As Dogecoin rockets to new highs, top DOGE community leader shares four essential tips to help investors navigate pump
In his first recommendation, Mishaboar advises Dogecoin and cryptocurrency investors to only invest what they can afford to lose or keep tied up in a potentially depreciating asset. While Dogecoin is a more established meme coin than newer, highly speculative ones, it remains insufficiently chaotic in its price action, requiring careful risk adjustment.
Many newbies are buying Dogecoin for the first time. These are the most important pieces of advice I have given over the years. 🧵enthusiast also warned against seeking additional returns through APY programs, suggesting that these involve unnecessary risk and may lend assets for purposes against the investor's interest.
In a third piece of advice, Mishaboar underscored the value of self-custody for DOGE, as holding cryptocurrency on exchanges, they warn, equates to owning"i-owe-you" vehicles rather than real crypto, with assets at risk of total loss should an exchange face insolvency. Finally, Mishaboar advises against concentrating all crypto in one place. The community leader reminded holders that past industry leaders like FTX were once considered highly secure but ultimately collapsed.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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