I have been investing in CRYPTO and BITCOIN the granddaddy of cryptoland since 2009. I have made just over 7 figures, and as an investor and blockchain expert, I can tell you this world is not for the faint of heart.
HERE ARE THE TOP 10 TIPS FOR CRYPTO CURRENCY INVESOTORS :-
Bitcoin is risky, however I doubt its going to fail like people out there keep saying. Infact larger hedge funds and institutes are going to get involved in BTC later in 2018, and its this digital financial landscape right now is a trillion dollar asset class that billion dollar hedge funds are biting at the bit to get their piece of the pie. This could cause huge upward price moments in the future.
Join a local crypto trading or investment group in your area. I am involved in this as a leader in my local area and help and train people. But as they say its always wise not to invest alone. I have made some serious money by talking ideas, and coins over within my local groups and made off with huge profits this way. There has been countless times I decided not to make an investment because I talked it over with others first!
Realize your risks, never invest your rent money and shopping money, and always put in money you can afford to lose. This is a volatile world and you can see since the recent drops in bitcoin they are fast, swift and violent and can happen without warning.
90% of Daytraders who trade bitcoin, FAIL. Don’t Become A Crypto Day trader! That’s Right! The real stats could be more like 95% failure rates. Its a fast moving world and for those that do not know what they are doing, and do not use stop-losses as part of their trading strategy, end up blowing up their account and losing 100% of the money they start with. You are must better off incorporating longer term hold strategies with bitcoin or other crypto coins.
HODL - This was a term that was accidentally used on a meme by a novice bitcoin investor who spelt “HOLD” bitcoin wrong. Since that time its been a cult like saying in cryptos to buy a coin and hold onto to it longer term. [or HOLD ON FOR DEAR LIFE] Basically you cannot stay awake 24 hours a day to trade the rapid ups and downs in bitcoin to make your fortune, and there are numerous stories of people putting on a few hundred dollars on bitcoin, HODL it for a few years to make a FORTUNE in this space.
Do not listen to FEAR and DOOM [know as : FUD] people who know nothing about crypto who spread fear and doom about something they know little about. I have literally lost 100’s of thousands of dollars, listening to morons without a clue , and sold out of winning positions because I listened to people who can hardly even spell “bitcoin” they are all around, and my best guess is they are just pessimistic about crypto currencies, and life in general. Do your own research and make your own assumptions on your own, and do not follow people who call for a crypto crash every minute of the day.
Get or HIRE a mentor. I have helped many successful students over the years. But Even I have a crypto mentor who has made over $33 million dollars in this space. I always listen to him, as he possesses the knowledge I need. So I would say hire someone who has what you want, or is at a point where you want to be. You can learn things so secretive, not even the big guys know them. Its a fast way to make huge amounts of money in crypto fast.
Always look out for new coins. This is what I do nowadays, because we are in the dawn of driver-less cars, air taxis, virtual reality, ai, etc. So some of the cryptos that will come out and support these industries will be like going back and buying bitcoin when it was 0.30 cents. If you find the right one you could literally become a millionaire in a few years. The hard thing is sorting the wheat from the chaff. But in the end, its well worth it putting your time and energy into the research each week.
IF you make serious profits in a coin, fast, its always great to give yourself a pat on the back, but if you see big profits, its always good to take some profits, or a little froth off the top and convert that back to fiat. That way you can reward yourself making handsome profits and you can also save that money in case the cryptos have another drawn down [sell off] so you can jump in at much cheaper prices. As they say “buy low, and sell high” that is the main aim of the game in crypto land.
KNOW WHEN TO HOLD EM’ AND FOLD EM - No one is going to tell you where the bottom is, and where the top is. So always remember that!, The way I have made huge amounts of money is when there is blood in the crypto streets or we see a crash in BITCOIN price. This is a time where weak hands are forced out, and smart money is buying back in. Of course you are never going to buy the exact bottom or sell at the exact peak of the market. But I like the saying from billionaire Warren Buffet. “BE GREEDY WHEN PEOPLE ARE FEARFUL AND BE FEARFUL WHEN PEOPLE ARE GREEDY” Doing the exact opposite of what other emotional crypto investors do, can make you a fortune in this space, so keep that in mind as you continue on your journey!
These 10 points can help you in the coming years. Feel free to print them out and utilize them as blockchain and crypto grows in the next several years.
