This article is for beginners in Cryptocurrency investing. If you are one, read this article as it will help you learn more about the market and give you useful tips to make you a better investor.
1 – The Importance of Study
Firstly, clearly many tend to invest without educating themselves first, understanding how the Cryptocurrency market works is essential for making assertive decisions, it is interesting to know what differentiates a Cryptocurrency, for example, Bitcoin and Ethereum, each one has a different functioning that adds different utilities to the world, many investors start their journey, but do not know what ‘’BlockChain’’ is.
2 – Start with small investment amounts
Many enter with the aim of rapid growth, however the Cryptocurrency market is highly volatile, prices fluctuate, and as much as gains come, so does loss. Invest an amount that does not affect your financial situation, invest what you can really spend.
Example: if you earn approximately 2000U$$ per month, invest 5%/10% of your salary, start small.
3 – Portfolio diversification
It is always good to have portfolio diversification, because when one possible strategy does not work, another may, and this can minimize losses. Gain knowledge about different Cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), or alternatives such as DeFi to have greater specialization and know how to apply strategies intelligently using Portfolio Diversification.
4 – Use reliable exchanges
Exchanges like Binance or even CoinBase are respected and regulated, therefore, they provide greater security to the public, be careful with unknown platforms, or platforms that offer guaranteed profits, do not fall into these traps.
5 – Stay informed
The Cryptocurrency Market is always changing, staying informed is essential to take advantage of the opportunities that the market can offer, and it is also essential to prevent losses, participate in forums, telegram groups or news to obtain information and not fall behind in any negotiation.
6 – If you are reading this far, you will probably be someone who will go far, because most people are not committed to knowledge, they just want quick gains, congratulations on reading.
7 – Have a long-term vision
The Cryptocurrency Market tends to fluctuate a lot, especially in the short term. Adopt a long-term mindset and don't expect immediate gains. Know how to define Stop-Win and Stop-Loss, with a strategy that you believe will work, be faithful to your discipline.
8 – Don’t blindly follow influencers’ posts
Do your own research, do your own analysis, many influencers use their own visibility to increase their own earnings, and those who "follow the dance" are usually left behind, because they don't have a defined plan even after entering the market, the only person responsible for your success is yourself, educate yourself.
Conclusions: The Cryptocurrency Market is a highly volatile market, it is subject to changes at all times, it is always good to understand the circumstances which are favorable and unfavorable for trading, adopt a long-term mindset in the market and educate yourself, with this, you will hardly lose in the market.
Here are some Altcoins (alternative coins to Bitcoin, e.g. ETH, BNB, SOL) that I'm keeping an eye on lately, and that I firmly believe in the long term of each of them.
#YOU (YOU)
#Avax (Avalanche)
#SuperVerse (SUPER)
#Ethena (ENA)
#Injection (INJ)
Diversify your portfolio and increase your chances of success.
