For people who have traced the movements of Bitcoin since its inception, it’s hard to believe that it has only been around for less than a decade. As discussed here on HolyTransaction, the world’s first cryptocurrency has had a wild ride so far, from the downright bizarre (two pizzas for 10,000 BTC) to the extremely exciting. As of the start of the year, Bitcoin’s market cap was valued at $280 billion (€226 billion), with cryptocurrency like Ethereum following at impressive valuations of $90.4 billion (€73 billion).
These figures make investing in cryptocurrencies incredibly tempting, but also quite daunting. With such a young market, there aren’t a lot of set rules or trends that can help guide you on your investment journey. This is where looking at similar trading commodities like gold and other precious metals come in. After all, FXCM explains that gold trading is simultaneously one of the oldest and most exciting ways to invest in global markets, and this remains true whether in times of war and turmoil or peace and prosperity. With the right focus and lots of discipline, there’s plenty of wisdom to be uncovered from looking at the history of gold trading.
Whether you’re a beginner looking to dip your toes into the cryptocurrency pool or an experienced trader hoping to build your wisdom in Bitcoin investing, here are five golden lessons for today’s cryptocurrency investors.
Diversify, diversify, diversify!
This tip seems basic, but focusing on a single trading commodity remains one of the most common mistakes investors make. A conservative position in gold investing means a maximum of 10% gold in your portfolio, and this is something that you can keep in mind when investing in cryptocurrencies. This can not only protect you from unexpected Bitcoin price dips, but can also open up better growth opportunities with lower risks and good returns. From the over 1,300 different cryptocurrencies in existence, This is Money recommends looking into altcoins like Litecoin, Monero, and Dash this 2018.
Stay calm in the face of volatility.
Gold can easily swing by a hundred pips and reverse every few minutes, which means trading in gold requires a certain degree of thick skin and steel-like determination. These are also very handy when trading cryptocurrencies, which are infamous for their volatility. In crypto-speak, be ready to “HODL”, or hold on for dear life (your coins), even when everyone else is panicking.
Set a loss limit.
Be sure to set acceptable loss limits for your investments and avoid buying too much. Financial Times reports that even a trusty commodity like gold has its own set of risks, which means it’s healthy to set stops for each individual trade for a maximum allowable loss that you are comfortable with. Invest only what you can stand to lose, and keep evaluating your trading strategies to learn which cryptocurrencies are best suited for you.
Keep your eyes on the prize.
Whatever your feelings are about shiny yellow metals or blockchain-enabled digital currencies, Forbes claims that these are still commodities that can be sold when prices are high and bought when prices are low. Focus on market trends and see where the prices are heading, and use these to inform your decisions. Pay attention to cycles, growth patterns, and market potential to make decisions, instead of which cryptocurrencies everyone else is buying.
Security and safety is a must.
Last but not least, invest only on trusted trading platforms and certified services. Millions of people have been victimised by gold-related scams and fraudulent brokers over the years, and it’s important to carry the same level of vigilance when carrying out cryptocurrency wallet transactions. Keep your money and investments safe with your free digital wallet here at HolyTransaction.
Do you have any other tips for cryptocurrency trading? Let us know in the comments below!
Open your free digital wallet here to store your cryptocurrencies in a safe place.
How about opening a Universal Wallet to hold and exchange your ZRX?
From today it is possible as we at HolyTransaction have decided to add ZRX to be among the 20 cryptocurrencies available on our multicurrency wallet and instant exchange.
So from now on you can store ZRX on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from and to ZRX. All HolyTransaction customers can create a new address for their own 0x Token Wallet.
ZRX Wallet features
Just like Bitcoin and all the other 19 digital currencies supported, you can now:
• Send 0x Token to any address, even to addresses of other crypto, with instant conversion on the fly;
• Receive transactions;
• Exchange 0x Token with any supported coins;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set OTP for additional protection.
If you are not able to see your newest ZRX Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.
What is 0x Project?
0x is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. It is being used for streamline token trading in decentralized exchanges, executing off-chain orders via Ethereum powered smart contracts.
0x’s decentralized trading focuses on an off-chain ordering relay that cuts back on gas prices and reduces network bloat. Only value transfers are executed on-chain, leaving all other trading commands to off-chain procedures.
The creators have imagined the world to go around the Ethereum blockchain, allowing assets to have everything from digital game items to stocks, gold, and fiat currencies. They imagined tons of different types of tokens, and an opportunity for improvement. There is a huge possibility that by 2020 thousands of assets will be tokenized. In the future, all cross-blockchain solutions will allow cryptocurrencies to freely and move between blockchains, without limits. So the 0x Team created a form where people interested in building a relayer can connect with one another.
Do you want to open your 0x Token wallet? Click here.
Open your free digital wallet here to store your cryptocurrencies in a safe place, while always being ready to exchange it instantly.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Want to open a Vertcoin wallet?
You’re at the right place, as we at HolyTransaction decided to add Vertcoin to our multi-currency wallet.
So from now on you can store VTC on HolyTransaction, transfer them to any other wallet, and make crypto-to-crypto transfers using Vertcoin along with 18 other cryptocurrency networks.
All HolyTransaction customers can create a new address for their own VTC wallet and take advantage of the user-friendly HolyTransaction platform to send or receive transactions and instantly convert them to other cryptocurrencies we currently support.
What is Vertcoin?
VTC is a digital currency that can be sent between people over the internet.
Vertcoin (VTC) stays true to the original vision of cryptocurrency: a financial system owned by its users, the people’s coin. Vertcoin’s algorithm is designed to resist the development of custom mining hardware and multipool mining, ensuring that transactions are validated by a widely distributed network and avoiding the selling pressure when large mining pools indiscriminately flood the market with freshly mined coins.
Vertcoin Wallet features
Just like Bitcoin and all the other supported cryptocurrencies, you can now:
• Send Vertcoin to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
• Receive transactions;
• Exchange Vertcoin;
• Make instant transactions between HT users;
• Get real time exchange rates on the website;
• Set up OTP for additional protection.
To add Vertcoin to your wallet, click on the plus button on the top right of the balance page once you have logged into your wallet.
Do you want to open your Vertcoin wallet? Click here.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Do you want to open a Creativecoin wallet?
You are in the right place, as we at HolyTransaction decided to add this cryptocurrency among the 17 crypto available on our multicurrency wallet.
So, from now on you can store Creativecoin on Holytransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from/to Creativecoin, and ten more cryptocurrency’s networks.
All HolyTransaction customers can create a new address for their own CREA Wallet and use the user-friendly HolyTransaction Wallet platform to send and receive transactions or to instantly convert them to any other cryptocurrency we currently support.
Just like Bitcoin and all the other supported digital currencies, you can now:
If you are not able to see your newest Creativecoin Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.
Creativechain has created its own coin called Creativecoin (CREA), the first cryptocurrency designed to meet the needs of all creative communities that produce and distribute digital content.
Creativechain is a decentralized platform for the registration and distribution of multimedia content that proves in an indelible way the authorship and license of any work or creation.
Imagine a social network of content exchange like Facebook, Spotify or Youtube totally decentralized, without managers or intermediaries, without censorship and with its own P2P system of electronic money based on its own cryptocurrency.
The technological innovative proposal of this platform also directly challenges the centralized power of traditional systems of copyright management entities.
The platform applies the power of attorney of blockchain technology to create incorruptible timestamps that certify the authorship of any digital work such as photos, videos, films, texts, electronic books, software or any digitizable file. Creativechain is presented as a public and transparent alternative of intellectual property registration according to the new times, in which there are so much cultural production circulating on the internet.
Blockchain technology opens up a universe of possibilities for the registration and distribution of intellectual property without intermediaries. The power of attorney along with the decentralized p2p distribution of digital content create a new paradigm shift in the era of digital culture.
So, do you want to open your CREA wallet? Click here.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
We’ve been working to provide you with two new Cryptocurrency portfolio options.
As of today, you can instantly purchase Faircoin and Gamecredits through your Holytransaction wallet, transfer them to
any HolyTransaction’s user for free, and make crypto-to-crypto transfers between Faircoin, Gamecredits, and seven more cryptocurrency’s networks.
Today Faircoin and Gamecredits join HolyTransaction.
All HolyTransaction customers can create new addresses for FAIR (Faircoin) and GAME (Gamecredits) balances and use the simple HolyTransaction Web Wallet to send and receive transactions or to instantly convert them to any other cryptocurrency.
Just like Bitcoin, you can now:
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Recently we at HolyTransaction created a new add-on for the Firefox browser only to see the exchange rates for cryptocurrency pairs.
Open your free digital wallet here to store your cryptocurrencies in a safe place.