What you need to know before investing in bitcoins
The world has lived through a terrible pandemic so far in 2020 because of a disease called covid-19. It has reached every corner of the planet and has resulted in the deaths of hundreds of people, so governments have been forced to take drastic measures to prevent further contagion and deaths.
Among these new strategies are the mandatory confinement of citizens, the closure of schools, businesses, jobs … etc. In short, the economic impact has been devastating in many ways. Transactions with cryptom currencies have not been an exception either.
In this very complicated and weak moment of the international economy, many people who handle bitcoins decide to make investments. Only a few recommendations need to be taken into account:
1.- Keep up with the news
Yes, although it sounds like it has nothing to do with advice before investing with bitcoins, it does matter and quite a lot. Everything about the coronavirus pandemic should be read and reported on, even what seems “banal”. For example, where are the most intense outbreaks of the disease, which public figures have been infected, what governments are doing in their countries, how the condition is behaving in one’s own nation and in neighboring countries.
All of these details have some impact on the world’s financial markets, to the point that they can become trend-setters, both positive and negative. So, keeping up with this kind of news is also important before taking any steps in investment.
2.- Be at peace and calm before initiating transactions
It is understood that it is a bit complicated to “stay calm” in a world where a virus can be deadly and advances fiercely everywhere (a real horror movie), but before starting any investment and making decisions, the most important thing is to be calm: cool head.
It’s a situation that generates a lot of uncertainty, worry, paranoia and stress. But something is real and that is that at some point this will pass and it will remain as a bitter experience that left lessons. It is only necessary to continue applying the usual sanitary measures (washing your hands, social distancing, wearing masks) in order to be healthy.
Leave panic and fear, worries and anguish aside when it is time to sit down and do the transactions with the cryptosystems. Dedicating yourself to other hobbies also results.
3.- Reviewing all the processes without trusting
During this rare and unusual scenario, it is possible that the financial markets behaved in an unexpected way, due to the impact that the lack of labor movement brings. Therefore, before making investments with bitcoin, it is important to review everything and not rely on the first thing you see.
A curious fact that shows the irregular behavior of the markets is that, for example, when markets are unstable, reserves are generally revalued and have two options: either they remain the same or they increase. But in this current scenario generated by the covid-19, gold and oil reserves have presented and resounding decrease.
Given this approach, it is advisable to continue processing information related to the economies and be up to date with the values. In this way, possibilities can be evaluated during investments and the most convenient choices can be made. The bitcoin market must know how to take advantage of these opportunities.
4. Not everything is about bitcoin
Certainly, the cryptomone business is very profitable, even in times of coronavirus, as long as the right decisions are made. But not everything involves this type of transaction, it is not obligatory to acquire bitcoins.
In the digital world there is a whole world of possibilities that covers many areas of goods and services in which you can make good investments, depending on the current situation of each person.
For example, there is something known as Bitcoins Future Contracts or Cryptosystems that are a good alternative to increase profits and minimize the risk of loss. Without a doubt, these are excellent ways to make investments with the best chance of seeing the fruits quickly.
5.- Take care to activate when everything passes
This is a basic recommendation, but one that is still important in these difficult times for everyone. The outbreak of covid-19 is real, it is not an invention of the rulers to keep the citizens locked up. It has managed to spread and infect people of all ages and has caused the death of many.
We must not lower our guard and we must try to comply with all the standards and measures that have been issued by governments and the World Health Organization (WHO). In many cases, everything seems to be back to normal, but this is not the case. There is still a long way to go towards the peace and freedom that existed until 2019.
Before leaving the house, it is necessary to use a mask or handkerchief that covers the mouth and nose. Respect the distance between people, be in the street when strictly necessary, comply with isolation if necessary.
Always be there
The crypto business is going nowhere. All the procedures can be done digitally, so it is not necessary to leave home to continue with this type of activity, as well as with the investments.
If you have any doubts about the subject, it is important to seek the advice of experts in this type of method. There are many web portals that have open forums where those dedicated to these transactions can make their queries, doubts and share their experiences.
For now, it only remains to take care of yourself as much as possible until everything passes at some point. The new normality waits and it is estimated that it will be the end of the year when we start to see a little light at the end of the tunnel, with the announcement of the launch of a vaccine to prevent this type of coronavirus.