Some useful and easy tricks for those who are new to crypto/Bitcoin!!
# Learn about bitcoin before you buy
Learn how Bitcoin works, especially mining, address verification, and halving.
If your interest is to buy and hodl, what's the essence of learning mining?
# Start small (DCA = use dollar cost averaging)
Buy small amounts regularly (e.g. weekly/monthly).
Okay for salary earners. But if you have huge some and likely not disciplined with money. Go in big when you see a good dip.
# Use a reputable wallet that is well verified.
Use a hardware wallet like Ledger Neno or Trezor to store large amounts of Bitcoin with offline.
Good advice.
# Back up your seed phrase properly.
Write down your 12- or 24-word recovery phrase carefully and store it in a safe place offline.
Warning: Never take screenshots or store it digitally where it can be hacked.
Another good one.
# Avoid keeping BTC on exchanges
Exchanges are targets for hacks. Bring it to your own wallet after buying your Bitcoin.
Remember, it's not your keys, not your coins.
A day trader can keep their coins on a reputable exchange. It doesn't make sense transfering to and fro wallet daily.
# Avoid Altcoin Hype (Scamming Traps)
Many coins and projects are high risk or scams so focus hard on learning Bitcoin before touching anything else. Also stay away from projects that promise guaranteed returns and high profits.
If you are a gambler, try some of the meme coins with a little percentage. You could turn sudden rich.
# Check addresses carefully
Always copy/paste Bitcoin addresses and double check the first and last few characters. (Sending BTC to the wrong address is irreversible)
You don't check the middle places? First and last is not okay.
# Learn to use Lightning for small payments
Learn about the Lightning Network and how to make small transactions with low fees.
This technology is not evolving. Someone can be very fine without learning or using LN
# Wait for 1 to 6 confirmations (depending on the amount) for secure payments.
Avoid quick confirmation transaction then.
# Stay updated and think long term Also, always stay with this forum and you will learn a lot, as I am still learning and benefiting.
Great advice.