article is part of our new series, Women in Crypto, celebrating women’s achievements in the crypto space and giving them a platform to be inspired. These tips will help you feel more confident in investing and may bring you better results.
Define Your Personal Crypto Trading Strategy
It can often be hard to decipher genuine trading tips from some of the scams and misleading information out there. More instances of crypto investment scams are reported every year, while the average amount lost per individual rises steadily too. Man or woman, anyone can fall victim to these scams, scammers will use emotional manipulation to pressure you into making rash decisions and complying with their requests.
This means it’s important to define your personal crypto trading strategy and stick to it, in order to avoid becoming overwhelmed by information and caught up in the hype. Use critical thinking and perhaps even a little female intuition to assess different coins, projects, and platforms individually, carefully examining what they can bring to your pre-defined strategy and whether you should deviate from it.
Risk Management
There’s no denying that crypto trading is a high-risk domain. Fortunately, you can manage these risks by setting yourself limits for your trades and sticking to them carefully, like a budget for managing your expenses.
Everyone has their own individual appetite for risk. Generally speaking, women are considered to be more risk-averse than men, but is there any accuracy behind this? In some cases, women may have a lower income or more dependents, resulting in less disposable income to be utilized and invested.
Diversity in All Its Forms
Like many spaces in tech and finance, crypto has typically been a male-dominated industry, but now there are many platforms, some of which are female-owned, set on creating spaces to welcome women, building their story, marketing, and messaging around their community.
Diverse Sources
By being vocal and celebrating women’s achievements in crypto, we can encourage other women to enter the arena. Start with something small, like listening to a podcast on the topic and sharing it with a friend or colleague.
Diverse People
Surrounding yourself with a diverse group of people can be a valuable asset in itself. Consider joining a group, whether one specifically for women in crypto or otherwise, in order to discuss and learn from each other. Our Telegram group IXFI World is the perfect inclusive space to start.
Diverse Coins
We all know not to put all our eggs in one basket, the same applies when it comes to crypto. This means not investing too much in any one cryptocurrency, and instead, spreading your investments across different cryptocurrencies. The more diverse your portfolio, the less risk you are exposed to.
Diversity is essential when dealing with a volatile asset such as cryptocurrency, susceptible to steep peaks and troughs.
Long Term Commitment
The cryptocurrency market is often subject to dramatic changes in short periods of time. This can lead to people making a split decision to panic-buy when prices are low. Most women have a five-year life plan, so why not make one when it comes to your finances? What are your long-term goals for your cryptocurrency assets?
Automated Purchasing
A majority of cryptocurrency exchanges offer the possibility of setting up recurring purchases. For instance, directing the platform to purchase a set amount of cryptocurrency at the same time each month. This means that some months you will benefit from lower prices and some months you will pay higher prices. This can be a great way for someone with very little time to spare to stay involved in crypto trading. This might be a good option if you have a busy lifestyle.
Whatever your five-year plan may be, Your Friendly Crypto Exchange is the perfect place to continue on your journey with crypto. Whether you’re just getting started or have some experience under your belt, you can find what you need on IXFI.
Our user-friendly platform was designed to be an all-in-one solution, something that could easily slot into the busy lives of modern women. Join IXFI today to discover a whole new world of possibilities.
Disclaimer: The content of this article is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial and fiscal circumstances.
Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial and fiscal objectives, needs and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.
