I’ve been in Crypto for years now. Since early 2018 to be exact. It wasn’t a good time to get in, but nevertheless, the lessons I picked up along the way are priceless. I’ve had many victories and equally many defeats on this journey, and to say that I haven’t enjoyed every minute of it, well, that’s accurate 😄. 
Like many trying to make it through Crypto trading, I made some big mistakes, but I was lucky where I didn’t get myself wiped out completely. And believe me, that is something I have seen happen to many others throughout the years, especially those who put all their eggs in a single basket. However, I believe it is through the mistakes that I have reached the point where I am today. I am still far from my end game - my dream goal, but, for the first time since my journey began, I am starting to see that goal in sight.
So what was one of the biggest mistakes I was doing? Simply, I was re-investing all my profits from successful trades. Some might say that this is the way to go, but when you’re dealing with an unpredictable monster like the crypto industry, it is always good to ensure your success. 
The problem with reinvesting everything is you begin to forget why you got into this whole crypto trading thing - To earn as much Fiat as possible. You are basically diving into an abyss, climbing your way out and diving back in, not leaving anything from those dives. This is exactly what I see many people doing, they don’t put anything away, they reinvest, then the market eventually crashes, they panic sell or they’re left off with months to years of waiting before their crypto regains any of its previous worth.

So what has worked well for me?

Common sense really. Whenever you have a successful trade - Let’s say you made a $150 profit. Divide that $150 into 3 ways, as per follows:

$50 to your FIAT stash. This is your endgame stash. Don’t ever touch this stash, only add to it. As it grows, this is everything that you have to show for years of trading.

$50 to any Crypto that you want really. Basically buy any crypto, especially if it dipped and the price is right. This crypto is complimentary to your end game stash. It is a long term hold, when you have the highest price possible, then sell it.

$50 Your trading stash. The bigger your crypto trading stash gets, the more trades you’ll be able to do vs. other crypto and bring in profits. So don’t neglect this completely.

Would love to hear your thoughts in the comments guys, whether you have any ideas you'd like to share or just wanna say hello!
-------------------------------------------------------------------------------------------------
Thank you for reading! If you enjoyed my content or found it helpful in anyway, I would really appreciate it if you hit that like button and follow me. This helps in spreading my content to others who might find my ideas useful.

#writetoearn #investingtips #investingwisely #CryptoInvesting💰📈📊 #CryptoInvesting2024

It is very difficult most times finding a Crypto project that will be profitable on the long run but...

With these seven (7) tips below, you will find it easy to do so henceforth.

Before you continue…

Tap on my profile icon and follow me then share this post to help me get to 1K followers to support my work. Thank you fren.💙💙

Now, let's dive into it...

1️⃣Whitepaper and Project Purpose:

This outlines the project's goals, technology,
use cases, and potential benefits. 

It also assesses whether the project has a clear purpose, a strong value
proposition and whether it addresses a genuine
problem or market need.

Moving on...

2️⃣Team and Advisors:

Evaluate the team behind the crypto project. 
Check their expertise and see if they're experienced.

Those who are experts and have a track record in the industry. 
Check their previous projects, or involvement in the crypto community. 

To the next point...

3️⃣Technology and Innovation:

Evaluate the cryptocurrency's underlying technology. 

Consider if it's scalable with top security audit,
Whether it's decentralized (uncontrollable) and
unique features or innovations it offers.

Look out for partnerships or collaborations that...
enhance the project's credibility and adoption potential.

Let's move further...

4️⃣Community and Adoption: 

Examine the cryptocurrency's community and user base. 

Check if there is an active and engaged community supporting the project.

Look for indications of adoption, such as:
↪️Partnerships with established brands,
↪️Integrations with other platforms, or
↪️Usage by the real-world users.

To the next point...

5️⃣Tokenomics and Supply: 

Understand the token economics and supply states of the crypto. 

Consider factors such as the total supply, distributed and 
how tokens are used within the project's ecosystem.

Evaluate if the tokenomics incentivize
long-term value creation and utility.

Let's proceed...

6️⃣Funding or Seed Raised: 

Consider factors like funding raised, allocation of funds and 
transparency in financial reporting. 

Financial stability and sustainable funding can be indicators of a more solid project.

To the last point...

7️⃣Regulatory Environment:

Find out if the projects comply with existing regulations and
any potential impact on its future operations.

Assess the legal and regulatory risks with the project and 
the areas it operates in. 

Below is your BONUS point for hanging out with me to this stage my fren!

BONUS POINT:

News and Updates: 
Follow the official project social media channels for..
announcements, community discussions, and news.

These sources will give you insights into the projects:
ProgressPartnershipsPotential risksTechnological advancements
As long as investing takes understanding the fundamentals as explained above, it also takes wisdom to take profits when the market is excited and invest when it is scary. - Michael Akerele

Which of these points did you consider most important when investing
in Cryptocurrencies for long term profits?
Share it with me in the comment
section below.

For more content like this, ensure you follow me. And...
If you appreciate my work, consider leaving a like on this article and
share it out to support me get to 1k followers before month end.
Your support is greatly appreciated.

PS: Crypto market is very volatile and comes with risks, don't invest without proper knowledge or right mentorship as a beginner.

𝑭𝒊𝒓𝒔𝒕 𝒕𝒊𝒎𝒆 𝒔𝒆𝒆𝒊𝒏𝒈 𝒎𝒚 𝒄𝒐𝒏𝒕𝒆𝒏𝒕? 𝑻𝒉𝒆𝒏 𝑭𝑶𝑳𝑳𝑶𝑾 𝒎𝒆

© Michael Akerele (#AwesomeMike)

#web3
#BTC
#InvestingInsights
#investingtips
#InvestmentOpportunity
#Web3ForAll
#HDLifeCommunity
#cryptocurrency
#blockchain
#Bitcoin2024
#crypto