in

Here are the 10 golden rules to ALWAYS follow when investing in cryptocurrencies ๐Ÿ‘‡

Here are the 10 golden rules to ALWAYS follow when investing in cryptocurrencies ๐Ÿ‘‡

1/ Invest with conviction โš”๏ธ

Don’t invest in cryptocurrencies if you don’t understand the revolution they represent.

Don’t jump from crypto to crypto. Pick a project you sincerely believe in because you’ve done your research. Be a wise investor.

2/ Don’t get into trading if you’re not an expert ๐Ÿ‘จโ€๐Ÿ’ป

95% of retail traders lose over the long term. Only trade if you are willing to put in the time to become an expert. Otherwise, abstain!

3/ Always analyze the tokenomics of a project before investing ๐Ÿ”

Valuation mechanisms, utility, distribution of tokensโ€ฆ All these aspects are crucial to assess the viability of a project.

4/ Always enter and exit in stages ๐Ÿ“ˆ

The goal is to optimize entries, exits and profit-taking as much as possible.

Use the DCA to buy your cryptos but also to sell them!

5/ Do the opposite of your emotions ๐Ÿง 

In most situations where the emotion is high, it’s often best to do the exact opposite (or do nothing to avoid FOMO).

6/ Taking profits is essential ๐Ÿ’ฐ

If you have invested wisely and your investment has been profitable, don’t forget to sell!

Don’t be the guy who made an x80 but didn’t sell while waiting for an x100

7/ Diversify your investments ๐Ÿ’ธ

Don’t expose too much of your capital to a single project. Diversify, but not too much. A maximum of 15-20 projects is recommended to keep control.

8/ Always keep some stablecoin aside ๐Ÿฟ๏ธ

You will always have times when you need funds.

Don’t be that person who is forced to sell a position they didn’t want to sell because they need the cash.

9/ Don’t lock up your cryptos for too long ๐Ÿ”“

Making your cryptos work is good, but don’t block them for too long. Seize opportunities when they arise.

10/ Don’t be too attached to a project

It is essential to avoid bias and not to become too emotionally attached.

What do you think?

Written by FijCFNf8Pz6X

Comments

Leave a Reply

Your email address will not be published.

Loading…

0
Win A Bitcoin

Bitcoin Button Game โ€” Click The Button To Win A Bitcoin