During last couple of days, it has been shown that most of the cryptocurrencies are falling down. I think it is good timing to say why the basic rule "never lose your money" should be your very first priority.
We're living in the inflanationary monetary system. By default, money value become less and less over time. Theoretically government has unlimited freedom to print paper money. The more they print out, the less money value will be. As you probably know, certain proven assets such as gold has more values over time. It doesn't mean gold becomes more valuable or more luxurious, it means that printed money value become less and less.
If you're reallly hard worker and save your money in the bank with minimum interest rate, then actually you're wasting your time and effort to lose money because interest rate never exceeds inflation rate in human history.
Please keep in mind that, always big opportunities are knocking you again and again if you have money and if you never lose money. If you lose your money, then this knocking will be stopped.
During last couple of decades, financial engineering has been extremely deveoped so there are plenty of proven ways to make money above market average without considerable risk unless you dream unrealistic profit every year. By utilizing mulple hedging and leverage, investment bankers has been made a lot of money without even putting their own money.
I'll not go very much deep in this posting. Just let's begin with very basic thing.
Don't invest all your money to any market or asset at once. Buy bitcoin in multiple chances between enough time term as much as possible. For example, if you buy bitcoin always below the moving average line, at least you will have a few chances to recover your loss when you face worst scenario. Most probably, you'll get more than bank interest rates even in worst scenario.
The proven, easiest way is to put some money right after each market crash. It has been really proven in stock market multiple times in the world. In 1998 in Korea, they experienced economical crisis and stock market had collapsed in a short time. The stock price of Samsung Electronics was 30 dollars per stock at that time, and it became 100 dollars per stock very soon. In 2017, their value is a little bit higher than 2,200 dollars per stock. The exactly samething happend when Lehman brothers bankcrupcy had caused global economical crisis in 2008.
As you certainly know China is one of the biggest player in cryptocurrency market. Their economic performance and goverment regulations are far more influencing crypto market more than you expected. Open your eyes on their news to grab your next chance.
If you're really interested in making money in cryptocurreny market for your early retirement or more economical freedom or whatever you like, then slowly and steadily buy bitcoin after each market crash. Never put more than 50% of your money before you hear something about economical crisis in China.
There are serious of more safer, proven way to make money without stress. I'll continue couple of postings if you want to listen a little bit more about that.
Again, never lose your money. The opportunities will come continuously in your life unless you lose money.