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8 Tips Every Cryptocurrency Investor Must Know


1. Ignore the “noise”

While thinking of investment always be ready for criticisms and naysayers. Only thing we should be careful for is proper trading and investment using our experience and knowledge. Just ignore the sheeps.

2. Expect the unexpected

This market is volatile that means anytime it'll go up or down. That doesn't mean we have to panic and rush. Here, expectations hurt sometimes but unexpected profits makes you happy anytime.

3. Avoid a bad trade or investment strategy

A common mistake for beginner cryptocurrency investors is joining what is known as a “pump and dump” group. Certain social media communities or ‘gurus’ may even promise investment tips regarding a particular coin. You should avoid these types of places at all costs; when travelers go down these roads, they don’t often come back.

4. Perform your due diligence

In this modern digital age, there is even wifi on the path to crypto investing enlightenment, hence there is no excuse to make an investment with little to no understanding of the underlying asset. Almost every single coin has easily accessible whitepapers online. And just like having maps in the car, the savvy traveler must be prepared.

5. Don’t place all your crypto-coins in one basket

Never invest all your money in one single coin. This will lead to a biggest downfall if rates drops out. Invest in various coins and earn profit per day by observation and proper technique.

6. Opt for an alternative personal email

Using a regular email account places an investor at an unnecessary risk of exposure for a data breach. To overcome this risk, it is recommended to create a unique account just for trading, especially with added two-factor authentication password security.

7. Understand the uses for both cold and hot wallets

Cryptocurrency can be stored via an offline “cold” wallet or an online “hot” wallet. Ease of access makes hot wallets a more desirable option for the beginner investor. However, as convenient as hot wallets are, they are susceptible to being hacked, whereas cold wallets are not able to be hacked (if prepared properly). Ideally, it’s best to store cryptocurrency you plan on saving for a long time in a cold wallet, and keep only a small amount that you might use on a daily basis in a hot wallet.

8. Remain careful around mobile wallets

When you store all your essentials and important apps in your mobile then there is a risk of potential harm if you lost your mobile or theft takes place. So there should be always an alternative kept to tackle this problem.

I hope you'll be well aware before investing directly in Crypto. These 8 tips will boost your vision and enhance your knowledge.

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