New investors often write that they lost money with cryptocurrencies and nearly always this goes back to 1 simple but major mistake!
With this short post / tip I hope I can prevent some future losses made by new investors.
Their is one rule above all and that is:
Do your OWN research!
If you are about to invest in any kind of cryptocurrency don’t be a sheep and do what other people tell you to do. Never do an investment in the fear of missing out! Just research your targeted cryptocurrency (read their whitepaper, google the persons responsible for this project,…) up until the point you are confident!
I know this is a basic tip but still this is the cause of so many losses I read about from other people!
Hope I could help you!
Cheers,
elleok
Completely agree!
I have found the legitimacy of the team being the largest factor in the success of a coin. Especially if the team is willing to paste themselves all over a project, their names and reputation are on the line. Look them up on LinkedIn if you can find it!
Can't agree more. There's so much noise out there, you'd be a fool not to do your own HW.