📉 In the face of a crypto crash, protecting your investments is crucial. Here are five proven tips to safeguard your money:
1⃣ Only invest what you’re ready to lose: Crypto investments, like stock markets, come with risks. Always invest money you can afford to lose and avoid buying at high valuations due to FOMO.
2⃣ Book your principal amount and stay invested in the profits: Once you’ve made a profit, withdraw your principal amount. This strategy makes your investment risk-free and leaves you with funds to reinvest if needed.
3⃣ Diversify your portfolio: Don’t put all your eggs in one basket. Distribute your principal amount across significant and mid-cap currencies and rebalance your portfolio as needed.
4⃣ Keep your crypto in a non-custodial wallet: To better protect your money from scams and freezes, choose a non-custodial wallet. These wallets give users complete control through private keys.
5⃣ Understand the crypto rotation cycle: Just like in stock markets, not all coins can outperform others all the time. Understand these rotations and take a timely exit after a considerable bull run.
🔑 Remember, each bull run in a crypto market leads to a bear market and vice-versa. Reliable cryptocurrencies have historically bounced back stronger after every fall. Learning the foundation of the trade and implementing risk-management strategies can yield lucrative returns in the long run. 🚀
âš Risk Disclaimer: Cryptocurrencies investments are subject to market risks, please consult your financial advisor before investing.
To dive deeper, check out the complete article: https://droomdroom.com/5-proven-tips-to-protect-your-money-during-a-crypto-crash/
