what you must know before investing into crypto currency

[Dillonhebist]

Many  investors has challenges when it come to Crypto currency which is not getting caught up in the hype. before going into any investment or cryptocurrency market it is important to do your research.

Below are some information you need to know before investing.

Research __ Take your time and go into research to learn about the different currencies offered, block chain technology,  what cryptocurrency is all about and also read the project white paper and so on.

Ask yourself why you are investing__this is the first question you need to ask yourself before investing, many  investors are interested in investing in cryptocurrency because of cryptocurrency’s trendiness, the benefits, and because they are  decentralized network and so on. many investors have different reasons why they invest and what there goals, target, achievement is all about. So therefore you must have a reason why you are interested in investing.

Have knowledge about the crypto industry__ it is important, as an investor especially the beginners of cryptocurrency industry to have the knowledge of how the digital currency world works before investing.

Watch out for scammers__ avoid every hype an investment strategy that promise a huge returns of crypto assets and also beware of FOMO ( a Fear of missing out) this is a sense mostly created by scammers especially on social media and YouTube crypto influencers.think carefully before making investing.Always remember that there is no shortcut in making money.

Build your own investment strategy__every investors have different strategies on how they trade or invest their crypto currency.

Pick a good crypto exchange__look for a good cryptocurrency exchange that have a  level of liquidity, array of crypto assets, highly protected in security measure and also reliable.

Timing__always monitor  the crypto industry before making a move. after researching,  having knowledge about crypto industry and the determined which coin to invest the next step is to time your investment because the digital currency world move quickly and highly violatile. Timing is everything.

Protect and secure your private key__after all this, you most know how to protect and secure your crypto currencies. securing them against scammers and internet fraudster by using hardware wallet and security guides.

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[Lafu]

You forgot the most importanst rule when you try to invest in something or in an project !
Only invest that much that you also can afford to lose
And yeb research is also the most important thing for anything that have to do with money or Crypto.
Scammers everywhere , in real life and when money is involved.

[Eureka_07]

<snip>

There could be times that the investor can just jump in to investing into a project because of a certain news/events or other reasons that he set to his mind even without researching a lot about the project.
When it comes to myself, I always look for the documents of the project, such as their whitepaper, tokenomics, developers, etc.

Also I believe it is best to look on the utility of the token before making any investing decision regarding it.

[nakamura12]

<snip>

There could be times that the investor can just jump in to investing into a project because of a certain news/events or other reasons that he set to his mind even without researching a lot about the project.
When it comes to myself, I always look for the documents of the project, such as their whitepaper, tokenomics, developers, etc.

Also I believe it is best to look on the utility of the token before making any investing decision regarding it.

That's good that you always look at the documents of the project but there are some projects that is a scam and having a good documents which can fool those who didn't dig deeo into the project if it is a scam or not. Checking the documents alone is not enough to determine that the project is not a scam one unless the that you are introduced to is introduced by a legit company or events that have partnership with the new project. Op did miss something which Lafu mentioned that's also important to know rather than investing all money you have without thinking the consequences if you invest what you can't afford to lose.

[boyptc]

At least be familiar on how to use wallets.

Newbies should start with that when they're ready to invest in cryptocurrencies. They should know what are the legit wallets and what are those that they should avoid.

Having lack of knowledge about wallet management and the basic of it makes them easy target for those scammers that will send them phishing links where they might input their private keys.

[BIT-BENDER]

Firstly you must know never to trust in financial advices, most time you can't be sure about the source, or if it's a paid influenced advices, so keep your head straight. Then always make it a personal research, don't seek for help with creating your own key decision.
Learn from other, there is a high chance that if a project has failed severally if is going to fail again do okay unnecessary gamble with your funds.

Have a secured saving means for your asset, sometimes people don't lose more because the project they invested is bad but because they carelessly kept it.

Your investment should tally with your financial strength. I hate borrowing to invest in Crypto.

[coupable]

Luck of knowledge for the cyptocurrency wallets may cause disasters. I think this is fundamental for anybody using cryptocurrencies for investment purposes.

To know types of wallets and how to distnguish between all types is a main key that will help understand the concept of blockchain very well.

[Stalker22]

It is a good list of guidelines when it comes to investing in cryptocurrencies, but I do not completely agree with the tip about the crypto exchange to use. Of course, there are bad exchanges out there, so do not put your trust into some random crypto exchange just because it is the first one you have found. But, the level of liquidity and array of crypto assets is not always that important for an investor who does not want to trade frequently. Some investors might just want to invest some cash into a crypto and then wait till it appreciates. You can even buy crypto assets on an P2P exchange or directly from a person you know. Again, it is better to buy and hold than to trade frequently. Especially if you are an inexperienced investor and do not understand the risks.

[Yamifoud]

Ask yourself why you are investing__this is the first question you need to ask yourself before investing, many  investors are interested in investing in cryptocurrency because of cryptocurrency’s trendiness, the benefits, and because they are  decentralized network and so on. many investors have different reasons why they invest and what there goals, target, achievement is all about. So therefore you must have a reason why you are interested in investing.

This is what gives me more interest - and yes, it was an absolute need for us to know ourselves if we are ready for this or not. Coz we can't just slip on the thing we don't know yet and much more if we don't have the interest. We always have to know the reason and the being committed to it otherwise we just end up failing.

*it is always in a process and we have to start from the very first step
*Must have to trust ourselves
* of course, we already have the idea of what coin/s we invest and the exchanges to use so our time is focused on them.

[cryptoaddictchie]

Only invest that much that you also can afford to lose

This is the golden rule. Perhaps some are too overconfident when they invested and shock to know that its quite frustrating when you lose the value so much. People clinging to idea of easy money, well some made it seems so easy but the truth hurts and when they experience it firsthand then that will be their grounds for reality.

[Despairo]

It's better to not start investing and get educated yourself first. People thought Bitcoin always made insane profit, while the fact it's not always up and you can loss if you're not a strong holder. They need to understand first how Bitcoin work and why many people interested with Bitcoin besides the money part, this will make you understood why you trust Bitcoin and why you start invest.

[GeorgeJohn]

Actually you have to make consultation before adventuring into crypto investment, indecencies that you won't enter into wrong investment, and you have to know the advantages and disadvantages involve into the investment, if you are going into a particular coin for investment, at list you have to know the potentiality or the potential of the project before engaging yourself into it, so irrespective the coin you want to purchase, you have to purchase a coin you can lose without having much damage or going into pains.

[Daniel91]

Before making any investment, it is necessary to have some knowledge about the market and how to analyze the market.
It is always important not to invest emotionally but rationally, with a clear investment strategy and it is always important to have an exit strategy.
Investing should be understood as a very serious business and not as a leisure hobby.
The most important thing is to be patient and not expect quick results.
If you don't know anything about the crypto market, don't invest because you risk losing everything due to your haste and ignorance.

[ReactDOM]

Check more about the project you want to invest in, check the background of the team and developer, what products they offer to the market, use cold cash, and I hope you can invest in bitcoin to minimize the risk of loss.

[FirmWars]

Avoid investing money on crypto just for making more money, the first thing that newbies need to do is understand what they are trying to invest money on first, many newbies don't care about reading, they don't fully understand what crypto is all about, their greed won't let them as they want to make money fast.