How many people buy crypto without even understanding what’s backing it, then sell at a loss and blame the market makers?
That article about asking three questions before buying insurance applies just as well to crypto. $BTC is currently at 80222, down 0.5%. The underlying asset is crypto; funds are backed by stocks and bonds; platforms and channels just take a cut.
Before you buy, ask three questions: What exactly am I buying? How do I hold it? Where am I buying it from? If you can’t answer, pass. Meme coins backed by nothing are pure sucker bait, yet people still pile in.
$ETH is currently at 2324, down 1.25%. If you can’t explain what’s fundamentally supporting trending tokens like ENA and NEAR, don’t touch them. Chasing the rally at these levels is risky—there’s no shame in sitting it out for now.
Want to see whether your judgment about what’s really backing an asset is any good? The Qafila million-prize-pool event is the perfect test. Give it a couple of rounds and find out.
Do you figure out what’s backing a coin before buying, or jump in first and ask questions later? Comment 1 or 2?
#Write2Earn #BinanceSquare #BTC Crypto #TradingTournament
That article about asking three questions before buying insurance applies just as well to crypto. $BTC is currently at 80222, down 0.5%. The underlying asset is crypto; funds are backed by stocks and bonds; platforms and channels just take a cut.
Before you buy, ask three questions: What exactly am I buying? How do I hold it? Where am I buying it from? If you can’t answer, pass. Meme coins backed by nothing are pure sucker bait, yet people still pile in.
$ETH is currently at 2324, down 1.25%. If you can’t explain what’s fundamentally supporting trending tokens like ENA and NEAR, don’t touch them. Chasing the rally at these levels is risky—there’s no shame in sitting it out for now.
Want to see whether your judgment about what’s really backing an asset is any good? The Qafila million-prize-pool event is the perfect test. Give it a couple of rounds and find out.
Do you figure out what’s backing a coin before buying, or jump in first and ask questions later? Comment 1 or 2?
#Write2Earn #BinanceSquare #BTC Crypto #TradingTournament
