Buy low and sell high
The most basic tip to profit from cryptos is to buy low and sell high. In fact, not all people can apply it to their investments, no matter how simple, as they may have bought cryptos high due to FOMO (fear of being left out) and have sold cryptos low because of fear of losing most.
A good tip to avoid this situation is to learn how to use the stop-limit function to set the take-profit and stop-loss prices and avoid being influenced by the reactions of other investors.
Note that price adjustments always precede an appreciation, in which the price drop can be seen as an opportunity to increase your portfolio position at a low cost. And valuations end after testing the next level of resistance.
Long term investment
Short-term investments require more complex strategies and deeper analysis.
In this sense, beginners can adopt long-term investing.
A good tip is to buy when the crypto is in the adjustment period and set your desired selling price for a long period (a week or a month). You can continue to buy at a lower price but don’t sell the crypto until the set price is reached. After all, following the charts for real-time monitoring, it is possible to identify some patterns that help make trades more assertive and profitable.
1000% return is not uncommon in the crypto world, but most cases happen with long term investments above 1 year.
Keep learning
The blockchain technology behind cryptocurrencies is something that is revolutionizing the world we live in.
If you decide to start your crypto investments, you should keep up the enthusiasm to learn new things. It could be a project white paper, crypto graphics or technical analysis.
That way you can have more confidence when making decisions in the face of market volatility.
As a writer, Richard is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.
