Flow-er
Active member
There are several rules of investing in cryptocurrency and this must be followed if you want to be save your money and if you don't want a pathetic story, you need to follow the rules to the latter. In this thread, I will be sharing 3 basic rules that you need to follow if you're investing in cryptocurrency. These rules could also be applied in any form of financial investment . The problem that investors have, is that they do not have a certain rule that guides them on how to approach an investment.
Firstly, invest the amount that you can afford to lose. This is very important because you need to invest about 2% of your account in a particular venture and you don't want to blow all your account on a single investment. The fear of missing out(FOMO) would make so many people to invest all the account thinking that you will become rich overnight.
Secondly, you should know about the potentials of the assets that you are investing on in cryptocurrency. You should understand the digital currency that you are investing on so that you will not make huge losses and it will give you confidence on the investment
Lastly, develop a working strategy for yourself before trading and if you're not an experienced trader, the best strategy to use in cryptocurrency is the hodl strategy. We will be holding the cryptocurrency for a very long period of time for future gain.
Firstly, invest the amount that you can afford to lose. This is very important because you need to invest about 2% of your account in a particular venture and you don't want to blow all your account on a single investment. The fear of missing out(FOMO) would make so many people to invest all the account thinking that you will become rich overnight.
Secondly, you should know about the potentials of the assets that you are investing on in cryptocurrency. You should understand the digital currency that you are investing on so that you will not make huge losses and it will give you confidence on the investment
Lastly, develop a working strategy for yourself before trading and if you're not an experienced trader, the best strategy to use in cryptocurrency is the hodl strategy. We will be holding the cryptocurrency for a very long period of time for future gain.