What’s your best Bitcoin investment strategy for 2018? We have seen this year a huge increase in people joining the cryptocurrency train, or rocket I should say, as Bitcoin that was at $800 last year on Christmas Day increased to $14,500 in one year. Seeing Bitcoin reach $19,000 this month, and then going back to $12,000 might have caught your attention.
How can you invest safely in cryptocurrency without suffering a huge loss, what are the best strategies to invest for 2018? The market cap of Bitcoin and also other main cryptocurrencies has increased dramatically as more and more people jump in, a lot without a clue on what they are doing and consequently loosing a lot.
What’s your Best Bitcoin Investment Strategy for 2018?
Jerry Banfield has made a video about his experience with cryptocurrencies and it is what I’d like to write about in this post.
Jerry suggests that you have to know yourself first before investing. Do you have time to follow the market for a multi cryptocurrency investment if you choose diversification? Do you have time to trade cryptocurrencies or do you want to just hold them? Would it be simpler for you to just go all-in in one single cryptocurrency?
It’s what Jerry Banfield did, he went all-in in May 2017 with Steem and it’s going to be that way in 2018. He explains in the video that you have to research and find a cryptocurrency that you want to be a part of and get all-in with it. It’s like buying stock, if you like your Mac, you are going to buy Apple, not Microsoft.
Jerry started to be all-in with a Bitcoin investment a couple of years ago because this was mainstream, and then he moved onto Dash buying a masternode for $11,000, which he sold later at $85,000. During his time with Dash he promoted it heavily and this contributed to its increase in value, but unfortunately he realized that the Dash community was not the one he wanted to be. So, it’s not a question of only making money, but pursuing what you believe in.
Dash is now at $1,192 and if he had kept his Dash masternode, it would be worth $1,192,000 today. There is no regret to have because when you invest time and money in something you believe in, not only it will be more fun, but it will increase in value the same. He started investing all-in in Steem after researching it and starting his blog on Steemit.
He used what he earned selling his Dash masternode and got a total of 30,846 Steem to start with, which was about $30,877 at the time. Then, he blogged daily on Steemit, set-up a server to become a witness, a voting bot and was very active this year to promote Steem. Now his account is worth 100,000 Steem, for an estimated value of $311,481.
As you can see going all-in can be very rewarding.
Jerry does not say that you should join Steem as your all-in currency, because you might find something else that resonates better with you. If you do not know about Steem, learn about it, because it is more than a cryptocurrency and there are many ways you can earn Steem, compared to having a Bitcoin investment sitting in a wallet and earning nothing more.
Jerry also talks about the risks of going all-in on an exchange and the importance of diversifying on different exchanges, also the risks to hold coins on your own computer and forgetting the password.
I recommend to watch Jerry’s YouTube video, where he share his experience with cryptocurrencies and gives you valuable tips on how you can play it safe and not repeat his own mistakes.
Best Bitcoin Profit Plan?
Published on Dec 9, 2017
How do we make the best profit investing in cryptocurrencies like Bitcoin? Which wallets and exchanges are the safest to keep our money in? Where do we cash out our digital currency to fiat currency like USD? Why is going all in preferable for many compared to diversification? When will the cryptocurrency market show the best time to buy and sell?
This is Jerry Banfield’s Steemit blog: https://steemit.com/@jerrybanfield
You may also be interested to take these courses for Free:
- Earn Steem with Steemit! https://u.jerrybanfield.com/courses/steem17?coupon=jbfree
- Cryptocurrency Investment and Retirement Planning with Bitcoin/Altcoins on Poloniex and Bitfinex! http://u.jerrybanfield.com/courses/cryptocurrency?coupon=jbfree.
- Bitcoin Trading Basics with Poloniex. http://u.jerrybanfield.com/courses/poloniex16?coupon=jbfree
- How I Buy Bitcoin at 101% and Sell at 111%! http://u.jerrybanfield.com/courses/btc111?coupon=jbfree
You may also be interested to read this post: Best Bitcoin Investment Strategies for 2018?
And this one: Cryptocurrency Investment Strategies
I hope this is useful for you.
I wish you a Merry Christmas!