28/02/2024
---------------🚀 The DeFi Raider's Crypto Tips for Beginners 🚀---------------
Over a decade in the crypto space has taught me a lot, and here's a distilled version of that wisdom for those just starting out:
1. Grab Scarce Assets: Look for cryptocurrencies with scarcity - Bitcoin, Litecoin, Dogecoin (despite its slow inflation, it's a long play), and traditional assets like gold and silver. Ensure you have self-custody. Why? Because scarcity drives value over time.
2. Offline Transactions: Concerned about crypto without the Internet? Transactions can still happen through local mesh networks, LoRaWAN, or even ham radio signals. The tech is there to keep crypto moving, internet or not.
3. Security First: Always remember, "Not your keys, not your coins." Control over your private keys is crucial.
4. Investment Wisdom: I hold both Proof of Work (PoW) and Proof of Stake (PoS) cryptocurrencies. I see PoW as more of 'money' due to its inherent value, and PoS as an investment vehicle since it can earn yield.
5. Do Your Due Diligence: Seek out coins with fair launches and have undergone external audits by reputable organizations. It's all about trust and transparency.
6. Manage Risks Wisely: Never invest more than what you can afford to lose, especially funds you might need for emergencies.
7. Take Profits: Everything corrects at some point, even Bitcoin. Don't be afraid to lock in profits on the way up.
8. Embrace DeFi: Decentralized Finance (DeFi) is revolutionizing how we think about money. Dive in, learn, and potentially benefit from its innovations.
9. Never Stop Learning: The crypto world is fast-evolving. Stay curious, stay informed, and always be learning.
10. Join the Community: The crypto space is vibrant and full of knowledgeable individuals. Engage in forums, attend meetups, and connect on social media. The insights, friendships, and networks you build can be invaluable.
Remember, this is my take based on my experiences - not infallible, but shared with the hope of guiding you wisely. Dive in, but do so with caution and knowledge. 😁