1. Have a strategy for crypto trading

It isn’t easy to separate genuine cryptocurrency recommendations from the scams; there are lots of sharks out there waiting to take your money.

Reports of crypto investment scams surged to 7,118 in the first nine months of 2021. This was up 30% on the whole of 2020, according to Action Fraud, with the average loss per victim at £20,500.

So when you’re confronted with a lot of information about a cryptocurrency, take a step back from the hype.

Try to look critically at the project or platform. How many users does it have? What problem does it solve?