Having a bad day?A bad year? It's probably due to a lack of money. So you complain. Damn politicians, cursed economy! There's nothing wrong with doing that. It's a survival mechanism. But now that you're done. You still need to find a way to fix your situation. So let's look into crypto currency investing.
I heard a rich man say, "90% of investments are failure." This was in 2012. Since then people have debated his failure rate. I didn't need 4 years to come to conclude he had more money than God. What we're going to do is assume you don't have millions of dollars to lose. We'll be practical. This is for people who only have $1,000, $100, or no money at all.
First we research. You can learn how the Earth is flat. Congratulations! You wasted your time. What we're looking for is data, white papers, owners. We are looking for facts, results. We need a product, and or service people will use. Because we want the damn money! To hell with feeding our ego! That doesn't pay the bills.
Next is the volume & soft cap. If you have 1 million coins, it will take weeks, months to sell all of them. 10 coins will go fast, but won't be a lot of money. The current market is around 100 billion dollars. So we want a volume of 100 to 10,000 coins. We pair this with the soft cap. I'm seeing a lot of coins 1 penny to $200. With this data we can now plan. For example you buy Sia Coin at 1-2 cents a piece. We get 1k to 10k coins. The soft cap is probably $10-$100. When it hits that range we pull out, make $1k-$100k, spending $20-$200. Komodo is at $1-$2 a coin. We want 100-1k coins with a soft cap of $100-$200. These are starter estimations. Adjust from here.
Before investing you're going to determine a timeline. I have Sia Coin hitting 10 cents by the end of July. If it doesn't, then it's unlikely they'll hit the soft cap in 3 months. Iota is a new coin, and has a lot of potential according to my research. However it looks more long term. I'll do 1-2 years. Check on it every week, or create a auto sell. Beware! Auto selling can make you miss a huge gain. I check mine manually. Others have it set to auto notify. The soft cap was hit! Now it's time to sell. With a small volume, you should be able to make $1k-$100k in a day. This was based on the average sales of trading sites Bittrex, Coinbase, Bitfinex. Don't forget taxes, transfer fees. When in doubt, sell half of the coins.
Are you broke? There's a ton of options. You can do part time work for one of these 400 companies. They need forum admins, logo designers. I'm looking at you, Lisk! If you live nearby one of them. You could even be a cook. Get paid in those shinny coins. You can mine Komodo coins, or pay other people to mine for you, Genesis Mining and Nice Hash. Play video games? Do you buy them at $60? Wait for them to go on sale. I just made you $20-$40. Cut your luxuries. Never starve yourself. The only limitation is your imagination. Don't have that? Steal it, err borrow it from someone else like me! Wait a minute!
Finally the most crucial part! Practice! I used a video game, Black Desert Online. It has a active, stable player market. The trade skills are similar to mining crypto coins. In a few months I was up 300 million silver. Only putting in minimal effort. I learned my flaws. For most people it's our emotions. We can't remove them. But we can control them. A big change happens, you want to buy, or sell. Instead I recommend giving yourself a minute or an hour to think on it. Think about failure as much as success. This does mean sometimes you'll miss that huge sale. But this isn't Black Friday Shopping, this is investing! That means patience takes priority.
I hope this information helps. This made my mining group a decent chunk of money. But more important it kept our bank accounts away from that nasty color, red.
