HOW TO NOT LOSE MONEY ON CRYPTO

[cjlab9ihih]

Investing in cryptocurrencies always involves risks, and there is no absolute guarantee of capital preservation. However, in order to reduce risks and make informed decisions, you can follow a few fairly simple, but at the same time effective rules. You should not invest all your funds in one cryptocurrency. Portfolio diversity can mitigate losses in case some asset fails. Determine your investment strategy (long-term investing, short-term trading, staking, etc.) and stick to it. Work only with amounts you can afford to lose. Be careful when choosing cryptocurrency projects, ICOs and exchanges. Do your research and due diligence. Now there are a huge number of online tools that can help you estimate the potential return on investment, take for example the same BTC yield calculator https://ultramining.com/en/crypto-calc/bitcoin/. It is quite easy to use and allows you to calculate your expected return using various parameters. And there are a huge number of such auxiliary tools.

[SMSMime]

1. Do your own research before jumping on a random new shiny shitcoin.

2. The crypto market is always upside, down and sideways, so don't burn money that you need today or next week or next month, instead put it on something more safe.

3. Avoid the FOMO (Fear of Missing Out), don't let emotions control  your investments, be rational.

4. Don't put all your bet on one coin, try to split it out across the board.

5. Consider not using any exchanges because as you saw recently with FTX, you can't trust any centralized exchange these days, as the saying goes "Not Your Keys Not Your Crypto". So use a decentralized exchange/wallet.

6. Keep your private keys in safe place, c'mon don't put it close to your pc where everyone can see it (talking paper), c'mon do better than that.

7. Don't chase pump and dump schemes/scams, like Logan Paul and alikes.

8. Like if it was helpful.

Good advice.

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