NFTs (non-fungible tokens) have proven a great addition to the market. NFTs have created a dynamic new marketplace where market players can trade everything from music and art to in-game items and other intangible assets by enabling the simple tokenization of real and virtual assets.
In this article, we will take investment tips from Mr. Kishan Ramdihal, a successful NFT entrepreneur.
For Kishan Ramdihal, it all began from NiftyGateway. This was his first mining site, and that's precisely where he started collecting NFTs. Following are some of the investment tips Kishan Ramdihal wants to share.
â Do Your Homework
There's a reason this is at the top of the list. As an investor, you must thoroughly investigate the companies, coins, services, and other aspects of a cryptocurrency or NFT investment before reaching a choice. In the words of Mr. Kishan Ramdihal, “ I'm sorry to sound like a "mother," but this is the money that you're investing, and it's important to take it seriously. Do as much research as you deem necessary and take your time. Don't rely on just one information source, either.”
â Keep An Open Mind When It Comes To What You See On Social Media
Most of the people we interact with on social media are people we like. Some users on the site indeed have their agendas, which aren't always helpful. Keep an open mind about what you see on social media. Although the scammers outnumber the good-hearted, even those that want to help may not have all the information. It's crucial to perform your research if you encounter anything you're unsure about.
â If Something Seems Too Tempting, It Most Likely Is
Scammers take advantage of people's desire for bargains and their inability to scrutinize them thoroughly. Those folks should not be amongst us. A fair dose of suspicion is the best line of defense. If a deal sounds too good to be true, take a closer look. To learn more about the individual or firm offering the offer, talk to people in your local groups. There's nothing wrong with being cautious.
â Discover the Crypto Community
An invaluable resource when setting out is a circle of people who have been where you are and have done that. In order to obtain information, ask questions, make new friends, and have some fun in the blockchain and NFT sector, it's a good idea to get involved in a few internet groups. This is a terrific place to gather information and try stuff out and an excellent opportunity to meet other individuals who share your interests.
â Don't Throw More Money Into The Market Than You Can Afford To Give Up
Because the cryptocurrency market is so unpredictable, anything might happen at any time. Everyone pretends to know what is a "sure bet," yet none can say for sure. If you can't stomach that degree of risk, it's probably not the best option for you right now.
It is important to note that these investment tips are coming from someone who started trading stocks at the age of 18 years. Kishan Ramdihal is now a part of multiple NFT projects exceeding millions in net value.
Crypto and NFTs are in an evolution phase. All the hustle-bustle that surrounds it should not make you oblivious of the fact that scams do happen. If not for scams, bad investment decisions may also haunt you sometime later. Follow the tips above from Ramdihal for safe NFT investments.