Are you one of the new players in the crypto market?
This article will tell you what to avoid to do not lose everything. Let's start!
Gaps in knowledge
It very often happens that a beginner who starts his adventure with cryptocurrencies without any education. You know almost nothing about wallet security and you are not at all interested.
The main thing for them is high profit. They are counting on a project where they have invested money to buy them. Moreover, they do not conduct an analysis and rely solely on the opinions of other people. In this way, very often it does not go directly to the cryptocurrency market, but to pyramids and scams.
Don't make the same mistake. Before buying, try to find out about the assets you want to invest in. Pay attention to its strengths and weaknesses. Get an interest in the company who is standing behind the project and its managers. Check for the appropriate competencies and how their career path went. Learn the basic principles of the market, read books, magazines and guides. Only when you get basic knowledge will you be able to make decisions.
A deceptive sense of choice
There is never a guarantee on your investment, that your ROI will be positive. If you've compared Bitcoin's current price over several years, and recognizing that its price is always just getting higher, then you are wrong. Cryptocurrencies are the most volatile assets. Their value fluctuates strongly, so you cannot assume that only profit.
Lots of crypto projects are not equal. Each new cryptocurrency has no chance of becoming a second Bitcoin. If someone is saying - he is wrong.
Therefore, it is important to consider what value this project brings to the market.
Too hasty decision making
Some people are so keen that they invest all of their capital in one or two cryptocurrencies projects. It often happens that they do not have the freedom of means of transfers, or worse, take a loan, 'cos they suppose that token will double its value. Such situation ends up tragically!
