Things to remind yourself about crypto every year

Most people reading this know all of these things. Sometimes with crypto it is easy to get sucked down the rabbit hole and forget some of the basics that you knew on day 1. Just a refresher.

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1. Greed can make you rich in crypto, but it more often makes you miss selling near the ATH. You need to take profits to realize your gains.
2. It is very very hard to time the market at lows and highs. Dollar cost averaging (DCA) is buying (this can also be used for selling) at a set time point regardless of the price. Many people who say they are DCAing are actually value investing which is buying when you think the price is low (buying the dip, crash). Decide how you are going to invest when you start.
3. There are people that have bigger bags than you and know how to manipulate the markets and how to take profits. Always assume someone knows more than you.
4. Buy High, Sell Low is the official motto of this sub.
5. One of the best ways to drive crypto adoption is to use crypto. If you see the opportunity to buy with crypto do it. If you can purchase NFT tickets or a NFT subscription, do it. Trying to hammer crypto into friends and family will often make them dig into being anti crypto.
6. Recognize that whoever is telling you about a crypto has a reason why they are doing it. These range from being paid to promote a crypto (very common with YouTube, TikTok, Twitter, and Instagram), owning that crypto and trying to increase demand, earning from generating content (this could be via ads, via MOONs, flat fee for content creation, getting more followers). There is a lot of good advice out there. There is a lot of terrible advice out there.
7. People have different definitions of different terms. An example is shitcoin. Some people think anything except BTC is a shitcoin. Others think they everything outside of top 50 coins is a shitcoin. Others think meme coins and coins without a utility are shitcoins. A low cap investor will have a very definition than a BTC maxi.
8. There are different ways to play with leverage. Using perpetual contracts allow you to do many more times the leverage, but if you are liquidated you often lose all your collateral. Using lending contracts (you deposit $100 of crypto, borrow $80, deposit that $80, borrow $64, etc) is a less risky form of leverage where even if you are liquidated you still keep what you borrowed. Using lending protocols and stablecoins is a lower risk leverage option. Leverage is a good way to lose money.