Things To Avoid When Trading Crypto PLR Ebook

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You Don’t Understand the Technology

What makes Bitcoin and many cryptocurrencies innovative is their underlying technology. But if you don’t understand the foundations of the technology, the road will be risky.

You don’t want to rely on others’ ‘knowledge’ to make your investment decisions. Until you can judge these projects for yourself, you will be missing out on big opportunities.

After all, the creators of Bitcoin and its first adopters were all techies.

To avoid this, find educational sources you trust, take the time to learn, and most importantly, enjoy the journey of learning.

Once you understand block rewards, consensus algorithms, premining, and all the fancy jargon, you will be an improved, independent investor.

Blockchain technology is continuously advancing, so keep up with it the best you can.

4. You Ignore Fees

Now that you’ve taken action, take your time and find the right exchange with the best fees.

When people start trading, they make lots of trades a day hoping to earn small profits. While this is nice in theory, fees are killing them. Even if they are low, it all adds up.

Do your research before you trade. To become a successful investor, you need to start taking good habits right now.

5. You Overtrade

Some investors, mostly beginners, want to make 20 trades a day. This is dangerous.

Ultimately, many of them lose from fees or because they make bad trades a mistake and then trade more to recover their losses. Only to dig a deeper and deeper hole for themselves.

The reality is that there aren’t 20 good trading opportunities in a day. Trading too much leads to poor decision making.

6. You Don’t Understand Tax Implications

Overtrading also increases your tax liabilities.

At least in the United States and Canada. Most people think that they only owe taxes on profits that were sold back to USD/CAD, when in fact, you owe taxes on every single trade you make – even crypto to crypto.

The IRS and CRA view every trade as a realized gain or loss. Put simply, if you buy Ether with Bitcoin, they consider this a taxable event on a realized gain or loss.

They assume that you sold Ethereum to USD, then purchased Bitcoin with USD, even though this is not what happened.

Ignoring both tax implications and exchange fees will severely impact your overall cryptocurrency investment strategy.

Tax implications, in addition to accumulated fees and bad trades, is another reason why you should not overtrade.

7. You Invest Your Life Savings

Rule number one of investing; don’t invest more than you can afford to lose.

You should go into this ready to lose whatever you put in. Ultimately, as the price swings up and down, you should remain calm and still be living a healthy life with room for regular spending.

I’ve heard countless horror stories of people investing greedily with their entire life savings or borrowing large sums of money. This is a HUGE mistake.

Funny enough, even if you hit it big, your greed will likely win you over. For example, if you invest $50,000 and at one point have $150,000, then your mind will rationalize and normalize these winnings to feel less significant than they are.

The next thing you know, the market drops, and you are back at break even, or at a loss.

Other Details

- 1 Ebook (PDF, DOCX), 26 Pages
- 4 Ecovers (JPG, PNG)
- Year Released/Circulated: 2021
- File Size: 4,578 KB

License Details:

[YES] Can be sold
[YES] Can be used for personal use
[YES] Can be packaged with other products
[YES] Can modify/change the sales letter
[YES] Can modify/change the main product
[YES] Can modify/change the graphics and ecover
[YES] Can be added into paid membership websites
[YES] Can put your name on the sales letter
[YES] Can be offered as a bonus
[YES] Can be used to build a list (giveaway against an email)
[YES] Can print/publish offline
[YES] Can convey and sell Personal Use Rights
[YES] Can convey and sell Resale Rights
[YES] Can convey and sell Master Resale Rights
[YES] Can convey and sell Private Label Rights
[NO] Can be given away for free
[NO] Can be added to free membership websites