Context
As you know , the crypto in whole suffered a massive drop in valuation and a huge dump in price for all coins since the beginning of this year and the war in Ukraine that started in late February also helped this. Some exchanges went bankrupt like Voyager and Celsius and coins that dropped to 0 like Luna which caused a lot of panic and fear among investors. The rising inflation also isn´t helping as many people got out of crypto to save money for food and other first needs.
What are some tips to avoid lose to much money?
Here I write some options you can consider to be better prepared and they are:
DCA (Dollar Cost Averaging)- Basically is investing certain $ a month, like for example $50 on certain coins every month not caring about the price;
Not looking at price charts every day- Which can help you not to panic sell;
Don´t panic sell- If you believe in the project , don´t sell just because it dropped in value;
Check crypto´news - You should be updated because somethings can happen that can impact the coins , like cryptocurrencies and exchanges going bankrupted;
Play games that offer crypto;
Don´t trade- Because that in most cases don´t work well;
Stay away from pump and dump crypto youtubers;
Don´t keep crypto in exchanges and get a wallet (Hot or Cold wallet)
HODL
To clarify, I´m not a Finacial Advisor