As the bull market has started and going on, more and more new people are entering into the crypto space not knowing anything but eager to earn money. This article is to help that new beginners in the market on how to invest their money and help them take maximum profit.

Disclaimer: I am not your financial adviser and all information available below are for purely educational purposes. Please verify all of the Information before using it and don't make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

Everyone knows that cryptocurrency market is extremely volatile and could change within a minute even though this made more millionaires than traditional finance. Even though I am not there yet I wanna be one of those millionaires. To be frank I also lost money in my way here and I don't want new comers to experience the same thing.

Here are some basic information u need to know before investing in crypto

1. Beware of scammers

Don't think that my first advise is to beware of scammers, as security and safety surrounding crypto is evolving scammers in crypto is also evolving in different ways to exploit and steal money from u. If u are a new comer in this industry don't invest in everything on the go.

Research about everything in crypto do not follow a single person, research research research yourself it can only help u to avoid scams. If u wanna learn it about in detail kindly visit here to learn about the type of scam and how to avoid them

2. Understand before investing

If u have x some of money and someone said that they have taken profit from this or that don't invest in anything based on that alone. Try to understand the product why it is important and how it helps in crypto industry. Why the particular product or in case crypto the crypto coin is rising in its value. Ask yourself these questions and invest your money.

Do note that All major crypto coins out there pose a purposeful value for its price take ether for example its the first cryptocurrency to introduce smart contract and so many other things, take celsius token for example it has a real purpose in celsius network lending platform. No major coins out there are there for show. So next time u invest in a project understand its value then invest.

3. Diversify your investment

This is an important thing in crypto always diversify your investment. don't depend on one single entity. Diversification brings u lower risk in your portfolio.

If a particular coin is rising in value u may not get massive returns in diversifying but if it goes down u wont lose everything. Another thing to note is recent kucoin exchange hack, if u diversify your portfolio chances are your losses are minimal when someone hacks a particular exchange or wallet.

So keep in mind to diversify your portfolio as well as your investments because, in this way, you can spread your risks out. In case something goes wrong with your investment, you don`t have all eggs in one bag.

4. Do your own research

Always do your own research before investing in anything in crypto. It means read , watch videos of famous influencers and get lot of information on every possible way u can. Because crypto markets are mostly unregulated and if u loose your money u wont get it back.

5. FOMO

FOMO means fear of missing out. U may hear this term often in crypto. Don't fear while investing and try to be cool don't invest in anything out of fear. If one coin has raised in value and if u missed out there will be always another coin to help u out in crypto and new projects are more often in crypto so u don't need to wait long. So don't do anything out of fear.

6. Create a long term strategy for yourself

Create a long term strategy for yourself don't ever think u can get rich overnight in crypto. U need to be patient like traditional finance watch the market learn everything invest properly and long term and then u can make a bucket load of money.

Always don't buy a coin when it is in peak , buy at dip, hodl it and sell it at peak. If u miss out the opportunity wait for the next time and buy it.

Also u can lend and stake your coins in various lending platforms like celsius, nexo and blockfi and earn passive income out it.

7. Calculate your fees, gains, loses, taxes and inflation

Don't forget to calculate your fees in exchanges while buying and selling cryptos, And gains while u sell them and the taxes u need to pay for your earnings and also the inflation of your assets.

Also if u need to transact your crypto from one wallet to another wallet there also u need to pay your fees. In case of DEX that is decentralized exchange like uniswap the fees are higher due to massive increase in eth gas fees.

So try to calculate all things before u do anything. If u want to transact an asset but u paid heavy fees for it then u cant get any earnings out of it.

8. Reinvest

If u wanna earn long time and trying to get the maximum benefits out of crypto than u should always reinvest. Without reinvesting u can get maximum profit on any platform let alone crypto.

9. Start investing now

My last tip to every newbies is to just simply start investing now. Its never too late in crypto industry u are always welcomed in this space. Just be ware of the above mentioned points. Everyone make mistakes even me so learn from your mistakes acquire knowledge and let the success be with u.

I hope this article is helpful to u, I would like to hear your thoughts on this. If u have any doubt about investing or if u want my thoughts about a particular project pls comment down below.

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