By 
Cryptocurrencies are driving economies insane. Today Mauritius is reaching out to become an Ethereum island. They are welcome to change their country as a whole with respect to cryptocurrency and blockchain technology. There are many reasons why crypto is a new booming financial interest. One could be about how Elon Musk flourishes his interest in dogecoin and another reason simply could be the innovative idea of blockchain & technology. Since it’s a plethora to learn from, a young investor can start leaning into the following beginner’s tips.
- Research:
Always conduct research before making an investment in any cryptocurrency. In the investing market, there are more than 4000+ cryptocurrencies. Hence it becomes crucial to keep tabs on the ongoing events & affairs of the coins. - Choose a Platform:
The first step is to select an appropriate trading platform for opening an account. There are platforms in India that include BuyUCoin, CoinSwitch Kuber, WazirX, Coinbase, etc. that help beginners trade in crypto easily and in a simplified manner. - Alerts:
Sometimes you want to invest at a certain price, but you can’t monitor the decrease or increase in price. By setting price warnings, you are informed each time the objective reaches its target. It saves you time because you don’t have to continue to check the cost. - News:
Keep tabs on crypto news & alerts, it helps you stay updated on the ongoing events in the crypto market. At times you must have seen Elon Musk’s dogecoin tweet making the highlight of the news or the news of how Binance introduced their own cryptocurrency. These updates will help you keep pace with the crypto happenings. - Invest in small amounts:
As the cryptocurrency market is very volatile, it is advisable if you begin with minimal deposits. Do enough research. Build your investment when you get to know the market. - Stick to one coin at first:
First, approach the market carefully and purchase the coin you are most sure of. Before increasing your portfolio, keep up with your decision and check your success. - Keep in tabs with the factors:
There are various factors that affect the volatility of the crypto market which leads to rising and falling bitcoin and other prices. While supply and demand surely play a part, the perceived usefulness of a cryptocurrency should be carefully considered. If a coin is considered to have numerous practical applications, it is more popular and therefore the price grows. - Diversify your portfolio:
It doesn’t pay for investing too much in one coin. Spread your money among many digital currencies, like with equities and shares. This implies that if one of them falls in value, you risk not being over-exposed, particularly as the market values for these investments are very volatile. Thousands of coins to choose from, so do your homework.
The benefit that comes with crypto investments is that it is highly volatile. Today if you have a coin at $1, tomorrow you can see it cross $28 in no time.
