We can see that blockchain industry is growing continuously and a lot of investors are getting interested. They are becoming aware of the advantages of cryptocurrency and want to convert some of their savings into crypto assets. However I think investing on crypto is not that easy as it sounds. There are lot of risk involve in the process. Would you guys want to share what risks or difficulties investors may have to face while investing on cryptocurrency ?
Some difficulties and risks are as follows:
1. You have over a thousand of coins to choose from.
Though you can trim your options down by looking into the top coins via CMC, Coinstats, or Blockfolio.
2. There is no certainty that a coin will actually gain significant value. Therefore you may have to wait for years for a price increase or sell at a lower price to cut losses.
3. Prices fluctuates which is why some choose to day trade. By this may be quite stressful since you will need to monitor your portfolio on a daily basis.
4. Market crash. We need to prepare ourselves for this so as not to panic when it happens. Don't be so easily intimidated or influenced by FUD's or fake news because they will pull you down!
5. Too many scammers now a days. We need to be vigilant in choosing our investments. Don't be a victim!