A things u need to know before investing on Cripto

[Mikedozzy]

What are the 10 habits every cryptocurrency investor should follow to success?

Here are Jared the Crypto Friend's Ten Commandements of cryptocurrency.

1. Thou shalt do your own research. Don't just listen to me and a few influencers. Understand the crypto you are buying and why you believe in it. If you don't understand it you should not buy it.
2. Thou shalt educate yourself. There is a LOT to learn about crypto. Therefore, you should have a variety of sources that you read and listen to so you can understand the crypto industry.
3. Thou shalt understand how and why Bitcoin works. Every crypto is built on many of Bitcoin's initial ideas. Once you understand Bitcoin the rest are easier to understand as well.
4. Thou shalt utilize passive income. There are many great sources of passive income for cryptocurrency like proof of stake blockchains. Consider looking into Divi Project On Quora to learn more:.
5. Thou shalt use a crypto wallet. Do not rely on exchanges or other centralized services for holding your crypto. If you don't hold the keys to the Crypto you could lose all of your tokens when the exchange gets hacked.
6. Thou shalt not get scammed. You need to study common internet and cryptocurrency related scams. There are plenty of websites that will describe common scams. Do your homework.
7. Thou shalt not day trade. Unless you have great experience day trading stocks and Forex you should stay away from day trading. 95% of day traders lose all of their money. Long term holding off cryptocurrency is a much better strategy for 99% of the population.
8. Thou shalt not buy into FOMO. FOMO stands for “fear of missing out”. I have good news and bad news about missing out. The bad news is that you already missed out of lots of great crypto opportunities for instance you will never get to buy 1 dollar Bitcoin. And if you are chasing the big thing everyone is talking about you already missed the boat. The good news is that there is still lots of money to be made in the crypto space if you just look for solid opportunities.
9. Thou shalt not FUD. FUD stands for “fear, uncertainty and doubt”. When the market dumps it's easy to give into your emotions and sell to avoid more losses. If you did your research and have good reasons for holding a certain token you should not give into the FUD.
10. Thou shalt not stick to a failing strategy. Crypto takes a long time to learn and understand. If you find that your current strategy sucks don't stick with it. And never “throw good money after bad”.

I hope these commandments help you on your journey. If you want to learn more about crypto follow my Quora space:

 

[Augusta]

No 7 has been my own way if investing in cryptocurrency. I know from day one that I can't be a day trader because though money is made better through that means but it is highly risky if you are still a novice. I don't know about others but for me I can easily get traumatized if I lose all my savings in a day from a wrong investment. So I do more of buying or getting free crypto currency and holding it in my wallet. I buy mostly when the price is low during the bearish period then look out for the bull period to sell for a profit.

The crypto world is a good place to invest money but try and find out how it works so that you would be able to paddle your boat to a good destination which will be making good profit off your investment.