Be a Smart Investor - Tips that will Help You to Reduce Risk in Crypto Investment
Know the Market – Before you start to invest in any cryptocurrency, ICO or scheme, read and analyze every important aspect about the crypto or ICO
Never invest your savings that you can’t afford to lose
Do the fundamental analysis before investing – Properly understand the potential and real uses of your planned crypto investment. Never invest in what you can’t understand
Make a plan and start investing in small amounts.
Have Patience – Usually, holding is the most profitable strategy for Bitcoin and other popular cryptocurrencies unless there is an exceptional situation.
Never treat your crypto investment as a game of getting quick rich– Don’t monitor the Bitcoin Prices on the daily basis unless you are a day trader. If you Track prices frequently then it will become an obsession.
Control Emotions (Use your Intellect): Always follow your plan and intelligence, never get emotional with price fluctuations. You can’t use your intellect with greed or fear. Usually, selling at higher prices and buy back at lower prices is a risky game and you may face losses in this emotional trap.