Ethereum is a blockchain-based platform that facilitates smart contracts and Distributed Applications (DApps). It was first proposed in 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. The Ethereum project was bootstrapped via an ether crowdsale in August 2014 by fans worldwide. As of today, it is the second-largest cryptocurrency behind Bitcoin.
Why Invest in Ethereum?
There are a lot of reasons why you should consider investing in Ethereum. It is the second-largest cryptocurrency behind Bitcoin, it probably has better long-term prospects than most other cryptocurrencies and has strong developer support. With time, more and more people will use Ethereum as a means of payment, just like they do with Bitcoin. Ethereum allows for the creation of DApps through smart contracts on its blockchain. Ethereum has recently experienced considerable growth (in terms of market cap) as more and more people have begun trading it.
Here is a basic ethereum trading strategy for beginners.
Check the Daily Charts:
It’s important to find a reputable exchange that allows you to buy and sell your crypto. Keep a check on the daily chart that can help you to buy Ethereum when it is at low or sell yours when you are getting a higher price to make quick profits.
Check the Weekly Chart:
Just like the daily chart, you should keep a watch on the weekly chart too. Once you are done with monitoring the daily chart to buy Ethereum, this is where you can sell your Ethereum if you think it’s time to make a good amount of money from it.
Be Patient:
Don’t go for instant profits! Hold on to your ethereum and wait for the price to rise further so that maximum gains from your trade are achieved. This might take some time, but once your patience pays off, there is nothing that can stop you from making a huge return!
Check the General Market Conditions:
It’s important that you keep track of general market trends, whether the crypto market is going through a bull phase or bear phase. That way, no matter which way the price is headed, you can capitalize and make money in either direction.
Ethereum is a very promising cryptocurrency that has already made some early investors millionaires, and there are predictions that this currency will break records by year’s end. You don’t want to miss out on this opportunity!
So what are you waiting for? Just follow these four simple steps, and you’ll be well on your way to becoming an ethereum trading strategy master in no time! Practice makes perfect, so follow these steps religiously! Invest wisely and never lose more than 5% of your deposit if things go wrong.