Crypto

Crypto Investor: Don’t Make These 3 Mistakes That Are Losing Money! – ₿magazine

1) Buy high (ATH)

Unfortunately, many investors fall into the trap of buying a cryptocurrency when it marks a new ATH. However, you should know that the higher the price rises, the more the probability of a reversal increases. Conversely, this is also true for recessions.

There is only one way to make money in any market: buy low, sell high. By doing the opposite, you will lose money!

To reduce risk, many experienced investors prefer to use DCA method (dollar-cost-averaging). They acquire a certain amount of cryptocurrency at regular intervals, each time investing the same amount. This has the advantage of spreading your investment over time and thus reducing your exposure to sudden market drops.

🔐 Trezor now allows you to buy bitcoins directly on its Trezor Suite platform. The company will also allow investing in DCA through auto-recurring purchases from May. https://t.co/B3MLjRJSmq #Trezor #Bitcoin #DCA
Image

Many cryptocurrency apps allow you to schedule recurring purchases weekly or monthly.

2) Do not do your own research (DYOR)

You have, of course, already seen the term DYOR, which means Do your own research. It is important to do your research on a cryptocurrency before buying it. In fact, even an experienced person can create a cryptocurrency in minutes with special comfortable platforms.

So don’t believe people who tell you that this cryptocurrency will be next Shiba Inus. You should learn about the development team, the community around the project, various resources (white paper, website, already launched products, etc.).

Read also Shiba Inu Price Prediction – NOWPayments allows you to convert SHIB to fiat currencies

3) Don’t apply money management

It is extremely important to determine in advance how much you are going to invest in cryptocurrencies according to your risk aversion and your financial capabilities. It is tempting to invest all your savings in cryptocurrencies when its price is rising rapidly, in the hope of getting rich quick. If some people like Glauber Contessoto we know that thousands of investors have lost most of their savings trying to do this. And we don’t talk about them in the media.

Glauber Contessotto became a dogecoin millionaire. He explains what next cryptocurrency he plans to bet on https://t.co/sbL1k0qRiX #crypto #cryptonews #zonecrypto
Image

In addition, it is important not to invest money, the loss of which will put you in a difficult financial situation.

💎 Get Free Crypto Watches

Quickly Done, Well Done Crypto Watch: Every Friday at 20:00 sharp, get our free crypto watch in your inbox. 100% value added, 0% spam!

🔥 Receive as a bonus a free guide “Find the Nuggets of the Future”: learn how to analyze cryptocurrencies like a pro, avoiding red flags and scams to start or continue your adventure in the cryptocurrency world.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker.