May 01, 2022 06:24 PM
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(Updated May 01, 2022 06:29 PM)
Being an investor in Crypto, I advise newcomers to avoid below mentioned mistakes before start your investing journey.
1) Don't invest using any platform or app
2) Crypto market is way more volatile than stock market so if you are thinking that your 500rs of investment can become 5000rs then please remember the opposite of that. It means it can become 0 or reduce 50-70? of it's value.
3) Don't purchase in bulk because timing the crypto market is impossible, always choose SIP mode or invest in intervals.
4) There are many cryptocurrencies and many don't have any fundamental value. To start with use only Bitcoin and Etherium. Gradually you can learn about others and then start investing in them.
5) Only put 10? of your total networth in crypto bucket.
6) Please don't invest just with somebody's influence , use your due diligence and then learn about it then start with small chunk of money.
