Cryptocurrency investing : 4 straightforward guidelines!
cryptocurrency·@d0zer·
0.000 HBDCryptocurrency investing : 4 straightforward guidelines!
<html> <ol> <li>Invest only what you could afford to lose! </li> <li>Diversification</li> <li>Choose coins you understand. </li> <li>Invest periodically</li> </ol> <p><br></p> <p><strong>1. Invest only what you could afford to lose<br> </strong><br> This is probably the most important rule.<br> Bitcoin could go down. The whole market could go down and never recover.<br> This is not what I believe. But you should take this in consideration.<br> <br> Always think of the worst case scenario when investing. Not only for cryptocurrency.<br> You could apply this way of thinking on any market. <br> This way , you will always be aware of what COULD happen. <br> Don't play with your future.<br> <br> <strong>2. Diversification<br> </strong><br> I have been investing in cryptocurrency for a year now. Not that much. But enough to hear stories. I can tell you...I've heard some stories. <br> I know one guy that invested 150k dollars into 1 coin! One! He invested it a few months ago. <br> You know what happend? He lost half of it. <br> If you play the game , then do it smart. Invest your money into several coins. This way you wont lose everything when 1 coin gets destroyed.<br> <br> A good portfolio contains a mix of big coins ( Bitcoin , Ethereum , …) and some altcoins. <br> <br> <strong>3.</strong> <strong>Choose coins you understand</strong> <br> <br> This is important. It keeps you from panic selling when the market goes in a dip or crashes.<br> If you really believe in a project , you will be more confident riding out the storm.<br> <br> For me , I only invest in coins I use or at least understand.<br> <br> <strong>4. Invest periodically<br> </strong><br> Don't go all in.<br> A good strategy is to buy coins at a regular basis. Weekly, monthly, ... .<br> You will give yourself an advantage when the market goes down.<br> Cash! Cash is King. <br> You will hate yourself if you dont have cash in a temporary downtrend.<br> I learned NOT to buy coins when they surge. I buy when they go down. <br> Buy them coins at a discount!<br> </p> <p>Thank you for reading. Hopefully you learned something!<br> </p> </html>
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