Is Crypto Currency a Good Investment for a Beginner?
Recent stories of huge gains as high as 10,000%+ in many crypto currency companies have the internet talking about making big money, and quickly...
With the recent uproar of crypto success stories it's easy to see why this is such a hot topic...but is this really a good place for novice investors?
The biggest risk is not taking any risk...
The risk reward ratio has been very favorable to crypto investors lately. However, there is little question, that like all good things, most crypto technologies are going to take time to develop, implement, and gain traction with the mainstream.
Long-term
For many patient and seasoned investors, the volatility of crypto currency in it's infancy is just part of the ride. Sit back, relax, and (with some due diligence) enjoy the growth in your portfolio. Although big moves can happen overnight, crypto has actually been around for years, but it is just now getting major attention.
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it's great to go into crypto but not with the intention to buy a lambo next week.
if you keep level headed and invest in a coin it's great.
but the most importent thing is that you should never invest more than you can afford to lose.
I've seen to many people posting things like "I've lost my collegefund or livesavings"
you should think en check everything 10 times before you put your money in something.
this market is way to volatile to depent on the money, yeah it's great when you can double your money but you can lose it too.
so my three tips are
never invest more than you can afford to lose!
never buy at an all time high!
never sell when your panicking, you only lose when you sell!
if you've invested in a coin you believe in, you just have to hodl and the value will go up again
Pretty solid, fundamental investing advice for any asset class or type. Agreed! Unfortunately, those tend to be counterintuitive to the average investor and beginners.
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