As we know the economic situation around the world getting worse day by day. The nationwide lockdown has become common in a number of countries across the world as the global community tries to curb the spread of the novel coronavirus. Since this virus spread around the world, people have had to hunker down in their homes and practice social distancing in order to flatten down the curve of COVID-19’s spread. Setting aside the dire consequences this had on the global economy, the situation has forced people to come up with a wide variety of ways to entertain themselves.
Whereas this lockdown has brought a new meaning to Netflix and Chill even watching TV series and movies can become a bit monotonous. Besides these entertainment channels, people also want to earn profit through invest their money in some meaningful ways. In this situation, the cryptocurrency community has come up with some different and unique ways to fight boredom in lockdown with a number of activities on social media and online.
These days, people are trying to find side gigs and opportunities to make money online because the economy has shut down the world’s governments in response to the COVID-19 outbreak. For years now, bitcoiners and crypto advocates have been telling people about the benefits of earning through digital currency online. For instance, people can earn profit through coins like BTC, BCH, ETH, and a number of other digital assets right now by simply complementing tasks, surveys, writing, trading, mining, staking, finding airdrops and more.
Here's a guide for beginners by BitFoliex. We are going to cover the myriad of opportunities available to people interested in making some money on the side by leveraging cryptocurrency solution.
Cryptocurrency is a potentially great digital asset for investment nowadays. Some cryptocurrencies are better options to choose for investment in 2020. Do you want to know what digital currencies are worth investing your money in the next 12 month? Read the following recommendations.
Factors to consider when you are choosing a cryptocurrency for investing in 2020
Some coins still possess a very good potential for making quick and long term ROI, despite the international trend of cryptocurrency devaluation in 2019,. Do not pay attention only to the current rate of cryptocurrencies because this index is the most volatile and may change drastically within few weeks. (For example: - the dramatic drop of bitcoin price in 2018).
According to bitfoliex, consider the following factors and indicators while you are investing in cryptocurrency. The following recommendations will help you to minimize the risk and increase ROI this year.
Diversify your investment:-
Never invest money in one asset. New traders and investors usually make this mistake repeatedly and, as a result, lose all money after the first failing deal. Diversify your investment portfolio. At least one of the chosen cryptocurrencies will bring profits and you will be able to minimize losses and earn some money through investment.
Do not blindly trust one source of data:-
Always use different sources (chats, forums, expert opinion, financial analysis, brokers). Bitfoliex provide all these facility at a single platform. It’s a trustworthy platform to start investing on cryptocurrency.
A trustworthy platform:-
While you are investing in digital currency, use a platform that is properly secure, and provide you a number of benefits. Bitfoliex is the best digital wallet for your digital coins. It’s a secure wallet to store all coins in one place.
Check the current top 10 cryptocurrencies with the highest market capitalization.
In the end, you are free to pick any cryptocurrency to invest in 2020. But remember to diversify and work with reliable exchange services like bitfoliex and brokers to protect your investment deals from any fraud. Make sure to include digital coins into your asset portfolio as soon as possible while top currencies like Bitcoin and Ethereum are still hot for investment.