The wave of digital currency has left most people confused. From the common man to experts, few can fully explain what cryptocurrency is and what its future is. So, we turned to the one person who could help us out best. Enter The Doctor.
From passive earnings to managing portfolios, here are the top 3 pro tips from the man himself.
1. Choose Your Trading Platforms with Care
Not all crypto trading platforms are created equal. With the new wave of digital currency taking the world by storm, there are hundreds, if not thousands, of articles and news sources dishing out advice on which cryptocurrency exchange to choose.
The Doctor says that it is crucial to follow sources that you trust completely. Do your research with the help of advice from multiple reputable crypto experts, and only then decide on which platforms you will use.
2. Diversify Your Portfolio
The Doctor says that it is never a good idea to put all your eggs in one basket. Divide. Split your assets instead of investing them all in one cryptocurrency. If one digital currency were to drop and incur losses, others from your portfolio should be enough to help you tide over.
On the other hand, you might feel like investing larger amounts in those currencies that might give higher returns is a good option. "Why invest in others I don't fully trust?" You will get your answer when your trusted digital asset plummets, and it is your back-ups that save you from going under.
3. Think About Generating A Passive Income
When it comes to the world of cryptocurrency, not many thinks about a quiet, passive income as a viable option to generate revenue. But it's worth considering. Staking is the process of earning passive income from crypto.
Crypto staking might be the newest addition to the world of passive income. While it may not be as safe as several alternatives, if you want to enter the world of cryptocurrency, The Doctor says that it is something worth taking note of.
The crypto world is still new to some and baffling to most. Seen as a risky investment, it scares away people who cannot gather enough intel to deem it worthy enough. The Doctor hopes that his vast pool of knowledge could be a game-changer that helps people navigate this revolutionary world.