Tips to invest in Bitcoin safely
With the popularity that cryptocurrencies have gained in recent years, it is not surprising that we receive hundreds of messages daily inviting us to enter the world of Bitcoin or another altcoin. These messages or advertisements constantly urge us to immediately invest our money in these cryptocurrencies. Promising us big profits in a short time.
But will it be safe to do so? What must we know to invest in Bitcoin without greater risk of losing our money? Well, let's see some useful tips to know how to invest your bitcoins safely.
Do not act impulsively
Investing our money in an asset is a decision that we should not take lightly. It does not matter if they are a few euros or thousands of them. Our money, the product of effort and work, is valuable, no matter the amount. So we cannot get carried away by those miraculous pages that promise us endless wonders without effort. These, in most cases, end in scam and our money disappears.
On the contrary, if we want to invest in Bitcoin, we must document ourselves well. Research the pages or certified exchanges that allow you to acquire cryptocurrencies safely and reliably. Also, design an investment strategy and never get carried away by feelings. It is worth saying that this advice is essential to know how to invest in bitcoin safely.
Use a secure wallet
There are not a few cases that we have heard of hacks and thefts from platforms or wallets where users have lost fortunes. For this reason, you must make sure to operate with a reliable wallet that allows you to make purchases and sales of bitcoins with total security.
Make backup copies and keep them in a safe place. Also, if you opted for a long-term investment, use offline wallet. This will provide you with greater security and will be protected against computer attacks.
If you use Bit2Me Wallet, apply the second security factor from the Security section in your profile settings.
Diversify your investment portfolio
Although the most famous cryptocurrency is Bitcoin, we cannot simply bet everything on it. Its high volatility and large movements can return in juicy gains. But they can also become huge losses.
Therefore, having a diversified investment portfolio is essential when it comes to investing safely.
Remember Bit2Me Wallet allows you to create a varied investment portfolio in cryptocurrencies.
Be aware and realistic
There is no saying for nothing that you invest only what you can lose. Never use money from family savings that can get you out of a tight spot. Or money you need to live and pay your expenses. Also, don't aspire to become a millionaire overnight.
Be realistic, the key to success in this world is investing amounts that you can lose and setting goals for the medium and long term.
Do not believe in miraculous courses
Although if we want to enter the world of investments and operations with Bitcoin, we must educate ourselves and study. No need to pay large sums of money for courses that promise in a few hours to reveal the most infallible tricks to carry out successful operations.
The popularity of cryptocurrencies has led many ill-intentioned people to “design” miracle curricula claiming to make you rich overnight. Do not be scammed. Better prepare and study with educational content that you have available for free on the web.
Never apply for loans to make investments
I think this is one of the recommendations that stands out the most when considering any investment. And in the case of cryptocurrencies, you have to keep this rule in mind more than ever. Due to the high volatility suffered by Bitcoin and other altcoins, you can lose your entire investment. So never go into debt to make investments.
Beware of derivatives
Platforms like eToro and the like do not sell Bitcoins. If you cannot make a withdrawal of the bitcoins from the platform, it is most likely that they are derivatives. This means that you are totally tied to the platform, and there are many derivatives platforms that are scams. The bitcoins must be able to get them to the wallet that you prefer, if you cannot do that, do not use that platform.
Beware of scams
Many people are going to want to take your money from you. Be careful to whom you give your cryptocurrencies, the best thing is to always have them under your control, or that if you temporarily leave your cryptocurrencies in the hands of any platform it is assuming that if you have not investigated in depth you could lose that money / cryptocurrencies that you give them.