Your most important crypto advice? - page 4.

Porfirii

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Quote from: BitGoba on June 27, 2024, 02:10:27 PM

Quote from: bananaunana on June 25, 2024, 10:13:07 AM

What is your most important crypto advice?
Please share here and also add a short comment why it is your most important crypto advice.

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman. Bitcoin is clearly designed as a P2P currency.

I recommend you read the book "The Bitcoin Standard" by economist Saifedean Ammous, as well as the book "Broken Money" by author Lyn Alden.

Curiously, a few days ago the user Pmalek posted that S. Ammous gave his permission to download his popular books for free from a link he retweeted, so those who want to learn about "The Bitcoin Standard" but don't have much money to purchase it can get free knowledge, which is a great move by the author IMO.

Link to the thread where this is discussed: The Bitcoin Standard and other S. Ammous books for free!

BitGoba

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Quote from: Cookdata on June 26, 2024, 01:52:34 PM

Quote from: bananaunana on June 25, 2024, 10:13:07 AM

What is your most important crypto advice?
Please share here and also add a short comment why it is your most important crypto advice.

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman. Bitcoin is clearly designed as a P2P currency.

-I have some and from my personal experience, the have been helpful. Don't take anyone word in crypto, because Mr. Analysts says Bitcoin is going to pump or dump doesn't mean it's going to happen, what happen here is speculations which could be wrong or right.

-Learn to take profit, nothing goes up forever and Bitcoin don't goes down forever but altcoins can go to zero. Know the type of coin you buy, you may not even recover your capital.

-Learn to do proper research about what you are buying, know about the team, check the tokenomics so that whales don't dump their coins or tokens on you.

-Just because you buy a coin doesn't really mean you will make your assume profits, you can get below your expectations and you can get above your expectations.

-In everything you do in crypto, make sure that you have some Bitcoin even if you like altcoins, make sure you have Bitcoin in your portfolio.

Bitcoin will rise forever because fiat money is falling forever. They will never stop printing fiat money and causing inflation; this is the Keynesian school of economics.

BitGoba

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Quote from: bananaunana on June 25, 2024, 10:13:07 AM

What is your most important crypto advice?
Please share here and also add a short comment why it is your most important crypto advice.

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman. Bitcoin is clearly designed as a P2P currency.

I recommend you read the book "The Bitcoin Standard" by economist Saifedean Ammous, as well as the book "Broken Money" by author Lyn Alden.

Cookdata

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Not Your Keys, Not Your Bitcoin

Quote from: bananaunana on June 25, 2024, 10:13:07 AM

What is your most important crypto advice?
Please share here and also add a short comment why it is your most important crypto advice.

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman. Bitcoin is clearly designed as a P2P currency.

-I have some and from my personal experience, the have been helpful. Don't take anyone word in crypto, because Mr. Analysts says Bitcoin is going to pump or dump doesn't mean it's going to happen, what happen here is speculations which could be wrong or right.

-Learn to take profit, nothing goes up forever and Bitcoin don't goes down forever but altcoins can go to zero. Know the type of coin you buy, you may not even recover your capital.

-Learn to do proper research about what you are buying, know about the team, check the tokenomics so that whales don't dump their coins or tokens on you.

-Just because you buy a coin doesn't really mean you will make your assume profits, you can get below your expectations and you can get above your expectations.

-In everything you do in crypto, make sure that you have some Bitcoin even if you like altcoins, make sure you have Bitcoin in your portfolio.

Jewan420

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Patience and hard work are the keys to success.

1. Always protect yourself from greed.
2. Do not share your financial information with anyone.
3. Protecting yourself from fraud and scammers.
4. Do not expect extra profit.
5. Be careful and verify before accessing any link.
6. Do not share the wallet key with anyone.
7. Stay away from overly tempting people.
8. Store all information related to the wallet.
9. Be careful while trading.
10. Keeping all transaction information safe and secure.

Iamgoat

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My own piece of advise to anyone here Wil be;
1. Make a lot of researchs to understand how the cryptocurrencies functions.
For instance, understanding the most technical aspects of the technology will help a user achieve more.
2. When it comes to investment, go for DCAs instead of the Lumpsum until you master the art of investing.
3. Don't invest more than what you can afford lose at a time.
4. Try and be disciplined.
5. Get used to using your common sense. Avoid being superficial with your expectations and calculations.
6. Be patient.

Faisal2202

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Quote from: bananaunana on June 25, 2024, 10:13:07 AM

What is your most important crypto advice?
Please share here and also add a short comment why it is your most important crypto advice.

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman. Bitcoin is clearly designed as a P2P currency.

In crypto never give someone advice without giving them the disclaimer of NFA and DYOR because later they will blame you that you are the one who guided them to invest in crypto while it should be their own decision. And another piece of advice is if you are the one taking advice and the person doesn't give you a disclaimer or does not give a disclaimer in any case. Take it as a slight warning that they just want them to be free of weight on their shoulders. This means they don't want unnecessary tension by giving someone a piece of advice so to save themselves from future conflicts they say NFA or DYOR.

So as a person taking advice, don't just stop yourself there on the basis of these disclaimers but try to move with your thoughts or plans. They might help you achieve your point. Never discourage yourself from the words of others, be confident in your plan and always keep funds in your savings in fiat for emergency cases. That's it.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: bananaunana on June 25, 2024, 10:13:07 AM

What is your most important crypto advice?
Please share here and also add a short comment why it is your most important crypto advice.

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman. Bitcoin is clearly designed as a P2P currency.

My most important crypto advice is - There's always an opportunity, so don't be in a haste
REMARK: Some people join the market hastily without proper analysis maybe because of some testimonies of fortune by their friends. They believe that if not that time, it can never be. It is fine to understand that there's always and there'll always be be opportunities in the industry.

Quote from: 348Judah on June 25, 2024, 10:35:09 AM

9. Avoid overconfidence

What is your definition of over confidence in this context;
Failing to take premature profit;
Or
HODLing.

AYOBA

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Activity: 448

Merit: 163

The most important advice about the crypto is to know the what you're here for, which are the basics of the cryptocurrencies block chains and the fundamentals technology and analysis, those are the keys of cryptocurrencies once you've known them all you will not find anything so the difficult again. And again in crypto there some words call seen phase which is our private key, is not something that we can play because when you lose it means you have loss all the assets you been keep for a while, that's why is very important to keep it well in a safe place.
The reason why people's always given advice about this private key is that there somes that are very careless; that they will been keeping it inside their phone, immediately the phone lose they can easily access to all your assets.

Adams0001

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Quote from: Rockstarguy on June 26, 2024, 02:55:27 AM

Only invest what you can afford to lose and never be in competition to have the same amount of investment with other people because we are of different value when it comes to income, so it is important to know as investor just go with what one can afford without stress. Investment is personal, never invest because some other people are investing. Do your research and understand why an asset needs to be invested. One thing never to take for granted is security, every password and seedphrase must be treated with care to protect assets. Trying to educate one's self is also important too, it helps in making oe to know the right things to do for an investment to be successful.

That is my goal; invest what you can afford to lose, and you must develop streams of income because you cannot achieve anything without them. Investment is extremely beneficial if you understand it properly and invest for the long term to make a lot of money. My advise to someone is to safeguard everything that can lead to losing an asset or finances and keep it to yourself rather than distributing it to anybody else. And the essential point is that your password, you should not trust anybody and try to give your password with anyone because he can lead to the loss of coin in your wallet, so be wise in all what you are doing and stop telling people what you have in your wallet because that is why some scammers put eyes on you to try all there possible best and get access and stole your funds. so don't truest anyone in online that try to ask you for your detailed because if you try and told him your secret that all. if you keep your privacy self and without telling anyone and continue your investment you will succeed.

Su-asa

sr. member

Activity: 504

Merit: 300

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My first crypto advice to anyone is that we should always keep our seed phrase in a proper place that's safe. Without seed phrase there will be no access to our coins.
Secondly, privacy as a Bitcoiner you don't need to showcases your assets because the eyes of scammers are on anyone who's into crypto currency, both the government are after anyone who is into crypto currency because they also seed a bitcoiner as someone who's doing fraud. So as this is concern, we have to keep our assets on a low-key so that people will not hear about our assets.
Research: Never fail to do your own research, it's important for a bitcoiner to always read anything that has to do with Bitcoin and he sees anything suspicious, he should endeavor to do his own research for proper knowledge.
A person who's getting ready to invest on Bitcoin should also know what he can afford to risk and what he can not afford to risk.
Concentration, is another thing a Bitcoiner needs, focus and know what you wants and what you are doing, if you are planning on long term investment, focus on it. If you are planning on short term investment also focus on that but the best one I advise anyone for is long term investment.

ultrloa

legendary

Activity: 2758

Merit: 1228

Don't share much information about your activities be anonymous always.
Don't flaunt your balances anywhere you might be the target of scam or frauds.
Don't rush any investment decision, Always do your research if the programs you are participating is legit. Background checking is always important.
Don't feel greedy on someone's result. Slow and steady start is good then always aim to improve.
Don't share your success to any random people. There might be some people will get envy in your result and do something that can harm you.
Always have doubts on everything and don't easily believe on what people say even if he's reputable people since not every words they say is true. So verify and know more deeper about the information you want to learn.

There are just few things that need to consider by people who's starting up in industry and for sure there would be a lot of things they discover since they could experience a lot of thing which can help them learn more about crypto.

Rockstarguy

hero member

Activity: 1050

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Only invest what you can afford to lose and never be in competition to have the same amount of investment with other people because we are of different value when it comes to income, so it is important to know as investor just go with what one can afford without stress. Investment is personal, never invest because some other people are investing. Do your research and understand why an asset needs to be invested. One thing never to take for granted is security, every password and seedphrase must be treated with care to protect assets. Trying to educate one's self is also important too, it helps in making oe to know the right things to do for an investment to be successful.

Ivystar5

jr. member

Activity: 19

Merit: 4

1. Read as much as you can - Every resource shared in this forum has alot of information that needs to be consumed if you read them you will have all that information.
2. Try as much as possible to be private, your keys etc - every thing should be private. privacy oriented should be a goal.
3. Accept corrections - life is too short to be mad, when you're wrong in this forum just accept the correct and don't take any thing to heart.
4. Learn to have a thick skin - You will encounter opposites but don't take them as personal attacks and don't attack others too.
5. Take risk as much as you can - life is full of risk, bitcoin is also risky so take it to the fullest and hope for the best.
6. Invest what you can afford to lose.
7. Hodl your coins in a non custodian wallet
8. Keep hodling
9. Re-read everything

SquirrelJulietGarden

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Quote from: bananaunana on June 25, 2024, 10:13:07 AM

My most important crypto advice is "not your keys - not your coins" because it is simply a very important advice, where we should be aware to have real access to our coins and don't need to rely on a middleman.

Not your keys, not your coins video from Andreas Antonopoulos.
Security checklist
Reminder: do not keep your money in online accounts

Importance of Bitcoin private key on control of your bitcoin is presented in above resources.

Quote

Bitcoin is clearly designed as a P2P currency.

It is about transactions but with private keys, you have control on your coins and your transactions too, full controls. You can use P2P exchange service but if you don't have private keys, you don't control your coin and transactions, hence you have to rely on that P2P exchange service.

Publictalk792

sr. member

Activity: 448

Merit: 354

My most important crypto advice is Never invest more than you can afford to lose. This is really important because we know cryptocurrency market is highly volatile and prices can fluctuate quickly. It is good to prioritize risk management and only invest funds that won't significantly impact your financial well being if lost. This advice help you to maintain safe and responsible approach to crypto investments.
And I strongly agree with your advice too
not your keys not your coins. This is also top crypto tip too because it is essential to have total control over our digital money.

HajiBagi

sr. member

Activity: 756

Merit: 353

Quote from: C10H15N on June 25, 2024, 11:39:26 AM

1. Buy
2. HODL
3. Not your Keys - Not Your Coin
4. Keep your mouth shut.
5. See #4

Keeping your mouth shut is the best way to protect our coin it is also one of the best ways to keep our lives safe, not everyone is happy with what we have and not everyone wants us to succeed in life, did you know that some people are jealousy of you just because you have been blessed with something that they didn’t have? Let's talk about preventing our coin or our investments, for some of us our mouth can not hide a secret from friends and other people, so it is very important to know how to keep your secret to yourself because when you start telling people about your investments gradually you will see some of them will want to get close so that they can hurt you or get close to how they can scam you.

Some people can make a setup by hiring people to kidnap you so that they will have what you have been working for a long time, people are very heartless and the way you tell them your secrets is the way they will get access to you and hurt you, no matter how close you are with a person don’t ever tell him that you have a coin you are holding, I have heard a story where the children kidnapped themselves and ask their dad for a ransom and to pay it in a bitcoin, that shows that the children know their dad secret and also knows he’s holding bitcoin.

Sebas.tian

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Invest what you can afford to lose in cryptocurrency investment is one of the important advice to newbie, meaning, don't invest all your funds in cryptocurrency investment because the investment is different from centralized investment which you don't need to sell when the bearish season is still flowing in the market. Not your key not your coins which is another good advice to newbie to make a good choice to embrace a solid wallet to store their coins and save their seeds phrase and other personal details away from people, and it will be difficult for anyone to have access to their coins. Never you share your personal details to strangers in the community which is another good advice to newbie, because many newbie has loss their capital in the past, because they exposed their personal details to strangers in the community.

GreatArkansas

legendary

Activity: 2534

Merit: 1397

You must know what you are doing before you put out your money.
This is very important because cryptocurrency involves money or our hard-earned money, we must protect it at all costs. So never ever put your money in things that you don't know, take time to learn it know first.

Zaguru12

hero member

Activity: 868

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It seems almost post above have pointed out the need to do your research and not storing your coins on centralized exchanges. On security level I will say, your best wallet is the cold wallet. Using cold wallet or any reputable wallet doesn’t mean your funds are safe or secure, it is also most important to properly and securely backup the wallet keys and seed phrase.

When making a decision to invest into cryptocurrency, only bitcoin is worth of been called an investment, buying Altcoins are just pure gamble no matter where they sit on the ranking ladder. Invest with an amount that you can afford to lose even if you’re investing into bitcoin. Learn to take profits from mostly Altcoins, they are very risky to hodl for long not like bitcoin.

Topic: Your most important crypto advice? - page 4. (Read 847 times)