New Coins: Observe Before You Leap
The allure of new cryptocurrencies can be strong, fueled by "Fear Of Missing Out" (FOMO) as early investors see rapid gains. However, new coins are inherently risky. Their prices can skyrocket or plummet suddenly due to factors like limited liquidity and the tendency of early holders ("free cell" coins) to sell en masse.
Don't jump in blindly with all your assets. Instead, observe the market, research the project, and understand its fundamentals. If you feel compelled to invest, only commit funds you are prepared to lose entirely. This disciplined approach minimizes risk and protects your overall financial well-being in the volatile crypto landscape.