If you have plans to buy a token which will be listed for retail purchase in centralized or decentralized exchanges, make sure you read this first!
Here are 5 Tips – How Not To Get Recked When Buying Crypto!
1 – Find out the exact date, time zone, and platforms where you can buy the newly listed crypto token.
2 – Make sure you have funds to cover the purchases, fees or gas. There are different methods of payments, depending on the platform of choice. From FIAT (USD, CAD, EUR, etc), stable coins (USDC, USDT, BUSD, etc), or plastic (VISA, MC, etc) – Fees usually very significantly depending on method of payment.
3 – Wait for the launching time and be calmed! Watch it go up and down quickly in price. It usually falls down hard, this will give us the green flag if we should continue with the purchase, or signs of a rug-pull scheme.
4 – Monitor how prices fluctuate via an app such as ‘Tradingview’. use the ‘Fib Retr’ tool from the most recent high to the most recent low. The 0.618 zone should hold as resistance in higher times frames such as the 1HR or 4HR, however sometimes it tests this zone on higher time frames such as the 8HR and 12HR.
5 – Wait for confirmation, after retesting the support area. As soon as you have your green candle confirming the up trend, now is the time to buy your token.
Don’t forget, The Trend Is Your Friend Until The End.
Congrats! You’re now the owner of a new crypto token!
Make sure you do a deep research before spending a penny in any project. Beware of the Pump-and-Dump, and Rug-Pull schemes.
Have a target goal, make sure you exit your position or take profit when the goal is met. Rinse and repeat!
Happy Trading!
The Violet Rose.