Tips – Mistakes to avoid making high returns on crypto

tips and tricks

INTRODUCTION:

Investing in Bitcoin is one of the most rapidly growing sectors in the world today. Almost everyone on the world is interested in investing in cryptocurrencies. The fact is that anyone may start trading bitcoin, but not everyone will be successful in making a profit greater than the amount invested, and some may even lose money. We’ll talk about how to make more money by trading crypto currency in this article.

TIPS TO FOLLOW TO MAKE HIFH RETURNS ON YOUR CRYPTO INVESTMENT:

DIVERSIFY:

In layman’s terms, diversifying your investing portfolio means putting your eggs in multiple baskets. Diversifying your investments helps to spread out the risks and optimize long-term rewards. During market swings, each investment performs differently, smoothing the return, which is significant. Diversification also offers the following benefits: it makes your portfolio more shock-resistant, improves market cycle management, increases risk-adjusted returns, and leverages growth in other crypto assets.

KEEP TRACK OF PAST PATTERNS:

Fundamentals drive the market in the long run. Regardless of the market’s short-term direction, assets with excellent fundamentals are long-term value builders for investors. Past market patterns will disclose comparable tendencies and will reward fundamentally smart investment products. Past market trends are readily available on the internet; all you have to do is put in the appropriate term.

DO RESEARCH ON CRYPTO EXCHANGE:

Before you invest a dime, learn about cryptocurrency exchanges. These websites make it easier to buy and sell cryptocurrencies. There are over 500 exchanges to choose from, according to Bitcoin.com. Do your homework, read reviews, and speak with an experienced investor before you begin. There are a number of telegram groups where you may get advice and discuss personal experiences. The Bitcoiva exchange is one among them.

DeFi STAKING:

DeFi staking is a method of earning yearly interest by storing your crypto assets on specific, autonomous platforms known as ‘decentralized apps.’ DeFi is a subset of the cryptocurrency business that aims to place traditional financial services such as loans and insurance on the blockchain. If you solely plan on buying and storing cryptocurrencies, DeFi staking is a terrific approach to get a yearly return on your invested money. It’s important to note, though, that not all cryptocurrencies may be staked.

AVOID THESE COMMON MISTAKES IN CRYPTO TRADING:

BUYING LOW AND SELLING HIGH:

Most financial investors make the classic error of buying high and selling cheap. This is also one of the reasons why most traders and investors fail to profit from their investments. People do, in fact, lose money on a regular basis as a result of it. People grow anxious when the value of a coin decreases. Because they are inexperienced with the foundations of crypto, most crypto investors are unable to hold on to their money. They fluctuate in price with the market. They’re now losing money since they’re selling for less than they paid for it. Crypto investors should try to understand why the price of a coin is suddenly soaring before investing their hard-earned money into it.

PUTTING MORE MONEY INTO SOMETHING THAN YOU CAN AFFORD:

It’s tempting to put all your money into bitcoin during a bull market when the gains are swift and furious. But please remember that this is a very new and unpredictable business. Fast & Furious-style. We often hear about the person who turned $1,000 into $100,000, but we seldom hear about the hundreds of others who lost a significant amount of money investing their last dollar. Don’t invest your rent money or groceries into Bitcoin. Put your money only in places where you can afford to lose it.

YOU DON’T KNOW HOW TO READ A BASIC TRADING CHART:

Once you’ve grasped some fundamental concepts like supply and demand, you may begin learning how to interpret trade charts, commonly known as technical analysis, and, more crucially, how to tie the project’s fundamentals to these charts. By evaluating past data, technical analysis backed by sound fundamentals and financials of the project may help you better anticipate the future. You’ll get a sense of when markets are poised to change or whether assets are mispriced.

COPY TRADING:

Copy trading is a sort of investment trading in which you copy a professional investor’s deals automatically. This is a fully hands-free method of trading bitcoin that eliminates the need to research and watch the market. While this is not safe. Because when you copy trade someone it’s one thing when they gain profit but also there are many chances to lose your money when their trading strategy does not work well.

NOT HAVING A CLEAR TRADING STRATEDY:

Most rookie traders have no idea where their entry and exit points are before they start trading. As a result, they trade on faith, and they are continuously chasing peak prices. Before entering a trade, it’s nearly a need to have both entry and exit points.

WITHOUT AN OBJECTIVE, TRADING IS POINTLESS:

Why are you interested in cryptocurrency trading? Is it because everyone else is doing it, or do you see it as an investment opportunity, or simply a method to earn a fast buck? While the aim’s appropriateness might be contested, it is critical to have a goal in mind before engaging in crypto trading. A goal-less trading technique is like driving without a GPS when you don’t know where you’re going.

CONSIDERING CRYPTOCURRENCY TO BE “EASY MONEY”:

Making money by trading any type of financial instrument, whether stocks and shares, commodities such as silver and gold, or cryptocurrencies, is not easy. Anyone who asserts otherwise is most likely trying to trick you into making cryptocurrency mistakes.

Why Bitcoiva is the best choice for crypto investment..?

 Bitcoiva is a comprehensive cryptocurrency ecosystem that provides all sorts of traders with a professional trading experience. It is the greatest altcoin exchange that allows you an enormous variety to design your portfolio based on your demands, with 170+ coins and 560+ currency pairs. It also comes with the most powerful wallet, allowing you to trade on spot, margin, futures, and lend all with the same wallet. Users may feel confident that the most competitive pricing for their crypto assets will be obtained. Absolute fund protection in addition to unbreakable security feature like 2-factor authentication. As a result, Bitcoiva is a well-known exchange with a large user base.

How to start investing with Bitcoiva..?

Step 1: Create an account with bitcoiva: https://www.bitcoiva.com/register/22102147

Step 2: Complete KYC process with appropriate documents.

Step 3: Make deposit.

Step 4: Start trading.

CONCLUSION:

When you’re new to crypto trading, it might be tough to make money, but you shouldn’t become discouraged. Instead, stay focused and adopt different tactics, focus towards understanding your trading style. Keep in mind that making a lot of revenue does not happen overnight. You must work hard as well as smart.

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