Write down your keys. Write them down twice with instructions like you were talking to a golden retriever. Test them and try to restore so you know the software is legit.The exchange only seems like a good wallet til they are hacked. Remember the term "Not your keys, not your crypto" Edit. To emphasize this please remember most transactions on your apps are not stored on the immutable blockchain (the whole point of crypto). Your basically giving organizations money for zeroes on a screen until you withdraw then it's put on the blockchain.I personally don't have a problem with anyone keeping their funds long term on kyc established sites like coinbase as long as you have 2fa and have confirmation its on the blockchain but I'd stay away from holding it at places - there's a ton- that are not reputable. They're never gonna care as much as you do.Dollar cost average to minimize losses.Always buy the dip and hold or have an exact game plan for stop limits if you are a trader. (If your a trader you know this obviously) more for people who can't tolerate risk.Take profits but never sell the whole bag. I ditched 200 solana for 1g. Yes im an idiot.Low transaction count is easier to keep track of and always keep track! Will make tax time easier.Dont try and hide it your not doing anything wrong or illegal as of time of writing.Do hide it from friends and family, if your not married why does the SO need to know. I know it's exciting but they will expect same results and will most likely not put the effort in and get pissed.Stake stake stake.Think about the next 3-6 years and how many boomers will be scammed because they gave away their seed. Calling their grandson in to fix they're banking problem to find out they've lost all of their life savings. We haven't even got started on the loss porn. Gonna be tragic. Don't be one of those ppl.DONT ever send crypto to anyone you don't expressly know no matter how legit. especially exchange support. First thought should be assuming your being scammed as soon as you get a message requesting crypto or clock in for work. I was scammed out of 1000 ADA. Yes im an idiot.Know your investments and research or when it dips you will not believe in the project and want to sell.There is no get rich quick scheme, time is the only thing that will grow your portfolio.Btc and Eth are without a doubt the safest long term investment...don't expect your eth shitcoin to be there long term.Eth gas fees are super high don't mess w those transactions unless you like lighting a match to hundreds of dollars. Token Metrics recommends at least 25k in Eth to make the fees worth it.Always send a little amount first to make sure everything legit- one rule I follow is when copy pasting checking the first three and last three letters of the TX address.Secure your moons there is a vault phrase for them.Use 2fa.Whitelist your w/d addresses. Can't stress this enough.Most rug pulls start with the ICO... Squid was predictable. I would try asking yourself what is the usecase and reason people will buy this project..Maybe it could've pumped like Shib? Well never know.To everyone asking if I'm ok...yes im fine I've learned all the lessons the hard way actually pretty stoked for the next few years.Edit- Rules 14 on are from the comments and i thought were necessary. Also thanks to all for the support and kindness. I genuinely give 0 fucks about moon farming. Just don't want ppl to deal with the same helplessness I went through. I rarely post and the psychology and hate of the internet comment culture is so toxic and hateful. I'm amazed but indifferent so do your worst. Not financial advice just opinion and my experience.
Submitted November 02, 2021 at 07:03AM
No comments:
Post a Comment