I have been in the Crypto space for 7 months now. I will share with you 3 tips that has work well for me . Follow them to help grow your crypto portfolio. There are other pointers of course but these are my top 3. Hope they help you in your Crypto adventure. Incorporate them as you develop your own unique style. Each person is unique in that each one has different financial goals, risk tolerance, and investment capital. Do your due diligence and only invest funds that you can afford to lose.
First tip : Do your own due diligence. This is so key. Don't just invest based on what people say. Do the homework. Read about the crypto you are interested in and really study its merits. Start with basics and read up on bitcoin, cryptocurrency, and blockchain technology. Really understand the blockchain technology behind cryptocurrency. See how this technology is the wave of the future and that mass adoption will eventually occur. Get familiar with Coin Market Cap and get familiar with top 20-30 coins listed. You must immerse yourself in studying cryptocurrency. This is the big time. Pretenders will be eaten alive and lose their money. From here you can select top coins and study up on them. Read what people are saying. Take it for a grain of salt and research to see if you come up with the same conclusion. You've got to become "the man." You have to make your own decisions and be accountable for them. After all, it is your money and no one cares more about it more than you. Your agenda is to to grow i! Others have other agendas and it is usually for their own benefit and gain. Be cautious and don't be gullible. Decide for yourself! Count only on yourself.
Second tip: "Buy and hold." This is my favorite. I just invest my monies on top coins (ie LTC, BTC, Ethereum, Monero) and load up on them as big as I can. Increasing my ps everytime the market "dips" and the prices become a bargain. These coins are steady and have good track records. They will lead the charge as cryptocurrency goes mainstream. They will rise and rise big. Only question is, how much do you have of them. It is all about coin collection. Hold big positions in them and profit big when they inevitably rise in price. All this is based on the premise that cryptocurrency / blockchain technology is the future and will be a world wide adoption. This will be historic and represent the biggest transition of wealth. A financial revolution to say the least.
Third tip : Diversify, diversify, and diversify. You've got to spread your investments. Spread it among different platforms (ie mining, lending platforms). Don't put all your eggs in one basket. Spread the risk and diversify. You've got to stay in the game to allow your investments to grow.
Like I said, there are other important tips but these are my top 3. Use them wisely and I hope they work as well for you as they have done for me. Good luck and may your trades go in your favor.
Disclaimer : Never invest funds more than what you can afford to lose. This post is my own personal opinion/speculations/ insights . Please do your own research before making any investment decisions. I am not a financial adviser, nor am I giving any financial advice. If you make any trades after reading this post, you accept accountability and responsibility for any lose that you may incur. By reading this post you acknowledge and accept that.