Alise Bella

28
Apr
2021

Crypto Investing And Crypto Trading – Tips To Do It Safely And Successfully

According to studies, about 36.5 million of the population in the United States made investments in cryptocurrency. Although the goal of people who have taken on crypto trading is to earn money, many Americans have lost their investments primarily because they have decided to quit along the way or have become a victim of crypto scams. In 2018 alone, American crypto traders lost approximately $1.7 billion. But this isn’t and shouldn’t always be the case as there are a few things that you could do to safely, proficiently and successfully trade cryptocurrencies.

Tips to Safely Invest and Trade Cryptocurrency

Regardless of the investment that you make, there will be risks attached to it. This includes investing in cryptocurrencies which experts say that it is one of the investment options that carries so much risk. Nonetheless, cryptocurrencies are also one of the hottest commodities to invest and trade in. A lot of individuals believe that digital currencies are the future of finance. However, if you intend to venture into crypto trading, there are a number of things you need to consider for you to make better informed choices as well as increase your success rate.

Choose a Reliable Crypto Broker

One of the most important things to consider when venturing into crypto trading or crypto investing and increasing your success in the market is to choose a reputable crypto broker. Check out. There are a lot of reliable crypto brokers to choose from and all of them have different strengths and weaknesses. It is then imperative that you compare and contrast your choices so that it would address as well as match your crypto trading or crypto investing needs and styles.

Do your Research on Exchange

Prior to investing even a dollar, you first need to research on cryptocurrency exchanges. Crypto trading/investing platforms would provide a way for to buy and sell cryptocurrencies, however there are over 500 crypto exchanges to select from. Hence, doing your research and learning from those who have more experience in crypto trading or crypto investing is essential and important to achieve your goal.

Prepare Yourself for Volatility

Since you’re interested in trading or investing in cryptocurrency, you should be aware of how volatile the market can be where you would see dramatic rises and falls in prices. So, you have to make certain you are prepared for this. If you think your investment portfolio or your mental health cannot handle such, crypto trading/investing may not be a smart choice for you.

Determine How to Store Your Cryptocurrency

When buying cryptocurrency, you should have a place to store it. Either you store it in a digital wallet or on an exchange. Again, there are various types of digital wallets where each has its own sets of advantages, technical requirements, as well as level of security. In terms of exchanges, you need to research for a good storage before you begin investing.

Posted by Alise Bella in Crypto
09
Nov
2020

The Goal Of Getting An Insurance For Your Home And Your Digital Assets

Homeowners get a homeowners insurance policy for the same purpose one takes out a health insurance or an automobile insurance. In the event a home is damaged because of a disaster, possessions lost due to theft, or someone gets injured within your property, a homeowners insurance would greatly help the owner handle and deal with the financial consequences. A homeowners insurance usually combines two different kinds of protection, liability insurance as well as hazard insurance. Visit homeownersinsurancecoverage.com to learn more of these coverage.

The Goal Of Getting An Insurance

The most basic aim of purchasing an insurance, like a homeowners insurance, is to provide you financial protection in order for you to be financially whole after a loss. You will agree to pay an insurance provider a certain fee, which is usually paid on a monthly basis, for a period of time until you have completed the cost of the insurance policy you have chosen. In return, the insurer guarantees to shoulder the large financial burden of an uncertain or unforeseen loss in the future. Hence, with a homeowners insurance, you are protected from the financial obligations that comes with the loss, making a homeowners insurance very much important. Go to homeownersinsurancecoverage.com to check on possible coverages to ensure you are well protected.

There are various types of insurance in the market wherein you could insure almost anything such as cars, business, health, and life. One of the assets that some people have is cryptocurrency. Since the cryptocurrency markets are starting to mature and the use of digital currencies becoming prevalent, they are starting to appeal and draw in more players from different industries, including the insurance industry. This means that your crypto assets could now be insured.

According to a report by Bloomberg, cryptocurrency insurance is primed and ready to be a “big opportunity”. A representative of Allianz, one of the biggest insurance providers in the world, told Bloomberg that the insurance company was exploring various options for insurance product as well as coverage in the cryptocurrency markets since cryptocurrencies were starting to become more pertinent, significant, and widespread on the economy of the world.

Why Insurance is Needed in the Cryptocurrency Space

The cryptocurrency business, at present, which predominantly consists of exchanges and startups, isn’t large enough to provide the insurance industry ample returns or revenues. Based on information which is available to the public, even Coinbase, the largest cryptocurrency exchange in North America, holds just 2% of its coins which is insured by Lloyd’s of London. These digital coins are kept in hot storage, which are connected to the Internet, whereas the remaining are disconnected and only little is known regarding the status of their insurance.

If you take into consideration the instability and variability of the cryptocurrency space, insurance for digital assets becomes imperative. The valuation of cryptocurrencies which could skyrocket at any time has caused immense theft of digital wallets as well as exchanges. In January 2019, for instance, $500 million worth of cryptocurrency was stolen from Coincheck. The increasing attacks and hacks made the cryptocurrency space vulnerable which the mainstream or conventional financial space either rejects to take seriously or ignore.

Posted by Alise Bella in Crypto