Crypto Investing Strategy | How to Set ‘SMART’ Crypto Investment Goals

Investing is an important life decision and truly a long venture. It essentially means laying out your assets in the market to work and generate returns. Sounds interesting? Well, regular investing is a great way to follow through with your financial goals. While you may already have different assets available, crypto assets currently have been garnering all the rage. They are new and exciting, with experts indicating lucrative returns. As they grow skyward, now is indeed the best time to build your crypto portfolio!

When you set your mind on investing in crypto, you need to focus on your goals. The secret to successful investing lies in setting the right strategy. It is not about simply placing your money on the market. A clear plan involves cautious moves to increase your chance at driving better returns. At present, there are 10,000 or more coins (as of March 2022) on the market! Incredible right? Interesting fact, every coin offers something different. Let’s run through the essentials you need to know to get started with setting your crypto investing strategy.

Additional Read: Best Penny Cryptos 2022

How to Set ‘SMART’ Crypto Investing Goals

Specific – As with any other investment asset, it is important to conduct in-depth research when investing in cryptos. Chalk out the specifics with regards to whether you want to engage in short- term or long-term crypto investment. If you want to grow an enriched diversified crypto portfolio, experts recommend the long-term approach with regular investing. For immediate financial goals, the short-term route is likely to be more rewarding. Closely evaluate your risk-to-reward potential to drive crypto investment returns. Research and periodic review of holdings is a good way to drive exceptional value. Remember, experimenting is not the way forward. Be specific about your financial goals and you are bound to make more informed crypto investment decisions.

Measurable – While you have decided on investing in crypto, you may be perplexed about the amount that you should invest. Don’t stress! Let us help you with deciding the best course of action within the crypto market that is prone to mighty swings. The crypto space is speculative, and you must understand the potential risk. As with any volatile market, invest only as much as you can afford to lose. Based on the total amount that you have available to drive towards investing, set aside a percentage to roll into crypto assets. Once you are more comfortable and have a better idea of the performance, you can move on to adjust your crypto strategies. Study its unique characteristics calmly before confidently going all out to increase return potential.

Additional Read: How to diversify your Crypto Portfolio to mitigate potential risks

Actionable – As we continue to emphasize, do your research when investing in crypto coins. The crypto asset class is constantly evolving, and this makes it very important to study available resources. Fortunately, the crypto space continues to be inundated with informational details from time to time. Act by constantly conducting your reviews and research. Take part in exclusive crypto communities as they power you with the right information. Evaluate various elements like the purpose of the coin, who are the producers, and the whitepaper. The white paper is your sacramental document when researching crypto as it lets you in on all the asset details. The key is to stay at the top of your research game when setting your crypto investing strategy & goals.

Additional Read: Which is the best crypto to invest in?

Realistic – Professional crypto investors greatly rely on realistic indicators when deciding on an asset. This involves undertaking technical analysis with the use of mathematic indicators. The strategy greatly helps predict future trends. Use effective tools like the Candlestick Chart. The chart denotes details in relevance to the data pointers at the time. Similarly, other analytic tools offer a great outlook with high-level details on climatic and price patterns. A realistic crypto analysis is a very important aspect considered by investors before setting crypto investing strategy & goals.

Additional Read: How to read Crypto Candlestick Charts

Time-based – Time plays a crucial role in determining the returns on investment. Experts recommend maintaining a constant outflux towards investments. While you may be acquainted with Systematic investing in mutual funds, have you heard of CIP? CoinDCX now brings you the opportunity for a Crypto Investment Plan (CIP)! Interesting right? CIP is a crypto equivalent of the Systematic Investment Plan and fortifies your crypto investment journey. It simply involves transferring a set INR to your CoinDCX Wallet to be directed to buy bitcoin in India on a weekly basis. This activity helps you keep a regular tab on the crypto market while enabling potential wealth creation over an extended period.

Additional Read: Systematic Investing in Bitcoin & other crypto with Crypto Investment Plan – CIP

To Conclude, 

The intricacies of blockchain and the world of crypto can take significant time to grasp. It involves immense research and dedication towards following the trends in the market. When you set your crypto investing strategy & goals, it leads you on a fruitful path in identifying the right cryptos. Identifying the right assets will in turn help you create an enriched crypto investment portfolio to financially thrive in the long run.

Get started with the CoinDCX app, India’s simplest and safest crypto investment app. What’s more? CoinDCX also lets you in on the latest happenings in the space. Stay crypto empowered, Always!

Read more articles on:

1. How to do Crypto Technical Analysis 
2. Crypto Price Predictions
3. Crypto Technical Analysis 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.