I have been reading up many threads and posts across the internet reagarding investment/trading advice in Bitcoin/cryptocurrencies.
I am investing in cryptocurrencies since some time now. I will suggest the following,
- First and foremost, BITCOIN is not the only crypto currency available, there are many of them with fully functional and solid use case currently running in Production.
- Never follow the crowd, this creates FOMO, panic selling and loss.
- Always DYOR before entering into any coin. Its better to research a coin, study its usecase, try to understand what problem it is trying to solve.
- Stay updated, read a lot of news, posts and threads.
- Don't be here for quick profits, it will only cause mental trouble.
- Investment is always better than trading (Unless you have lot of time to continuously monitor a position).
- Always keep your coins in wallets instead of exchanges. Keep only those coins on exchanges that you want to trade/sell off.
- Open account on Twitter and follow influential people and subscribe them, read their tweets, try to understand what they want to say.
- Try learning charts and couple it with the news/latest update for the coin.
- NEVER EVER I repeat NEVER EVER GIVE YOUR PRIVATE KEYS TO ANYONE/ANYWHERE!!