We get asked a lot about cryptocurrencies at Southridge Capital. Today we will discuss the golden rules of cryptocurrencies and what you need to know about the market.
1) You are taking a risk by investing in cryptocurrency at Southridge Capital. Some are able to turn a few hundred dollars in a few thousand. Others are not so lucky. You should invest a portion of the money you are prepared to lose. That way if you lose, it is not going to matter much.
You have $5000. You are okay with investing $1500 of the $5,000. Invest the $1500 and call it a day. That way you still have $3500 in the event of a loss. Your money situation may be somewhat different, but you hopefully see the point we want to make. For more details visit Crunchbase.
2) No one can predict what will happen in the market, not even those so-called “experts in the field.” The experts may have an idea, but they cannot guarantee an outcome 100%. Some of these so-called experts charge a fee for their “insight.” We recommend that you stay with a professional money manager in the field and block out the noise.
3) You may feel confident with the choice you make, but you should verify and re-verify just to be sure. What goes up on the market one minute will eventually come down. You also need to give them the correct bank address. Some investors found that out the hard way. The money went to someone else. We cannot trace the person who cashed the check.
4) You should know everything there is to know about the cryptocurrency you are investing in. You need to know the long-term potential. Cryptocurrency coins are created for a reason. You need to know the meaning of the coin or there is no use investing.