Top 5 Tips for Safe Crypto Trading and Investing

hello everyone uh today we'll be talking about my top five tips for crypto trading

investing in general but mainly for crypto trading and i had asked a poll and this was one of the top topics that

people wanted and also this is the right time to make this video so first of all let's start with the disclaimer

that you know first of all i'm not a financial advisor i'm not an investment

expert i've been saying this in pretty much most of my videos that i am also a new learner

and none of this is financial advisor investment advice i am only sharing my personal experiences

for clarity and information for people who have not understood this process and based on my own understanding of the

process when you are making your decisions do your own research like i always say

and then make your decision based on your own research the videos that i'm sharing is because

you know i learnt most of these concepts and i'm just sharing whatever i've learned and you

know obviously these are for learning only at this point i'm still learning and there's a lot to

learn so what are we what are we going to talk about in terms of the tips right crypto trading tips so these are not

technical trips these are not like trading signals or chart trading techniques that you will

probably find in a lot of youtube channels and this is not about a specific crypto or like an exchange like

you know we've spoken about link and zap and all of those things how to trade in certain like in episode

15 for example i even explained my day trading techniques my profit taking techniques

and i even shared one of the trading templates that i had used in earpiece of 15 and which

like how you can use it to consistently make profits i shared all of those so this is not a

video for any of those topics we're not going to be talking any technical terminology

in these uh in this video and this is not a tip um in regards to

specifically one crypto or specifically about what the crypto is doing so what is it that you're going to expect i mean

what what else is is there as a as a trading tip or you know tip in in crypto

currency right so these are tips that have helped me to invest safely and these are tips that i've been

following um and and i think this is something that has been really useful to me

over and above the technical concepts that we've been speaking also this this helps me to realize

profits and not just leave it as a paper profit and these are also tips that help me balance my investment

profit and risk correctly it is very very difficult to balance your investment profit and risk correctly and

these are some of the tips some of the points that have helped me stay safe in terms of the crypto

investment because crypto investment we've always said is very very volatile and so it

is really uh necessary to have some balance with regards to your investment in profit interest so

the the number five is basically investing psychology so before the crypto investing right

like five months back before september uh most of you if you if somebody had told

you that you know you invest 10 000 rupees for one year and you can get 50 percent return where in bank and fixed

deposits you're only getting like 10 or 8 percent return right

if somebody had said that you can get 50 return of investment for your 10 000 rupees investment in a

year and you will get 15 000 at the end of the year you would have been really

happy most of us would have been i would have been happy um you know before beginning

of uh last year in 2019 if somebody had said that uh

that that you can get 50 i would have been happy but if you have been following from september 2020 my channel

and you've been investing even like you know a small amount in crypto

will you be really happy because for example you know most of my uh subscribers they've been giving me

feedback comments and emails that you know some somebody has been really uh super successful i would say you know

somebody has started with ten thousand rupees for example they're not sitting at like like nearly

two and a half lakhs and most of them have done five times or you know eight times ten times their

investment because that's what we've been demonstrating what is possible in crypto

especially in episode 18 i shared how most of the cryptos have doubled or tripled over the last

three to four months and we are in a bull run as well and also in episode 59 i helped you do day trading hour i

explained about day trading which made all of these gains possible but ultimately

profits are always profits you know all profits are profits we should uh stay grounded and this is

so hard to stay grounded once you've started seeing these hundred percent profits right once you started

seeing that you were able to double your money greed will always creep in and then we will

lose the importance of realizing our paper profits so if initially at the outset if you take ten

thousand rupees and you make up your mind that i need to see at least one lakh profit with this

that is ten times the profit that's thousand percent profit that we're talking about

you will never be happy with uh fifty thousand rupees profit which is five times the profit like

you know five hundred percent profit and you still will not be happy about it and you might tend to lose out on taking

out profit or realizing some of the profit the worst thing that will happen in

investing is that you will see your paper profits and you will see it drop quickly and you

would regret that you could have sold and and taken out at least some of a paper profits and this is the this is

the worst part in investing you know you could invest and even if you don't see it go up as

much as you want to that that will not give you that much of regret but once you've seen like you know you

your portfolio is double triple and suddenly it drops right that's when you will feel the regret

there is a there's a phenomenon called as a gambler's fallacy so gameless fallacy is where you've seen

a peak and you expect that after a series of drops you expect to see that peak

and typically what happen is what happens is that because we have this mentality of this

this phenomenon occurs inside us even though you would realize that you could sell at a profit you don't because

you've seen a higher peak point than that for example if you invest at that blue dark blue

peak point and you've seen that your profits have reached that green peak point then

even at the at the stage of yellow blue light blue and the orange all of those are profits good profits

compared to where you have invested but you will be reluctant to sell because you know you really want

have seen a much higher profit and despite the need for money some of us will not sell

and you know that's where we need to be brave enough that if you really want the money

don't calculate your losses from the peak price point or the peak profit point calculate your

profit from the investment that you've made for example xrp was nearly three dollars in 2018

after three years you know it still hasn't reached the one dollar mark it still hasn't

reached that mark bitcoin was twenty thousand dollars in in december 2017 it took three years for it to return to

that obviously it is now double of that but still for three years it had never touched

that never um you know even reached closer to that mark only in december 2020 it actually touched back

again to twenty thousand dollars and now we know that it is climbing but it was a three year wait

so that's very important that if you not wait prepared to wait and you need to be selling at a profit other the point

number four is diversify so there's a saying right you know don't keep all your eggs in one basket now

it's the same thing applies for investment i mean it's mainly applied for investment actually

because you know you don't really want to put all your money into one single crypto or one single investment

and the same is true for uh crypto exchanges as well most people operate only with one

exchange and it's probably safe when to have more than one crypto investment also store it in more than one exchange

so that you know you are if that exchange is unavailable for some reason when there is a

big bull run and you want to sell it you want to make some profits out of it you can do it using the other exchange

now why is it important because you know not all cryptos will have a good day at the same time and typically in bulldog

most cryptos tend to go up at the same time but there are chances where some of the cryptos

will be doing really badly and some crypto will be doing a phenomenal bull run

despite what the other cryptos are doing so that's why it is important to diversify investment

you know you can take profit from one like for example one day if the if one crypto is doing really well another

crypto is doing really badly or there's a huge dip and take some profits from the

crypto that's doing good and put it into the profit into the crypto that is not doing so well that day and it will

be a good trade-off and that's what we even talked about in episode 15 to an extent what i do

personally i choose about 10 investments at one point of time in crypto specifically

and these 10 investments i kind of tend to split it into top five and bottom five explain it in my episode to what my

top top ten investments are and top five are and then

um every now and then in my twitter account i post whenever i find a new crypto that i

i think i should i should invest in i kind of swap out one of my bottom fire and then i buy one of these coins and

sometimes what happens is these coins come into my top ten for example top five even for example

injected coin was three dollars when i posted about it in december now it is almost you know fifteen

dollars and it was thirteen dollars in the sunday and now it is almost fifteen dollars five times the

investment and now it because of that growth it has actually swapped into my top five so you can keep changing your

investment but any point of time try to keep you know whatever works for you

but don't over diversify for example i have the amount of money that i could put it into 10 cryptos if you're

only investing thousand rupees it doesn't make you know it doesn't make any sense to

split it into 10 because then you are basically putting you know very very small amounts into

all of the cryptos and even if it does a thousand percent you are really getting no benefit at all or

no major benefit at all i mean one of my friends for example when we looked at link he was bought

into it but he put only 20 pounds into it now the link is amid from four dollars

it's grown to about 26 about 600 percent but his amount has gone from only 20 pounds to 120 pounds

had he put even 100 pounds right we would have been sitting at 600 pounds now

so it's basically you know the return of investment that you get so ideally uh try and split it to about at

least four or five investments that you can but that again depends on the total

amount of money that you have again try to keep your uh crypto exchange cryptos

in at least two exchanges you know i keep it like i said at least in four or five exchanges but

that's because i was also experimenting on which crypto exchange are better point number three is about time then

the amount of time that we spent and time is money in my views right so for example you know we are willing

to spend hours and hours watching entertainment we watch big boss for an hour we watch you know

all of these random you know reality shows for an hour and we even go to youtube

do follow-up videos and watch the follow-up videos for hours and hours but we are unwilling to read or watch

information content if it does more than 30 minutes and investing in crypto without

understanding what that project is it's a huge risk sometimes it will work like for doggy for example for no

technical reason because of a pump and dump it it was doing phenomenally well but in most of

the circumstances like link injective and and all of these coins that we spoke about

the reason why it is doing so well is because you know there is a tech there is a sound technical reason behind it

there is a necessity behind it in the team that is working behind it has put a lot of effort into it and it's a real

value product and only when you understand the technical reasons and understand the

value behind the product that's when you can make meaningful investments and and it will grow

um over the period of time and how do you do that because you can't you know read about all of the cryptos

within your own time right so get your like-minded friends together your family members or your friends you

know we discuss about movies we discuss about so many things you know start allocating some time to

discuss about these kind of things as well so you can do some research on some cryptos

you can ask your friends or your you know family members to do some research on other cryptos

and you can basically when even you can chit-chat for a long time but you know you can

you can have meaningful conversations you know sharing your research and sharing your input these are money

making opportunities so why not you know have discussions with your friends and family about it

so one person cannot always do the research i've even you know kind of explained it that my

brother my elder brother who's actually more knowledgeable than me he shared a lot of information with me

which has helped me make some of these videos as well so obviously without him you know i

wouldn't have all the information that i've shared in this in these videos so you know i wouldn't be able to do um

this much of content if i didn't have people who helping or giving me inputs as well

and not just for my videos if you can't watch any video which is longer than 15 minutes some people say that

you know split it into multiple parts but if the content is just one single content it's easier for me to

split into multiple videos but you know why can't we just stop it at 10 minutes or 15 minutes

continue the next day right like for example if i'm reading a book or if i'm reading a document or a white paper for

that matter i can't read like more than more than couple of hours at a time i

probably stop and then continue the next day or continue after a small break or something like that so

obviously time is is of the essence um and point number two is don't feel guilty

and this is not a shortcut people will try to you know try to make you feel guilty

about your investment because conventionally it has been like drummed into us that we've been taught

that you know smarter investments are only gold and property and you know you we have not been taught about

investment by your parents at least i have been not taught about investments by my parents

my parents didn't have the mentality to invest in in anything other than gold or property

right and even that probably also comes down to the affordability point of you know they didn't think of investments

beyond the normal expenses and investing in shares and everything else was was deemed as

shortcuts or you know something that was too risky first of all you know investing in

shares helps the businesses grow it increases the employment if the business is having like 10 people

putting uh money into the shares and buying those company shares and it it helps the company to hire 100

people and it improves the overall economy as well right same thing applies to blockchain

industry blockchain now employs thousands and thousands of people i mean the jobs in crypto and blockchain have

gone up by almost 1500 in the last two to three years there are thousands of jobs in

blockchain thousands of jobs in the crypto industry and you when you're buying

into the crypto when you're buying into the blockchain you are directly and indirectly contributing to the economy

because you're helping these people who are having these jobs we spoke about smart

contracts we spoke about you know the the price links and we spoke about

you know so many things in the crypto industry and blockchain industry which are helping people really

so right from coding of the smart contracts to the designing of the user interfaces and

building the decentralized applications the d apps that are called and how they communicate with the

blockchain there's plenty of work to be done and testing all of these things that are being built and

there's a test net before the main net for cryptocurrency there's so much in this ecosystem that it needs

to be developed as the future for us and um the money that you are investing on top

of the profits that you make it helps develop this whole ecosystem in place and in most developed countries this

crypto is highly regulated this profits are taxed and government also gets a

good share of the profits that people make from this from this crypto industry right and most

of these crypto exchanges are also regulated they pay taxes to the gov previously before these smart contracts

came in before the decentralized finance concept came in most of these investments were possible

for only the rich and you know people with good connections and deep knowledge and deep pockets

and few years back you know they were basically lending the money they were getting high interest rates they were

doing a lot of investment the rich were getting richer and poorer were getting

poorer right we've spoken about it even in the previous episode but

now concepts like smart contract decentralized finance a common man if they have 10 rupees they can become a

liquidity provider so it's enabling the secure technology and the decentralized apps are enabling

the common man to invest much much easier and safer and they don't need to have thousand

thousands of growth to be able to fund it it's basically crowdfunding but crowdfunding with a strong

technology behind it i mean this is um almost analogous to what the internet and email and whatsapp did

to physical it doesn't telegram at one point of time having a telephone in your house like

you know 30 years back was considered a privilege and only very rich people were able to

have you know things like you know telephones and and those kind of facilities about you

know 40 years back if if you are not you know rich enough you can't even have a telephone and you

have to rely on physical return telegrams and now internet and email and whatsapp

is so common that it is made more affordable for people and that's what cryptocurrency is doing

that's what blockchain is doing to all the people it's making investments affordable and making

some of these concepts available to all the people and we can always argue that you know especially for the banning

concept and we can always argue that you know there's a lot of illegal activities that are being supported

because of cryptocurrency but that same argument can be done for email and social media as well that

you know every technological improvement will have a small percentage of misuse i mean today we cannot say that email

and social media is not used for illegal activities for planning or whatever it is right

we are not going to ban email and social media but this but the same token we are saying that we

are trying to ban cryptocurrency so technological improvement if it is being misused and it needs to be regulated

shouldn't be banned and there is going to be a small percentage of issues in any technological improvement so feel

confident don't feel guilty about you know sharing your investment discussing your

investment with your friends with your family so that they will also get their knowledge and

this is closely related to the next point that i'm going to make but first of all stop feeling guilty you

know that that guilt has been built into us and we need to basically avoid that guilt

come forward and be be happy to you know do these kind of investments that kind of ties into the next point

don't trust others with your money do not give your money to

somebody else to invest it it is your money and you can invest it directly you know 100

in the internet or wherever you see people who call themselves as brokers or agent or you know investment advisors

they they're practically all of them are scammers and cheats they are

frauds trying to take your money away from you that's all they are nobody is actually having legitimate

interest to make money for you like for example if you if you go to the bank to invest money for

fixer deposit of five percent or whatever and there's a guy who stands outside the bank and says that you know

i'll take your money but i'll give you ten percent more uh interest than the bank you won't give

the money to that unknown person and walk away right you will walk into the bank you will

deposit into your own account make sure that you get the receipt for it and make sure that passbook is

updated so why on crypto and blockchain you are trusting an anonymous person online

including me and i am an anonymous person online you know you don't know me personally right so why would

you give your money to somebody that that you don't know that well even if you think you know the person well

why would you give your money to somebody else to invest when you have the easiest option of investing yourself

you know the in in our videos practically we've been explaining how you can open a

crypto exchange account how you can safely buy how we can safely sell

it's a very very simple process right it's not a quick get rich scheme that we have in crypto

it's a simple concept where you buy a crypto it's a commodity you wait for the price to go up

once the price goes up you sell it and you make profit it's as simple as that and the reasons why it goes up we have

already explained in all of these videos that we've made and that's the purpose of this whole

video series and the internet is full of frauds who will offer you that you know you

give me thousand rupees i'll give you ten thousand rupees in ten days and in the name of crypto they'll say

blockchain bitcoin and all of that ethereum or whatever it is right but they are basically highly organized

gangs who are intelligent and they are they are basically using your greed

your ignorance to take the money from you if they can make 10 times money why do they even need money from you

there will be millionaires by now right why do they even bother trying to help you you know millionaires don't

don't go on and ask for money from people saying that we will do investment for you

like if they can make 10 times money they would have probably been like well settled in life they wouldn't even try

and do some of these things so ask these questions to yourself you know don't trust closed groups

like people in telegram groups whatsapp groups instagram groups for investment specifically right this

is where people get cheated because this is a closed group where people are easily brainwashed into thinking that

okay i can put thousand rupees in and i can get 10 000 rupees and nobody needs to

know because it's a close group and that's what they try to use they try to lure you into a closed group

where you know only a small group of people will try to brainwash you and try to sell you something which is

not true so get your information from openly available sources like twitter or anything that is where

like you know i post mostly on twitter and youtube because these are public mediums if i post

something wrong on twitter then you know anybody can basically dispute it and come and say that i posted

something wrong it's an open medium an open platform where anything that i post can be openly disputed

unlike a telegram group or a whatsapp group where i can control what goes into that group right so

you get your information from publicly available sources validated with publicly available mediums

and don't share your phone number or personal details on youtube comments or twitter replies

i've seen a lot of people who share their personal details and and if the comments get published and

you will be the target of these these hackers or scammers basically and like i said my top five trusted

exchanges are verzerex coinbase crypto.com bittron finance and i've explained over the last 18 19

videos why i trust these crypto exchanges not that i don't trust some of the other

exchanges sometimes i don't really trust some of the exchanges but there's something

wrong about the other exchanges personally i felt that there's something wrong with other

exchanges or i have not gone and explored outside of this but you know when you have an

abundance of trusted exchanges with you then you know start using that if somebody has

provided a good review of other exchanges do use them and don't share your your login

credentials with anybody don't share your seed phrase or your login credentials whoever asked

it even if they say that i'm from that particular exchange i work for the exchange don't share it

with them and never ever send your crypto or your cryptocurrency to anybody's address

even if they offer 100 times more money even if you think it is coming from me because this is something that is very

common in the in the in the you know in the social media where people's accounts get hacked like

for example in 2020 uh middle of 2020 even elon musk and obama and

most of the famous people's account got hacked for one day on that day they all tweeted saying that

i'm feeling grateful send me thousand dollars of crypto i will double your bitcoin and

send it back to you and they gave an address this was a scam everybody who sent money to that

address they got scammed and it took almost a day for twitter to actually uh get those hacked accounts back to

elon musk and obama and everyone so it was you know anytime you

see anybody tweeting or anybody saying that you know send me your crypto i'll double it or triple it

or give you 10 times more it's a scam you know don't send your crypto to anybody and there

are some very famous bitcoin mining scam sites where people have lost

lacks and lacks of rupees you know people work working for iet people working in good jobs people

who are educated enough you know they've lost their money and 24 crypto money is a famous

uh fake crypto mining website where they will get your money they will say that they've invested it they bought crypto

for you but eventually it will be basically um a scenario where they'll say that

okay you need to pay more tax a month and they'll ask for an amount that you cannot manage or you

cannot give and even if you do manage to give it they will never give you the crypto or any money there's literally no

crypto behind it most of the time it's basically a cheating that's done in the name of crypto with all of these

things you know bitk rx was a fake crypto exchange that was run for

a long time before it was eventually busted mining max is again a ponzi scheme

there's mlm schemes where you know they're like beltex for example people take you to a room and they give

you samosas and tea and biscuit and they ask you to buy this crypto where there's

actually no not even a blockchain behind it one thing i would ask for this video is

that you share the information with your friends and family you don't need to share the video

share this information that you've gained from this video um especially about the point number one

you know we cannot we cannot afford to stay quiet when our friends and

relatives are being cheated and that's one of the fundamental reasons why i've spent so much time

and so much energy to make all of these videos in so much detail so the people know that they have the

awareness they get the awareness that they can directly buy it they can directly

invest their money safely whether you lose the money or not you've decided to invest it yourself and

you have you know you have total control over it you're not being cheated outright by

somebody else so at least share that first point at least share the point where

somebody asks your money in the name of investing in a crypto do not do not do not give them so hopefully

this video was useful to you until next time thanks bye you