Topic: Tips on crypto investment - page 2. (Read 361 times)

Continuous learning is very important, not just in crypto alone but also in any form of investment because this is a tool to help us grow and achieve our goal/plan. That is why we don't have to feel confident that we are good already because of a few achievements but must continue learning more and discover new things and a new strategies as this will help us to become more competitive.

 - must learn more about how to choose coins for profitable investment
 - must know more about managing funds
 - must know how to analyze and track our investment

We need to diversify our investment, as an investor I do advise people to invest in different sources so that they can make profits when other investment is not giving them money like the rest. Bitcoin is the only trusted cryptocurrency in the market that can stand strong even when other crypto projects are falling and crashing. We need to keep most of our holdings in Bitcoin if we are majorly crypto investors. This will make us have some confidence in the market and it will also given us some good profits if Bitcoin increases in price.

Bitcoin is the only asset that you can invest money on and block the rest off your life without worrying about anything, because Bitcoin always works in the end, profits? Be rest assured, confidence? Not only that but you will be able to worry less with Bitcoin.

Altcoins are way risky and I am not out of them either ways, that's because I can make more Bitcoin investing in altcoins, so the main reason why I have some altcoins is to end up having more Bitcoin.

Carefully select your altcoins, make sure they are not pump and dump and always take profit when they do so well in a bear market because it's important for a correction to happen and it's unavoidable.

This advice also applies to bitcoin - no exception so no one should be 100% sure of that. We've found a lot of worthless shitcoins on the market that may as well have lost their place of exchange due to being delisting by exchanges, so that should be the reason why they aren't 100%.

I wouldn't say bitcoin will be scam in the future - but something about its future is unknown to anyone including the possibility of failure. So your advice might be useful for anyone who is just starting their adventure in the crypto world.

In my opinion, the most crucial rule when it comes to investing in cryptocurrency is to only invest what you can afford to lose. The crypto market is known for its instability, and there have been instances where certain coins have plummeted to zero value. As an investor, if you hold such coins, you run the risk of losing everything. This advice holds significant importance for all investors, and it is essential to remember that anything can happen in the world of crypto. Therefore, it is advisable to adhere to this rule consistently and exercise caution at all times.

And that's why a sizeable amount of people end up going back to being bitcoin-only. Sometimes trying to find risky altcoins to buy isn't the right strategy — it's simply just buying and holding bitcoin, and try to increase your income through other means like jobs and businesses.

You should always understand that investing is a very risky business. And before investing your money somewhere, it is necessary to carefully conduct all the checks on whether it is worth trusting the project or not. If you are targeting altcoins, be prepared that your money may go to waste, even with a thorough preliminary analysis. This happens quite often, so if you are not ready to take risks, it is better to leave your choice on Bitcoin and be patient enough to receive your dividends after a certain time.

The different platforms now offer various sets of learnings and communities that can be used to gain knowledge, experience, and skills with the help of other people. Still, we cannot deny this kind of way has a risk. For example, scams and phishing, there are a lot of people pretending that they want to help you with your path to make a successful investor in the cryptocurrency world. Still, some of them want to steal those from you, so if there's money involved in learning seems like a red flag, don't get a sugar coat with those wants to be mentors on the internet. You could learn those too from yourself. The community you are in that would like to build a good member with a good way of learning and earning is one of the best ways to be more knowledgeable about those possible scams.

When you think you are in total control but you don't give up on learning you will later realize that you were never that smart in the beginning, you will be thankful to your will to learn more and that's why you can find out your faults.

I have some coins in my crypto portfolio and as time goes by, I end up selling the majority of those coins for better ones, they were good to my eye in the first place, and as time goes on I realize that they are not that good.

I was able to get better at this because of my will of learning more every day, don't ever feel like you are better, make sure you keep working on getting better and better every day.

What you mean by primary knowledge is probably the basic knowledge to invest or trade in crypto. It's true, if you only rely on the basics and don't develop your knowledge, you will surely be less than optimal in getting the benefits.

Because if you become an investor in the field of crypto, it is very obligatory to continue to do analysis, research, and learn about crypto, especially the crypto you are investing in. Because if you don't continue to dig up all the knowledge and information, it will definitely be difficult when you want to get benefits. But I'm sure, if someone is serious about investing in crypto, they will always continue to research and analyze the crypto they are investing in. Whether it's a beginner or an older one, because all of these people will definitely work hard so they can benefit.
It all depends on the decisions of each person who invests. Whether it's investing in lots of crypto (altcoins) or one of the highest quality cryptos like bitcoin, everyone will have a different opinion about this. Because when someone invests in crypto, they definitely have the same goal, which is profit. But there are various ways to get it, such as by trading in the short term, or trading in the long term. So your opinion is also true, for crypto investors who have a habit of making profits the way you do. But that's not necessarily true for all investors in crypto.

This is the advice that gets people to unnecessarily "diversify" their holdings into more and more likely-to-die projects — with people thinking they know what they're doing but in fact, they don't. The safest advice is to simply go bitcoin-only.

Someone will suggest hence different opinion about those coins and tokens. But at the end of the day its your call which or how many tokens you will buy at the market. For me Id buy tokens that I generally use or have purpose for me. Some arr hold for a long term venture while others are literally for short term goal or to made some profits. You could range your tokens or eggs. Doesnt mean that you need to hold some for a lifetime.

OP was in the right place right now joining here in the forum and we know OP received a bunch of opinions from our fellow members.
But in a group like social media which Telegram group should OP avoid, there are a bunch of fraudulent happening there like pump and dump groups.

I rather advise stay away from investing in random altcoins, but instead, choosing Bitcoin alone.
Bitcoin has demonstrated resilience over time and has gained widespread recognition as a store of value and a potential hedge against inflation.  It has shown strong performance historically especially every time when there is ATH will come.  However, it's still important to keep in mind that no investment is entirely risk-free not unless Bitcoin sell when your profit was there but there's no specific time.

Broadly speaking, Bitcoin is much better when compared to Altcoins, and the risks arising from Bitcoin are not too big compared to us taking Altcoins, even though both are places where they have risks, people will of course continue to use them, and actually if you want to invest in This altcoin also doesn't hurt as some of them are good.

Investing in a bunch of altcoins as a form of risk management is a very dumb idea, the idea “don’t put all your eggs in one basket” doesn’t work the same way in crypto. Without proper research and understanding you can invest in ten shitcoins and they all lose value. I think beginners should focus more on bitcoin, it has the least volatility compared to altcoins.

Invest in those coins that have high potentials to be profitable. In short, stick with bitcoin and just diversify your investments with stocks, gold and real estate. That way, if one investment fails, at least other investments have still chances to give you passive income.

What if all the altcoins you wisely buy to diversify your portfolio go down just like Luna, FTX, and other coins do?

I think instead of diversifying your portfolio with altcoins, you should focus on adding more Bitcoin to your portfolio since I am sure you believe that the crypto market is controlled by the BTC price.

Bitcoin is the safest investment one can make with less risk if borrowed money is not used.

It's fine to listen to you. But it would be better if you highlight the most important aspects of an investment. Point out the factors that make a person ready to invest. I'm also interested to know.

Not to Bitcoin.

I get this and it's more of being concerned and to diversify. It's a good strategy but you don't have to diversify a lot. I've seen people that have been following this strategy but then, when you get to see that strategy followed by them. You might be disappointed because they do follow a lot of communities and altcoins and it's not the type of diversification that you may want to see on them but on me, I don't do that.

If you are investing in something like cryptocurrency, staying atuned with every new information about it and it's development should be what you are committed to doing. It is not good to just invest in Cryptocurrency and just leave it there. Another thing I have noticed is that when making the decision to invest in Cryptocurrency, it is good to invest more in Bitcoins than any other Cryptocurrency. There are many Cryptocurrency and to a new person, they can make the mistake of thinking investing in another Cryptocurrency is better.