Jeffery Sparks 
When investing in cryptocurrency, it’s essential to adhere to some key investment principles. First and foremost is diversification – this helps manage risk by spreading gains across several coins so losses from one coin don’t outweigh gains in another coin.
Dollar cost averaging can also help when buying coins, as this allows you to buy more when prices are low and less when prices rise.
1. Don’t be swayed by hype
Crypto markets can be very unpredictable, so you need to be wary of allowing yourself to be drawn in by hype. Too often people make irrational investment decisions due to social media posts and fear of missing out (FOMO).
When investing, keep the age-old rule in mind: only invest what you can afford to lose. Also use dollar cost averaging to help minimize price volatility – that means buying fixed amounts every month regardless of price fluctuations.
2. Don’t be afraid to lose
Cryptocurrency investing can be risky, so only invest money that you can afford to lose. A smart strategy would be dollar-cost averaging, which allows you to purchase more cryptocurrency at lower prices and less when they rise.
Investment experts who successfully make money with crypto understand market dynamics intimately, so buying high should never be done on impulse.
3. Don’t be afraid to diversify
Cryptocurrency can be an unpredictable market and it’s easy to become obsessed with finding that next coin. Diversifying your investments helps lower overall risks while still offering up potentially impressive gains.
Investment in cryptocurrencies that provide tangible utility is of the utmost importance, so when selecting your projects make sure they have transparent teams, fact-based roadmaps and strong business fundamentals.
4. Don’t be afraid to take risks
Cryptocurrency investing may seem intimidating, but it doesn’t need to be. With the proper guidance and planning you can achieve great returns by avoiding common errors that lead to big losses.
Be sure to diversify your portfolio, use dollar-cost averaging, invest only what you can afford to lose, and secure all cryptocurrency in a hardware wallet.
5. Don’t be afraid to be wrong
Cryptocurrency prices fluctuate and fluctuate wildly, making it hard to know when it’s the best time to sell and lock in profits.
Consider selecting a large cryptocurrency broker or exchange that supports staking (where you pay a small fee to earn passive income from coin holdings), as well as investing in assets with high liquidity for quick trading should price drops occur.
6. Don’t be afraid to be right
Cryptocurrency investing may be risky and unpredictable, but it’s an excellent way to diversify your portfolio. Learn from any setbacks, and invest wisely.
With new altcoins emerging daily and established tokens expanding their capabilities, there are always exciting new opportunities. Researching options is of the utmost importance; something which may appear promising may lack substance, leading to loss of funds.
7. Don’t be afraid to change your mind
As any experienced investor will attest, risk is an inherent part of any investment, including cryptocurrency trading. But with proper precaution and adhering to basic investing tenets you can reduce risks and make wiser investments.
Rule number one when investing is only risking what you can afford to lose. Dollar cost averaging is particularly applicable to the volatile crypto market, where volatility is a primary feature.
8. Don’t be afraid to be wrong
When investing in cryptocurrency, it’s essential that you are prepared for losses. Therefore, we advise starting small and only investing what can afford to lose.
“HODL” stands for “Hold on for Dear Life,” and applies equally to any market, particularly one so volatile as cryptocurrency. Value fluctuations can quickly take shape on this exchange-traded fund (ETF) market and may result in large drops within hours.
9. Don’t be afraid to be right
Though the cryptocurrency market can seem foreign to traditional investing rules, applying simple principles like dollar-cost averaging can bring success. Just make sure not to invest more than you can afford to lose and stay disciplined!
Choose cryptocurrencies with established real-world utility and the potential to extend it in 2023, as well as those offering staking that can help generate passive income streams.
10. Don’t be afraid to be wrong
Keep in mind that all investments involve some degree of risk – this applies even more so to cryptocurrency investing.
Price swings of 10% or more are commonplace in crypto, and can occur either up or down. Acknowledging this type of volatility, focus on holding onto core positions while staking smaller satellite tokens to minimise losses.
Storage of coins securely is also crucial, given the risk of hacking and security incidents in the cryptocurrency space.
