Investing Golden Rule
Do your own research
Risk only what you afford to lose
Never let your emotions consume you
Cryptocurrency is a digital currency, or "virtual money," in which transactions are verified and records are kept by a decentralized system that is also organized using peer-to-peer blockchain technology. Instead of relying on a centralized authority to secure each transaction, it employs cryptography. Cryptocurrency currently includes Bitcoins, Bitcoin Cash, Ethereum, SLP, and a variety of other tokens. These tokens represent the amount of money you have, and you can buy or sell them using a variety of crypto applications and platforms. A good way to invest, particularly now that everything has been modernized, and because the internet makes it easier for us to trade cryptocurrencies. Aside from that, it is private management, and you can see the decrease and increase in the price of each coin, as well as the speed and ease with which each transaction is completed.
Many people are probably already fascinated by the idea of investing in crypto coins, aside from the fact that it will help the money grow in value by generating interest. It also aids in understanding the economics of the various currencies used around the world. Some people say it's just a scam, but I don't believe it is because crypto currency is made up of blockchains unless there are self-proclaimed earnings or investment websites set up with malicious intent. All things that seem "too good to be true" should be carefully considered, as they are almost always intended to be scams. In crypto, there is no such thing as everyone being easily tormented.
In my personal belief, having a bad trading experience is unavoidable. You may now suffer losses, but just as the golden rule states, learn to research on your own before relying on online guides. The best experiences are those in which we learn from our own mistakes. If you have been the victim of a scam, try to remember what went wrong and where you went wrong. You may also be lacking in knowledge and simply trust. Because there aren't enough recommendations and good words to believe everything you read and see in this type of investment, it's best to do some research first. Understanding the field of cryptocurrency takes time, but it is time well spent if you excel. Diligence is always a key factor in many situations.
Because the market for this type of trading changes every second, remember that risk is the only amount you can afford to lose if you don't want to go bankrupt. You can make a mistake with one wrong prediction or decision, especially if you allow your emotions to guide you.
Money is not the only basis for investment, time spent learning how to be a better investor is also important. If you want to win, you must also be willing to accept the possibility of losing what you've invested; we must learn to accept defeat because we don't always win.
According to my personal experience, I was also bankrupted as a result of a hasty decision to buy and sell coins. Yes, it's unfortunate, but don't let it drive you to seek vengeance because you won't be able to use your mental capacity properly if you let emotion make the decision for you. It is preferable to calm your sekf before deciding whether or not to trade right now; it is up to you whether you want to move your trades every minute or hold them for a long time. There are numerous foundations and aspects on which we must rely. The desire to make money is insufficient whereas a lack of knowledge in this field, as well as greed, can make you even more depressed.
It's still worthwhile to study at your own pace and try to devise a strategy for controlling your emotions when it comes to making decisions. Strive for what you want and be thoughtful and knowledgeable about how you'll stay on the path you've chosen.
Disclaimer: I am neither a psychologist nor a financial advisor, and all of my pieces were done for entertainment purposes only. What I've written here is merely my personal opinion, and any statements made are based on my personal views and should not be taken as fact. Always do your due diligence.
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