Hey everyone, thanks in advance for (hopefully) reading this.

For some time now I have been thinking of finally starting my great adventure in the realms of cryptocurrency.

Some people I know have dabbled in it for a while now and have had some successes. I would like to try this and see it as an opportunity to generate some extra income.

My questions are;

1 What is a relatively safe strategy for buying and selling?

I was thinking of following a friend of mine. He starts out with buying a certain altcoin for lets say €5000,-. If the coins price goes up, he sells for €5000,- again. Keeping the amount that the investment has gone up.

When (If) the price drops down again he buys again for €5000,-.

Effectively he ends up with more coins than he started with, and at some point he sells them all and moves on to another. This sometimes happens within an hour or even less.

2 Would it be wise to follow news regarding crypto, if yes, what are some trustworthy news-outlets and what should I be mindful of?

3 Are altcoins, shitcoins and memecoins worth the trouble? Or should I stick with the big names such as ETH, Bitcoin and Bitcoin Cash?

4 What is a trustworthy and reliable platform to use for trading? I was thinking of using Bitvavo.

5 Any other tips, tricks and advice is more than welcome. I'm just another sucker trying to make it in life.

Hope to hear from you,

Cheers,

Dean