A new and emerging startup in the decentralized finance (DeFi) space, Earnity is set to launch a crypto platform that will provide users with ease of access to cryptocurrency and other digital assets. Experts Dan Schatt and Domenic Carosa expressed excitement for the project as it will allow more people to benefit from buying coins or tokens.
Buying crypto can be highly rewarding, and numerous newcomers want to get in on the action. But before even thinking of jumping in, there are several matters new buyers have to be aware of.
Before buying any cryptocurrency, remember that timing is everything. Digital currencies are known as highly volatile assets. Take Bitcoin, for example. In December 2017, its value reached a then-all-time high of $19,783.06. But in just a matter of two months, it dipped to $6,200. Thus, it is essential to time purchases in cryptocurrency properly. Due diligence is necessary.
In relation to this, conducting research before buying any crypto is essential. Some of the things that have to be studied include white paper, which describes the purpose and mechanisms of a cryptocurrency, and whether or not a crypto asset or project is not a scam because billions have already been lost due to crypto Ponzi schemes and exit scams.
Additionally, buyers should avoid buying more than they can afford to lose. There have been numerous stories of people losing money because they placed too much money in a coin or token. Building a sound buying strategy will help buyers build wealth.
Finally, joining an online community of crypto enthusiasts is also advantageous. The digital currency space is a very fluid environment, with things changing and developing now and then. However, getting plugged into a community can provide beginners with enough knowledge about crypto. Earnity’s executives Dan Schatt and Domenic Carosa, plan to help users by allowing them to receive and share ideas and insights and build communities aligned with their interests.