Should the volatility of cryptocurrency worry you?

Kingsley

Valued Contributor
Cryptocurrencies are very volatile and this worries me alot because I always have intensions of storing my money in cryptocurrency wallets, so I would be able to gain more from money money in the wallet rather than having it in a bank where bank chargers will ripe me off.



I also want to stand at a point from the perspective of a person who wants to store his money in cryptocurrency wallets. This is because I do not trust online payment processors when it comes to storing money. But I realise that the crypto wallet has more advantage but at the same time very risky because I might lose my funds.

Since cryptocurrencies are volatile, I might lose and suffer a loss if the value of my stored currency drops, so yes, I do worry about volatility of cryptocurrency.

What's your view?
 

btaliat

VIP Contributor
Volatility of crypto makes it unique. The only reason why people do worry about this volatility of a thing is that they don't really make judicious use of it. When the bearish moments come, it is the time to stock one's wallets with cheap coins for the future and stop trading for a while, and when the bull periods come, then you sell the coins that you have held for some time. If people can be doing this, no one will be worried about the volatility of cryptocurrencies coins.
 

Chibson

VIP Contributor
Anyone who wants to venture into cryptocurrency trading should bear in mind that it's very volatile. Basically, the main reason people trade crypto-currencies is because of it's volatility. They buy whenever the price is low and sell when the price is very high.
 

Sotherefore

VIP Contributor
This is not something you should consider,the volatility in crypto trading is just a normal something that have been happening every day and it's something you should never consider because if you are considering this it will make you to lose your money, you must face and develop an immune system for that.
 

sincerem

VIP Contributor
That shouldn't worry core Cryptocurrency traders, cos through the volatility they earn money too. If we don't see its volatile nature, we wouldn't be making money around crypto. The volatility helps us a lot for the experience ones to earn through crypto investment. Investing when the market is down especially now, and expecting it to grow high in the future.
 

Sotherefore

VIP Contributor
I do not allow this to bother me because no matter how you are afraid of it it will still be there because that is one of the main characteristics of crypto trading, any form of crypto trading that does not have volatility may not actually be the best, this will not affect me in any way.
 

sincerem

VIP Contributor
If you're a core trader with long vision, and passion to drive success around Cryptocurrency then you shouldn't be panicked when the bearish run occurs for long time. Even if it occurs for like 5-6 months, we shouldn't be over panicked to sling our coins off. Surely it will correlate when the bull market run takes over.
 
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