How to start without painful losses?
🚀 5 lessons I wish I knew before my first investment in cryptocurrencies
When I entered the world of cryptocurrencies for the first time, I was very excited... but I was lost! 😅
Over time, I discovered that I made simple mistakes, but they impacted me significantly. So I decided to share with you 5 important lessons I wish someone had told me when I started.
Let's see together! 👇
1. Understand the game before you get into it 🎮
Cryptocurrencies are not just money on the internet; they are a technology based on blockchain, and there are complex ideas behind them, but they can be understood easily if you take your time.
Make sure you understand the difference between major currencies (like Bitcoin and Ethereum) and the new currencies that appear every day.
Read about the types of wallets:
Hot wallet: connected to the internet and easy to use.
Cold wallet: safer because it's not connected to the internet.
🎯 The most important thing: take your time learning first; don't rush into investing.
Click here
https://www.binance.com/activity/referral-entry/CPA?ref=CPA_004PX7P7KJ
To register on Binance and get a bonus worth $100
2. Invest with your mind, not your emotions 🧠
The market is very volatile, meaning you could wake up to find huge profits... and the next day lose them all!
Ask yourself:
"Am I ready to take risks?"
"Can I afford to lose the amount I invested?"
Be mentally and financially prepared for any scenario.
⚠️ Golden rule: "Only invest money that you can afford to lose without impacting your daily life."
3. Research then research then research! 🔍
Don't buy any currency just because your friend told you about it, or you saw a video saying it will "skyrocket."
Before you invest in any currency, ask yourself:
What project is behind it?
Who is the team working on it?
Does it have actual use?
Or just noise?
Participate in crypto communities online and ask and learn from people who have gone before you.
💡 If the currency doesn't have a clear official website or is not explained properly... it likely has no real value.
4. Security is not a luxury 🔐
Choose a reliable trading platform, preferably licensed or at least well-known globally.
Enable two-factor authentication (2FA).
Don't keep all your money on the platform; store part of it in a cold wallet.
Be cautious of suspicious links or messages asking for your login information.
💥 Heartfelt advice: hacking one account could make you lose everything you've built!
5. Follow a plan... not the market mood 🗺️
Before you start, define your plan:
Will you buy periodically? Or just once?
Will you sell when you reach certain profits? Or do you prefer to hold for the long term?
Follow the news but don't let every rumor change your decisions.
Use simple strategies like:
Dollar-Cost Averaging (DCA): means you buy a small amount regularly instead of putting a large amount all at once.
✅ Important: Stick to the plan, even if the market tempts you to change your direction every time.
💭 Quick summary
If I could go back in time, here are the things I would do from day one:
Read and understand before any investment.
Start with a small amount that I can afford to lose.
Look for every really good currency.
Use strong protection tools, especially cold wallets.
Stick to a clear plan and monitor the market without rushing.
