Crypto analyst, Lark Davies made an interesting post this Wednesday on cryptos. He has indeed given advice to investors who wish to maximize their profits. Here are the steps to successful crypto investing, according to Lark Davies.
Build up significant savings
Lark Davies argues that you need to organize your finances well before making crypto investments. He explained that it amounts to spend less and seek to increase income. The idea is to save more so that you can invest meaningfully in cryptos.
Learn as much as you can about cryptos
According to Davies, the second step to successful crypto investing is to accumulate enough knowledge about the industry. The crypto analyst recommended so newbie investors seek to understand blockchains, on-chain data and emerging themes.
Make the most of free offers
Crypto analyst Lark Davies advises those who want to make investments to go hunting for free offers. In this sense, it encourages them to take advantage of free NFTs, airdrops and testnets. He said that constantly testing different crypto projects leads to interesting opportunities.
Prioritize emerging projects
Lark Davies advises investors to pay more attention to crypto projects that are in their early stages. Investors should get started early and get out of the project before everyone is bragging about its benefits. The idea is not to stay hooked on a crypto project for too long, at the risk of losing a lot of money.
Reinvest earnings into well-established crypto projects
The crypto analyst recommends investors to reinvest the gains obtained through emerging tokens. The profits will be precisely reinvested in well-established cryptos such as bitcoin (BTC) and ether (ETH). Lark Davies stressed that one should not forget to maintain exposure to cryptos.
Lark Davies argues that timing is important to successfully maximizing profits in the crypto industry. In this context, he encourages investors to buy at a time when fear is setting in the market. He also recommends buying oversold techniques and pullbacks. He adds that investors must be able to admit that they have missed a train. Then they must take care to wait for the next one. Finally, it is necessary for investors to aim for making real gains by taking their profits as soon as a crypto project blows up.
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