Hello guys I like to us to share our views on the best advise for someone that is just starting crypto currency! !!
1. Do not expect a huge profit. Cryptocurrency is unpredictable so the lower you expect, the less pain you'll feel if you lost.
2. Do not go all in. Due to unpredictability, going all in is a suicide attempt.
3. Read and research. Do not get victimize by scams and FUDs. Believe in facts, not in opinions.
4. Do not invest unless you are very sure about that coin or token.
5. Don't be stupid.
well i do not agree with some of this;
1.As an Investor i am expecting a huge sum of profit because i am investing my money into a long term unlike trader(investing and trading are different)
4.Do not invest if you can not afford to lose it,many project who has an existing product turned scam,right ? so even if you are sure about it,always know your bottom line.
5.Nobody stupid i believe but instead be smart and do not be lazy.
in conclusion,
if you want to start your journey in cryptosphere the first thing that you need to know is your bottom line,how much you can afford to lose and how can you recover it if you are losing it.
doing a research is your way to start it and never believe what other people says until you find it out by yourself.
I have counter argument on your arguments.
1. It is wrong to expect high profit when you are just starting. This mindset might lead to catastrophic loss. Yes it is wonderful to have a huge sum of profit when you invest, however, waiting too much could lead to a loss of opportunity. Set a target bracket of profit. Do not be greedy.
4. Yes, do not invest money if you cannot afford to lose that amount of money. I should've added this above but it seems it skipped my mind. I believe that this is backed by #2 and #3.
5. Oh c'mon. There are stupid people when it comes to money investment. That's why there are people whining about their loss when in fact it is mostly their fault.