Investment Strategies For Beginners
We’ve all heard of cryptocurrencies, the stock market, and blockchain. But how do you actually get started in the exciting world of investments? And what do these terms mean? If you’re looking for a way to get started in investing, here’s our top 5 investment strategies for absolute beginners.
Get Involved In Blockchain
Blockchain is a decentralized ledger that allows for the transaction of cryptocurrency. The concept of ‘getting involved’ might seem alien to an investment newbie, but blockchain actually allows for a transaction between two parties to be completed quickly and effectively. Try getting involved in blockchain exchanges to keep on top of emerging trends. There might also be online communities you can join that keep you informed of new technologies.
Find A Cryptocurrency To Invest In
A cryptocurrency is a form of currency that is attributed to a string of encrypted code. It has value attributed to it via its own cryptocurrency exchanges (unique crypto versions of the stock exchange). There are many forms of cryptocurrency with the most recognised being Bitcoin. However, there are plenty of new emerging cryptos that offer something for the new investor. Try investing in Ripple (XRP), a cryptocurrency that is cheaper to buy and exchange, to get involved in crypto at an affordable rate. Just make sure you keep an eye on the bitcoin price.
Open A Brokerage Account
A broker is a person who executes the exchange of goods for others. A brokerage account is when you set up an account with a broker to gain access to the stock market. There are many brokerage accounts available so you can find the right choice for you. You will need to fill in an application to start the account, and then invest a certain amount of cash to start investing. Never invest more than you can realistically afford to pay each month.
Get An App With A Broker Bot
There are many apps you can use, like Merrill Edge. Merrill Edge allows you to set up an investment account that is managed with a broker bot. A broker bot operates 24h to give you an automated approach to your investment banking. It is a brokerage account without a physical broker investing your money, rather an AI that is working for longer hours using machine learning.
Start Saving
It sounds basic, but having physical money in the bank is an excellent way to invest. Look for a decent savings account and put your money in there so it accumulates over time. The first step in investing is often taking the step of making sure you have some savings or disposable income to invest in.
Conclusion
As a newcomer to the world of investments, crypto and blockchain might sound like scary terms. However, there are ways to get involved with investments without breaking the bank. Take these simple steps to become more adept at investment strategies, so you can advise others or inform your own investment decisions in future. If you’re still not convinced, there are a huge number of online resources covering all of the above topics to discover more about the world of investing.