What are the best ways to invest 36,800 jpy in cryptocurrencies?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the best ways to invest 36,800 jpy in cryptocurrencies is to diversify your portfolio. Instead of putting all your money into one cryptocurrency, consider investing in a mix of different cryptocurrencies. This can help spread the risk and potentially increase your chances of earning higher returns. Additionally, it's important to do thorough research on the cryptocurrencies you're interested in before investing. Look into their past performance, team behind the project, and any news or updates that may impact their value. Remember to only invest what you can afford to lose and consider consulting with a financial advisor if you're unsure.
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• Dec 16, 2021 · 3 years ago
  If you're looking for a more conservative approach, you could consider investing in stablecoins. Stablecoins are cryptocurrencies that are pegged to a stable asset, such as the US dollar. This can help protect your investment from the volatility often associated with other cryptocurrencies. Some popular stablecoins include Tether (USDT) and USD Coin (USDC). However, keep in mind that stablecoins may not offer the same potential for high returns as other cryptocurrencies. It's important to weigh the potential benefits and risks before making a decision.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we recommend considering a combination of long-term and short-term investment strategies. For long-term investments, you could consider investing in established cryptocurrencies with a strong track record, such as Bitcoin or Ethereum. These cryptocurrencies have proven to be more stable over time and have a higher chance of long-term growth. For short-term investments, you could explore trading opportunities on reputable exchanges. Keep an eye on market trends, news, and technical analysis indicators to identify potential entry and exit points. Remember to always stay updated and adapt your strategies based on market conditions.
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