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Over 2.46M unique wallets traded NFTs last year.
And just from July to September, they collectively lost $450M in trades!
It's not easy to make profits as an NFT trader.
Here are 5 skills you absolutely need to master to make consistent profits👇
#nft #nfts #nfttrader
And just from July to September, they collectively lost $450M in trades!
It's not easy to make profits as an NFT trader.
Here are 5 skills you absolutely need to master to make consistent profits👇
#nft #nfts #nfttrader
1. Risk Management
The hype around NFTs can cause serious FOMO
And this causes some traders to ape in to trending collections
But this is a terrible idea!
Managing your risk is crucial
Diversify your investments to minimize your chances of getting rekt by the market.
The hype around NFTs can cause serious FOMO
And this causes some traders to ape in to trending collections
But this is a terrible idea!
Managing your risk is crucial
Diversify your investments to minimize your chances of getting rekt by the market.
2. Analysis
All traders know of DYOR
But what does doing your own research entail?
Before investing in a project, here are some things you should analyse:
• Floor price, sales and volume
• Unique holders
• Number of listings
• Team
• Utility/roadmap
• Community
All traders know of DYOR
But what does doing your own research entail?
Before investing in a project, here are some things you should analyse:
• Floor price, sales and volume
• Unique holders
• Number of listings
• Team
• Utility/roadmap
• Community
