Topic: Your most important crypto advice? (Read 847 times)

OP, it is nice you asked this question and I believe you have received lots of comments and replies with respect to the subject matter leaving you with many options to gain knowledge and insight from but however I would like you to know this that irrespective of the fact that you have a good and sophisticated wallet and exchange where you keep your funds, there is one thing that is very important to keep your Crypto assets safe and secured and that has to do with security.

You can accumulate all the Crypto assets you want to but what would it be of benefit to you when you finish investing or buying coin and token and all of a sudden you wake up to discover that you have been scammed or hacked. In as much as Crypto safety is concerned, it is pertinent that you should provide security for your assets.

Centralised third-party exchange is never advisable to store your assets but your own personal self custodial wallet would be much better. Save up your pass key in a sheet of paper where you can easily get them. Do not use google cloud for saving of your assets key because if anything happens to your google account, all your details are automatically compromised and who ever did that would definitely have access to your assets. So be careful and do not lose guard. Remember the slogan " not your keys, not your coin"  Take your asset safety serious after investing.

I will make my best crypto tip is to do your own research (DYOR). This is important because crypto is always changing and what works now might not work later. By learning about crypto yourself you will understand it better and be able to make smart decisions that fit your goals and what you are willing to risk. If you just follow others without knowing what you are doing you might lose money. So it is important to stay informed and keep learning about crypto. And with my experience I have seen many times the big analysts goes wrong many times and market goes against them. And sometimes the YouTubers explain a project and they ask to join or ask to invest and this will become a scam so always doing research is an important thing in crypto or any other industry.

All coins/tokens are in a very appropriate price condition for us to buy for now.

For points 6 and 7 it is correct. I think this is a message that must be paid attention to, look today quite a lot of people who are disappointed due to the wrong choice in buying. At first, it looks sweet by buying a cheap price and wishing that the coins that have been purchased will increase in price.

I personally don't like to speculate by jumping here and there only focusing on the potential and having a good and fast defensive history in price reversals after a correction occurs. Maybe the coin is clear and everyone knows.

You are right here. Bitcoin is originally designed as a long term investment so if any one here wants to invest only for quick profits, you are in the wrong type of investment. Bitcoin isn't capable of that due to its high volatility and uncertainty in the market.

Just invest in the amount you can afford to lose, an amount that you won't certainly use for paying bills or for emergency funds, otherwise if you do that, the pressure will only gets higher and you can't deal on your bitcoin investment more patiently and calmly since you want to quickly see the amount of returns in just a short period of time.

Don't expect too much from crypto. They can offer you potential profits but at the same time they can also used up your lifetime savings if you are not that patient and experienced enough in dealing with its volatile market. And if ever you decide to invest, stay away from taking out loans or borrowing money. Any kind of investment has its own risk, and once you take out loans just to invest, you are only increasing its risk to lose.

Fear of missing out is entirely the top spot to consider when you're in the market. I'm not here for losses but for profits and will make sure I'm capturing every moment to earn profit. Before going into crypto, there are several parts to adhered to and the sectors are selectively stationed. Crypto advised are always precautions to noted early because if taken a wrong step, losses are recorded instantly.

Always know that mistakes are real so don't be in a hurry when ever you want to perform any transactions to avoid mistakes although one can as well learn from mistakes, another important thing is being conservative in your dealings in order to avoid being scammed. Always do your personal reasearch and make your analysis before making any form of conclusion, don't be carried away by things you see in the internet always be in control of yourself, because there alot of fake and negative information are can be very deceptive.

My most important crypto advice is to give the process time. Take your time to study and understand the market before investing.

 ⚫Do not be in a haste to cash out crypto money, because if you get caught up in the 'get rich quick' mentality, you'll be easily scammed.

⚫And do not invest more than you can afford to lose. Increase your investments as you go and understand the market.

⚫Lastly, don't invest all your money in crypto; ensure you budget properly, have your untouchable emergency funds, daily usage funds, crypto funds, and any other funds.

📌Do not use emergency funds for crypto, please.

Thank you. Is there anything else you'd like to add?

Here I have come to read many advices related to crypto, I think I have acquired some knowledge from here. But I will give a very simple suggestion. My advice is to be careful when doing p2p trading as many scammers create fraud here. I have been scammed myself as I was scammed into my home currency by p2p and left without checking the balance. Scammers sent a message from them and it was a message from my local mobile banking (Nagad) I thought they paid my money so I left without checking the balance. Later when I went to check the actual balance, I saw tk.000 in my account, so I ask to be careful while doing p2p trading.

My other advice is to avoid investing in any exchange wallet and holding that investment. Always use your own wallet to invest. Also I have heard many people use casino platform wallets to hold investments I would say never use casino platform wallets to hold investments. Stay Away from Shitcoin Investing Be sure to use Bitcoin for long-term investing. Do not trust all people and reveal your investment to everyone, not everyone here may be of the same mind as you.

Avoid anyone telling you to invest with them on their platform with a said amount and receive a high amount of bitcoin within a short term.

For your information, bitcoin investment is not a short term investment plan. No one can promise you quick profit returns and it happens the way they predicted it to be. The investment you make in bitcoin should be done when you are ready to take up the risk in it, not when someone tells you to invest when you don't have the basic knowledge of bitcoin. However, invest when ready not out of FOMO of the profits you hear of that it gives

Little did I know that those influencers are most times the owners of the project or they are in partnership with the project owners. Believe them at your own peril.

Encourage them to invest and be ready to take the blames of failure. Teach them about bitcoin and allow them to make decision and become the hero

This advice is key but at the heat of it, it is often neglected.

Let's make it simple. Since everyone shared their brilliant crypto advices, I've got only one to say, do not just follow blindly but learn to verify them as well. With personal experience, you will learn all of that without doubts. Just continue to DYOR and never be afraid to learn and experience something new, that's actually getting out from your own comfort zone and fulfilling the best version of yourself.

The advice that currently works for me is:

1. Avoid YouTube influencers when you plan to invest in Altcoins.

2. Don't encourage others to invest rather teach them about bitcoins if you know they have enough knowledge to comprehend what you are saying to them. in this way, you can avoid any blame from them because you only convey to them the necessary knowledge about cryptos.

3. Always buy bitcoins whenever the price is low, you won't regret this decision but spend only what you can afford to lose.

4. Long-term investment in bitcoins is the best decision you could ever make no one can deny this.

5. Don't you ever take loans to use in investment in crypto.

6. No one should know that you are holding some bitcoins whether small or big. in other words, don't flex it.

7. Last but not least, patience and perseverance during a bearish market are the best traits you could have, so always prepare for the bad scenarios, and don't worry, it won't last forever.

I am not going to suggest new altcoins or meme coins, I am not even saying that all altcoins are worthless or that investing in them can lead to loss because there are some good altcoins in the market along with Bitcoin. Some have always given profit to their buyers, the top names are ETH, BNB, SOL, etc. In my opinion, these coins are very good.

If a trader with low investment chooses them for trading then it will not be bad but if one wants to invest his money for the long term then Bitcoin is the best and it is for everyone. Know that Bitcoin is the king of the market but these coins are also good for investment. The rest is everyone's personal choice, some people like to invest in Bitcoin and only Bitcoin, some people invest in meme coins in the market and some people prefer to invest in alternative coins but I think there should also be some good alternative coins in a portfolio with Bitcoin.

don't trust others, invest and save your own bitcoin in your wallet. this is an important advice for someone who wants to invest in bitcoin. because there are some people who want to invest in bitcoin, then they trust someone else to buy them bitcoin, and let that person control their assets. unfortunately this trusted person ran away and took all the bitcoin, and the person finally cried knowing that all his assets had been taken away. that's why it's important to learn how to invest in bitcoin and how to manage it in a non-custodial wallet personally without the help of others, to prevent such things from happening.

1. Concentrate on Bitcoin

2. Learn how to take control of your own Bitcoin

3. Learn about FUD ^{Fear Uncertainty & Doubt} and when it will affect you and how to become immune

4. Learn FOMO ^{Fear Of Missing Out} and when it will affect you and how to become immune

5. Study the historical chart for Bitcoin, Zoom in to see all the daily movements, Zoom out to see how they dont matter.

Everyone have one or two reasons to cryptocurrency, but I understand that in cryptocurrency what is necessary is to know a particular coin you want to invest on, because if you invest without direction it might end you to lose your investment, so for beginners who doesn't know the way forward of cryptocurrency suppose to know that cryptocurrency investment is risk and it needs a lot of time to study and digest the pathway of it's investment properly before investing on it.

This is the fact about newbies like me. From experience, I have been a victim of something like this, so, is better for us to not rush into investing in a particular coin because of the shallow knowledge gotten. Acquire enough knowledge. Do more research and don't just trust anyone you just met with your wallet and private keys I'm sure you know this. avoid trial error trading, this is not betting. Beware of scammers so don't be so greedy in investment.
It's not written on their forehead as a sign of scammers but they  have some characteristics. Like trying to help you or showing you some fake online testimonies of people that they have helped. And a lot more of things like these which are all lies.

That's right, because these simple things make people sometimes think it's not too crucial / underestimate because they believe in security, the fact is that pharase is the mouth of access to storage, if in bitcoin core maybe more addresses can be owned with 1 pharase if imported, but it doesn't apply to altcoins like metamask or okx, it's manual and only 1 wallet appears and is synchronized. Sometimes people are curious about their own browser and open new domains brutally, many google notes products with email access such as ggoogle keep, docs, spreadsheets etc. the features are good but if our email is careless storing pharase in the cloud is not a good idea. better manually whatever the medium is to write / write. the internet is like a 2-way mirror that can turn around at any time.

Whenever crypto is mentioned somewhere for example, social media, public places, occasions etc, I will always consider privacy as my priority. People usually fall victim to different scam method mainly because they had discussion in an open environment about bitcoin investment unknowingly. Security is also important, where and how an investor can store their coins and save their seed phrase, concerning bitcoin accumulation method, any one can start with any strategy depending on their income but, the dca strategy is most common where you can buy and hold monthly or weekly with any amount. Lastly not all crypto will be beneficial during the long run so while making any choice make it wisely.