I realize that there are quite a few people who are not well-equipped for personal financial knowledge when entering the cryptocurrency market, today I will share with you my personal experiences (This is just Personal experience is not complete, please ignore if something is not right).
Rule #1: Invest when you understand it
There are many people who easily believe in others' words. Even though they do not understand it, they are willing to spend a lot of money to invest in it, even though they do not know anything about it. This is probably the biggest mistake. So, before you decide to invest, you should find out what it is?
Rule #2: Do not Trust Others
There are a lot of trappings in this market. If you are a newbie, you usually have the habit of listening to news from others, or listening to advice from someone. They tell you to give them money and they will pay you a daily or monthly interest. this is not good. You better manage your money yourself. Do not give it to anyone.
Rule #3: Do not invest in promises
I was in this situation. These are the mlm projects. They draw a bright future prospect for their project. They promise you their coin will hit a certain price in the future. Be careful with such promises. The rise in the price of a penny depends on the market, not on the development team. Stay away from projects that have a target price. Maybe that's just a scam.
Rule #4: No Fomo
Be greedy when others are scared, and scared when others are greedy. Investors only care about the true value of the project. Rather than judging crowd psychology, they try to understand the business, leadership, and prospects of the business in the future. This experience is very confusing, a lot of emotion when applied.
Rule #5: Be patient, careful and assertive
When the opportunity comes, you have to decide to take it (easy to say but hard to do). Sometimes the wave ends, and again, the opportunity comes and goes, you can ignore many opportunities in the long run, but do not worry, there will be another opportunity and you just need patience. and decide when the opportunity comes.
Epilogue
With newcomers, Do a good job of your day. That brings in regular income for you. If you want to spend some money to invest in crypto, look carefully. For professional investors, I dare not give advice to them.
Thanks for reading !
Sorry because english is not my native language.
I am quite interested in point 5, there you mention that being patient, careful, and assertive and that is true because in my opinion we must be careful in carrying out any activity in the crypto world, but on the other hand a true investor must have determination in making decisions, because if we are in a position of doubt then we will forever lose and will never get experience in the crypto field. Rule #1: Invest when you understand it
There are many people who easily believe in others' words. Even though they do not understand it, they are willing to spend a lot of money to invest in it, even though they do not know anything about it. This is probably the biggest mistake. So, before you decide to invest, you should find out what it is?
Rule #2: Do not Trust Others
There are a lot of trappings in this market. If you are a newbie, you usually have the habit of listening to news from others, or listening to advice from someone. They tell you to give them money and they will pay you a daily or monthly interest. this is not good. You better manage your money yourself. Do not give it to anyone.
Rule #3: Do not invest in promises
I was in this situation. These are the mlm projects. They draw a bright future prospect for their project. They promise you their coin will hit a certain price in the future. Be careful with such promises. The rise in the price of a penny depends on the market, not on the development team. Stay away from projects that have a target price. Maybe that's just a scam.
Rule #4: No Fomo
Be greedy when others are scared, and scared when others are greedy. Investors only care about the true value of the project. Rather than judging crowd psychology, they try to understand the business, leadership, and prospects of the business in the future. This experience is very confusing, a lot of emotion when applied.
Rule #5: Be patient, careful and assertive
When the opportunity comes, you have to decide to take it (easy to say but hard to do). Sometimes the wave ends, and again, the opportunity comes and goes, you can ignore many opportunities in the long run, but do not worry, there will be another opportunity and you just need patience. and decide when the opportunity comes.
Epilogue
With newcomers, Do a good job of your day. That brings in regular income for you. If you want to spend some money to invest in crypto, look carefully. For professional investors, I dare not give advice to them.
Thanks for reading !
Sorry because english is not my native language.
