Ethereum by Anthony Heston
Author:Anthony Heston
Language: eng
Format: epub
Tags: Ethereum, ethereum investing, ethereum guide, ethereum smart contracts, ethereum books, ethereum beginners, ethereum mining
Publisher: Anthony Heston
Published: 2017-09-08T16:00:00+00:00
Chapter 6 - Familiarizing Yourself with Proven Investment Strategies for Ethereum
Investing in Ethereum has its own sets of risks and rewards. More and more people are enticed to try Ethereum because it has shown a surge in median price over the previous years and shows great potential for the future. Most of these investors are venture capitalists who are interested to make profits out of financial technology commodities such as Ether.
Is Ethereum a Lucrative Investment?
Fintech experts believe that cryptocurrencies like Bitcoin and Ether are on its way for their peak, and those who ride on the trend early on can gain substantial rewards. This is in spite of the fact that it does not yet have the same convenience and value of fiat currency. But with the fast development of blockchain technologies and smart contracts, it is safe to say that this virtual currency will become more common in the future.
Establish Your Own Investment Plan
The best way to make sure that you make profit from your Ethereum investment is to have a plan. Accumulating wealth through your digital currency portfolio will provide you varied results when you invest in stocks or forex. Because the price of Ether may significantly fluctuate depending on the market demand, it is important that you establish a clear goal with practical and realistic values so you can decide if you want to invest or trade Ethereum instead. Hence, establishing a plan will help you a lot to make sure that your investment in Ethereum will be profitable and worthwhile.
Be Prepared for Price Fluctuations
It is common for Ether price to fluctuate several times a day. As an investor, you have to understand the common reasons behind the fluctuation. Take note that Ethereum is an independent platform on its own, and Ether is used as an alternative currency within the platform. This makes traditional regulation policy not applicable, and different nations have the prerogative to support or not support Ethereum. Ether is also vulnerable to bad news and rumors, because the price is closely related to the demand, and any form of bad publicity could have an effect of Ether’s total value in the market.
You Can Mine Your Own Ether
It is possible to generate your own Ether if you choose to start your mining efforts. The first thing you have to consider is the cost of electricity and the initial equipment you need to purchase. Since there is also a range of equipment that you can use to mine Ether, it is possible to earn substantial income with this option. Moreover, there are now groups that are beginning to combine their efforts in order to mine digital currencies such as Bitcoins and Ether, and although many of them are not formal companies, they are becoming large players in the mining efforts. If you are interested in Ether mining, the ideal strategy is to set up your base in an area where maintenance expenses will be minimal such as countries with sustainable and renewable energy.
Strategies in Ethereum Investing
If you are not yet ready to invest in Ether, you can start observing the market as a P2P exchanger.
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