Day #5: CryptoCurrency tips for you and I

Notice: This is not financial advice, this is my opinion and I am not a professional. Please consult with your financial advisor and always do your own research before making any decisions or investments. I will not be liable for any losses or gains that you may incur.

Hey what's up fellow Crypto investors,

Time flies on steemit! I'm constantly checking to see if there's any updates on my feed, any new comments or replies on my posts or interesting hot content. I'm 5 days in since my first blog and I plan to continue on.

I'll be regularly dropping some tips on this post as I gain more knowledge and experience in the Crypto world. Feel free to drop some of your tips in the comments and I'll add the ones which I think are very useful.

So, here we go:

1. ONLY invest what you are willing to LOSE 100% of.
- The first thing I say to anyone who is interested in getting into Bitcoin and Altcoins is, put it what you are willing to lose, the market is highly volatile, there is a (low) possibility you could lose ALL of your investments. Do not put in money which if you lose, you won't be able to pay your bills or feed your family.

2. Diversify your portfolio.
- Have you ever heard the saying, don't put all your eggs into one basket? Well the same principle applies to investments. Don't put all your money into one coin, spread out into multiple Altcoins and ICOs to decrease the risk of losing all of your eggs!

3. Research, research & a little more research!
- Before you jump onto the first coin you find or your mate(s) recommend, do your own research. Jump on forums like Reddit, whirlpool, or yours truly, steemit and see what the community have to say about that specific coin/token. Try to look beyind the marketing, the product is always perfect within the eyes of the Devs. Also have a read of the whitepapers, identify what utility does it have & how does it compete with other coins already out there.

4. Look for the Hype.
- This point somewhat contradicts the above point in terms of utility, however, there are some (not to name) coins out there that don't do what they've promised to do, however their marketing team is on the ball and have driven hype within the market, increasing awareness thus increasing the buyers. Remember, the more buyers, the higher the price will go. Keep your eyes on the news and social networking sites, if you see a lot of coverage on one particular coin, chances are the value will increase; take care here, a coin which quickly rises, can quickly and usually drops.

5. Keep on HODLing
- At times like today (17th Jan 2017 day of writing) where there has been a widespread drop across the market Bitcoin has dropped below $13,000AUD, keep your emotions at bay and think strategically, how can you take advantage of this moment? Do not dump all of your coins because you're afraid that "the bubble has popped". If anything, I would suggest to purchase more coins at this low price; of course don't use all of your budget at once, you'll want to maintain the 20% Dollar-Cost Averaging (DCA).

More to come soon, follow me to stay up to date.

Please upvote/downvote for my content accordingly, hit me up with a comment if you have any questions or concerns, will try my best to reply to everyone and anyone.

Cheers!
Shannon