Indodax CEO Oscar Darmawan Gives Investment Tips So You Don't Waste Management Of THR Money

Indodax CEO, Oscar Darmawan. (Photo: Doc. Indodax)

JAKARTA - Millennials in Indonesia are advised not to be extravagant, especially when entering the atmosphere of Eid. Even though they have received THR, Indodax CEO Oscar Darmawan appealed to millennials to keep setting aside some of their money to invest and not to waste money on unnecessary things.

One form of investment that has been legalized by the Indonesian government is crypto assets. In fact, it is also being loved at this time. Crypto assets, especially Bitcoin, are now increasingly mainstream.

The entry of institutional investors and world leaders who announced that they are also investing in crypto indicates that crypto as an investment product is increasingly being owned. Big names like Elon Musk, Michael Saylor, Jack Dorsey and even famous writer Robert Kiyosaki have invested in Bitcoin (BTC) and Ethereum (ETH).

In his twitter tweet some time ago, the author of Rich Dad Poor Dad advised people to buy Bitcoin (BTC), gold and silver to deal with potential recession storms in the future.

Responding to this, Indodax CEO Oscar Darmawan also agreed because according to him, with the current economic condition of the world's countries, it is not impossible that there will be a recession potential.

“I advise people to be investment literate and be able to choose the right investment product. The investment is not only to get high profits with the cheapest possible purchase capital, but also as a protective asset," said Oscar in a written statement, Thursday, April 21.

As an industry player, Oscar considers crypto to be the right investment because it has several advantages such as being able to be traded 24 hours a day without being tied to a time zone, price movements from around the world, and having high technological innovation because it is supported by blockchain technology which is increasingly growing and needed today.

To try his luck in trading crypto assets, Oscar Darmawan also shares tips and suggestions so that crypto trading can reap profits. One of the most important is time and financial management.

“I think the first thing a trader has is good time management and financial management. A trader does not need to constantly monitor the movement of cryptocurrencies but needs to determine the right trading time and be able to divide the time with other activities. To have time management skills, you need to be trained continuously and can't be instant, "explained Oscar.

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A trader also needs to have good financial management skills and needs to make certain financial posts in order to determine how much capital to spend on trading. Traders can also take advantage of the stop loss feature to minimize losses if the asset price drops further.

Before trading crypto assets, a trader needs to make some kind of trading plan which Crypto Assets to buy and risk management if at any time it doesn't go according to plan.

“Crypto assets to be purchased must be considered for liquidity. Traders can perform analysis by looking at the development of the graph of the ups and downs of the price of the crypto asset or by collecting various information such as market capitalization, supply and demand, its community, technology, and news about the progress of crypto assets and even news of world macroeconomic developments. Traders can read online news from domestic and foreign news portals or visit CoinMarketCap and CoinGecko to view the whitepaper of a crypto asset,” explained Oscar.

The last important point is being able to control yourself and apply investment discipline.

“Traders need to stick to a pre-made trading plan and invest with cold money, be patient, and not get caught up in FOMO. By continuing to learn the crypto trading system, it is not impossible that we can reap enough profit even though it may start from not too much money. Traders also shouldn't be complacent so they stop learning or focus on past mistakes and failures," concluded Oscar.

As additional information, Indodax is the largest and most trusted crypto asset trading company in Indonesia that trades more than 200 crypto assets and serves more than 5.3 million members and members can transact starting from 10 thousand Rupiah. Indodax has an offline counter that can be used by members for consultations located in the Sudirman office center, South Jakarta and Sunset Road in Bali.