Buying and trading cryptocurrencies can be an emotional experience. It’s fast-paced and there are lots of different kinds of trades and purchases to make. Some people try to make money off the volatility of cryptocurrency prices through short-term day trading. Others are looking to hold long-term investments and hope the cryptocurrencies they buy will be a store of value.
All this makes buying and trading cryptocurrencies fun and potentially profitable. But it can also be charged with FOMO and FUD, which creates a risk of making decisions based on emotion rather than facts. To mitigate risk and avoid losing funds in the cryptocurrency market it’s crucial to keep emotions in check. The following guide is designed to help you avoid letting your emotions dictate your trades.