3 Ways to Improve Your Crypto Investing Decisions

The world of cryptocurrency can be daunting for those new to investing. Even for veteran crypto enthusiasts, it doesn’t take long before the industry starts to feel like a labyrinth of new terminology and concepts. It’s easy to get lost in all the noise, particularly with so many ICOs launching every day. The trick is learning from mistakes and improving your investment strategy moving forward.

Here are three ways you can improve your approach when it comes to crypto investing.

Talk to Experts

The best way to learn and grow your crypto knowledge is to talk to experts. A lot of people in the crypto space are very open to sharing their knowledge and experiences, either in person or online. You can meet with crypto investors in your area at meetups, join online communities like Reddit, or follow top crypto influencers on social media.

There are many great podcasts and live shows where you can learn more about cryptocurrency. If you prefer to read and research online, there are plenty of sites and blogs out there that can help you understand this space better.

Set a Strategy and Stick to It

Once you understand what you’re investing in, you need to decide how to invest your money. Here you need to consider your current financial situation, risk tolerance, investment goals, and investment timeline.

What’s the mix of coins and tokens you want to own? What’s your risk tolerance? Should you invest in ICOs? How much should you invest in each coin? How much should you keep in cash? These are all important questions you need to consider when building your investment strategy.

In the end, you need a strategy that’s both simple to follow and easy to stick to. You can’t afford to make emotional investment decisions, especially in volatile times. If you don’t want to accidentally use your savings, you can use to do some budgeting.

Don’t Blindly Own a Single Coin

One of the biggest mistakes crypto investors make is blindly owning a single coin. By putting all your money into a single cryptocurrency, you’re taking a huge risk. If the price of that coin drops or the entire crypto market tanks, you could lose a large chunk of your investment in a very short amount of time. Your strategy should always be to invest in a diverse selection of crypto coins.

Posted by Ness Shantel in Cryptocurrency

How to Ask for Financial Advice?

If you’ve been reading financial advice columns for a while, you probably know it’s a good idea to get some help from an accountant or financial advisor if you need one.

If you don’t have anyone in your life who can help you manage your money, though, how do you go about finding the right person to assist you? You may not have many acquaintances who are financial advisors or CPAs, but that doesn’t mean there aren’t people out there willing and able to give you the guidance and assistance that you need.

We’ll take a look here at some ideas on how to ask for financial advice without feeling embarrassed.

Ask Your Friends First

First and foremost, you should ask your friends if they know anyone who can help you out. Some of your closest buddies could be CPAs or financial advisors themselves, or have a friend or colleague who does. The best way to do this is to be direct and straightforward about what you’re looking for.

You’re not asking them for money or charity; you’re asking for advice. You may want to make it clear that you’d be willing to pay them for their time, or that they would be doing you a favor by taking you on as a client. If you live in a mazoji bendrija with them, this idea is the perfect one for you.

Network and Check References

If you come up empty trying to find someone through your social network, you can always try to network some more. Ask people in your field for recommendations, or try reaching out to people in your industry who you don’t know personally.

You can also check the references of anyone you’re considering hiring. There are a few ways you could do this.

First, let them know you’ll be checking their references. Then, when you’re done working with them, you can let the people they worked with know how it went.

Hire a Registered Financial Advisor

If your needs are fairly straightforward, like putting together a retirement plan, a registered investment advisor might be your best bet. RIA’s are people who can help you manage your investments and put together a financial plan, but they’re not accountants or financial planners.

They won’t be able to help you with taxes or insurance, for example. If you hire a financial advisor, make sure to ask them about their process.

Posted by Ness Shantel in Cryptocurrency, Finance

Why it’s Best to Use Crypto as Payment?

Similar to the digital world of video games, there is also a thriving digital economy in the real world of cryptocurrency. While it may seem like an unnecessary layer of complexity, using cryptocurrency as a means of payment has its benefits over standard cash transactions. 

If you’re still trying to figure out why you should use crypto as payment, this article covers everything you need to know about the subject. Read on to find out why utilizing cryptocurrency as a transaction method is beneficial in many scenarios.

You Can Track the Usage of Your Money

Using cryptocurrency as a method of payment allows you to keep track of how and where your money is being spent. This can be useful if you’re trying to keep track of a spending addiction, or if you’re a business owner and need to monitor employee purchases. The main reason why this is beneficial is that it allows you to have control over your money and where it goes.

This can be helpful if you are trying to change your spending habits and find it difficult to stay disciplined.

As a business owner, being able to track employee purchases can be helpful for accounting purposes. You can see if employees are spending their money on what they’re supposed to.

More Secure than Cash

One of the primary reasons why you should use cryptocurrency as a payment method is because it’s more secure. When you use cryptocurrency, you can be confident that the transaction is protected and secure. However, this isn’t true when you use cash as a payment method.

The main reason why cryptocurrency is more secure than cash is because it is digital. This means that it is stored as data in a computer system and can’t be held in your hands like paper money can be.

You Can Avoid Tracking and Surveillance

Another reason why you should use cryptocurrency as a payment method is that there is less tracking and surveillance involved. This can come in handy if you need to avoid being monitored as a payment method. You can avoid being tracked when you use a credit card or a debit card.

If you use a credit card, your bank can see what you purchase, where you purchase it from, and how much you spend. If you use a debit card, your bank can see where you spend your money. This is good for any buyers who doesn’t want to get hacked. As for sellers, they can discreetly transact with their auto leads client and establish stronger trust.

Posted by Ness Shantel in Cryptocurrency