Back in February 2016, I recommended that you all buy Bitcoin as a hedge – as the "gold of tech."
Those of you who moved on that recommendation made peak profits on the cryptocurrency of more than 5,000% in mid-December. But it's been a bit of a wild ride since then, with every bit of "noise" sending Bitcoin down 10% or so, and then the next day's "signal" bringing it right back up.
Just check out what happened while we were all sleeping Sunday night.
Most of the major digital currencies fell pretty hard – Bitcoin dropped 15% – after South Korea announced that it is cracking down on crypto speculation and launching an investigation into six banks. Seoul wants to make sure these banks are following anti-money laundering regulations – and, most likely, not allowing North Korea to trade cryptos.
I've long predicted that the world's major economies will do all they can to get a handle on cryptos – and that each time they make a move like this, we'll see a slide.
But digital currencies are here to stay. And they'll keep coming back – and keep making smart investors money.
In other words, don't panic.
While this is a very lucrative field, it's volatile. Therefore, to profit in this exciting new arena against that turbulence, you need a savvy set of tools.
You want to be able to put in lowball limit orders to profit from sell-offs. And you'll need stop-losses to protect your capital and profits.
There's only one way to do that…
You Need These Tools
As I've mentioned in a couple of our recent chats, we'll be talking a lot about cryptocurrencies in 2018.
That's because there's plenty of money to be made in this new tech-centric sector. And it's one that defines high-octane growth.
Consider that the first Bitcoin transaction occurred with zero fanfare nine years ago this Friday. Today, there are hundreds of rivals to this first crypto, and the industry is now worth some $759.7 billion by market cap.
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And if you want to rack up big short-term gains, you need access to those tools I mentioned before – and you need to do business with a bona fide cryptocurrency exchange.
So today, I'm going to show four that are top notch.
Now then, many of you have opened up accounts at the popular Coinbase online wallet. And for good reason…
No other firm has made it simpler to sign up, link a debit or credit card, and begin buying Bitcoin.
Coinbase's mobile app is so easy to use that it is now the most downloaded app on the iPhone. (And it got there quickly: In mid-November, it still hadn't even cracked the top 200 on that list.)
Coinbase is popular for two big reasons: 1) It's most basic function is buying and selling Bitcoin, Ethereum, and/or Bitcoin Cash; and 2) it's a robust "digital wallet" where you can park your cryptos after making trades on a major exchange.
Coinbase also is affiliated with the GDAX crypto exchange. However, I'm not currently recommending GDAX, because you can only trade four digital currencies on it, meaning it barely scratches the surface.
Now, before you start trading cryptos, there are a couple of things you should know. These aren't warnings telling you to stay away. I just want you to know what you're getting into.
- Crypto trading happens almost solely online. Unlike with stocks, you often can't call your crypto "broker." There's very little live customer support available.
- Some of the exchanges have become so overwhelmed that they're not taking new customers at this moment. I know they're working on staffing up, but for some it could take a few weeks or even a month or two before they're ready to start accepting new clients.
- Several are for trading cryptos only; they don't accept dollar deposits. That means you'll have to buy your coins at a place like Coinbase and then transfer them to one of these exchanges.
But it's worth the hassle. Just look at the 5,000% profits some Strategic Tech Investor members have made with Bitcoin.
Then there's the relatively new cryptocurrency I recommended to my Radical Technology Profits members back on May 3. They've seen peak gains of 1,195% – a true 10-bagger – in well under a year.
With that kind of life-changing wealth at hand, let's take a look at my four top-notch crypto exchanges…
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.