The recent crash in
#OM token prices showcase the need for a measured approach towards crypto.
I have been in the crypto market since 2017, and have tried out multiple ways to make money in the market - be it as a Futures trader, as a Swing trader, a Bot trader and even a long term Spot trader. Now I only get the free airdrops and earn through staking instruments and use crypto as a high risk retirement fund investment.
What I have come to realise as an outcome from being in the market for such a long time is - crypto is not everyone’s cup of tea ☕️
Few things to consider if you want to survive in this market:
1. Identify why you want to be in the crypto market to identify your risk appetite - Get rich quick, build some passive income or long term investment/ hedge
2. Leverage/ Futures trading is a double edged sword - can quickly build up capital through luck/ knowledge, but can also bring your capital down to 0
3. Utilize Airdrops/ Rewards to the max - Free money, even a dollar never hurts
4. Always keep atleast 20% of your portfolio in stablecoins for buying the dip of fundamentally good coins with practical/ future use-cases that you feel might add value in the real world - BTC, ETH, SOL and XRP
Let me know if you want to know about any particular crashes or how to remain afloat during a hard phase.
Stay safe, and happy investment
#CrashUpdate #InvestSmart