Get Rich or Get Rekt? Survive the Crypto Crash With These Tips!
All we can say is… OUCH! Cryptos are in a slump and the world is up in arms. But hey, tough times never last, and if you want to find ways to survive the crypto crash, we’ve got a few pointers that could help you fight off those looming losses so you don’t get rekt.
Yes, we are living in uncertain times, it’s true. But along with the drastic drop in crypto prices, come new opportunities and possibilities in crypto trading. So, how do you avoid losing big and survive the crypto crash? Here are our top 10 tips on how to trump the crypto slump.
Risk it to get the biscuit? You might get rekt!
It’s no secret that the crypto game is a risky one. Bitcoin and other cryptocurrencies are highly volatile and prone to frequent price swings that could leave you behind in the dust. Therefore, managing and assessing your risk beforehand is very important when it comes to investing in a new crypto.
However, managing your current digital assets is just as important – you don’t want to lose what you already have. Always risk a smaller percentage of your trading account to avoid losing all your funds on a single trade.
Only invest in a crypto when you are 100% sure, and never take the leap on a whim – that’s where our next tip comes in.
Keep up with the cryptos – not the Kardashians!
Staying up to date with crypto news and significant events in the crypto space is the best way to determine a safe, low-risk investment for a future trade.
There are many crypto news websites that offer valuable insight and the latest news, with Coindesk, Forbes, Crypto Daily, CoinMarketCap, and CoinTelegraph being some of the biggest news sites online. But you can also keep an eye on the Punt Casino Blog for tips and tricks for using crypto.
The crypto market never sleeps so you need to stay ahead of the game by keeping yourself informed at all times. Signing up with news websites and opting in to receive the latest news mailers will not only keep you in the loop for upcoming investment opportunities, but will also help you make informed decisions on your investments so you don’t get rekt.
Diversify your portfolio
You know the saying – don’t keep all your eggs in 1 basket! This is especially true when trading and investing with crypto. Diversifying your investment portfolio by trading in multiple cryptos is one of the ways to avoid losses and survive the crypto crash.
If 1 of your cryptos decides it’s time for a downward spiral, your other assets could help to keep you afloat. You could also look into trading Forex, or even stocks to counter a crypto market crash. But again, assessing the risk is very important.
Will the crypto crash continue? We can’t say for sure, but diversifying your portfolio is one of the best ways to survive the crypto crash.
Leave your emotions at the door
We’re all human, and sometimes we let our emotions get the better of us, even when trading or investing – it’s in our nature.
Try to keep your cool when investing in crypto and don’t let your emotions, frustrations, and hopes of striking it rich get in the way of making a smart trade.
Go BIG, and you might go home… REKT!
As we mentioned before, diversifying your crypto portfolio is how to make sure that you don’t get rekt and lose all your funds in a single trade. But, the amount you decide to invest is just as crucial to your success as a trader.
Greed is not your friend. Start small, and don’t make trades that could leave you “rekt” without a way of making your comeback.
Learn how to use the tools of the trade
If you’re not experienced in trading cryptos or investing in digital assets, it’s time to do a little research. You cannot rely solely on tip-offs and advice from professional traders and influencers to make the right decisions and find ways to survive the crypto crash.
Take the time to learn about trading in crypto – knowledge is the best investment you can make. Understanding how bitcoin trading works and which market indicators you can use to determine the outcome of your investment is a must, and one of the most useful tools in a crypto trader’s toolbox.
It’s happened before – just HODL on tight
The crypto market is no stranger to a crash – this has happened before. And what goes down, must come up… or is the other way around? Anyway, the bitcoin price, along with that of other cryptos, has sunk, and risen back to its former glory on many occasions.
Yup, it’s certainly a rollercoaster, that’s for sure. And it’s true that the BTC price is at its lowest in almost 2 years. But is now the best time to sell it off? Probably not.
Holding on to your crypto might be the best way to ride out the slump. Plus, a low crypto price is great for new investments, and if there was ever a time to “buy the dip”, it’s now.
Don’t panic – FOMO is a no-go!
You’ve just gotten word from an expert that the Bitcoin price is about to rise and you decide to invest your entire trading account out of FOMO (Fear of Missing Out) – bad move, buddy!
The same goes for selling off your crypto at the drop of a hat. FOMO is very, very real, so don’t let it get the better of you. Stick to researching your investments, and don’t jump at the first opportunity you get to invest. It’s one of the best ways to survive the crypto crash so you don’t get rekt.
You can always boost your Bitcoin at Punt
And for the final tip, we suggest taking up a casino bonus that will boost your crypto deposits with a helping hand from Punt Casino. Our welcome package, for example, offers a 150% bonus on your first deposit – that means you’ll have 150% more to play with!
And it doesn’t end there, as Punt never fails to put out. We offer all our players daily deposit bonuses and massive giveaways on a frequent basis so you can make a bigger bang with your bitcoin on our best online casino games.
Once you’ve met the bonus playthrough requirements and you’re ready to withdraw your winnings, you can use any of our crypto banking methods to cash out your crypto and top up your wallet.
Crypto Crash? Don’t just survive – thrive!
Well, there you have a few tips on how to survive the crypto crash. Don’t lose hope, just hang in there and stick to this guide and you should come out alive. Don’t forget, this might just be your opportunity to come out on top. And when you’re finally ready to hit the big time – sign up with Punt and start gambling for REAL!
With over a decade in the online gambling industry and a passion for all things crypto, Ethan offers valuable insight into playing at Punt with in-depth reviews, gambling guides, and informative content to help our readers make the best of their Punt Casino experience. Get all the ins and outs of crypto gambling with Ethan and our team of gambling experts right here, on the Punt Casino blog.