10 Crucial Recommendations for Saving in Cryptocurrencies
Educate Yourself Before Investing! (The Most Important)
Why? Don't invest in something you don't understand. Learn what blockchain is, how wallets work, what a private key is, and the different projects. Knowledge is your best shield against scams and bad decisions.
Use Cold Wallets (Hardware Wallets) for Large Amounts
Why? They are physical devices (like a USB) that store your private keys offline (in "cold"). This makes them virtually immune to online hacks. Examples: Ledger, Trezor. Do not leave large sums on exchanges.
Diversify Your Portfolio
Why? Don't put all your eggs in one basket. Consider Bitcoin (BTC) and Ethereum (ETH) as the most stable base, and then, if you have a higher risk tolerance, research other promising altcoins.
Do DCA (Dollar-Cost Averaging)
Why? Instead of trying to "guess" the perfect price to buy, invest a fixed amount of money at regular intervals (e.g.: $50 every week). This smooths out the average purchase price and reduces the risk of entering at a price peak.
Do Your Own Research (DYOR)
Why? Don't base your decisions on advice from influencers or "gurus" on social media. Research the project, its team, its whitepaper (technical document), and its real utility.
Prepare an Investment Plan and Stick to It
Why? Define your goals (savings in 5, 10 years?), your budget (only invest what you are willing to lose!), and your entry and exit strategies. This avoids emotional decisions driven by fear (FUD) or greed (FOMO).
Protect Your Recovery Keys (Seed Phrase)
Why? The 12 or 24 recovery words are THE KEY to your funds. Whoever has them has absolute control.
How: NEVER store them digitally (photo, email, cloud). Write them down on a durable material (like metal) and keep them in several secure and secret physical locations. Never give them to anyone.
