BTC’s All-Time High on LUNO Malaysia: Time to Dive In or Sit Tight?

Alright, Malaysia—today’s BTC news on our LUNO platform is pretty exciting:

Bitcoin has just hit an all-time high of RM350,000 on LUNO Malaysia.

It’s hard not to feel the thrill, right? Such news can make you feel like you’re on the edge of something big. And let’s face it, with crypto, it’s always a bit of a rollercoaster ride. One day you’re on top, and the next, you’re wondering what has just happened.

NOTE: Luno, being a reputable cryptocurrency exchange, is unlikely to publish a story about a lucky trader making millions on a meme coin like Peanut. Here's why:

• High Risk: Luno emphasizes responsible investing and discourages users from speculative bets on highly volatile meme coins.
• Sustainability: Luno promotes established cryptocurrencies with long-term potential and real-world applications.
• Regulations: Luno operates within regulatory frameworks and avoids promoting any activity that could be perceived as irresponsible or risky.

However, Luno might be interested in stories about:

• Cryptocurrency adoption: News on major companies or institutions adopting cryptocurrencies.
• Regulation updates: Information on how regulations are impacting the cryptocurrency landscape.
• Technological advancements: Updates on blockchain technology developments and their potential impact on the future of finance.
• Educational content: Articles and guides explaining various aspects of cryptocurrency investing and trading.

If you're interested in learning more about cryptocurrency, Luno might offer resources like explainer videos, blog posts, or webinars. They would likely focus on established coins with a strong track record and real-world uses.  

It’s the nature of crypto: incredibly volatile and unpredictable.

No one can really say what’s coming next, which is why it’s so captivating—and, let’s be honest, a little nerve-wracking too!

Now, if you’re thinking about jumping into this market, here’s my two cents on LUNO Malaysia as a platform. In my view, LUNO Malaysia is really geared more toward crypto investing rather than trading.

NOTE: Patience: A Skill Essential for Crypto Investors and Traders

Patience in the realm of cryptocurrency investing and trading is undoubtedly a skill, not merely a character trait. It's a skill that can be developed and honed over time.

Here are some strategies to cultivate patience in your crypto journey:

 1. Set Clear Goals:

• Define your short-term and long-term financial objectives.
• Understand the time horizon required to achieve these goals.

2. Develop a Robust Investment Strategy:

• Create a well-thought-out investment plan that aligns with your risk tolerance and financial goals.
• Stick to your plan, even during market volatility.

3. Practice Mindfulness and Meditation:

• These techniques can help you stay calm and focused, reducing impulsive decision-making.

4. Limit Exposure to Market Noise:

• Avoid constantly checking price charts or engaging in online forums that can trigger emotional reactions.

5. Embrace a Long-Term Perspective:

• Understand that the cryptocurrency market is inherently volatile.
• Focus on the long-term potential of your investments rather than short-term fluctuations.

6. Learn from Mistakes:

• Use past experiences as learning opportunities to improve your future decisions.

7. Diversify Your Portfolio:

• Spreading your investments across various cryptocurrencies can help mitigate risk and reduce the impact of market volatility.

You can gradually develop the patience required to navigate the often turbulent waters of the cryptocurrency market by consistently practicing these techniques. Remember, patience is a virtue that can significantly enhance your long-term investment success.

Why do I say that?

For starters, it’s a straightforward platform with a simple, user-friendly layout, which is perfect if you’re looking to buy and hold your assets without constant monitoring. It doesn’t flood you with an overwhelming list of altcoins, which can be a blessing if you’re trying to stick to top stable coin like BTC or ETH. IMHO, that approach makes it ideal for long-term investors rather than day traders who want to jump in and out of multiple coins.

Another option that’s gaining traction on platforms like LUNO Malaysia is staking.

It’s a way where you can earn rewards by holding certain cryptocurrencies in your account. Think of staking as a way to “put your crypto to work” while you hold it—almost like earning interest. LUNO Malaysia recently introduced staking for coins like ETH, ADA and SOL, which allows investors to earn rewards simply by keeping their coins in their wallet for a specified period.

The way I see it, it’s a great choice if you’re looking to grow your investment passively without the pressure of daily trading. Just remember, like all things crypto, staking comes with risks too, so make sure to do your research before committing your hard earned moolah.

Also, with LUNO, you’re not exactly dealing with the day-to-day trading features that a full time trader (FTT) might crave. But for the average Malaysian looking to invest in crypto, I’d say that it got what you need without overcomplicating things. You can buy, hold, and keep an eye on your investments without being glued to the screen 24/7.

Yes, the platform comes with notification feature (does that answer your question?). Just turn it on in the setting and you’re good to go. Make sure you didn’t miss it when it does turn up. I’m not sure whether you can set the tune to ‘kaching-kaching’ sounds though. Worth checking out…

So, if you’re more about the “buy and hold” or rather “HODL” (hold on to dear life) strategy, this might be just the platform for you.

And if you’re wondering about how I see investing with LUNO Malaysia and what you should consider before jumping into the market, I’ve shared a few pointers that might help you get started. Check out my previous write-up here.

For my 'near full', and bias review (affiliate link inserted, so make sure you read my Disclaimer page before you click it. Seriously.) of using LUNO for Malaysian, do click this link.

So, what do you think? Ready to get on board, or just watching the numbers for now?