What Are The Lowest Risk Cryptocurrencies?
I am often being asked if there are any entry level types of digital currencies that people wishing to dip their toes into investing into the cryptocurrency environment can invest in. That is of course a question that you may also be looking for the answer to!
However, all digital currencies come with their own risks, but make the right decision in regards to which one to buy, and buy it at the right moment in time then in short period of time you could see the value of your investment really bearing fruit and making some healthy reruns.
To answer the original question though, it is often the digital currencies that are not yet live and available on the open market that can and may just show some amazing returns, so it is those that are pre launch that should be investigated much more carefully.
What you will find is that there are numerous new digital currencies being launched each month, but each of them will have some form of unique aspect associated with them.
That could often be the target market they are aimed at or some additional feature that is not yet on offer on any other digital currency, but at the end of the day you will end up making your own mind up as to which ones to invest in, and that will often be down to your gut feeling on any of them you do come across. Never be hurried into buying into any digital currency, or simply end up buying into one due to you having seen someone on YouTube saying how good they are!
Keep Your Transactions Fees Low
I do seem to keep on banging about processing and transaction fees in my daily news updates, however I have seen good people through money down the drain due to them not carefully picking where they are buying units of any digital currencies from.
The processing and transactions fees charges some digital exchanges are quite appalling, and there is no real reason they should be anywhere as near as the ones they are charging.
After all the whole idea of cryptocurrencies was to offer people not only an anonymous and hassle free ay of moving money around but to also do it in such a way that middlemen fees are kept to a minimum or nonexistent.
Therefore, before you merrily go skipping off to buy any units of any digital currency please do think long and hard about just which currency exchange you plan on using.
Spend as much time as you need comparing those annoying additional fees you will be forced to pay at all digital currency exchanges, not only when buying but also when selling digital currencies too, and also try and ensure that any fees you do end up paying are kept to an absolute minimum, if not you are just throwing your money away and making those exchange owners and operators rich!
Look at Start-Up Cryptocurrencies
There is not going to be a decrease in digital currencies going live and lunching for the very foreseeable future, and as such as someone who does want to start investing in digital currencies you are going to have to spend some time researching each week just which new digital currencies are about to launch.
There is still money to be made in initial coin offerings, and with some time, effort and research you may find a handful of them worth investing nominal amounts in.
Just keep in mind that many of those digital currencies that do launch are not going to show any meaningful returns on your initial investment, and to be honest a large percentage of them have simply been launched to make their founders a hefty income.
As long as you keep your investments to some low and nominal amounts, which is what you will end up doing if you stick to investing in new start up digital currencies, then if everything does go pear shaped you are not going to lose huge amounts of cash.
If you make the mistake of rushing into some of the much higher valued and established digital currencies, and I am thinking Bitcoin here, then you do stand the very real risk of losing some huge amounts of cash due to the natural volatility of that digital currency. So think long and hard about where you do invest your money, and only invest money you are prepared to lose too.