Main Quotes Calendar Forum
flag

FX.co ★ Eight important rules of a successful crypto investor

back back next
News in Pictures:::2018-10-01T08:16:40

Eight important rules of a successful crypto investor

    Many participants of the cryptocurrency market lost their money because of its high volatility. However, interest in the digital assets market is still strong. Experts advise paying attention to a number of rules to avoid the loss of funds. They will help beginner crypto investors.

Eight important rules of a successful crypto investor

    Diversification is optional

    Many market participants consider it necessary to diversify the cryptocurrency portfolio, but this is not always needed, experts are sure. Of course, investing all the money in one asset is a dangerous step, and it also limits the potential profit. However, you also shouldn't change assets. Let's remember why investors diversify their portfolio? To increase income. Experts consider this approach to be very thought-out.

Eight important rules of a successful crypto investor

    Fix profit after selling

    Active growth of digital currencies will please any crypto investor, however, experts do not advise to rest on your laurels. Recall, cryptocurrencies are very volatile and at any time may become cheaper. Analysts recommend fixing profit in case of its sharp growth by selling part of the assets. Nevertheless, as long as the funds are not transferred to a more stable currency, for example, in fiat money, profits are considered invalid.

Eight important rules of a successful crypto investor

    Do not rush to sell cryptocurrency

    Most participants of the cryptocurrency market are guided mainly by emotions and not by the analysis of the situation and current market data. In the end, they may find themselves without profit. Experts caution against a momentary desire to sell or buy a digital asset. They believe that it is necessary to sell coins under the right circumstances which are determined by a variety of factors: from the target values of cryptocurrencies to news that may affect tokens' price.

Eight important rules of a successful crypto investor

    Choose the most effective way to buy and store coins

    The cryptocurrency market is still young and volatile, so there are no strict rules. Every crypto investor chooses the strategy that best suits him. Much depends on what kind of cryptocurrency you need. A digital asset will require a purse. If frequent transactions are not planned, then a hardware one will be more suitable. It's safer than keeping money on the exchange. Also it will help not to make impulsive purchases and sales.

Eight important rules of a successful crypto investor

    It is necessary to focus on fiat currencies

    Analysts caution: you shouldn't evaluate cryptocurrencies only in relation to each other. It is necessary to analyze their correlation with traditional means of payment. Determining the value of the coin, compare it with the fiat currency, for example, with the US dollar. In this case, the risk of making mistakes is small, but there will be a clear idea of how prices change in the crypto market.

Eight important rules of a successful crypto investor

    Do not give in to emotions

    Experts agree that trading in cryptocurrencies is a kind of "roller coaster". Any change makes the trader nervous, so it's important not to give in to emotions. Analysts warn: to succeed and make a profit, you need to ignore fears and focus on numbers. Fear of being a loser is natural, but you shouldn't succumb to it, because it is almost impossible to predict market fluctuations. If the currency seems promising and inexpensive, it's better to buy it, experts say.

Eight important rules of a successful crypto investor

    Important rule: "Not sure - do not buy"

    One of the best advice that can be given to a crypto investor is: "Don't risk money you can't afford to lose." Experts warn: even under favorable circumstances there is a chance of losing everything. But do not take this as a disaster. The next step should be thought-out tactics and confident actions. Fear of missing opportunity causes many to take risks and leads to collapse. If you think that you can earn money on a certain currency, you should keep it.

Eight important rules of a successful crypto investor

    Pay attention to the real number of coins in circulation

    The law of supply and demand works perfectly with cryptocurrencies, which makes it possible to manipulate this market. The more people buy a coin, the more expensive it is, and vice versa. A novice crypto investor needs to estimate the coin's value relative to the actual number of tokens in circulation. Analysts emphasize: the higher the number of coins, the more likely that the given digital currency will grow in price.

Eight important rules of a successful crypto investor
Share this article:
back back next
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...