London X City is a contemporary online magazine that looks at all issues facing the modern world, with a particular emphasis on London. They have now announced a new feature in their magazine, which looks at cryptocurrencies. Specifically, they have released 10 top tips to help prospective cryptocurrency investors, considering whether they are still something worth buying into or whether it is now too late.
Editor Chloe explains: "Cryptocurrencies were the hottest commodity in 2017. In the USA, it is now even possible to invest in them in retirement accounts. But just because something is popular does not necessarily mean it is good or even worth considering. It could be nothing but a passing fad, after all." People are encouraged to read more about this before making any financial decisions.
The value of Bitcoin, the world's first and still most popular cryptocurrency, shot up in 2017. However, since the turn of the year, the value has started declining. Because cryptocurrencies are not backed by a central bank or government, a cryptocurrency's value depends solely on what people are willing to pay for it. Chloe explains: "While the die hard cryptocurrency lovers say that they will one day replace fiat currencies, most people who buy them right now do so to sell them at a later stage for profit. You do, therefore, have to consider your personal investment strategy."
Those who do want to invest in cryptocurrencies have numerous ways available to them. London X City has looked at some of those methods, including individual retirement accounts and Forex brokers. For those who do decide to invest, they have revealed their top 10 tips in their latest article. Chloe says: "All investments are risky, which is why our main tip is that people shouldn't dedicate 100% of their investment portfolio to cryptocurrency, or to any other single type of investment for that matter. A diverse portfolio is a strong portfolio. We remain on the fence in terms of whether or not Bitcoin has seen its peak and will now only continue to decline in value. There is also a chance that it will pick up in value again. The question is when should an investor buy Bitcoin."
Those interested in getting more information can visit the website at www.londonxcity.com.
London x city is company that reports all about whats hot about London. London is an extraordinary city that needs to be reported on. We cover everything from food and celebrities to sports, business and money.
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