Bobos & Wojaks

Get rich or die tryin

10 Things Every Crypto Newbie Should Know

  1. Never answer or open a link from a random dm on any platform asking you for your info for a “gift” or giveaway.
  2. Your 12 word seed phrase is like your crypto social security number… DO NOT JUST SHARE THAT INFO ONLINE.
  3. Many coins will be out there with very similar names and price points to try and scam you. Each crypto should have a website and a white paper minimum before you put money into it. If you do not know what a white paper is… its basically their profile bio and goal of the token.
  4. Research back 4 months and see how on the fence people were about shib and see how speculative people were of it. This is a very volatile space and trying to day trade with a stock trader mentality will get you wrecked.
  5. Even though shib broke it lol Coin market cap is a great tool to use and should not be undervalued.
  6. YouTube video diving is the best investment you could ever make in the crypto space… and it’s free so take that advantage.
  7. Longtime investors believe a 15% gain on the day is the golden standard… so do not feel like you are taking a L if you are down on the day. Use the 7 day chart.
  8. Reddit is a good tool ,but if you are feeling emotionally about your investment you should stay away from it during that time. You will make decisions you will regret most of the time just off of a post.
  9. Holding is great… but we are all here to get some money.. don’t feel pressured! take you some percentage off your initial investment, rather than your current balance. Your gains will be higher if you’re in a good investment at that time.
  10. Finally get active in the coin’s community via twitter or discord. You will almost have a heads up when price action is about to happen.