Crypto investing in Kenya can be a risky business. But with solid knowledge and a few good habits, you can become a successful crypto investor.
The first step to becoming a crypto expert is understanding the market’s basics. Learn about how it works, who the players are, and what makes each coin unique.
You should also know how to buy and sell your coins — how much do they cost? What’s the best way to get them? Where do you go for help if something goes wrong?
After getting your bearings, it’s time to start practicing some good habits. Here’s what we recommend:
1. Being Patient
One of the essential habits of a crypto holder is patience. You need to be patient if you want to see your crypto portfolio grow. If you are not patient, you will sell your coins at the first sign of trouble and miss out on massive gains.
The crypto market is highly volatile, and thousands of people buy into coins when they are at their peak, only to sell them immediately when they start dropping in price. This is not a smart move because it can lead to massive losses.
You should always wait for the right time before selling your coins because there will always be another dip in the market, but it will only last for a while.
2. Not Checking Charts every Day
If you are a cryptocurrency investor, you must have come across many people constantly checking the charts for their favorite coins. This is a very common habit that most crypto investors have because they believe it will help them make better decisions when it comes to buying or selling cryptocurrencies.
However, some investors only check the charts daily because they know it can be very stressful and time-consuming. Instead of checking the charts daily, these investors focus on other things, like reading articles about blockchain technology.
3. Staying Informed
The best way to stay informed about the cryptocurrency market is to follow a reliable source of information. The most popular sources for such information are news websites and social media platforms such as Swerri on Instagram.
On the Swerri website, you can find information about the latest developments in the crypto industry. You can also read articles written by experts with years of experience.
Regarding social media platforms, there are many groups where you can share your ideas with other traders. If you want to make money in the trading market, you must know what everyone else is doing and what they say about it.
4. Believing in the Future of Crypto
A successful crypto holder’s last habit is believing in crypto’s future. It takes a certain amount of faith to invest in something that doesn’t have an immediate return and instead relies on long-term value.
You can’t just think about how much money you’ll make today or tomorrow — you have to believe there will be a payoff down the road, even if it’s not for years.
That doesn’t mean that you should ignore short-term opportunities, though! It’s important to balance your long-term investments with some quick wins here and there.
But remember why you’re doing this: because you believe in cryptocurrency as an asset class and want to get in while it’s still cheap (or while others are afraid).
In these examples of success, we have seen people who made it into the crypto space and became successful. These are those who took an active approach to it, did their homework before entering the market, and knew how to capitalize on good opportunities.