Can You Make Money With Cryptocurrencies?
A lot of people are asking this question.
I will tell you the golden rules to make a fortune with cryptocurrencies.
Sit tight and read.
Rule number one: The first and most important rule that you normally already knows is:
Buy Low, Sell High
Let me tell it again because I can see you, you have an ironic smile in your face.
Buy Low, Sell High
To observe this simple rule, it implies that when everybody will sell for maybe one-two weeks and the price goes down and more down and everybody is thinking that this is the end of the crypto-sphere, then YOU, will, must, are committed to BUY.
Rule number two: never expect to hit the bottom to buy, or the top to sell. If it would possible, then you would be a fortuneteller, and you already knew that you can make money with cryptocurrencies.
Rule number three: when you are ready to buy or sell don’t to it once for all the money you have to invest( or the crypto to sell). Pest practice is to split the process into three steps. So if there are movements in the price, you split the risk for not buying on the bottom price, or not sell on the top price.
Rule number four: Make your research, read a lot, and understand the purpose of each coin you will invest in.
Rule number five: never invest more than you can afford to lose, otherwise, you get in panic mode when the price will go in the opposite direction, and you will not thinking clear.
Rule number six: Be careful, there are a lot of scams out there and shit coins. With altcoins with small capitalization, it is the truth that you can expect an x20 gain but the risks are more.
Rule number seven: Never invest all your money in only one coin. I hope you understand why. I will not explain it.
Rule number eight: Hear all the opinions but stick with your own. When you have taken your decision, don’t change it every single day. If you do it you haven’t taken it(your decision). You will mesh things in a bad way.
Rule number nine: Don’t get greedy. Don’t expect to make one transaction and be a millionaire. You must make the cycle a lot of times ( buy low sell high). Or you can become a long time investor. Buy it low and wait for some years(HODL). If the price will skyrocket you are the man.
Rule number ten: If you want to take a quick way, then use leverage when you trade, but have in mind that you can lose every single dollar you have invested.
Rule number eleven: Trading is based on speculation of the price. There are no experts who are always right about the speculation. That is the reason I use the word speculation.
Rule number twelve: Read number one again. This time, I am smiling!
I hope we all get rich eventually someday.
I write about a lot of things including cryptocurrencies. If you like to hear news from me, stay in touch.
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