At the time we talked about the best cryptocurrencies to invest. And it is that, no one escapes, these coins allow us to earn very good amounts of money if we are skilled traders. The main problem that we find ourselves with is that most investors consider that it is necessary to spend the whole day in front of the computer making transfers to be adding profits. But no, invest in cryptocurrencies just a few hours a week, and still getting good deals are two perfectly compatible issues. Let’s see how.
First of all, it is important to note that we have used reliable sources in this business, such as bitcoin revolution official page, in order to develop a series of strategies and tips that, we are sure, will be really useful. With them, you can earn money thanks to cryptocurrencies, but without going crazy.
Investing in cryptocurrencies: how should it be?
Yes, we know that many have the following idea of a cryptocurrency investor: a closed room, with 3 or 4 monitors in which all the time they pass graphs impossible to read for ordinary people. Like in the movie The Big Short, come on. However, this is increasingly out of the question for successful investors.
Most of today’s top traders are far from spending their days in front of monitors and screens. This is not to say that they take it lightly, at all. Rather, they have the patience and ability to read a handful of moves in the month, and focus solely on hitting them.
This has a number of benefits that some of the newcomers to investing in cryptocurrencies do not contemplate. Unfortunately, they occasionally only contemplate them when it is too late. At the end of the day, spending the whole day abstracted from family and affections to earn money is not a quality of life either.
However, now we know that it is possible to carry out our main work, the one that supports us, as well as pay attention to enjoying a healthy life and, in free times, make some money investing.
Don’t trade, invest
An initial change of perspective can be key to the success of your transactions. Crypto newbies generally want to make as many moves as possible, in the shortest amount of time. There are also those who believe that an asset that has multiplied x5 can continue to do so, when it is normal for it to retract.
For this same reason, if you have managed to make a good sum, it is recommended that you withdraw part of those earnings. You should convert them to dollars or your local currency. The fundamental thing is that they are not available for you to invest on a large basis of money. This will prevent you from losing everything you have won in a mad moment.
With that clarification made, the time spent investing in cryptocurrencies should be focused above all on educating yourself. Precisely, we refer to learning more about currencies. There are even very good online courses about it.
Also, you should pay attention about the stage in which that asset is. Classic chart patterns for cryptocurrency trading can help you define your nearest future.
In the same way, price alerts are great allies to keep you at bay and not invest more than you had in mind. Also, why not, to part with when you have reached the expected earnings.
If you trade, long term
On the other hand, if you are determined to dedicate several hours to cryptocurrencies – for example, if you have just become unemployed and have no other way out – we advise you to avoid Day Trading. Instead, you should mostly go for swing trades, which usually last several weeks or months. Why? To avoid being aware of the matter all day, which is usually somewhat stressful and can lead you to make poor decisions.
We could make a metaphor about it. These operations are kind of like training before jumping into the big leagues. Those big leagues are represented by Day Trading.
In summary, always keep in mind that the result of your transactions is not related to the time you spend in front of the computer looking at charts. Much can be learned by training differently. And along with it, it is essential that you do not rush. Investing and earning with cryptocurrencies is much more likely if you are patient.
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