In this article, I summarized 10 points or rules which I learned from crypto market and These Rules will helped you in making profits.
1. Know the asset you are investing in. If you decide to buy Bitcoin, read about Satoshi Nakamoto’s white paper first, learn how blockchain technology works, what is a public and a private key, what is proof of work, etc. If you are buying Ethereum, learn about smart contracts, how initial coin offerings and decentralized finance platforms work, etc. There are a lot of free resources on the internet with easy-to-understand explanations.
2. Know the crypto regulations in your country. What kind of cryptocurrencies are you allowed to buy and hold in your country? What kind of documents do you need to provide when buying crypto? How does the crypto tax regulation work? When you want to sell, always contact your crypto broker/exchange in advance to ask for the cash-out procedure, contact your bank in advance to ask what you need to provide in case you have a large amount of money flow into your account. Remember, always research these things in advance, even if you do not plan to sell immediately because it probably takes a very long time for those institutions to check and verify everything.
3. Do not invest more than you can afford to lose. Do not use your emergency money because crypto prices are very volatile and you might not get your money back when you need it urgently. Invest an amount that will not put you in a difficult situation if you lose it.
4. Never go all-in. After you have decided the total amount, you want to invest, for your first-time investment only spend part of it to buy whichever cryptocurrency you have researched and think is promising. Always have some cash at the side to buy the dip. This also reduces your risk of losing all the money when your expectation does not work out.
5.Do not panic sell when the price is experiencing a fast drop unless you are already in significant profit and thinking about exiting. Normally whales use this strategy so that they can get cheap coins. Do not fall for that trick. Also, negative news affects the price of crypto, such as bankruptcy of exchange, some country bans the use and mine of crypto. In the past, prices tend to recover after some time.
6.Do not buy when the price just reaches an all-time high. Because all the people who bought at low price earlier are aiming to sell their coins at this level to take profit. Normally, after prices experience parabolic growth, either a huge downtrend will follow or a price correction will happen.
7.Take initial investment out once you are in profit. This way, you get your money back, even if you lose, you are only losing the profit you have made.
8.Diversify. Do not put all your eggs in one basket. In order to reduce risks, focus on large-cap cryptos which actually have real use cases. It also does not hurt to diversify into other assets, such as stocks and gold.
9.Set a realistic profit target and exit strategy. Remember that you are not there to maximize profit, but to increase your fiat buying power. It is impossible to buy exactly at the bottom and sell at the very top, all we do is to buy low sell high, to make a profit during the uptrend development. Here are two good videos from DataDash and Ivan on Tech about exit strategy I would recommend.
10.Do not fall for scams. Such as free giveaways which require you to send your crypto to another address, comments on Twitter and YouTube where people say they made $$$ with some person, impersonators of big influencers. I am 💯 sure these rules will help you If you follow them ❤️‍🩹.
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Think you can predict the BTC market? Put your intuition to the test and grab your share of the $5,000 USDC reward pool! Join our daily “Bullish vs Bearish” voting campaign and connect with the crypto community by sharing your market sentiment.
Campaign Period: 2024-08-08 00:00 to 2024-08-14 23:59 (UTC)

How To Participate:
Vote on $BTC Direction and Share Insights:
Option 1: Visit the BTC trading page and vote whether the day will be bullish or bearish. Share your insights and reasoning behind your vote in an accompanying post.

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Winning Criteria:
Bullish Votes Win: If the BTC price at the end of the day (daily close price) is higher than the price at the beginning of the day (open price).Bearish Votes Win: If the BTC price at the end of the day (daily close price) is lower than the price at the beginning of the day (open price).
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Daily Challenge
Participate in our daily task! Users who post and vote in the correct direction will be eligible to share a $500 USDC prize pool each day. Join every day and predict correctly to win!
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This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for the votes to count. Each day runs from 00:00 (UTC) to 23:59 (UTC). Rewards will be distributed in the form of token vouchers to eligible users within 21 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right of final interpretation of this Activity.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.