There are apparently four quadrants of money for anyone in the world and the quadrant you occupy determines the long-term financial health.
There are employees, self-employed persons, businesspersons, and investors. Investors get to earn money with little or no effort because they own capital that appreciates and assets that reward them with dividends. The good think about investment is that you can be an investor even as you occupy other quadrants in your life.
Unfortunately, most investors fail to make money when opportunities arise, and the main reason for the failure is their lack of awareness, and the inability to use the available tools for investment analysis.
This article solves this problem for you with tips to educate and inspire your cryptocurrency analysis to earn more than average returns.
Find out the basic cryptocurrency investment
You need to know at least what is going on in the investment world and where the hot money is going. In this case, read the online articles about cryptocurrencies and your mind will do the rest for you. You will start noticing news and stories about cryptocurrencies and they will give you additional clues of where to check next.
For example, when you hear about bitcoin, do you immediately see its potential or do you wonder what it is? IN either case, you have to check out some of the available information on this asset at least to have the basics.
Find a guide
A guide is important when because you are unsure of the territory you are entering. A guide also tends to cut the learning curve significantly since it comes from a lesson learned and most asked questions about the issue. In this case, using binance guide is a commendable choice since you will be getting a bigger to expert level of instruction about investing in cryptocurrencies.
A human guide would also be appropriate but unfortunately, when you are just starting, the objectivity of the advice given might not be so useful for you, and you do not want someone to have biases against you.
Start small
Always start small irrespective of what you think about a new investment because you cannot evaluate your risk appetite in advance. A rule of 10 percent of your investment capital is good. In this case, you start with just ten percent of what you intend to invest and keep on adding ten percent as you go along.
It helps you prevent a sudden loss of your money and it also gives you sufficient time to graduate your investment decisions as you become an expert in the particular assets.
Sometimes your minimum investment is below the minimum threshold, in such cases, you can go higher than the 10% but make sure you are not moving beyond half of what you had initially.
You must also consider investment risk beyond all the fine things about earning money passively and enjoying life with minimal work. Investors must adapt to new circumstances in the investment market and doing that often requires a change in your thoughts and expectations.
Therefore, stay patient and understand that you are risking capital for a reward. Stay focused on the process and use the right system as noted in this article and you will be fine.