BigONE View: Are you suitable for investing in the emerging cryptocurrency market?
“Cryptocurrency” used to be one of those new terms that most people had heard but didn’t understand, but that’s changing in recent years. According to research conducted by relevant agencies, it is currently estimated that approximately 21 million American adults own some cryptocurrency, which is equal to 14% of the total population of the United States. Furthermore, the agency predicts that more than 50 million Americans will buy cryptocurrency next year, with 22% having never done so before. This means you could become a cryptocurrency owner, but is this a wise decision for you? Before purchasing cryptocurrency, BigONE recommends that you ask yourself a few questions.
Do you know what cryptocurrency is?
Many people have heard of cryptocurrency, but do you know what it is and how to buy and sell it? BigONE recommends that you learn some cryptocurrency information before entering a cryptocurrency exchange to buy cryptocurrency because it will help you understand what cryptocurrency is more thoroughly.
Have you chosen the cryptocurrency that suits you to invest in?
When everyone is talking about cryptocurrencies, it is natural to think of well-known cryptocurrencies like Bitcoin and Ethereum because they receive a lot of media attention and have a large market value and number of holders. However, there are numerous types of cryptocurrencies available in the cryptocurrency market. According to relevant data reports, the global cryptocurrency market currently has over 10,000 cryptocurrencies. So, before you buy cryptocurrency, BigONE recommends that you understand one point. The most well-known cryptocurrency may not be the best option for you. Do more research and analysis, in conjunction with the amount of money you have invested and your risk tolerance to determine which future market you believe has the best prospects.
Does your future investment plan include cryptocurrency?
Although 65% of holders or people who have held a cryptocurrency will typically sell it within a year, BigONE believes that this does not obligate you to make the same decision. As an investor, your goal should be to build a strong investment portfolio and plan for the long term to achieve a higher return on investment. Alternatively, you can choose to take some risks in the short term to earn a return on investment and then create a unique investment portfolio for long-term investment goals. BigONE will not define short-term and long-term investment as correct or incorrect because the investment varies from person to person, depending on the amount of capital invested and your ability to withstand risks. However, whether you choose a short-term or long-term investment, you must ensure that using cryptocurrency as an investment method is consistent with your overall future investment strategy for yourself.
Do you understand the risks involved in investing in cryptocurrencies?
Before you begin investing, BigONE wants you to understand that there is no such thing as a risk-free investment in the world. As an example, consider stocks. When you open a stock account and purchase equities, some or all of them may decline over time. However, just as the stock market varies, so does the cryptocurrency market; therefore, before investing, please ensure that you understand the risks you may encounter while investing in Bitcoin. The risk assumed when purchasing cryptocurrencies is that no one knows whether it will become a widely recognized mode of payment, which will primarily decide its final worth. BigONE requires you to keep this in mind when deciding at this time.
Cryptocurrency is currently on the rise, but before purchasing, please ensure that it is consistent with your overall future investment strategy. There are many examples of people becoming wealthy overnight in the cryptocurrency market. Still, you must learn more, research more, and consult more before purchasing Bitcoin to guarantee that every investment decision you make is accurate.
BigONE, more than just asset security.
About BigONE
BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development.
