Everyone is talking about crypto currencies and with BITCOIN, doing a mega jump in terms of price, both laymen and financial experts are looking to make big money in crypto trading. So is this the right time to pick a few crypto currencies, what is the right strategy.
While GLITZKOIN will not encourage you to speculate on crypto currencies, the fact remains that a significant proportion of buyers spend with the aim of speculation. At the very basic level, you need to be as diligent as you would be when, buying conventional stocks or shares.
Don’t spend too much and do not buy with the dream of becoming an instant millionaire. The crypto world is new and you should take your time to fully understand it. If you make a purchase at a high price even a small fall in price, can result in a painful loss. If you wish to be very conservative, spend only as much as you can lose. You don’t want to put a big strain on your finances.
The GLITZKOIN team did an in depth analysis and found that, most crypto currency projects are initiated solely with the objective of issuing the currency. Such projects do not have depth and would generally run into rough weather. If you do want to spend on such projects, keep the spending low.
The GLITZKOIN project has a two pronged approach to reap the benefits of the crypto world. A strong background in the diamond industry, was the reason why a decision was taken to implement a secure, transparent and global platform for diamond trading.
We also noticed the financial complications of global trade. Foreign currencies, conversions and expensive bank services were all very prominent. This prompted us to include a crypto currency into the project. This currency could be used to pay for products purchased on this platform.
Diamonds purchased on the GLITZKOIN diamond platform can be paid for using the crypto currency. This avoids the hassles of high currency conversion fees, bank charges etc. So as you can see, our project is not just about a crypto currency but also includes a positive effort to improve markets for the diamond industry across the globe.
This report would not be complete without talking about ICOs, Initial Currency Offerings. At the very start almost every crypto currency conducts an ICO. This is generally the time when, prices are fixed at moderate levels. It also a good time to buy some crypto coins / tokens during an ICO. Once again, you do not want to overdo the buying, play safe and risk only what you can.
And going by the age old recommendation that says ‘… not to put all your eggs in one basket ‘, you might want to spread your crypto currency buys. Spend on different currencies and adding a few from running ICOs, might provide the right mix of cryptos.