Advice for Cryptocurrency Traders from My Experience Since 2012
As someone who entered the world of cryptocurrencies in 2012, and I believe I was one of the first Arabs in this field, I have gone through many experiences, lost a lot, and also lost from the profits. From these experiences, I present to you these tips:
1. Do not follow the hype and advertisements
Cryptocurrencies that are heavily promoted may be mere fraudulent projects or "bubbles." Always do your own research.
2. Read the whitepaper
Any respectable coin should have a whitepaper that outlines its idea, the technology used, the project's goal, and its expected future.
3. Check the team and developers
Know who is behind the project, do they have a successful track record in the field? Where are they based? Is the company registered in a country with strict laws against fraud?
4. Do not invest in a coin without a strong project
Coins that do not have a real project or a solution to an existing problem will eventually disappear.
5. Do not buy when the market is sharply rising
When you see the green line too long, you are late, and buying at that time can be very high risk.
6. Use technical and fundamental analysis
Do not rely only on news or emotions, but use analytical tools to determine the best entry and exit points.
7. Do not put all your money in one coin
Diversification is very important to reduce risks; do not bet on a single coin no matter how strong it is.
#منقولة