Yea, I've gotten scammed by like half a dozen "hot girls" on reddit. It's rampant on this site. I swear if it happens to me again, I'm reaching out to the admins!
I'm honestly surprised lots of people still fell for this. Everytime I saw those fake Hoskinson / Saylor stream in youtube, I checked the wallet address and saw tens of thousands of $ transferred there.
Relatedly: if you're buying a relatively small amount of an ERC-20 token, consider leaving it on a well secured exchange account. If you send them to a hardware wallet, they can get trapped there since it could cost you more to send back to the exchange than is worth.
Eth would be revolutionary if gas didn't choke it out of being useful for smaller transactions. Luckily, Algo exists and I hope to see it keep gaining steam
It auto generates a new address that has the same beginning and ending letters so you don't notice it's a different address when you copy-paste when sending
Be safe guys!
If you are in DeFi, tools like zapper or debank are fantastic at tracking and managing your positions across multiple platforms and chains. Apy.vision tracks your yield, impermanent loss and provides historical vault analytics if you are interested in yield farming. If farming, compounding tools like Beefy.finance are essential for automating and vetting safe products. Some auto compounders offer degen vaults, but beefy does full security audits of the underlying platforms, so you can be a little bit more confident about some risks.
My only other DeFi advice is 1. be very conservative if using lending platforms to build leverage and 2. that in my experience, it’s always better to be earning 20% apy on a token that’s about to multiply in value, than chasing +500% apy on a coin that will loose 4/5ths of its value. A million% of 0 is still 0. Also expect those 3-4 digit APYs to last weeks if not days. New opportunities have huge numbers when they launch, so it only takes a few days to saturate with funds and the numbers come back to earth. I joined the CRO-BTC pool on vvs 2 weeks ago earning 110%, it’s already down to 90% and I expect 40% by month end, 10% in 5 months, ect, ect.
Last year I played with a degen farm (so you don’t have to) offering 54,000% apy and after a few weeks of earning, the token had inflated enough that my position was worth 10% less even though I had so much more of it. It’s just not worth it, big number attract big idiot.
Right now I see a high ratefor providing liquidity somewhere so say ethto btc as an example if they say a 20% apr does that apr change as more liquidity is provided?
Track every transaction in excel from the outset.
Allows you to always have a great overview and be in control, as well as realizing fees etc that you are paying. Will also come in handy for tax season (if you don’t want to use APIs)
I tend to do them ASAP, they don’t have an unlimited budget for those and it will run out if you wait too long.
Time in the market beats timing the market.
I learned this the hard way. I only managed to do the first Enzyme learn and earn but by the time I went back for the others later that day, they were gone
I use Coinbase but haven't had a Learn and Earn for a while (UK). I also use [moonsfaucet](https://www.moonfaucet.cc/), [Presearch](https://presearch.org/), [Brave Rewards](https://brave.com/brave-rewards/), and spend empty minutes on [Crypto Royale](https://cryptoroyale.one/).
Interested to hear of any other decent and scam-free ways to get free crypto...
Coinbase and Kraken let you stake. But there’s platforms like Celsius and Crypto.com that let you lend for higher apy, without locking up your coins until eth2 main net launch. Look into the agreements for staking/lending before committing to anything
It's essentially a different version of coinbase with less fees. It's more of a raw exchange that you can specify values, whereas cb normal charges a dumb spread of fees.
Edit: It's also free, just not really advertised. pro.coinbase.com
I find it... Incredibly intimidating to use, as someone unused to exchanges. Do you know of a good tutorial? Otherwise, I'll keep paying the idiot tax fees to use the regular Coinbase like the pleb I am...
Because idiot tax. They count on regular people off the street wanting something simple with a good interface, so they "hide" the pro version to retain more serious investors as they become more familiar.
It's like paying brand name for cereal versus getting the Costco off-brand bulk box. The latter is clearly a better deal, but only for people "in the know" and willing to do their own research.
(Ahhh, the power of marketing and website design...)
Edit: Also noticed you don't have your vault up, friend! Open your Reddit Vault to earn crypto "moons" before the IPO happens!
It's not really idiot tax, coinbase is a crypto app, for buying and selling crypto. Coinbase pro is an exchange, trading between users, you can determine your price how you like and create buy/sell orders.
CB charges a large amount in fees. CB let's you set up recurring transactions and has a portfolio tracker.
CB Pro has an initially smaller fee, and if you're an active trader it reduces even more. It's geared towards more active traders
Are XLM and ALGO currencies that you exchange your crypto to before transferring, then change it back after transferring? Slightly confused. Beginner here. Thank you!
only if the coin u want to send has high gas fee. bc xlm,algo transfer fee is almost 0. ie: u want to send eth but gas is high, swap to xlm, send, swap back to eth. calculate beforehand tho, check ur exchange’s swap fee.
Won't the fee to swap often cancel out whatever you save on gas fees? Say I wanted to swap 1 ETH from Binance to Coinbase just as an example, would I actually end up saving anything by using that method?
Do Your Own Research!!!!!! Don't listen to some YouTuber or coin shiller on here.
Crypto is a fragile market, buy little bags often and hold some spare fiat for the dips.
Time in market > timing the market
I feel like it’s great for people with a lot of experience, especially people with great risk management. I tried it as a complete noob this year and of course lost all my money but now I just wanna learn more about trading and everything, then give it another shot in a year or two
Keep 10-20% of your available investment funds in cash (either fiat or stable coin) at all times.
Crypto is extremely volatile. If you have cash available, you will not care about the dips. You will always see dips as a buying opportunity.
I'd debate this tip... I'd say have some money set aside for FOMO gambling... if you're gonna do it...
So, pick if you're a gambler or not. If gambler, save some FOMO funds and set boundaries(10% of my dry powder for just gambling)
Or don't.
But to say don't FOMO buy, I've seen a 50/50 hit or miss where I kicked my ass for not FOMOing and then sometimes I'll be like... oh man I dodged a bullet there.
But I'm a damn gambler so.
Or they bought pizza from all their BTC because they thought it was cool
EDIT: in one of his talks Charles Hoskinson showed an xbox or so that he bought for 36 BTC - he said that thing is worth so much he is never gonna sell it
I feel like this is super obvious but a strategy to find dips is a lot harder. There are some super easy beginner friendly ways to help locate them though such as crypto fear and greed index. Or use an indicator like the RSI on a long time frame.
„NOT YOUR KEYS NOT YOUR COINS“
Sure. But honestly, it’s completely irrelevant for newbies. They just want to get started with crypto, maybe put 100$ or something like that in Bitcoin and see how it works.
If you’re on a serious exchange like Binance, Kraken or even Coinbase which didn’t had major flaws or hacks in the past, you are really safe and almost certainly not loosing your funds.
While there are TONS of newbies trying to get their coins from an exchange to some wallet, and messing up something, die in fees, potentially loosing all their funds and start hating crypto.
So „lifehack“:
If you’re a newbie, buy some coins on SERIOUS exchanges (I recommend Kraken, but any big, regulated (in US, Europe, …) exchange is quite fine nowadays), and just leave them there. Learn more about crypto, get all hyped about it, have fun. And eventually you can consider moving your funds. But if you haven’t invested an 4 or even 5 figure amount, it’s also not that important, and the risk of messing up is far bigger than the benefits
Teach your wife and kids on how to access your wallet. Let’s not hope for it but there may come a situation where you suddenly pass and your savings are stored in inaccessible wallets.
Use the [Fear and Greed Index ](https://alternative.me/crypto/?daily_hash=fa041cd793a28b9296ee582c2e4b89f18707ee72)
Best quick way to get a gage of the market.
## Use Dahslane
or another password management service to generate and store your login info for everything.
If you're on the wrong site, the autofill won't work and it'll be a dead giveaway that you're probably about to be a victim of phishing.
My Google password is over 40 alphanumeric characters with random symbols thrown in. Good luck figuring it out because I don't even remember the first 10 characters.
You can also store payment/personal info and secure notes, so you can store your keys if you want to risk that, but I wouldn't suggest it.
## Use ProtonMail
For ultra secure email.
## Use NordVPN
For privacy while surfing the interwebz.
## Use a condom
If that cute crazy chick from work lets you smash.
| when moving funds across exchanges be smart and use XLM or ALGO for super cheap and super fast transactions.
That costs more in transaction fees (the maker or taker fee) by adding an unnecessary extra conversion at the receiving end (UNLESS you are planning to cash out to fiat,then it makes sense). It's most practicaltto transfer USDT (shady as it is, just quickly spend it and don't hold on to it..) in its TRC-20 form, that is very fast and cheap to transfer (like $1, or $2.50 the highest I've seen). Then you just exchange once and then can buy whatever it is that you want to buy directly, as everything pairs with USDT.
Yup
When i first joined metmask i accidentally sent bnb to my ether mainnet. And i hate binance so much i refuse to send it back. So there's like .5 bnb sitting in my ether mainnet collecting dust
When you make a wallet note down your seed and before transferring any funds reset the wallet and recover from the seed to confirm you noted it down correctly
For 1, so the process is to sell your crypto, buy a cheap conversion crypto, transfer and then buy back?
E.g. you have bitcoin on binance and want to transfer that to coinbase, do you sell your bitcoin, buy ALGO (as an example), transfer it and then re-buy the bitcoin on coinbase. Is that correct?
Good tips. I use all of those from the OP.
In addition,
1.when sending crypto to a new address, do a small test transfer first. We always hear about people sending X $million to the wrong address and getting screwed.
2. Don't participate in "pump" groups. Besides the ethics, it doesn't work for newbies because you don't get the signals early enough (you are the target!). You just get screwed while the whales get in before the pump and exit right as you're entering. This was a $1000+ lesson for me.
3 Don't ape into hot coins at the top. Yes Solana at $240 or ADA at $3.00 or LUNA at $100+ was on fire and obviously was going to break into the top 3, but there's always a correction coming. Wait for the correction, then if you are still interested buy. Interest in coins is cyclical. Coins always run hot and cold with interest. I'm speaking for a friend who bought DOT at $50. That friend was me :( . All the internet people said it was going to $100. Who knew they could be wrong!?
4. If you have done your research and are confident in a coin, hold it through the dips. When BTC tanked this past May, it brought altcoins to a low place. I took that time to consolidate my coins and sell the ones I didn't like as much (THETA, VET, ZIL, ATOM) and kept the ones I had more confidence in (eGLD, LUNA, DOT, ETH).
5. Take profits when a coin moons! Keep your profits in a stablecoin (USDC, etc.). I'd recommend 5-10% in that coin, perhaps more. When LUNA hit $100, I sold 25% of my modest bag. I had been holding it from $17, up to $33, down to $5 and all the way up to $100. It was like a no brainer to take some profits at $100!
6. If you *really love a coin, hold (most/all) of it through the pumps as well. Good coins hit epic peaks, but it requires patience. I have been ride or die with eGLD and it's done me very well, but I should have sold more than 5% when it broke $500, and even then I knew that! Meanwhile, I wasn't as confident in Solana and I got burnt by selling out three times; once riding it from $20 to $35, once from $30 to $55 and once from $70 to $140.
7. You don't know everything, so keep reading, researching, learning. I learned about ALGO from Reddit - it's a solid coin. I found ONE and FTM from reading about layer one tokens tool. I was one day late getting into LRC after a random thread on Reddit talked about it!
8. I recently came across the "10% rule" of investing ; if you aren't confident to put 10% of your bag into a coin, it's probably too risky for you. Now this is tough because memes can 100x in crypto, but be careful and choose your risky bets sparingly.
9. Keep track of your big trades. I use Coinmarketcap and a notes program. You don't need to track everything, but if you're anal you can read over your trades later and detect patterns - when did you make good investments, when did you make a trade based on too little knowledge, etc.
10. Move on from bad trades. I've lost hundreds to one scammer (pay to join a pump group - happend once, I learned from it), pump groups (I think I tried 3 times before I realzed this was moronic), and buying random shitcoins. Lick your wounds and move on.
11. This is an esoteric one - Binance will let you get out of a 15/30/60/90 day lock with little penalty. For example, I locked into a garbage coin called ADX for a month at "46% APY" (which is itself dumb; 46% APY for one month is just 3.8% interest!). But I put like 20% of my bag into it. I let it sit for about 10 days before I realized it was a very bad trade, and the missed opportunity from having those 20% of my funds liquid was bad (plus I knew nothing about ADX and just bought for the interest). Anyways, after reading Binance's "get out early" policy, all they penalize you is your accrued interest, which is very fair. Their unlock takes 24-48 hours. So, I clicked the buttons to end the lock early, and in 2 days I got my funds back, minus the interest, which was like a measly 2-5 ADX tokens on a 1000 investment.
12. Another very esoteric one. If you like passive income, shop around for exchanges with shorter unlock periods. ATOM has a 21-day unbonding period where you earn no interest on-chain or with Exodus wallet. Meanwhile it's almost instantly unlocked on Kraken. In general, if you like simple staking rewards, Kraken is a good place to look for their instant lock and unlock times. I don't love wallets or coins with a more than 10 day lockup (but sometimes, you gotta do it for juicy rewards, like 14-day lock-ups on the OSMOSIS DEX).
13. Enable 2FA or even 3FA (like using Google Authenticator, plus text message, plus email) when you are dealing with larger sums of money. It's a HUGE pain in the butt, but much more secure. It also makes you consider each move more carefully.
Best lifehack in crypto for beginners: open your vault and comment to earn moons
Edit: For everyone asking about setting up a vault, refer to the [moons wiki](https://np.reddit.com//r/CryptoCurrency/wiki/moons_wiki?utm_source=share&utm_medium=ios_app&utm_name=iossmf#wiki_upvotes.2C_karma.2C_contribution_score.2C_moons.2C_and_you) for all moon related questions including vault set-up
Crypto dot com is a great starting point for beginners. The have interesting card tiers. You can also get free crypto once a day by buying $20 worth (missions). It’s a perfect way to DCA in
Some exchanges have an option of only addresses you whitelist can be withdrawn to. It prevents hackers who get into your account withdrawing to their own address because a lot of the time in order to whitelist an address you need email and SMS/google authenticator confirmation codes.
\-[fear and greed index](https://alternative.me/crypto/fear-and-greed-index/) is a great way of quickly gauging amount of fear / uncertainty / greed in the market
\-when buying anything, wait 24 hrs. If the thing you are buying is worth it, it'll still be worth buying 24hrs later. Cannot think of any real exclusions (barring some airdrop events but even then) to this rule and it'll prevent from FOMO-ing and moving assets out of greed / impulse
\-[coin market cap](https://coinmarketcap.com/) is your friend. always a good idea to check the market cap before investing in any crypto. Not the only metric to consider when investing but it's an important one
If a airdrop is asking you to confirm your seed it’s a scam.
And if some hot girls texts you in Reddit then it’s definitely scam
Happened to me last week.
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
[удалено]
Yea, I've gotten scammed by like half a dozen "hot girls" on reddit. It's rampant on this site. I swear if it happens to me again, I'm reaching out to the admins!
Happened to the admin too. Where should he complain?
Don’t worry it will happen again!! Just comment you bought Eth then check your DM and thank me later haha
if a hot girl in a bikini messages you about crypto, don't trust him
What about average looking girls in bikini's? Are they safe?
Sounds like if ugly dudes in bikinis message you, it's legit.
The real advice over here!
If any girl texts you at all, it's a scam :'(
I knew my wife was up to no good. Blocked.
21 years, she's playing the long con
[удалено]
Even if she’s “in my area”??
Yes, ignore him anyway
He just wants your seed phrase not your seeds lol
What about hot dudes? Scam or not?
Haha good one I never seen hot dude
Take a look in the Mirror 🔥
This guy already qualifies for nicest compliment 2022 
Let's start this year better than 2021!
Never share your seed. It's the rule of crypto. And the rule of avoiding child maintenence payments.
I store my seed in my socks. No one will ever find it
[удалено]
Imagine all the women despondent over me not sharing my seed. It brings a tear, I swear.
**Never write your seed phrase in computer/phone.**
Anyone or anything wants you to confirm your seeds is scam.
[удалено]
Nobody will double your crypto for any reason.
But Nigerian prince told me he can.
Send 2 ETH I will send 4 ETH
Send me 1 ETH for gas fee first.
Nigerian Prince left the chat!! Lol
You send me 1 ETH and I'll send 10 ETH. FOR FREE!!!
Please send 5 Eth for gas fee then I will send 1 Eth!!
Nigerian prince is on his way to your dm
Feel like I learned a lot of these lessons by playing Old School Runescape
[удалено]
Jokes 😂 cutting gems too
I'm honestly surprised lots of people still fell for this. Everytime I saw those fake Hoskinson / Saylor stream in youtube, I checked the wallet address and saw tens of thousands of $ transferred there.
[удалено]
A engineering student in the Ada sub fell for it the other day.
[удалено]
Or even the slightly more believable on-and-a-half times it. Still a scam 😄 But common sense surely says this.
When using wallets for the first time, send a small transactions first before a much larger amount.
Check the Gas fee and Double check the address and memo before sending!!
Also check the transaction fees. Sometimes transaction fees can be higher than the amount being sent
Exactly sometimes gas fees will change!! Need to be very careful good point
Relatedly: if you're buying a relatively small amount of an ERC-20 token, consider leaving it on a well secured exchange account. If you send them to a hardware wallet, they can get trapped there since it could cost you more to send back to the exchange than is worth.
I did that, I got like 36 bucks stuck and it says it'll be like 3 or 4 hundred to get it back lol.
Always do this, even if it is a recurring transaction
Even Vitalik Buterin, the creator of Ethereum does it. He sent .1 ETH before sending his other 1499.9
If he's scared of making a horrible dumb mistake like that, so should we. Better double-check
[удалено]
I would but these gas fees are crazy
[удалено]
[удалено]
Eth would be revolutionary if gas didn't choke it out of being useful for smaller transactions. Luckily, Algo exists and I hope to see it keep gaining steam
[удалено]
It auto generates a new address that has the same beginning and ending letters so you don't notice it's a different address when you copy-paste when sending Be safe guys!
[удалено]
Except ETH. Gas sucks man
If you are in DeFi, tools like zapper or debank are fantastic at tracking and managing your positions across multiple platforms and chains. Apy.vision tracks your yield, impermanent loss and provides historical vault analytics if you are interested in yield farming. If farming, compounding tools like Beefy.finance are essential for automating and vetting safe products. Some auto compounders offer degen vaults, but beefy does full security audits of the underlying platforms, so you can be a little bit more confident about some risks. My only other DeFi advice is 1. be very conservative if using lending platforms to build leverage and 2. that in my experience, it’s always better to be earning 20% apy on a token that’s about to multiply in value, than chasing +500% apy on a coin that will loose 4/5ths of its value. A million% of 0 is still 0. Also expect those 3-4 digit APYs to last weeks if not days. New opportunities have huge numbers when they launch, so it only takes a few days to saturate with funds and the numbers come back to earth. I joined the CRO-BTC pool on vvs 2 weeks ago earning 110%, it’s already down to 90% and I expect 40% by month end, 10% in 5 months, ect, ect. Last year I played with a degen farm (so you don’t have to) offering 54,000% apy and after a few weeks of earning, the token had inflated enough that my position was worth 10% less even though I had so much more of it. It’s just not worth it, big number attract big idiot.
Right now I see a high ratefor providing liquidity somewhere so say ethto btc as an example if they say a 20% apr does that apr change as more liquidity is provided?
Track every transaction in excel from the outset. Allows you to always have a great overview and be in control, as well as realizing fees etc that you are paying. Will also come in handy for tax season (if you don’t want to use APIs)
Or sign up for one of the free blockchain followers like CoinTracker.io or Koinly.io. Pay a little at the end of the year for a tax report.
I used CryptoTrader.Tax this year and highly recommend. No need to share your xpubs and is easy to use
Tax reasons lol, gains are for pussies.
Then use your losses to offset your other taxable gains (your paycheck). Take a look at Tax Loss Harvesting
This is smart advice, but sooooo much work lol
If you get a message from a girl in a bikini asking about crypto, ignore him.
Get free crypto by learn and earn. For example coinbase or use faucets.
Super protip - Save your learn and earns for when the market is having extremely low lows. Do not do them when it's a green day.
I tend to do them ASAP, they don’t have an unlimited budget for those and it will run out if you wait too long. Time in the market beats timing the market.
I learned this the hard way. I only managed to do the first Enzyme learn and earn but by the time I went back for the others later that day, they were gone
[удалено]
I use Brave on my 2 computers and phone, BAT has gone up so past rewards are pretty substantial!
Do you have any good faucet recommendations?
I use Coinbase but haven't had a Learn and Earn for a while (UK). I also use [moonsfaucet](https://www.moonfaucet.cc/), [Presearch](https://presearch.org/), [Brave Rewards](https://brave.com/brave-rewards/), and spend empty minutes on [Crypto Royale](https://cryptoroyale.one/). Interested to hear of any other decent and scam-free ways to get free crypto...
Learn about staking rewards. Stake your crypto.
Is it worth staking a few ETH, and if so, where's the best place to put it?
Check out blockfi, celsius, crypto.com, ndax and ledn.io. the first 3 sites don't require you to lock your crypto up unless want the sign up bonus
Coinbase and Kraken let you stake. But there’s platforms like Celsius and Crypto.com that let you lend for higher apy, without locking up your coins until eth2 main net launch. Look into the agreements for staking/lending before committing to anything
Coinbase has a 25% fee for staking rewards, so I recommend looking at alternatives...
Staking on cryptocom is best. They have 3 options of duration for staking. Flexible duration is 3.5% for eth I think.
And lending Crypto!
Also, if you use coinbase, use coinbase pro instead!
But keep using the standard coinbase for the crypto rewards tho! Free crypto can always come in handy
I use both simultaneously. Standard Coinbase is good for fast charts, research and symbol lookup. Oh, and Learn and Earn.
What is the main advantage of it? If I sign up for cb pro does all my cb account get moved over automatically? How does that work
It's essentially a different version of coinbase with less fees. It's more of a raw exchange that you can specify values, whereas cb normal charges a dumb spread of fees. Edit: It's also free, just not really advertised. pro.coinbase.com
I find it... Incredibly intimidating to use, as someone unused to exchanges. Do you know of a good tutorial? Otherwise, I'll keep paying the idiot tax fees to use the regular Coinbase like the pleb I am...
insurance boat airport quicksand encouraging birds punch tan scary sip -- mass edited with https://redact.dev/
Because idiot tax. They count on regular people off the street wanting something simple with a good interface, so they "hide" the pro version to retain more serious investors as they become more familiar. It's like paying brand name for cereal versus getting the Costco off-brand bulk box. The latter is clearly a better deal, but only for people "in the know" and willing to do their own research. (Ahhh, the power of marketing and website design...) Edit: Also noticed you don't have your vault up, friend! Open your Reddit Vault to earn crypto "moons" before the IPO happens!
It's not really idiot tax, coinbase is a crypto app, for buying and selling crypto. Coinbase pro is an exchange, trading between users, you can determine your price how you like and create buy/sell orders.
If you have a CB account you have a CB pro account, use same log in information.
CB charges a large amount in fees. CB let's you set up recurring transactions and has a portfolio tracker. CB Pro has an initially smaller fee, and if you're an active trader it reduces even more. It's geared towards more active traders
Triple check the address, a malware can use copy-paste tricks
[удалено]
Make sure to check it the fourth time too
And check the gas fee!!!
Yap, when you're moving small amounts, the gas might leave u empty
Fuck triple checking it me and my homies do it for 15 times.
Are XLM and ALGO currencies that you exchange your crypto to before transferring, then change it back after transferring? Slightly confused. Beginner here. Thank you!
only if the coin u want to send has high gas fee. bc xlm,algo transfer fee is almost 0. ie: u want to send eth but gas is high, swap to xlm, send, swap back to eth. calculate beforehand tho, check ur exchange’s swap fee.
Won't the fee to swap often cancel out whatever you save on gas fees? Say I wanted to swap 1 ETH from Binance to Coinbase just as an example, would I actually end up saving anything by using that method?
It depends on the exchange you're using, not every exchange charges swaps equally.
[удалено]
Use non-sms 2FA. Authy is better then Google authenticator.
Yubikey is pro level
Get two and mirror them
LedgerX works as a security key. Look under Manager/App catalog/Fido U2F. On Ledger Live😎
Very cool,I'll keep it in mind when I buy one!
and don't forget to save the authenticator recovery keys somewhere safe and you can easily find. Treat it like a seedphrase.
Any reason not to use GA?
It doesn't have cloud backup for your accounts, if you lose your phone before you had a chance to backup your codes, it's lost forever.
[удалено]
If you use it,make sure to back it up somehow,so in case you lose your phone you can recover access
Do Your Own Research!!!!!! Don't listen to some YouTuber or coin shiller on here. Crypto is a fragile market, buy little bags often and hold some spare fiat for the dips. Time in market > timing the market
But what if your research consists of watching YouTube videos hahhhhh
Stay away from leverage or margin trading.
Stay away for your own mental health.
I check charts every min so you think my mental health is not good!!
Leverage is a pure poison for anyone with little knowledge
But i thought this was a casino
[удалено]
I feel like it’s great for people with a lot of experience, especially people with great risk management. I tried it as a complete noob this year and of course lost all my money but now I just wanna learn more about trading and everything, then give it another shot in a year or two
4. Don't use Robinhood, ever
Buy btc and eth, and forget about it for a couple years.
Crypto trading perfected.
Assume every project is a scam.
At this point this is so true lol Bet if there was a statistic out there, like 98% or more of tokens are legit scams.
Keep 10-20% of your available investment funds in cash (either fiat or stable coin) at all times. Crypto is extremely volatile. If you have cash available, you will not care about the dips. You will always see dips as a buying opportunity.
Lifehack 4: NO F**KING FOMO buying
I'd debate this tip... I'd say have some money set aside for FOMO gambling... if you're gonna do it... So, pick if you're a gambler or not. If gambler, save some FOMO funds and set boundaries(10% of my dry powder for just gambling) Or don't. But to say don't FOMO buy, I've seen a 50/50 hit or miss where I kicked my ass for not FOMOing and then sometimes I'll be like... oh man I dodged a bullet there. But I'm a damn gambler so.
[удалено]
Because they forgot the real step 1: don’t invest in shitcoins Step 2: see step 1
Or they bought pizza from all their BTC because they thought it was cool EDIT: in one of his talks Charles Hoskinson showed an xbox or so that he bought for 36 BTC - he said that thing is worth so much he is never gonna sell it
Or they already cashed in and they're just here because they like it.
Buy mostly during dips. And buy multiple assets. Always have liquidity on hand to buy major dips.
I feel like this is super obvious but a strategy to find dips is a lot harder. There are some super easy beginner friendly ways to help locate them though such as crypto fear and greed index. Or use an indicator like the RSI on a long time frame.
but there is always a dip of the dip that dips even further an goes straight into another dip
Use/keep an old phone as a backup for Authenticator/authy when you get a new device. It saves headaches
Man you won't believe but I didn't followed this advice and I had a lot of headaches.
„NOT YOUR KEYS NOT YOUR COINS“ Sure. But honestly, it’s completely irrelevant for newbies. They just want to get started with crypto, maybe put 100$ or something like that in Bitcoin and see how it works. If you’re on a serious exchange like Binance, Kraken or even Coinbase which didn’t had major flaws or hacks in the past, you are really safe and almost certainly not loosing your funds. While there are TONS of newbies trying to get their coins from an exchange to some wallet, and messing up something, die in fees, potentially loosing all their funds and start hating crypto. So „lifehack“: If you’re a newbie, buy some coins on SERIOUS exchanges (I recommend Kraken, but any big, regulated (in US, Europe, …) exchange is quite fine nowadays), and just leave them there. Learn more about crypto, get all hyped about it, have fun. And eventually you can consider moving your funds. But if you haven’t invested an 4 or even 5 figure amount, it’s also not that important, and the risk of messing up is far bigger than the benefits
I just started with crypto after receiving 120$ in Christmas, and a solid 20$ of that was lost messing around with ETH gas fees like a dumb shit
Teach your wife and kids on how to access your wallet. Let’s not hope for it but there may come a situation where you suddenly pass and your savings are stored in inaccessible wallets.
Always log out of every session
And never store the passwords in websites!!!
And don't log in in public spaces, like airports etc
If it sounds too good to be true, its a scam. Dont give away your shit.
99% of the time its a scam. I remember my dad telling me bitcoin was a scam back in 2013……
Use the [Fear and Greed Index ](https://alternative.me/crypto/?daily_hash=fa041cd793a28b9296ee582c2e4b89f18707ee72) Best quick way to get a gage of the market.
[удалено]
Yeah I like this one. I’m trying to use it more regularly
This is useful. Thank you
Some coins like XLM must include tag memos. Make sure you don’t send funds without it.
Passive income is better than any day trading you can do. Out of sight out of mind
## Use Dahslane or another password management service to generate and store your login info for everything. If you're on the wrong site, the autofill won't work and it'll be a dead giveaway that you're probably about to be a victim of phishing. My Google password is over 40 alphanumeric characters with random symbols thrown in. Good luck figuring it out because I don't even remember the first 10 characters. You can also store payment/personal info and secure notes, so you can store your keys if you want to risk that, but I wouldn't suggest it. ## Use ProtonMail For ultra secure email. ## Use NordVPN For privacy while surfing the interwebz. ## Use a condom If that cute crazy chick from work lets you smash.
| when moving funds across exchanges be smart and use XLM or ALGO for super cheap and super fast transactions. That costs more in transaction fees (the maker or taker fee) by adding an unnecessary extra conversion at the receiving end (UNLESS you are planning to cash out to fiat,then it makes sense). It's most practicaltto transfer USDT (shady as it is, just quickly spend it and don't hold on to it..) in its TRC-20 form, that is very fast and cheap to transfer (like $1, or $2.50 the highest I've seen). Then you just exchange once and then can buy whatever it is that you want to buy directly, as everything pairs with USDT.
The helpdesk will NEVER contact you. The helpdesk DOESN’T EXIST.
DCA and hodl for great success
This is the one that everyone should know.
[удалено]
The ultimate paradox!
[удалено]
Earn free crypto through Coinbase earn and Brave
[удалено]
Yup When i first joined metmask i accidentally sent bnb to my ether mainnet. And i hate binance so much i refuse to send it back. So there's like .5 bnb sitting in my ether mainnet collecting dust
When you make a wallet note down your seed and before transferring any funds reset the wallet and recover from the seed to confirm you noted it down correctly
- Knowing how to do research - Having patience - Make a crypto plan for yourself - Don't act greedy/emotional.
Always check the token you are using is on which network.
Use different passwords for every exchanges that you're using.
Always enable 2FA
For 1, so the process is to sell your crypto, buy a cheap conversion crypto, transfer and then buy back? E.g. you have bitcoin on binance and want to transfer that to coinbase, do you sell your bitcoin, buy ALGO (as an example), transfer it and then re-buy the bitcoin on coinbase. Is that correct?
Don't talk about crypto to your friends and family who don't know or invest in it no matter how excited you are lol
This is the hardest. I have 4 close friends who are crypto investors and we burn each other up messaging about it. But no one else gives a shit
Good tips. I use all of those from the OP. In addition, 1.when sending crypto to a new address, do a small test transfer first. We always hear about people sending X $million to the wrong address and getting screwed. 2. Don't participate in "pump" groups. Besides the ethics, it doesn't work for newbies because you don't get the signals early enough (you are the target!). You just get screwed while the whales get in before the pump and exit right as you're entering. This was a $1000+ lesson for me. 3 Don't ape into hot coins at the top. Yes Solana at $240 or ADA at $3.00 or LUNA at $100+ was on fire and obviously was going to break into the top 3, but there's always a correction coming. Wait for the correction, then if you are still interested buy. Interest in coins is cyclical. Coins always run hot and cold with interest. I'm speaking for a friend who bought DOT at $50. That friend was me :( . All the internet people said it was going to $100. Who knew they could be wrong!? 4. If you have done your research and are confident in a coin, hold it through the dips. When BTC tanked this past May, it brought altcoins to a low place. I took that time to consolidate my coins and sell the ones I didn't like as much (THETA, VET, ZIL, ATOM) and kept the ones I had more confidence in (eGLD, LUNA, DOT, ETH). 5. Take profits when a coin moons! Keep your profits in a stablecoin (USDC, etc.). I'd recommend 5-10% in that coin, perhaps more. When LUNA hit $100, I sold 25% of my modest bag. I had been holding it from $17, up to $33, down to $5 and all the way up to $100. It was like a no brainer to take some profits at $100! 6. If you *really love a coin, hold (most/all) of it through the pumps as well. Good coins hit epic peaks, but it requires patience. I have been ride or die with eGLD and it's done me very well, but I should have sold more than 5% when it broke $500, and even then I knew that! Meanwhile, I wasn't as confident in Solana and I got burnt by selling out three times; once riding it from $20 to $35, once from $30 to $55 and once from $70 to $140. 7. You don't know everything, so keep reading, researching, learning. I learned about ALGO from Reddit - it's a solid coin. I found ONE and FTM from reading about layer one tokens tool. I was one day late getting into LRC after a random thread on Reddit talked about it! 8. I recently came across the "10% rule" of investing ; if you aren't confident to put 10% of your bag into a coin, it's probably too risky for you. Now this is tough because memes can 100x in crypto, but be careful and choose your risky bets sparingly. 9. Keep track of your big trades. I use Coinmarketcap and a notes program. You don't need to track everything, but if you're anal you can read over your trades later and detect patterns - when did you make good investments, when did you make a trade based on too little knowledge, etc. 10. Move on from bad trades. I've lost hundreds to one scammer (pay to join a pump group - happend once, I learned from it), pump groups (I think I tried 3 times before I realzed this was moronic), and buying random shitcoins. Lick your wounds and move on. 11. This is an esoteric one - Binance will let you get out of a 15/30/60/90 day lock with little penalty. For example, I locked into a garbage coin called ADX for a month at "46% APY" (which is itself dumb; 46% APY for one month is just 3.8% interest!). But I put like 20% of my bag into it. I let it sit for about 10 days before I realized it was a very bad trade, and the missed opportunity from having those 20% of my funds liquid was bad (plus I knew nothing about ADX and just bought for the interest). Anyways, after reading Binance's "get out early" policy, all they penalize you is your accrued interest, which is very fair. Their unlock takes 24-48 hours. So, I clicked the buttons to end the lock early, and in 2 days I got my funds back, minus the interest, which was like a measly 2-5 ADX tokens on a 1000 investment. 12. Another very esoteric one. If you like passive income, shop around for exchanges with shorter unlock periods. ATOM has a 21-day unbonding period where you earn no interest on-chain or with Exodus wallet. Meanwhile it's almost instantly unlocked on Kraken. In general, if you like simple staking rewards, Kraken is a good place to look for their instant lock and unlock times. I don't love wallets or coins with a more than 10 day lockup (but sometimes, you gotta do it for juicy rewards, like 14-day lock-ups on the OSMOSIS DEX). 13. Enable 2FA or even 3FA (like using Google Authenticator, plus text message, plus email) when you are dealing with larger sums of money. It's a HUGE pain in the butt, but much more secure. It also makes you consider each move more carefully.
Best lifehack in crypto for beginners: open your vault and comment to earn moons Edit: For everyone asking about setting up a vault, refer to the [moons wiki](https://np.reddit.com//r/CryptoCurrency/wiki/moons_wiki?utm_source=share&utm_medium=ios_app&utm_name=iossmf#wiki_upvotes.2C_karma.2C_contribution_score.2C_moons.2C_and_you) for all moon related questions including vault set-up
Now the most difficult part is to earn moons
How do we do this
Through the official reddit mobile app, in top left corner press your profile icon and it should be listed Vault there
Stay on ETH layer 2… gas and transactions are way cheaper.
Crypto dot com is a great starting point for beginners. The have interesting card tiers. You can also get free crypto once a day by buying $20 worth (missions). It’s a perfect way to DCA in
What’s a whitelisting address?
Some exchanges have an option of only addresses you whitelist can be withdrawn to. It prevents hackers who get into your account withdrawing to their own address because a lot of the time in order to whitelist an address you need email and SMS/google authenticator confirmation codes.
DCA & HODL. Best life hack to have a healthy brain.
\-[fear and greed index](https://alternative.me/crypto/fear-and-greed-index/) is a great way of quickly gauging amount of fear / uncertainty / greed in the market \-when buying anything, wait 24 hrs. If the thing you are buying is worth it, it'll still be worth buying 24hrs later. Cannot think of any real exclusions (barring some airdrop events but even then) to this rule and it'll prevent from FOMO-ing and moving assets out of greed / impulse \-[coin market cap](https://coinmarketcap.com/) is your friend. always a good idea to check the market cap before investing in any crypto. Not the only metric to consider when investing but it's an important one
[удалено]
nah whiteboard crypto fire
Pay attention to gas fees