The world of betting and that of the investment in Cryptocurrency presents a series of analogies, although they are not the same. If you have already achieved success in sports betting and want to delve into this exciting world of Crypto, you better read these key tips to increase your chances of winning how to store cryptocurrency.
We will make a brief review of some of the premises that any person should have clear when he decides to invest in the world of Cryptocurrencies. Following these 5 basic rules, the success of your investments will be much closer:
Do not negotiate with the money you need to pay your expenses. It’s called “venture capital “for a reason.
CRYPTOCURRENCIES ARE A MARKET 24/7
That is, it is open 24 hours a day, 365 days a year. If you cannot follow an operation, do not worry, there is ALWAYS another opportunity in the market. On many occasions, the most difficult thing to do in the market is … NOTHING. This can also be the most profitable.
The best way to make a profit in any market is to find something that you think has great potential and invest by always establishing a maximum loss limit. It is very important to stay away from currencies with low trading volume. They are easily manipulated and you can stay trapped in the market.
Tickets are important, but risk and capital management is where money is really earned or lost. The main errors at the time of investing are: the excess of operations, doubts about the entries and the closing of the positions. You have to be clear that you can NOT control the market , the only thing you can control are: your tickets, the size of the operations and the outputs.
You can lose 50% of your operations and remain profitable, provided you make good risk management. Therefore, do not give up when you make mistakes, just learn and try not to make the same mistake. Knowing how to control your emotions with losses and above all with profits is one of the main keys to success as an investor.
In short, if you have a good investment plan, establish an appropriate risk management strategy and work to control your emotions, you are ready to achieve success in this new world of cryptocurrencies.