Should I Wait to Buy Bitcoin or Ethereum?

Bitcoin trade and Ethereum trade are on the rise, and even though cryptocurrency was invented almost 10 years ago, there's been a surge in the last few years. We've especially seen a rise in the popularity of bitcoin trade, and now ethereum is coming in hot as well. If you've been interested to learn more about all cryptocurrency and you want to invest some money into various types of it, you'll definitely want to do your research first. It helps to wrap your head around how all cryptocurrency works and what bitcoin or btc is, and what the other types of cryptocurrency are as well. Cryptocurrency is a digital form of money. It's a type of exchange that uses cryptography to make all transactions extremely secure. All cryptocurrency and the cryptocurrency system is a decentralized system as opposed to the current central banking systems. This is done on what is called a blockchain, which is a public database of all transactions ever done. This makes it very hard to be fraudulent and also it secures money from inflation. Bitcoin was the first type of cryptocurrency, and it was created in 2008. Since then, there have been multiple types of cryptocurrencies created which people sometimes refer to as altcoins. Ethereum is just another type of cryptocurrency.

So when it comes to bitcoin trade or any type of cryptocurrency trading as an investor you want to be strategic about how you're going to invest your money. We're now seeing that ethereum is rising in value which makes it more desirable to buy, but there is also some risk involved as well. Cedric Dahl on YouTube shares a lot of financial advice especially advice about bitcoin trade and cryptocurrency. He has some advice that he was going to give to his brother who is wanting to invest in cryptocurrency himself. The main thing Cedric says is to start small, which is always good advice. He suggests to his brother to do dollar cost averaging which is where instead of putting a lot of money in at a specific market price, you simply put in a small amount regularly until you accumulate your position. This way you're not putting too much in at such a high risk, but if the value goes up, you will benefit. You can also put in an amount that you could stand to lose like $100.

So what Cedric does is he buys a little bit of a type of cryptocurrency that's new to him at only a dollar per day. He does this because no one is certain what the future price of btc or any other type of cryptocurrency will be. If you have a longterm perspective like he does, investing a small amount over a long time would be beneficial. The price of all cryptocurrency can be very irrational which is why it's good to tread lightly and have a longterm plan as he does. Bitcoin seems to be raising in value rather than dropping at this moment, so he also says that instead of waiting for the prices to drop, just invest a little bit at a time until you reach your goal or position. This is far better than sitting around and waiting for the price to drop just so you can buy more of it right away. So if you want to get started on investing in bitcoin or ethereum start yourself an account on a platform like Coinbase which is the one that Cedric uses himself. This will be like your virtual wallet where you store and spend money from. Check out the full video and learn more on YouTube.***