WHY PEOPLE GO BANKRUPT IN CRYPTOCURRENCY
Bankruptcy has been a major cases in crytocurrency these days. People are faced with losing all they have to crytocurrency and left with nothing. Some crucial things needed to be known before investing into crytocurrency which most people ignore before they invest.
WHAT TO INVEST ON This is a crucial question that needs a personal answer and conviction. Before investing, the need to know which coin to buy is very very important and shouldn't be overlooked. A lot of people put their money into a "just any coin" and end up losing a lot. One needs an understanding of how the system works and without the understanding, a lot of mistakes would be made.
-D.Y.O.R Doyr simply means do your own research. We shouldn't just put our money into any green light coin we see on exchanges. Researches are important means of knowing what we want to deal in. We get to know more about the coins we buy when we research about them. Joining communities with similar interest, joining blogging sites and other social networks improves the knowledge as we get to know the underground partakers of cryptocurrency. Those who know much about cryptocurrency are out there making their money and sharing opinions with other people but a step needs to be taken to be linked with them. The world is a wide one and we all meet on a social platform which has been made easier for communication.
- Never be a Rumour listener One of the ways to be successful is overlooking rumours said by people. Rumour is a quickly generated information which could be true or false. Listening to rumour could be a reason for a person's downfall in a short period of time. **"I invested because someone said" is not a genuine information. Investing may not be the problem but not being sure about it is. Being easily persuaded could be a disaster to ones investment life.
**DON'T BE EMOTIONALLY IMMERSED IN CRYPTOCURRENCY "Feelings are fragile" and it could easily ruin our patience when investing. Be sure to have a target before investing into crytocurrency to have a point you know you don't have to back out because of your feelings. Once feelings is involved in our investments, we get easily moved when we see a red on our coin and end up selling the dip. What I do whenever I see that we got into bear market is work hard, play games and watch movies. I do things that take away the thoughts of the losses I have suffered at the time then i think of buying more with the opportunity given. __ - Don't overinvest// invest only what you can afford to lose and ensure you do a follow up in your investments
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