A piece of advise on price volatility for novice crypto traders
First of all: welcome to crypto! Buckle up and enjoy the ride, cryptocurrencies and blockchain technology are exciting pieces of fintech. As you are now undoubtedly aware, the prices of coins are subject to a tremendous amount of volatility. This might seem stressful at first, but if you remember these rules of thumb you'll be ok:
• Never invest more than you are willing to loose.
• You can't make a loss if you don't sell (in case of doubt, Hodl)
• Always do your own research before investing.
• Invest in an ICO? Research even more! • Invest in what you believe in, and dont believe the hype.
And to help you sleep at night, look at the bigger picture. Instead of bookmarking the coinmarketcap homepage, bookmark their page with the 1hr, 1 day and 1 week overview side by side which can be found here:
See? This puts things in a bit of perspective. Don't panic sell and never FOMO!
Good luck and happy trading!
[link] [comments]
Read More
