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Don't Get Rekt in Crypto

Jaiya Gill
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Don't Get Rekt in Crypto

We're here to help ensure you don't get rekt by the market, with a few simple tips that'll help protect your crypto assets.

Getting rekt means losing all your crypto assets in one swift market movement. We're here to help with a few tips on how to avoid that happening.

Here are a few simple tips you can follow so you don’t get rekt in crypto:

1. Do your own research.

Before you get started in crypto, make sure to DYOR. This can be done by:

  • Learning as much as you can about the project/token/coin
  • Asking questions and talking to people you trust
  • Doing a deep dive on the project and the founding team
  • Getting involved and joining the community 

2. Avoid FOMO and don’t act on emotions.

If a project’s mooning and people are already talking about how much they’ve made off of it, you’re probably already too late. You might feel the urge to move with your emotions, but once you let your feelings take a hold of you in fast-paced markets, you can make decisions you’ll regret. Don’t get rekt in crypto, the market can stay irrational longer than you can stay solvent. 

3. Don’t fall for hype.

Crypto is a speculative market, so rumour and speculation can disproportionately effect prices. It’s common to see excitement build around a potential market event that could impact an investment’s future prospects. Be sceptial about news and speculation to cut through the noise and make more rational decisions. 

4. Be wary of sources you put your faith into.

News sources you read or Twitter accounts you follow can give you inaccurate or skewed impressions of what’s going on in the markets. There’s less protective layers regulating crypto markets vs traditional markets, and some individuals will exploit their influence to their own advantage. Be skeptical of what you read and hear so you don’t get rekt in crypto.

5. Don’t risk more than you can afford lose.

The crypto markets are volatile, so don’t put in more money than you can afford to lose. If you aren’t able to withstand the possibility of a full loss of the amount you’re considering investing, that means you probably can’t afford the risk of investing that amount. 

6. Look at passive options.

Passive investment opportunities are a good option to take a break from constantly managing your portfolio. For example, indexes allow opportunities for diversification. Dollar cost averaging enables you to take advantage of market volatility to maximize profits while also reducing the risk involved. 

Buy the entire crypto market in a single token.