Well, after you start in the field you must learn how to control yourself because rashness in one of the most issue that leads to significant financial losses in investment. Furthermore, if you are impatient, then I advice to stay aways for this field, because you will not succeed in this area, and regrettably, I see many investors has this problem. And the most important thing is how to deal with all situations ( pump, dump..) with an appropriate choice.
In addition to that, psychological problems are widespread in many people and always lead to bad consequences, so you must overcome your internal conflicts, and you should help yourself with yourself, just learn and understand the basics of crypto and how to analyse the market in every situation and then help yourself, and trust me, no one in your place.
Topic: What is the best advice for anyone investing in cryptocurrency? (Read 581 times)
I think the best advice for a newbie in crypto are:
1) Don't invest money which you can't afford to lose.
2) Do you own research
3) Read this forum
4) Don't panic.
1) Don't invest money which you can't afford to lose.
2) Do you own research
3) Read this forum
4) Don't panic.
As the old sayings go "don't invest what you can't afford to lose". Aside from that, you should do critical analysis and a thorough search before considering to invest in a particular coin. It might sometimes be necessary to take a risk.
You should always study the information on the cryptocurrency, chat on the forum, to learn new trends in cryptocurrency. It's like a new profession.
If there is interested in investing of his money into any of the crypto currency, then the first and the foremost thing which he needs to do is that he to sit back and study all the necessary things which he should know before even stepping into the world of the crypto currency. After that, he needs to make the right choice of the coin and then he needs to put in his best to make the right thing happen at the right time. 10 quick points I can think of:
1. Understand the entire market, existing projects etc
2. Don't follow hype, always trust your judgement on a project rather than some one elses
3. Always research the team, roadmap and claims being made
4. Don't get greedy, lots of decent increases are much more achievable than high optimism for 10x on 1 coin
5. Understand support levels, buying at a low gives you a lot more safety than buying mid pump
6. Learn some basic TA, if a coin appears over bought it usually is, if a coin is holding stable and under bought it's a safer bet
7. Follow the news on a project but be careful, many buy at signs of news and sell on or prior to the day of an event
8. Watch out for Bitcoin corrections, alts always follow, I prefer to sell back to BTC and buy at the dip when this happens
9. Always focus on SAT value over dollar value, if BTC pumps 10% and your SAT value goes down 5%, dollar value will still appear as profit, goal is to increase BTC holdings through increased SAT gains
10. Be realistic and understand price in relation to market cap and circulating supply, huge supply with a huge cap can appear "cheap" while a coin with a smaller supply and a low cap can appear more expensive, the market cap is your better indicator of room for growth.
This pretty much sums up what we need before investing in cryptocurrencies and I would add patience to the list because without it we can lose lots of money because fud seems to outweigh good news.1. Understand the entire market, existing projects etc
2. Don't follow hype, always trust your judgement on a project rather than some one elses
3. Always research the team, roadmap and claims being made
4. Don't get greedy, lots of decent increases are much more achievable than high optimism for 10x on 1 coin
5. Understand support levels, buying at a low gives you a lot more safety than buying mid pump
6. Learn some basic TA, if a coin appears over bought it usually is, if a coin is holding stable and under bought it's a safer bet
7. Follow the news on a project but be careful, many buy at signs of news and sell on or prior to the day of an event
8. Watch out for Bitcoin corrections, alts always follow, I prefer to sell back to BTC and buy at the dip when this happens
9. Always focus on SAT value over dollar value, if BTC pumps 10% and your SAT value goes down 5%, dollar value will still appear as profit, goal is to increase BTC holdings through increased SAT gains
10. Be realistic and understand price in relation to market cap and circulating supply, huge supply with a huge cap can appear "cheap" while a coin with a smaller supply and a low cap can appear more expensive, the market cap is your better indicator of room for growth.
And of course do not invest more than what you are willing to lose.
The best way to start imo is to take some spare cash and get some BTC and ETH anytime you consider a good entry based on your own strategies. While holding these coins you should research some of the top 50 coins and expand your portfolio if you have more fiat to invest. Basically holding BTC and ETH gives you enough leverage to buy into other coins
First of all, the price should not be too heavy, quick stop loss, good profit.
Don't be too greedy if you already understand the results that can be obtained in the crypto. but before getting into it just to understand the fluctuations that exist within the crypto so as not to be surprised if will invest in crypto. This is important because of a lot of new people who complain when they entered the last crypto sizable losses when the prices come down.
My advice to you is that you should not just jump into the cryptocurrencies investments without the idea of the risk and reward nature of bitcoin and others cryptocurrencies. The market is highly volatile and you have to know that without adequate knowledge you cannot trade it profitabily.
Before investing in any crypto, do some research about the coin and the project first. If you really believe it, then invest. Also, do not invest all of your money in it, just invest what you can afford.
A very few things to note. Always DYOR, take calculated risks, have an open mind, expect the worst from crypto volatility, don't put all your eggs in one basket, have at least 40% of your portfolio spread across the top 20 coins by CMC. And learn how to improve your portfolio value consistently.
Hello guys I like to us to share our views on the best advise for someone that is just starting crypto currency! !!
my advise if you are unexpert in trade so do not trade with high amount. first you invest lowest amount in market for trade if you want investment in market so first read about the project if the project developers are interested in increase the value of coin then invest in these coin without tension. don't be greedy for highest profit if you know you are in profit so then sell your coins on profit and don't invest all you capital in one coin some of percentage should invest in other coins.
You should start with one coin or a few. A little money too. You follow everything related to the coin, the news, the trends, you learn how everything works, what are the reason the price of your coin goes up or down. After some time, you can expend the number of coins and amount of money.
Always start low and never invest something you can't afford losing.
Always start low and never invest something you can't afford losing.
In my opinion, every trader should make their own strategy on trading. Also, I think it is really important to not trading with big amounts, because of the volatility.
Above it was said in various posts.
My view of this is this:
understand that this is a game in a very volatile market;
learn yourself and not look for ready-made advice on what to buy;
buy only what you clearly understand.
My view of this is this:
understand that this is a game in a very volatile market;
learn yourself and not look for ready-made advice on what to buy;
buy only what you clearly understand.
You have to start with a small amount, trade for 2 months, make a lot of mistakes and then you can start to increase the amount.
Trading is not a good advice for anyone investing in cryptocurrency. I suggest you should choose a good coin and start holding it. Holding is the best way for anyone who first join the cryptocurrency world without any knowledge or information Once they get confidence then they can start trading but the initial stage every one will make mistakes it's common, try to not repeat that same mistake again then you will become a good trader.
You have to start with a small amount, trade for 2 months, make a lot of mistakes and then you can start to increase the amount.
Trading is not a good advice for anyone investing in cryptocurrency. I suggest you should choose a good coin and start holding it. Holding is the best way for anyone who first join the cryptocurrency world without any knowledge or information Hello guys I like to us to share our views on the best advise for someone that is just starting crypto currency! !!
All right, this seems to be very broad. I guess you will have to start somewhere basic. You need to know the real idea and philosophy behind cryptocurrency. You need to read informative materials or watch videos about cryptocurrency and understand their contents. When you have done enough of this, you can easily start investing on it. Everything will go smoothly from that point onward.
First rule, don't panic. Everything you may read in the web can be real or not but it's better not to trust those negative news and don't get overhype with positive news. It's better to remain calm and neutral all the time.
Before investing to different coins, research it and invest with due diligence. It's not like after you buy those coins, you'll become rich instantly, no!
Before investing to different coins, research it and invest with due diligence. It's not like after you buy those coins, you'll become rich instantly, no!
You have to start with a small amount, trade for 2 months, make a lot of mistakes and then you can start to increase the amount.
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