10 Best Crypto Tips that I learned through the years
- Always do your own research and understand the asset you want to invest into. Do not invest in hype and risky crypto, unless you are disciplined enough to know when to enter and exit.
- Always invest what you can afford to lose. First ensure that you have savings and an emergency fund for any case and then invest. Do not invest your savings, do not invest money you will need anytime soon.
- DCA (Dollar Cost Averaging) / buying and investing an amount regularly, every week or month (if you have a stable income) no matter the price, is the best strategy over the long term.
- Learn how to manage your emotions. Fear and greed are your two biggest enemies. Always remain calm in investing and business. As long as your underlying thesis for your investment and its fundamentals haven't changed, neither should your emotions. Emotions may serve you well in your personal life, but they have no place in your investing decisions.
- Do NOT be greedy and fall into the trap of selling to buy back cheaper and do NOT trade if you don't have strong experience and you haven't studied basic finance and how markets work. Most people who attempt to trade lose their money.
- Do not FOMO buy, especially with money you didn't intend to invest before the run. Wait for corrections.
- Do NOT store your crypto on exchanges. Own your keys, be your own bank, that's the whole point of crypto. Save your private key/seed/words only in paper/physical place and make many copies and put them somewhere safe. Hardware wallets are the most secure wallets.
- Learn how to manage risk, know what investor you are and how risk tolerant you are and build a good strategy and plan you can follow.
- Do not follow and watch nonsense price predictions, "TA" and fake hype youtube videos. Stick to fundamentals, real news, utility and adoption.
- Relax and enjoy the ride. This is just the beginning of the most important decade for crypto and blockchain. There will be crashes/corrections in between, but the long term is what matters, and in the long term the only way is up for the crypto industry as a whole.