Here are some key tips and things to keep in mind when investing or trading in crypto:
Crypto Tips & Best Practices
1. Do Your Own Research (DYOR):
Always research a project’s whitepaper, team, tokenomics, and roadmap before investing.
2. Use a Secure Wallet:
Store your crypto in a trusted hardware or software wallet. Avoid keeping large amounts on exchanges.
3. Beware of Scams & Phishing:
Never share your seed phrase. Double-check URLs, especially those of wallets or exchanges.
4. Set Realistic Goals:
Don’t chase quick profits. Plan your entries, exits, and risk tolerance.
5. Diversify Your Portfolio:
Don’t put all your funds into one coin. Spread your investment across different sectors (DeFi, AI, gaming, L1s, etc.).
6. Use Stop-Loss & Take-Profit:
Protect your capital. Set limits to avoid emotional trading.
7. Follow Market News & Updates:
Stay updated with crypto news via Twitter, Telegram, CoinMarketCap, and reliable news sites.
8. Avoid FOMO & FUD:
Fear of missing out or fear, uncertainty, and doubt can lead to poor decisions. Stay calm and rational.
9. Understand Taxes & Regulations:
Know the crypto regulations in your country to stay compliant.
10. Think Long-Term:
Crypto is volatile. Some of the best gains come from holding strong projects through market cycles.