An advice for Crypto Investing - page 3.

Lucius

legendary

Activity: 3220

Merit: 5634

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: Questat on May 25, 2022, 07:49:26 AM

In addition to that;
- invest only good coins, not shitcoins or hype.

What would be the definition of a good coin? With just under 20 000 coins/tokens listed (CMC), do you think 1% has any purpose and meaning? Those projects that have the most money and the most capable teams get the most visibility, which means the most investment and some kind of false credibility.

Quote from: Chapsy on May 24, 2022, 11:19:36 PM

3. INVEST MORE IN CRYPTO STUDYING - As the saying goes, "knowledge is power." More knowledge improves our decision-making abilities, as well as our ability to choose the logical and ethical reasons on which we want to base our decisions. Problems are solved with knowledge. Knowledge improves our reasoning and problem-solving abilities.

I would just warn people here that knowledge is not something that must be bought exclusively, but can be acquired using the Internet, reading books or free education. Someone will say that all this can come at a price, but I want to say that you don't have to pay a lot of money to learn some basic and even a little more advanced things if you want to learn something about Bitcoin.

What is also very important is the moral and ethical issue when we participate in some crypto projects, and for many, it is not important at all. If you doubt that a project will fail, and at the same time you can profit - will you stay aside or consciously participate in the scam for profit?

Jawhead999

legendary

Activity: 1638

Merit: 1156

Quote from: ?? on ??

No investment plan, or strategy is 100% save you have to take into account all the risks and profits as well. Here is a link for you to discover one investment strategy. https://exio.tech/blog/what-is-yield-farming-in-defi/

Did you mean 100% safe without any risk? LOL
Any investment always have a risk, no matter what the asset it is. Especially you're recommending to invest on so called decentralized finance aka shitcoins.

Quote from: Chapsy on May 24, 2022, 11:19:36 PM

1. DON'T USE YOUR PERSONAL SAVINGS FOR INVESTMENT - as the saying goes, "invest what you can afford to lose," so set aside money for this purpose.

After I learn and understand how Bitcoin work, I don't have any personal savings on my bank anymore, but it doesn't mean I don't have cash. I still have cash in hands only for my daily expense.

Questat

hero member

Activity: 2800

Merit: 603

In addition to that;
- invest only good coins, not shitcoins or hype.

The wrong choice of coins will literally end up mostly in losing. We need to be smart not just only in picking coins but also in making decisions. I do agree to keep learning, invest more time studying the market as this will help a lot to determine a good time to buy/invest and the best time to sell them.

Oshosondy

legendary

Activity: 1414

Merit: 1118

...gambling responsibly. Do not be addicted.

Quote from: Chapsy on May 24, 2022, 11:19:36 PM

1. DON'T USE YOUR PERSONAL SAVINGS FOR INVESTMENT - as the saying goes, "invest what you can afford to lose," so set aside money for this purpose.

Use the money you can afford to lose to gamble or trade. Investing on altcoins is also gambling, using the amount you are afford to lose is advisable too. For bitcoin investment, you can wait for bear market and invest for like few years. Do you believe I have most of my money in bitcoin and stable coin? Fiat is inflationary.

Quote from: Munir575 on May 25, 2022, 02:13:06 AM

Investing in cryptocurrencies is not as easy as it seems and it can be risky. Another thing investors to avoid when it comes to cryptocurrencies is getting caught up in the hype. Before investing you should carry out proper research on the project don't just invest in a coin because everyone is doing so.

If I get you right, you are talking about investing on new projects? They are very risky. I prefer to invest on projects that are existing already and that they are among the first 100 in marketcap ranking.

Daniel91

legendary

Activity: 3374

Merit: 1824

Before each investment, one should be well informed about the market, make a detailed analysis, and only then start investing.
There should be a clear strategy and investment plan and a clear exit strategy.
One should beware of the euphoria of the media and other, inexperienced investors, keep their emotions under control and make rational decisions.
The crypto market has actually become very similar to classic markets and stock exchanges, and the rules are the same.
It is not realistic, nor should anyone expect it to be enriched here over night.
It takes a lot of patience and time for a concrete result.

Upgrade00

legendary

Activity: 2030

Merit: 2173

Professional Community manager

Quote from: Chapsy on May 24, 2022, 11:19:36 PM

Investing in crypto assets is risky, but it can also be incredibly profitable.

Investing in any asset is risky. Investing involves exchanging fiat or other assets for another you expect to appreciate in value over time, but no guarantee that this is going to happen; That's risk.

Quote from: Chapsy on May 24, 2022, 11:19:36 PM

If you want to obtain direct exposure to the demand for digital currency, cryptocurrency is a good investment.

Majority of cryptocurrencies which are created are bad investments; the market has been filled with so much scam and rehashed projects, finding out a right investment is quite difficult; much easier to stick to bitcoin. Luna has shown that even perceived established coins can fail due to lack of a definite project and actual decentralization.

I've seen a couple of threads over theoas days with this exact theme; advising on how to invest. It's good you do a quick search before making a thread.
Good attempt however!

Munir575

member

Activity: 546

Merit: 10

Investing in cryptocurrencies is not as easy as it seems and it can be risky. Another thing investors to avoid when it comes to cryptocurrencies is getting caught up in the hype. Before investing you should carry out proper research on the project don't just invest in a coin because everyone is doing so.

Chapsy

jr. member

Activity: 95

Merit: 1

Investing in crypto assets is risky, but it can also be incredibly profitable. If you want to obtain direct exposure to the demand for digital currency, cryptocurrency is a good investment.

Let me highlight the key points you should be aware of before investing:

1. DON'T USE YOUR PERSONAL SAVINGS FOR INVESTMENT - as the saying goes, "invest what you can afford to lose," so set aside money for this purpose.

2. PLEASE DON'T EVER BORROW MONEY - this is a mistake that many people make, and unfortunately, many individuals continue to make the same error by trying to make a significant profit like "e-sabong."

3. INVEST MORE IN CRYPTO STUDYING - As the saying goes, "knowledge is power." More knowledge improves our decision-making abilities, as well as our ability to choose the logical and ethical reasons on which we want to base our decisions. Problems are solved with knowledge. Knowledge improves our reasoning and problem-solving abilities.

If you have anything to contribute, please do so. Let us assist one another.

Topic: An advice for Crypto Investing - page 3. (Read 402 times)