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Author Topic: WHAT YOU NEED TO KNOW BEFORE INVESTING IN CRYPTOCURRENCY  (Read 56 times)
Static420
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July 30, 2018, 02:55:07 PM
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A lot of people are investing in cryptocurrency and it’s becoming increasingly clear that it’s not just a passing fad. It’s also clear that it’s potentially very lucrative — though not without risks. So, before you invest in cryptocurrency, it’s a good idea to have a goal in mind and know how much you can afford to lose.

Not many people ask themselves why they are you investing? Most will say it’s to make money quick, while others will say it’s a future investment in blockchain technology. For others, it might just be out of curiosity. These are already very different reasons that should produce very different strategies.

For short-term gains, it would make sense to buy low and sell high — but there’s a lot more to it than that. You’d need to choose a coin with high liquidity, have a sense of risk management, and rebalance your portfolio every so often. Without a plan, you’re simply not going to produce good results.

Likewise, if you’re betting on future technology then you’re likely making a long term-investment, meaning you’re going to hold, or hodl. That’s what a lot of early bitcoin and ethereum holders did, but that doesn’t mean it’s the right strategy for you and your goals. And even this purpose still requires research. There’s a ton of investment opportunities, and many of them will not pan out.

No matter your reason, don’t just gamble your money away because you “feel” like it might do well. Have a reason for why you’re investing, how much you’re investing, what you’re investing in, and the timing you’re choosing to make the buy.

https://i.imgur.com/FWztHiO.jpg

Once you know why you’re investing, ask yourself what you want to gain. For example, how much profit are you looking to make? To meet your goal, how much time, effort, and research are you willing to put in? What is your stop-loss? Before you invest, know your objective and go about it rationally. Since most people won’t have much time to spare for research, you can use cryptocurrency trading tools to aid in the decision making.

Another thing to keep in mind — if you have experience trading stocks, don’t assume cryptocurrency trading will be the same thing. Cryptocurrencies are not stock. You can use tools like RSI (relative strength index) and ADX (average directional index), which are certainly helpful, but cryptocurrency is way more volatile and the market tends to be much more emotional than the stock market. Think FUD/FOMO: fear, uncertainty and doubt/fear of missing out.

If you can keep a level head, devise a plan and stick to it, while properly managing risks, then crypto investing might be rewarding for you. How involved you get should be dependent on your goals.

Remember, whether or not cryptocurrency is a good investment for you depends entirely on what you think the future will look like and not what the past growth of cryptocurrency has been.

(copy post) I think this information will help the beginners.
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Lagonda
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July 30, 2018, 03:22:37 PM
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What you need to know before creating a topic: Turn off the "Caps Lock" key. Capital title may help you catch people's attention but it's disrespectful.

Btw, your content was copied from here, why don't you mention the original source?
Static420
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July 30, 2018, 03:51:46 PM
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What you need to know before creating a topic: Turn off the "Caps Lock" key. Capital title may help you catch people's attention but it's disrespectful.

Btw, your content was copied from here, why don't you mention the original source?

Thank you for informing.I'll follow it next time.By the way I edited and wrote down that I copied.
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July 30, 2018, 08:09:44 PM
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Before you invest you hard earn money in cryptocurrency you must be ready to take risk ,and do lot of research on the coin you want to buy before you buy the coin.
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July 30, 2018, 10:03:47 PM
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Well, legends say that you should own at least one bitcoin, but there is also another one. You should try to own 21 Bitcoins and join elite club. What about this long lasting journey? This is on the part of the greed. Start with getting a mentor or guide to crypto world. People first...
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July 31, 2018, 02:09:17 AM
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Remember, whether or not cryptocurrency is a good investment for you depends entirely on what you think the future will look like and not what the past growth of cryptocurrency has been.

I cant agree on this summary. It also depends on real technical advancement like bitcoin did or any other copy of it that has no real added value to it.
That is most serious consideration for me.

Douglas_Rhoades
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August 02, 2018, 01:16:46 AM
 #7

A lot of people are investing in cryptocurrency and it’s becoming increasingly clear that it’s not just a passing fad. It’s also clear that it’s potentially very lucrative — though not without risks. So, before you invest in cryptocurrency, it’s a good idea to have a goal in mind and know how much you can afford to lose.

Not many people ask themselves why they are you investing? Most will say it’s to make money quick, while others will say it’s a future investment in blockchain technology. For others, it might just be out of curiosity. These are already very different reasons that should produce very different strategies.

For short-term gains, it would make sense to buy low and sell high — but there’s a lot more to it than that. You’d need to choose a coin with high liquidity, have a sense of risk management, and rebalance your portfolio every so often. Without a plan, you’re simply not going to produce good results.

Likewise, if you’re betting on future technology then you’re likely making a long term-investment, meaning you’re going to hold, or hodl. That’s what a lot of early bitcoin and ethereum holders did, but that doesn’t mean it’s the right strategy for you and your goals. And even this purpose still requires research. There’s a ton of investment opportunities, and many of them will not pan out.

No matter your reason, don’t just gamble your money away because you “feel” like it might do well. Have a reason for why you’re investing, how much you’re investing, what you’re investing in, and the timing you’re choosing to make the buy.

https://i.imgur.com/FWztHiO.jpg

Once you know why you’re investing, ask yourself what you want to gain. For example, how much profit are you looking to make? To meet your goal, how much time, effort, and research are you willing to put in? What is your stop-loss? Before you invest, know your objective and go about it rationally. Since most people won’t have much time to spare for research, you can use cryptocurrency trading tools to aid in the decision making.

Another thing to keep in mind — if you have experience trading stocks, don’t assume cryptocurrency trading will be the same thing. Cryptocurrencies are not stock. You can use tools like RSI (relative strength index) and ADX (average directional index), which are certainly helpful, but cryptocurrency is way more volatile and the market tends to be much more emotional than the stock market. Think FUD/FOMO: fear, uncertainty and doubt/fear of missing out.

If you can keep a level head, devise a plan and stick to it, while properly managing risks, then crypto investing might be rewarding for you. How involved you get should be dependent on your goals.

Remember, whether or not cryptocurrency is a good investment for you depends entirely on what you think the future will look like and not what the past growth of cryptocurrency has been.

(copy post) I think this information will help the beginners.
Excellent article. Indeed, we often do not understand the real cause of our actions and our goals. Is it worth stopping and thinking about what we really need and why?
If you have already found the answer to this question, then it is worth learning more about the investment object.
It is important to understand how Bitcoin works before investing money.
Bitcoin is still new, young, and it may take several months to understand how the ecosystem of crypto currency works. Because there are many "little things" that you should pay attention to (wallets, passwords, exchanges, etc.)
Spend some time to understand bitcoin, how it works, how to protect bitcoins, and how bitcoin is different from money. Good luck to all us!
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August 02, 2018, 02:27:56 AM
 #8

As we all know that, cryptocurrencies are still in the basic phase of development, there is a high amount of risk involved with it and hence it is all about self-responsibility due to decentralisation factor. One should do his own research and he is solely responsible for his actions in the crypto industry. There is no way to reverse the actions and hence investing time in understanding the stuff is crucial here. Even though cryptocurrencies are just another form of money, one should always take precautions with it.

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August 02, 2018, 03:38:38 AM
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Investment, not only cryptocurrency but also other types of investments, always have risks. A way to more secure your funds is invest in trust and high value coins such as BTC, ETH. Maybe it will not give you big profits but at least your funds will be safer.

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