Some friendly not financial advice

I started in crypto in June of 2021, and I’ve learned a lot in my short journey. I thought I’d make this post to help newcomers.

1. Don’t chase prices when they are sky rocketing and are near all time highs.
2. It’s better to buy when crypto is going down and dipping. Look at how far it is from the all time high.
3. If the crypto has a high market cap and has good real world utility, there’s a good chance it will do well in a bull run.
4. Don’t listen to price predictions of ANY influencers.
5. Take 15 minutes to learn how to stake your crypto, trust me it’s worth it.
6. Learn how to do your own research (I have a post on my profile about that)
7. Be very weary of influencer promoted projects. They’re not all bad, but be careful.
8. Don’t panic sell during crashes.
9. Bear markets are your friend for accumulation periods.
10. Have an accumulation plan and an exit strategy.
11. Trust no one.

Did I miss something? What else have you guys learned that could help newcomers?

My biggest mistake was panic selling during a flash crash. Never again.

View Source

37 thoughts on “Some friendly not financial advice”

  1. The amount of people that blow off staking because “only the rich get richer” are completely underestimating compound interest.

    Reply
  2. The influencers one is so true. When it’s going up they promote it all like it’s a guarantee. Posts, live streams, YouTube videos, that’s what it’s all about when prices are going up. Then when the correction comes they say buy the dip. Then when the dip dips more they disappear like rats.

    Reply
  3. Understanding crypto advice phrases and when to use them:

    “I am not a financial advisor” = I don’t know any more than you do.

    “Don’t invest what you can afford to lose” – Most commonly used phrase during a crash.

    “You should have taken profits” – when market is in downtrend

    “You should have bought the dip” – when market is in uptrend

    Reply
  4. Focus on the question… why is a blockchain a better solution than the existing ones?

    For starters… any decentralized technology will be slower than centralized tech can be, more expensive than centralized tech can be. If there isn’t a “trusted 3rd party” to be cut out of the equation than blockchain is inherently a worse solution…. and in some cases, if there’s enough competition among the trusted 3rd party then blockchain still isn’t better.

    Reply
  5. I just followed last advice from the whole points man lol JK

    I know people should take these points seriously to grow

    these are some important points which tell you a lot man.

    Reply
  6. Tl;dr buy low, sell high. Counter to what the sub may say 😄

    Be greedy when people are fearful.

    Be fearful when they are greedy.

    Buy Btc when others…. OK, no saying here, just buy btc. Its good shit.

    Reply
  7. Don’t make crypto your entire life.
    Invest and touch grass.
    Set your buy and sell orders, look away and have fun.

    Reply
  8. >7. Be very weary of influencer promoted projects. They’re not all bad, but be careful.

    I was wary about this one but I tend to agree, they sure can be hella tiring!

    Reply

Leave a Comment