10 Crypto Rules You Should Follow

10 Crypto Rules You Should Follow
Published: 
March 29, 2019
Below are 10 crypto rules that you should consider following in order, amongst other things, to stop you from going crazy, getting scammed, or losing all of your money.


1. Never leave coins or tokens on a Centralized Exchange long-term. Since you do not have the private keys, or the exchange could close down at anytime.


2. Buy a hardware wallet like the Ledger Nano S, since hardware wallets are the most secure method of keeping your investments safe.


3. Never write down the passwords for any exchanges or wallets e.g. and leave them on your computer or mobile phone, since both can be hacked.


4. Never follow anyone blindly on Social Media, since their opinions are just that, opinions, do your own research first before buying into any project.


5. Don’t check crypto comparison sites like CoinMarketCap every minute of the day. It will drive you crazy.


6. Only day trade if you are highly confident in your skills and ability to do so, since most people end up making a loss.


7. Only invest what you can afford to lose since there are no guarantees that your investments will go up in price.


8. Don’t thing that investing into crypto will make you rich overnight. It should not be viewed as a get-rich-quick scheme.


9. Always be aware and be on the lookout for scammers, who may try to take advantage of you in emails and on social media for example. Do not send your hard earned cryptos to people who’s identity you cannot confirm 100 percent.


10. When clicking on links to websites such as exchanges, always ensure that you are going to the real site and not one pretending to be that site with a similar address. Once you have the correct web address, it is always a good idea to bookmark the site.