Mark Tencaten | Four Tips for a Safe and Profitable Investment in Cryptocurrency

Cryptocurrency has garnered huge attention over the past few years. And the reason is those who have seen it coming and invested a long ago have already made their fortune out of it. However, it is important to know there are people as well who have lost more than half of their wealth.

The point is cryptocurrency is a highly volatile market, and sometimes even the most seasoned crypto investors may feel apprehensive about the market. However, it doesn’t mean you feel disheartened and decide to stay away from the market. What Mark Tencaten, the cryptocurrency expert, suggests is the timing and the choice are two important aspects of making big in the cryptocurrency.

Here are the four effective investment tips, as suggested by Mark Tencaten that can help you take wise cryptocurrency investment decisions.

1.     It is important to be an active investor

Just invest and forget doesn’t work in the crypto market. Money doesn’t grow in this market by just sitting back and relaxing. It is important to track the market often, thanks to the volatility that crypto market offers. And, you tend to miss out on some of the biggest buying, selling or rebalancing opportunities, if you are not an active investor.

2.     Make sure you invest only what you can afford to lose

We don’t mean to scare you but only those who are not bothered by the fear of losing can make it big in the crypto market. But, it also doesn’t mean that you start with thinking that you are going to lose or start investing mindlessly in the market.

The idea of saying this is that you need to be prudent and fearless at the same time when you decide to start investing. Make sure you start with budgeting your expenses. What you can do is make a list of all your expected long term, near-term expenses, and short term goals. Because once you know what the minimum and maximum money you would require over short or long period, you are in a better situation to plan your crypto investments accordingly. It can also help you understand for how long you can stay invested in cryptocurrency, especially during dips.

3.     Averaging but with caution could help

Averaging refers to buying or selling additional cryptocurrencies every time market falls or rises. But the problem is averaging can go either way. It may be possible that market falls further after averaging and the value of your currency declines further. Therefore, it is important to be considerate about other factors while averaging in crypto market. You can seek advice of crypto expert Mark Tencaten on when to average your purchase or make a move in the crypto market.

 

4.     Don’t sail against the stream

When it comes to cryptocurrency, it is important to stay updated about the recent and of course upcoming news and trends. Like stock market, cryto also depends on news and trends. Mark Tencaten, the crpto expert, advises to wait for the right time or a signal to initiate a purchase or sale.

Mark Tencaten can also help you learn how to read chart patterns that would prove useful in making right investment decisions. At the same time, it is wise to make a diverse portfolio in cryto market. Investing in diverse currencies rather than putting all the money on just one or two cryptocurrencies may help prevent unexpected losses.

These are just a few investing tips. To ensure you get good returns from crypto market, you should seek help of experts like Mark Tencaten, who will help you learn intricacies of the market.