Investing In The Digital Currency Market Is Quite Tempting, Especially Since The Media Are Reporting Daily Increases In The Price Of Cryptocurrencies Such As Bitcoin, Ethereum, And Similar Examples.

Buying Crypto, especially the not very expensive samples, is not a complicated task. All you have to do is open your smartphone’s screen and buy Crypto directly or through Iranian exchange offices, and that’s it.

However, depending on your financial status, ability, and interest in investing risks, doing so may not be appropriate for some users.

Have. Before entering the world of cryptocurrencies, you should first get acquainted with the facts in this field. For example, one of the most important things to keep in mind is strong financial backing.

To be more precise, most people who enter the world of cryptocurrencies never go to cryptocurrencies with their real money and prefer to enter this field with their surplus cash so that if they lose, they will have a second plan to prevent a crisis. In addition, the laws governing the world of cryptocurrencies are changing rapidly, and for example, the European Commission to combat money laundering through cryptocurrencies; Prohibits suspicious transactions.

“I do not think all people should invest in the cryptocurrency market because for some of them, “The work may end at the cost of the permanent loss of the capital they have accumulated.” If you are interested in entering the world of cryptocurrencies, I suggest you pay attention to these three critical points.

Necessary financial support

• First of all, you need to prepare yourself for a situation where things are not going according to plan. Over the past year and a half, many people have lost their jobs due to an outbreak of coronary heart disease, or their income has plummeted, and they have been forced to spend their savings, and if they do not have savings, they have been forced to take out loans and borrow. And the debt went away. So having an emergency reserve is essential for everyone.

• “When you were young, you thought you were Superman, but when the bubble bursts, you face 9 to 12 months of unemployment,” says Theresa Morrison, a financial planner in Tucson, Arizona. Never underestimate systematic market shocks. “If you are single, be sure to save the equivalent of six months of your living expenses, or if you are cohabiting and both are employed, save about three months each of your current living expenses.” The financial expert points out that this reserve will be adequate in addition to the period of unemployment when you face unforeseen expenses; Even if you have debts and loan installments, this figure will help you not to lose your financial credit. One of the surest options in this area is life insurance. In addition to cash savings, having insurance coverage can be helpful in difficult financial situations.

Saving and investing for plans

1. Once you have an emergency reserve, you need to move to short-term, medium-term, and long-term financial goals. Retirement is the most critical issue for everyone, and you should not avoid paying a pension to ensure you receive a sufficient retirement in old age, but in addition, set other specific goals for yourself.
2. “Most people like to travel every year and buy a house and get married within ten years of starting work, but they have to estimate their costs from the beginning and put them aside,” says Ms. Morrison. In some countries, for example, people have to set aside at least $ 1,000 a month to fund the future of such programs.

Adequate knowledge about cryptocurrencies

• Danny Lee, a financial planner in Denver, USA, makes the following recommendation: “It relies on short-term price fluctuations.”
• After considering the emergency savings and savings needed for future life plans, they can be invested in the cryptocurrency market if there is money left. However, there is still a problem, and you still do not know where to buy cryptocurrencies or how much to do. You have a risk, and depending on your financial plans, this risk is tolerable or not. So before you spend any money, take some time to learn everything you can learn about cryptocurrencies. Regardless of their trading process, try to clarify how much this type of investment is right for you and how the result can affect the sum of the investments and the diverse portfolio of your most important financial assets.

Experts in the field of economics suggest that you ask yourself these questions before investing in the cryptocurrency market:

• What is my future life plan?
• How old am I now?
• What are my primary financial goals?
• How much do I specialize in cryptocurrencies?
• Do I have enough savings and financial resources?
• Are my current assets insured?
• If something happens to me, who knows about my financial situation and can recover my investments and assets?

Finally, if you are still interested in investing in the cryptocurrency market after answering these questions, you should start with small purchases. Once you’re familiar with this market, you can spend most of your extra cash on cryptocurrencies after paying monthly living expenses and providing the monthly savings needed to achieve your financial goals, but in any case, the total Keep your investment small and manageable. The less investment you make, the less likely you will hit your assets, savings, and future financial plans if you fail.