New in Crypto? 3 Things you Should know to be a Successful Investor!
Thinking about investing in crypto, but have no idea what you’re doing? Fear not, dear reader — we got you covered.
There are plenty of digital assets available and choosing some of them can be overwhelming if you’re not used to decentralized markets and their behavior throughout the year.
Some tips can help you a lot entering crypto by reducing your risks the best you can. Also, these tips can help you make bigger profits in the long-term.
Get informed about projects
There are plenty of users buying crypto just because many others are doing the same. This is the most dangerous move to make by far.
Ever heard of Bitconnect? It was one of the biggest digital assets back in the day. Turns out it was a scam — a Ponzi scheme that promised profits of 1% per day. Some victims organized themselves to report the organization and big sums of money were lost during the scheme.
In short, you should read as much as you can about a project before buying anything. Search for user’s references, read the whitepaper, its roadmap, partnerships, adoption, etc. Consistent projects are more likely to succeed.
Don’t be afraid of volatility
Traditionalists are usually worried about the high volatility that exists in cryptocurrencies. They can’t be blamed for it, though, since they’re used to centralized and controlled markets. However, cryptocurrencies are way different.
Users are the only ones that can determine digital assets’ pricing; there are no central banks or specific financial entities responsible for that.
For the first time in human history, YOU can be your own bank and work along with your community to build a healthy and profitable economic environment.
Crypto goes up and down abruptly sometimes, and that’s okay — projects will not die because of a 50–60% downtrend.
Protect your money
Since digital assets can be used online-only, you should worry about protecting your devices. Antiviruses aren’t enough to keep your equipment protected; you should aim for internet security bundles.
Malware is being designed to gain access to your private keys — and it can’t be tracked by antivirus software. Kaspersky, Norton, and Avira have great security solutions for the most popular platforms and they’re very cheap.
You can even use Virtual Private Networks (VPN) to increase your security when trading cryptocurrencies: your connection becomes untraceable, which can make hackers’ lives more difficult.
Do NOT use illegal versions of operating systems (OS), since their security is automatically compromised to be used “freely”. They can’t receive updates as the original ones and usually have viruses and malware installed by default (some of them are crypto miners that will destroy performance by stealing computational power). Antiviruses can’t work properly on pirated operational systems.
The bottom line
Buying assets without knowing the story behind them can be dangerous to your money. Solid projects are transparent and receive regular updates according to their users’ needs.
Since digital assets are something new, volatility is present and more aggressive than in most traditional markets. And there’s no problem in that — the volatility will likely be controlled if users begin to use them more frequently.
Protect your devices against viruses and malware; doesn’t matter if you’re using mobile phones, Windows, Linux or MacOS — there are multiplatform menaces that can compromise your finances if you don’t play your cards right!
Register now at CoinShopp and make your part to help a decentralized economy thrive!