What Not to do as a new Crypto Investor

A lot of people dive into crypto without proper education, am guilty of that. I wish I asked for help and didn’t lose all the money I invested in cryptocurrency at that time. I didn’t educate myself first. I hope you don’t make my mistakes as a new investor.

One mistake you should never do first of all is borrow money to invest in crypto. That is not right at all. The market doesn’t care about you and will do what it likes. If you borrow the money, and you give the owner a specific time that you will repay the money, you might be lucky, the market might be bullish at that time but that is a 1 in 10 possibilities. What if the market is down and the owner needs its money back? You are in trouble. So never borrow money to invest.

Over expectations is what brings disappointment and this is common a lot in crypto. Anything can happen in crypto so it’s best you have a free rational mind to enable you not get disappointed too easily. Have it in mind that days will come where crypto prices will fall and there is nothing you can do about it. Except you want to sell your coins and take your loss. When moments like that come, they will be a lot of FUD noises, always drown out the noise and don’t overreact to the market’s whim. Don’t sell your potential winner coins too early.

Before investing don’t forget to always ask for help. Make research, ask questions be sure of where you are putting your money before putting it anywhere. Also don’t put all your savings in crypto because if you do so, when you need cash you will be forced to sell your crypto for cash and the price must have fallen to a price where selling it makes you lose.

Posted Using LeoFinance ^Beta