The basic rule "don't invest more than you can afford to lose" applies doubly up in the crypto space. While the lack of regulation may be a positive thing, regulations in the traditional investments markets are there to protect the investors - investors in the crypto space need to be aware that there are no security nets - they need to take the responsibility of protecting themselves. Here are some other rules of thumb:

• Don't invest in smaller altcoins or tokens without doing proper due diligence - I see far too many newcomers to the crypto space going wild on platforms like binance and buys up lots of different tokens and currencies. Yes, some few of them may bubble up to the top-five on conimarketcap, there is a probability that the value may grow a thousand-fold during some few weeks. However, a significant portion of all the crypto currencies out there are simply scams, made for no other purpose than the founder(s) to get rich - and most of the other cryptos will never get to shine, always live in the shadow of other projects, they peak in value short time after they go live but then the value will just keep on dropping.

• Hodling is better than active trading - even though some few actually do earn money by active trading, most people are losing on it. It's a 100% probability that the exchanges earns money on your trading. Further, there are actors out there that wins big-time on trading either because they happen to know information the rest of the market does not know or because they are deliberately manipulating the markets. If you do a lot of trading, chances are that you'l lose money to those players.

• There are lots and lots of scams out there, be very careful of sites promising a yield if you invest your bitcoins there - particularly if the yield is huge. Many sites operate as ponzi-schemes, it works out great as long as the flow of investments into the site is higher than the withdrawals, but sooner or later the owner of the site will just pull the plug and disappear together with a big bag of bitcoins.

• Secure your cryptos: the old saying in crypto is that you don't really own your coins if you hold them on an exchange - the exchange can go bankrupt at any time - but at the other hand, it takes some effort and security knowledge to make sure your private keys are safe.

• Remember your cryptos: spread the values over lots of different coins and wallets, and there is a significant risk that you'll simply forget about some of your assets - forever.

• Be careful: lots of values are lost due to money sent to the wrong adresses and things like that.

• Have you made sure that your crypto belongings will be passed on to your next in kin when you die?