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Dear Tribe! 🙏
As WazirX enters a new chapter, Day One of the Restart will bring both opportunity and learning as liquidity returns and price discovery takes shape.
While excitement is natural, it is equally important to avoid common mistakes that could lead to unfavorable outcomes or added volatility.
To safeguard your trading experience, we have put up a quick list of mistakes that WazirX users should avoid on the restart day.
4 Mistakes to Avoid on WazirX Restart
#1 Panic Selling Based on Emotion Without Reviewing Market Conditions
The Mistake: On the first day of trading, markets may show temporary fluctuations as activity resumes. Prices tend to fluctuate rapidly as the market seeks stability.
How to Avoid It: Consider pausing before making immediate trade decisions. Ensure to check market prices, compare them across platforms, and allow the markets time to stabilize. Acting too quickly in a volatile environment may lead to less favorable outcomes.
#2 Assuming Day One Prices Reflect Market Reality
The Mistake: Token prices on the restart day can be deceptive. With liquidity still building, order books may show inflated or deflated values.
How to Avoid: Don’t treat Day One as a mirror of the global market. Users may compare token prices on WazirX with publicly available platforms like CoinMarketCap, CoinGecko, or any other such platform of their choice, before making any trading decisions. Being aware of external benchmarks can help users make more informed decisions.
#3 Placing Large Market Orders
The Mistake: The excitement and relief after the restart may tempt some users to make large trades right away. However, it’s essential to note that on Day One, market depth will still be evolving as trading activity gradually increases. Placing oversized trades during this early phase can lead to higher slippage or wider spreads, resulting in less favorable prices than expected.
How to Avoid: Consider starting with smaller order sizes in the initial days. This allows you to observe how the market is performing and may reduce exposure to slippage.
#4 Ignoring Official Updates
The Mistake: Overlooking official announcements about pair availability, phased listings, swaps, and delistings can create unnecessary confusion or missed opportunities.
How to Avoid: Keep an eye on WazirX’s official channels – social media handles, Telegram channel, emails, or app notifications to stay informed and make decisions accordingly.
Key Takeaway
Restart Day marks a significant milestone in WazirX’s journey and signals the beginning of a stronger phase. Being aware of these common situations may help you navigate the early restart period more confidently and responsibly.
Remember: There is no urgency to act immediately. It’s more important to proceed at your own pace with a well-informed approach.
Trade Responsibly! 🙏
