This is just a friendly reminder/advice for anyone new to crypto.Do your own research. No one here knows enough to be giving financial advice. Also learn how to spot scams from real projects.Not your keys, not your coins. This means if you leave your holdings on an exchange, it is susceptible to hacks and you can lose everything. Get a ledger/trezor and keep your crypto safe!Don’t disclose how much crypto you hold on here or anywhere.Dips and corrections happen, sometimes up to -40% in a day. Don’t get weak hands, hodl.The easiest way to invest stress free is to DCA (dollar cost averaging). Take a certain amount you are willing to lose from your paycheck and periodically and automatically invest, which leads to my next point:DON’T INVEST MORE THAN YOU CAN AFFORD TO LOSE. People have literally lost homes, family and friends because of this. Be smart.Have an exit strategy ready. Typically you want to have an end goal in mind and know how to exit the market quickly and efficiently. This is especially important if you plan to ride “the big one”. The market can drop very quickly so have a plan.Don’t forget about taxes! In many countries, each trade is considered a taxable event. Make sure you record everything as to not get screwed later on.This is not a get rich quick scheme. This is a very young industry with plenty of time left to mature.99% of coins will fail. This is why it is so important to do your own research and take advice with a grain of salt (yes including this i guess).
Submitted June 28, 2019 at 11:12PM
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