What are the rules I must learn and follow while dealing in cryptocurrencies?
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What are the rules I must learn and follow while dealing in cryptocurrencies?
Bitcoin is very volatile and has these movements multiple times per month. Don’t let FOMO drive your investment decisions. Another great rule is “do your own research”. Some commentators describe the widespread cryptocurrency hype as the new Wild West. And just like the original Wild West, it attracts predatory or even fraudulent individuals trying to entice naïve traders with promises of extraordinary returns if they only follow their investment strategy.
There are several rules that you follow while dealing in crypto- rules to help make sure you don’t lose your money and make your investment profitable. First rule of crypto is “buy when it’s low and sell high”. Often times, people get scared when their crypto investment is dipping, they get so fearful and just sell it off at that instance, that’s not good. However, a period of dipping is the best period for anyone to buy crypto, then leave it to grow. The longer you leave your crypto investment, the better it gets. Also, never disclose your passwords and pins to anyone asides yourself. Be sure you keep your passwords written down somewhere safe, this is because if you forget the password to your crypto wallet, you most likely lose the wallet and all there-in.