Tips for beginner investors

Tips for beginner investors in cryptocurrency

In order for beginners not to be disappointed in cryptocurrency assets, it is necessary to follow simple rules:

  • Choosing a service. Purchase currency only on regulated platforms – firms that work without a license and do not comply with any standards are likely to disappear along with investors’ money.
  • Market research. You will have to read news about cryptocurrency often and a lot. It is better to subscribe to some channel in messengers, where information about the latest developments in the field is constantly posted. If you know English, this will be a big plus, because most of the data first appears on foreign sources.
  • Building a strategy. From the very beginning it is best to take as the basis a strategy and, if necessary, edit it to fit your interests and capabilities. Do not work at random, because one luck in investing will not do.
  • Choice of Cryptocurrency. If possible, diversify your investments – invest part of the capital in reliable, time-tested currencies like BTC, ETH, SOL, DOT  and invest in promising, but not yet widely promoted crypto.
  • If you buy cryptocurrency for long-term storage, then keep it in a cold wallet.

It is better to start applying the listed tips in your investment practice from its very first steps. In this way, you will avoid unnecessary risks and failures, which are often faced by novice investors.

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