Should You Trade Or Invest In Bitcoin?

This is a subject quite close to my heart because as well as owning Bitcoin and other Cryptocurrencies, I like to trade them using a traditional broker such as JAFX.

Trading and investing may sound the same, but in reality, they are as different as day and night. Trading refers to a short-term method of trying to profit from buying and selling of bitcoins while investing refers to a long-term strategy where a buyer will hold on to their coins for a long time and ride out any dips in the market price.

The Trader

The Bitcoin trader thrives on the exciting volatility of crypto. They’ll try to time the market and buy coins when the price dips and then they’ll wait for the price to go up before they sell them. Trading is a high-risk game because you’re betting for the price to go up or down. Not everyone can trade, however. The most successful traders are those who have nerves of steel and can detach their emotions from their trades.

Traders don’t get scared of dips in the price because they are optimistic it’s going to go up again, sooner or later. They are looking to maximize their profits, too, so they’ll mostly invest a lump sum and buy at the lowest price they can possibly go for, and then they’ll wait until the price is high enough for them to make significant profit.

Trading takes a lot of guts. It takes a lot of thought and analysis. If you’re an emotional type of person who gets physically sick with every dip in bitcoin price, then you’re better off investing, and not trading, in bitcoins.

The Bitcoin Investor

Bitcoin investors are different from traders. They’re in it for the long haul. They’re not looking to take advantage of short-term fluctuations in the exchange rate. If the price goes down by hundreds or thousands of dollars, they’re probably going to get worried, but they’re not going to pull out their investment because they’ve already decided they’re going to hold it for the next 10, 20 or 30 years.

A wise investor will practice the dollar cost averaging method to manage risk. This means whether the price goes up or down, they’re going to buy bitcoins and hold them. This strategy is perfect for long-term investments as you’re essentially spreading the risk. Though profits may not be as significant as short-term trading, the bitcoin investor probably sleeps easier at night as they’re not worried how the charts are going to look like tomorrow or the day after.

4 Strategies for Bitcoin and Cryptocurrency Investors

Investing in highly volatile Bitcoin and other cryptocurrencies is risky business. These currencies are all electronic or virtual in nature, and thus have no physical presence. They don’t even have intrinsic value. However, no one can deny that right now these cryptocurrencies are extremely valuable and those who invested in the early days, and held on to their investments, are living the high life now as multi-millionaires, and even billionaires!

If you want to be like these wise investors sometime in the future, then follow these 4 investing strategies to increase your chances for success.

1 – Prepare For Volatility

It’s a given with cryptocurrencies that they are going to be extremely volatile. One minute the price is sitting at 5 digits, and the next it’s at 4 or even 3 digits! It’s absolutely unpredictable, and if you don’t take its volatility seriously, you could get in a lot of trouble. You could panic and sell off your crypto so you can minimize your loss.

However, if you’ve braced yourself for scenarios like this, then you’d probably just shut down your computer, or turn off your TV, and lie down and sleep off your doubts. Tomorrow is a different day, the price could go back up, and all will be fine with the world. Being prepared for volatility is tough, but it’s definitely doable.

Only trade with money you are quite happy to lose – it definitely can happen!

2 – Proceed With Caution

Do your research before you start investing in bitcoins and other cryptocurrencies. When you’re dealing with hard-earned money, you don’t want to lose everything in one day.  You’re investing to make a profit sometime in the future. Don’t go all in without studying what you’re putting your money into.

3 – Diversify Your Portfolio

Don’t put all your eggs in one basket, so to speak. Don’t just invest in Bitcoin. If possible, invest in other cryptocurrencies as well as traditional assets like stocks, bonds, and mutual funds. At least if bitcoin prices drop, then you’re not going to be totally in the red. Your other investments will help keep you afloat.

4 – Store Your Virtual Coins in Cold Wallets

Investing is a long-term game, and it is not advisable to keep your cryptocurrencies in online wallets such as your exchange’s wallet, or even your mobile app wallet. Keep your private keys in cold wallets such as paper or hardware wallets since these aren’t connected to the Internet. You can keep small amounts in your online wallets, but the bulk of your investments should be offline.

iMarketsLiveIf you’ve never invested in trading before you need a good team around you to trade successfully.  There are plenty of groups on Facebook and online forums, but it really helps to be in a successful team who know their stuff.  If you want to join a really great team who are smashing it with Forex and Crypto send me an email and I’ll get you onboard today!

Cryptocurrency Scams – Red Flags!

Unfortunately, cryptocurrency scams seem to be catching out a lot of people who are new to the crypto world. Con artists prey on those of us who don’t know the difference between a real crypto platform and a fake one, or who don’t know a Ponzi scheme from a legitimate affiliate program. These scammers fool people into thinking that their well-designed websites give them a strong impression of legitimacy, but on closer inspection, these sites won’t pass muster. Here are some giant red flags you should be aware of:

1 – Website Has No SSL Certificate

It’s extremely important for a website that deals with cryptocurrencies to have an SSL (Secure Sockets Layer) certificate installed. Websites with no SSL only display HTTP before their domain names, but more secure websites with SSL show HTTPS. Many scam websites are here today, gone tomorrow types of sites, which means once they’ve scammed a certain number of people, they’ll shut down that site and move on to a fresh domain. It’s quite easy to transfer website files from one domain to another; this is why these scammers can set up shop very quickly.

2 – The Offer Is Too Good To Be True 

Whether you’re trying to get the best rates for your dollars or bitcoins, it’s only natural that you’d want the best possible deal. Since cryptocurrencies are decentralized, most crypto exchanges have their own exchange rates. However, these rates don’t vary by much. If you see a website offering rates that are significantly lower or higher than other established exchanges, then it’s a giant red flag. It’s better to do business with a trusted platform with higher fees than to try to get the best deal out of an unknown website that could possibly swindle you out of your entire fortune.

3 – Beware Of Ponzi Scams

Some Ponzi scams are not as obvious especially if they’ve been around for a few weeks or months. This is because their first members would already have received their profits (derived from payments by new recruits) and would be posting glowing reviews on the Internet. At first glance, you might be fooled into thinking it’s a legitimate crypto operation especially if you personally know someone who’s made money from the scheme. Check out those positive reviews, and you’ll see they’re basically saying the same thing. We’d even like to bet they would have their affiliate or referral links somewhere on the review.

4 – Website Has Been Set Up Recently

One more red flag to be aware of is the date the website was originally set up.  Scam websites have usually been set up in the last few weeks or months so look out for recent dates.

You can find the Registration Date of any website by using the whois directory.  Simply go to www.whois.com and type in the domain you are querying then hit Search.

You will see the domain listed as ‘unavailable’ so just hit the Whois button to find out when the domain name was first registered.  In the example below you can see this was 2016-11-13.

Keep a close eye out for any of these red flags when you see an offer which is ‘too good to be true’.  Because, usually it will be.  Don’t let them win!

Find out more about Bitcoin and Crypto in general over at my new section.

1000s of Royalty Free Images for Nothing? Really?

I stumbled across Pixabay about 6 months ago and signed up for a free account when I was searching for a few images for my website.  The site is so easy to use and gives you access to thousands of amazing photographs and images in loads of different categories.

All you have to do is upload some of your own photos that you’re willing to share with others so that you can have access to the huge selection available from other Pixabay users.

I’ve recorded a short video to give you an over-the-shoulder view of the website (www.pixabay.com) and hope you find it really useful.

Please feel free to leave a comment if you found this helpful.

 

 

Top 10 Tips To Build Your Facebook Fan Page Audience

If you are struggling to build a following on Facebook, you can double your presence by using a Fan Page and connect with more people who matter to you. It’s free and easy to set up.

Just click on the small arrow to the left of the help icon on the toolbar at the top of your Facebook page, then choose a Page type to get started.

There are 6 different page types including Local Business, Company or Organisation, Brand or Product, and others.  Select the one most appropriate to the subject you will be promoting.  After selecting the page type you will be asked to provide additional information such as Category, Company Name, etc.

So, you’ve set up your page – good work!

The following 10 tips should help build a tribe of followers who will hopefully buy from you as you feed them compelling content and irresistible offers.

1. Create a Sign Up button on your fan page for opt-in to your list.  You can then send follow up emails to give them more information and sell them other products.

2. Post a handful of posts on your page before making the page public so that nobody arrives for the first time thinking they’re all alone.
3. Create at least one piece of content which is shareable to spread your presence across Facebook

4. Invite all of your FB profile friends to like your page to increase the size of your page community

5. Post consistently to your page once it is live to help build engagement over time

6. Aim for at least 4 posts daily because it is likely your fans will be lucky to see 1 of them each day

7. If you have multiple fan pages in the same niche you should collaborate between them, ie, every 6 – 9 posts, share a piece of content from one of your other pages

8. Turn your fans into customers – use your Sign Up button to attract leads

9. Post images that are eye catching, crisp and evoke emotion

10. Post content which your audience can relate to in order to extend your reach to as many people as possible

I hope these tips help you in building a large fan base on your page.  Another way to promote yourself and your products on Facebook is by using Facebook Ads.  However, this must be done the right way in order to avoid throwing thousands of dollars down the pan.  The best person to go to in my opinion is Michael Cheney who has recorded an easy to follow video series all about advertising on Facebook.  It’s called the Fan Page Money Method, and you can find more about it HERE.

 

Laser Focus Your FB Ads To The Right Audience

How do you find exactly the right people to market your products to?  Where are they hiding and what do you need to do to have the best chance of selling to them once you’ve found them?

Facebook is the place!

The Facebook Ads Manager is so powerful that it can help you to understand how much your targets earn, how much their house is worth, their interests and even what job they do.  Imagine being able to advertise directly to visitors who have been to your website but didn’t buy your product?  Wouldn’t it be great to reach them on Facebook even though they didn’t opt-in at your landing page, or maybe they added a product to the shopping cart but didn’t go ahead and buy? Even those who signed up, received the free offer but didn’t continue through your funnel?

This is all possible using Facebook ads.  But, the big question is how easy is this?  Advertising on Facebook can be a minefield and you could end up spending 10 times your original budget with no sales or affiliate commissions to show for it.  You need to understand how to do this properly because you’re not doing this to line the pockets of the Facebook execs … you want to fill your own bank account!

Fortunately, I think I’ve found the right man for the job.  This bloke knows how.  This legend of Internet Marketing knows the right buttons to push AND when to push them.  I’ve learnt so much from just 30 minutes of his training.  You can learn this too and much more including …

  • How To Unleash A “Money-Cloning Machine” That Duplicates Your Facebook Profits Without Duplicating Your Effort!
  • The Secret Free Software The Pros Use To Crush It With Facebook
  • The Fool-Proof Formula For Creating Fast-Cash Facebook Funnels
  • The Secret To Getting 40% Opt-in Rates And HIGHER Directly On Facebook
  • The Closely-Guarded Secret The “Facebook Mafia” Use To Get Hundreds Of Leads A Day From Facebook

Find out more HERE