Investing with Cryptocurrency
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Cryptocurrency is a fast moving and exciting world. There are numerous ways to profit from it but many of the old adages ring true – if something sounds too good to be true, it probably is. I believe everyone should hold a cryptocurrency portfolio. Whether it is simply to buy Bitcoin, or to create a portfolio and add to it either occasionally or regularly. If this is something you are interested in learning about check out my blog post here and PowerPoint Presentation available in the shop here.
Many people like to grow their cryptocurrency once they have it. Just as Bitcoin can provide a hedge against fiat, platforms can provide a hedge against crypto volatility. There are a wide variety of platforms you can use to grow your coins with – from the legitimate, to the outright scam and everything in between. Although cryptocurrency is unregulated and is not universally defined (it is considered an asset, commodity or currency depending on which country you live in), businesses must still adhere to the local governing bodies rules and restrictions in their business undertakings. To learn more about general investing rules and red flags click here.
Identifying different types of platforms
It's important to understand that not all platforms are equal. A few are legitimate and follow all rules and regulations. Others work within grey areas and are somewhat compliant. Far, far more are scams – from the elaborate to the downright obvious. Choosing a platform that suits you and your risk tolerance is therefore critical. Below I outline the three categories I use.
Slow and Steady, Registered and Secure.
These are the companies who try to stay above board in everything they do. These businesses are in it for the long haul. They tend to offer low returns over a longer time period and often do not rely or require large or fast growth to achieve returns. They tend to offer referral benefits if anything and are therefore more affiliate based which is more suitable for longevity. Although they may fail – as any business might – there is less risk of this happening than many other companies in this space. I list some of these companies I like and promote here under Slow and Steady, Registered and Secure.
Larger Capital Longer Term Platforms.
Some companies will try to meet some surface aspects of compliance – they might work with wording or operate in the grey and undefined areas. After all cryptocurrency is fast moving and often operates in grey areas because Governments, laws and general bureaucracy are cumbersome and slow. These companies generally want to be around for the mid – long term but are also focused on high returns and getting big fast which can be their undoing. They are often structured using MLM or binary systems which are highly rewarding for large scale promoters but not necessarily so for a simple investor. These companies often have a considerable starting point (usually from $500USD), come with a greater risk and as such are usually listed further down under Higher Capital Long Term Platforms.
Smaller Capital, Quicker Return Platforms
Other companies I work with are in the Smaller Capital, Quicker Return Platforms category. I have only a few selected and trusted ones as although this category is the most common and requires less of a capital outlay, they tend to be the riskiest. These platforms usually do not attempt to follow the governing rules and regulations. They often want quick gains and are too often scams or else have several significant red flags. In rare cases they are genuine and operating in a very grey area or are uneducated/misadvised in registration requirements. Some of these companies will hope to last, while others are wanting to get as many people to deposit as quickly as possible before they disappear.
Even so, there are a few gems and with many of these companies it is possible to profit depending on both your entry and the strategy you use while in the platform. (The ethics of this is debateable and you must determine if the risk is worth the payout for you.)
You should understand and acknowledge the category of platform before getting involved as well as your withdrawal strategy and make sure you regularly review the platform with fresh unbiased eyes. My favourite Shorter Term, Higher Yield Platforms are listed here.
Know Yourself and What Platforms Suit YOU
This world of Cryptocurrency is fast moving and exciting, with many varied opportunities that can suit anyone. Stick with platforms that suit your wants and needs. Don't be too heavily weighted in one platform category. If you are wanting a set and forget and don’t have the desire or ability to check in on a platform regularly then buying half a masternode in Nodexo would be a better option than getting involved in Cloud Token. If you want to be hands-on and enjoy seeing significant daily progress, then a Promo Pack with a.i.m. would be much better for you than a 21CoinWorld mining contract. Look at every platform for key red flags when doing your due diligence and assess if the risk is worth it for you. Only you can determine what suits you. Remember, always use Platforms to help grow your own crypto Portfolio for the long term. To learn more about creating a balanced portfolio click here.
To access a simplified 3 month plan customised to YOU and your risk tolerance, budget and goals click here for my 3 month Portfolio Plan. Alternatively check out my freebies under start here for some fantastic PowerPoint Presentations to get started today!
Please note these categories are not fixed – it’s possible for a high capital platform to make no effort to stay within the regulation restrictions. It’s also possible for Shorter Term, Higher Yield Platforms to adhere with rules and be legitimate.