BTC
ETH
XRP
BCH
LTC
Change theme

10 tips for starting out in crypto

10 tips for starting out in crypto

For beginners

Cryptocurrency is a bewildering sector. If you’re just getting started, it can be overwhelming. Here are a few tips from people who have been here a while and bear the scars.

 

  1. Don’t keep funds on exchanges. Seriously. Just don’t.
  2. Don’t keep funds on exchanges (just in case you missed it the first time). It’s one of the best ways to lose money.
  3. Back up your private keys. Keep them somewhere safe, offline. Learn about cold storage for large accounts. Never break those rules, even once.
  4. Don’t enter your private keys online – anywhere. Especially not in a hurry, and especially not in a hurry because you need the funds to take advantage of a deal that’s too good to be true. Also especially not anywhere at all. JUST DON’T DO IT.
  5. Get on Discord. It’s where the action happens. And Telegram, if you can face it.
  6. Ignore trolls. You’re going to meet them. A lot of them. None are worth your time.
  7. Get used to shills. They will try to get you into their special coin. It will probably be XRP most of the time.
  8. Cultivate cynicism – if it’s too good to be true, it might be. This is crypto, so sometimes it won’t be. But be cynical all the same.
  9. Learn about computer security. And cryptography. And economics. And markets, technical and fundamental analysis, and group psychology.
  10. Ignore anyone selling a great new ICO token that’s a ‘Bitcoin killer’, ‘Ethereum killer’, ‘the next Facebook/Uber/anything’ or that claims it will ‘bank the unbanked’.

 

Can you explain why OneCoin is not a cryptocurrency? Well done, you have graduated!

Red hot news, scorching wit and searing opinion pieces from Crypto Inferno.

Join us on
Telegram: https://t.me/crypto_inferno
Twitter: https://twitter.com/CryptoInferno_
Facebook: https://www.facebook.com/CryptoInferno/
Medium: https://medium.com/cryptoinferno
Steemit: https://steemit.com/@crypto.inferno

Leave a Comment

avatar
  Subscribe  
Notify of

Hottest Bitcoin News Daily

Social

Twitter

.@ledgerx Places Founders On Leave Following Public CFTC Woes
https://t.co/62A7QZYnAz
#ledgerx #bitcoin #altcoins #blockchain #crypto #cryptocurrency

Load More...