Investing in cryptocurrency and other digital assets has never been easier. Online brokers, controlled exchanges, and even decentralized exchanges allow investors to buy and sell tokens without going through a traditional financial institution and paying the heavy fees and commissions that come with it.
In this video made by Crypto Jargon, we'll look at 4 of the most common mistakes that cryptocurrency investors and traders make and how you may protect yourself from unnecessary losses.
- FOMO Investing. FOMO following is when someone invests in a company immediately after its share value rises to 50%-60% in the market.
- Not understanding the compounding effect. Compounding is a powerful tool used by long-term investors. Professional investors calculate the compounding profit in the fluctuation of the company's market value before investing.
- Proper Risk Management. To understand the market, where to invest, how much to invest, invest less in volatile companies, invest more in a stable company, etc.
- Ignoring the effects of inflation. Inflation is another powerful tool. If the inflation rate in your country is 7%-8% and you gained 5% from your investments, then you're at a loss in total.
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