Investing for Beginners: Investing in Crypto
BOTS wants to make sure that everyone in the world has the opportunity to build a second, passive income through investing. But, not everyone has experience with investing - which can make it all look a bit daunting. So that's why we've decided to share as much information as we can in our "Investing for Beginners" series!
Investing for Beginners
Last time, we shared more information about funds in our “Investing for Beginners” series. It was all about the types of funds and why people decide to invest in these funds.
You can read the entire article here.
Today, we will focus on investing in crypto: what types of crypto are there, and how can you profit with them?
Investing in crypto
In addition to investing in the most common forms such as stocks, bonds and funds, investing in crypto is booming. Nice to know, but what is it? We’re happy to explain!
Cryptocurrency, as a currency, is designed to make payments without the involvement of banks and governments. The payment system is registered in a so-called blockchain, which is just a kind of database.
Simply said, cryptocurrency is digital money. You can’t deposit it in the bank or pop it in your wallet. What you can do, is keep it in a digital wallet. What do you keep in this wallet? Most often well-known types of cryptocurrencies such as Bitcoin, Ripple and Ethereum.
Different strategies for trading crypto
If you want to start trading crypto, there are roughly two main strategies that you can follow:
Buy and hold
The most straightforward strategy to follow is the buy and hold strategy. With this strategy, you purchase cryptocurrency and then simply leave it be. You buy it and hold on to it. By doing so, you anticipate an increase in the price of the crypto that you have purchased. A strategy that works very well: if the price of your purchase does indeed increase.
A second and more time- and energy consuming strategy is (Day) trading. When you (day)trade, you actively trade. Most often daily. To be effective, you have to keep a close eye on the prices, the market and developing trends, and ensure that you are always aware of things that influence the price of your purchased crypto.
The BOTS app and cryptocurrency
The BOTS app currently focuses on investing in cryptocurrency (more trading options will come soon!): but we cut out the middle man. We’ve reinvented automated trading and put it out there for anyone to profit from. The BOTS app uses bots that do all the work for you. All you have to do is pick a bot, invest the funds, and be patient!
But how can you trust these bots? The bots in the BOTS app are developed by specialized developers and work through algorithms, artificial intelligence and machine learning. As a result, there is no more need for a (digital) fund manager. This means that you don’t have to pay for the costs of one, either.
The return that a bot achieves is significantly higher than the returns that a human might achieve. Why? A bot doesn’t eat, sleep, take pee breaks or gets stressed out when the market dips. This means that a bot can respond to changes in your crypto fund right away: no matter the hour.
And there you have it, in a nutshell: how we made investing with higher returns available for everyone. All you need to get started is 2 minutes and €50-.
BOTS is a tech company that has developed an app that makes it possible for anyone to start investing. You only need €50 to get started. BOTS uses automated trading strategies based on algorithms. We call these algorithms bots. These bots are tiny superheroes: they make automated investing accessible to everyone. With their help, you can invest in cryptocurrency within minutes — without any knowledge! And we’ll do you one better… In 2021, you’ll also be able to invest in stocks and other currencies through the BOTS app.
The app is free to download and quick and easy to install. BOTS currently operates in more than 15 countries, and by the end of the year, BOTS wants to be active in at least 60 countries and four continents.
Need any help with anything?
Even though automated investing is incredibly easy, you might need some time to find your way around the app and discover all the options. So if you still have questions wandering around your mind, or you just can’t seem to figure it out, please do not hesitate to contact the BOTS support department.
Don’t feel like calling our support team? Just head to the BOTS YouTube channel and browse through the dozens of instructional videos that may help you further. You are also royally invited to the BOTS Discord channel.
Ready to get started?
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.