Just as Bitcoin continues to hit new highs, ABMedia also continues to update the market situation for readers. With the development of the market, it has also attracted more and more users outside the crypto. And legislator Ke-Chun Ko posted on Facebook a post to give advice to new investors, and also mentioned the current regulatory framework in Taiwan.
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ToggleDon't print euros! Digital assets are just an asset allocation channel
Dr. Bao first called out to the crypto insiders, saying that for those who already have coins, it's fine to be happy for one night. He then pointed out that the risk lies in the fact that there is no permanent upward trend, only inevitable corrections, and he also took the opportunity to remind speculators not to leverage too much.
He also reminded non-crypto users of the mindset they should have when entering the crypto world, first of all that digital assets are just an asset allocation channel. If you're still not clear, and only enter the circle because of the huge returns, then please don't treat it as an "investment". Additionally, it is a better choice for investors to prioritize using the well-known platforms on the FSC's anti-money laundering and self-regulatory association's list, as they provide more protection for investors.
He also mentioned that if you decide to start getting involved, it is recommended to start with strategies such as regular fixed-amount, small-amount purchases. Keep the amount controlled within 1% to 5% of your monthly assets or income, don't be impatient, and don't go all-in. His personal advice is that unless you are a full-time trader, the general public is not recommended to use leverage or borrow.
Regarding the market cycle, he said: "There is a bull market and there is a bear market, the wind and water take turns, you can take the profits when it's good, or you can hold it for the long term. Unless you are originally a professional and disciplined day trader, virtual currencies change quickly, don't trade back and forth easily, your gains may not be higher than long-term holding, but what you lose is your emotions and family."
Be careful of all external information, there are a hundred ways to steal your assets
Finally, he also reminded all investors to be careful of all external messages, emails, sales pitches, and links, as the author supplemented: in addition to traditional fraud, there are also many phishing links in the blockchain.
He also reminded that you must verify the source thoroughly, and be careful not to be deceived. There is no free lunch in the world, and absolutely no one can guarantee profits, anyone who guarantees you an "easy profit" of more than 8-15% is definitely not easy, and may even have high risks.
Even faster, Ke-Chun Ko affirms that the government's attitude has been relaxed
Regarding the progress of Taiwan's regulation, he pointed out that from the first interpellation of the FSC on March 4th this year to request the opening of overseas Bitcoin ETF sub-delegation, to the request to the Premier and the Central Bank last October 20th to consider purchasing Bitcoin as a strategic reserve. He believes that government agencies have relaxed their attitude since this year. But he believes that it can still be even faster, especially as the changes in blockchain and the world are so rapid, if we do not accelerate our progress, we will only be left behind without realizing it.
