The Do’s And Don’ts in Cryptocurrency Investment

In this market, every day new coins come into existence. Some come with significant and enticing offers than others. Some ICO’s are highly praised and may feel as if they are a scam. In such moments, you should not hold back. However, look for trusted companies with suitable deals for your investment.

A report posted by the Securities and Exchange Commission (SEC) tries to crack down on all the ICOs by sending cryptocurrency companies numerous subpoenas and requests for information. Already, three companies have had their assets frozen.

The Do’s And Don’ts in Cryptocurrency Investment

Only invest what you are willing to lose

You must have heard stories of people taking mortgages trying to invest in new channels. Do not do that. Like with all other investments, there is a chance that you will start making losses. To be safe, only invest what you can loose and not get into financial trouble.

Do not invest your emotions with your money

Research has shown that most people invest because they trust their guts. Once you feel like you are making the right choice, stick to it. Do not pay attention to headlines which will cause you to miss out because of fear. Panic selling is a reasonably common cryptocurrency term where people panic when the prices of the currency’s fall. During these times, they start selling their shares due to fear. These panic sales cause considerable loses and pain. Therefore be patient.

Make sure you read the whitepaper

When you check cryptocurrency polls, you will see that only 30% of people have read the whitepaper. It is mainly because these white papers are tedious and difficult to soak in. However, the white paper explains what the company is trying to accomplish and how their technology works. Therefore check for information.

Protect yourself from scam

Never click on random links on social media regardless of how impressive they seem. You will receive emails and inbox messages on social media. These will have Trojans that will hijack the website, steal your password and rob you of your investments. Protect yourself, so you do not incur such loss.

Nothing is free

Regardless of how much you would want to believe that there are good people out there, everyone has an agenda. Therefore when you see advertisements that people are giving away free cryptocurrencies, know that there is a hidden motive.

When it comes to market, there is no restriction of age. Anyone is allowed to invest regardless of age or even profession. Cryptocurrency ensures that anyone fits and meets the need of using the currency without restriction of any kind, thus making everyone good at receiving and sending payment as well as mining the money. Like common currency, the organizations value does rise and fall depending on how many people are using the coin and how the miners are producing the coins for exchange. It is also an added advantage that some rewards and blockchains help make the markets interesting to observe and use them regardless of which country individuals come from.

About the author

Harry Goyal

I am small Blogger from India and I am blogging since 2012 and I love to share stuff related to Blogging, Technology, Internet, SEO and also post reviews about some products.

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