Things you must know before and after venturing into Cryptocurrency

Either you are a newbie or an expert in cryptocurrency, you need to know these basic things.

1. You must believe in Cryptocurrency and Blockchain at a higher technological level

2. Crypto is NOT a Ponzi scheme (or get rich quickly scheme)

3. Its not a network affiliate business. Don't think Crypto is a business where you need to refer someone to get paid in Cryptocurrency

4. You should never mine Bitcoin on your regular desktop computer, it will damage your hardware quickly. If you want to mine Cryptocurrency, kindly consider the ones that can be easily mined easily on your mobile phone. Mining coins like Pi Network, One Network can not damage your hardware.

5. Try not to be too emotional. You must be always ready to control your emotions before venturing into Cryptocurrency

6. You must not invest more than you can afford to lose. Try investing reasonably.

7. You must never give your private keys to anyone else. Your Passphrase should not be stored in any digital form like; Email, iCloud, phone notepad etc. Write them down with a pen and paper and keep them in different geographical locations (flood or fire outbreak may happen in a location). You can keep one copy with yourself and another copy with your mum. That's if you trust your mum though :)

8. You must always stay informed with Crypto news from reputable sources

9. You must never panic to sell your coins during a downturn. Learn to hold, especially when you are in loss. NFA

10. You must always take intermediate profits for oneself. When you have gotten enough profit, try taking out your investment. Don't be too greedy.

11. Don't put all your eggs in a basket; if the basket falls, all the eggs will break. You must not invest all your funds on one currency. Try filling your portfolio with different coins and tokens.

12. You must not hold a large amount of Cryptocurrency in a Crypto Exchange for a long time, use a hardware or non-custodial wallet instead. If you have your passphrase, then you have your money. Check out the type of wallets that are good for holding and trading here

13. You must not spend every hour checking Cryptocurrency markets. This may affect your thinking if the market is not going to your desired direction.

14. After gaining reasonable knowledge about Crypto, you must always help others that have less knowledge than yourself. Don't ever be stingy with this.

15. Never use Crypto money to oppress anyone, especially your friends. You need to control your pride after reaping the fruits of cryptocurrency. Show them how to do it if 'THEY ARE WILLING.'

16. Always support those who assist you with their knowledge. Appreciate their little efforts. This can be done in form of liking and commenting on their posts

17. You may turn millionaire overnight. You must be mature spiritually and financially. Do not allow cryptocurrency money take you out of the presence of God. Always reverence Him!

CLOSING THOUGHTS:

If you can conquer all these, then welcome to the wealth of Crypto.

I wish you the best of luck in all your Crypto investment and general involvement therein.

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See you at the top guys...!