4 IMPORTANT TIPS TO KNOW BEFORE YOU START TRADING.
1. DYOR!
The number 1 rule of all crypto trading is to do your research. Each cryptocurrency has its features and use cases (some don’t even technically have a real use case!), so you should always consider why you believe the price of that crypto will rise in the future.
2. Only invest what you can afford to lose.
Investing in cryptocurrencies carries risk, including price volatility and market uncertainties. You should never gamble more than you can afford to lose and certain investments can be considered a type of gambling. Investing in cryptocurrencies should ideally be done with funds that you do not need immediately.
3.Diversify your portfolio
One way to balance risk and reward in your investment portfolio is to diversify your assets. Diversification can help mitigate the risk and volatility in your portfolio, potentially reducing the number and severity of stomach-churning ups and downs. Remember, diversification does not ensure a profit or guarantee against loss.
4. HODL through the dips
HODL means holding onto your cryptocurrency assets instead of selling them, even during the times of market volatility.