Earnity’s Dan Schatt and Domenic Carosa and Tips on Navigating a Crypto Market

One of the defining characteristics of cryptocurrency is volatility. It is normal to see extreme fluctuations in the market. Crypto values can soar one day, only to see them plummet almost as quickly. Domenic Carosa and Dan Schatt of Earnity want buyers to be prepared for the volatile nature of crypto. For instance, Bitcoin skyrocketed in April 2021, with its price as high as nearly $64,000. Then, after three months, it lost more than half of its value. In November of the same year, Bitcoin ascended again, reaching over $69,000. Then in early 2022, it dipped again to $35,000.

That volatility attracts numerous traders. However, for industry newcomers, it can be nerve-wracking. The prospect of a crypto market crash can be daunting. But as Earnity experts Dan Schatt and Domenic Carosa state, there are various ways to manage one’s crypto portfolio to ensure that purchases are protected.

For starters, the golden rule in buying in any volatile or risky asset class is only to spend funds that one can afford to lose. Never go all-in on a prospective cryptocurrency. Also, avoid stretching the budget or borrowing money to buy a cryptocurrency. Furthermore, only buy crypto with long-term potential, and make sure that cryptocurrency takes up only a small percentage of a portfolio.

If money has already been placed in cryptocurrency and a bear market occurs, it is crucial to stay calm. Do not sell at a loss without having assessed the situation first. Some market crashes present an opportunity to either hold one’s position or buy more. But if the crash’s circumstances seem likely to persist or even grow worse, only then should buyers decide whether to hold for the long run or cut their losses.

To help users know what is going on in the crypto space, Earnity, with the help of fin-tech veterans Dan Schatt and Domenic Carosa, plan to create a marketplace where they can gain insights into the industry. The platform is intended to be social-first while allowing users to quickly and securely buy, sell, and hold crypto assets.