10 Things to Consider If You’re New to Cryptocurrencies

1. Invest with the Amount You Can Get Out of Your Eye

Transactions in cryptocurrencies are riskier than in other investment instruments. Volatility and deviation are excessive. Irregular movements take up too much space. Fixed and horizontal movements are hardly said. Volatility for short periods of time within minutes can create an environment of danger and risk. Bitcoin has been around for more than a decade and has less risk than other cryptocurrencies, but that doesn’t mean it’s completely guaranteed and risk-free. Therefore, when investing, invest with minimum amounts at the beginning and amounts that will not affect you.

2. Analyze and Research

If you want to be in the process of investing in any cryptocurrency, research its technology and function. Be sure to read economic books and articles for informational purposes, and you should make your investment decisions patiently without haste, taking into account technical analysis and on-chain analysis.

3. Do Not Invest with the Psychology of Losing

When investing in any instrument, don’t be afraid of missing out (FOMO). Because this may affect your portfolio in a negative scenario. Be sure to know what you are buying. If you have bought a falling cryptocurrency, the result may turn negative for you.

4. Treat Unrealistic News with Suspicion

In times of too much manipulation in the market, caution and caution should be exercised. You should make unique inferences by following the markets.

5.Care about your security

A large part of the attacks on crypto money exchanges occurs as a result of the lack of infrastructure. For this reason, it is necessary to pay special attention to the choice of crypto money exchange as well as the crypto currency to be invested. The ICRYPEX cryptocurrency exchange has secure transaction automation outside the system in order to minimize connection risks. The ICRYPEX security team consists of technology, bank and operations experts and employees certified in data security, as well as the system is constantly under control and its operations are audited to ensure secure transactions. It works in the fields of crypto money storage and protection with its own technology. Several tiers of cold storage services are one of these studies. For critical situations that may occur, technical operations, transaction volume and orders, as well as blockchain reactions are constantly observed for 24 hours. It is recommended by Icrypex to make accounts more secure with Two-Factor Authentication (2FA) for extra security. 2FA verification is considered a method of protection that is almost impossible to pass by since it is completely exclusive to the investor phone.

6.Research Projects

It doesn’t mean that a cryptocurrency is cheaper to trade around $10 than Bitcoin, which is $35,000. Not all cryptocurrencies have emerged on equal terms. To understand the value of a cryptocurrency, it is necessary to look at who is working on it, the project it is offering, its overall utility.

7.You can store your cryptocurrencies in cold wallets

Cryptocurrencies are bearer assets, meaning they are assumed to be the rightful owner. If it is lost or stolen, it disappears. Decentralized financial platforms have been highly exploited recently. You should not forget your keyword in the cold wallet. You can also give these keywords to 3rd parties or you should keep in mind not to forget them yourself.

8.You Can Also Buy Part of Bitcoin or Any Cryptocurrency

You don’t need to buy an entire cryptocurrency. For example, if a cryptocurrency is worth $100, you can buy $20 worth of it.

9. Check the Consequences of Taxation

Taxation is important in some countries for several reasons. If you bought a cryptocurrency for $5 and its value has increased 3 times, you can report your earnings from this capital and be subject to taxation.

10.Don’t Get Stuck on Screens and Prices All the Time

Prices can vary from day to day, hourly and sometimes within minutes. Constantly following the price will tire you physically and spiritually. Consider this process as a long-term investment and shape your life accordingly. Of course, with the right analysis and the right opportunities. After looking at regular intervals and daily, weekly and monthly (if you can decide on this), you will see that it is the right investment and that you give up your attachments.

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