Название: Investing in Cryptocurrency For Dummies
Автор: Kiana Danial
Издательство: For Dummies
Год: 2023
Страниц: 275
Язык: английский
Формат: pdf (true), epub
Размер: 10.2 MB

Unlock the mysteries of cryptocurrency investing.

Investing In Cryptocurrency For Dummies gives you detailed information and the expert advice you need to successfully add cryptocurrency to your investment portfolio. If you’re interested in making money in the unregulated cryptocurrency markets, this is the guide for you. You’ll learn how to buy and sell digital currencies, profiting from price fluctuations regardless of the market environment. You’ll also gain the knowledge you need to make smart long-term investments in crypto. Real-world examples show you how to maximize your profit potential and avoid common pitfalls.

Investors who continued holding Bitcoin throughout the years, and continued dollar cost averaging without panic selling, are likely still in a profitable position. But many more sold at a loss, turning against this new category of financial assets altogether, and reverted back to their old methods of investing or not investing at all. The foundation of cryptocurrencies such as Bitcoin lies in a relatively new technology called blockchain (the infrastructure that cryptocurrencies are built on). Blockchain is a disruptive technology that many argue is bigger than the advent of the internet. The applications of blockchain don’t end with cryptocurrencies, though, just like the applications of the internet don’t end with email.

The unique thing about cryptocurrency investing and trading is that a crypto is a cross between an asset (like stocks) and a currency (like the U.S. dollar). Analyzing the fundamentals behind a cryptocurrency is typically very different from analyzing any other financial asset. The traditional ways of measuring value don’t work in the crypto industry, mainly because, in many cases, the crypto data isn’t stored in a central hub somewhere. In fact, most cryptocurrencies and their underlying blockchains are decentralized, which means no central authority is in charge. Instead, the power is distributed among the members of any given blockchain or crypto community.

You may have heard of some of the famous cryptocurrencies, like Bitcoin, but the industry doesn’t end there — far from it. And although the crypto market has a ton of volatility, it also has the potential for you to make real money by investing wisely and developing strategies that suit your personal risk tolerance. In this book, I tap into the risks involved in cryptocurrency investing and show you the different methods you can use to get involved. The topic of cryptocurrencies and their underlying blockchain technologies can be a bit confusing. That’s why I try my best to keep this book easily accessible and relatable, and free of intimidating terminology. But it does contain some serious information about strategy development, risk management, and the whole industry in general.

Figure out what cryptocurrency is and learn the ins and outs of the crypto market
Learn how to buy and sell digital currencies
Understand cryptocurrency wallets and why you need one
Make smart trades for the long and medium term
Incorporate cryptocurrency into a broader strategy for a diversified portfolio

Investing In Cryptocurrency For Dummies is a great resource, whether you’re a curious newbie who has countless crypto questions or an experienced investor who wants to expand their crypto strategy.

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