How do you prevent FUD? Four Tips on Managing FUD

FUD is an acronym for ‘fear, uncertainty, and doubt.’

When FUD sweeps through the crypto market, traders and investors may give in to the prevalent sentiment and panic sell their assets based on what they hear in the news or on social media.

1. DYOR

Regardless of the state of the crypto market, you should always take responsibility for your decisions and not outsource it to other people or media organizations. Do your own research (DYOR) and make sure that whatever you are doing is the result of your own thought process. The best way to combat FUD is to arm yourself with the widest possible range of information on the conditions in the market and attendant risks. For users looking for resources on topics related to blockchain, crypto, and security in the digital asset space, Binance Academy is a great place to start. 

2. Use Binance P2P 

With Binance P2P, you can navigate a volatile market by finding the best offers in a secure way. Trusted by millions of users worldwide, each P2P trade on our platform involves escrow service protection, ensuring that counterparties involved in a pending transaction are protected from incidents of theft or scam. 

Moreover, if a user has any questions or concerns regarding a trade or an issue on our platform, they can seek assistance from our customer service team via a live chat. We offer 24/7 customer service to address any urgent needs.

3. Consider reliable stablecoins

Stablecoins, when properly designed, can offer a less volatile alternative to other digital assets. Thanks to the mechanisms of maintaining stable value, which is tied to that of underlying assets such as fiat currencies or commodities, stablecoins can act as a safe haven in turbulent times. A common strategy that experienced traders use during periods of volatility is increasing the share of stablecoins in their portfolios until the market-wide troubles blow over.