1) Diversify your portfolio if you are unsure of what youre doing, then narrow down your portfolio if you know what youre doing.
2) Surround yourself with crypto people, do not recruit your friends into investing in crypto.
3) Invest 1020% of your income after tax in crypto (since most of you, dont know what invest what you can afford to lose means).
4) Think long-term profits, not short-term gains.
5) Always do your own research. Manipulation, hype, pump and dump, fraud, scam, hacking, and stealing, are common here in this space, and can sometimes lead people to financial loss.
6) Keep your day job despite reaching your financial goal in crypto, so you are not emotionally dependent on your crypto profits as a source of income.
7) ITS NOT CASH, UNTIL YOU SELL YOUR CRYPTO FOR FIAT.
Read, and read, every day, do not underestimate the power of reading. Learn something new about blockchain and cryptocurrencies every day.
9) Avoid pyramid schemes, cloud mining, MLM, earn interests schemes, and ponzi schemes such as Bitconnect.
10) Be responsible with your newfound wealth, dont be reckless, you may experience a state of euphoria when your portfolio reached triple gains.
A good summary for the things that every newbies should learn for, its so easy to understand and I hope more newbies will become successful in the future. Diversified investment on cryptos is good, but invest the available money that you have its ok if its below 10-20% or even higher, its really up to your cash buffer. I do suggest to have fix investment monthly and you can have a good return in the long term of investing. 2) Surround yourself with crypto people, do not recruit your friends into investing in crypto.
3) Invest 1020% of your income after tax in crypto (since most of you, dont know what invest what you can afford to lose means).
4) Think long-term profits, not short-term gains.
5) Always do your own research. Manipulation, hype, pump and dump, fraud, scam, hacking, and stealing, are common here in this space, and can sometimes lead people to financial loss.
6) Keep your day job despite reaching your financial goal in crypto, so you are not emotionally dependent on your crypto profits as a source of income.
7) ITS NOT CASH, UNTIL YOU SELL YOUR CRYPTO FOR FIAT.
Read, and read, every day, do not underestimate the power of reading. Learn something new about blockchain and cryptocurrencies every day. 9) Avoid pyramid schemes, cloud mining, MLM, earn interests schemes, and ponzi schemes such as Bitconnect.
10) Be responsible with your newfound wealth, dont be reckless, you may experience a state of euphoria when your portfolio reached triple gains.