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welcome back to the world of cryptos and
welcome back to the crypto corner
today we're going to answer some
questions we received a few
um during the last sessions that we had
um
quite an interesting question so i
thought i'll address those today
now the first one is coming from an rfk
led ig
um who's asking is there a strategy when
investing in cryptocurrencies
yes there is of course there's a
strategy that can be a strategy
now what i'm going to do is of course
not financial advice it's just
an idea so that you can form your own
opinion
now last session last week
we spoke about and i showed you how to
do your research
um that's part of very very important
part of the strategy knowing where to
invest but
there's also something else in this
market
the crypto market exists of many
small bubbles and big bubbles the last
big bottle we had in 2017
after that the market collapsed by 80 90
percent
and in between we have got small bubbles
that also have an effect on the strategy
so let's look into that
this is ethereum us dollar and i
deliberately went back
a few years so this is 2017 as you can
see the price went up
from 10 up to
395 pretty steep increase
and then it went down to uh 148 so let's
take a look at that
that is a drop of
yeah around 60 percent
so that's typical of this market and now
will it be again 60 maybe i don't know
but it will exist i mean these big drops
are absolutely fundamental and important
to the crypto market
because um as you'll see um
things evolved from there yeah so if i
go further
into 2000 2017
you see that's where the bull market
started yeah so
here was the 395 then the big dip
of 660 percent it went up to 393 so
within one month
down 60 percent then up sixty percent
then it down again
and then suddenly went up to three
thousand three hundred seventy seven
all this year within six months so when
you're investing in the crypto market
this is something you need to take into
consideration
yeah so the the big ups and the big
downs uh
part of this market they are currently
big part of it you see some coins tokens
increasing by 100 a day others
decreasing by
that same amount another 100 of course
by by 50 40
decreasing so um yeah take that into
consideration
now what can you do nobody in the world
is capable of
finding the peak yeah that's absolutely
impossible to do that
it's a very dynamic market so it's not
possible to find the peak
and so the recommendation i hear always
is
dollar cost average in other words take
profits by going in but also by going
out
yeah another what i meant by that is if
you're starting to invest in
cryptocurrencies
then um let's say you've got a budget of
thousand dollars or ten thousand dollars
then every month or every week you buy
four thousand dollars
until you consume the ten thousand
that's the best strategy
uh i hear to so you can
invest in in cryptocurrencies the same
thing is it's very important that you
take profits
yes every time when you feel that the
peak is near
that's your own feeling nobody can
really help you there then you just take
out profits
um the higher you go this goes the more
likely
it is that the big dip will come so
along the way take profits but very
important
if you miss this stop here which you
will of course everybody does
and then on the way down you take also
profits and if this thing my strategy is
if this thing dips by 50 then i will
take out the whole amount
um because then something bigger is
going to happen but that's only in
regards
to the big currency small currencies
have got a bigger
volatility so that's the strategy that i
recommend in regards to cryptocurrencies
next question
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is anonymous is asking is there a way i
can monitor the progress
of my portfolio yeah there's a cool tool
that you can download to your phone
yeah it's called blockfolio everybody's
using that
you can just download that that app it's
a
pretty nice app you can
enter which tokens you have i mean this
is the the website
blockfolio.com you can monitor what
tokens and coins you have you can enter
also the quantities
so you can really monitor on a on a
day-to-day basis on hourly hourly basis
the the amount of cryptos you have and
what's the value in in this case us
dollar but you can change the currency
it's a quite nice tool uh it will make
you addictive i
know that because uh yeah i've been
using that too for some time so you will
probably every two hours when a bull
market is
every two hours you will look into this
into your block for you to see what your
portfolio is doing
but that's a really nice tool it doesn't
substitute a real serious tool
to uh that you can also use to calculate
your taxes
this is something very simple you just
enter manually the quantity and that's
it
and it's on your cell phone and last
question for today maybe next
week we'll have a few more is which
exchange do you recommend to start
buying cryptos now
i addressed that last time from my point
of view
there is only two here in the us or
north america
one is binance the other one is kraken i
don't recommend coinbase
i don't recommend coinbase pro but
yeah to stay a little bit neutral in my
opinion there's a fantastic website now
this is
german so but if you use google chrome
they offer you the translation
so if i click here on english then
everything will be translated by google
chrome
and so that's blockchaincenter.net and
as always
i'll have the website in the description
and
what these guys did is quite nice so
they have got here the cryptocurrency
and then how much money you want to
invest it's europe because it's a german
website so but doesn't matter i mean the
relation between your
and u.s dollar or canadian dollar is all
more or less fixed
um so you can use the euro
and um and then you can sort by
recommendation or by price
so if we take let's say take ethereum so
i want to buy ethereum
and i have um 2 000
euros or dollars that i want to spend
i click on compare and so you see that
here and so if i
click buy a recommendation
that's what they recommend they're based
in europe so they will have different
exchanges that we have
this just in principle what will work
and what won't work
if i click on price then they saw that
by price so kraken
which we're recommending um will have
the best price together with binance
and yeah this way they also did some
it's typical german of course uh
it's fantastic they compare also the
plus and the minus pros and cons
of every uh of every exchange anyway
um so yes
those were the three questions that i i
was asked last week from to this week i
hope that helped
i'm going to continue doing this here
because i noticed there's a lot of
insecurity
amongst some of our viewers and so i
think it's important that i address
all different types of questions that
you have so yeah
as always please subscribe and please
leave us a
thumbs up it does help us it's important
and if you've got any questions yet
put them down in the in the comments
area or if not
just send us an email and i will try to
address that in the next session
anyway that's it from me thank you very
much for watching and looking forward to
see you next uh
time thank you bye-bye thank you robert
just a reminder that we're not providing
financial advice
but only sharing what's happening in the
cryptocurrency markets
always remember that the cryptocurrency
markets are ever-changing and
always volatile so only invest what you
can afford to lose
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you