đ§ â Think and manage correctlyđâ
The crypto world is difficult to understand, it has many variable factors that affect the price and can lead to profits or losses. The risk is high, so one must be aware of the high volatility and making correct decisions with prior consideration is essential.
1. Pose a business model.
It is essential to know what business you want to have. In my humble opinion, one must know that 90% of people who trade will obtain negative results and lose money. It does not mean that if you invest 100 euros you will obtain a result of 80 euros, but that despite obtaining 120 euros, if you have not traded you would have 150 euros for just holding.
Knowing that 90% of people have losses, are you among the best 10% of economists in the world? Surely the answer is NO, so the recommendation is to have a basic and easy-to-execute, conservative strategy. Wait for the 4-year cycle where the correction to 80-90% of the ATH value occurs, and buy every day with money you don't need. Wait for the price to increase to a life changing figure, and sell everything to reap the benefits.
2. Crypto selection.
It is important to choose the crypto project well to be able to obtain benefits. BTC should be considered the safest project and the rest require rigorous study. Personally, I first look at the probability of being hacked, secondly the real usefulness and impact on a day-to-day basis, thirdly the vesting process and situation of the project, and fourthly what it can scale, among other important parameters. It is important to select well for the final X% of profits. Projects with low security can cause a gap that causes a crash to $0.00, and projects without utility are difficult to obtain profits (except for meme coins), so it is important to choose well.
3. Know how to leave on time.
If you don't sell on time you can lose 80-90% of the money. Don't be greedy and think đ§ â
