Skeptics around the world consider cryptocurrencies the largest bubble in history. But what’s the difference? For ten years now, traders have been tracking charts, enjoying the ups and downs, and watching people predict the cryptocurrency collapse over and over again. Bitcoin alone was buried 90 times last year. But what did they see when they woke up on the first day of 2019? Bitcoin and other cryptocurrencies are alive and well, and trading continues. From Trustedbrokerz you can get the best support for the same now.
The year has just begun. Traders will cash out profits from transactions, track charts for choosing the time of purchase and sale, and patiently wait for their Lamb. But we must not forget what the market participants faced in 2018. It was a difficult year and did not see a new bull market. Honestly, many were penniless.
How to survive the storm of crypto trading in 2019? Here is a simple but effective guide that will help you stay afloat protect hard-earned money, trade responsibly and, of course, earn money on the industry without becoming a victim of hackers and scammers.
Don’t fall for 2018 style scam
Although many traders made money on their investments last year, there were also many who did not sleep at night because of the many cryptocurrency scams, hacking exchanges and fake ICOs. Some even had to abandon the New Year feast with relatives in order to avoid shame.
Coin check lost approximately $ 530 million in NEM coins. This is the largest cryptocurrency exchange hack in the short history of the industry, surpassing the Mt hack. Just a few days after the Coincheck hack, robbers stole 195 million cryptocurrencies from Bitgrail. Other exchanges, including Coinrail, Bithumb, and Bancor, also fell victim to the attacks. According to experts, all cryptocurrencies have been stolen from exchanges by at least a billion dollars.
But not only crypto-exchanges were affected. Cryptocurrencies themselves have also been subjected to cyber-attacks, including phishing, pump and dump, Twitter fraud, fake ICO projects, market manipulation, and so on.
What a responsible crypto investor should not do in 2019
In the New Year, you need to take care not to fall for stock scams and other scams related to cryptocurrencies.
Do not leave money on exchanges
Cryptocurrency exchanges that store billions of dollars are actively attracting hackers. Considering how much money has already been stolen from these platforms, it is worth taking care of the safety of coins. How? You need to keep the crypto off the exchanges, especially if you are not a day trader. And even day traders should periodically transfer profits to a hardware wallet in order to secure it.
Do not chase the first counter Altcoin
Crypto trader portfolios now consist of an army of altcoins. But remember that not all altcoins are the same. According to Dead Coins, about 1,000 altcoins are already dead and will never return to the cryptocurrency market.
In order not to see the obituary of the altcoin in which you invested, you need to carefully approach the choice of coins for trading. Be sure to use valuable coins for diversification, and not those that will sooner or later disappear from the market.