Ted Bauman did an article a few weeks ago cautioning the would be cryptocurrency investors to ease off the gas pedal and take some time to study the market to see if it is ready for the numerous offerings that are cropping up almost on a daily basis. In the article, Ted Bauman describes 3 types of investors. The first group is the balanced, careful ones who go out of their way to search for the best humanly possible advice before they put their hard earned money on something. These are the types of people who subscribe to concrete investment advice services such as the ones provided by Banyan Hill Publishing. They take their quality time trying to understand the industry they are about to invest in and above all they seek to also get a good grasp of the risks and challenges associated with the trade they want to partake in.
The second category is what Ted calls the gamblers who as the word suggests take a gamble with their investment decisions. These group of people have a pretty decent understanding of the risks involved with their trade but take calculated risks so that in the unfortunate event that they might fall they’d rather have a softer landing. The third and final group according to Ted Bauman is the desperate. These types individuals are rather driven by a sense of panic with an unfound of striking it big. One of the driving forces of such people could be an urge to try and make up for the several years of financial neglect hence they believe in overnight success. A good percentage of these people are attracted to cryptocurrencies since it kind of promises to help them achieve their goals faster. Read more about Ted Bauman at Ezine Articles
In 2017 alone there have been up to 20 Initial Coin Offerings in a single month. An Initial Coin Offering is one of the ways startups use to crowdfund the release of a new cryptocurrency whereby they sell tokens for money that can be exchanged for the new currency at a later date hopefully worth a higher value. With the rate at which the ICOs are being issued, there’s need to go slow on them since there are no guarantees that all those currencies are going to succeed.
Ted Bauman is the editor of the Bauman Letter and the Editorial Director at Banyan Hill Publishing. He is an expert of low-risk investment, privacy, asset protection and international migration.