Start your own Business-Cryptocurrency Trading
What is going on ladies welcome back to my blog;! Today I wanna write about how you can invest in Cryptocurrency and how you can start and how much money should you invest in crypto?
Without a doubt, cryptocurrency investment is extremely high risk. Even if you put your money into bitcoin, the most reputable cryptocurrency around is still investing in experimental technology. So what’s the perfect amount to invest in bitcoin or other cryptocurrencies? Well, let me just cut to the chase. There is no one answer to this question, which will be appropriate for everyone. The recommended number by many financial experts who are in the bitcoin space recommend between one to two percent of your total investment portfolio in crypto. However, the younger you are the higher the risk you can take. Some millennials have over 10 percent of their portfolio invested in crypto. So what should you do? Well, unfortunately, I can’t make that decision for you, especially since I’m not a financial advisor, but from the research that I’ve done. There is a strong argument for some exposure in the cryptocurrency market, but going all in that seems quite extreme. I’d like to mention that if you don’t have the emergency fund set up yet that can cover your expenses for at least three to six months, I don’t recommend investing in crypto. Yet you need to get your affairs in order before you start risking money, especially in something that’s so high risk and volatile.
Will you need this money for anything at all in the next 12 months? If you need this money for tuition or bills cell phone credit card vacation, whatever it is, then you should probably not invest. This into crypto statistics shows that 99 of crypto investors are profitable over the long run. So, that’s why you need to prepare to have your funds in the market for at least 12 months. The next question to ask yourself is: will you be okay if you lost your total investment? I know scary right, but that’s definitely something that we have to ask ourselves before making an investment. You have to think about this because it is a real possibility to lose your investment, and you have to be okay with it. So the amount that you’re investing has to be an amount that, if you lost it all, will not in any way shape or form affect your daily life and your day-to-day life. The thing is you can’t use it to buy goods or services and, at the end of the day, bitcoin’s all about being able to control your own money and your own destiny, and these platforms don’t really allow you to do that.
Which platform you choose to buy Cryptocurrency?
I trust and recommend Bitbuy; why?
If you live in Canada, using Bitbuy, A Canadian CryptocurrencyExchange Bitbuy, has been a premier CanadianCrypto Exchange since 2013.
- Canadian Centric Bitbuy is a great option for Canadians, as they are both based and regulated in Canada, So they focus specifically on servicing their Canadian market. For instance, Canadians are unable to take out Canadian funds on the Coinbase platform.
2. Bitbuy has top-rated customer service support, Often responding to any inquiries on the same day they receive them.
3. Bitbuy features and easy-to-understand fee structure with transparent transaction summaries.Sounds, pretty good right. So in this next section, let’s set up a Bitbuy account and check out the platform together.
Currently, Bitbuy supports the following digital currencies: BTC(Bitcoin), BCH(Bitcoin Cash), ETH(Ethereum), LTC(Litecoin), XRP(Ripple), XLM(Stellar), EOS
* It’s important to take the necessary steps to set up your own personal bank before buying cryptocurrency. *
Let’s get started click on the Bitbuy link to ensure you access the correct site safely Then make sure you bookmark this page and access it only through your bookmark to avoid becoming a victim of phishing sites Enter the Protonmail account.
Now it’s easy just sign-up easily like enter your information and next Enter a long, Strong, Password and confirm it Click to verify you’re not a robot. And then click sign up Login to your email account that you entered before, open the email and click verify my email.
Awesome, Your email address has been verified. You can click here to sign in Enter your, email, password, click to verify, I’m not a robot, and click sign in entering your phone number to secure your account when making transactions and then click Add Phone number, and A text will be sent to your phone with a verification code. Enter the code and click sign in.
Before you can buy and sell cryptocurrencies on Bitbuy You’ll need to verify your identity Enter your name Date of Birth and Phone number Entering your social insurance number is optional.
Choose your occupation from the drop-down menu and then scroll down to enter your address Below that you will need to disclose if you are a politically exposed person or the head of an international organization and then consent to electronic verification of your identity. Next click request verification Note that instant verification may take up to 2 minutes If you’re verified Great
If your identity was unable to be verified automatically, you will need to submit some documents. This includes the photo of your ID, a Selfie with your ID and a note and a financial statement, and a utility bill. When these items have been uploaded, you can click request verification. You will receive an email when your account has been verified
You will receive a text message with the verification code on your cellphone Enter your code in the space provided and click sign in. Once logged in you may receive a notification, review It and click Got it.
On the main screen, you will see all the list of cryptocurrencies, currently supported by Bitbuy. At the top, you will see a notification stating to get started, add cash to your cash balance in order to buy digital currencies. So, let’s click on the add funds button. You will see three payments: methods Express E-transfer, Interac E-transfer, and BankWire.
How to fund your account?
Express E-transfer: Let’s check out the Express E-transfer option, The transfer amount for this option must be between $ 500 and $ 10,000 dollars. If you click on the information here, it will be copied to your clipboard, so you can easily paste it. Into your online banking e-transfer form. Once you’ve completed, the E-transfer with your bank click, have sent an E-transfer Confirm the amount you sent button to be deposited to your Bitbuy account then click. Next, A code will be sent to your phone Enter into the space provided and click add funds. Your funds should be added to your cash balance within two hours, which is quite fast. Let’s return to your accounts.
E-transfer: Click on the add funds button and check out the Interac E-transfer option, The transfer amount for this option, must be between $ 100 and $ 10,000 dollars, Read through the other requirements, and when you’re ready, you can click on the information below to copy into your clipboard and paste it into your online. E-Transfer form Once you’ve completed the E-transfer, with your bank click. I have sent an E-transfer button Confirm the amount you sent to be deposited to your Bitbuy account. Then click next and enter the code sent to your phone into the space provided and click add funds Cool Your funds should be added to your cash balance within, 24 hours.
Bank Wire: Click return to accounts, and click, add funds And, let’s check out the Bank Wire option the transfer amount for this option, must be between $ 10,000 and $ 500,000 dollars, Enter the name of your financial institution and the amount. You wish to transfer Review the summary and click next Enter the code sent to your phone. The space provided and click add funds.
The Bitbuy team will contact you with your appropriate banking information Click return to accounts By clicking on the three dots. Here you can access the withdraw function to transfer your available cash balance back into your bank account at any time For the payment method, you can choose Interac, E-transfer, Electronic BankTransfer Bank Wire, or Expedited bank Transfer. Enter, your bank name and simply click next to proceed Another way you can fund your account is by depositing any Bitcoin or other supported cryptocurrency into the corresponding wallet on the Bitbuy exchange. Before funding your account, Let’s go to your account settings In the SecuritySection. You will see Two Factor. Authentication for SMS is on. Don’t forget before buying cryptocurrency, You will have the google authenticator app set up on your phone.
Now let’s turn on Google Authenticator: Open the google authenticator app on your phone and tap the scanned barcode, Lift your phone as if you’re taking a picture of the QR Code on your computer, screen. You will see a six-digit code that changes every 30 seconds or so Enter that code into the space provided before the time expires. And code changes then click validate code.
Awesome, Google Authenticator is on for your two-factor authentication In the security section. You can also change your password and view an audit log of your account’s transactions. Security history Below the security section you will see your referral code and a referral. Link. You can send this referral, link, or code to friends and family to receive $ 20 after they sign up for Bitbuy and make their first transaction. Below that, you will see some basic account: details and your contact information at the bottom. You will see a financial regulation section and your account status,
Here you can choose the deactivate your account if you ever need to. Scroll to the top and click close to navigate back to the main menu. If you look at the top menu, you will see that you’re on the express trade screen. Here you can quickly and easily buy and sell cryptocurrency with FIAT for the market price Back on the top menu.
On the main screen, click on the Pro trade on the top menu You’ll be brought to a screen with many features. First market history, charts to the bottom left, market trade history, data to the right of that towards the center, and order book.
Here is a video that show how you can buy Bitcoin easily:
On the top left, if you tap on the BTC to CAD a drop-down menu, will appear featuring all the pairs, you can exchange using the pro-trade feature Like ETH to BTC LTC to BTC, and much more so, let’s buy and sell some cryptocurrency Click market in the top left part of the screen. In the new order, section enters the amount you wish to exchange. Then simply click buy Awesome You can see your market order in the bottom right corner here. Under the My order section in the bottom right corner, you will see all of your transaction history Using the filters here. You can click between the order types like open orders, field orders, etc.
*It’s not a great idea to leave your funds on the exchanges because they are constantly under attack by hackers. So you need to withdraw your funds to cryptocurrency hardware, wallet for safekeeping.*
Never buy a used, cryptocurrency wallet and never buy one from a site not listed below to make sure you get an official Certified device and not hacked one. So let’s withdraw the Etherium on the exchange to an Etherium Wallet on a hardware device by clicking withdraw Here. You can choose an amount to withdraw or click use, available amount to withdraw everything, copy and paste your hardware. Then click calculate fees, review, the transaction summary for accuracy, then click next. And finally, enter the code. You’ll receive it on google authenticator Great, your Etherium is on the way to your hardware wallet for safe storage.
I definitely recommend to join an online community of Cryptocurrency enthusiasts to be update about when you should sell or buy. If you don’t have experience and you don’t have time to trade daily or weekly, I suggest to buy and keep it longtime then sell it; in this way you you can get more benefit instead of loss.
I hope you enjoyed this post and it helped you to make the decision about investing in cryptocurrency if you like it so share it with your friends and family.
Photo by Moose Photos from Pexels
