Bobos & Wojaks

Get rich or die tryin

11 Crypto Tips For Newbies

  •  DYOR – Avoid Shitcoins –

No Person from YouTube shilling you some coin that just launched promising you 10x is your friend. Listen to the red flags 🚩 🚩 https://coinmarketcap.com/ has a list of all coins by market cap that you can research till your heart’s content. Top 100 is a good place to start.

  •  Bitcoin & Ethereum move the market.

Diversification is a myth, Some coins might pump temporarily. But everything follows Dad.

  •  Millionaire’s are made in BEAR markets.

Bear market is a long period of downward consolidation. This is the best time to load up your bags. Don’t be the guy who didn’t average down and miss out on all those sweet green candles. ( ✋🏼I’ve been that guy)

  • Extreme Fear = DCA in, Extreme Greed = DCA out.

DCA (Dollar cost average) never spends all your money at once. Best to buy & sell over time, and Have an exit strategy. I know everyone here has the hodl forever mentality but this was something I wish I learned earlier. This index is a good tool to use to gauge market sentiment. https://alternative.me/crypto/?daily_hash=43784755cc76e503c98d82996285ba0b3a91e835

  •  Passive income is a game changer in the world of crypto.

Most exchanges / coins offer Interest or Staking. Take advantage of this and put your coins to work for you.

  •  Consider your money a total loss from day 1.

This will help you get through volatility, as 20% swings in either direction are normal and happen often. Don’t be the guy that sells too soon or for a loss.

  •  Time in the market, better than timing the market.

No one knows shit about fuck in the Wild West of crypto, When In doubt zoom out.

  •  It’s never too late to get into crypto.

There are millions of people before you who thought Bitcoin was too high at 100$, 1000$, even 10,000$.

  •  Friends don’t let friends use Robinhood.

Get ur friends on real crypto exchanges. Voyager, Coinbase-(pro), Kraken. Anything but giving The little boy from Bulgaria 🇧🇬 your money.

  • Never open messages or sketchy links from people you don’t know.

Especially from this sub, most likely is a scammer/hacker trying to get your coins.

  • When Transfering funds to a different address.

Always send a test transaction of a smaller amount to avoid losing all your coins if something goes wrong.