Hello beautiful members of Hive, it’s a new week and I am specially wishing everyone a happy week.
I will like to share some principles as regards crypto currency investment.
Two most obvious news in the crypto space which highly influences the state of mind of an investor is that of a bull and that of bear market.
Of course when it’s a bull run every investor expresses happiness, joy and gladness.
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But the opposite is the case.
I have read about a crypto investor who pumped all of the company business money he worked for into FTX before the issue. Right now, he is currently been hospitalized.
In a bit you can become multi-millionaire through crypto and also in a bit of time, you can as well become the next victim but I don’t hope that for even my enemies.
I will be sharing some crypto investment principles one must pay attention too in order not to be on the regretting side of your journey. Yes, crypto investment is a journey of return or no return.
1 – Do not depend on crypto as your only source of income
This principle is self-explanatory but I will emphasize on it more. If you wish to trade crypto, do not depend on it as your only source of income because trade seasons may differ and anything can happen at any point but our expectation is for a bull so we can take out profits.
2 – Do not invest what you cannot afford to loose
This is where most crypto investors may not agree with this point of mine. Not quite long ago, before the FTX crash, I knew of a neighbor who was a sales representative in a marketing company, Infact he is the one I referred to as been hospitalized because of crypto.
This young man invested his company money into FTX and according to him, he wished he could just die to save his head.
He usually give sales report by the end of every week to his company headquarters which I wouldn’t like to mention here.
He made a risky decision and decided to invest someones company funds into FTX, hoping to get some profits back in the other week.
I understand he was trying to invest huge and earn huge in return but things went the other way round for him. I just hope he regains.
The point I am trying to pass down is that invest what you can afford to lose. No body prays for a bear period but bull. Do not invest more than you can afford to lose.
3: Diversify your investment
A lot of people make the mistakes of putting all their eggs in one basket,(all of their investment in one basket. it’s a huge risk. It is essential as a crypto investor to diversify your investment.
For instance,
I trust BNB so I can invest what If I lose it won’t be a big deal for me, I also trust HIVE, so even if I lose, I can decide to leave my funds and someday I will recover back the losses. It is not advisable to invest into one asset alone when there are hundreds of them doing fine.
4: Invest your funds into a busy blockchain
Crypto is expected to be a solution to man current issues.
I know of HIVE block chain which is responsible for the provision of innovative contents as information.
In our real time world, we cannot do without information. So this makes HIVE a busy block chain because it presents a solution.
Do not invest your funds into a system that doesn’t offer a solution, No magic behind profit making, but your funds are been used to carry out a good investment which add more profit in return.
I know of binance which serves as an easy means crypto and fiat exchange.
This information has been able to present some principles as regards crypto currency investment.
For those who don't know about the recent FTX crash, you can have a view of this statistics inorder to know the kind of impact it will have on emotion.
Thanks for reading, I am wishing you all a happy week.
