Business

Examining the Plunging Phenomena of Cryptocurrencies

During the late five years, the growth of cryptocurrencies is getting higher and more attractive. Many people are looking for the best way to get more money by investing in cryptocurrencies. When it comes to investment, this new kind of currency is what you want to keep your money at the finest place. The popularity of cryptocurrencies is also making the fiat currency to be quite low, although it is not a big deal. But, the growth of cryptocurrencies is not as good as it seems. There are plenty of problems occurred and it can make the condition worse.

5 Reasons Why Cryptocurrencies Plunge

Nowadays, with the rapid improvement of technology, many people are looking for the best way to invest their money. Cryptocurrencies are the alternatives for people who are looking for a good way in improving their lives, as the value of cryptocurrencies is quite high. The average price of Bitcoin is $4,058 which is quite big for the values. But, why are cryptocurrencies plunge again?

  1. The first reason for the plunging phenomena is about how regulators are cracking down. In this case, with so many ICO (initial coin offerings) from the companies, there are some problems occurred as the system of fund-raising for the start-up companies are now facing a legal obstacle. Indeed, it is not a simple thing. As it is a serious problem occurring in the cryptocurrency world, of course, it makes the situation worse.
  2. When you are looking for any initial coin offerings from the companies, you might find some new but fragile infrastructure for your business. In this case, the infrastructure of the company might not be safe and secure, which will make you feel uncomfortable when you want to invest your money in their business. It can also lead to dangerous things as you get a risky environment to start your business there.
  3. On its release, the cryptocurrencies are promising ideas of the best way to solve any problems. For example, Ethereum is considered to be the second biggest cryptocurrency after Bitcoin. This currency is the one which is purposed for a great, sophisticated computer for the world. But, now the realization is not as big as it promised.
  4. The private companies which are operating, trading and providing the cryptocurrencies are the ones with less regulation. When the currencies are getting the treatment from the right institution, of course, its usage can be really functional. If the government takes the regulation for getting the cryptocurrencies, the regulation will be more effective.
  5. The cryptocurrencies are developed by a group of developers. In this case, the community might seem solid and strong now, but it can be messy if there is any internal problem in the community. Although we don’t want them to happen, it can be quite challenging for the community to stand in the mid of lack of regulation.

Those are some things you can understand about cryptocurrencies for your need. In this case, you can also choose the right way to invest your money. Although it might be dangerous, you can still choose some things for your need.

Tips For Investing In Cryptocurrencies

With plenty of the reasons why cryptocurrencies are plunging again, there are still hopes for the use of this kind of investment. However, the price of the Bitcoin and Ethereum is getting higher. It can be a great choice for you to get the best investment if you don’t want to deal with the bank. Besides, their business is still great right now. All you have to do is be aware of the business and how you can get the best moment to finally get away from the investment once it seems like it is unpromising.

Business

Making an easy startup, here are the tips!

It has been held in 3 cities, Surabaya, Semarang, and Denpasar, The NextDev 2018 as an early stage startup platform in Indonesia have witnessed the birth of many potential new startups. The widest opportunity is given to support the development of startups which are often in the form of ideas, ideas, and concepts. Building a startup is indeed quite challenging, but having the spirit and willingness to learn, it is not as difficult as imagined. To make the startup start from scratch, there are some tips that can be applied.

Start From A Simple Idea

Sometimes successful startups come from simple ideas that are even considered trivial. Like Travis Kalanick and Garrett Camp who built Uber after having difficulty ordering a taxi. They believe that if this is a problem experienced by other people every day and are encouraged to solve it through startup. Start thinking of concepts that you think can provide solutions and bring social impact with the help of technology.

Find The Right Partner

After getting an idea, find someone who has the same vision and mission in building a startup together. This is very important to develop a startup from scratch because you will experience many difficulties if you just run it alone. Find the right partner from the nearest environment, like a friend or someone you meet at other startup events.

Slowly But Surely

You don’t have to have many team members or big funds to set up a startup. Sometimes, startup success is built on small things, such as creating a simple application or website that only requires minimal funds. Furthermore, services that are increasingly recognized by the public will make your startup more developed.

Open Minded

Even though you already have startup ideas and designs, you still need to have an open mind by paying attention to feedback, especially from users. However, this startup is made by utilizing technology to answer the problems experienced by the community. therefore, there is no harm in launching a startup in the beta stage or pre-launching so that you have the opportunity to correct the shortcomings.

Increase Ability And Relationships

Satisfied with the abilities that are now owned will make it difficult for you to progress. Keep your skills sharp by participating in seminars or workshops that can improve your understanding of building a startup. Also, develop your ability to expand networking. This will pave the way for collaboration with other parties so that they can benefit. Start diligently visiting coworking spaces, where you can meet many people from various professions, such as startup founders, freelancers, programmers, and even investors.

Things You Can’t Do

  • Do Everything Alone

How many successful startups have only one founder? Maybe only Oracle was founded by Larry Ellison. Building a company requires hard work, so you can’t do it all alone. Even though the business is yours, forming a solid team is one of the best ways to build a successful business in the future. Remember, every part of the business must be handled by experts, especially complicated matters such as taxes and legal issues.

  • Inability to Take New Steps

In order for startups to succeed and last a long time, sometimes you have to change business concepts and ideas. Therefore, set the strategy in the form of short and long-term plans, and prepare a backup plan that is useful if the initial strategy does not work as desired. Conversely, if your startup does not innovate and follow market demands, it can become difficult to develop.

  • Fear of failure

The biggest mistake that many make when building a startup is the fear of failure. This feeling must be removed from the mind of every startup. Moreover, failure is the key to your success and can have a positive impact on the future of the business if you learn from mistakes made.