The cryptocurrency industry experienced tremendous growth in 2017, with the market cap of all cryptocurrencies rising from $17 billion to $650 billion, having surpassed the market cap of the FANG stocks and that of gold worldwide. This growth signs shows that the crypto market is expanding, and hence this is the apt time to invest in crypto market. More details Visit Site
While this has been great news for traders and speculators, it also means that managing your crypto portfolio intelligently has become crucial if you want to reap returns that beat both the stock market and gold. Below highlighted are some helpful tips on how to do just that. Continue reading further till the end to have an overall better understanding!
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Follow Top News Sites That Cover The Cryptocurrency Market
Reading and following the news is the first thing any investor should do when they start with cryptocurrencies. There are many different options available, but it is recommended to go with sites like Cointelegraph, Bitcoin Magazine, and CoinDesk.
They cover important developments in the market regularly, while also giving you enough time to prepare your own opinion about an event. News coverage has been known to cause massive increases or drops in cryptocurrency prices, and these updates need to be followed as quickly as possible.
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Use Social Media Platforms That Regularly Post On Crypto News
Plenty of Twitter accounts offer curated content; you can search through tags such as bitcoin or blockchain to find what suits your interests best. Sites like Reddit also have robust communities full of valuable discussion and debate. You will also want to pay attention to sites like CoinDesk and Cointelegraph, which can give you insight into the major headlines in the crypto world.
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Airdrop Coins Only If You Have Time For Them
Many airdrops these days are riddled with spam, and not only will you be rewarded by their tokens, but they might also find themselves on your email list. It’s much more difficult to say no to the next ten token airdrops when they know that all you have to do is provide your personal information. A few seconds of your time can translate into months of marketing.
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Keep An Eye On Project Listings
Listings are crucial to the success of your crypto portfolio. You need to make sure you are updated on every project and market fluctuation so that you can respond quickly to any shifts in the crypto economy. You’ll want to subscribe to newsletters, group chats, and forums where you can get the latest information about a project. Follow the Twitter accounts of leaders in the industry. Subscribe to email alerts from Coindesk and Cointelegraph.
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Check Out Twitter Chats About Specific Coins You Are Interested In
Staying informed about the price movements of coins is the first step to managing your portfolio intelligently. On Reddit, cryptocurrency enthusiasts worldwide host live chats on specific coins and exchange platforms every week. Reading posts and participating in active discussions will make you aware of current market trends and help you stay ahead of the game regarding investments.
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Watch Youtube Videos Of People Discussing Crypto Projects
YouTube is full of different channels and people discussing their projects. You can also look at websites that review coins to see if they’re worth investing in. This is a way to use the internet’s broad reach to your advantage, and it’s easier than talking with family or friends who might not be into cryptocurrency yet.
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Never Invest More Than 1% Of Your Portfolio Per Coin
You should never invest more than 1% of your portfolio per coin and not more than 5% into crypto. The closer a coin is to 0 market cap, the less it’s worth investing in because it will be difficult to liquidate this investment. It also makes sense to diversify your portfolio between smaller-cap coins and tokens, which you might be able to liquidate easily.
Conclusion
Finally, when it comes to crypto investment, understand that the market is still a high-risk market. That is why you should research the background of your coins and their management team. Finally, diversify your portfolio at https://bitcoin-prime.io/ with different cryptocurrencies to make the most out of your investment!
