How can you make money in the cryptocurrency circle and spend it in the cryptocurrency circle?
1. Choose a reliable token. Only when the token you choose is worth holding for a long time, the topic we are talking about today is meaningful. The most valuable long-term tokens are Bitcoin, Ethereum and other tokens.
2. Learn to control your position. My understanding is that you should not go all in when you come up, and always keep a part of cash to cover your position. I set a requirement for myself to ensure that the money in my hand can cover my position at least three times. If it rises a little, try to keep 15% of the cash.
3. You must use your spare money to invest. This is the top priority. Many people in the market lose money because of this. You must know that no matter how good the token is, it will not only rise but not fall. No matter how good the long-term rise is, there will be short-term fluctuations.
4. Try to find ways to improve your ability to make money off-site and ensure continuous cash input. In my opinion, a large part of the reason why Buffett became the stock god is because of this. His insurance company can continuously provide him with a large amount of low-cost cash, which ensures that he can hold a stock for several years or even more than ten years.
5. Don't chase the rise and fall. Don't start thinking about changing positions as soon as you see other tokens rising fast. I have tried several times but never made money.
6. Diversify your holdings. No matter how optimistic you are about a certain target, don't hold all your positions in one token.
7. Be patient. Don't think that you will miss the opportunity if you don't buy it now. The most lacking thing in the market is always money, not opportunities. Please remember this sentence! Don't think about making a big profit at once. Patience is a very precious thing both in the currency circle and in life.
8. Learn to withdraw money. You must withdraw money if you make money. If you don't withdraw money, it doesn't belong to you. The money earned by luck will be lost sooner or later by strength.
Finally, if you are a newcomer in the currency circle, and you are excited to rush into the currency circle when you see BTC hit a record high before, then I suggest you pay attention to me first, learn the knowledge of the currency circle with me, and make up for your basic skills.
A tall building rises from the ground, and glory can only rely on yourself. Only by laying a solid foundation can you go further.
