What About Investing In Ethereum?
We have previously discussed buying cryptocurrencies, trying to help you reach the answer to questions like “Should I buy Ethereum now?”, Should I buy Bitcoin or Ethereum?”, and “Should I buy Litecoin or Ethereum?”.
We did not talk about what you should do with it once you have it.
By a vast majority, most cryptocurrency sales happen for investment reasons. There is a good chance that you have heard stories about people who jumped on the Bitcoin hype train early and became millionaires at 19.
Before you decide to try it for yourself and while you’re still asking, “Should I invest in Ethereum or some other cryptocurrency?” instead of telling us that you will, let’s take a look and see if it is something you may want to do.
What Is Short-term Investing?
Short-term investing, or flipping, is the act of buying something and hoping to sell it soon, for a profit.
It’s an exciting activity. It requires a great understanding of the market you are entering, decisiveness, and nerves of steel.
The cryptocurrency market is very volatile. It means that prices change quickly, often by significant amounts. A great short-term investor can make a lot of money quickly. Or lose a lot of money quickly.
Let’s return to the central question of this section, “Should I invest in Ethereum?”. For clarity, let’s limit the scope of the investment to the short-term.
Is Ethereum a worthwhile short-term investment? Yes, it is, if you can get the timing right.
What Is Long-term Investing?
As the name implies, long-term investing is like its short-term cousin. The difference is that it’s all about long-term profit.
Long-term investing requires careful research because the scale of your investment is usually much bigger. This kind of investment also requires even more nerve. It’s much harder to watch your chosen cryptocurrencies’ prices fall, holding on to them, for weeks, months or even years.
You have more to lose and more to gain investing long-term as well.
At the moment, the hot Ethereum debate revolves around this coin’s long-term prospects. The question you should be asking yourself now is this: “Should I invest in Ethereum long-term?”. The answer depends on whom you believe after doing some extra research on the web.
Should I Buy Ethereum? All You Need to Make An Informed Decision
Some people say that Ether’s price may reach $0 for the first time, while some claim that it will recover. Some analysts even predict that Ethereum price could rise to $1,000 by the end of the year as developers improve the platform and solve some of its scaling issues.
If you believe in Ethereum’s future, investing long-term into this coin now maybe something you would like to do. If you do not believe, do not invest. Simple, right?
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Supports more than 1500 coins and tokens
So, Should I Buy Ethereum?
One of the most successful investors in the world, Warren Buffet, summed up his investment strategy like this:
“It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”
Mr. Buffet also favors long-term investment opportunities, saying:
“Only buy something that you’d be perfectly happy to hold if the market shut down for ten years.”
With that said, Warren Buffet doesn't believe in cryptocurrencies himself.
So, when you ask me, “Should I invest in Ethereum?”, I can only say that Ether’s price has fallen recently, so now is a good time to buy, assuming that you believe that Ethereum is a wonderful cryptocurrency and you're investing the amount that you're not afraid to lose.
Talking about losing cryptocurrencies, you wouldn't want this to happen just because you chose an insecure wallet. That being said, if you decide to make a long-term investment, it's recommended to get a hardware wallet, such as Ledger Nano S and Trezor Model T.
Also, you should be aware of the easiest way to purchase Ethereum - Simplex. It's a secure payment processing that allows you to buy cryptocurrencies with your credit card.
Encrypting your wallet or your smartphone allows you to set a password for anyone trying to withdraw any funds. This helps protect against thieves, though it cannot protect against keylogging hardware or software.Send money to friends and familyAn illustration of a doge using an Ethereum application on a computerAn illustration of a doge using an Ethereum application on a computerpoker bitcoin Litecoin was one of the first cryptocurrencies after Bitcoin and tagged as the silver to the digital gold bitcoin. Faster than bitcoin, with a larger amount of token and a new mining algorithm, Litecoin was a real innovation, perfectly tailored to be the smaller brother of bitcoin. 'It facilitated the emerge of several other cryptocurrencies which used its codebase but made it, even more, lighter'. Examples are Dogecoin or Feathercoin.bitcoin master bitcoin maps