In today’s fast-paced market, are you worried about where to invest your money? How would you know if the investor you are following will help you make safe investments? Read on, so, at the end of this article, you will be able to conclude whether to follow a crypto investor or not.
Over the past few years, digitalisation has increased. 2021 was considered a year of supremacy for all the crypto investors. It has increased the importance of crypto assets and has been growing expeditiously. Crypto assets are now seen as an investment option. Many people who started investing early in crypto assets have hit the big time. Hence, many people are still trying to reap significant benefits from it.
Due to its increasing importance, many businesses have taken crypto assets seriously and started using them. The crypto assets possess high liquidity and can help you gain higher investment returns, with a high-risk factor. It is why crypto assets are considered the future of all currencies. Many big businesses already use them in the form of currency.
However, the crypto market is highly dynamic. Not only that, there’s much misinformation about crypto assets. That is why people usually make the wrong decisions on crypto. All of this may sound highly overwhelming. Therefore, to keep your investments safe, you need an effective strategy; following a crypto investor for making your crypto-asset investment may help you from having any significant setbacks.
Why should I follow a crypto investor?
- The crypto market is prone to risks.
The crypto market is unpredictable, volatile, and prone to severe dangers. The high benefits we get from the crypto-assets equal the risks. They are prone to extreme downward spirals since they are highly volatile and speculative. Investing in crypto assets with no research may be risky. Following a crypto investor will help you grow your knowledge, which in turn will help you determine your risk-taking capacity. Self-analysis will give you better results.
- Lack of information.
Crypto assets are newly evolved, and their long-term viability must be evaluated. Hence, there is a considerable lack of correct information about the crypto assets available in the market. Proper knowledge comes from the right source. Do not just believe what you see on the internet. Validate the information floating before you make a decision for yourself.
- The legitimacy of crypto assets.
Currently, in many countries, the legitimacy of crypto assets is contested. It is prohibited or limited in many countries. It may increase the risk of investing in crypto-assets if you wish to move abroad, set up a global business, do foreign trading or toggle between nations. Following pro investors who have the same business and financial trajectory as yours will help you make a customised plan for yourself.
- Crypto investors conduct in-depth research.
The value of the crypto assets majorly depends on the international market. The crypto investors are the ones who study both the local as well as global markets. Hence, crypto investors can better predict the underlying risks and help you make the decisions accordingly.
- Market stability
The crypto investors follow various strategies to build a strong portfolio of many crypto assets. Hence, when you follow the right crypto investor, you can start learning multiple techniques to gain a stable place in the crypto market. Chances are, you will be able to achieve better returns and reduce the risk of making losses.
What to know about crypto investors?
Since crypto-assets came into existence, many crypto investors have been actively studying the crypto market. However, all the crypto investors are not the same. Choosing the right crypto investor is the key. The pros and cons of having a crypto investor may be intimidating. Hence, before following any crypto investor, you need to consider a few things such as their qualification, experience in the crypto market, etc.
A crypto investor is advised to have a bachelor’s degree in finance, blockchain, engineering, law, policies and other relevant fields. Having specific certifications related to the crypto market and blockchain is also essential. A crypto investor must understand the crypto market, economics, demand and supply chain, and other analytical skills. Apart from that, a crypto investor needs extensive experience in the relevant field. Crypto is a dynamic industry; you learn more when you experiment.
In short, a crypto investor or advisor has a proper understanding of the blockchain technology and may be registered as an investment advisor or hold a certification such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), etc.
Whether you are a beginner or a moderate-level crypto investor, following professional crypto investors with the respective qualifications and experience in the field may help you build a strong portfolio of different crypto assets such as Bitcoin, Ethereum, etc. By following these experienced investors, you will also be able to learn new strategies and make decisions accordingly.
Why should I NOT follow a crypto investor?
It is essential to know why you wish to start your crypto journey or why do you want to continue it. Only you know your needs about:
- your crypto investment journey,
- your risk appetite,
- your short or long-term financial goals,
- any other personal goal you have in mind,
- your income source(s),
- your other financial backups,
- your country of residence and
- other aspects.
A professional crypto advisor may create educational content to clear your concepts or doubts. However, one strategy that works for a set of people or investors will not work for you or won’t always work for you. Sometimes a person might have a huge social media fan following or could be a financial influencer. However, you will never know if the spread content is for people’s good or just for popularity. Every financial advice should be taken with a pinch of salt. Your study of your finances and your discretion will always help you after you *take* advice from your advisor.
You might come across many investors who are not that well versed in crypto. New coins are being added daily to the crypto market and hence, are gaining much popularity worldwide. As the crypto assets are uncertain and difficult to predict, an investor’s successful performance in the past may not guarantee their future success. Crypto is a new element in the financial market. Hence, many investors do not have enough real-life experience in investing.
In a nutshell
The importance of crypto assets has been increasing every day. Crypto assets have many benefits, such as anonymity, high liquidity, etc. The crypto assets are affected by inflation and are free from government regulation. However, like the other investment markets, the crypto market is unpredictable and prone to risk. Therefore, following a crypto investor in your crypto planning may help you reduce the chances of having losses. It might help you build a strong portfolio and stay stable in the crypto market. Before you follow a crypto investor, check whether the respective crypto investor has the required qualifications and experience in the field. Only following the right crypto investor after thorough research may be beneficial.
About Us:
Unocoin is the best cryptocurrency exchange in India to buy and sell Bitcoin, Ethereum and various virtual currencies. The new update takes Unocoin — The bigges
t cryptocurrency platform in India, to the next level. With a one-of-a-kind combination of features, Unocoin is now the best cryptocurrency exchange in India. The multiple features make it easy for beginners to use the app and enjoy trading in the crypto market. The Systematic Buying Plan, which can be started with as little as INR 10, helps people who don’t have time to track and manage their investments actively. The Crypto Basket enables you to diversify your crypto portfolio based on market capitalisation or volume and minimise losses because of FUD(Fear, Uncertainty and Doubt). The goal of Unocoin is to make cryptocurrency easy, and therefore, it has listed more than eighty-seven cryptocurrencies. This number will keep on increasing shortly. All the investors need to do is register and deposit INR, which they want to be converted into any cryptocurrency (Bitcoin or Ethereum etc.) Additionally, Unocoin has given a new dimension to how one can trade in cryptocurrency through its iOS and Android app
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Disclaimer:
Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).