Why you should have a critical eye in Crypto.

In the world of cryptocurrency, you should be very wary and very careful. You should not just go with what someone or some CEO says but check and confirm all happenings in regards with the coins you are investing in. There are just too many scams in Cryptocurrency to take whatever anyone says as Gospel. You have to remember that when you are dealing with money, you have to take all the emotion out of it because those emotions will make you make bad decisions whether its selling too early or holding onto a coin for too long. Also when you are dealing with money, especially cryptocurrency, you are the only one that is looking out for yourself. Everyone else has their own agenda and their main concern is how to manipulate other people into doing what they want them to do so you must watch your own back.
Just because you are holding a certain coin, you should not get defensive about it if someone brings up questions or red flags about the coin. You should seriously look into the allegations and not just dismiss it as “FUD”. Don’t start your research with the mentality of trying to disprove it either. Look at all the information and then decide. Remember, if a company always misses release dates or does not hit milestones, there is more likely than not a problem so don’t give them a pass on it. If they announce partnerships and there is no confirmation from the other “partner”, then those partnerships could easily be fake. There have been so many people that have gotten scammed like this that you must have a critical eye for the coins you are into, otherwise you are likely to lose a lot of money.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s