Are you following very basic crypto rules? - page 3.

Oshosondy

legendary

Activity: 1554

Merit: 1167

Gamble responsibly

Quote from: The Cryptovator on May 14, 2022, 03:17:31 PM

It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss.

I only apply this rule to trading, not investing. I have almost all my money in bitcoin and I convert some to stable coins sometimes and back to bitcoin. Is this risky? I think it is worth going for than holding fiat.

But the rules applies to altcoins because some altcoins are just shitcoins and a good one just like how Luna was before it become a shitcoin, we can say altcoins is like you are gambling so should treated that way. There is still nothing bad to invest 10% of my bitcoin on altcoins, out of 10% taken, some should be profitable, but this will be after a significant bear market which I am still expecting. After bull market, converting it from altcoin to bitcoin is not bad because altcoin falls significantly than bitcoin.

Quote from: BitcoinGirl.Club on May 14, 2022, 03:29:00 PM

Do not invest in pump and dump shit coins

To be serious about this, nobody expected Luna to be a pump and dump coin. I hope people should be wiser by this time not to invest on altcoins unless they see it as gambling and be treated as gambling.

Alisha-k

member

Activity: 840

Merit: 23

Luna happen to be the most overhyped shitcoin in my area. It crash was like a shock to many investor in know and many didn't see the dip coming. This just one of the pump and dump coin with selfish interest from developers and influencers. Having diversified portfolio and minimizing risk would have reduced the panic but unfortunately it is already late

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

Quote from: The Cryptovator on May 14, 2022, 03:17:31 PM

1. Don't invest in crypto if you can't afford the loss.

This should be; don't invest in anything more than you can afford to lose. Investments bear a certain level of risk, with the possibility of losing your investment. Do not put in more than you can spare.

Also, do your damn research. Not every asset or currency should be bought; that's not diversification, it's simply creating more ways you can get burned out.

BitcoinGirl.Club

legendary

Activity: 2800

Merit: 2736

Farewell LEO: o_e_l_e_o

Quote from: The Cryptovator on May 14, 2022, 03:17:31 PM

1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.

Do not invest in pump and dump shit coins

The Cryptovator

legendary

Activity: 2282

Merit: 2196

Signature Space For Rent

The current hot topic is Luna. It's very sad that a lot of investors bagger due to Luna drama. The more sad thing is some people committed to suicide. Even in my country, it has happened. I will say think kind of situation occurs due to not following two very basic crypto rules. I know everyone knows these rules, but want to share again and remind you what would happen if you don't follow these rules.

1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.

It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss. And shouldn't invest in one coin all of your savings. When you invest multiple coins that won't scam you at the same time. So follow the very basic crypto rules and don't commit suicide.

Topic: Are you following very basic crypto rules? - page 3. (Read 296 times)