1 - Do not buy a coin without doing some research on it. There are coins that are forbidden in Islam to buy, such as those that deal in usury, mafia groups, money laundering, homosexuality, and others. Only through research will you be able to identify such coins. Make sure you read the project's whitepaper carefully and understand their purpose, because whatever money you earn will be asked of you on the Day of Judgment in the way you earned it. Let's be careful.
2 - Do not agree to invest borrowed or borrowed money in crypto. If you are going to invest money, make sure it is yours, so as not to have problems when it comes to being accused of cheating, perhaps even going to court. Therefore, even if it is your father's money, do not invest it without his permission, because money that you can see can cause conflict between a son and a father.
3 - Invest what you can afford to lose, don't invest money that you know you will lose, or that you won't be able to sleep, or that you will be found in a hospital bed. Make sure that the amount you invest in crypto is more than you can afford, and that even if you lose it, you won't have any problems. For example: if you have ₦100,000 in savings, you should invest about ₦10,000 or ₦20,000.
4 - Don't let greed and long-term ambition prevent you from selling a coin after it has given you a profit. Make sure to withdraw your investment and a portion of the profit the first time the coin gives you a profit, unless you are holding it.
5 - Patience is the key to success in everything, even in crypto, if you are not patient you will not be able to make a lot of money, only a little bit. That is why I advise you to be patient and embrace holding rather than trading.
6 - Make sure you know what you are doing, that is, decide what you are going to do, either trading, or holding, do not enter the market without being sure of what you want to do in the market, you can make losses instead of profits. Also, it is good to set a target for any coin you buy. For example: After you finish your research on Bitcoin, you find out that it can reach $1,000,000, then make sure you determine the time to exit the market, either before this price is reached or when it is reached.
7 - Don't trust just one coin: The point is, don't be attached to just one coin, you will only invest in it, so that if it fails, you will fail too. Do everything possible to find quality coins and don't rely on just one, especially if you are going to hold it. In short (Diversify your portfolio).
8 - Don't rely solely on Crypto as a business, no matter how much money you make from it. Make sure you have other real businesses that you take your crypto profits and invest them in.
9 - Do not enter any coin that you see rising in value at such a time, otherwise you will become exit liquidity, for which the market will end, and they will not make a profit but a loss.
10 - No matter what people say about the coin you are holding, don't follow them, unless you believe in what you are holding, and believe in your research, otherwise they will lead you astray. Whoever says something, don't take it as financial advice, go and do your own research first (Do Your Own Research).
11 - Just as there are profits and losses in the physical market, so is Crypto, do not believe the sermons of others who only show you the pleasure of something, indeed there are profits and losses in crypto like any other market, so be prepared, crypto is not a platform, it is a market like any other market, and there is a risk of losing all your money if you do not have knowledge about it.
12 - Don't sit around without researching and studying. Make sure you read up on crypto before you start, and do your research and ask questions about anything you don't know to find out the truth, failing to do so can lead to huge losses.
13 - Money doesn't happen overnight. Don't be fooled by who made money with Crypto, you too should work hard, from your investment you will definitely earn a lot of money, no matter how small, it is God's provision, you just have to keep looking.
14 - Crypto is not a game of chance, it is a business, there is no free money in crypto, anyone who has made money has certainly suffered, not only in crypto, but anywhere, if they have not suffered, then someone else has suffered on their behalf. Money is not earned in vain.
God made us fit.
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✍️ Ibrahim Imam
(THE PRIEST OF THE BAIWA)
