Things you need to know before buying cryptocurrency
Things you need to know before buying cryptocurrency.
“a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency and arguably its most endearing allure is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.” According to Investopedia.
- Invest only the amount which you can afford to lose.
- All Cryptocurrencies are not the same.
- There is a chance that many of these different Cryptocurrencies we are hearing about today may not be around long term.
- Go through all details about the exchange, exchange rates, Bitcoin Whitepaper, Altcoins Whitepapers.
- Never buy a coin during a pump.
- Create your own wallet for storing your BITCOINS and ALTCOINS.
- If you’re serious about investing in bitcoin and see yourself buying a significant amount, we recommend using Bitcoin Hardware wallets that were built with security in mind.
- Don’t go in looking to make a quick profit. Look for the long term.Less profit is always better than a small/big loss. Don’t chase the peak.
- Never take a loan or borrow money to invest.
- Pay taxes, stay safe. Always aware of your country regulations.
- Try margin trade on price gap between exchanges.
- Carefully analyze the price charts of cryptocurrency and follow cryptocurrency news for latest updates about cryptocurrency.
- Trust your knowledge.But Never trust your emotions.
- Don’t panic even if the value goes down.
- Bitcoin is still new and it can take months to understand the true impact Bitcoin can have on the world.Take some time to understand Bitcoin, how it works, how to secure bitcoins, and about how Bitcoin differs from fiat money.