These days when we see many incidents happening in crypto where people lose money so it becomes very important to follow the safety tips. Crypto is money so when we lose crypto we also lose money. It's not that the funds are lost but we also lose the possibility to earn returns on the investment or the profit that we can earn with price appreciation. So there are multiple losses that we face if we lose our crypto coins because of any situation.
These days lot of people are talking about the safety and security of crypto funds and they are recommending the use of hardware wallets because that is the safest method available so far. If we do not have the hardware wallet then we can also go for a decentralized wallet which is also a better option. While we talk about the safety and security of our fund then I think we need to follow certain steps to ensure safety and add another level of protection.
Extreme High Returns
I hope that money of us still remember this situation of Luna where the offered returns were much higher as compared to the market. It is obvious that these companies advertise that there is the least risk on the investment as they are stable and reputed companies but I believe you should not trust them. We need to follow thorough research before investing in such platforms because it can be risky and we might lose our money.
Unregistered investments
Tera so many platforms that are claiming that there legit and have a good Corpus of funds invested on their platform. We need to do some research on them to find out how they work and invest only when we feel it is a registered company in any country. Company registration has nothing to do with the crypto regulation and it is important for any company to get registered so that they operate in a proper manner.
Trust your research
I believe that we should not trust anyone in the market when it comes to investment because no one is perfect. We should realize on our research and invest only when we feel like doing it and not because someone else is saying it. We have to understand that it is our money and whatever profit or loss we are making is going to affect us. Sometimes we may not be able to determine whether we should invest or not and this can also result in some missing opportunity kind of situation but that is okay because this can also be others around.
Crypto is a very big ecosystem and just because we use me for some opportunities does not mean that it is the end instead we may get many more in the future. So be prepared for that and plan things accordingly so that feature opportunities can be managed in a better way to bring more profitability to the crypto holding/investment.
These are the 3 points that I want to discuss in this post but there are many that I will try to explain in my future publications. Lets us follow the same and refrain from doing anything that can cause us loss. We are in crypto to make money and to loose just because of some people with malicious intent.
Thank you so much
Stay Safe