SECURE YOUR CRYPTOS
During a downturn in the market, you may be focused on HODLing your crypto, meaning it will spend long periods of time in the same wallet. It can be done by:
* HODL your coins securely
* Self-custody:Take charge of your Private Keys
2. Beat FOMO with Dollar-Cost Averaging (Buy the dip with dollar cost average)
Investing in an asset because of FOMO is a bad idea at any time, not only when the market is pumping.
But if you’ve already resolved to get involved with a given crypto project, using dollar-cost averaging (DCA) is a nifty way to approach to mitigate your risks as you do it.
3. Understand How to Store Value
charting your course means understanding the pros and cons of whatever system or currency you’re interacting with. One of the key questions in this regard is whether an asset is an effective store of value – a consideration that applies to both fiat and crypto.
4. Become an Expert – It’s Time to Learn And most importantly , a bear market is a perfect time to increase your crypto knowledge without the buy-pressure, and gain valuable new insights by getting your head around the nitty gritty of crypto and blockchain.
When things get moving again, you’ll have an upper hand as you assess what’s in front of you.
5. Learn to Read Smart Contract Data
Smart contracts are the foundation for crypto,DeFi projects,NFTs, and dApps. They’re the self-executing agreements that enable users to interact with each other WITHOUT needing a legal middleman to conduct processes. But once a smart contract has been signed, it cannot be unsigned.
6. Get to Know Your Wallet
7. Use indicators to find the best entry point
8. Diversify your investments across different crypto assets.
Also, YIELD FARMING will benefit you a lot. Don’t freak out
This might seem like a no-brainer, but managing your emotions during bear markets is not as easy as it sounds.
10. Lastly, INVEST ONLY WHAT YOU CAN AFFORD TO LOSE
KEY POINT 👇
Bull markets can make you money, but bear markets will make you rich. This is because bear markets come with market corrections and price declines. During bear markets, you get to own great companies that are cheaply priced. So if there was a better time to invest in stocks, it's now.
