Before You Invest In Crypto, Read This
1. Why Do You Want to Invest In Crypto?
Are you trying to invest because some of your friends make some million Naira through trading, it is important that you understand that crypto is not a get-rich-quick scheme. Learn the process.
2. Get the Hang of The Industry
Start by reading about cryptocurrency, get on YouTube and bury yourself in crypto trading videos. This is a great way to start before you signup for any trading course or mentorship.
3. Join Vibrant Crypto Community
A good community helps you build your trading muscles over time because it is a place where information about trading strategies is shared. Moving alone in an ever-evolving cryptocurrency market is a dangerous adventure, no one has ever made it alone in the industry. I am talking from experience. However, you need to stick with trading plans that work for you.
4. Consume Crypto Whitepapers & News Articles
A whitepaper is an informational content published by a crypto/blockchain company about their, products or services and future plans. Don’t be fooled by those who say that such a document is no longer useful, as a beginner, you need to read as many as you can. Don’t ignore the news, it says a lot. When you are interested in a project, download the whitepaper from the website and read.
5. Don’t Time The Market, Have A Strategy
No one can accurately time the market, you don’t control it. Instead, have an investment plan and stick to it. Buy coins when the market nosedive, and sell when the value of the coins increases.
6. Buy Old Coins
Coins like BTC, ETH, and DASH have proven themselves, don’t invest in crypto that has lesser than $1bn market capitalization.
Let’s talk in the comment section.