Bitcoin and the entire cryptocurrency market are back in the green with the big news coming from the feds later today. Is this a Bitcoin and cryptocurrency bull trap and things about to get worse or could this be yet another incredible opportunity to get into cryptocurrency?
To answer these questions, Joe Parys, a famous entrepreneur in the crypto space, has shared his strategies to invest, giving you a full guide to a high-risk portfolio and a low-risk portfolio with only $5,000.
High-risk portfolio
The first portfolio is a high-risk high-reward portfolio. The first thing to do before getting started is research. The best way to do this is by going to websites like Seedify.fund, BSCPad and PolkaStarter.
You can check the fundraising goal and description of the project. Moreover, you can get to know some tokenomics, their website. You can see the problem that the project is solving more about the world in general, the roadmap, the team behind the project, different supporters, and much more information.
You should check different partnerships that this project has because, in the long run, it’s very important to have marketing and partnerships with cryptocurrency. Then, check their social media like Twitter and see the different engagement and also see who’s actually participating with this project.
After doing all of that research, you should gather and look at the best return on investment and then choose an incubator or launchpad that had massive potential, not only in the short term in the long term. Then, you should read up on all the rules on how to participate and get into the highest tier.
If you were being more aggressive, you should lean maybe towards holding the silver tier giving you a better chance to get into these pre-sales. However, if we only had five thousand dollars to work, we should get in the bronze tier. This is where you can really build some wealth for yourself and a lot of other incubators and launch pads is if you just hold the tokens, you get access to all of the different sales.
Low-risk portfolio
You’re just picking really the top cryptocurrency coins because traditionally those have been the coins that have stood the test of time.
Just remember that the whole goal of cryptocurrency is to buy low and sell high and never risk more than you can afford to lose.
Many people who are trying to get rich quickly made a lot of mistakes. There are a lot of scammers and hackers in cryptocurrency because they know that if you make that mistake you’re not going to get your money back from that.
So the real key to getting wealthy with cryptocurrency is doing your research, studying, and joining a like-minded community.
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