Being involved with the cryptocurrency market is not something that everybody can handle. You have to be emotionally and mentally strong so you are able to handle any market conditions. As we all know, the crypto markets can be a very violent and volatile environment. My single biggest piece of advice for anyone trading coins is, DO NOT be overly invested financially, meaning don’t invest money you aren’t willing to lose.
With that being said, cryptocurrency markets can be very shady and unforgiving. When currency is circulating the internet, it leaves room for hackers to take advantage. A few examples of exchanges that have been hacked are Mt. Gox and Coincheck. Don’t even get me started on Bitconnect and how they built a scam to massive scale. The point I’m trying to get across is that we are always going to face risk and uncertainty dealing with cryptocurrency markets. Not only do we have to accept these market conditions we also have to be able to thrive in them as well.
It’s dealing with various market conditions that will make you a stronger and more confident trader/investor. You have to do your research plan and simple. Don’t jump into any coin just because you “saw something on twitter”. Make sure you take the time to plan out your trades so that you give yourself the greatest possibility to be successful. Also, know what you are investing in.