We’ve already headed into 2024 and we can’t wait to see what it will bring! One of our greatest achievements last year was our partnership with Bitpanda. We gladly collaborated to present you with a new way of investing and saving with cryptocurrencies. Now, we couldn’t be more excited about the future of the decentralized market!
It’s time to talk about crypto for the first time this year and expand on one of our previous blog posts. We will be emphasizing the potential of stacking some savings in digital coins and developing your crypto portfolio. Ready for new beginnings, more knowledge, and exciting financial management tips? Then hop on reading!
How to prepare for a prosperous 2024?
Investing via iCard is as simple as it can be. Yet, research is always the key before you take any other action. As 2023 has ended, we recommend reviewing the performance of the coins you’re interested in buying or selling in 2024. Read about the external factors that have affected the crypto market, too.
Shifts in the economy and geopolitical events are most likely to occur again (Andrew Kamsky, 2024). However, remember that past performances do not guarantee the same outcome in the future. They provide a valuable overview and will make you more conscious of your investments.
It’s still the beginning of the year, which is the perfect time for setting your financial goals for 2024. It can give you a better overview of what you can afford to invest over the year by building the proper budget. Learn from the overall market performance to estimate your potential. If you’ve invested before, take the best out of your past mistakes and most successful outcomes. This way, you can shift your investment approach for the better.
You should regularly check the top gainers, market volatility, and your portfolio to avoid any possible underperformances and losses. Once every quarter is optimal in order to be up-to-date with your investments (Bitpanda, 2023). You can easily check all the abovementioned data with iCard – open the app and go to the “Invest” tab. There you’ll find your total balance, assets, and top gainers. You can also get information about a cryptocurrency of your choice. Use it to the best of your abilities for the next step of your investing.
There’s no doubt that saving is of utmost importance for a prosperous year. If you consider investing, you could benefit from opening additional accounts in different currencies. How can it help you with saving? Well, you can keep a desired amount of money separately from your primary income and expenses and use it for your crypto investments. If you have an account in BGN, CHF, GBP, RON, or USD, an additional iCard account in EUR will be ideal for your crypto spendings. Every purchase or sale of an asset is completed in EUR; thus, having an account in EUR will spare you the conversion costs. As easy as it can be, you can withdraw your investment by selling your assets anytime. Then you can use your funds with iCard, as you normally would.
What’s coming?
Bitcoin was the top gainer last year and reached an outperformance of 163% (Giottus Crypto Platform, Linkedin, 2023). Experts predict that it will likely remain the most desired digital asset for investing. Bitcoin’s volatility will also probably continue in 2024, but the coin’s price is hard to predict. Factors like supply and demand, competing cryptocurrencies, regulation, and legislation affect Bitcoin’s price (Andrew Bloomenthal, 2023).Various coins are likely to continue underperforming due to their low popularity and interest (Sean Williams, 2023). Yet, you can keep track of their performance in 2024 as you never know which asset can make a big move at one point. If you find it intriguing, give yourself a chance to invest in cryptocurrencies and start your year exceptionally. Remember that investing is risky and often unpredictable, so you should always take care and stay informed.
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