The whole world seems to be crypto crazy right now. And if you’re feeling like you might have missed out, you might be wondering if it’s too late to invest.
Well, some good news is… It’s never too late to make a financial investment in your future. And that is exactly what crypto is. But is there a good time to invest in crypto? And if so, when is that time?
Before we answer that, we need to consider a few other questions.
Is crypto a good investment?
Cryptocurrencies have been gaining crazy value since the launch of Bitcoin in 2009. Since then, the value of almost every crypto coin has gained percentages that financial investors could only dream of.
A lot of people have gotten rich just by investing in the right coin at the right time.
But, the other side of this is that a lot of people have lost money too.
The truth is, there are lots of opportunities in the crypto world to invest. If your goal is long term gains, then yes, crypto is a very good investment.
If you’re wanting to make money as an actual crypto trader, then you need to realise that this is a real job. Trading is hard work and requires skills, time, knowledge and patience to make it work.
But, if you have some money spare and you want to put it somewhere where it might grow in the coming years then, yes, crypto is a wise investment.
How can I invest in crypto?
The best way to invest in crypto is to sign up for a crypto exchange such as Binance, Coinbase or Kucoin. These will allow you to deposit money and exchange your money for your choice of cryptocurrency.
There are a lot of different cryptocurrencies out there, so you’ll also need to do your research to work out which is best for you.
Of course, you can invest in multiple different currencies, as many do.
Some of the most popular are:
- Bitcoin – The Mother of all crypto coins
- Ethereum – The main ‘altcoin’, and the one that those in the know are watching
- Cardano – An increasingly popular alt-coin with a bright future
- Dogecoin – Originally a joke coin, it has been popularised by Elon Musk and has a growing fanbase
- Litecoin – One of the early alternatives to Bitcoin, and still seen as a solid choice
- Ripple – At the center of an investigation, but tipped to explode in coming months/years
- Polygon/Matic – A popular coin for those in the know and one that has seen substantial gains recently
This is just a small selection of some of the most popular cryptocurrency coins. If you’re serious about investing in crypto, you should read up and understand the potential of the coins you’re investing in.
What can I gain/lose
Every investment comes with risk. There is no guaranteed return on investment, and you could just as easily lose your money.
Having said that, a lot of coins are gaining value rapidly in 2021 with many tipped to 10x in the coming year.
The projects tipped above should bring in returns in the long run. But as always, do your own research!
When is the best time to invest in crypto?
With any investment, the advice for the best time to invest is ‘whenever you can’. If you have money to invest, and you’re in it for the long haul, why not now?
If you’re looking for the best time to buy in, perhaps for a short term gain, you will need to watch the charts. Keep an eye out for dips in price and check out market sentiment on Twitter, Telegram, Discord or Reddit.
Use tools like Trading View to get an insight into where people think the price will go. And follow crypto traders or publications to get their up to the minute advice.
Understanding the best time to invest in crypto depends on a lot of things, and is usually a personal choice.
But don’t expect to make a fast buck. And never put your food or rent money on an investment. You should only ever use money that you can afford to lose, as prices to do up and down.
This article is not financial advice, and you should always DYOR (do your own research).