Bitcoin has proven to be by far the most profitable investment of the past decade, and the next ten years offer even more promise. The most successful BTC investors have followed a series of smart principles, which will be even more important for taking profits moving forward.
Not Trying to Beat the Markets
On the surface, it may appear that traders and market players make the most gains and that trading skills are needed to profit in the crypto space. In fact, the opposite is true. Slow, steady purchases of Bitcoin over the last several years have proven to be by far the best strategy for ordinary investors.
For example, a simple monthly Bitcoin investment of USD $100 per month since January 2013 would now be worth well over $1 million. In fact, beginning this same simple strategy when BTC reached its all-time high in January 2018 would also be very profitable by now.
Simply put, trading requires great skill, and most amateurs lose. Those that work in traditional financial markets have long understood this fact, and it is especially true for the crypto space. Thus, the best move is to be conservative and stay away from the trading game.
Diversifying But With a Hint of Smartness
Cryptocurrency is a new asset class, and blockchain technology is poised to revolutionize the global economy. Bitcoin’s ability to remain the top platform remains subject to debate, yet there is no question that other cryptos will find some measure of success.
Like conventional investments, a mixed cryptocurrency portfolio is a smart move. Some altcoins have given incredible returns to early investors. Many have amazing long-term potential. Nevertheless, alts are risky, and should only be acquired after a thorough,