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What Are the Learnings You Can Refer to From Crypto Crashes?

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StrategyDriven StrategyDriven Editorial Perspective Article |Crypto Crash|What Are the Learnings You Can Refer to From Crypto Crashes?When writing an introduction, it’s important to remember that it’s the first impression your reader will have of your article. The purpose of the introduction is to summarize the main points of your article and whet the reader’s appetite.

You should also use this section to engage your audience with a question or statement that will make them want to read more.
The best way to write an introduction is by starting with a story, which can be something you’re familiar with or something you’ve read about in other articles. Once you have that story down, think about how it relates to what you’re trying to say in your piece: how does that story help explain why crypto markets are volatile?

What are Crypto Crashes?

Crypto Crashes are a normal part of the market, and they’re a good thing. These crashes happen when the price of crypto drops significantly below its average price. Crypto Crashes allow you to buy more at a lower price on the cryptocurrency exchange than you would have paid if you weren’t able to capitalize on their opportunity.

Crypto Crashes can be confusing because they don’t follow any kind of pattern or logic, but they can also be used as learning opportunities. If you understand why these crashes happen, then it will help you make better decisions when buying or selling cryptocurrency in future situations where things might get unstable in your portfolio.

Prepare for the Worst

  • Prepare for the worst.
  • Make sure you have a risk management plan in place.
  • Have a plan for what to do if the market crashes, or if it goes up or down by 50%.
  • Know your risk tolerance and make sure this is reflected in your portfolio choices: If you can ride out a bear market for six months, maybe consider holding more of your assets in BTC than ETH—but if you’re not willing to do that, then don’t invest any money at all!

Have a plan for how you will react if things go wrong:

  • Do you want to sell everything immediately?
  • Take profits off the table?
  • Or ride out the storm while hoping things get better?

It’s totally up to each investor how they want their portfolio to behave during these situations. However, they must know how best-suited their unique personality is towards handling them before making any decisions about their investments at all.

Don’t Panic

It’s tempting to sell your crypto when its value is low, especially if you bought it at a peak and you’ve lost money. But don’t panic.
If you’re thinking about selling all of your cryptocurrency, or any of it, wait until the market starts to recover. If there’s a crash, chances are good that it will recover eventually.

Even if there’s no recovery in sight, we suggest not selling all at once. That way, when the price begins to rise again (which we think it will), you’ll have some coins leftover that didn’t get sold during the crash!

Also, keep in mind: Selling now might mean missing out on future profits down the road. It is especially if things turn around quickly as they did after last year’s big correction.

Learn to Analyze Past Trends

In analyzing past trends, it is crucial to have a good understanding of what has happened in the past and why. Once you have this information, you can make predictions about what might happen next.

The best way to learn from past mistakes is by analyzing historical data for patterns. For example, if someone had invested in bitcoin at the beginning of its boom and sold when it dropped significantly (as many people did), they would have lost out on huge gains later on when the cryptocurrency started rising again.

This is because they didn’t understand how volatile cryptocurrencies could be or how they fluctuated over time.

You want to predict future trends based on historical data analysis. You can use Excel’s Sparklines feature or equivalent tools that allow you to quickly see how something has changed over some time. It is without having to manually enter all of your numbers every month/year/day into an Excel spreadsheet (or whatever tool works best for your needs).

Observe and Learn Patience

The most important lesson to take away is that volatility is normal. It’s easy to panic and makes rash decisions when the market turns against you. However, it’s important to remember that these things can happen—and they often do.

The best thing you can do is stick to your strategy and keep an eye on long-term trends, knowing that eventually, the bear market will end, just like all of those before it has.

Don’t get greedy! If an investment gives you a good return in one year but then declines by 50% in two years, then what is its actual ROI? You may have made money in one year but lost half of it by the time two years had passed. Like everything else in life: patience pays off.

Be Calm, Be Patient

When the price of crypto crashes, it is important to be patient and not panic. Do not sell your crypto because you think you will lose money on it. It is also a good idea to follow your investment plan and know what you are investing in.

The market has changed from when it started and now that more people are trying to make money from the market, there could be a lot of manipulation going on, especially by those who have huge amounts invested in this space.

So if you see something happening in the market or if something doesn’t look right, take some time before making any decisions about your investments.

Conclusion

It’s time to wrap up this article with a few key learnings. The following are some of the most important ones:
Be prepared for the worst and don’t panic when you see your favorite coin falling sharply.

When you’re in love with your investments, it can be hard to maintain composure during market crashes. However, if you take a deep breath and remain calm, you’ll be able to analyze past trends and consider potential causes for price fluctuations more clearly—and that will help you make better decisions in the future.

How to Take Your Finances to the Next Level

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StrategyDriven Practices for Professionals Article |Take your finances to the next level|How to Take Your Finances to the Next LevelAre you looking to take your personal finances to the next level in 2022? If so, you’re in luck! This blog post will discuss a number of strategies that you can use to improve your financial situation and cover everything from budgeting and investing to saving money and reducing debt. So whether you’re looking to get out of debt or simply want to learn more about personal finance, read on for some helpful tips!

1) Get on a budget

One of the best ways to take control of your finances is to get on a budget. This will help you track your spending and make sure that you’re not overspending in any one area. There are a number of different budgeting methods out there, so find one that works for you and stick to it!

If you’re not sure where to start, try using the 50/30/20 rule. This means that 50% of your income goes towards essential expenses like housing and utilities, 30% goes towards discretionary expenses like entertainment and dining out, and 20% goes towards savings or debt repayment.

2) Invest in yourself

One of the best investments you can make is in yourself. This includes things like taking courses and learning new skills, as well as investing in your health and wellbeing. Not only will this make you more marketable and improve your earning potential, but it will also help you feel better about yourself. And when you feel good about yourself, it’s easier to stay on track with your financial goals.

Investing in yourself doesn’t have to be expensive, either. There are plenty of free or low-cost resources available online and at your local library. So if you’re looking to take your personal finances to the next level, start by investing in yourself!

3) Save money

One of the best ways to improve your financial situation is to start saving money. This can be done in a number of ways, including setting up a budget and sticking to it, automating your savings, and looking for discounts and deals.

If you’re not sure how much you should be saving, a good rule of thumb is to put away at least 20% of your income. However, if you can afford to save more than that, don’t hesitate! The more you save now, the better off you’ll be down the road.

4) Explore the potential of cryptocurrency

If you’re looking for an investment with potential, cryptocurrency is an excellent option to explore. Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions – you can even research crypto friendly banks if you’re serious about diving into the subject.

While there are risks associated with investing in cryptocurrency, there’s also the potential for big rewards. If you’re thinking about investing in crypto, do your research and understand the risks involved before doing so.

In conclusion, these are just a few of the many ways that you can take your personal finances to the next level. So, if you’re looking to improve your financial situation, start by implementing some of these tips into your life. And remember, even small changes can make a big difference!

4 Golden Rules For Would-Be Investors

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StrategyDriven Entrepreneurship Article |Would-be investors|4 Golden Rules For Would-Be InvestorsIf you’re planning to invest your money this year, you shouldn’t jump in blindly.

There are risks to all investment types, whether you’re considering stock, shares, bonds, real estate, or the trending cryptocurrencies to trade this year.

There are a few golden rules that every investor should follow. We list some of them below and by adhering to them, you will reduce risk and improve your chances of reaping a financial reward.

#1: Have a goal in mind

Many investors have one simple goal: to be as rich as possible. This isn’t necessarily a bad thing but it is a bit abstract. Without a financial figure in mind or a projected timeline, they could invest forevermore and increase the risk of losing money.

When investing, consider your financial goals. it might be an x amount of money for retirement or enough money to put your children through college. When you have attained these goals, you can withdraw this money and put it into your savings fund. If you don’t withdraw it, there is the chance that you will lose some or all of it if a later investment works out badly.

#2: Don’t put all of your eggs in one basket

One of the biggest investment mistakes you can make is putting all of your investment money into one type of asset. If the asset performs badly, you could make significant losses and this would scupper your chance of achieving your financial goals.

It is wiser to diversity your portfolio as this way, you still have the opportunity to make a profit from something, even if you suffer financial losses elsewhere.

#3: Don’t invest in something you don’t understand

You don’t need to be an investment expert but a little bit of knowledge will still carry you a long way. If you were to invest in stocks without knowing about much about the highs and lows of the stock market, for example, you could make a bad decision when choosing where to invest your money. The same applies to other forms of investments.

To learn more, read articles online and take time out to read books written by expert investors. Use trading simulators so you can get a handle on the basics without the need for real money. And if you know any experienced investors, talk to them and ask them all the questions you need before you make any type of investment yourself. By gaining knowledge, you are less likely to do something you might later regret.

#4: Don’t invest what you can’t afford

Before you invest, budget your finances. You still need money for your household bills, family needs, and all of your other expected expenses. If you invest without budgeting, you could lose money that you need elsewhere and this could leave you in a dire financial situation.

Don’t only factor in your daily expenses, however. Leave room for an emergency fund too as it’s wise to put money into that, as you may be faced with unexpected expenses. After factoring in this and all of your other living costs, you will then know how much you have leftover for investing purposes.

Finally

These are just some of the rules you should adhere to. However, there are more to add to this list, so continue your research online and then remind yourself of these rules whenever you decide to start investing.

A Brief History of Monero Explained

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StrategyDriven Editorial Perspective Article |Monero|A Brief History of Monero ExplainedAmong the top cryptocurrencies in the world, Monero (XMR) made a name for itself as one of the best digital currencies for anonymous transactions. Its focus on privacy and security attracted a large number of users from all sides of the legal spectrum. While Monero is one of the most well-known coins in the realm of crypto, it may be surprising to some people that the famous privacy-oriented currency started as a humble grassroots movement in 2014.

Learning more about Monero’s history can shed some light on its background and the values that govern its direction. As such, new users and traders can determine for themselves whether Monero, with all of its features and complex history, should be a part of their portfolio or not. Before even considering Monero as a crypto investment option, people should press pause in their search for the best XMR wallet and take a look first at a quick rundown of Monero’s history below.

What Is a Fork?

Before talking about Monero, users need to learn about forks first. A fork in cryptocurrency is very different from the fork that the average person knows. Rather than a pointed eating utensil, a fork in crypto refers to a change in blockchain protocol.

To illustrate this, think of blockchain as an exceedingly long train track. When a fork happens, the track splits, with the original rail going one way and the fork heading to another. The fork and the original rail share the same background and history, but they are heading in different directions.

Forks happen for a variety of reasons, but they can be summed up into three things:

  • To add new functions
  • To improve upon weaknesses
  • To resolve any disagreements in the community about the crypto’s direction

This is the case for many cryptocurrencies, including Monero. Many altcoins are forks of preceding cryptocurrencies, which develop over time to form their own identities.

The Long, Winding History of Monero

The history of Monero can be described as a long fork story. To get to Monero, users need to learn about two other leading characters first: CryptoNote and Bytecoin.

CryptoNote is not a cryptocurrency. It is more accurate to define it as a new protocol or technology which powers up a new line of cryptocurrencies. CryptoNote was first described in a whitepaper written by Nicholas van Saberhagen (which is a presumed pseudonym) in October 2013. The new protocol addresses some of the key issues surrounding Bitcoin about privacy by providing a way to keep users completely anonymous in the blockchain.

Bytecoin then enters the stage. Bytecoin is the flagship coin of CryptoNote, but it ran into a critical problem. Developers realized that 80 percent of the coins that could be mined for Bytecoin already existed, which severely limits its mining potential. A Bitcointalk forum user who went by ‘thankful_for_today’ decided to fork from Bytecoin and encoded a fresh set of ideas into a new coin called BitMonero.

While thankful_for_today presented interesting ideas for the new coin, the community disagreed with its direction. Hence, other open-source developers decided to fork it in 2014, which ultimately led to the birth of Monero.

The term “monero” means “coin” in Esperanto and quite aptly so. Esperanto is a widely-known artificial language developed back in 1887 with the aims of becoming a universal second language, mirroring accurately what Monero–and crypto in general–hopes to achieve in terms of currency.

Who Created Monero?

In its inception, Monero had a core team of developers with five members. Three of them were anonymous, and the other two were publicly known. Today, there are seven members, which, similar two the previous group, only have two members known in public. Riccardo Scagni, well-known by his username “Fluffypony”, was one of the first five and still serves as Monero’s main developer today.

Controversies Around Monero

The story of Monero is not complete without its controversies.

Monero gained an incredible amount of traction in 2016 when it captured the interest of the dark web. Alphabay, one of the biggest darknet market sites, along with a smaller darknet store called Oasis, integrated Monero as a payment option that summer. The following year in July, when authorities shut Alphabay down, they discovered that a significant portion of the store’s revenue came through Monero.

Aside from these, there are also multiple reports of coinjacking and ransomware, which, unfortunately, take advantage of the anonymous properties of Monero.

Based on these reports, it becomes clear that while Monero offers users well-deserved privacy and security in their finances, there are ill-intentioned individuals who use it for illegal means. One of the biggest topics of debate in the crypto world is striking a balance between the good and the bad because, while Monero is known for the latter, it still has a lot of potential for the former.

Overall, Monero’s history has a lot of ups and downs, and it is difficult to predict how it could change and improve over time. For that, users, traders, and developers alike all need to keep a watchful eye and see for themselves where it could go next.

Is Coinbase a Safe Place to Store Your Crypto Coins

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StrategyDriven Practices for Professionals Article |Coinbase|Is Coinbase a Safe Place to Store Your Crypto Coins?Coinbase is a popular platform for storing and exchanging crypto coins. However, crypto enthusiasts shouldn’t base decisions about who to trust with their digital currency on popularity, alone. They should consider other important factors like whether their digital wallets will be safe and what kinds of security precautions the platform takes to protect its users.

Are Coinbase Exchange Accounts Safe?

According to crypto experts, Coinbase is a reputable company with 40 different licenses to operate in 30 US states and 32 different countries. The company stores most of its digital assets in secure, off-line storage and insures any crypto coins stored on their servers.

Though Coinbase has been popular in the United States for some time, it’s only recently that Canadians have started using the platform in larger numbers. Thankfully, they can rely on the same safeguards and security policies as other existing customers. New users can also check out this Coinbase Canada Review to learn what else they need to know before getting started.

Are Coinbase Wallet Accounts Safe?

Coinbase Wallet is owned by the same parent company as Coinbase Exchange. However, users don’t need to have an Exchange account to keep their crypto coins in a Coinbase wallet. Anyone can download Coinbase Wallet on iOS or Android for free, and it will be as secure as the device being used to store it.

Coinbase Wallet goes a step beyond some digital wallet providers. It uses Secure Element Technology to add security for private keys on users’ smartphones, making a hack virtually impossible. To gain access to the wallet, a hacker would need to create a duplicate fingerprint and avoid the auto-lock timeout to frustrate those who want to attempt multiple breaches.

What Steps Does Coinbase Take to Keep Users Safe?

Coinbase takes multiple steps to ensure that its users’ information and crypto coins stay safe. They include requiring three levels of ID verification to prevent malicious individuals from accessing the platform anonymously and allowing users to enable two-factor authentication to improve security on their accounts. Users can only set up two-factor authentication after they have verified their IDs.

Users’ Roles in Keeping Their Crypto Assets Safe

While Coinbase does provide advanced security features that keep users’ data and crypto-assets safe while they’re in the company’s hands, it can’t do all the work. Users also need to take certain steps to keep their accounts private. To maximize security, Coinbase users should:

  • Create strong passwords by using long, random, unique strings of characters.
  • Enable two-factor authentication, including a security key or Time-Based One-Time Passwords paired with mobile authenticator apps.
  • Use secure email accounts that have never been compromised.
  • Protect mobile phones against port attacks and SIM swaps.
  • Update and clean devices used to access Coinbase frequently.
  • Beware of phishing scams used to gather sensitive information via email.
  • Verify recent activity regularly to make sure there’s nothing suspicious going on.

Coinbase Is a Safe, Reputable Platform

It’s understandable that so many people are hesitant to use online crypto exchanges given all the horror stories that have circulated in recent years about scams and outright thefts. Canadians looking for a safe way to get into crypto buying, selling, and investing can trust Coinbase, though. The platform is owned by a well-established company that has a reputation for taking users’ data seriously and ensuring that all the crypto coins stored on their servers are safe.