Recently a friend of mine had an extra $100 & wanted to invest. Knowing that I spent most of my time online they asked me “What can I invest $100 into on the internet?” – It was a simple answer for me, crypto-currency. What happens next is completely unexpected…
Market research – What should the investment be?
One of the many problems with crypto-currencies is the countless amounts of digital currencies available at the click of a button. Or perhaps that’s the beauty of the entire system, the versatility of trade & opportunity for potential profits. We explored several options & watched the graphs for several weeks before they were comfortable enough to make their first investment.
Check the current price of the Crypto Currencies at : CoinMarketCap.com
Today is the day, they’re finally gonna take the plunge & make the tangible investment into the crypto-currency world. With the direction the IoT (internet of things) is headed, combined with the global economy. This seems to be the most logical decision for anyone looking for investment opportunities.
For the sake of simplicity we went with Ripple, I mean more bang for the buck, right?
Making a First-time $100 Investment in Crypto Currency –
What used to be a semi-complex process has been simplified ten fold since I first caught wind of this industry. Digital investment opportunities are made possible by brokers such as Changelly –
The exchange was simple enough, funds were transferred to a wallet that my friend had set up with Kraken – CoinBase would of been an easier to use interface, yet they aren’t yet trading with Ripple. Looking for assistance on getting your wallet set up & understanding the integration? You can find more information on setting up your exchange with Kraken in their FAQ –
Alright, that’s the dive, we’re swimming with the fishes now. What about the whales though, accounts that can manipulate the market in a matter of seconds? That’s the beauty & risk of the investment, you never can accurately predict the volatility of the market.
Cheers, here’s to wishing for a prosperous future for my friend, readers & myself ~
*I’ll follow up on this clients activity & curate a journal for prospective investors, no expectations of anything.
Update 8/12/17 – It’s been 24 hours since we made this investment, if we were looking at this from a short-term perspective we’d have just lost 1.04% – This is a long-term equity investment for my friend & with the direction cryptocurrencies are headed we can expect the price to rise.