We wouldn’t be wrong if we say that crypto money has become an investment tool that everyone has heard of with its ups and downs in recent years. However, it should be noted that this latest trend, there are some points that we should pay attention to when putting our money into the investment tool.
Especially with Bitcoin seeing the $ 30,600 levels in the past days. highest price of the year The arrival of cryptocurrencies has once again increased the excitement of some investors who are interested in cryptocurrencies.
However, the process of investing in cryptocurrencies can be a little different from traditional investment tools, so there are some things to watch out for. additional points has.
What should be considered when investing in crypto money?
- Choosing a reliable cryptocurrency exchange
- A reliable choice of cryptocurrencies
- Safe storage of owned cryptocurrencies
Choosing a reliable cryptocurrency exchange
Choosing a known and reliable cryptocurrency exchange before investing in crypto money is the first thing to do before entering the world of crypto money. one of the best steps it could be. Because both in our country (see Thodex) both globally The closing of the stock exchanges (see: FTX), which has made a name for itself, left investors in a very difficult situation.
One of the last points we should pay attention to before choosing a stock market. stock market ads should be. Because the two crypto exchanges, for example, have featured very famous names in their advertisements. Even when we turn on the TV a random celebrity It would not be wrong if we say that he most likely played in a Thodex commercial.
There are dozens of cryptocurrency exchanges where we can invest reliably, and the best decision is yours. find it by your own research is the most correct. Based on the number of users, it can be said that exchanges such as Binance, Coinbase, Kraken, Gate.io in the global market and exchanges such as BtcTurk and Paribu in our country attract attention.
A reliable choice of cryptocurrencies
It is a fact that cryptocurrencies are much more than traditional financial instruments. It is a riskier investment. Because creating a cryptocurrency is a fairly simple process and even on Twitter it’s like creating a cryptocurrency in just 27 seconds. videos available. Although your chances of encountering such cryptocurrencies on reliable exchanges are quite low, in order to make better investments, take some precautions may be good for you.
Before investing in a cryptocurrency reading your whitepaper It is important. The whitepaper on each cryptocurrency is designed to help you understand its uses and future plans. Internet searches can also provide useful information about a cryptocurrency’s history and reputation. However, it should be noted again that the best investment is always yours. your own research with your investment.
In addition, let us remind you again that cryptocurrencies are prone to sudden increases and decreases in their prices due to their nature.
Safe storage of owned cryptocurrencies
Another difference from traditional tools is that storing cryptocurrency investments may require some additional details.
Without going into too much technical detail, control of all cryptocurrencies (including your own) on cryptocurrency exchanges the stock market itself belongs. Such situations can trigger the Thodex issue, which we gave an example above. However, you can still invest in reliable cryptocurrency exchanges that you have found through your own research. you can safely hold can be said.
However, to take additional precautions in terms of storage, you can use your cryptocurrency investments like Metamask. in software-based crypto wallets You can store it. However, this solution has some risks and dozens of examples in terms of hacking. As the most reliable storage method of cryptocurrencies, cold wallets It is considered. These hardware wallets are usually they do not connect to the internet and therefore they are out of the clutches of hackers.
Bonus: Cryptocurrency ETFs
If you do not want to open an account and buy cryptocurrencies on a crypto exchange, this part may be suitable for you. You can make an indirect investment where you invest in crypto without buying it yourself. Cryptocurrency ETFs track an index and are tied to the cryptocurrencies within that index. For example, the Bitcoin ETF, An index based on bitcoin’s price marks. Thus, investors can invest in Bitcoin without owning it directly.
For example, in the name of cryptocurrencies, an important development HSBC, Hong Kong’s largest bank, Bitcoin and Ethereum ETFIt was announced that he would present
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