Wenbing (OP)
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There is gold in volatility..
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March 03, 2021, 05:56:29 AM |
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I will be delivering a lecture or an address by weekend on a topic which would be part of the Crypto book am working on. The topic i will be teaching is "Crypto Risks: How to Minimize risks in Crypto business."
I would want to focus on trading and Investing. But, i want to know what you think on the following;
1. what are the major crypto risks that one should know and avoid by all means.
2. How do we tackle these risks or are there way to tackle the risk?
We can use btc trading and investing as a case study.
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davis196
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March 03, 2021, 06:31:08 AM |
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It seems to me that you want somebody to spoonfeed you and give you all the information you need without any effort on your side. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) The biggest crypto risks in trading/investing are: 1.Choosing a crypto exchange platform that isn't legit. 2.Look at the first rule. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) If you don't plan to start crypto trading,then buying and HODLing BTC in your own wallet is your best bet. In that case,keeping your private keys is the most important thing.
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cryptoaddictchie
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March 03, 2021, 06:43:51 AM |
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1. what are the major crypto risks that one should know and avoid by all means.
Here are on my mind about those risk on trading and investing on crypto. Be ready to lose some money cause price could go down really hard. That means you should be emotionally ready when this happened cause one risk is losing your money. Also, aside from devaluation of the price of the coin you traded. Chances that you bought a rug pull or project that will exit scam later on at a certain period of time. Make sure you are entering a legit one.
Just be ready for any associated risk cause there are fud that could somehow endanger the possibility of falling down.
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mk4
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March 03, 2021, 07:04:04 AM |
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Especially when talking about cryptocurrencies in general and not specifically with bitcoin, the "diversification" misunderstanding. People tend to think that putting your money solely on bitcoin is "risky", so what they do is "diversify" to other cryptocurrencies(and mostly shitcoins) lol. True diversification is allocating funds to other assets classes like stocks, real estate, and etc.
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sunsilk
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March 03, 2021, 07:14:36 AM |
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1. The major risk as for investing in bitcoin would be its volatility. When people hear success stories of people who have profit in bitcoin ignores this fact.
2. There is no way to avoid volatility for bitcoin but you can reduce the risk that you will take through buying ans holding it. Desiring to day trade will put you more into risk.
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hd49728
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March 03, 2021, 07:27:34 AM |
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1. what are the major crypto risks that one should know and avoid by all means.
Too many projects, coins, tokens to follow up and make your decisions. You are overwhelmed and hard to make good choice. Money comes to you too easy but "easy comes, easy goes". It is hard to protect your capital but it is harder to protect your profit. The crypto market runs 24/7 so it is challenging to control yourself and stay outside the market for hours, days or weeks. Crypto market has no circuit break, no limits of change margins in a day. You can be rekted very quick. 2. How do we tackle these risks or are there way to tackle the risk?
Don't diversify to many projects. Choose less than 10 projects for your portfolio. Don't bet all your capital or capital + profit to one investment, one trading order. Don't look at the chart every day or every hour, you will not be able to have a fresh mind and won't be able to stay outside the market. Don't use leverage trades. If use them, don't let your positions open in the midnight.
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Lorence.xD
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March 03, 2021, 07:31:40 AM |
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It seems to me that you want somebody to spoonfeed you and give you all the information you need without any effort on your side. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) The biggest crypto risks in trading/investing are: 1.Choosing a crypto exchange platform that isn't legit. That is how writers take their inspirations for writing though, they are spoonfed information and with that information, they will be able to formulate a prose or a paper that they can share to other people. I don't like OP's idea of getting information because it is a non-fiction kind of book but at the least he/she has the balls to ask us those information, no? Your number one isn't a risk because you have a choice and you can ask for people the advice on a certain exchange and find other exchange that is more trusted, it is more of an error on the person.
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Altcoinsintel
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March 03, 2021, 07:44:37 AM |
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It would be great if you explain what you mean by "crypto business". Is this about creating a business that will be dealing with cryptocurrencies and how exactly will this be? Investment fund, promotional, a business like a shop that will be accepting cryptocurrencies? Or perhaps you named the crypto field and our individual investments and trading as "crypto business"? This requires explanation as the risk will be totally different if you are investing/trading as an individual or if this is about a company that plans to expand in this field by providing services. Also if this is about a real business then it depends on the field you will choose, there will be different risk if this will be about finding investors and providing custodial services, or if you will try to open a blockchain business, a cryptocurrency under some kind of centralized management, development, marketing, or anything you select.
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Jating
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March 03, 2021, 08:07:03 AM |
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1. Tell them that crypto is a 'speculative asset', so it's going to be very volatile, movements vary from time to time. You can show them bitcoin's price movement, you don't need to go further, the latest dip we have could be a good case, (from $57k-$45k in less than a week.
2. You can only mitigate risk at some point, others hedge it to USDT, majority just HODL, while there are weak hands who chooses to sell when the price is going down.
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Coinsfera
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March 03, 2021, 08:43:59 AM |
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I will be delivering a lecture or an address by weekend on a topic which would be part of the Crypto book am working on. The topic i will be teaching is "Crypto Risks: How to Minimize risks in Crypto business." I would want to focus on trading and Investing. But, i want to know what you think on the following; 1. what are the major crypto risks that one should know and avoid by all means. 2. How do we tackle these risks or are there way to tackle the risk? We can use btc trading and investing as a case study.
1. stay away from the pump and dump scenarios. 2. do not invest without researching, there are lots of scams in bullish period 3. do not rely on others opinions, do your own research 4. crypto traders will sell immediately if they think that their crypto is topping, and be careful with that 5. many cryptocurrencies are very volatile and decide carefully before investing
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BlackHatCoiner
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Bitcoin is a royal fork
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1. what are the major crypto risks that one should know and avoid by all means. The major risk on cryptocurrencies is misinformation and lack of knowledge. This is generally what one should know. Every trader must fully understand what he/she's into. There isn't better investment than knowledge especially on this sector. The investor must understand that if he/she goes with the traditional-non-custodian way, there won't be such thing as "support" for refunds. 2. How do we tackle these risks or are there way to tackle the risk? We educate ourselves and who knows. Maybe trading isn't our thing. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Kelvinid
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March 03, 2021, 09:01:58 AM |
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1. The major risk as for investing in bitcoin would be its volatility. When people hear success stories of people who have profit in bitcoin ignores this fact.
2. There is no way to avoid volatility for bitcoin but you can reduce the risk that you will take through buying ans holding it. Desiring to day trade will put you more into risk.
Indeed, right? But, I actually love how the volatility works for us, it helps more than what we think. Volatility is not a thing we worried about, what we worried more about is to miss this opporunity because there is no coming back. We might not able to see 1BTC= $10k or $20k again in the future. People might afraid of this, maybe they should afraid if there is no movement on their investment. Because the truth is that, there is money in this kind of trend, up and down, it gonna be easy to manage if we are not emotionally affected to it.
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repear7
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March 03, 2021, 09:20:26 AM |
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I believe cryptocurrency trading has high market risk. And, I also believe cryptocurrency trading is best way to make money from cryptocurrency.
Risk will be doubled if you invest money in scam or demand less project. I always research the project background, Product and future plan before investing a penny.
And If you want to invest in only btc, then buy btc at right time and hold. Then sell at right time.Market analyzing is important here.
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ubercool
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March 03, 2021, 09:56:18 AM |
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As many here observed, the most tricky part about using crypto at a business would be the volatility of the coin. Therefore the solution is to use the crypto and your local exchange or bank together and convert the crypto at the same time you receive it. If you want to trade then trade it in the free time, but not with the business money, which you might need to buy back the store stocks. I have seen many intermediary entities doing this for small and medium-sized businesses.
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bittraffic
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March 03, 2021, 10:22:22 AM |
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Major risks are often just what kind of market is the current market so if you get in crypto trading while there is a bear market, it's going to be bad timing for you. Not knowing the market trend. The charts will always tell you what is going on, it pays to learn it. If you go into crypto trading without knowing this, all things after it will result in bad decisions. Keep in mind to just trade on BTC/USDT, this is where traders cram together.
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XZERO1
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March 03, 2021, 10:47:23 AM |
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1. what are the major crypto risks that one should know and avoid by all means.
-You should know some basic technical stuff before entering this space, or at least you should know what are private and public keys and what are the best ways to store your crypto and you should have some experience with sending transactions here and there to get some grasp on how the whole thing works. -The other one is that it's volatile in price and you should in no way go overboard on investing in crypto and put the money in it that you can not afford to lose. 2. How do we tackle these risks or are there way to tackle the risk?
Well, as crypto gets more user friendly which is expected to happen as more time passes, you could expect it to be easier to understand for beginners so the first risk that I mentioned will be eventually minimized. As for the second risk, you can't do that much about it, and the only thing that could have some impact on that would be when more money flows into crypto market, more liquidity and volume usually leads to less volatility and again therefore minimized exposure to risk for investors.
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maydna
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March 03, 2021, 10:57:30 AM |
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I will be delivering a lecture or an address by weekend on a topic which would be part of the Crypto book am working on. The topic i will be teaching is "Crypto Risks: How to Minimize risks in Crypto business."
I would want to focus on trading and Investing. But, i want to know what you think on the following;
1. what are the major crypto risks that one should know and avoid by all means.
2. How do we tackle these risks or are there way to tackle the risk?
We can use btc trading and investing as a case study.
The major risk of crypto investing is the volatility of the price. When we talk about price volatility, we should understand that we need to the responsibility for our money and know how much money we should use to invest in crypto. We can't avoid the price volatility, and we should accept it because the crypto investment is not the same as investing in gold or the other thing. But if you use bitcoin as an investment, you should not panic because of the volatility because you need to set how long you will withdraw your investment. And before the time to withdraw comes, you need to stay calm with the volatility and not thinking about fast selling because of the down of the investment value. Perhaps, that is the way to prevent the risk, but I am sure there are more ways that you can use to prevent the risk, and that will depend on our experience to handle the risk.
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kotajikikox
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March 03, 2021, 11:19:46 AM |
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1. what are the major crypto risks that one should know and avoid by all means.
First and foremost is the Volatility , people must understand that there is no permanent growth , instead crypto coin will always goes up and then down , or vise versa. 2. How do we tackle these risks or are there way to tackle the risk?
Tackling the risk is just a formality of our investing , but the thing is like what the majority of the investors that lives here? "Invest what you can afford to Risk" than term explains a lot for a knowledgeable person. We can use btc trading and investing as a case study.
Well Use BTC for best example about the transaction fee as it is increasing mostly, and Use low fee coins like Ripple or Dogecoin for another option and ideas.
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gregy45
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In my opinion, the main risks are as follows:
1. Theft or loss by negligence If an attacker gets access to the investor's private key, they can steal absolutely all the contents of the digital wallet. 2. Lack of security One of the biggest risks is that the Bitcoin virtual currency is not backed by anything. Absolutely all national currencies of different countries of the world are provided with state assets. Electronic currencies are backed by the assets of the companies that created them. 3. Risks related to cyber-security Hackers can hack into virtual currency trading platforms. For example, in August 2016, one of the largest cryptocurrency exchanges, Hong Kong's Bitfinex, was hacked and stolen 119,756 BTC, or $ 72 million, which led to an instant drop in the Bitcoin exchange rate by 23 percent. 4. Virtual Currency Fraud Since the creation of Bitcoin, its adoption has grown exponentially, making it the most popular virtual currency used around the world. Unfortunately, with the growing popularity of cryptocurrencies, the number of scammers who want to make money on it also increases. 5. Lack of consumer protection The unpleasant fact is that Bitcoin does not provide any consumer protection. The completed transactions can no longer be undone. All you can do after a failed transaction is trying to convince the recipient of the funds to voluntarily return them. This is a consequence of the fact that there is no intermediary guarantor, as in the case of bank cards. 6. High volatility Fluctuations in the value of Bitcoin, in general, are almost unpredictable in the short term, and this adds to its riskiness. Financial experts can predict the value of the dollar, euro, and other real currencies or stock quotes relatively accurately. 7. The risks associated with the development of technology The technological component often develops very quickly, and sometimes even uncontrollably. Everyone knows that Bitcoin already has and continues to have a huge number of competitors almost every day. Although Bitcoin is the most recognizable and popular cryptocurrency, there is still a very real technological risk that another more advanced virtual currency will appear. Investors simply may not notice the moment when their virtual funds lose their real value. 8. Regulation of the currency Today, each country has its own approach to regulating cryptocurrencies. The lack of a single well-thought-out system for regulating cryptocurrencies only increases the uncertainty factor regarding their future. Regulators in many states are concerned that Bitcoin and other cryptocurrencies may be used for speculation, drug trafficking, money laundering, terrorist financing, and other illegal transactions. With the growing popularity of cryptocurrencies, the state authorities of many countries are beginning to actively come up with various legislative initiatives to regulate the turnover of Bitcoin and other virtual currencies. 9. Taxation of virtual currencies This factor follows from the previous one. Investors who are going to invest in cryptocurrency should also take into account that there is considerable uncertainty regarding the taxation of the circulation of virtual currencies in different countries. In some jurisdictions, cryptocurrencies are considered an asset; in others, they are not. 10. The problem of network scalability The problem of scaling the Bitcoin network has not yet been fully solved. Network bandwidth has long been a concern, and the growth of commissions makes small transactions not quite profitable (for example, transactions that are associated with the sale of BTC mined on Bitcoin cranes), and transactions with a large commission are also increasingly "stuck" in the network. Of course, they have been working on a solution to this problem for a long time, but so far none of the proposed options is an ideal solution. And if the problem of network congestion worsens, it will affect the position of Bitcoin as a payment instrument.
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jerrison
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March 03, 2021, 12:50:06 PM |
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The major risk in crypto business for me is lacking informtion. You see, the volatility in the space ahs brought about the need for people to be kept abreast with the latest occurences and events as it concerns their portfolios and timeline of roadmaps. If you hold a bag of a particualr project and refuse to keep updates of that project, you might wake up one day only to find out that the roject has migrted to another possible chain thereby leaving you out(that is an automatic burnn on your tokesn and in turn lost money as an investor). you actually will not hold anyone accountable as there is every tendency that announcements were made and enough time was givento remdedy or act on whatever information was disbursed.
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