When is the best time to invest in cryptocurrencies?

Cryptocurrencies like Bitcoin can experience daily (or even hourly) price fluctuation. As with any type of investment, this volatility can cause uncertainty, fear of missing out, or fear of participating.

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In an ideal world, this is simple: buy when the price is low, sell when the price is high. In reality, this is easy to say but hard to do, even for experts.

It uses a strategy called dollar cost averaging (or “ODM”).

ODM is a long-term investment strategy in which an investor regularly purchases an asset in small amounts over a period of time, regardless of price

The important thing here is to choose an amount that suits your budget and invest regularly, regardless of the price of the asset. This strategy has the potential to "average out" the cost of purchases over time and reduce the overall impact of a sudden drop in a particular purchase

The purchase of an asset that may increase in value over time.

Protecting yourself from risk by considering the worst case scenario in times of fluctuation.

Avoiding Fear of Missing Out and emotional trade-offs

“One of the important points in cryptocurrency investment is which exchanges to trade on. When crypto exchanges are chosen correctly, you can earn more from your investments.”

Patience and Discipline

Overcoming FOMO and FUD

Creating Logical Strategies Instead of Emotional Decisions

Store cryptocurrencies safely in a secure wallet

After purchasing cryptocurrencies, it is important to store them securely to keep them safe. Cryptocurrencies are usually stored in cryptocurrency wallets, which are physical devices or online software. The terms “hot wallet” and “cold wallet” are often used for these wallets.

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