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Generic tips to make your portfolio grow

By CrSanity | Irregular Format | 12 Apr 2023


It is a good time to talk about managing a portfolio as Bitcoin speared through a psychological barrier of 30.000 USD. Let's dive into some generic tips and my observations. Wish you a pleasant reading.


Conviction

In order to make your investing comfortable, you need to be convinced. Not only of the projects you invest into but also the amount of money you wish to put in. Rethink your investments, because sometimes it is not worth putting too much risk into your portfolio.

Back to the basics

What I learned is that it is not worth chasing the gains, they will come at the right time. A 1000X is nice, but it is only that high because only a few achieve it. By spreading your investments across some of the bigger, more reliable, and established projects you can decrease the risk of getting burned.

Patience

Creating a reliable source of income always takes time. There are random events that will bring you a shower of coins, but those are rare. It is always better to stick to a more flexible and constant way.  Some good investments will run away because you decided to wait, but it will create good deals as well. 

DYOR

It is always better to rely on your own knowledge than to follow someone without care. Even if someone calls themselves a "Crypto Expert" you will never know if their intentions are not malicious. Someone's loss is someone's gain, this proverb describes trading any assets too well. 

More assets = More work

In order to maintain a good shape of your portfolio it's good to find out how much time you want to spend. More assets equal diversification but it also means more work. 

Do not use leverage if you are not ready to lose

Leverage trading is outstanding in two cases. Making profits and making losses. You can multiply your asset's value with it, but it comes with a risk of losing all of them. Leverage is a semi-professional tool, and should be used with caution. 

Double-check

Scams come in different shapes, colors, sizes, textures, and smells. Always double-check the links you are about to click, and the best way is to avoid using search engines for doing DeFi and other things related to crypto. Most if not all of the projects will have Twitter, Facebook, or Telegram accounts which will provide valid and legit links. The double-check rule applies to them as well. 

Self Custody and Decentralization

Crypto was created to empower us. By giving people their ownership of assets, back from the predatory claws of financial institutions. Crypto Exchanges are not far away from the same thing we wanted to escape from. If you can't afford a Ledger or Trezor to hold your crypto, you can always try the browser addons and mobile wallet versions. The same goes for trading, DEX'es are here and most of them offer the same if not more options for their users. 

What is your opinion? Tell me in the comments!

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None of the information in this article should be considered financial advice, it's my analysis and facts I wanted to share with this wonderful community.

If you enjoyed my post and you want to support me you can do it here:

Reflinks for tools you might need to use when doing crypto.

Honeygain - Bandwidth selling platform, register, install an app on your device, and start earning today!

Peer2Profit - Also a Bandwidth selling platform, easy to register and install!

Rollercoin - 8bit style gaming/crypto mining simulator platform that lets you earn while playing!

KuCoin - Withdraw your Publish0x rewards without a fee here! One of the biggest crypto exchanges with a lot of tools!

Coinbase - Great all-purpose platform for crypto, earn yourself some free crypto for completing quizzes!

Binance - Biggest Crypto exchange in the space, lots of tokens, and very low fees!

Also, check out my social media

https://twitter.com/CrSanity

https://www.instagram.com/crsanity/

https://medium.com/@miloszstrehlau

 

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CrSanity
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I'm a crypto investor, enthusiast and a beginning writer for Publish0x.


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