Post
Topic
Board Nigeria (Naija)
Re: Your best advice regarding Cryptocurrencies
by
Samlucky O
on 28/05/2025, 16:28:35 UTC
We have always a lot to consider when it comes to cryptocurrencies, and sometimes you don't even know where to start to give newbies important advice. So: what is your best advice for cryptocurrencies?

My best advice is:

Not your Keys - not your Coins

Because storing your coins when you have your own access is always very important if you want to keep control of your coins.



So feel free to let us know what your best cryptocurrency advice is.
There are varieties of advice to give to newbie who is new into cryptocurrency and no 1 has been answered by you already which is most importantly not your key not your coin. Which implies that to be the legitimate owner of coin in their wallet, they should keep their seed phrase safe to avoid losing access to their wallet.

2. They should be careful when making transaction because any wrong transaction will result to permanent loss of asset which is irreversible since it's not like bank where complain can be made.

3. Newbie who want to invest should invest in a potential asset like Bitcoin and not some pump and dump shitcoin that turns rugpull with the test of time. Even if they decide to gamble some alt/shicoin, they should (DYOR) and invest with what they can afford to lose.

4. Newbie should avoid some cryptocurrency offer that appear too good to be true as they are mostly phishing site that comes with a malware which clicking on it may result to losing access to their asset. Most newbies often fall for this traps because they lack the prerequisites knowledge of phishing site.