THREE STEPS TO CONSIDER WHEN INVESTING IN CRYPTOCURRENCIES
Crypto expert Adam Morris, co-founder of Crypto Head, offered the three steps potential crypto investors should consider before parting with their money:
1. Work out your goals – Are you investing to try and get absurd returns? Then altcoins might be the way to go short-term. However, if you are looking for safer investments and long-term wealth growth then it’s wiser to invest in cryptocurrencies that have been around longer and have shown that they can withstand the test of time. It all comes down to you and the level of risk you want to take on.
2. Work out how much time you have – Do you have enough time to be able to keep up-to-date with all of the trends in altcoins? If not and you are new to investing/tech in general, it’s going to be much safer to invest in more known long-term cryptocurrencies.
3. Trade safely – Make sure you are using an exchange you trust and that doesn’t have insane fees. Also, make sure that you store your cryptocurrencies in an offline-wallet such as a hardware wallet. “Not your keys, not your crypto” – if you don’t have custody of your cryptocurrency in your own wallet you are at risk.”
