- investing + Safety tips -
avoiding "rookie" mistakes + scams / storage wallets
always do what works best for you
This isn't financial advice
Just some tips we've picked up along the way
don't get caught up in day-to-day price moves
it nearly impossible to time the markets
Crypto is a volatile asset. Prices regularly swing up and down by double digit percentages. It can be painful to watch your portfolio take such a big hit, but you haven't locked in any losses unless you panic sell at a loss.
don't fall victim to fomo and panic selling
investing is a test of will power
Unfortunately, it's common for beginners to buy crypto when the markets are at all-time highs and then panic sell when the markets correct, losing a bunch of money in the process.
This is because it's common for projects experiencing huge price increases to get the most media attention, creating big FOMO.
buy the dips and/or set up recurring buys
can mitigate volatility
It can feel counter-intuitive to invest in something when it's price is trending down, but it's the best chance you've got to maximize profits.
Also, setting up recurring crypto purchases in small amounts will naturally offset market swings - you'll buy some when prices are high, and some when it's low, balancing your average acquisition price.
Never sell, only accumulate
is a goal to consider for the long-term
Selling crypto that has gained in value creates a taxable event, and you'll need to pay capital gains tax each time you do this.
Plus, you're giving up your asset, which, if you believe in the potential of what you're buying, doesn't make much sense.
never invest more
than you can afford to lose
Like any investment, crypto has risks and no market is immune to crashes. Just look what happened to global stock markets (and crypto) when the pandemic first hit.
While investing in crypto has huge upside potential, the most responsible thing to do in our opinion is to only invest amounts that you won't miss if they poof and disappear.
find projects that interest you
that you believe in and that have utility
It's easier to hold on to investments long-term, when we believe them. Day-to-day price points don't necessarily reflect the fundamentals of a project: is it being used, does it solve a problem, etc.
Whether you see potential in decentralized finance, NFTs, metaverses or anything in between, find the projects that interest you and put them at the top of your list of investments to consider.
as your portfolio grows
consider buying a hardware wallet
Crypto is stored on the blockchain in a digital wallet. Moving crypto from your wallet to another requires a private key (basically a password).
Hardware wallets store your private keys on an offline USB device to keep them safe, even if your computer gets hacked.
Private keys and passwords should never be saved on your computer or online. Write them down with a pen and paper and put them somewhere safe.
Never, ever share your private keys
with anyone, ever...ever, ever
Since crypto is largely unregulated, there are plenty of opportunities for scammers to take advantage of new people in the space.
Scams come in all forms - phishing emails, fake web pages, and imposter social media accounts - are all common tactics used to trick people into giving up their private keys to thieves. Don't fall for it.
this is just the tip of the iceberg
we've learned a lot and can help you
We're here to help you sift through the bullshit and noise out there by delivering honest, valuable information.
Hit us up to learn more - we can help make your crypto experience fun and, ideally, profitable.