Investing Wisely in Cryptocurrencies

in #cryptocurrencies7 years ago (edited)

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According to observations of my colleagues and me, the high percentage of cryptocurrency traders invests in projects that have no working products. If you spend your Bitcoins in a token or coin that solves nothing, creates nothing and ensures nothing, you will most likely lose money if you can't sell that token/coin profitably in the short term.

So, how can you avoid such losses? We prepared two solutions with the reasons for you.

Solution 1: Sell useless tokens even with a low-profit-margin. Don't ever hold them for the long term.

Why?

The problem is that value of a useless project tokens may increase and deceive other amateur cryptocurrency traders to invest. Combination of social media hype and fear of missing out will result in overbought, bubble-like tokens/coins. Eventually, the value of the currency will undergo a significant correction and fluctuate highly. Because of the social media hype and fear of missing out, lots of weak hands that joined in the process will begin to sell and let the price go bottom when they exposed to fear, uncertainty, and doubt.

Solution 2: Buy tokens/coins of the projects that have proven products and low market cap.

Why?

Projects that solve real-life issues and serves a real purpose will eventually have their real value and attention. You will invest in a working product instead of the whitepaper that full of sketchy and fancy words to attract investors. If you don't get on the train from the top, you won't lose any dime.

Thank you for consuming our words, may the blockchain be with you!
Coinsity Twitter: https://twitter.com/coinsity
Coinsity Telegram: https://t.me/coinsity

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Nice tips

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Thank You! ⚜

said the spaminator lol

@spaminator is a project to get rid of spam, it's not an account to use for spam :P

Slow and steady will win the race in the crypto market! Thanks for the post!!

Yup and if you invest in a proven product that you would like to use yourself and it doesn't "go to the moon" in price, then you can still get the benefit of using the product!

Do not buy anything until you do your research on what you want to buy or invest in for long-term holds.. if you are just a day trader then the only thing that matters is if the price is low and it will go back up so you can sell at a profit, start small and do not put all your eggs in one basket , buy a number of different coins and tokens, and do not spend more then you can afford to loose...

It has more to do with fighting false information. People who buy coins based only on news are gonna get what they deserve for not doing due diligence. But regardless, such large scale misinformation campaigns should be exposed.

you right always but besides false news people not thinking about consequences when spending their money

most of the time people say invest only what you willing to lose

this is not right in that case you already programming your mind for loosing

and we all want to win when investing!!

so I say "invest only the money that will not have an effect on your daily life"

I think investing in crypto currencies will result in mental tension only. yu should work hard and earn by working

Makes sense. Need to start seeing real use cases for cryptos you are investing in, if you are really "investing" and not doing short term trading

Holy crap batman. There are a lot of bots voting on this post.

I have bookmarked, to know where all the good bots are at these days

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