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Before buying crypto things you should know?

  • Thread starter Thread starter Ashu
  • Start date Start date
nimzy said:
Before buying any cryptocurrency or coin the first thing you should always consider is the demand for that particular coin, the value or the price if that cryptocurrency at that particular time I thing this will helped alot.
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Good considering fact about if you're checking the demand at that time alone then you should be ready to trade such coin for a very short time because if the price is not sustainable there's every possibility that after way to crash but if a coin has a better use case you will check the sustainability factor if it is high then invest why they can grow gradually and you make your profit gradually too
 
You should first check the worth of the coin and the potentials of the coin.
It is also important to check k the total supply and circulation of such coins because it determines the value and worth of the coin
 
Well, i am goin to invest in crypto coins this month and I do realize that I am risking my money. However, I just hope that I will gain profits eventually because most of the crypto have been gaining value every year.
 
While, before investing in Crypto currency, you should be aware of the risks involved. You should know that it requires patience, techniques and critical thinking to earn on crypto. You should control the level of greediness if you don't want to go bankrupt.
 
Ashu said:
First step is your research. They are risky. There use vary. They may fail. They may vanish. Crptocurency investors use many different strategies. Alot of other factors involve in here.
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Crypto is really risky. I would advise you do more of research before going into it
 
I came into this thread hoping that you'd highlight some things to look out for before investing in crypto. A lot of people in the comments gave made good points, there are things I look at before investing.
 
You're right about that. There isn't a hundred percent guarantee that you will make success in cryptocurrency investment and trade as many things can possibly go wrong in the process so we need to keep that in mind
 
Investing in crypto is just like gambling, the only difference is if you have patience to wait for a long time, you might make some profits though. You also need to diversify your portfolio.
 
Cryptos are risky. They are volatile. You don't just buy a coin based on reports that a coin is moving fast. The first step is to make a good research and see the coin's market size and plans in the coming 6 months.
 
You must know when to buy and when to sell before you start trading cryptocurrency or invest in it. you must be able to forecast the Grange in order to make consistent profit with your trading of cryptocurrency.
 
Since crypto is not decentralized , one should not put his entire life saving into crypto because the value of it can be 0 anytime , though its highly unlikely to happen. One should be aware of the risks involved in trading crypto in exchanges and be wise enough to choose secure wallets to store crypto.
 
It is important to know the factors that drives the price of cryptocurrency in the marketplace. This will help you to identify cryptocurrency that are likely to bring profit soon when you trade them.
 
My in-law wanted to buy Shiba Inu because he saw on Binance how it was moving so fast. I told him to make more research. He was surprised when the coin began to drop value again. Cryptos are volatile
 
I am not an expert when it comes to cryptocurrency trading, but I believe that someone needs to do proper research about the cryptocurrency you want to invest. This will give you the opportunity to take calculated risk and minimise loss.
 
I think there are many things you need to consider before buying a crypto. You must see the total trading volume and a total market cap before purchasing a cryptocurrencies. You must never invest what you may regret losing later when it comes to cryptocurrencies.
 
You should know that it is very important to get a mentor if you are planning to go into cryptocurrency trading. it is the mental will guide you on the right path on how to make consistent income with cryptocurrency trading.
 
Ashu said:
First step is your research. They are risky. There use vary. They may fail. They may vanish. Crptocurency investors use many different strategies. Alot of other factors involve in here.
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Before you buy a currency or invest in it, you have to think that it can fall at any time and go bankrupt.

don't invest more than you can afford to lose!
 
When I m buying cryptos, the most important factor that I consider is how long can I wait for the currency to grow, whether I can hold the currency long enough if it goes into bearish run for a long time.
 
Before thinking of investing your fund on crypto platform things you should know and take note of is the coin you want to purchase,is will it rise or fall what is the tendency of the coin rising to about 10% increased
 
Before you buy any cryotocurrency you need to make a good research on the crypto you are planning to buy. Not doing that might leads you to failure.
 
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