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Cryptocurrency Investing
4 Things Smart Crypto Investors Don’t Do
And what they do instead
Now, if you’ve had your skin in the crypto game for a while, you’ve probably seen the upsides and downsides of the market.
You’ve seen how rookie investors crash and burn. You’ve seen the bullish spikes and the bearish dips. Not only that, but you know that cryptocurrencies are volatile. You just know buying digital assets is inherently risky.
And you certainly know there’s a ton of money to be made in the crypto market if you play the game right. Especially as cryptocurrencies, like Bitcoin and Ethereum, continue to seep into our mainstream culture and their popularity grows.
So, how do you balance the risks and rewards while investing safely in cryptocurrencies?
The answer is simple:
You become a smart investor.
There are many things smart investors do to make sure they’re getting the most out of their cryptocurrency investments. But there are also a few things smart crypto investors NEVER do.
In my humble opinion, these are the top four things that smart investors DON’T do with their crypto.
1. They don’t invest more than they can afford to lose
This is the #1 rule to invest wisely.
Whether it’s in crypto, stocks, or whatever asset fancies your interests. You should only invest an amount of money that you are okay with losing 100%.
This way, when the market dips (and it will dip) you don’t have to worry about it too much because you know you can afford to lose what you put in.
On the upside, if the crypto market is performing exceptionally well, then you’re making returns on the money you put in. Either way, you’re still in the green.
2. They don’t FOMO into investments
FOMO, or the Fear Of Missing Out, is a real thing.
It affects many people’s investment decisions. And FOMO doesn’t just haunt retail investors in the crypto industry. It’s everywhere.
