According to Idowu, the goal of having money is not to save it but to multiply it. It is this same sentiment that is expressed by oft-quoted Warren Buffett when he says that “Games are won by players who focus on the playing field—not by those whose eyes are glued to the scoreboard.”
I have money in my savings account but really don’t know where to invest it. What can I do? This may be the question bothering you and you’d be glad to know that there are several ways in which you can invest your money.
To start you off, below is a simple guideline of how to start investing money in stocks and crypto:
Stocks are basically securities which give you an ownership stake in a company. Therefore, once you purchase stocks or shares in an entity, you are entitled to a share of the profits in form of dividends. This is how people who have invested money in stocks earn money.
First and foremost, you need to choose a brokerage platform to open an investment account.
a) Depending on your skills and experience, decide whether you want to buy and manage your own stocks or hire the expert services of a stocks investment manager to do that for you
b) Analyze your savings/investment capital and then decide how much money you want to invest in stocks
c) Choose a stock brokerage firm you trust. We recommend Alinea Invest to get started.
d) Set up a brokerage or individual retirement account (IRA) investment account depending on what your goals are
e) Research and then decide companies whose stocks you want to purchase
f) Once you buy the stocks, hold on to them until stock prices reach your target or until when you require liquidity
g) Sell off the stocks at a price above that which you bought them for, inflation having been adjusted for
Like with stocks, investors earn profits from investing money in crypto when the assets they purchase appreciate in value. Therefore, if you are holding cryptocurrencies like Bitcoin (BTC) or Ether (ETH), all you have to do is wait until crypto markets go up before selling them.
To start investing money in crypto, follow the steps below:
b) Set up a crypto trading account on the exchange you’ve chosen
c) Transfer fiat money from your bank account to your crypto trading account which you will use to buy crypto
d) After determining which cryptocurrency you want to invest money in, place an order for your desired amount
e) Use a custodial or non-custodial wallet to store your cryptocurrency stock
f) Monitor movements in the crypto market and sell when your asset appreciates in value to earn revenue
Stocks and crypto are two very lucrative investments that can fast-track your progress to financial freedom. All you have to do is collect a lot of accurate information to help you understand how trading stocks and crypto works and you will be good to go.
Therefore, if you have been considering investing in stocks and crypto, you are definitely on the right path. Get on Alinea Invest today to begin learning and earning from trading stocks and cryptocurrencies.
The Content is for informational purposes only, you should not consider any such information or other material as investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Alinea Invest or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction. When investing your capital is at risk.