Hello, Power Profit Traders!
When you stop and think about it, the best time to invest in a company destined for success is when it’s just getting started – on the ground floor.
It can be an uneasy feeling to get involved with a start-up company, so for those who want to wait for the company to create a more solid foundation, it’s okay.
Investing in Cryptocurrency is no different. Some people took a chance on this asset class at the onset and have made millions. Others have waited until there was a more solid foundation.
Well, the wait is over.
Cryptocurrency has been around for over a decade, and during its infancy it has experienced a reputation as a gangster money laundering vehicle with plenty of uncertainties.
That was then, and this is now.
Over the past 13 years the industry has seen increased government regulations, and we’ve got a better understanding of what Cryptocurrency trading is – which has opened more doorways for opportunities.
This is why I don’t mind telling you that you can trade crypto currencies the smart way – limiting risk and exposure while capitalizing on the many opportunities that are available.
The changes to this asset have been positive over the last decade.
Crypto trading is safter than it was 10 years ago
Years ago, you may have felt Crypto was a tool only to help illicit dealers avoid the federal government.
With Crypto trading becoming more mainstream and more widely utilized, it has naturally had more scrutiny, and with that scrutiny we’ve seen more regulations.
Government Regulations
Crypto trading can be risky just like other equity and option investments. It’s no different in my mind than other investments – the key to highly profitable trading strategies is risk management.
I’m the one that controls my personal investment risk, but the external risks associated with trading crypto have been reduced in recent years because of regulations that have been put into place by the Federal Reserve and the SEC.
For example, if a company wants to raise money through an initial coin offer (ICO), they must disclose essential information about the project, its potential risks and who is behind the project.
The Federal Reserve has also established a group to monitor cryptocurrencies and their risks – which is directed at protecting consumers and investors from scams and fraudulent activity.
Overall, I think government regulations have helped to make cryptocurrency trading safer for investors.
Crypto Wallets
The software programs that people use to store their cryptocurrencies are called “Wallets.”
There are some terms associated with crypto trading that will be new to you. It’s not a reason to shy away from crypto, however. In my weekly discussions I’m helping traders understand the jargon associated with crypto.
With each passing year the technology to protect crypto “wallets” has become better and stronger through two-factor authentication processes and cold storage – meaning cryptocurrency accounts are safer on physical devices, such as a USB drive. Overall, wallets have become more secure, making the crypto world safer.
Sophisticated Trading Platforms
Other changes in the crypto world include the trading platforms themselves. Crypto trading platforms are getting better at quickly and accurately allowing investors to buy and sell cryptocurrencies. It means crypto trading is even safer than it was even a few years ago.
Financial Institutions in the Crypto World
Blockchains are sophisticated ledgers used in the crypto world. Now, banks are using blockchain systems to speed up transactions and make them more secure. As banks have confidence to tap into this new technology along with other financial institutions, we’ll likely see even more oversight and regulations – which can bring more stability to the crypto world.
It has been over a decade since the inception of the first cryptocurrency, Bitcoin. Since then, the crypto world has become safer with sophisticated trading platforms, regulatory measures and an increase in financial institutional involvement.
These changes have led to reduced scammers and more informed investors. As technology is advancing, so is the confidence of the crypto trader.
I’m invested in cryptocurrencies.
Over the years I’ve seen the changes that have taken place, so you will never hear me say anything like “Put all your eggs in one basket,” or “Bet the farm!”
My first involvement in cryptocurrencies was mining crypto. I started mining cryptocurrencies several years ago, and I’ve been trading them as well. Since then, I’ve witnessed the growth of crypto world and I’m very confident in its future.
Now, I’m sure you want to get involved. Hopefully concerns about crypto trading’s past reputation have been resolved for you.
There are a lot of questions you probably have still and that’s where I can help.
Each week in my Money Morning Live main room sessions I teach traders what I’m doing to find success in this exciting part of the investing world.
You may have questions about crypto jargon, opening accounts or even about how to enter and exit trades.
These and other questions such as coin selection, or exactly when to enter or exit trades are addressed throughout my discussions.
You’ve probably heard about Bitcoin (BTC) and Ethereum (ETH). Along with these popular coins I’ve got several symbols that I’ll have a focus on in the coming week:
- AIOZ
- FET
- UNI
- ACH
- COVAL
- ORCA
- AST
In my weekly discussions I will specifically explain what I’m looking for in my crypto watch list in order to achieve the best success.
I guess the best place to start your journey into the crypto world is to simply join me in the discussions. Learning more about the workings of the crypto world is the next best step.
Click on this Money Morning Live link and save it to your favorites, then set your calendars and join me each Monday, Tuesday and Wednesday at 12:00 noon ET to participate in the discussions.
To success!
Tom Gentile
America’s #1 Pattern Trader
Learn About Trading with the Money Morning Live Professionals!
Did you miss the Live session? Watch Tom’s replays!
