6 Commandments for Crypto Investing..

[athena2007]

Here are 6 golden rules for Crypto Investing..

Lets see if you agree with any that are mentioned in the below article  and if you can add what you would look out for in investing in crypto .

I think they have hit the nail on the head with these 6 ..

1. Recognize the risk.

2. Don’t get sucked into a buying frenzy.

3. Don’t commit more funds than you can afford to lose.

4. Never borrow money to trade crypto!

5. Ignore the headlines!

6. Buy the best technology and adoption.

Theres more insight into these rules in the link below .

Source: https://cryptonews.com/exclusives/6-commandments-for-crypto-investing-2507.htm

[19PlutoBani85]

I agree strictly on this "Never borrow money to trade crypto!"

[athena2007]

8 minutes ago, 19PlutoBani85 said:

I agree strictly on this "Never borrow money to trade crypto!"

Yes well thats a great rule i mean you never know whats gona happen and if it goes down you are in  dire straits ,...

[xtinepink]

I can agree and will add don’t buy shitcoins

[Kate]

The other all makes sense but what does Buy the best technology and adoption. mean ? Technology ? 

[athena2007]

15 minutes ago, Kate said:

The other all makes sense but what does Buy the best technology and adoption. mean ? Technology ? 

well they are trying to say if u read the source is if you don want to invest get the best technology and bits....that go with it 

[Kate]

Just now, athena2007 said:

well they are trying to say if u read the source is if you don want to invest get the best technology and bits....that go with it 

I did read it but it still doesnt make sense. Take an eg : A person wants to buy 1 BTC and hodl so what he will need is 

1. A device 

2. Internet

3. Wallet 

4. Money 

You dont need to have a macbook to invest right ? or anything that is like have good specs or something 

[athena2007]

Just now, Kate said:

I did read it but it still doesnt make sense. Take an eg : A person wants to buy 1 BTC and hodl so what he will need is 

1. A device 

2. Internet

3. Wallet 

4. Money 

You dont need to have a macbook to invest right ? or anything that is like have good specs or something 

These are the two factors that will prevail over the long haul.

Right now, for example, two of the coins that score high in terms of our adoption index are Bitcoin and Ethereum.

Plus, two that are among the highest rated in terms of technology are EOS and Cardano.

What’s the bottom line? It’s true that wealthy investors are likely to emerge from this consolidation period reaping the greatest benefits.

But, it’s not because they tricked the small fry into relinquishing their positions. Quite the contrary, small investors have jumped — almost salmon-like — straight into the tendered nets of their own impatience.

What about the notion that the ocean is only big enough for the whales? Let me remind you that most cryptocurrencies are now trading at levels unseen since the beginning of 2017!

Are small investors buying? Nope. They are swimming for the exits.

Bottomline: Don’t fall for vainglorious promises of “ez gainz” — only to find that they have been sold a pup. There is no entry in the Trader’s Dictionary under “easy.”

However, it’s not difficult to stick to sound investing principles. All that it requires is a bit of discipline.

[wry]

I'd say the most important rule is research the asset and know what you are doing.  I've made money investing and lost money investing and not invested in things that have subsequently mooned - looking at you ETH - but I can always say I knew what I was buying into and understood what the asset was about.

Every trade has a counter party, that coin you buy is being sold by someone else and vice versa.  You either know what you are doing or you don't, and if you don't, you are almost certainly trading with someone who does.