How Not To Lose Money In Crypto

The probable explanation for why you lose money with cryptocurrencies!

I will explain to you the things I did wrong at the beginning and I want you not to do them!

The first rule when investing money, whether it is crypto or stock market, is this:

Don't invest the money you're willing to lose!

And what does the money you can't afford to lose mean? Well, that's the money you don't need in the near future, and this rule applies especially to cryptocurrencies. If you had bought Bitcoin for 60k $ and after 5 days the market would go down and reach 30k $, that means that the money you invested was minus 50% !

If you need that money and you sell it for less, that means you're only getting half of what you put in. If you waited several months and the market grew, then you could sell and make a nice profit!

It's all about mindset and how we see things in the future! Emotions are what affect us the most!

My advice is not to invest money in cryptocurrencies like ETH or Bitcoin for less than 4 years!(Attention, this is definitely a speculation of mine, I do, it's not a tip to do that too!)

The second common mistake for any beginner is:

Don't rely on luck!

It's all about the mindset, don't rely on luck, make up your mind to think and find solutions, luck doesn't exist in the crypto market (and in general, luck doesn't exist "that's my opinion")!

Be careful with cryptocurrencies like Shiba Inu, don't listen to all those great experts in cryptocurrencies and especially don't listen to Youtubers who only make content based on cryptocurrencies!

In order not to lose money, you have to approach the situation differently, you have to make a very well-established plan. This means that this plan is long-term (In this article we talk about long-term positions)!

Surely you have heard of the phrase "do your own research" which means research or document about the projects you want to get involved in because that's the only way you will be 100% involved in your investments!

After you learn to do an analysis of a crypto project, you will see a different world full of hundreds of thousands of projects.

If you learn to analyze your own projects, you won't have to ask people about all kinds of projects.

Be very careful if you are on the crypto market, this market is very speculative and very difficult to understand if you do not do your constant research. Be careful who you follow and who you follow for certain decisions you want to apply, do not sell for less, do not get involved emotionally and do not let emotions drive you!

Beware of cryptocurrencies that do not solve any problem. Most likely, those cryptocurrencies are a big scam and you can lose all the money you want to invest! Great care and attention on this market, it is not as easy as they say!

Stop asking anyone about cryptocurrency tips. There are no cryptocurrency tips! Those people are those things because they probably have something to gain! Everything is very speculative! It's hard to predict what the future holds!

Research is the most important thing because it helps you not to lose money and to better understand what projects you are getting into!

Remember, I’m not a financial analyst, I don’t give financial advice and if you went after me without doing your own research you deserve to lose all your money ! ! !

Invest only what you are prepared to lose!