I am not going to spoil anyone on this article by explaining certain things, because I want you to at least reach out to me or ask me a question here if you do not understand anything or better still do your own research to understand certain things here. I have noticed it doesn’t help to keep explaining every little thing, it is better to give people the opportunity to be curious, they learn better that way.
So, you are probably new in the crypto world, or have been here for a while, want to make some money? don't want to get rekt right? well, I have good news for you, the following points will help in illustrating certain problems in the crypto world and what I think about it, the bad news is I am not giving trading or investment advice. Yeah! I know that sucks, deal with it. Sit back, relax and enjoy the ride.
1 No one knows for certain when, how and what price any cryptocurrency will be at any particular time, so don't be deceived by projections or people telling you they are 100% sure about anything. In fact, be wise and stop believing in miracles and fairy tales! Be logical, do your own research, find a coin or token you understand and believe in, then put your money where your heart is.
2 If you have high Blood Pressure and you are scared of losing your money, you have no business in this cryptocurrency world, just put your money in treasury bills, eat well, sleep and use your drugs.
3 Like with point 2 above, do not use money you can't afford to lose to buy cryptocurrencies.
4 There is nothing more annoying than I too Knows who know nothing, noobs who talk as if they know it all, even some crypto legends out there always respect themselves. So, you would expect new noobs to know their place, right? Nope! They don't. Acting all tough and gangster is a very fast way to lose all you have in the cryptocurrency world.
5 There is nobody more stupid than someone who does not understand simple mathematics, demand and supply, circulating supply and total market cap but still advising people to buy something like Ripple because it's still cheap. That sheer ignorance will get you rekt soon son.
6 Just like point 5 above, not understanding why a 2-dollar coin like ripple is number 2 and an 800-dollar coin like Ethereum is number 3, and a 3,000-dollar coin like Bitcoin cash is number 4 on the coin market cap. Like I said son, you will get rekt soon.
7 Preparing a nice meal on social media called "Fastest way to be Socially Engineered" telling us how much cryptocurrencies you have like spice and your wallet address chopped like meat, maybe little spoons of email addresses, fried over exchanges you deal with, to make this meal sweeter add the secret ingredient, "using the same password for all platforms you use", diced with not using a 2FA, cook this slow and steady, fast and swift, bon Appetit! To the hackers, scammers, and Social engineers.
8 Just so you know, even if many people have made a lot of money from cryptocurrencies, they are not an investment, or should I say a proper traditional investment as we know it? Right now, they are still very speculative in nature, so making some money from trading cryptocurrencies and investing in them does not make you a “wolf of wall Street".
9 If you don't understand inflation and deflation, or basic financial terms go and learn them now.
10 Not understanding what you are putting your money in is a very fast way to get rekt, always do your own research.
11 If you have more than 400 dollars in cryptocurrencies, get a hardware wallet! In fact, even if you have just started, and have 100 dollars if it's something you intend to do for long, buy the hardware wallet first (yes this means spending the 100 dollars or more).
12 If you meet me to advise you on what cryptocurrency to buy, of course I will help, but you should know you can still lose your money, I am not a seer of the future.
13 Helping you to buy a cryptocurrency is one thing, holding it for you is another thing, one of the basic cryptocurrency rule is this, if you don't control the private keys, it's not yours, stop leaving your cryptocurrencies on exchanges!
14 There is nothing more annoying that noobs who get free airdrops and still feel entitled, you see questions like “when moon? When exchange?” asked repeatedly, till it’s no different than spam, and they have not contributed a dime or even a shred of their knowledge to the project. Stop it, it’s rude!
15 To support point 15 above, whenever you find yourself in any cryptocurrency community group, always read, read and read! Especially the pinned messages! Stop asking the same questions over and over again, do your own research, we are all grown-ups, I see questions like “dev, how can I enter airdrop? (it’s already pinned!) Dev where can I find my airdropped token? (seriously? What will you call dev to help you find next? Your boxer shorts?) Dev how do I withdraw from the exchange? (like you have not been withdrawing other coins and tokens before) Dev I have been hacked, how do I get my tokens back? (but why the dev? He’s not a magician!)”
16 Stop saving private keys, seed key, mnemonic phrases and passwords on email services like Gmail, yahoo etc or cloud storages like drop box, Google drive etc...
17 To some, a good coin is one that keeps making them money and not one that makes them lose money, riding on FOMO waves and evaluating coins and tokens based on current market speculation is a very good way to get rekt, even useless coins and tokens have high market caps, be very careful on the type of coins and tokens you put your money in.
So, this is my current list, there are so many others, but this should do. Is there anything you feel I forgot or left out? Please do comment down in the section below.
I can't agree more.......
Yes boss, nowadays people don't even read again.
It's so funny that most people think crypto currency trading 💹 is a short cut to making money online they tend to gamble their way in investing...
They want to turn you to a magician and blame u when the price sour.
Nice advice thou and never forget the 2 rule of trading DYOR.
hahaha, you said it all boss. I know we will all get there sooner or later, but in life there is no sure thing....
Funny enough, this is the best advise and very true.
Thanks @prince-octavian for this wonderful and eye-opening post. I really appreciate and have learnt a lot
Happy New Year
Mr You aka @enolife my brother, it's scary how people just ride FOMO waves without understanding the purpose of a coin/token, well at the end of the day we need FOMO riding noobs to make more money for us.
Very helpful..... Nice
You are welcome, I am glad you like it.
nice post
Thank you. I am glad you like it.
I used to think I am guru on crypto related subjects, but there are some points in this post i have ignored bluntly.
Thank You for this wonderful post and an educative one at that.
Bro, it is step by step, we keep learning everyday. Thanks for stopping by, happy you like it.
Prince, May the Lord bless you bro. The no 15 is very very annoying the way some people behave when they get into general e-public... many annonying qestions been asking repeatedly meanwhile google is very friendly. Anyway we cant all be the same.
My brother amen! to the prayer, it is really tiring... I am happy you like the post boss, thanks for stopping by....
You're welcome boss.
Woo...this is one of the best advice I have gotten so far for 2018... @airhawk-project thanks for sharing and passing this information of warning to us all to learn from here it, I will definitely pass the warning to my group on whazup...Once again thank you very much.,,upvoted and resteemed.
Hey @airhawk-project I've created a post on cryptocurrency and I am pretty new here, would you be able to curate it for me?
Thanks! I am happy you like the post, do watch out for more posts from me via @airhawk-project
This is very educative thank you so much @airhawk-project
I am happy you like it, thanks for stopping by...
Nice write up.
I wish to state that it's not all cryptocurrency that has or offers private key since of them do not have their own wallet
Still, if you do not own the private keys, you own nothing.
That is a fact, hard one! I think i need hardware wallet in my life.
My brother @autofreak, thank you very much, you have said it all, and yes! what are you waiting for brother? go get a hardware wallet, ASAP! I agree @aljustun tokens do not have private keys, but the ethereum wallet you put them in has one, or do you mean there are actual coins out there without a private key? I really doubt that, as it defeats the purpose of why it's a cryptocurrency in the first place. There must be a form of something private only you should have access to like private keys, seed keys, mnemonic phrases etc
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he he .. I agree .. sounds more less like the disclaimer for an adventure park
Sorry to ask wha is the purpose of airhawk project