Cryptocurrency has been a hot topic for many, for quite some time now. However, not many fully understand the concept and it can be overwhelming if you are not familiar with the market yet. Like any other investment, it is best for you to first dip your toes into the crypto pool before you go deeper.
Last year, it felt as if crypto prices would only go in one direction and investors could do no wrong. But today, many cryptos are down 60% or more from their all-time highs. This is a stark reminder that these are risky investments that can go down as well as up.
Those who are financially educated and understand the fundamentals of crypto trading are able to make money even in a bear market. Those who dive into it solely based on emotions and no research or education may end up losing all their life savings even in a bull run.
Crypto Billionaire Xavier Aponte shares with us his 5 Golden Rules of investing in this booming blockchain technology. Xavier, who went from having $1.16 to his name in 2014 to becoming a Crypto Billionaire, is the founder and CEO of Juice Crypto Consulting and 5th Dimension Studios.
Golden Rule #1
Never risk the money you cannot afford to lose. Many people overextend themselves and cause financial crises for their families and themselves. RULE OF THUMB: Implement sensible risk control. By doing this, you will avoid making poor decisions, a maximum of 3-5% of your portfolio.
Golden Rule #2
One way to survive the volatility of crypto is to invest with a set plan of action in place before you execute any buy order. It is imperative to have a defined long and short term strategy. Having a long term strategy is challenging but it is an approach that will help keep even prolonged dips in perspective and prevent making irrational, emotional decisions.
Golden Rule #3
Plugging into a community, interacting with and understanding the thought process of like-minded investors is an underrated strategy. You could be the most experienced trader, having an understanding of all trends but you do not know what you do not know. There is immense strength in numbers. To ignore the power of a community, especially in the NFT space is a big mistake.
Golden Rule #4
Find a mentor. I cannot emphasize enough on the importance of being under the mentorship of someone doing better than you, having more experience in the industry, and being at a position where you envision yourself 10 years from today. Pick their brain and breathe the same air they breathe. This will help you, in the short term as well as the long term. While you will start making better trades and investments almost instantly, the mentality and billionaire mindset you will acquire will take you a long way in life.
Golden Rule #5
Find one niche you like in the crypto or NFTs space and stick to that. Find out what area you want adventure in this crypto space. There are so many niches to choose from. Having your foot in everything may sound attractive to a layman but is actually a big blunder. One person cannot have expertise in all niches. Identify what interests you the most and deep dive into it.
The Most Fundamental Rule:
DYOR. Never buy a cryptocurrency you haven't researched in depth. We all live busy lives, and it can be tempting to put a small amount of money into an altcoin you read about online. But it's your money and there's a lot of misinformation out there. Only you know your investment strategies and goals. Research doesn't guarantee success, but it significantly reduces the chance of being scammed or buying a crypto that doesn't have good long-term potential.
We thank Mr. Aponte for sharing his years of experience with us. We also want to inform our readers that Mr. Xavier's book which will outline his step by step investment strategies will be available to all very soon. This will give insights into how he went from being homeless to becoming a crypto billionaire, and how any person can achieve this too. In the words of Xavier,“Follow trends, they are your best friends”.
He is also a mentor to over 5500 investors across the globe and you may visit his website for more details of his course.
With this said, Xavier is on a mission to transform the lives of 1 million individuals across the globe and is ready to show the path forward to those who are COMMITTED to their dreams.
The question is – Are YOU Ready?
Business Name: Juice Fundamentals LLC
Facebook: @Bitcoin_Zae, @JuiceTrading @5thDimensionStudios
Twitter: @XavierAponte14, @5thDimenStudio
Discord: @thewizzardzae @bitcoin_zaeee
Instagram: @juice_crypto_consulting @5thDimensionStudios
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