• Understand the risks and pitfalls investors are vulnerable to
• BTC is the Original Bitcoin, and the rest are not
• If you don’t like volatility, you will die of volatility shock
• Forget the 12-phrase key to your wallet – your investment is doomed

Investing is about putting your money in motion for improved results.  Cryptocurrencies are attractive due to their potential to help create more value for money.  While investing in cryptocurrencies is easier and faster than ever before, investors also lose money quickly than ever before.

There are similar risks and pitfalls that investors are vulnerable to. The trading strategies and protections that should be used when trading cryptocurrencies differ from what you will expect trading in regular stocks.  The investment game in the world of cryptocurrencies has some basic rules for resource protection, and it is important that every investor clings on to the basics.

For instance, those who want to buy Bitcoin (BTC) land up buying BCH, BSV, or one from a range of forks that claim to be sustaining the mission of Satoshi.  BTC is the original Bitcoin.  The rest claim to be Bitcoin. Of Course, these tokens have the term “Bitcoin” in their token name, but they are actually not the original Bitcoin.  So, anyone trying to buy BTC should buy BTC and not others. As we know, cryptocurrency is a script, and it is important for users to buy the original script and not those scripts that aspire to be the original Bitcoin.

BTC is the Original Bitcoin, and the rest are not!

No matter who you are, expect the market to be volatile.  Irrespective of whether you have basic strategies or the most advanced and professional stuff, this market is a crazy wild ride. If you thought you are an expert in stocks and charts, think twice.  This is a different game altogether.  Volatility literally goes off charts many times, and you need to be able to sustain the volatility shock.  If you are not prepared for crazy volatility, cryptocurrencies are not for you. If you don’t appreciate volatility, you will die of volatility shock in the cryptocurrency space.

When you are transacting, it is important you send your money to the correct address.  Seasoned cryptocurrency traders have lost their money by sending it to the wrong place.  There is no centralized customer care or toll-free to rectify the wrong transfer.  Money gone is money gone to the wrong address, and you will not get it back.

When you forget the 12-phrase key to your wallet, your investment is doomed forever, and there is no way you will gain access to your money back. It gets locked into the system forever.  All security restrictions like regular passwords apply to your private key.  There will be some way to regain a new password for your regular accounts, but with the 12-phrase key, when you lose it, even Satoshi Nakamoto can’t help!

If you are a Digital Geek and Weirdo who does not like the old-fashioned way of noting down the password on a piece of paper, you will regret for not having written the 12-key phrase in a paper.