Hey all,
First post in quite awhile! I posted on Steemit pretty solidly around summertime and have since taken a several month break from Steemit. I have not, however, taken a break from looking into, and investing in, the cryptocurrency space overall. There are TONS of cryptocurrencies and projects available today and more are coming online all the time. The market was red hot for a large portion of 2017 with tons of new money flowing in.
The best advice I've seen for anyone looking to invest money into cryptocurrency is this:
Only invest in cryptocurrencies/projects that actually solve a problem or have legitimate purposes/use cases.
This really is invaluable advice for newbies and crypto "veterans" alike. Often times, I'll find myself experiencing "FOMO" (Fear Of Missing Out) when I see a newly discovered cryptocurrency making huge percentage gains. Sometimes its best to just take a step back and not let your emotions cause you to make rash decisions.
Just keep in mind that all cryptos are certainly not created equal and you should be very careful when investing your hard-earned money into any of them. Only invest what you can afford to lose and diversification is also a must. Cheers!
@doggedfi
for the Minnow Support Project,
brought to you by rockstars such as
@aggroed, @acidyo, @ausbitbank, @canadian-coconut,
@teamsteem, @theprophet0, @Someguy123, and more.
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Awesome advice and awesome didn't know you were an msp greeter.
And also, I have to add.
Invest only on the money you are willing to lose. After buying the crypto coins and tokens, imagine you already lose that money - to avoid heartaches.
haha
Indeed. So easy to get wiped out if you aren't careful. Don't invest the "rent money" for sure!!
Welcome back!