10 rules of investing in crypto

[Bright0515]

since the first day I registered in the forum till date I have seen so many post of desperate newbies who want to invest in crypto but don't know what it takes or what to know before investing in crypto and I have really wanted to be among those to add my little contribution. Successfully I was able to achieve that by making this research in my leisure period to make sure the newbies and many others who have the intention of crypto investment may know what to do before investment.

Without talking further I will be pleased with my research by leaving a link here for those who it may interest.
 https://www.investopedia.com/investing-in-crypto-6502543#:~:text=Most%20financial%20experts%20recommend%20limiting,to%202%25%20as%20an%20introduction.

[BlackBoss_]

since the first day I registered in the forum till date I have seen so many post of desperate newbies who want to invest in crypto

People join this forum with different purposes that can be to learn knowledge like a Bitcoin developer, user or as a curious person who want to find more information and educational resources on Bitcoin for learning and for deciding what they will do next. Next steps can be joining this market with investment or ignoring it and moving on.

Investment is risky and you must know about risk, accept it and afford to lose money before investing.

I really don't see how members in Bitcoin forum can desperate or discourage you on Bitcoin investment. They probably said it with altcoins that are weaker than Bitcoin and investment in altcoins contains bigger risk than investment in Bitcoin.

Don't buy altcoins because they are top altcoins

[Alphakilo]

Without talking further I will be pleased with my research by leaving a link here for those who it may interest.
 https://www.investopedia.com/investing-in-crypto-6502543#:~:text=Most%20financial%20experts%20recommend%20limiting,to%202%25%20as%20an%20introduction.

It would be helpful if you provided a summary of each rule in bullet points and then added your personal opinion.

Many of us are cautious about clicking on links.

[BlackBoss_]

It would be helpful if you provided a summary of each rule in bullet points and then added your personal opinion.

I agree that OP need to put his own thinking on it rather than simply leaving a link to a third party resource and nothing more.

Investing principles from Charles Schwab.
7 Principles include

• Establish a financial plan
• Start saving and investing today
• Build a diversified portfolio
• Minimize fees and taxes
• Protect against significant losses
• Rebalance your portfolio regularly
• Ignore the noise

My input is the first step is most important. Establish your financial plan means you need to have plan for capital and risk management and think of capital source for your investment. What you will do with the investment capital and what capital you have beyond it for other purposes in your life especially in emergencies.

Many of us are cautious about clicking on links.

Investopedia is a legit site that is less risky than unknown website but your alarm is true and we should on click on links if not mandatory.

[Oshosondy]

It would be helpful if you provided a summary of each rule in bullet points and then added your personal opinion.

I agree that OP need to put his own thinking on it rather than simply leaving a link to a third party resource and nothing more.

Investing principles from Charles Schwab.
7 Principles include

• Establish a financial plan
• Start saving and investing today
• Build a diversified portfolio
• Minimize fees and taxes
• Protect against significant losses
• Rebalance your portfolio regularly
• Ignore the noise

My input is the first step is most important. Establish your financial plan means you need to have plan for capital and risk management and think of capital source for your investment. What you will do with the investment capital and what capital you have beyond it for other purposes in your life especially in emergencies.

This is investment in crypto and not investment in something like gold. Crypto are speculative assets. They are very risky. Only few like bitcoin are not that risky because they are less volatile. Some people consider altcoins investment as gambling. It is true because you need to be careful because your $100 can turn to $1000 or $10. Invest what you can afford to lose is very important to be included. But if it is bitcoin, out of 100% of my money, I can invest 30% after massive bear market. But if it is altcoins, I can not invest more than 5% which is the amount of money that I can afford to lose.

[GeorgeJohn]

Investment have principles that you should have know before you embark on it, but when people failed to indicate the terms and conditions of the principles of the investment is when they began to fall apart, on a serious note, we need to understand the kind of investment we are to venture into before we embark on it.

Before you diversify your investment make sure that your investment has already stand before you think of investment of any kind.

[Rikafip]

Seeing that this guy just shared someone else's link without adding anything of his own I thought that people will report it to be deleted instead answering but guess I was wrong.

Reported it for low value now, let's see how it goes even though mods are generally less willing to nuke it when they see people replying to it.

[Abu-Naim]

Without talking further I will be pleased with my research by leaving a link here for those who it may interest.
 https://www.investopedia.com/investing-in-crypto-6502543#:~:text=Most%20financial%20experts%20recommend%20limiting,to%202%25%20as%20an%20introduction.

It would be helpful if you provided a summary of each rule in bullet points and then added your personal opinion.

Many of us are cautious about clicking on links.

Exactly!
Since the OP is worried about the newbies asking such questions frequently, he should have taken his time to summarize the content in that link so that others can just read through and some of us here in the forum can add our respective contributions to it in case of the need comes.

Clicking links anyhow is not that good because of phishing attacks and others that is why the forum always advice us to avoid clicking links that we are not sure of. Advisably, you can summarize the content and add the link for reference purposes.

[Oshosondy]

Seeing that this guy just shared someone else's link without adding anything of his own I thought that people will report it to be deleted instead answering but guess I was wrong.

Reported it for low value now, let's see how it goes even though mods are generally less willing to nuke it when they see people replying to it.

If a post is of low quality, what would likely happen is that the post will not receive merit. If you make some explanations of your intention about the content of a site which you think would be useful to people and leave a link for people to read what you are talking about, that can be a low quality post in the way OP posted it but it is not worth deleting and it would not be deleted by the moderator because people can click on the link and read what OP wanted people to read. It is better than plagiarism but of low quality.

[Ndabagi01]

since the first day I registered in the forum till date I have seen so many post of desperate newbies who want to invest in crypto but don't know what it takes or what to know before investing in crypto and I have really wanted to be among those to add my little contribution. Successfully I was able to achieve that by making this research in my leisure period to make sure the newbies and many others who have the intention of crypto investment may know what to do before investment.

It is easier said than done. Most of the newbies are eager to dive into the bigger picture of cryptocurrency, failing to know that they need to have some basics knowledge that will guide them through owning a cryptocurrency. Without those knowledge, they can easily lose interest in crypto after been exposed to some illegal stuff that will cost them their money. For every newbie, they should be aware that privacy and security is the basis of owning a cryptocurrency in their wallet and if they’re able to acknowledge that and work towards it, they’ll be a good holder and won’t have problem learning other important things they need to know about cryptocurrency.