The Principles Of Crypto-Investing
Key things to consider when investing in crypto..
Invest in technologies that you know, and in projects in which you believe in.This will help you not to panic-sell when market goes down, and also aligns your principles in the money you invest.
You are the only responsable of the security of your wallet.The seed is the digital signature that gives you the right to reclaim your crypto.You should never lose it, and be the only responsable for it.
Investing in tokens is riskier than investing in crypto,Tokens are built on the top of a crypto.It’s also not a proof of ownership.Make your own research before investing in these kind of projects.
You Never, Never give your PRIVATE KEY to anyone, it’s yours and you should take care of it.
Your PUBLIC KEY,instead, is the adress of your wallet and it’s where you can receive crypto.
To understand if a price is high or low, always consider how much the maxium supply is.You cannot just consider the price alone.Also it’s useful to consider the price in Satoshis instead of fiat.
Investing in crypto is accessing to a widespread variety of digital assets.Choose the one you are most interested into, and learn the most about it.Considers the industry he is working on.
To check the current market capitalization,prices and charts, check Coinmarketcap.com
Read the whitepapers.If it is too difficult, then read articles on Steemit or Medium about the technologies you are watching out.The more you learn, the more you control your risk
Don’t leave too much money on the exchanges.They have your private key, and the risk they shut down due to regulations has always to be taken into account.Also Centralized Exchanges are susceptible to cyber attacks.A wallet is cryptographicly safe.
When logging in an exchange, always check if the protocol is “https”. The final “s” stands for secure.It means nobody can intercept the data you are sending to the server.
If you diversify in different markets, you minimize your risks and you can get the most out of this technology.Smart Contract platforms,Decentralized Storage,Anonymus Crypto and Decentralized Exchanges could be a good start.
Don’t be prey of the two cryptomosters: Fear of Missing Out(FOMO) and Fear Uncertainety and Doubt(FUD). Buying in the hype, and selling in the fear is the fastest way you can lose your money.Always keep cool and study the situation.
Follow experienced people on Steemit to read articles and on twitter to get news.
If you are investing a lot of money, buying an hardware wallet (like Ledger Nano S) it's one of the safest option
Always remember that this is not a financial advice.You are the only responsable for your finances.Always do your own research and don’t invest money you cannot afford to lose.Cryptocurrencies are a risky market, you should always be aware
diversification is the main key in any investing, warren buffets favorite method haha, cool post man!!