How to Trade Crypto Without Getting Wrecked

The crypto space is really getting so competitive as the day goes by and I must confess. A lot of people even though they are joining the crypto space, I can vividly say a lot of people are still failing. This actually keeps me wondering what might have been wrong. I discovered that a whole lot of traders actually got wrecked that in fact a whole lot of money most of the time get wiped out when trading. Today I want to talk about how you can trade the crypto market without getting wrecked.

The first you should do as a crypto trader is that you should learn before you leap. I purposely pick this as the first because that was actually what affect me when I started my crypto trading journey. Did not just enter the crypto space because you want to make money or because you heard a whole lot of people are making money. Make sure that before you buy any coin, you do your proper research about the market and even the project you want to get also.

The second precaution you should take as a crypto trader so that you will not be wrecked is that you should not invest what you can not afford to lose actually. That was also the mistake I made and I believe a whole lot of crypto traders also make that mistake. One of the things I have learnt about the crypto price is the fact that it is highly volatile. To be able to escape the Volatility of the market, make sure you are only able to invest what you are able to lose.

Image Source

The next one you should do is that you should actually protect your assets with good security. I have listened to a whole lot of people that their account was hacked and they lose lots of funds at the end of the day, this is actually something that you should avoid as a crypto trader. The truth is you should make use of 2FA, always make sure that you did not share your password and your private keys with other people and also make sure that you did not click any link anyhow.

The last one you should do as an experienced trader so that you will not suffer from it is that you should actually avoid chasing the hype. Make sure that you did not just jump into the coin because of the hype around, you should make sure that you have done thorough research. Also make sure that you did not trade with emotions. Make sure that you are able to control your emotions so that you will not enter the crypto space with emotions. Emotions are really deadly I must truly confess.