Cryptocurrency secrets: mars 2021

Communities have their benefits in all kinds of situations: They can provide you with information; they can even keep you safe and help you grow. Everyone would agree that communities are there for the mutual benefit of individuals. However, when it comes to investing, many people decide to go the route of the “lone wolf”. Those people would argue that it is important to “go against the flow” or “buy when everyone is selling”. Well, is this really the case, or did they just pick up some phrases without actually questioning them?

The Risks When Investing Alone

Going about investing completely by yourself might be a brave idea, unquestioned. But is it really the smartest path to take? Especially when you’re starting off, it can feel as if you’re being thrown headfirst into a pit of snakes and you gotta figure out which ones are poisonous and which ones are harmless. There are thousands of companies with thousands of different business models. Investing with a lack of knowledge about which shares can yield profits can quickly turn into a lack of funds to pay your bills.

Now, let’s say you don’t trust the heavily regulated stock market anymore (think GameStop), large corporations have become too powerful, and you’d rather put your money into a different kind of investment. Let’s say you’re fascinated by blockchain technology and so you decide to invest in cryptocurrency instead. Having ruled out some of the more traditional risks, cryptocurrency investments bring their very own set of new ones.

First, with market capitalisations sometimes very low, volatility can be extremely high. This makes coins very susceptible to pump-and-dump schemes. Because the cryptocurrency market is not yet quite as regulated as other markets, you can also end up investing in plain scams (not to say this can’t happen in the stock market, \cough** Wirecard \cough**). Second, not all cryptocurrencies are designed as security or utility tokens. There are platform tokens, governance tokens, and transactional tokens too - all of which serve an important purpose in the crypto world. You cannot expect to throw all your money into Bitcoin and immediately yield large profits. Crypto investing is shrouded in a fog of uncertainty that only few can lift. As someone who is just starting off solo, how are you gonna separate the wheat from the chaff?

How Communities Can Help You Yield Profits When Investing In Crypto

Going with the flow doesn’t seem all too bad when you’ve got a strong community supporting you. Let's go through some of the things that trading communities can actually help you with. Most obviously, a group’s combined knowledge and expertise can keep you safe. Safe from scams, safe from bad investments, safe from losing money. Even better, the insight and support you get will help you find those rare gems that do have potential to yield large profits. Where can you find such communities, you ask?

There are many platforms and forums that many small trading communities call home. They are providing helpful information on different coins, the ability for newbies to consult advanced traders about their portfolio, and even the possibility of group investments where people use their combined buying power to pump a coin to make a profit.

One example of a group that does it right is WhaleSpring*.* Just like many other platforms, it enables you to reap the benefits of community-based investing. But unlike those that operate according to a pump-and-dump concept, WhaleSpring’s focus is to localize the most promising crypto projects and support them long-term. Instead of pump-and-dump, WhaleSpring only does invest-and-hold. Traders just starting off don’t have to worry about reacting too late and losing their profits to the “dump”. This happens easily in other groups where many members use bots with automatic buying and selling algorithms. WhaleSpring got rid of those entirely by only announcing tokens as images (which bots can’t read). Their community is about real, honest, and long-term investment into projects that can stand the test of time (a value-for-value model).

Now, if you are reading this because you are about to jump into the world of investing, maybe you want to give trading groups like WhaleSpring a try. Of course, you can also go the solo route but, as the philosopher Howard Zinn once said:

“Small acts, when multiplied by millions of people, can transform the world.”

submitted by /u/Jims-Crypto
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* This article was originally published here

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