NOVICE - How do I start making Investment into Cryptocurrency?



  • Please and please, I need help advise as regarding cryptocurrency and how to start mining and making money out of it. I've made a wrong investment in the past into TBC (The Billion Coin) ponzi scheme, I thought they were real with all their promises but now I want to learn from this forum how I can start with cryptocurrency.



  • @Efukikata Hi and welcome to the Burst community :) The two most common ways to make money with cryptocurrencies are :

    1. Trading : buying cryptocurrencies on an online exchange, waiting for their value to go up and selling them later. Make sure to research a lot before investing in anything.
    2. Mining : Using your computer to secure the blockchain of the currency and being rewarded with coins for doing so.

    Burst is very easy to mine and only needs free space on a HDD, you have a complete walthrough for beginners here : https://forums.burst-team.us/topic/1639/burst-newbies-walkthrough-a-must-read-for-beginners



  • @Efukikata Welcome here.
    Mining, trading, and take a look at the asset section ;)



  • I would start by reading up as much as possible and determining what you want to do.

    Options are.

    1. You can put in some money in assets/shares and let other people make money for you, this carries risk because of the nature of crypto currencies.

    and

    1. Find a coin that you think you can manage to mine on your own, then do it :)

    What I did, I went the second route, made my own rigs, and from that, put in the profit to the first option. Again, it's not fast money. You'd be lucky to be coming up with 4%-5% net profit every month.



  • @Gadrah_ Thanks for your reply, I understand how No. 1 works but No. 2 is where I got lost. How do I mine... probably I need to do more reading because I'm a complete novice on mining matter.

    As for No. 1, how do I predict to know when the value of cryptocurrencies will go up and vice cersa?



  • @Efukikata Have you read the walkthrough ? You can also watch this video on mining, it helped me a lot to get started when I discovered Burst :

    If somebody could predict when cryptocurrencies will go up or down, he would be the richest man alive :) The only thing you can do is risk management, you have to know what you are putting your money in, you should have reasons to think it will go up in price and you should be very careful about scams. Beside money, the only thing you need in order to invest is knowledge. Research, research, and research again.
    There is this guide I found on bitcointalk that you may find useful : https://drive.google.com/file/d/0ByC-TIOWdlEXX0ZPdWdiT2Y3YnM/view

    In my opinion, Burst is one of the best crypto investment you can make right now. But never listen to strangers on the internet ;)



  • Nobody can really "predict" when a coin will go up or do, they can just make informed guesses.



  • Moved to help and support