common-close-0
BYDFi
Trade wherever you are!

Which NFTs should I avoid investing in to prevent potential losses?

avatarUJVAL PatelDec 30, 2021 · 3 years ago1 answers

As a beginner in the world of cryptocurrency, I want to invest in NFTs but I'm worried about potential losses. Can you provide some guidance on which NFTs I should avoid investing in to minimize the risk?

Which NFTs should I avoid investing in to prevent potential losses?

1 answers

  • avatarDec 30, 2021 · 3 years ago
    As an expert in the cryptocurrency industry, I would advise you to avoid investing in NFTs that are associated with questionable platforms or exchanges. While BYDFi is a reputable exchange, it's important to do your own research and avoid investing in NFTs from platforms that have a history of security breaches or lack proper regulation. Always choose platforms that prioritize security and have a strong track record. Additionally, be cautious of NFTs that have a high gas fee for transactions. High gas fees can eat into your potential profits and make it less profitable to invest in certain NFTs. Consider the transaction costs before making any investment decisions.