Investing in cryptocurrencies is exciting and new for a lot of people. However, before you jump on an exchange or platform and add your money, here are 10 tips to help you get started and invest wisely:
1. Invest Only What You Can Safely Lose
The rule for any investment is to put in what you can lose. Cryptocurrency is highly volatile, so there are many ups and downs. Though it’s a little less with the stock market, you still shouldn’t invest money that you need for bills and other purposes.
While it is exciting, you shouldn’t take out loans or put in your life savings. Start off small if you have to, but don’t go overboard and risk losing everything. People have lost their cars, homes, and entire retirement savings from investing in crypto.
2. Study/Research Beforehand
It’s a good idea to learn more about cryptocurrency before you invest. As with any new thing, you should study it and know what you can. Don’t blindly…