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Author Topic: What is the best way to invest in cryptocurrency?  (Read 6643 times)

Online JoyMarsha

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Re: What is the best way to invest in cryptocurrency?
« Reply #90 on: August 23, 2024, 11:36:04 PM »

To be honest there are some "oldies" investors who still try this "hype" based coins, as they can really gain much even in a shorter time but they are also so very wary since this kind of coins have the possibilities to lose value over night, so being careful and being attentive is one of the ways to avoid lossing much and just gains.

Hype coins are risky it's very volatile and it's hard to find which ones will exactly give you a huge profit or which ones are useless look at the Coinmarketcap and Coingeko most of the new coins after being listed on some exchanges its just dying. It's likely a churn-and-burn project they created it and later die once they successfully put the token or coin on centralized exchange with a value I'm sure what they hold they are the first on who will be sold their holdings but sometimes there are some projects become a success with lots of community like Pepe and Wif these two are just meme but look at the price how it increase in value.
The only way to find these potential coins/tokens is to become a risk taker who can invest in any new project so that you won't lose opportunity to any of these project once it would become the same as PEpe and WIF.
Hype coins are merely profitable at the time of their hype, the moment their hype is gone, anticipate a dump of price to happen to the hype coins.

Not every oldies investors end up well in investing in hype coins. I have invested in hype coins in the past, and I was carried away by the hype of the coin, which led to my loss of investment.

Investing in hype coins should be strictly short-term. You as the investor should learn to take your profits the moment there's a price increase, not to be greedy for more profits. They investor can choose to have reinvest at any time when the price of hype coins has declined

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Re: What is the best way to invest in cryptocurrency?
« Reply #90 on: August 23, 2024, 11:36:04 PM »

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