Many people/I come to crypto for making so much money, But I am in loss now, I want to share some rules and mistake that beginner or most of the people make that is harmful for there mental and physical health.
1. Keep most of your holding in
BTC2. Swing trade is good
3. never take leverage more then you can afford to hold for a night and sleep with no worry.
4. Just buy and hodl, Keep our coins off the exchanges.
5. Never gamble with money/crypto you cannot afford to lose, Or never ever gamble
6. Do not worry just hodl and do your regular work. just forget about bitcoin after taking coins off the exchanges(do not forget of phrase and keys)
7. if you hold big amount then apply every kind of security available, to keep your keys safe.
8. Stay away scammy schemes
The recent growth of cryptocurrencies has given rise to numerous opportunities for fraud. It is important to be aware of the risks related to it because scammers are constantly searching for innovative ways to manipulate victims in order to steal their assets or demand money from them.
To protect our assets from cryptocurrency scams, we must be vigilant and cautious and have the ability to recognize when we are the target.
Scammers frequently use some of this techniques to trick people:
-Small investment large gains: Any investment scheme that asks you for money and in exchange for unrealistic profit expectations or massive assured cashouts within little period with little to no risk is probably a fraud. We should always be wary of any information offering high and unrealistic profits with no effort or hard work involved since fraudsters are going to any extent to make absurd promises merely to get naïve individuals in. If anything sounds too appealing to be true, then it's certainly not true and is most likely a scam.
-promises of quick money and giveaways: New investors are always greedy, which is why scammers use giveaways to get their attention in order to obtain all of the necessary information from the addresses they provide to aid their work. As a beginner, avoid giveaways because no one has free money to give you; instead, you must work hard.
-No trading experience needed: Scammers will tell you that you don’t need any trading experience or any specialized knowledge to participate all you need to do is invest then relax while they update you on how to go about it. Some will tell you that everything occurs without human intervention. Hence, you don’t need to know anything. Avoid falling for the such trick, it's all an effort to manipulate you so they can extort money from you.
-High pressure tactics: A key indicator of a potential scam is if you receive repeated messages and calls from the investment firm urging you to act quickly or risk losing the opportunity, Bonuses, or discounts that are being offered at the time. So it's Always important to take your time to research well and fully comprehend what you are getting into.
As a new cryptocurrency user we should never forget that there are some people who are always after our assets and they will go to any extent to steal them from us so we should be vigilant and safeguard ourselves and assets from any form of scam. Never feel any advice is insignificant and don’t overlook minor details they can be useful you might never know And always have in mind that there is nothing like free or easy money.
some ways to avoid fraud
-Never give out your personal information to anyone you meet online.
-Research and conduct a proper background check on every investment opportunity thoroughly before you invest.
-Double checking on website links to be sure its the right ones and avoid clicking on links from unexpected social media messages or emails.
-only invest in things you understand.
-Ignore people who come out from nowhere asking you to invest and join a platform you don't know about.
-Ask questions before you act.
In as much as you have stated this opinions of yours, there are still more to be added but this few would likely add up to compliment the already existing ones above;
1. Do not compell or force anyone all in the name of convincing them to invest in bitcoin or Crypto.
2. Do not panic selling and buying of bitcoin
3. When transferring of bitcoin or other Crypto currencies do well to cross check the wallets from both ends before transferring.
4. Always confirm from the receiver of every transactions before sending to be sure if the deal, wallet address and transaction is still valid.
4. Do well to also send the receipt of your deal or transaction hash to your end receiver for avoidance of doubt.
5. If doing a transaction with some one close to you and you have a lots of funds in your wallet from which you want to pay from, try your possible best to move out the payment funds from that holding wallet address and mix it up so that they do not know and.see your wallet value.
Atleast with this few options of mine, one can be able to play cool in the industry while being safe.
