How to Invest in Cryptocurrencies – A Beginners Guide

Dear Crypto Enthusiasts:

Today we are going to focus on another area of online trading markets. From among, equity, option, CFDS, and Crypto investments, Cryptocurrencies are the most recent additions into available investment pool. Due to its recent foray into online trading opportunities, at Platinum Trading Institute (PTI) our traders have performed extensive research and prepared the following beginner’s guide.

 

CRYPTO MARKET PLACE

Just like any CFD markets, our crypto mentors prefer to review the Crypto markets every morning, even though the crypto market place never sleeps. The online trading in Cryptos occurs 24/7 offering the crypto traders trading opportunities incessantly. For example, today 0n 10/18/2018, the Bitcoin opened at $6514.65, reached a peak of $6553.06, and is currently trading at $6449.45. Along with Bitcoin fluctuations, the alternate coins also change and mostly track Bitcoin price fluctuations. For example, the total market cap that reflects the aggregate of all crypto altcoins had traded today in the narrow range around $208 Trillion to $210 Trillion.

In general, the crypto investors focus on top ten cryptos to begin their journey into cryptocurrency trading. Frequently cited currencies are, Ripple (XRP), Ethereum (ETH), Bitcoin cash (BCH), and Litecoin (LTC). Although, as of August 2018, the number of cryptocurrencies traded in the Crypto market place exceeds 1600 – thus offering plenty of opportunities to beginners and experienced crypto investors many opportunities to trade and invest in cryptos.

CRYPTOCURRENCY INVESTMENT

As a crypto enthusiast, if you are looking at investing in Cryptos then you must familiarize yourself with the crypto exchanges. These crypto trading exchanges are like brokerage houses; Fidelity or TD America that help you trade one cryptocurrency for the other or US dollar. Not all Crypto exchanges are alike. They differ in Cryptocurrencies offered, trading commissions, and if they accept fiat currencies or not. In addition, you also need to understand the concepts of hot wallets and cold wallets. Cold wallets are more secure than hot wallets and not subject to currency hacking.

IG’s strength stems from the fact that it is a fully-regulated International company having a listing on UK’s FTSE 250. As a result, its services are reliable, trustworthy, and trader friendly. They also offer services in CFDs, FOREX trading, and financial betting. Due to its size, it caters to beginner traders, intermediate currency investors, and advanced speculators around the Globe.

Now, if you are a US citizen then the options for brokers are somewhat limited. US FOREX brokers are regulated by either NFA or CFTC and are subject to stringent restrictions designed to protect the individual traders. For example, these NFA regulated brokers must limit their leverage to 50-to-1 and conform to rigorous record keeping requirements.

PTI RECOMMENDS THE FOLLOWING CRYPTO EXCHANGES:

COINBASE:

Coinbase is probably the most well-known crypto exchange among the US crypto enthusiasts. With 20 – Million plus users, and over $150 Billion in assets, it dominates the crypto market in the US. Coin base offers only a limited number of coins, among them Bitcoin, Ethereum, and Bitcoin cash are the major offerings. One important factor that is favored by most crypto investors is the fact that it allows purchasing the currencies in either US dollars, EUROs, or GBP.

JAXX:

Jaxx Wallet was first developed in 2014 and provides a very smart and easy to use multi-cryptocurrency wallet. It can store over 30 different types of cryptocurrency on its platform which is incredibly helpful. Jaxx also has a mobile App which is very user-friendly. Several of the experienced traders at PTI prefer using Jaxx for their personal portfolio.

Once you become more experienced with crypto investments, you may want to store your collections in a cold storage. There are cold storage sites like Exodus wallet or Nano S that mitigate risk associated with hacking or phishing.

For a more experienced crypto investor, nothing could be more exhilarating than being able to trade them 24/7, using the computer. These experienced traders/investors can exchange their coins on the exchange, just like trading CFDs on a brokerage firm. Some of the notable exchanges are coin base, Binance, and Bittrex.

PTI TRADER’S FAVORITE CRYPTOCURRENCY EXCHANGES:

BINANCE

If you are looking for a robust crypto trading platform that offers higher liquidity, better trading speed, and lower spread then Binance is your exchange. It is user friendly and very simple for a beginner to learn to use. As a beginner in crypto trading, you should definitely evaluate it for your trading experience.

Another popular choice is the USA based Bittrex exchange.

BITTREX

Bittrex is the US based exchange that offers the basic services as that of Binance, though it is more user -friendly and versatile. It has a fairly large number of coins to choose for trading, though the basic trading currency is only the Bitcoin. Recently, it has started accepting investments in US dollars in some states of the country and is enlarging its base in other states. I prefer this exchange, as it offers fairly low spreads, a larger array of coins, and has reasonably good graphics to visualize the market fluctuations.

I must say that there are many exchanges, like Poloniex, Bitfinex, Coinbase, pro, Huobi, and OKEx that offer similar services. There are many other Exchanges which I can mention with confidence like Poloniex, Bitfinex, Coinbase Pro, Huobi and OKEx. As a beginner crypto investor, you should check out these exchanges and decide on the ones that fit your lifestyle, the coins that you want to trade, and which fiat currency is of use to you. Our traders at PTI have often accounts on multiple exchanges so that one can move from one-to-other seamlessly capitalizing on the crypto arbitrage opportunity offered by that exchange.

I hope that after reading this informative article on Crypto trading you are excited about joining an elite group of Crypto investors to earn the title of a Cryptonnaire. For that, we invite you to join Platinum Trading Institute (PTI), for a free one-on-one mentoring class at the earliest.

FREE Crypto Class For Beginners – Learn How To Trade Cryptocurrencies TODAY!

If you are a more seasoned trader in the crypto space, but are struggling in the current bear market to come out with any significant profits each month, then I would suggest getting in touch with one of our Portfolio Specialists who will do a free analysis and appraisal of your portfolio, and help you turn the corner into profits!

Get your FREE Crypto Portfolio Assessment – One to One 2018 Forecast Consultation!

you’ve booked your session above, we look forward to speaking to you soon!

Hopefully, you have enjoyed today’s article. Thanks for reading!

Have a fantastic day!

Dr. Jayesh Mehta, MBA.

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Earnings Disclaimer:

The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgment and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.

By | 2018-10-20T05:17:45+00:00 October 19th, 2018|Crypto|Comments Off on How to Invest in Cryptocurrencies – A Beginners Guide

About the Author:

Dr. Jayesh Mehta
Nationally recognized Advanced Technology leader with over 25 years in the Aerospace Industry. Sustained track record of providing innovative solutions to advancements in the gas turbine and alternate energy fields. Dr. Mehta is an innovator and a passionate financial analyst who has turned his attention now to intricate world of FOREX and Crypto trading education. Academically, Dr. Mehta shares Mr. Nirav Shah’s passion for developing algorithmic strategy based trading approaches for financial instruments applied to FOREX, Crypto, and Equity markets. As a part of his MBA in financial engineering at Xavier University, Dr. Mehta had developed and published several peer reviewed papers on Black-Scholes options models in flagship financial journals.