
pamz
Member
I really don't have and actual money investment with cryptocurrency but I guess I can say that I invested a small amount of time in able to earn some. I did earn a few cryptocurrency by faucet mining and sometimes playing a game to earn cryptocurrency. I also don't think the this is a good time to invest in cryptocurrency specially on what happen to bitcoin.
Heatman
Member
Cryptocurrency is the biggest trending investment in the world today and it's why I have invested a good amount of money in it and hoping to make good profit from it.
Hank
Member
At first, I was very skeptical about believing in cryptocurrency until my best friend that I can trust in anything told me that it's real. It was why I decided to invest $2000 on BTC.
Bisola
Member
Is there any other reason why people invest in cryptocurrency that is not for them to make money from it? People don't invest money in cryptocurrency because it's fun to invest money in there but to make profit from the investment.
Jega
Member
What other reasons do you think people have when they are increasingly investing in anything? It's to make profit and more money from their investment to the best of my knowledge.
