3 New line action for business with cryptocurrencies in 2023

3 New line action  for business with cryptocurrencies in 2023

Around the world, the thought of immediacy increased to obtain financial resources in the various age segments of the population is directly raising the interest in obtaining high returns in the short term, therefore, the activity with cryptocurrencies and trading are an alternative in frank growth.

Investors in the crypto world must make their decisions based on information, the most basic of which are: the volatility of the crypto, level of scalability, the cost of transactions, the current price, predictions, and the degree of centralization.

With enough information we can avoid the most common scams, which are characterized by promises of high profitability, empowerment by referral systems, low investment to enter the system and withdrawal of profits in a short time, these can be done by investment companies with physical headquarters or online companies, such as online mining companies that eventually become scams and take the profits and investments of their participants.

It is clear that the analysis of each project of each cryptocurrency must be done separately, it must be constant following the news at all times, the process is totally active to take care of our interests.

List of cryptocurrencies to invest 2023

Most of the investments in the world, so far in 2023, are centralizing in the following list of cryptocurrencies, which you can take as a reference to carry out or review your portfolio:

Bitcoin (BTC), Ethereum (ETH) , Litecoin (LTC), Uniswap (UNI), Chainlink (LINK),Dogecoin (DOGE), Cardano (ADA), Stellar(XLM),  Dash(DRX), Monero(XMR), Polkadot(DOT), Solana (SOL), Poligon (MATIC), Avalanche (AVAX), BNB  (BNB), Dai (DAI), TRON(TRX).

Note

The general recommendation that is heard in the cryptocurrency market during these days,  would be to bet on the second most important cryptocurrency after bitcoin for its transaction verification mechanism, if you ask someone who is new to these issues, they will answer that this cryptocurrency is Ethereum, but actually the second currency is Litecoin. (LTC). . It is probably the safest cryptocurrency yet, as it will halve by the end of 2023. True for obvious reasons. In general, Litecoin will show extraordinary resistance in the coming weeks and months. On a macro level, a possible recession in the US and the EU is a worrying headwind for risk assets, including cryptocurrencies.
Remember that this is not an investment suggestion but a point of view.

3 New line action  for business with cryptocurrencies in 2023

There is a lot of information about what cryptocurrencies are, digital assets, their types, their technology explained at all levels, if you have reached this post I want to help you by showing you the possible scenarios that I analyze in a simpler way and that I use to make investments, so You can also take them into account to make your investments.

It is well known that the market for investing in digital assets and trading with cryptocurrencies has a volatile and quite dynamic behavior, although it partially behaves similar to the market for products in the technology sector with which many experts associate its behavior, there is not even a guide. a framework to follow, so when investing in this type of business perspectives must be considered.

The perspective is associated with the approach with which the business is analyzed, considering the multiplicity of events that were associated with the behavior of cryptocurrency prices in 2022 and that we are still in what experts call the crypto winter here I present 3 approaches to consider in our cryptocurrency business in 2023.

1 Synergy Versus Individual Performance of each cryptocurrency

 
Bitcoin and Ethereum, as well as others called stablecoins, are the preferred ones for doing business and investing in the world market. In general, most of the portfolios are formed with an average of between 10 and 30 digital assets, but a lesson What we have learned during the last two years is that a single digital asset can rise enormously and give your portfolio a return. An example was those who bought Shiba Inu before the 2500% rise or the resounding fall of the Terra-Luna system  and that after a while managed to stabilize or at least did not sink as much as before, many who followed the experts who bet on this currency lost value in their portfolio, well, in short, that is the dynamism of the crypto world.
Let's go to the first approach:

⦁ In the case of the majority, they bet on synergy, that is, on having a portfolio with multiple digital assets where the profitability of the same will be the average of the result of operations.

Note: if really analyzing the project of a digital asset gives you enough confidence to dedicate yourself only to it, it can be the next ShibaInu and you can earn a good amount.

The type of digital assets that they usually recommend to be part of your portfolio will vary in percentage between the Stablecoins and the others with dynamic behavior, obviously this will be your decision.

⦁ If your focus is more on individual performance, it is clear that Bitcoin and Ethereum are the options that people choose the most in the market. You'll see it in billions of articles on the web.

2 Portfolio Returns vs. Portfolio Growth

For many experts, 2023 is going to be a better year for business with cryptocurrencies, as it is better, this other dilemma arises, at this time of crypto winter, if this year is going to be more profitable. Let's go to the second approach:

⦁ Portfolio profitability: we have the possibility of improving our portfolio, using the same amount of capital and through exhaustive monitoring of our operations, focusing on those that give us more profitability by doing applications or businesses only with these digital assets, progressively decreasing the amount of the other assets or wait for their behavior over time to make decisions regarding them whether to eliminate them or not, that is, concentrating my portfolio on a few assets that give me more profitability. In relation to the profits received by the businesses in my portfolio, they would remain in StableCoins USDT, BUSD in applications where interest is earned for fixed or variable applications, such as Binance Earn.

⦁ Portfolio Growth: The other started along the same path of exhaustive monitoring of operations with our digital assets but this time using the profits from our portfolio to grow our investment portfolio in diversity of asset types or in the investment amounts applied to the same.

3 Short Term Profits vs. Long Term Profits with Cryptocurrencies

The third approach refers to the time with which we will remain with our investment in digital assets and the moment in which we will withdraw our profits.

⦁ Short-term profits: it is to maintain our operations in short periods of time taking advantage of the dynamism of the market, buying and selling quickly, which is the daily life of cryptocurrency traders.

⦁ Long-Term Utilities: most join this point since they consider that it is the indicated time for operations, we can disagree with a clear example, nobody would imagine that after Bitcoin reached values of 68 thousand it would plummet to average values of 10 thousand, where many stayed and had losses and others collected their profits in short, but like any long-term strategy, it intricately trusts that the value of crypto assets will increase over time, this factor is also considered.

I have made this reasoning based on the decisions that business leaders have to make when they want to define where their companies are going, and since cryptocurrencies are companies in some individual cases, use these same bases to help those who feel confused by the Dynamism is a contribution so that as individuals we can take these notes and get a glimpse of a path or a methodology to follow if we want to start investing with cryptocurrencies or continue with the investments we already have.

3 Tips to invest in digital assets.

 
Investing in cryptocurrencies is not a casino

In other words, there are no random dice that decide if the price of your digital assets is going to go up or down, just know that prices always move for a reason. But that doesn't mean you can always figure out why. Indeed, what is normal is that it is not known.When I talk about the reasons that move the price, they are always those of the law of supply and demand. And after them, sometimes, the news comes.
That is why those who operate on the basis of information are always late and always end up losing money.

• Tip 1: Learn to read the price to anticipate the news

In other words, if you buy without looking, by closing your eyes on what you buy and when you buy it, you lose in the long run. This is because there are commissions (broker and market, they are inescapable).

In addition, there is one more important factor: The market is incredibly well-designed so that whenever you think it's a good idea to buy, you do it at the worst possible time. And the same happens when selling. Anything you do on impulse is pretty much guaranteed to be wrong.

• Tip 2: Never buy at random or invest blindly,and after  let's see what happens. Even if you happen to start out winning, in the long run you will always end up losing money. To win, you have to get out of chance and operate with knowledge.

Knowledge consists of knowing what to buy, but also many other things:
Know what to buy, when to buy, when to sell.  This is a definition of strategy.
With the right knowledge, digital asset markets stop being a  game of chance and become a game of skill.

Trader apprentices are often very impatient and constantly changing methods without actually learning one. They want to make money before they gain skill, and that leads them to gloss over what they have to learn. In turn, this leads them to believe that the method is not working, and they switch to a new method.

You just need to specialize once and stay therefor a season; but they don't realize it.

• Tip 3: Specialize in a very specific way of trading that works and stick with it. You will end up becoming one of the best, and that will make you a winner.

I conclude by saying that we must seek all possible information on the digital assets that interest us, seek personnel or companies specialized in the field that can provide us with the veracity and reliability we need to carry out our operations with digital assets and businesses with cryptocurrencies in 2023.

And let me know your opinion about  these 3 New line action  for business with cryptocurrencies in 2023 in the comments below.