At first glance, investing in something or trading on exchange seems very easy. Only according to the information of the full Internet, it can be concluded at first sight that trading on the exchange and investing in cryptocurrencies, for example, is very simple and highly profitable. But the opposite is true. What do you need to watch out for? Below you will find 5 tips that can help you in your investment beginnings.
Investing – Don’t have high expectations
Once you start investing, it is very important that you are careful and. Brokerage companies, which flood the entire Internet with advertising, claim that we can all make millions by trading on the exchange. However, these companies are primarily concerned with forcing you to trade with them for as long as possible, in order to withdraw as much money as possible from exchange fees. Above all, however, they monitor their own profit.
Try and make your own opinion
Although the introduction of this article may have a very negative effect, investing can be realistically profitable. But it is a gradual process that involves building successful strategies not for days or months, but for years, even decades! The idea that without previous experience we will make, for example, $ 100 a year a million is meaningless. First of all, it is important to try to make the first investment and thus try the pitfalls that come with investing. It is complete nonsense to start with a capital of millions of euros or invest everything I have. It is possible to trade on the exchange for example in the amount of 10 or 100 euros. Of course, each experience slowly moves us forward.
Count on the risk
Not only trading in cryptocurrencies, but also, for example, stocks and gold is a high-risk type of investment. Over time, every beginner will begin to understand that being successful means having a lot of hard work behind you. According to statistics regularly analyzed by brokers and analysts, only about 10% of all investors and traders are successful. This number alone gives us a clear signal that getting among the top 10% is a difficult path. Of course, there is no need to give up after one or two unsuccessful trades. Building a successful strategy is a matter of implementing thousands of deals.
Secure your wallets
There are a large number of hackers in the world of the Internet, with whom each of us fights, and we may not even know it. If you have money on an exchange or wallet, the first thing is to have your investments as secure and password-protected as possible. It is also very important to be careful about choosing the exchange where you want to invest or trade.
Use a hardware wallet
The best way to safely store cryptocurrencies in the long run is to keep them on your hardware wallets. This is probably the safest way to store our coins. If your computer is secured with a strong antivirus, then there is almost a 0% chance of losing your coins.
Conclusion on the topic of investing
The information in this article is for information purposes only and is not investment advice. Each of us will face different pitfalls when investing. Many of us have high expectations at the beginning think that everyone makes millions. But only the best and most experienced will really make such a profit. Therefore, the only thing that can be relied on when trading is: constantly educating and moving forward. The results always appear over time.
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Disclaimer: This article is for information purposes only and should not be construed as investment advice. Markets are unpredictable and without sufficient knowledge, trading is a gamble. We are not responsible for any losses. Market movements are difficult to predict, so we recommend considering the risk of trading on the stock exchange.