Want to get into cryptocurrency? Here’s what you need to know before you invest.
A lot of people are investing in cryptocurrency and it’s becoming increasingly clear that it’s not just a passing fad. It’s also clear that it’s potentially very lucrative — though not without risks. So, before you invest in cryptocurrency, it’s a good idea to have a goal in mind and know how much you can afford to lose.
Not many people ask themselves why they are you investing? Most will say it’s to make money quick, while others will say it’s a future investment in blockchain technology. For others, it might just be out of curiosity. These are already very different reasons that should produce very different strategies.
For short-term gains, it would make sense to buy low and sell high — but there’s a lot more to it than that. You’d need to choose a coin with high liquidity, have a sense of risk management, and rebalance your portfolio every so often. Without a plan, you’re simply not going to …
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