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The Coin Engineer family has been sharing our years of experience, valuable opportunities, and profitable projects with you for years, and we will continue to do so. Our video content, which discusses six main topics from our experiences, is now live on the X (formerly Twitter) account of the giant cryptocurrency exchange Binance!
Looking for advice on where to find the best crypto resources? @coinmuhendisim has you covered!
Share your own crypto tips using #BinanceTips and stand to win from $500 in #BNB
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Stop Losing Money! (Coin Engineer)
With the approval of the Bitcoin spot ETF, the approaching Bitcoin halving, and many other positive factors, new investors continue to come to the crypto world. However, it is also worth saying that the financial markets can be a risky and damaging sector when used unconsciously. Here are 6 golden tips that will help you stay safe:
- Diversify your portfolio: Instead of investing in a single asset, investing in a variety of assets by dividing your money will reduce your risk and increase your profit. This is safer than tying all of your investment to a single asset.
Different altcoins differ in terms of technology, use cases, and market dynamics. This diversity can offer you great opportunities if some altcoins perform better than others.
- Dollar-cost averaging: Regularly buying at certain time intervals will increase your profit rate. For this, Binance’s Automatic Investment product provides us with convenience.
With dollar-cost averaging, investors reduce the pressure to predict when the market will rise or fall. The crypto market can be quite volatile. By making regular purchases, you can reduce the effects of high volatility and get a more stable entry point over time.
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Avoid FOMO: The term FOMO, which you will hear quite often in the crypto world, stands for “fear of missing out.” You should not trade out of fear of missing out on opportunities. It is seen that there are both rises and falls in the cryptocurrency market. Investing in assets that have risen out of fear of missing out is very risky.
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Do your own research: You should do your own research. Investments made with hearsay information can often lead to disappointment. You should constantly develop yourself, read books, and be open to learning. For this, Binance’s Binance Research and Binance Academy products provide us with convenience.
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Use applications: There are many data to be followed in the cryptocurrency markets. You should use useful applications to easily track these data.
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Follow well-known and conscious investors: Following investors who are well-known in the industry, have gained experience for many years, and communicate them consciously can help you about the opportunities you missed.