The Cryptocurrency World has a lot of ups and downs and it is quite easy for the newcomers to sway away towards the wrong path which leads to sometimes total loss of funds. So I have come up with a few rules for the crypto newbies.
Here's the best advice for crypto newbies.
1> Never stop learning.
The return on your learning is bigger than any other coin that could possibly pump and there is also the saying that learning has no age and there is always something new to learn.
2> Diversity is always Good.
Diversity is always good but not only across different coins, but also across different platforms as you should never keep all your eggs in one single basket. Eighty percent should be held in fundamentally strong projects.
3> Stay away from Pumps
There is a term called Pump and Dump so wherever there is a Pump rest assured a Dump is definitely going to follow. So wait for dips to buy rather than potential Pumps which could lead to disastrous Dumps.
4> Dollar Cost Averaging
We have always heard about Dollar Cost Averaging when the market falls but I feel like you should always Dollar Cost Average even when the market goes up and even when the market is stagnant. By doing so you get rid of only buying in dips and accumulate all the time.