Becoming a savvy investor, my best strategy for investing in cryptocurrency

Hi steemit friends, hope you are doing well,
When you gets familiar with bitcoin, you might be curious about investing in it, indeed it can be very tempting to start pouring money into it, personally, I have been bitten by this bug before.
If you think that you are going to make money without taking on significant risk by buying and selling Bitcoin at "the right time," you are in for a very serious reality check, chances are, you will not only lose money, but you will also take on more stress and more heartache than it is even worth. Plus, because the Bitcoin market is open 24/7, your nightmare does not end when you go to sleep.
But, by now, you already know all of this, and I hope you will refrain from the temptation to become a trader.
I am not qualified Financial Advisor, and the information in this post is intended for Educational Purposes only.
In this post, I want to share with you some tips and tricks for safely and intelligently investing in Cryptocurrencies.
You may be under the impression that it makes sense to buy a bunch of Bitcoin now and just sit on it. This, however, would be a mistake. Bitcoin may go way down after you buy, causing you to lose money, and it may go way, way up as well, causing you to regret that you did not buy more.
For this reason, I advocate that you employ a strategy called Dollar Cost Averaging, or DCA.
DCA is a strategy where instead of buying in large, lump sums at once, you instead buy a small amount of Bitcoin every day, week, or every month, no matter what is going on with the price. In effect, what this does is "smooth" out your acquisition prices, creating an average. Sure, you might "miss out" on some potential profits by not impulse buying when the price drops, but in exchange, you will miss out on making a lot of mistakes, and having a lot of heartaches.

At least with Dollar Cost Averaging, since Bitcoin is likely to continue going up in the long run, you will make money.
The next investment tip is: TheBuy and Hold Strategy.
The buy and hold strategy is exactly what is sounds like: Buying Bitcoin, ideally through dollar cost averaging, and holding on to it for a long time. The logic behind this strategy is simple: as we get closer and closer to the 21 Million Bitcoin limit, Bitcoin will not onley become more scare- as people lose their wallets, move funds into cold wallets, and so on, but also, more and more money will be injected into the system, and divided among fewer and fewer coins. Of course, you probably hear that it will take over 100 years for the limit to be achieved, but you do not have to wait that long to benefit from the buy and hold strategy. Even a few years will likely be enough to see some significant returns. Personally, I have committed to holding my Bitcoin for at least 5 years – but who knows, maybe I will even wait 10!

It may sound too simple, but buying and holding truly is the most safe and often overlooked strategy.
Finally, I want to share one important note that you should keep in mind any time you invest in anything: Come up with strategy and a plan before hand, and then stick to the plan. Investing is, quite honestly, a legalized form of gambling. It plays tricks on your mind, it activates crazy dopamine receptors in the brain, and can make completely rational people do very stupid and very dangerous things they otherwise would never dream of.