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4. Don’t act on tips without verifying
The crypto space suffers from a severe lack of credible information. Investors are dependent largely on unverified information on social media. Self-styled crypto analysts create whatsapp groups packed with their accomplices who vouch for their accuracy. These analysts trap gullible investors, first by charging a fee for the tips and then using them for their pump-and-dump operations. “As a rule, you should verify the information before you invest,” says Raj Khosla, Managing Director, MyMoneyMantra.com. “Check the market cap and trading volumes of the coin. A low market cap and insignificant daily volumes are obvious red flags,” he says.
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Happy New Year from the family 🎉🍾
May 2022 be filled with crypto, crypto, and more crypto!
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The phenomenal returns given by some cryptos in the past one year are mouth watering. “Invest only what you are willing to lose,” says Vineet Nanda, Co-Founder of Globalise. Even if you have a high risk appetite, start trading with small amounts. “Don’t put more than 2% of your overall portfolio in cryptos,” advises Vikram Subburaj, CEO, Giottus Cryptocurrency Exchange. After you get familiar with the arena, read up about various coins and understand their value and prospects, before you allocate more.
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Beetoom wishes you a very merry Christmas and happy holidays! 🐝

You’re a beginner and still unfamiliar with cryptocurrency terminologies?
Here’s a first: Blockchain!

Blockchain is a distributed, decentralized, public ledger. Simply put, blockchain is a database that is validated by a wider community, rather than a central authority.
Generally speaking, "the" blockchain refers to the bitcoin blockchain, which is made of the blocks mined and generates a new block every ten minutes approximately. But there are other blockchains used for different purposes (altcoins, managing business processes, etc).
By looking at Bitcoin’s blockchain, anyone around the world can get an accurate record of which transactions were made and when.
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