It’s a great time for risk-conscious investors.
Venturing into the blockchain technology can be daunting but exciting at the same time.
We wish you that you make lots of money investing in cryptocurrencies, tokens, etc. whilst being aware of the real risks and dangers. Cryptocurrency Investment will support the community with News, Research and reports.
The questions you should minimum ask before you invest:
- What issue does the coin solve?
- Is the coin really needed? Does the token have any utility?
- What is the token economics? Why should the value increase?
- Why does the company need blockchain? Really needed?
- Is the management qualified? What is their experience? Who are the advisors?
- What are the credentials of the team of developers?
- Do they have competitors within the space?
Quite simple: Investing in the coin’s fundamentals and not the hype, sets you up for the long term, and most importantly it gives you confidence since you’ve made your decision based on your own analysis.
The best way to protect your money and investment is to acquire the skills and knowledge needed to make informed investment decisions.
Trusting an unknown third party is high risk. If you need someone to invest for you, make sure you ask questions to verify their credibility. There’s no such thing as earning fixed returns when investing in cryptocurrencies. Don’t fall for the various scams or Ponzi schemes which Cryptocurrency is full of.
Importance of Due Diligence
One of the most fundamental skills that new investors must possess is the ability to identify cryptocurrencies that are backed by solid fundamentals.
There are over 3000 coins and crypto tokens available, and there is, unfortunately, a tendency for new investors to overlook the fundamentals of the coin and make investment decisions based on hype (FOMO). This is especially common since many don’t understand the mechanics of the coins they invest in.
The hype is not bad at all. You can make some solid gains buying tokens based on hype, but there’s a very high chance that it could backfire and you could get burned. Be patient. There are and will be numerous opportunities to make money with cryptocurrencies
Relax, be patient and wise to acquire the right knowledge before investing. Don’t be the person that invests based on the current hype in a FOMO mode.
Keep calm. Don’t fall prey to irrational excitement; you can get burnt very easily, if you don’t know what you’re doing.
Always do your research first. Check several sources. The website and the company twitter handle are not enough. If it’s too complex, look for answers and ask. Reddit, Twitter, Telegram groups, the entire cryptocurrency community is filled with awesome individuals that can simplify things and help you along the way.
Know that there are plenty of opportunities to make lots of money in the cryptocurrency market, and they don’t run away. What sounds like a good investment idea today, will not disappear tomorrow.
Investing is exciting and very tempting when we see markets soaring.
Do your research first!