What is Cryptocurrency?
If you are new in the cryptocurrency market then you have to know about what is cryptocurrency. Cryptocurrency is digital currency which based on a blockchain technology. You are also familiar with Bitcoin, Ethereum, Cardano, BNB etc. So currently there are total 12,700 plus crypto in circulation according to Coinmarketcap.
4 Tips To Invest In Cryptocurrency Safely.
Tip : 1 Research Exchanges
Before you invest your money in Crypto, learn about what is cryptocurrency, how its work and secured exchanges. These stages give the necessary resources to buy and sell cryptocurrency, yet there are approximately 500 exchanges to look over, as per Bitcoin.com but only some are safe like Binance, FTX Pro etc. Do your exploration, read news and talk with more experienced cryptocurrency trader.
Tip : 2 Search How To Store Your Crypto Currency
As you save your money in bank, similarly if you buy cryptocurrency then you have to store it. So either you can store it on an exchange for example our blog post Best Crypto currency Exchange Or in a digital wallet. Also there are many different types of wallet each has there own advantages, requirement. Similarly with exchanges you should investigate of their storage before investing.
Tip : 3 Always Diversify Your Investment
If you are in crypto currency world then you have to always learn that diversification is the main key of any good investment strategy, and it's true when you are investing in cryptocurrency. Don't invest all your money in single coin, there are thousands of option it's better to invest your money in several coin.
Tip : 4 Always Prepare For Volatility
Cryptocurrency market is highly volatile, so always prepared for UP and DOWN. You will see many manipulation in prices. If your mental health and your portfolio are not handle this then cryptocurrency market is might not wise for you.
After all this if you plan to participate then do your research and invest conservatively to start.