Cryptocurrency is the big boom in 2019, a market that offers huge profit making opportunities. But it’s also extremely risky so before you dig in it’s better to be informed. Here are a few tips if you want to buy cryptocurrency online in 2019. To begin investing in Bitcoin and other cryptocurrencies you first need to with an exchange which will offer you to buy cryptocurrency with money. An exchange is basically an online platform that offers everyone to buy and sell Bitcoin as well as any other cryptocurrency that they have traded.
Exchanges accept a variety of payment options based on what they are willing to use. This is sort of a sore point for many exchanges, since some payment methods have been used to scam sellers for a quick buck in the past. Coinbase allows both bank account and credit or debit card transfers for payments and one payment solution must be linked to your account before you can make the trade. Paypal is not supported by Coinbase and with good reason.
Now, I know this may sound obvious but it’s important for you to have a clear purpose for getting into cryptocurrency trade. Whether your purpose is to day trade or to scalp, you need to have a purpose for starting to trade cryptos. Trading digital currencies is a zero-sum game; you need to realize that for every win, there is a corresponding loss:. Someone wins; someone else loses. The cryptocurrency market is controlled by the large ‘whales’, pretty much like the ones that place thousands of Bitcoins in the market order books. And can you guess what these whales do best? They have patience; they wait for innocent traders like you and me to make a single mistake that lands our money to their hands due to avoidable mistakes.
Don’t chase cheap coins with dreams of lambos and private jets. Lots of uneducated investors in the crypto space buy low priced cryptocurrencies because they think there is a higher chance of big returns. If presented with one coin priced at $0.01 and another at $75, they blindly purchase the $0.01 coin because they think it’s easier for a coin to go from $0.01 to $0.02, rather than from $75 to $150. This is a common trap. There are lots of factors that affect a coin’s price, including two important ones: the circulating supply and the real world value of the coin.
Learn the Difference Between a Bear Market and Bull Market. General wisdom says “Buy support in a bull, sell resistance in a bear.” Regardless of what type of investor or trader you are… you should learn to spot the difference between a bear and bull market and shift your tactics appropriately. From 2015 – 2017, during a long bull run, you could essentially buy every Bitcoin dip and come out ahead. In 2014 and 2017 buying dips was mostly rewarded with heavy losses. In 2014 and 2018, two bearish years, shorts could short every resistance and profit. In 2015 – 2017, it was rarely safe to short Bitcoin. Knowing the difference between a bull and a bear can be a big deal in any asset, but with the brutal market cycles of crypto, it is especially important to learn the difference.
Because of the number of cryptocurrencies that exist, some cryptocurrencies work a bit differently, but most of them share these basic characteristics: Actions are irreversible: After you send a cryptocurrency and the network has confirmed it, you cannot recover it. The cryptocurrencies are one-way, without chargebacks. See more details at How To Buy Cryptocurrencies Safely.
How to pick converting products to dropship on Amazon? Here are a few advices and a recommendation to let a pro to the market research. Social media is important to a dropshipping business but it is not the only channel you should be active on. Spend time researching video marketing, and be part of events where attendees are your target audience. Maybe you can identify a segment of an influencer’s audience who would benefit from a product so a partnership can be created. Be innovative about how to get in front of your audience both online and offline to get ahead of the curve. Consumers browse hundreds of website every month and get accustomed to reading the same information over and over again. If they are researching a new product to sell this can be frustrating as they may feel they are not learning enough about the product. Create custom content that contains information that is new and valuable to your consumer and you will separate yourself from the noise. This could mean updating product descriptions, writing an interesting about us page, or creating images that are high-quality, functional photos that inform customers.
You probably won’t be available every hour listed on your website, so make sure you return every missed call and voicemail ASAP. If you don’t return your calls, they are going to find someone else to buy from. If you’re at work, you can step outside. If you’re at school, call back during your breaks. Again, most these people are calling you to give you money, so it’s worth your time to call them back.
One of the dropshipping tips that I’ve learned along the way pertains to niche selection. This is the first step when starting out, and is probably the most important and can either set you up for success or doom you to failure. I’ve found (after much trial and error) that passionate/hobby niches do far better than other niches. For example…let’s consider Yoga vs. dining room tables. People are far more likely to be more passionate about Yoga and products related to Yoga than dining room tables. This passion ultimately leads to more sales opportunities and repeat customers.
How to find the best products ? A few words about dropshipping market research. Targeting a specific niche with your dropshipping store can be a great way to help your dropshipping store grow and generate revenue. Take a look on Google Trends and do some research into the niches which have high potential – these could be good niches for your dropshipping products. You’ll have less competition if you’re running a niche dropshipping store, as you’ll be targeting a smaller audience. This means that your marketing efforts will be much cheaper, especially if you’re thinking of using Facebook advertising, or Google Adwords. It’ll also be easier to rank your store on search engines when you run a niche dropshipping store, which is good for your business’ long-term growth. Or you can let an expert to do the product market research for you while you focus on marketing or improving your website. Read more details on Drop ship on Amazon.