The Iron Law of Cryptocurrency Investment: Nine Rules to Help You Avoid Detours

1. Don't rush to get on board, understand the principle first

Seeing others making money in the cryptocurrency circle, are you also tempted and want to rush in to get a share of the pie? But remember, impulse is the devil.

2. Be careful to chase the rise and kill the fall, and wait for the best time

The market is always full of temptations. Seeing the price of a certain currency soaring, can you also want to chase the rise?

3. Diversify investment to reduce risks

Don't put all your eggs in one basket. This is a classic saying in the investment world. The same applies to cryptocurrency investment. Diversifying funds into different currencies can reduce the risks brought by a single currency.

4. Set a bottom line and protect the principal

Before investing, you must set your own bottom line. This bottom line can be the maximum loss you can bear, or it can be your stop loss point. Once you reach this bottom line, you must decisively stop the loss and protect the principal.

5. Learn more and improve cognition

The knowledge of the cryptocurrency circle is updated very quickly. Only by continuous learning can you keep up with the pace of the market. Understanding the basic situation, market trends, policy trends and other information of a certain currency can make you more comfortable in investment.

6. Be careful of high-leverage transactions and use them with caution

High-leverage transactions can bring high returns, but they are also accompanied by high risks. Once the market trend is unfavorable, it is easy to blow up the position.

7. Timely stop profit

In investment, greed is often one of the important reasons for failure. When you see that you have made money, you want to make more money, but you may end up with nothing. After making a certain profit, you must stop profit in time, take out part of the profit, and maintain a steady investment rhythm.

8. Stay calm

The market fluctuates greatly, which can easily make people panic or greedy. But remember that emotional transactions are often irrational.

9. Time is a friend, wait patiently

In currency investment, patience is a very important quality. Don't think about getting rich in a short time, but have a long-term vision and a patient mentality.

Finally, if you are a complete novice and you are excited and want to rush into the cryptocurrency world when you see BTC hit a record high, then I suggest you follow me first, learn about the cryptocurrency world from me, and improve your basic skills.