This message is for new investors interested in cryptocurrencies. If you are just starting out and want to enter this fascinating world, I suggest a simple exercise to familiarize yourself with crypto investment.
Before even thinking about investing money, take the time to acquire as much knowledge as possible about the cryptos that interest you. Once you feel ready, I do not advise you to jump into action with your money immediately. Here is what I suggest:
Choose 7 different cryptocurrencies that seem promising to you.
Imagine that you have invested in these cryptos and follow their evolution.
Your goal? Try to imagine a gain of at least 20% on 5 of these cryptos. Do not regret anything, because this is an exercise designed to work on your emotional tolerance.
Repeat this exercise at least 3 times to assess your ability to manage market movements.
If you manage to reach your fictitious goals, then choose an amount that you are willing to lose and actually invest in one of the 7 selected cryptos.
There you have it, this is how your crypto adventure begins. Some might disagree with this approach, but this is my personal opinion. I think it will help you understand the market better and learn how to manage your emotions before taking action. If you agree, feel free to share!
