Investing In Digital Assets In 2019: 10 Essential Tips For Successful Trading
2019 is probably the best year to start investing in crypto if you haven’t done it already. Last year was dominated by a long, exhausting bearish trend which took a big chunk of the market’s total capital, and it has been called a year of maturation for the digital assets. It was a year which separated the valuable projects from the weaker ones. But 2019 is expected to be a better year in terms of both price and mainstream adoption of cryptocurrencies.
We are definitely out of the crypto winter and the latest bull run that the market experiences is proof. A few days ago, the bullish crypto predictions became a reality, and the crypto market managed to add about $28 billion in just 48 hours. Bitcoin surged to over $5k, and experts are expecting it to go up even more.
Regarding the subject of mainstream adoption, things are going great as well. The fact that a tech giant such as Samsung is supporting digital assets is just an example in this regard. The company finally launched its much-awaited Galaxy S10, and it comes with a full-blown crypto wallet implemented. Samsung’s phones are used by millions of people and crypto enthusiasts will be able to enjoy the benefits of the tech giant’s new flagship. People who haven’t been interested in digital coins will be able to enter the crypto space having the support of Samsung’s phone that comes with a crypto wallet.
More and more institutional names are becoming interested in crypto, and institutional money is another trigger for mass adoption. Overall 2019 is definitely the best time to enter the game and start investing. Here are the ten best tips for successful trading.
Ten tips to invest in crypto in 2019
- Make your homework and research the market – choose the right cryptocurrency exchange with reasonable fees. To choose the cryptocurrency exchange is one of the most important things.
- Don’t invest all your life savings and make sure to buy low and sell high.
- Understand the relationship between Bitcoin and altcoins, because the latter work in correlation with BTC.
- Don’t put all your money in a single coin and make sure to have a diversified portfolio.
- Research the project behind the coin that you choose to invest in.
- Become interested in security and understand that 2FA (two-factor authentication) is extremely important for cryptocurrency exchanges, wallets, and other services.
- Back up both your wallet data and the 2FA in order to save your keys, seeds, and passphrases in another location as well.
- Learn how to recognize scams and avoid them.
- Don’t buy illiquid coins because the less liquid a crypto, the riskier it is.
- Make sure the digital asset you plan to invest in has a high trading volume.
The crypto industry is still flourishing and if you make sure to do things right you can successfully ride this innovative wave that promises to revolutionize finance and replace the traditional payments systems for the benefit of the consumers.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.