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How to invest in cryptocurrencies

2 min read

 

A professional crypto-investor advised how to invest in cryptocurrencies, based on his experience.

How to invest in cryptocurrencies

Ray Tong, one of the most experienced traders, explained strategy, which he uses to invest in cryptocurrencies. Tong bought his first BTC in 2011, when the price was almost $ 10, it was almost a coincidence that he was doing a university study on the subject.

His approach to cryptocurrencies was very clever and careful, and BTC has never sold since 2014:

“I was just buying and not selling.”

According to him, it is important to have an accurate and clear strategy without catching the urge to make money quickly. In trading, the most important thing is to set precise goals and track them.

He is also very methodical in terms of the amount of money to be invested, and prefers to think about the percentages of his portfolio that are to be allocated to different investments.

“Once you’ve come up with this number, you can split it even further into three parts – the percentage you want in BTC, the percentage you want in Ethereum, and the percentage you want in all other coins.”

As for the information, he says he relies mostly on Twitter and many influencers. In particular, he recommends following the founders of Three Arrows Capital, Su Zhu and Kyle Davies, the Spartan Group and the Paradigm team very closely.

Ray strongly advises all investors to think in cryptocurrencies and not in dollars or other fiat currencies:

“Try to find the currency you trust the most and make it your base currency. So don’t worry so much about the value of your dollar holdings, worry about trading, which ultimately leads to you getting more coins. Many large companies are starting to do this. “

Large cryptoinfluencers

Many investors in cryptocurrencies are increasingly looking for major influencers who analyze the scenarios of major cryptocurrencies on social media, especially Twitter, and advise on which currencies are best to bet on.

Elon Musk’s tweets are famous and his recommendations have made Dogecoin, one of the ten main cryptocurrencies.

The advice of Binance CEO Changpeng Zhaa is also very popular, as is the advice of Tron blockchain creator Justin Sun. Not to mention Anthony Pompliano.

Almost always the correct predictions of the mysterious PlanB, which recently predicted that BTC would soon reach the $ 250,000 mark, have become viral.

Another legendary influencer is Roger Ver, who calls himself “BTC Jesus” with 735,000 followers. He is the CEO of Bitcoin.com and is also involved in many digital philanthropic activities.

How to Trade on Binance (2021)

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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