A must-read for newbies in the cryptocurrency world! Master these three points and you will be one step ahead
1. Don’t trade frequently
If you are still watching the market frequently, worrying about the price, and unable to sleep at night, then you are probably not investing, but gambling. This approach will not only not produce ideal results, but will also seriously affect your life and mental health. Real investment requires a calm mindset and long-term planning, rather than short-term speculation and impulsive trading.
2. Do what you can and accumulate experience
The cryptocurrency world may be the world with the most routines. Don’t invest large sums of money before you have enough experience. Use money you can afford to lose to play with coins, so that your mentality will not be unbalanced. Strictly follow the plan, use a small amount of money without additional funds to take risks and be harvested, and gain experience in the cryptocurrency world. This is the most cost-effective way to spend money to buy experience. First, understand the market and various operating skills through small investments, and then consider larger investments after accumulating experience.
3. Diversified income channels
The cryptocurrency world is not the only way to make money by speculating in coins. There are so many paths to explore, such as early investment in projects, mining, participating in decentralized finance (DeFi), understanding and using blockchain technology, etc. The return is always proportional to the investment. I hope you and I can seize this wave of dividends, find a way to make money that suits us, and make full use of various opportunities in the currency circle.
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