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Hello everyone. Yesterday I talked about a few strategies that I thought could be important in deciding which crypto to buy. I discussed some things that we might look at to make our decision a bit more educated and at the same time extend our knowledge, the particular coil which we aim to buy. Obviously none of that was financial advice and I wasn't trying to influence any of you to follow those. I only aimed to share my findings. And in the same manner, I would also like to share some things today regarding what we should look out for or in other words avoid during such transactions. It'll be only two or three things and I will try to keep them brief. Just an overview and the rest you can research on the wrong. Make your own educated decisions if you feel like looking into it. 

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So these are basically common financial advice that people give out all the time and they're as easily accessible as simply searching on YouTube. So I thought I would translate them into crypto talk and relate certain terms in their cryptocurrency analogies to make it simpler. For example, you should always have a strategy. We should not impulsively make any trading decisions and not make sell or buy orders just because a certain candle moved a bit too far in either direction. Because these are just spikes. Rather we should hold on to it for a little while and assess the broader situation.

Then there is another common financial advice which is assets divided. Especially us traders. So if we buy all our crypto through one exchange and keep it there then our asset will become vulnerable to only one accident. If God forbids something happens to that exchange, all of your funds can fall in risk. But if you maintain a personal wallet which could be on a thumb drive or you can divide your assets into different exchanges, then not all of your assets can fall into risk. 

Now something that you should be considering before the point I just discussed. That is choosing the best exchange to do those transactions because not all exchanges offer the same value. Some provide better security and functionality across the globe. While some provide less exchange rates, you should choose which exchange you want to do your trades on based on where you live and how much of trading fees you can live with. This will be important in the long run. 

Lastly, I will suggest that you should not jump in the hype train for any particular crypto without doing prior research. Because hype is just hype comes and then it goes away swifty. I have a few more common things that I want to talk about. I will do that on a later date. These are just very simple things and most of you obviously already know them. I presume still I felt like sharing them just for good awareness.

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