Cryptocurrency is a lucrative investment opportunity and has surpassed $1 Trillion as regards its market cap. Crypto investments are a great way to make extra money however the process might seem elusive which is why in this article, we will talk about how to start investing in crypto. In particular two cryptocurrencies, Parody Coin (PARO) and Cardano (ADA) are great low-cost options to start with.
Ready to Invest - Here’s How...
First-time investors will have to do a whole lot of research to know where to begin sometimes but it really can be a simple process, divided into four easy steps below.
- Open an account on a verified cryptocurrency exchange platform. There are several options for this and some popular ones are Binance and Coinbase. You have to make sure that the platform supports your preferred cryptos and for your sake, that they offer low-cost transactions.
- Deposit into the account. You’ll need to have some money in the platform’s wallet which you can use to buy crypto. Make sure that you have some emergency funds and that you’re not investing all your money in one place as the crypto market is highly volatile and you don’t want to find yourself depleted due to having to sell your cryptos with a high loss margin.
- Decide on a cryptocurrency. This requires in-depth knowledge of different crypto families to make sure their services and goals align with your own. Don’t choose crypto simply because it’s popular or others are doing it. The belief you have in it will push you during those moments of market turbulence.
- Invest in cryptocurrency. Crypto is not a “get rich quick” space. It could be, but that is not always reliable. Once you have bought a currency, you should be ready for a long-term commitment. Follow news on the project closely, understand its foundation and develop a strategy based around those and not just random tweets or commercials.
Now that you understand the basics of getting into crypto investments, it’s time to get yourself introduced to some promising cryptos that are cheap and could very well make for a good investment.
Parody Coin (PARO) - Making NFTs Affordable
Parody Coin (PARO) is a deflationary BEP20 utility token built on Binance Smart Chain (BSC) that is currently in its stage 2 presale phase. It plans to give its users the ability to mint parodies of popular NFTs and trade them for money. This is good because right now, NFTs are inaccessible to the majority because of their exorbitant floor prices and high gas fees. With these parodies, more people can mint and earn, in turn making NFTs cheaper for people to buy.
Another way for people to earn on Parody Coin (PARO) ecosystem is through its Paroflection mechanism which is built on the token reflection model. According to its white paper, 5% of the 10% tax charged on each transaction will be airdropped to its coin holders. This means that investors can make money just by holding PARO tokens. Parody Coin (PARO) is selling at a cheap price of $0.004 in its presale giving it the potential for massive growth an excellent investment choice.
Cardano (ADA)
Cardano (ADA) is ranked 7th on CoinMarketCap with a market cap of over $19 billion. It is the first network to be built based on peer-reviewed research. Cardano (ADA) runs on the proof-of-stake (PoS) consensus mechanism which is more environmentally friendly and less energy-consuming. It also enables smart contracts like Ethereum (ETH) and decentralised apps (DApps) powered by its native token, ADA.
For More Information On Parody Coin (PARO)
Presale: https://presale.parodycoin.io/register
Website: https://parodycoin.io/