Good cryptocurrency investment rules (hope)

in crypto •  7 years ago 

Three basic ones:

1. The right site - always check the site address before log in, it's best to add it as a bookmark and use it all the time.

1. The right wallet - bitcoins send only to bitcoins wallets and ripple only to ripple wallets etc. It's easy to make a mistake but bitcoin cash, bitcoin gold, bitcoin private, they are 3 diffrent cryptocurrencys and if you mix them the money you send is lost!

1. The right pocket - keep your money to yourself, don't keep it on the exchange because as we have seen it in the past even the biggest one of them can be hacked. Additionaly there are lots of airdrops you can participate in and exchanges usually keep righfully yours money to themselves.

Additional:

  • Invest only the money you can loose.
  • Patience is a virtue, make decisions emotionless, stick to the plan.
  • Don't invest in ICO - they prices always fall and more then half of them are scams.
  • Rebranding makes a quick increase of value and then a big drop.
  • If there were 3 attempts to reach certain price level, it is likely to be a forth :)
  • Best cryptocurrency prices are on sundays.
  • Technical analysis - it's a tool, not a seer, think when you use it.
  • Know your projects. What people say abut it on steemit/telegram/reddit are there any progresson on github?
  • Buying or selling devide your money in few parts and make your inevestment over some period of time
  • Best to invest when everything is red and sell at the green :)

These are the rules that I try to follow if I missed something I would love to know as it can save me lots of money in future :)

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