Crypto has been an influential part on modern day society in terms of advancing blockchain technology as well as bridging the gap of transferring monetary funds (with low cost and speed). Although crypto can be very complicated to navigate. Here’s my big tips when getting started in the world of crypto:

1. Never invest more than you can afford to lose. Crypto will take your money in an instant so it’s important you play with money you can afford to lose so you have less pressure on yourself and can think more clearly when navigating the environment.

2. Always do your research on everything you invest. This is one of the most important things. It can be easy to buy a coin because you saw it on the news or a commercial. NEVER invest this way. Do your research, check its past history, market cap, number of holders on etherscan, % of holdings by the devs, making sure the contract is safe, how long the coin has been promoted, any upcoming catalysts/new events, and more. Take your time before buying anything.

3. Control your emotions. Crypto can be very emotional with the large swings day to day. Never let that get you into “revenge” trading and trying to make back your losses in one go.

4. Be patient. There are tons of opportunities in crypto. Don’t worry if you miss one, there will be plenty more in the future.

5. Set your risk tolerance. Make sure you always set an entry, take profit, and stop loss price when entering a trade and never put more than 5% of your portfolio into one trade.

6. Crypto is a long game. Don’t try to make 100x in one trade. Is it possible? Yes. Is it likely? Definitely not. Crypto is a long game and the more you realize that, the more you can preserve your capital, take small wins which over time will add up to a big profit. Then you can incrementally increase your trade size.

7. Network. Crypto is a game of networking. The more people you know, the more access you’ll get to information, and the more resources you’ll have at your disposal when making trading decisions.

8. Never let one person influence your decision. If a certain influencer is telling you to buy a coin, never just blindly trust them. Take your time to do the research, get multiple opinions, THEN make an informed decision.

9. Stay away from leveraged trading unless your experienced. Leverage trading can be a blessing and a curse. You can make a lot of money but you can also lose a lot of money. If you’re going to leverage trade, I HIGHLY recommend using 5x leverage or less and ALWAYS set a stop loss. Also, if you’re going to use a strategy, make sure you’ve backtested it at least 50-100 times to know if it’s an effective strategy or just a one-off.

10. Stay away from NFTs/meme coins at the start. NFTs and meme coins are extremely risky and can go to zero in an instant. These can seem intriguing when starting out because they provide “100x” gains but 9/10 times, you WILL lose money trading these. Stick to the larger cap coins (Top 100), or at a minimum the Top 500 coins and make sure you diversify into 3-5 coins so your maximizing your opportunities for returns.

I’ve been in crypto for 5 years and these are the main tips I wish I would’ve known when I joined. Hope you enjoyed this article and let me know if you have any questions!

Crypto has been an influential part on modern day society in terms of advancing blockchain technology as well as bridging the gap of transferring monetary funds (with low cost and speed). Although crypto can be very complicated to navigate. Here’s my big tips when getting started in the world of crypto:

1. Never invest more than you can afford to lose. Crypto will take your money in an instant so it’s important you play with money you can afford to lose so you have less pressure on yourself and can think more clearly when navigating the environment.

2. Always do your research on everything you invest. This is one of the most important things. It can be easy to buy a coin because you saw it on the news or a commercial. NEVER invest this way. Do your research, check its past history, market cap, number of holders on etherscan, % of holdings by the devs, making sure the contract is safe, how long the coin has been promoted, any upcoming catalysts/new events, and more. Take your time before buying anything.

3. Control your emotions. Crypto can be very emotional with the large swings day to day. Never let that get you into “revenge” trading and trying to make back your losses in one go.

4. Be patient. There are tons of opportunities in crypto. Don’t worry if you miss one, there will be plenty more in the future.

5. Set your risk tolerance. Make sure you always set an entry, take profit, and stop loss price when entering a trade and never put more than 5% of your portfolio into one trade.

6. Crypto is a long game. Don’t try to make 100x in one trade. Is it possible? Yes. Is it likely? Definitely not. Crypto is a long game and the more you realize that, the more you can preserve your capital, take small wins which over time will add up to a big profit. Then you can incrementally increase your trade size.

7. Network. Crypto is a game of networking. The more people you know, the more access you’ll get to information, and the more resources you’ll have at your disposal when making trading decisions.

8. Never let one person influence your decision. If a certain influencer is telling you to buy a coin, never just blindly trust them. Take your time to do the research, get multiple opinions, THEN make an informed decision.

9. Stay away from leveraged trading unless your experienced. Leverage trading can be a blessing and a curse. You can make a lot of money but you can also lose a lot of money. If you’re going to leverage trade, I HIGHLY recommend using 5x leverage or less and ALWAYS set a stop loss. Also, if you’re going to use a strategy, make sure you’ve backtested it at least 50-100 times to know if it’s an effective strategy or just a one-off.

10. Stay away from NFTs/meme coins at the start. NFTs and meme coins are extremely risky and can go to zero in an instant. These can seem intriguing when starting out because they provide “100x” gains but 9/10 times, you WILL lose money trading these. Stick to the larger cap coins (Top 100), or at a minimum the Top 500 coins and make sure you diversify into 3-5 coins so your maximizing your opportunities for returns.

I’ve been in crypto for 5 years and these are the main tips I wish I would’ve known when I joined. Hope you enjoyed this article and let me know if you have any questions!