I am not going to spoil anyone on this article by explaining certain things, because I want you to at least reach out to me or ask me a question here if you do not understand anything or better still do your own research to understand certain things here. I have noticed it doesn’t help to keep explaining every little thing, it is better to give people the opportunity to be curious, they learn better that way.
So, you are probably new in the crypto world, or have been here for a while, want to make some money? don't want to get rekt right? well, I have good news for you, the following points will help in illustrating certain problems in the crypto world and what I think about it, the bad news is I am not giving trading or investment advice. Yeah! I know that sucks, deal with it. Sit back, relax and enjoy the ride.
1 No one knows for certain when, how and what price any cryptocurrency will be at any particular time, so don't be deceived by projections or people telling you they are 100% sure about anything. In fact, be wise and stop believing in miracles and fairy tales! Be logical, do your own research, find a coin or token you understand and believe in, then put your money where your heart is.
2 If you have high Blood Pressure and you are scared of losing your money, you have no business in this cryptocurrency world, just put your money in treasury bills, eat well, sleep and use your drugs.
3 Like with point 2 above, do not use money you can't afford to lose to buy cryptocurrencies.
4 There is nothing more annoying than I too Knows who know nothing, noobs who talk as if they know it all, even some crypto legends out there always respect themselves. So, you would expect new noobs to know their place, right? Nope! They don't. Acting all tough and gangster is a very fast way to lose all you have in the cryptocurrency world.
5 There is nobody more stupid than someone who does not understand simple mathematics, demand and supply, circulating supply and total market cap but still advising people to buy something like Ripple because it's still cheap. That sheer ignorance will get you rekt soon son.
6 Just like point 5 above, not understanding why a 2-dollar coin like ripple is number 2 and an 800-dollar coin like Ethereum is number 3, and a 3,000-dollar coin like Bitcoin cash is number 4 on the coin market cap. Like I said son, you will get rekt soon.
7 Preparing a nice meal on social media called "Fastest way to be Socially Engineered" telling us how much cryptocurrencies you have like spice and your wallet address chopped like meat, maybe little spoons of email addresses, fried over exchanges you deal with, to make this meal sweeter add the secret ingredient, "using the same password for all platforms you use", diced with not using a 2FA, cook this slow and steady, fast and swift, bon Appetit! To the hackers, scammers, and Social engineers.
8 Just so you know, even if many people have made a lot of money from cryptocurrencies, they are not an investment, or should I say a proper traditional investment as we know it? Right now, they are still very speculative in nature, so making some money from trading cryptocurrencies and investing in them does not make you a “wolf of wall Street".
9 If you don't understand inflation and deflation, or basic financial terms go and learn them now.
10 Not understanding what you are putting your money in is a very fast way to get rekt, always do your own research.
11 If you have more than 400 dollars in cryptocurrencies, get a hardware wallet! In fact, even if you have just started, and have 100 dollars if it's something you intend to do for long, buy the hardware wallet first (yes this means spending the 100 dollars or more).
12 If you meet me to advise you on what cryptocurrency to buy, of course I will help, but you should know you can still lose your money, I am not a seer of the future.
13 Helping you to buy a cryptocurrency is one thing, holding it for you is another thing, one of the basic cryptocurrency rule is this, if you don't control the private keys, it's not yours, stop leaving your cryptocurrencies on exchanges!
14 There is nothing more annoying that noobs who get free airdrops and still feel entitled, you see questions like “when moon? When exchange?” asked repeatedly, till it’s no different than spam, and they have not contributed a dime or even a shred of their knowledge to the project. Stop it, it’s rude!
15 To support point 15 above, whenever you find yourself in any cryptocurrency community group, always read, read and read! Especially the pinned messages! Stop asking the same questions over and over again, do your own research, we are all grown-ups, I see questions like “dev, how can I enter airdrop? (it’s already pinned!) Dev where can I find my airdropped token? (seriously? What will you call dev to help you find next? Your boxer shorts?) Dev how do I withdraw from the exchange? (like you have not been withdrawing other coins and tokens before) Dev I have been hacked, how do I get my tokens back? (but why the dev? He’s not a magician!)”
16 Stop saving private keys, seed key, mnemonic phrases and passwords on email services like Gmail, yahoo etc or cloud storages like drop box, Google drive etc...
17 To some, a good coin is one that keeps making them money and not one that makes them lose money, riding on FOMO waves and evaluating coins and tokens based on current market speculation is a very good way to get rekt, even useless coins and tokens have high market caps, be very careful on the type of coins and tokens you put your money in.