HOW TO INVEST AND EARN PROFITS FROM BITCOOIN OR/AND ALTCOINS?

Bitcoin Questions and AnswersHOW TO INVEST AND EARN PROFITS FROM BITCOOIN OR/AND ALTCOINS?

Joan asked 3 months ago

Hello. How do I invest and earn profits from Bitcoin and/or altcoins?

1 Answers
Steven Hay answered 3 months ago

Hi Joan,
 
Wellr, however you invest, profits are never guaranteed.
 
Probably the best and easiest way is to download a good wallet from the coin’s official website or one of the ones recommended here in our Wallet Reviews section. Then each month at the same time, use the same amount of money to buy the coin(s) you want on an exchange and withdraw them to your wallet. This strategy of buying a set amount at a regular time is known as Dollar Cost Averaging. It will allow you to slowly accumulate a position over time at an average price. It works well because it’s really hard to say when a coin is cheap and when it\’s expensive – so this takes all the guesswork out of trying to time the market. I also suggest holding your coins over the long term. Set some type of target for when you’ll take partial profit then wait for it to occur, then let the rest ride until you really need it.

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