- start trading cryptos with a clear purpose and well defined plan
- manage your risks with stop loss and take profits
- buy a coin considering its market cap and not its low price
- keep diversifying your investments
- take it easy while trading. Don’t rush.
Topic: Some basic advice for newbies in crypto - Please read. (Read 523 times)
This information is really vital for any newbie in the crypto space especially for those who want to make a successful crypto career.
Thank you for sharing such good information.
Thank you for sharing such good information.
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I don't care to visit the site you suggested, because with me all third-party rating sites are not reliable. Projects pay fees to get ratings they want, so ratings on those sites are biased ones, and unreliable. Investors should do their own researches on projects that they have interests to invest; and compare results of those researches with their own rating criteria and scale. If total rates of all projects' components are above average, they can consider to invest, if not, ingore those projects to protect their funds.In addition, I don't care to invest my money in new-born projects. I keep my rules even with extremely potential projects, because it is too difficult to assess quality of newborn projects; time will help us to easier assess their quality, and have more exact assessments.
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This post is very informative, enjoy!
So you have 100+ BTC in cold storage, and most of us assume it is stored in paper wallet as printed private key. In order to access your coins you need to import that private key in some crypto wallet, but you also need some safe storage for such big amounts of coins. My advice to you is to first invest $60+ in hardware wallet, then take a 100% clean device (PC or smarthphone), download and verify Electrum (https://electrum.org/#home) before install, import your private key/s in that wallet and then send it to hardware wallet. After that you can think how you will sell it, and you do not need to sell all in one transaction.
Maybe it's better to wait a while with selling , price will probably go up in next months / next year.
Can you afford 100+ bitcoin?
So you have 100+ BTC in cold storage, and most of us assume it is stored in paper wallet as printed private key. In order to access your coins you need to import that private key in some crypto wallet, but you also need some safe storage for such big amounts of coins. My advice to you is to first invest $60+ in hardware wallet, then take a 100% clean device (PC or smarthphone), download and verify Electrum (https://electrum.org/#home) before install, import your private key/s in that wallet and then send it to hardware wallet. After that you can think how you will sell it, and you do not need to sell all in one transaction.
Maybe it's better to wait a while with selling , price will probably go up in next months / next year.
Hard wallets are very expensive though and they're just only starters in bitcoin.
Yeah, hardware wallets are not the first option new crypto starters should think of, especially if they have small funds. However, in the long run, if their funds become big enough, they should think of it.Nevertheless, I would like to emphasize that crypto starters can secure their wallets by strong passwords, carefully store their private keys and wallets backups. Lastly, besides those steps, carefulness on internet space will keep them and their wallets safe.
Trying to spend a little money to use hardware wallets
Hard wallets are very expensive though and they're just only starters in bitcoin. I would like to recommend a local wallet if your country has one. Here in my country, the common wallet that we're using is Electrum and coins.ph. When segwit BTC address is needed, electrum is the platform that we're using. We're also using coins.ph to withdraw and deposit, we can also but bitcoin in there. Through our local wallet, the platform has the ability to send digital money with no tx fee if we're both using the same platform.
If you're a huge investor, escrow, holder of the company then hardware wallets are really recommended for security of the cryptocurrency.
In generally I can advice to avoid online wallets and choose the wallets in which you have control over the private keys.
[6] Trying to spend a litle money to use hardware wallets
Please read more in recommend threads.
Desktop wallets are recommend too, but it is useful when you are not involved much in online, I mean sharing your profile like joining many airdrops and bounty campaigns.
Hardware wallets are must, if you want to store coins for long time and more in values.
Recommend hardware wallets are Trezor and Ledger wallets.
And desktop wallets are Electrum.
Electrum maybe difficult (not much) for newbies but if you will not start learning from here then you are wasting your time only. Best time to start Learning and Earning is Now.
I like using my mobile wallet and i'm very careful with it so i don't have to buy hardware wallet moreover i don't have much funds in my wallets that will requires hardware wallet instead.
I can not tell you, because you did not mention that you want wallets of which coins? Bitcoin, Litecoin, Ethereum, DASH, Monero, Stellar, Dogecoin, Bitshares, which one?
In generally I can advice to avoid online wallets and choose the wallets in which you have control over the private keys.
I can not tell you, because you did not mention that you want wallets of which coins? Bitcoin, Litecoin, Ethereum, DASH, Monero, Stellar, Dogecoin, Bitshares, which one?
[6] Trying to spend a litle money to use hardware wallets
Please read more in recommend threads.
Hardware wallets sir
I do not recommend Hardware wallet to everyone. Many people do not have that much big quantity of bitcoins and it is not feasible for them to buy the hardware wallets. For most people, desktop wallets are enough.
In addition, new people need to stay away from spam from emails, investment offers from telegram or winning programs. They need you to send a fee to receive the reward, and that money will never return to you.
Don't being over-greedy, then you all will be fine. There is nothing free, so be careful and take care of yourself, your devices, and your fund. 
...few future problems supposed that damage hardware wallets so lost her money very tough to recovered.
have any way to recovery hardware wallets?
Are you talking about physical damages to hardware wallets? have any way to recovery hardware wallets?
In case your device malfunctions and it is still under warranty you can contact the customer support, explain your problem and you will likely get a replacement device.
Ledger has even sent replacement devices even after the warranty period expired.
As long as your seed is safe, your funds will be safe.
To my knowledge there haven't been instances of people getting hacked and having their funds stolen from their hardware wallets because the attacker would need physical access to the device to send the funds.
In addition, new people need to stay away from spam from emails, investment offers from telegram or winning programs. They need you to send a fee to receive the reward, and that money will never return to you. Get to know the applications of unknown origin before downloading, although on the app store it is still not absolutely safe. Be careful of using the internet and communication tools, when there are strange links, don't click in a hurry, you can be a victim of the virus.
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[4] Backing up your wallet regularly, and storing your private keys/ seeds / paraphrases careful and safely
I have to do it, definitely. In worst cases, you can recover wallets and funds inside.
Backing up a wallet file regularly don't add any value. It's the same if you do once unless you haven't change passworded. It's better to put the same file in several devices ao that if one file get corrupted, you can recover. Storing seed key is best in my opinion. I have to do it, definitely. In worst cases, you can recover wallets and funds inside.
[6] Trying to spend a litle money to use hardware wallets
Please read more in recommend threads.
I think hardware wallets extra safe for Cryptocurrency holder other hands few future problems supposed that damage hardware wallets so lost her money very tough to recovered.
have any way to recovery hardware wallets?
Hardware wallets sir
List of some good hardware wallets-1. Ledger Nano
2. Trezor
3. Keepkey
Among those, keepkey is cheapest, however, I recommend using Ledger Nano or Trezor. It's always better to invest some for the safety, isn't it?
I can not tell you, because you did not mention that you want wallets of which coins? Bitcoin, Litecoin, Ethereum, DASH, Monero, Stellar, Dogecoin, Bitshares, which one?
[6] Trying to spend a litle money to use hardware wallets
Please read more in recommend threads.
Hardware wallets sir
Good advice thanks for sharing but you should include downloading of wallets from unofficial websites is dangerous too,not just new born projects,we have many fake bitcoin wallets for mobile phones on stores that will actually gives you private keys
Also good to note that though you should always use a hardware wallet (or multiple if you're holding larger amount of money), for smaller purchases and more frequent transactions you can send funds from your hardware wallet to a hot wallet such as a mobile wallet. You shouldn't be holding significant amounts of funds nor funds for extended amounts of time on whatever hot wallet you're using, but as long as you're abiding by these guidelines for a hot wallet you should be fine.
I can not tell you, because you did not mention that you want wallets of which coins? Bitcoin, Litecoin, Ethereum, DASH, Monero, Stellar, Dogecoin, Bitshares, which one?
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