Bitcoin blogger Sylvain Saurel has published a nice article on the basic qualities of being a "Real Bitcoiner". Saurel also includes some tips on what to look out for to be a successful hodl in the content of this article.
Understanding Technology
It is no secret that the decentralized architecture of blockchain technology is revolutionary, but also complex technology. Therefore, various risks can arise for those who do not understand the technology. Simple tasks that look like wallet setup and trading can have bad results if not done right.
Beginners should start trading by researching the history, functionality and shortcomings of Blockchain technology. In addition, research should be done on main exchanges, wallets and procedures for safe storage. Besides, it should be learned what the terms like proof-of-work and block time mean.
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Considering that almost all crypto money losses are due to lack of information, we can easily state that these researches are really important.
Suspicion and Being Awake
Given that distributed notebook technology is a truly revolutionary initiative, it is quite natural for some to approach suspicion. Since it is a very new technology yet, frauds that offer “promise of making easy money” can also be encountered via Blockchain. As we always say, the “promise of fast and very high returns” often results in frustration and needs attention.
However, this attitude should also be combined with a conservative and reasonable investment approach. When looking at successful crypto investors, we see that almost all of them are avoiding extremely risky platforms or services.
To follow the agenda
Blockchain ecosystem is developing rapidly in technical, legal and social life. Therefore, we encounter innovations almost every day. For this reason, it is an important factor that those who want to invest or those who already have investments constantly follow the agenda.
It is also another condition for keeping up-to-date news and keeping funds secure. However, it is particularly important to follow legal and regulatory developments, as governments now take a closer look at Blockchain assets.
