I nvesting in cryptocurrency can be a wise move. However, the crypto world can be quite overwhelming for newcomers. Being able to determine which sources to trust when surrounded by the sea of online information is particularly tricky, yet it is important for your success as an investor.
You cannot simply buy any currency that looks best at the moment. You need to first understand how cryptocurrencies work, the pros and cons of different investment options and the companies you can work with to make sure your funds turn out well in the end. It takes plenty of time and research to understand how to get started to avoid costly mistakes.
Here are some of the trustworthy, up to date resources you can take advantage of in order to learn the ins and outs of cryptocurrency investing trends:
Bookmark them, and dive in!!
So you have chosen the red pill and have invested in Bitcoin, now what should be your next investment? Bitcoin is just the tip of the iceberg. There are over 1000 different types of cryptocurrencies and crypto-assets.
CoinMarketCap groups all of them and ranks them by their market capitalization. It keeps an eye on the most appropriate cryptocurrency exchanges and shows current prices, gains/losses as a percentage and trading volumes for each cryptocurrency.
It is a simple, yet effective tool for surveying movements in the market, and identifying assets that you would like to learn more about.
Reddit is one of the trendiest websites in the world and many cryptocurrency communities dwell and bloom there. Almost every cryptocurrency has its own subreddit (r/litecoin, r/ethereum, r/monero), which is a great way of discovering unknown coins and start diversifying your portfolio
Subreddit community work really well to filter out noise from all the information available online because while anybody can post new information, the community votes on the quality of these posts, so you will only see the posts which people agree are the most interesting and appropriate.
Also if you would like to have a more casual atmosphere with a helpful environment, try out the various crypto-related subreddits on Reddit.
One of the best ways to learn about the amazing world of cryptocurrency & blockchain technology is to tune into YouTube. Whether you want to follow a more data-driven individual or someone with a funnier streak, you can simply pick and choose the crypto influencer based on their style & information on Youtube.
Here are some best cryptocurrency Youtube channels
- DataDash– DataDash is best for everything related to cryptocurrencies, data analytics & marking global trends through advanced analysis.
- Box Mining– With more than 100k subscribers, Michael’s channel Boxmining has a better reach in the crypto community. Michael usually talks about news updates, technological growth, and coin reviews.
- Ameer Rosic– He is a serial entrepreneur and a Blockchain evangelist. Ameer is also a speaker and a blogger in the blockchain industry who has appeared as an analyst on sites like VentureBeat and Huffington Post.
- Ivan on Tech: Ivan’s Youtube channel Ivan on Tech is a global phenomenon spreading knowledge about the blockchain technology to viewers from all over the world. Attend one of Ivan’s talks and you’ll have a blast!
It’s completely up to you to find new videos to learn from. Just be sure to always use a logical filter and be alert as there are deceivers out there too.
If you have invested some of your hard-earned cash into Bitcoin or any other cryptocurrency then you probably want to stay updated with all the latest news about the cryptocurrency. Mainstream outlets haven’t been covering cryptocurrency that much until just recently. However, two exceptional sources that have been staying ahead are CNBC and Forbes.
Certainly, these channels are pushing out crypto content thus showing that they’re turning their interest to this space in a crucial way. The far-reaching site publishes several articles per day and covers more than just news including interesting feature-length pieces and market analysis
The Merkle is the news website which was founded in 2014 and offers informational posts, sponsored posts, and breaking news pieces. It has a section with a variety of educational articles related to cryptocurrencies. You can find everything from how to make money with crypto’s to how to create your own cryptocurrency.
Ledger Nano is a hardware wallet which is based on dynamic safety characteristics for storing crypto resources and digital payments. You can connect it to any computer which embeds a safe OLED display to confirm every transaction with a tap on its side buttons.
Trezor is one of the most trustworthy hardware cryptocurrency wallets. It never exposes your keys and cannot be affected by malware. If you are planning to invest in a large number of cryptos then this one should be on the top of your list of crypto wallets.
It is just like a digital calculator which creates random 9 digits pin and a recovery key with 24 words which is helpful in case the device is lost or damaged.
This is an open source website to create a private and public key for storing your bitcoin and you can subsequently print out the wallet using the printer. The resulting record will have your keys and a QR code which you can store for safe keeping.
MyEtherWallet is different from other conventional web wallets. Because unlike other web wallets, here you can manage Ethereum’s private key on your machine. It is an open source crypto wallet without third-party servers where you can write down and access smart contracts. It has an inbuilt BTC to ETH (and vice-versa) trading feature.
It is like a browser to access the Ethereum network. It not only allows you to store and send Ethereum, but also enables you to access decentralized Ethereum applications. It has an intuitive design where you can switch fast between a test network and the main Ethereum network.
It is the largest crypto exchange with over $20 billion trading volume and more than 10 million users. The exchange offers access to Ethereum, Litecoin, Bitcoin, and Bitcoin cash. It also provides an active trading platform known as GDAX that has many features and analytics for short-term crypto investors.
Pros: Security, Reasonable Fees, Beginner friendly, stored currency is covered by Coinbase insurance.
The China-based cryptocurrency exchange started trading in July 2017, so is comparatively new to the crypto exchange world. However, it has proven itself to its clients with its tough software and both basic & advanced interface which attracts both novice and expert traders.
Pros: Low fees on transactions, a vast array of coins including rare coins, Good reputation, high liquidity
Gemini is a fully regulated licensed US Bitcoin and Ether exchange. The exchange functions through a maker-taker fee schedule with concession available for high volume traders. All deposits and withdrawals are free of charge.
Pros: Security & Compliance, user-friendly design, great analytics & high liquidity
It is the leading Bitcoin exchange in Euro volume & liquidity. It let you trade bitcoins in Euros, US Dollars, Canadian Dollars, British Pounds and Japanese Yen and allows you to trade altcoins like Monero, Ethereum, Ethereum Classic, ICONOMI, Zcash and more
Pros: Low transaction fees, Minimal deposit fee, Feature rich, Great user support, Secure, Good reputation.
Poloniex is one of the world’s leading crypto exchanges. It provides a secure trading atmosphere with sophisticated tools to analyze the data for advanced traders. Poloniex utilizes a volume-tiered, maker-taker payment schedule for all deals. So, fees are different and it depends whether you are the maker or the taker. For makers, a fee varies from 0 to 0.15% and it depends on the amount you are going to invest.
Pros: Fast account creation, BTC lending, High-volume trading, low trading fees, User-friendly, Open API.
As a newbie in any venture, getting precise information is an important factor to understand that industry. The crypto market is no different. So buckle your seatbelts and learn about all the different aspects of the cryptos and its underlying technology. There is no better time than now to know about and invest in projects you believe in for better ROI. Good Luck!