Investor's Guide: How to Invest in Cryptocurrency and Minimize Risks. Part 1.
Equite.io helps not only traders, but also capital owners who want to invest in cryptocurrencies.
We are starting to publish a long guide, which will be an overview of our service and also a list of recommendations for investors. You will know how to find a trader, how to check his competence, what details you should discuss before making a deal, and what tools help you to track the work of your asset manager.
Follow the articles in this series, and you will come to a deal fully prepared, even if this is your first experience with cryptocurrency.
From the experience of others
Let's describe the case of a user of our service and a private investor. This is illustrative, and most importantly, a real-life experience of mistakes can be made without knowledge of the industry and the specifics of cryptocurrency as an asset.
The investor found a trader on Equite.io. Then he contacted him via Telegram and transferred the money to the trader's account. The partners discussed payments and agreed that the trader will send profit reports by e-mail in Excel spreadsheet format.
Two weeks later, the investor suddenly decided to withdraw money. The trader closed all transactions and sold the cryptocurrency. But such a fast and unscheduled closing of orders constitutes a serious loss. Therefore, the investor was given only 70% of the original amount.
Therefore, the money owner considered himself cheated and contacted Equite.io with a complaint about the scam.
We conducted an internal investigation and found out that the trader's actions were not fraudulent: he did not steal the money, but actually lost them through trade and because of unplanned withdrawal. At the same time, the investor could be involved in a worse situation, because he made several mistakes in this deal.
What was the main investor’s mistake in this case? Please write your opinion in the comments on Twitter, Facebook, or Telegram.
In the following publications, we will analyze how to invest in cryptocurrency trading and really make money, not lose on it.