In times of turmoil, look to Cryptocurrency for stability
With massive economic uncertainty everywhere you look due to Brexit, the US Trade Wars, and the deterioration of the EU in general, where should you invest your money to enjoy a little more stability?
If you look at the UK financial markets right now, there’s no really good savings investment opportunities. No matter what you choose, the % return on investment is pretty dire. Property investment for leasehold seems to still be a pretty safe bet, but even that market is struggling to remain buoyant in these uncertain times.
So is investing in Cryptocurrency really a truly safe bet?
Well firstly, it’s important to understand that as with all investment opportunities – the value of your investment may of course go down as well as up. So if this is your first time investing in Cryptocurrency, be sure that you’re following the safe rules of investing in general and only invest a small proportion of your overall wealth, and don’t invest more than you can afford to live without should the worst happen and the Crypto markets take an unexpected dive.
The easiest way to get involved is by signing up to a Cryptocurrency wallet service Online – a quick Google search will point you in the right direction.
Most Cryptocurrency wallet services now offer desktop and mobile services, meaning you can manage your account anywhere and at any time of the day. You can sign up to these as you would sign up to any website. Enter your name and email address and set a password to get started, choose a user name and password (for added security you should ensure that this password is totally different to any others so that it could never be cracked).
After that, it’s time to connect your bank account, debit card or credit card. Use two-factor authentication to secure your account, but don’t use your phone number or mobile number – it’s best to set up a new email account, separate to your main email, so you have a totally separate email account for all your Crypto dealings and no-one can then use that random email address for anything else of yours. According to security researchers, criminals only need to know your name and number in order to steal from your Crypto wallet so make sure you follow the above rules and stay safe. (NB. Some places will also let you use Google Authenticator – a quick Google search will tell you how if you don’t already know).
Once you’ve done this, you can start investing in Crypto. Whichever service you decide to use, you’ll be able to access a graph showing how your chosen currency’s value has changed over time.
From there on in, you’re likely to become hooked and you’ve taken your first important steps to becoming a genuine Crypto trader….enjoy the ride!
_Blog post by Bob Pattni_