Cryptocurrency is of burning interest: social networks are full of success stories of investors. More and more new digital currencies are appearing on the market.
What should a novice investor do? Risk it or refrain from it?
So, you have decided to start investing In Crypto. From this point on, you have a lot of questions about how best to do this. Of course, investments have their own subtleties and professional secrets. But, as in any other field of activity, these rules are based on the usual worldly wisdom. The logic that drives us in our daily lives can also tell us the right decisions in investing.
- Remember your goal If you need adrenaline, then buy it at the casino or engage in speculation in the securities market. It will all end quickly, but it will be fun. If you have a serious financial goal, then be patient. Investing is as boring (and as rewarding) as brushing your teeth.
- Don’t put everything in red What is the probability that in the exam you will get the same single ticket that you learned the day before? There is a high risk of losing everything, counting only on a successful combination of circumstances. You can’t invest 100% of your investment in one thing: in one company, in one financial instrument, or only in cryptocurrencies, no matter how promising they may seem.
- Don’t get into a fight You can’t beat Mike Tyson in the ring. You can’t beat the professionals in the securities market either. Even if you have bright boxer shorts or are shown how technical analysis works. There are no magic pills that will allow you to do this. Don’t let yourself get dragged into a losing fight. Do not believe those who promise to teach you how to beat the market.
- Remain a layman The task of the racing driver is to pass the turn at maximum speed. The task of a motorist is not to go to the intersection at a red light. Nitrous oxide and controlled skidding, derivatives, and leveraged investments are the tools of professionals. Non-professionals should focus on safety and not step on the rake.
- Use diversification If your store will sell both umbrellas and sunglasses, then you will have revenue in any weather. Your investment portfolio should have both risk and security components. Diversification is the only “free lunch” on Wall Street. It can simultaneously reduce risks and increase the profitability of your portfolio.
- Do not buy a “black box” “What is” Kazarechche with duck riet? ” – you ask the waiter. I don’t really want to order a black box. Never buy investment products if you don’t understand how they work.
- Have fun Investing can be fun. It’s nice, looking at a Tesla car floating in space, to casually inform your friends that you are a shareholder of this company. Pay attention to the products and services that you enjoy using-they can become your investment. You can buy Tiffany jewelry and you can buy Tiffany stock.
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