The cryptocurrency industry is not one to get involved in willy-nilly.
Deep research across the industry is needed before investing your hard-earned money into a volatile area of decentralised finance.
Today, we’ll be picking out the four most important things a potential crypto investor must do before getting involved in the space.
Do Your Own Research
This is undoubtedly the most important “must-do” before investing in crypto.
There have been several cryptocurrency horror stories of people spending their entire life savings on a crypto that’s booming before shortly rug-pulling all its investors and making off with their cash.
Most recently, the Squid Game token.
A token created based upon the popular Netflix TV show Squid Game soared shortly after its creation before collapsing almost 100%, which meant all people that invested their money lost everything.
Research doesn’t cost anything and could be the difference between modest crypto growth and losing everything that you ever worked for in your life.
Enter With An Investment Plan
Entering the crypto game with a plan on what you’re going to invest in, how much you’re going to invest, and how often you’re going to invest, is a key lesson.
Being prepared in life generally means you’re a step forward before getting involved in an activity you plan to undertake; financial preparedness in an industry as volatile and unpredictable as crypto shouldn’t even be anything to think about.
A monthly $50 investment into Bitcoin (BTC) for example may not turn into millions in a year, but could end up becoming a shrewd investment five years down the line.
Invest In What Your Passionate In
With a lot of these cryptocurrencies, there is a mission statement, an objective of some sort to help grow the industry and its potential investors.
For example, FIREPIN Token (FRPN) has a plan of investing in both the metaverse and NFT with the aims of developing NFT games and 3D metaverse games, as well as investing in companies that focus on play-to-earn games.
FIREPIN is in its second phase of presale with 13 days remaining.
For those passionate about the cross-chain capacity of blockchains, FIREPIN Token (FRPN) has plans with the likes of Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Binance Smart Chain (BSC), and Polygon (MATIC) to be boarded by blockchains.
Users will be given the option of choosing the blockchain they want their transaction to be on board with. The users will be able to consider both the transaction speed and price before making a transaction.
Security Is Paramount
Do not underestimate how important security is in crypto.
A hardware wallet should be an essential purchase for any crypto investor looking to lock up their crypto holdings for good.
With a hardware wallet, the owner is given a set of unique random phrases which they must retain in order to keep their crypto assets secure.
Join Presale: https://presale.firepin.io/register
Website: https://firepin.io/
Telegram: https://t.me/FIREPINOFFICIAL
Twitter: https://twitter.com/FIREPIN_io
Keywords- Cryptocurrency, FIREPIN Token, FRPN, NFT, Investing, Presale, Metaverse
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