Month: January 2018

Speculating with cryptos

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Speculating with cryptos is becoming increasingly popular. If you want to speculate and trade with cryptos, especially the Alt-Coins that are not in the Top10, you need a lot of time because the reaction on news, tweets, media, government and much more will have an almost direct result on the price. To keep track of it will be a full time job (24 hours).

If we look at the TOP10 cryptos (the cornerstone cryptos and the runner ups), it is almost a day job to keep track of.

The things you need to be a trader are:

  1. Cash to buy Ethereum and Bitcoin (ETH and BTC)
  2. A trading account (or beter multiple) on FIAT to Crypto Exchanges
  3. A trading account on Crypto exchanges (just trade Cryptos)
  4. A lot of time to understand the technology and the scammers (pump and dump)
  5. A lot of time to spot the real interesting companies (ICO’s)
  6. Several hardware wallets
  7. Stable Internet connection
  8. Knowledge to protect your computer (MalWare and RansomWare)
  9. A number of trading call resources

The best alternative speculating with cryptos

If you take into account all the work you have to do and consider before stepping into cryptos and trade, consider just a few top10 cryptos and get in on a weak moment. Then HODL your position until you are ready to sell.

Rough ride cryptos during XMAS 2017

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We have seen a rough ride during XMAS 2017 where the TMC of the cryptos went up to 654 B (1) and then dropped back to 422 B (2), up again to 599 B (3) and then back to 483 B (4) just before XMAS. Happy XMAS, Keep CALM and MOVE ON!

The old kid in town, Ripple, spiked to a TMC share of 146 B with an all time high Ripple price of 3,77 US$. It went up almost 16 times in just 20 days. That means a lot of money moves is and when the money moved out, the price dropped 50% in 5 day’s. The market is overheated and the money doesn’t know where to go. The keywords to invest are: Blockchain, Bitcoin and ICO.

Advise:

You need strong nerves and knowledge at this moment to act in this market. If you don’t have those, stay away and wait until the crypto market will calm down a bit.