How to Protect Your Portfolio

What happened with OM can happen to any cryptocurrency. It highlighted just how vulnerable and unpredictable the crypto market can be.

OM plummeted from $6 to $0.37 within hours—not due to a scam or hack, but because of mass panic selling triggered by rumors and low confidence. OM wasn’t a small or obscure token; it was one of the largest cryptocurrencies with a multi-billion dollar market cap.

This incident serves as a stark reminder: no matter how strong a project may seem, taking precautions to protect your wealth is essential. In a decentralized system, self-custody means taking full responsibility for your assets.

To avoid falling victim to such sudden crashes, always use stop-loss orders. Set stop-market orders so that if a coin drops to a certain price (can be unrealistically low), your position is automatically sold at the best available market price. This way, if a crash happens, you’ll be among the first to exit before the damage worsens.

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