Are you thinking about joining in on NFTs or crypto? Awesome! This is an extremely enjoyable place to be in and there’s plenty of exciting happening in the near future and it’s an excellent opportunity to be involved.
We understand that the excitement of learning something unfamiliar can be daunting, however, which is why we’d like to offer some of the best tips for investing in crypto or non-fungible coins (NFTs).
The majority of the advice here is something you’ve heard before. Because, really investing in crypto or purchasing NFTs isn’t much different from many of other things you can do online. Therefore, a lot of recommendations are similar. However, it is never a bad idea to keep an overview of proper online practice. Therefore, without further delay we present our top recommendations for dos and don’ts of investing in crypto.
- Do your research
It is the number one choice with reasons. If you choose to invest in cryptocurrency or purchase NFTs it is your obligation to do a thorough research on the coins, companies services, etc. that you’re involved in. I’m sorry to sound like a mother regarding the matter, but it’s the money you’re making, and it’s worthy of your attention. Therefore, take your time and conduct the amount of research you believe is necessary. Don’t be reliant on just one source of information…which is a great way to get us to the second point.
- Don’t be swayed by what you see on social media.
We are huge fans of social media and are awestruck by the people who are. But…there are some with their own agendas and, sometimes, that goal is not to assist you, but rather to profit from your ignorance. They are there to make money from the ignorance of others knowledgeand to use scaremongering to make money for themselves. There are also individuals who are displaying genuine intentions, but are simply ignorant. Actually, the group of people with good intentions overshadows those who are scammers, and people who are trying to help others aren’t always aware of all the information. If you notice something that appears interesting or strange or nutty, go back to step one and conduct your own investigation.
- Do not share your passwords, keys or bank information
Simple right? Obvious, surely? But it’s not, especially if you’re brand new to NFTs and crypto and that’s what many are betting on. If you’re unfamiliar with the terms (pro suggestion: look up our crypto dictionary to get an overview of terms commonly used) and the processes involved and procedures, then a request to see your personal key (this is yours only and shouldn’t share!) to facilitate the exchange of NFT or cryptocurrency could seem like a reasonable idea. It’s not. If anyone asks for details from you, particularly in the middle of the night take a moment to check the details before moving on Frequenc Media. Certain things are disclosed, but your personal information, banking details and login details or something similar is not to be shared, and if you smell something suspicious you must be firm and not give it until you’ve investigated further. (Pro tip: If you are being pressured to provide information in exchange for a “limited-time deal or ‘limited time deal’, it could be fraudulent).
- If it seems too good to be true, it’s probably true’
Scammers are based on people looking for good deals, but not having the time to research their scams. Do not be one of those people. The best defense is the right amount of skepticism. If you hear about an offer that seems way too good to be true, take a look the offer thoroughly. Talk to people in local groups in the community to find out whether they’ve seen similar offers or have any knowledge about the company or person who made the offer. It’s okay to be cautious.
- Get involved in crypto-related communities.
Being able to connect with people who’ve gone through the same thing, and have done it can be extremely helpful particularly when you’re just making your first steps in. If you’re just beginning to learn about crypto or NFTs, it’s worthwhile to join some online forums to seek guidance, gain knowledge about the industry, and engage in a lively conversation. As we’ve mentioned that these are great sources of information and check out things and they can also be interesting and enjoyable ways to communicate with like-minded people. We have the Terra Virtua Discord server as well as a Telegram channel that have a lot of great individuals who are always willing to impart their knowledge. You can also join us via Twitter, Instagram, and Facebook for news and updates. NFT news.
- Do not invest more than you can afford or are willing to lose.
This is a common piece of investment advice as is the fact that ‘past performance does not guarantee the future’. These are both important points to keep in mind in case you decide to invest in NFTs or crypto. Crypto is a volatile market, meaning that things can change in a flash. While many are willing to claim they know what is a “sure bet,” reality is that nobody knows with certainty. If you’re not comfortable with this degree of risk, it may not be the best investment for you.
- Double-check and confirm the contact information of anyone or company who approach you.
It may seem like a it’s a repetition of the previous however it actually may be, however it’s so crucial, that we’re happy to repeat it. If anyone, be it an individual or a business offers you an offer, go back to step 1 and do your research.
If it seems as if it’s common knowledge, it’s due to the fact that it. We also are aware that the crypto world is thrilling and quickly, making it easy to become swept by all the exciting things happening. Another tip we’ll offer to you is that you don’t have to hurry! The NFTs and cryptocurrencies will not be going away Don’t be pushed by family or media to join in If you’re not prepared.
Don’t forget that the purpose of this endeavor is to have a blast So, have fun exploring the many opportunities that are available in the NFT and crypto space!
Frequenc is a leading provider of NFT consulting services. We are currently hiring for an experienced and qualified candidate to fill our open position.