The cryptocurrency market has been around since 2009, but it wasn’t until the past few years that cryptocurrency investments started to gain massive popularity. In 2017 alone, there was a 2000% increase in people worldwide trading cryptocurrencies. And Earnity co-founders Dan Schatt and Domenic Carosa are well-aware of this.
Due to the hype surrounding crypto, many new traders have entered the market but lack knowledge about how to start trading, what to look out for, and what makes a successful trader. This article will try to explain what goes on in the mind of the successful cryptocurrency investor and how to become one.
The first step in every successful cryptocurrency investment is to buy it. One can buy Bitcoin/Ethereum online and use a cryptocurrency exchange to convert Bitcoins/Ether into other cryptocurrencies. This way, they don’t have to worry about which exchanges support which cryptocurrencies because they all support the top two. Thus, if one invests in Bitcoin today, they can transfer their Bitcoins to another exchange anytime and convert them again into any other cryptocurrency you want.
Also, before jumping in and risking real money trading cryptocurrencies, it’s best to know what one’s goals are and how much one can afford to lose if things go wrong. This way, it is easier to keep perspective when times get rough and persevere in trading and investing until it pays off.
Dan Schatt and Domenic Carosa also know that a good cryptocurrency trader understands that no one has an idea where the market will take them tomorrow, a week, a month, or a year from now. This means that it’s crucial to keep one’s eyes open for opportunities and have the guts to seize them as soon as they appear. To become a successful cryptocurrency investor, one should try to maximize those opportunities by being calm and collected in times of high volatility and aggressive when the market is at a low or sideways phase.