How can the risks imposed by cryptocurrencies be mitigated and managed? 

Research important crypto coins: Before investing in any cryptocurrency makes sure you research it and invest as per your capacity. Investing just because you’re feeling left out or without consulting any investment advisor isn’t advisable.

Understand your reward/risk ratio: Reward to risk ratio is how much you stand to profit for every unit of currency you risk. Invest only that much which you are ready to risk.

Diversify your portfolio: Investing in many crypto coins can help to minimize the risk factors. A diversified portfolio minimizes the risk associated with the portfolio. Since investment is made across different coins, the impact of volatility can be combated. Some coins are extremely fluctuating while some are not.

Define your entry-exit strategies: Your entries and exits are an essential part of your trades. A great entry is the icing on the cake of a profitable trade, while with the exits, you are not just considering gains, but also losses. Planning your exit points is a crucial part of a solid risk management strategy.

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