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Invest cryptocurrency success using priceless mantras

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Shivangi Mujumdar Follow


Feb, 04 2021

Feb, 04 2021

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With three ICO main sales happening a day and many other ICO projects being planned every hour, it's natural to urge inclined towards investing during a promising cryptocurrency. Effective crypto community management by the owners would cause you to want to take a position in every ICO, but you want to take care before you spend on a project. 


Don't take too big a risk: Investing during a cryptocurrency may be a lot like investing during a lottery ticket, except that the stakes are too high. Regardless of what proportion of research and energy you've got put into understanding every facet of the project, it still a big gamble. Therefore, there's always a component of risk. As an investor, you ought to attempt to stand back from such threats. Invest what you'll afford to lose. Going bankrupt or falling into massive debt is the last item you'd want from an ICO project. 


Please go through the white book: Scrutinizing the white book can assist you to catch every red flag within the project unless the owner of the project has enlisted the assistance of a knowledgeable ICO white book writer to make the white book for ICO that he's getting to launch. Read the white book to know the merits and demerits of the project. 


Don't fall for scams: confirm not to click on random links on social media, emails, and blockchain community management groups like Telegram, Reddit, etc.  

Backup and secure your wallet: Write down the private keys and other essential information that you might need to recover your account. Don't ever share it with anyone. Activate your 2-factor authentication.  


Re-verify your actions: Always make sure that you are sending cryptocurrency to the correct wallet. Ensure that the Ethereum that you are sending reaches an Ethereum wallet and does not end up in a Bitcoin wallet. You will end up losing all your funds if you do that.  


Backup and secure your wallet: 

  1. 1. Write down the private keys and other essential information that you might get to recover your account. 

  1. 2. Don't ever share it with anyone. 

  1. 3. Activate your 2-factor authentication. 

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Shivangi Mujumdar

CBW - External Analyst


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