Fear And Uncertainty of Cryptocurrency Trading

As a student with little knowledge about investment of stocks or cryptocurrency trading, I have had doubts and uncertainties about cryptocurrency trading. Just like other people who are interested in trading, I’m doubting the cryptocurrency market even after I’ve done a lot of research due to my risk averse personality.

While doing my research regarding the risk of cryptocurrency trading, it makes me ponder if I should follow the hype as it is becoming more mainstream. Many professionals expressed that cryptocurrency trading could backfire and the media are spreading Fear, Uncertainty, Doubt (FUD). There are a few causes of FUD such as dropping of prices, government policies that are unfavourable for cryptocurrency traders and the negative claims of cryptocurrency by prominent figures in the financial industries. The largest effect of FUD would be influencing traders to sell off their assets, which subsequently cause the dropping of the prices.

After all, cryptocurrencies are virtual currencies which act as a medium for exchange. They are not physical properties like cash where I get get hold of. The cryptocurrencies that I bought could lose its value, my account might get hacked and I might get scammed. The more common scams would be traders couldn’t liquidate their digital currencies to cash or had injected money into unethical companies that try to fake ICOs through their superb marketing skills. Either way, I would likely be the one at disadvantage if I do not do enough research.

By using Spiking, people with little knowledge and experiences in investment like me could follow the whales’ movements in trading and investment. Following the whales bridges the information asymmetry between the amateur traders like me and the big whales. In this way, I could reduce my uncertainties while making important decisions in cryptocurrency trading. All whales on Spiking are experienced personnel that are strictly verified. However, you still have to manage your tradings at your own risk and do your own research because there are always risk in trading. Don’t let greed take over you!

by Toh Xing Ling, Business Management Undergraduate

Drawing from its successful and rich experience in the stock market since 2016, Spiking is expanding to cryptocurrency trading! With its unique and powerful trading tool and its AI robot Robobull, Spiking enables traders to easily find whales and mirror the trades automatically. At Spiking, we strive to help traders make better decisions and take the steps toward fulfilling their dreams of achieving financial freedom. Check out Spiking App, Top Grossing Finance App at App Store & Google Play.

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