Dragos Stefanescu is a friend who has specialized in trading cryptocurrency like bitcoin, ethereum and less know but highly profitable virtual coins.
In this interview he is sharing 5 Tips that you Need to know in order to minimize risk and raise profits while investing in cryptocurrencies.
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In short, The 5 Tips You NEED To Know Before Investing in Cryptocurrency are
In the sense that you need to protect your virtual coins and have a hardware wallet where you can more safely store your funds.
Along with the hardware wallet, using a VPN and strong passwords are a Must.
The market needs to be regulated and once it is, the market might go down or up, keep an eye out for that, and make sure to always have enough Cash on hand to account for that, because it can hit at any point.
It might have a short term negative effect, and if it does you don’t really want to take out your cryptocurrency and turn it into traditional currency. You still want to be in the game. So have cash on hand.
3. It’s all cycles
Do not buy when the prices are at an all time high.
Do not buy at the top, always buy at the bottom, if you can time it!
4. Think in terms of cryptocurrency
If you invest with ethereum, think of your investment in terms of ethereum instead of evaluating the investment in $.
In the long term you want to make as much ether and bitcoin as possible. That’s why it’s useful to think and evaluate your investments in these terms instead of $ terms.
5. Create Connections – Give before you Ask
The best investments are reserved for the Inner Circle investors who really know what they are doing and who get the best tips before anyone else.
Offer your High Income skills (if you don’t have a high income skill, it’s a good idea to start developing one eg. copywritting, sales, marketing, seo etc.) to insiders of the groups as a way of giving first, before asking.