Critical advice and the best coins for anyone entering the crypto space
Are you looking for life changing returns on a small investment?
Investing in Bitcoin and numerous different altcoins has made countless millionaires and many billionaires out of every day folk, like you and I.
While it isn’t common for the average crypto enthusiast or trader to stumble upon a coin that will turn them into a millionaire overnight, regular small investments into a diversified portfolio, in combination with a great deal of patience, has proven to be the secret formula for amassing extreme wealth through cryptocurrency.
In 2010 you could purchase a Bitcoin ($BTC) for as little as 10 cents. Over the course of 11 years, it has steadily grown to a value of over $60,000 USD (at the time of writing this article), with upward momentum . A $5 investment in 2010 would be worth more than $1.5 million today, and likely more in the future as Bitcoin’s price just continues to climb to new highs.
Some of the newer projects in the crypto space, including “meme” coin Shiba Inu ($SHIB), have experienced price increases of up to 40,000% in a matter of months. An investment of $20 in 2020 would be worth more than a million dollars in 2021. The excitement of seeing such rapid upward price movements drew in many investors, who were crushed when the coin’s value plummeted after whales took profits. Shiba Inu’s price is again on the rise and primed to reach new all time highs.
Bitcoin has certainly established itself as the ruler among all cryptocurrencies, but with more than 6,500 coins to choose from, and more appearing every week, it is not hard to find a project worth investing in for short, medium or long-term financial gains.
The beauty of the cryptocurrencies is that, unlike the publicly traded stocks on exchanges, you don’t need a hefty minimum investment to get started. Most exchanges allow you to purchase only $5 worth of coins and when done regularly, this can build up into a very impressive portfolio.
Aside from making money, certain crypto currencies are also fantastic for efficiently and economically sending and receiving funds, as well as acting as a store of value. Each coin has it’s own diverse use, so before investing, it’s also recommended to do some research into the project and what the team is working towards achieving.
Want to get started? Below are a few of my favourite places to buy and trade cryptocurrencies, as well as earn interest and rewards for holding.
Binance: perfect for anyone who is learning about crypto, with an easy to use app and trading platform. Also great for “staking” your coins to gain interest on your holdings.
Cointree: the best place to buy, sell and trade cryptocurrencies with $AUD.
Bitfinex: a good platform for more experienced traders.
Some of my favourite projects are listed below with their values, at 19 October 2021. Follow the link from the ticker symbol to see detailed graphs and current pricing.
Some cryptocurrency values can rise and fall by up to 50% in a matter of hours, so it is important to understand market cycles and what drives the highly volatile price changes, before deciding whether or not this investment is right for you. Buy low and sell high, not the opposite.
My favourite exchanges: