Welcome to CryptoNet Academy
You are still new to Crypto & Blockchain?
CryptoNet Academy is a Crypto & Blockchain knowledge sharing platform that is given free and paid to those interested in learning it in detail.
Our mission is to educate the community about the transformational potential of crypto & blockchain technology, we provide well-organized lesson modules covering the key concepts you need to start your journey into the world of crypto and blockchain technology.
Are you willing to join cryptocurrency world?
Whether you have a financial background or not, smart investing is an important skill that everyone needs. Assets management and growth is fundamental to increase your wealth and no matter how much experience you have, it's never too late (or too early) to start learning. As cryptocurrency continues to solidify its role as the potential future of finance, here's what you need to know to get started.
Do your homework
Before you do anything, take some time to fill your mind with studying what cryptocurrency is. Start with the basics; you must have a foundation before you invest. Understand how blockchain technology works and is responsible for decentralizing the transfer of value through digital currency. Learn the difference between this and how a centralized financial system works. Learn the difference between cryptocurrency and traditional investment options. Unlike stock exchanges, cryptocurrencies are traded around the world all the time, making them highly volatile.
Also with thousands of cryptocurrencies available in the market to invest in, you must understand which one is right for you. For example, are you trying to invest for long-term gains or quick returns? Are you willing to spend thousands of ringgit or a small part of your savings?
The answers to these questions will shape your investment plan and everyone should know this before dipping their toes into the crypto world. Study the available cryptocurrencies, from those worth pennies to the price of thousands of ringgit for each coin and find the right one for you.
Learn Current Market Trend
Instead of diving straight into the market and setting up a crypto wallet, monitor the price of the crypto assets you want to invest in, first get all the information you need to monitor the performance of the crypto assets you're interested in. Keep a journal or portfolio and record the results you think and follow the current price. Examine the historical chart and analyze how the price has changed, noting any patterns between those that have seen large returns versus those that have declined.
At the end of the day, the goal is to grow your investment by introducing a cash position to a crypto asset that will hopefully increase over time. Therefore, buying on every dip is one of the best strategies to try to grow your investment – but how do you know when the price will rise again?
The answer lies in analyzing the charts and staying informed about the performance of the cryptocurrency market. News about the performance of certain cryptocurrencies and the market as a whole is available online and is usually the most accurate forecast of how it will fare in the future. If the price is relatively high, you may expect the next drop and vice versa, indicating a negative feedback loop on the price that is also present in the stock market. Once you have a look at the cryptocurrency market, you are ready to start investing.
Start with Small Capital
With every investment opportunity, this golden rule must be followed: don't put in more money than you're willing to lose. This adage also applies to the crypto world more than any other industry, given how quickly cash positions can shrink. Start with some money and test some strategies that you have found successful in the past. Websites like Binance and Kucoin is a great place to start exchanging cryptocurrencies, but be aware of the fees charged for each transaction.
Once you feel comfortable enough, create a crypto wallet to transfer and exchange Bitcoins and other cryptocurrencies directly. Create multiple wallets and accounts to keep your assets diversified and write down your passwords for each paper. If your performance continues to improve and become more comfortable, then you can start investing more.
Get The Sources & Summarize Your Planning
The Internet is filled with free and paid resources that can help support your decisions and increase portfolio value. Among the many news sites and information providers, make sure you only rely on sources you trust and can trust. Visit crypto news pages daily and always read trends and market performances to stay informed of your own cash position. Regardless, you still have to plan when to take profits and when not to invest. Choosing not to invest is just as important as buying the dip. As long as you keep reading and monitoring the market using online resources, you will eventually become knowledgeable and successful in investing in the crypto market.
Cryptocurrency is still in its early stages of development, so don't feel pressured to enter the space quickly. As disruption and industry creation continue to occur as a result of the emergence of cryptocurrency, it makes sense and sense for you to get involved now before it becomes the next financial success.
Finally, if you want to get constant guidance, deepen your knowledge of crypto, become a knowledgeable, successful and millionaire Coiner like some of the students of CryptoNet Academy. You can join the CryptoNet Academy student community circle led by experienced instructors in cryptocurrency and blockchain basics since 2015.
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