Crptocurrency coin markets are not like stock/forex markets. You never exactly lose your money if you are wrong about a certain coin.
When you're wrong you are left with a worthless coin.
One could laugh in question wondering if that isn't the same thing?
No my friends it is not, for there is a possible chance the coin might regain some value if not all its previous value and then some.
It happening on stock markets many times, however when you're wrong you lose all your money invested and you get nothing but a bad taste in your mouth in return and no hopes of getting that money back whilst left incapable of trading your way out .
To trade crypto is easy my friends as it is a better system than the one in place. You simple need to research your coins.
What You should look for in cryptocurrency. This should be the number one driver for selecting a coin. What can it do, What is it for, Who is it for? Can it do something that the others cannot or is it just a copy of another ? These are the questions that you should be asking.
Bitcoin - Storage of value, in-corruptible, cannot be lost unless you are careless with the keys, is a completed project, near instant value transactions. Will be the currency of the very wealthy.
Upside: Opsec & Has no rivals
Downside: Manual Opsec
Monero - Automatic Opsec for bitcoin, Example: "what 50 billion?,what bitcoin?, what transaction?" everyone needs some of this stuff.
Upside: Has no rivals, undervalued, Automatic Opsec.
Downside: Has a team "If one should try to manipulate anything the developers can be found"
Doge, cbit, litecoin, bytecoin, and many more will continue inflating each other as they are all the same thing "malnourished bitcoin clones" with different names. It's all up to you to read the information on theses coins before investing in them. It would be better to mine them rather than spending earned money on them.
Ethereum, Antshares, Eos and all ethereum based currencies are gonna be of some value as they have unique functions however the underlying issue is that they all have the same potential and will also inflate each other when people start to realize a new political debate that will arise in the future as to which version of the ethereum blockchain is superior.
Upside: Smart contracts are great technology
Downside: Has a lot of rivals, will be devalued as people simply have other smart contract options.
My thoughts: Traders trade and will always trade they'll make a lot of money wether what they trade has true value or not. That is why pump and dumps happen. Just like on steemit where you probably should not waste your upvotes on people spamming the system with content that has no true value, just keep the same tactic in mind when looking for an investment into a cryptocoin. Just like on steemit the cryptocoins need curation.
I will Not! make a me too product. ~Steve Jobs~
Your due diligence is necessary when investing in anything and I will add Cryptocurrncies are indeed the best and for most, the only way as it gives the feeling of complete freedom.
Interesting/ Helpful ? upvote and resteem
Any thoughts ? feel free to comment
