@neilzaJNB 21 April 2020 more from that month

What I learnt about cryptocurrencies

I don't classify myself as a cryptocurrency expert but over the years I have learnt a few things about what to do or not to do. More often than not I'm gonna tell you what not to do from my experiences. **Emotions** Cryptocurrencies can be extremely volatile and can reach extreme highs and extreme lows in short periods of time. You can get an emotional urge to sell as it plummets and if the crypto is at a point where it's less than what you paid for it you will now make a loss. I have learnt to ride the market out. I'll share my simple trading strategy later on in this article. **Gambling** There are plenty sites out there where you can gamble your cryptocurrencies. They seldom work out in your favour. You might make some headway at first but the algorithm will hit back sooner or later especially as you play more and more. **Choose** **a** **strategy** Whether you an expert who can read the charts or someone just taking a wild swing every now and then choose a strategy and stick to it. My strategy doesn't require any scientific or technical approach. What do I for instance is this: Depending on your budget your amount of Bitcoin or other cryptocurrency will differ. I will do a buy of 0.0005BTC at 6500USD. Then I will set limit trades of 0.0005BTC at 6450USD then 6400USD and so on. You choose your increments. Then when a buy goes through I will set a limit sell or about 2.5% up more or less. And I just ride the market's . The major cryptocurrencies will always have there day when they spike and close off all your limit sells. **Beware of scams** There are plenty people out there wanting to relieve you of your hard earned cash of crypto. I advise putting 2FA on if your exchange allows it. And if someone puts a deal to you and it seems to good to be true it most probably is. I have walked away from so many proposals that just seemed to bizarre like they say they will give you 20% growth per month. That is most probably a pyramid scheme. Im very sceptical about organization's or site that require recruiting or network marketing. As I said at the beginning I'm not an expert. Always do your research before choosing an exchange, cryptocurrency etc. God bless Neil - Johannesburg, South Africa