Making Money and Controlling Risks

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Crypto is a broad term, grouping 1000s of new technologies under 1 name. In reality, most cryptocurrencies are more like a stock in a company. This is important to understand before you get into a project, allowing you to better understand where profits can come from.

For Example, buying a Layer 1 coin such as Ethereum, Avalanche, or Polkadot. The value is expected to come from its' utility, such as interacting with Dapps and Staking. You know the model, higher demand equals a higher price.

But this model isn't the same for all coins. When you get into Layer 2 coins (Arweave, Helium, Matic) there can be less demand. It's a lot more like a stake in a company/ technology. The only 2 reasons to buy these coins are if you need to use that technology, or if the technology still has a roadmap, updates, and room to grow in price. Maybe you see something on the charts lining up with an upcoming update.

Whatever your reason for buying alt-coins, it's good to know what your exit plan looks like.