Are you ready to dive into the exciting world of cryptocurrency? Today we present you with our practical guide to start investing in Bitcoin. It doesn't matter if you're a curious newbie or a seasoned investor, our guide will provide you with the essential information to become a master of cryptocurrency Contracts for Difference (CFD) investments. From understanding the fundamentals to exploring current trends, we'll demystify the process and give you the insights you need to make smart decisions.
Investing in Bitcoin has become increasingly popular, especially in countries with high inflation rates. It's easy to get started: you just need to open an account with an exchange or regulated broker like TradeApp and you're ready to trade. In addition, its scarcity gives it a unique characteristic similar to gold: in the long run, its price always skyrockets!
Is Bitcoin important globally?
Its impact on the economy has been significant. Since its inception in 2009 by the enigmatic "Satoshi Nakamoto," it has completely challenged traditional financial models by democratizing finance, cutting out middlemen, and lacking government regulations.
Today, Bitcoin has become a method of payment, investment, and even a hedge against inflation in weaker economies or third-world countries. Many citizens of countries with inflationary national currencies choose BTC, despite the uncertainties in Bitcoin price predictions.
Halving
There is a phenomenon in the crypto world called "halving" that happens roughly every 4 years. During this event, token production is halved until it reaches the limit of 21 million units in circulation. The halving, combined with the increasing difficulty of mining, plays a crucial role in increasing the long-term value of cryptocurrencies. Importantly, the next halving, the fourth in succession, is scheduled for May 2024, which could represent an ideal opportunity to enter the fascinating world of cryptocurrencies. Unlike traditional currencies, Bitcoin cannot be created at the will of an institution, which prevents price distortions and rapid devaluation, providing a system that provides long-term stability.
4 Tips for Getting Started in Bitcoin
A fairly frequent mistake made by those who decide to venture into the world of Bitcoin without having enough knowledge, is to invest a significant sum without having carefully studied the chart. Sadly, many of them end up closing their trades at a loss when the price experiences a small dip. We want to give you the tools you need to make informed and confident decisions. That's why we invite you to carefully read the 4 tips we've prepared for you. Let us guide you through your first steps into the world of Bitcoin investing.
1. Don't put all your capital in the same crypto: In the stock market, indices like the S&P 500 allow you to automatically diversify your portfolio, as they include a number of companies whose values balance each other. However, in the world of cryptocurrencies, the essence is the decentralization of assets. Each token destined for "hold" must be acquired for its unique characteristics. To start diversifying, create a portfolio that includes, for example:
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Bitcoin: The mother crypto that can't be missing in a healthy portfolio, with at least 30-40% of your portfolio.
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ADA: The native cryptocurrency of the Cardano blockchain, used for transactions and participation in the network's consensus and governance process. ADA has become one of the largest and most traded cryptocurrencies on the market.
2. Learn from losses and wins: If you trade regularly, it's important to take note of both your winning and losing trades. It records in detail how and why they occurred, analyzing whether it was bad luck, manipulation of the asset or an incorrect interpretation of the indicators. Similarly, if your trade was successful, document the reasons, such as the correct application of technical analysis or the proper management of emotions.
3. Set a budget and manage risk: Before investing in Bitcoin, determine the amount of money you are willing to invest and consider your personal financial circumstances. Don't invest more than you can afford to lose, as Bitcoin's value can experience significant fluctuations. Also, keep a regular monitor of your investments and adjust your strategy as needed, staying on top of news and events that may affect the cryptocurrency market.
4. Follow the current trend: Although Bitcoin has seen a recent drop in value, it is important to note that it is still worth more than 200 times its value from 6 years ago. This gives hope that it will bounce back as the giant it is, despite campaigns against it. Its relatively low value at present may be an opportunity to invest at least a small amount of capital, confident that it will reach $30,000 again before the end of the year.
Education: The Key to Making Better Decisions - Bitcoin
In conclusion, the key is to educate yourself, make informed decisions, and be aware that investing in Bitcoin comes with risks, but it also offers significant opportunities in the digital financial world. We invite you to explore the TradeApp academy to gain deeper insights and make more informed decisions, allowing you to make the most of the opportunities that Bitcoin and other cryptocurrencies offer in the changing digital financial landscape.
Disclaimer / Limited Liability Statement.
This information is provided for general purposes only and does not take into account any specific personal circumstances or goals. You should not consider this information to be reliable investment advice. No representations or warranties are made about the accuracy or completeness of this information. Past performance is no guarantee of future results. Keep in mind that all investments carry risks and there is a possibility of losing capital.