Everyone who invests in any year, they think they are late. When in 2014 people started investing, they thought they were so late that the other people but every year the market in another 100% making you realize that this is the magic internet. And surprisingly money doesn’t always make sense.
Panic in the Disco
Crypto is extremely volatile, we get that but panicking while starting up I the world of crypto won’t do you any good. If you are somebody who has just begin investing in cryptocurrency or you’re just getting started, stay calm. Even if there is a dip in the market, don’t fuss about it. We assure you everything’s going to be alright.
We all know the crypto market is a huge roller coaster which goes either up or down at an extreme speed. If a force allows you to have 1000x returns on your investment, it might also create situations for you where you lose 90% of your money. There are plenty of articles that will scare you off and tell you how China has banned cryptocurrency. But look, even after banning the cryptocurrency we are still standing strong.
Late or just Fashionably Late??
Is there anything as ‘late’ in the virtual currency world? No, you can invest in cryptocurrencies whenever you want. When bitcoin does ‘correcting’ every few months it means that it drops in price dramatically to prepare for the next stream, buy in during one of these dips and trust us, you will be just fine. Buying during the dip has been the best investment strategy since 2009. But are you late?
FOMO a Disease.
FOMO trading is one of the most common causes of investors and trades losing their hard-earned currency. Nobody can ever be immune to this disease. However, you can also take cautions. Every now and then, you will be tempted to buy a coin that exploding but value nothing. It’s a hard impulse to resist but it’s for the best of you. The best way to buy a coin is to study its history, know its entire lifespan before you invest or trade for it.
Understand Before You Buy
Focusing on technical Analysis over fundamental analysis brings a greater return. However still researching on the coin is very important. Investing in coins solely based on their now-value is a huge risk. Don’t fall into it! Long-term investments are better than short-term investments as you can a have a greater return on them and are less risky to purchase. Everyone is after the immediate money, don’t be like them.
Margin Trading is Dreadful
If you haven’t heard of margin trade, run the opposite direction. it’s dangerous and make you risk everything that you have built over time. Margin trading is simple trading but with leverage. Now this means creating more money in a short time you have ever made in your life. Sounds tempting, right? But it isn’t. it’s like if you invest $100 into the margin account and get 3x your trading balance.
This means that you 3x trade your balance, now you have $300 but your position in the market goes -$100. If you make more money, you also lost more money faster than you could ever have in your entire life. Safe to say. Margin trading is not worth it and stays away from it!