by 1. Set strong passwords
Protect the entrance to the wallet and to your exchange account with long, strong passwords. Install a password manager, write down the generated passwords on a piece of paper and hide it away. Everyone knows that there are hackers in the world who break everything and steal everything. And everyone is sure that something definitely will not happen to them.
2. Configure 2FA verification
Cryptocurrency exchanges enable two-factor verification. In case of loss of access to Google Authenticator on your Smartphone, you can only restore access to the exchange using this backup key. During the configuration of this verification method, the exchange will give you a secret key. Save it – take a screenshot, print it on a piece of paper.3. Verify on exchanges
Bitcoin Trader Login also allows you to verify your identity and regain access to your account if you lose passwords or lose Google Authenticator. Yes, you will need to highlight your personal data, indicate the address of residence and take a selfie with a passport. But verification is a guarantee that your money will be safe.4. Do not buy “on highs”
Growth is followed by a recession. How soon the coin will return to its previous position and whether it breaks the upper mark is unknown. The first major mistake of novice traders is the purchase “on highs”. Seeing that the currency has gone up, the newcomer is in a hurry to jump into the last carriage and grabs a coin at a sky-high price.5. Do not panic
If a coin was bought at a lower price, then it’s okay – the trader takes profits. If panic selling happened after the purchase “on high”, then this is a tragedy – you have to fix the losses. The second major beginner mistake is Panic Selling. Seeing that the coin suddenly rolled down and is not going to stop, the newcomer freaks out and merges it before it’s too late.6. Do not be greedy
Strictly determine your threshold, after which throw off a coin and take profits. 20-30% is already good. If you wait a moment, and your coin has flown up, that is, shot, do not be greedy and do not wait for it to reach a peak and begin to fall.
there is a chance that the first wave of growth will be one more, and more, and more. When the coin falls, you can re-purchase and withdraw another 10-15%, but re-purchase is always a risk.
7. Just hold it
The recent sharp, but a short-term drop in Bitcoin, and with it the entire cryptocurrency market with subsequent panic, once again proved the value of this rule.
The best rule in the highly impulsive and emotional cryptocurrency market, where everything is constantly jumping, is to collect the will into a fist and hold a coin until better times. Know, sooner or later the very moment will happen when you wake up as a millionaire, but for this, it is important to be patient and not to listen to alarmists, foretellers, and skeptics.
0 comments: