How to multiply the money and not get cheated on the cryptocurrency exchange

Cryptocurrencies generate a lot of interest among investors and other people who have never invested before, but because of the media hype they saw in Bitcoin or Ethereum a chance to multiply their assets. It was this noise that made the crooks interested in cryptocurrencies. Here are a few ways to multiply your money safely and not be deceived by cryptocurrency crooks.

1. “Investment assistants” are usually not trustworthy. In the case of traditional investments such as stock exchange or Forex, it is quite common and usually safe practice to entrust capital to an expert who will trade it for a fee, generating profits. In the case of a cryptocurrencies, due to the large number of people who know little about investing and yet would like to trade in Bitcoin, entrusting money to buy or manage an account is usually not a good idea.
2. Scam currencies always mean fraud. A scam currency is one that appears on virtually no cryptocurrency market, it cannot be mined, fluctuations in its value are usually classified or based on individual data provided by the seller. Scam currencies are sold as tokens by fraudsters, do not meet the criteria of a cryptocurrency or do not exist as source code at all. After collecting the appropriate amount, the scammer disappears and leaves customers with worthless proof of chip purchases.
3. Get interested in altcoins. Cryptocurrencies generate huge speculative bubbles and it was the breaking out on such a bubble that created most of the so-called Bitcoin millionaires. However, according to experts, it is too late to invest in Bitcoin. Those who are looking for a real income should therefore turn to altcoins – cheap but still gaining in value, less popular cryptocurrencies.
4. Prepare yourself mentally for the big fluctuations of a purchased cryptocurrencies. It may seem trivial, but it was the stress of constant falls and ups and downs of the cryptocurrencies that made many investors miss the chance to multiply their capital. In traditional investments, a very rapid fall below a certain level is rare and is often a symptom of a very serious crisis on a large scale. Huge fluctuations in the cryptocurrencies happen all the time, which is both their investment advantage and a cause of great stress for those who put a significant part of their capital into the cryptocurrencies.
5. Consider all advantages and disadvantages of mining cryptocurrencies. Mining is the process of creating a new unit of cryptocurrency. You can mine using your own computer, which will solve the appropriate cryptographic codes in the background, or with the help of specific excavators, devices dedicated just to mining cryptocurrency. At this point in time, mining may seem unprofitable – the capital spent on equipment and electricity exceeds the possible profits – but combined with the knowledge of altcoins, it is possible to mine some cryptographic currencies at little cost.

Is it worth investing in cryptocurrencies at all? There is no good, clear answer to this question. It certainly paid off in the past, but at that moment, the boom on the cryptocurrencies has faded away, and even voices warning against this form of investment are becoming louder and louder. However, this does not mean that the experts agree that from now on you can only lose on cryptocurrencies. There is a lot to gain, it is simply more difficult than a year ago.