Cryptocurrency Investment Options: Which Crypto Platforms Are Worth Investing In?
Amidst the escalating interest in Bitcoin, newcomers are advised to resort to specialized platforms to purchase and store their digital currencies. With numerous technical choices, regulatory vigilance, and potential scams, it is essential to educate oneself before diving in.
In France, platforms like Bitstack, Coinhouse, Crypcool, Meria, Paymium, and StackinSat cater to beginners, enabling them to buy Bitcoin for the first time. For more experienced investors, international exchange platforms such as Binance, Coinbase, and Kraken offer lower fees but require a deeper understanding of the market.
However, beware of fake investment platforms. The Financial Markets Authority (AMF) recommends ensuring the platform you choose is registered on its white list of "actors registered as providers of services on digital assets (PSAN)." Keep an eye on the AMF's blacklist of unauthorized sites as well.
Once you've opened an account and chosen a payment method, the storage of your digital assets is crucial. The most secure method involves retrieving your Bitcoin and storing it on a physical wallet, such as a Ledger. Known as "cold storage," this method disconnects the wallet from the internet, making it less vulnerable to hacking. Alternatively, you can entrust the conservation of your cryptocurrencies to the intermediary where you opened an account. This allows for a smoother resale process but may require some technical expertise.
Reputable platforms usually offer educational tools and advice on building a crypto portfolio. They may also encourage setting up automated investment plans to smooth out market fluctuations in the highly volatile crypto world.
Bitcoin is an electronic currency that enables peer-to-peer cash exchange. In mid-December, it reached its peak, surpassing $100,000, but has since dropped to $75,000 due to the trade war launched by Donald Trump. Despite this, some see Bitcoin as a potential safe haven. However, its volatility remains strong, and investors should be prepared for dramatic ups and downs. Professionals advise allocating no more than 5% of your financial portfolio to Bitcoin.
When it comes to other cryptocurrencies, the general public is advised to exercise caution. Their volatility makes them too risky for the average investor. By following best practices for security and storage, beginners can navigate the world of cryptocurrency trading safely.
Scholars interested in cryptocurrency investing might consider allocating a small portion of their financial portfolio to Bitcoin, as professionals suggest no more than 5% is advisable due to its volatility. To secure their digital assets, particularly Bitcoin, experienced investors could research platforms registered on the Financial Markets Authority's (AMF) white list of "actors registered as providers of services on digital assets (PSAN)" for a safer investment experience.
