Investing Wisely in Cryptocurrencies

4년 전

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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!
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  ·  4년 전

Nice tips

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Generic comments could be mistaken for spam.

Tips to avoid being flagged

Thank You! ⚜

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said the spaminator lol

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

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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!

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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...

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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.

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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

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Proven product is important for gaining long run and low market cap help to increase the value of a coin suddenly. Yeah you are right.

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As the market develops, those coins with little real-life application/working product will be re-valued accordingly. We are still in the early phase of adoption, thus the market is struggling to value coins. I have no doubts overtime we will see coins with real-life application and working products valued accordingly.

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Great advice here! I just recently sold a few positions, when I asked my self: "Why the heck am I holding these coins?!" hahaha

Price is not only what you pay with money.

Buy Nem! It has just had a massive correction and will be used as the platform for Venezuela's PTR (Petro cryptocurrency).

True my friend I totally agree

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Price and value depend on product, choice & money.

Good story

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Very nice post...Support you!

This is really a great advice to remain profitable in crypto world. keep it up @coinsity

I hope you can give more example of the token name to be avoid to hold and not a profitable one for a long term investment...Thanks for the tips

nice post.

Nobody knows how the market for crypto is going to move. It is very difficult to predict which coin has a good future. Where to invest, when to decide,how to make a profit??? These are the questions to keep in mind.

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Good advice really, if you dont see the potential get rid of it!

investment wisely in that crypto which having good value and price both

nice tip, this comes in handy, especially now that the entire market is dipping, It is most times very frustrating.

great advice will definitely look into your proposed solutions .If anyone can explain why a low market cap that would be really appreciated :)
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i agree with you, i mean that the priece is very easy to be influenced by media and fear of not losing very much, and i think media can influence the price very day with at least 10% and at a currency as bitcoin this can bury you..

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Very true.

Projects that solve real-life issues and serves a real purpose will eventually have their real value and attention.

Sounds like Steem to me!!! :-)

Thanks very much for the advice, great tips...

You are perfect I do agree with you.

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