It is risky, and if it was not, everyone would have been doing it. By understanding how the market works and what are the potential risks involved, one can save oneself from one’s doomsday. Otherwise, it is difficult to trade. Because crypto is going mainstream, there are a lot of scams too.
You need to beware of them.

The crypto currency is not just about HODLING. If you have some spare time, you can get into it and all the related details. You can also prefer to trade cryptocurrencies. There are many traders who take advantage of minor market fluctuations to make profits.

When the market is down, I look for coins which seem to be profitable in the future. Does the coin hold a chance of recovering and making a better price after the crash? I check the security of the coin’s network, and do a thorough research on every required aspect. Then, if I find it suitable I increase the holdings of my coin, or buy a new coin.

In 2022, there will be a lot of new cryptocurrency projects, therefore I want to become involved and start investing in more of them right away. The Metaverse, P2e Games, and Web3 merit consideration. There are a lot of meme coins as well; I'll actually buy more coins to keep for at least the next 12 months.

The Russia-Ukraine War led to an initial short-term effect on the cryptocurrency market, especially when Ukraine announced that they would accept international aid through cryptocurrency as well. However, there seems to be no crucial long term effect, except it might cause problems for Russian citizens.

Russian residents are increasingly relying on cryptocurrencies, since the Russian currency has plummeted to record lows as a result of global sanctions imposed in response to the Ukrainian incursion. However, in the midst of the ongoing conflict with Ukraine, Russia's central bank has once again urged the government to impose a blanket ban on cryptocurrencies, since the Russian authorities believe cryptocurrencies are extremely hazardous. If Russia decides to outlaw cryptocurrency, Russian residents residing in foreign countries, who are likely to hold cryptos practically worth nearly 2Trillion Rubles, will be affected.

You do better when you set your own trading rules. Explore the market the way you want to try to apply different strategies until you have gained experience to decide what to do and what not to.