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:
- Cash to buy Ethereum and Bitcoin (ETH and BTC)
- A trading account (or beter multiple) on FIAT to Crypto Exchanges
- A trading account on Crypto exchanges (just trade Cryptos)
- A lot of time to understand the technology and the scammers (pump and dump)
- A lot of time to spot the real interesting companies (ICO’s)
- Several hardware wallets
- Stable Internet connection
- Knowledge to protect your computer (MalWare and RansomWare)
- 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.