Now it is clear that 2022 will give a defining edge to Crypto trading in India. There have been a lot of volatility in the past but that didn’t deter the investors in past few years. They were hopeful of a regulatory mechanism kicking its way in sooner or later. This looks very possible now.
Though the market has largely been subdued, there are chances that it will soon see a spike.
There are some rules that all investors need to follow to ensure they are on top of their crypto game in 2022. Take a look –
1. Research
Every step that you take should be backed by solid research. Keep yourself updated with the latest developments in this sector. Equip yourself with as much information as possible on now the coin, the platform it trades on and the underlying technology. Keep interaction and discussing with those who have got more experience in this sector.
2. Avoid the hype
Do not fall for the hype as it is still untested water. There is always a high chance of a coin surging and then losing the ground quickly. You should see the signs smartly. Understand whether the rise of because of a bubble or there are solid grounds behind the surge.
3. Wait, before you go for the kill
In this game, patience is going to be your most important asset. You should let your investment grow naturally, over a period of time. You should start with market leaders like Bitcoin, Ethereum etc. since they have established credentials. New coins may give you a jolt after a phenomenal rise initially.
4. Volatility
Just like share market, you have to get the expertise of seeing early signs of volatility. You have to consider risk facts before investing anything. It is not certain that investment will rise for sure therefore you have to be a keen observer.
5. Beware of scams
Do not fall for any lucrative investment opportunity. There is no easy money.