I was commenting to
this post and realized this subject deserved a topic by its own.
knowing this would save me a lot of money when I began.
Imo these are some of the rules that all the people who's starting on trading, crypto and bitcoin should know
1. never invest what you can't afford to loose. no: it's not ok to invest your rent money, to loan, borrow money with friends or whatever.
this will make you trade out of fear and as Mark Douglas says in his books this is never a good decision.
2. study study study, read read read, before buying a project. (have you ever heard of DYOR?)
3. know how to identify a SCAM project so you don't throw your money away.
4. understand market cycles so you don't buy tops and sell bottoms
5. understand the concept of risk/reward. trading (and investing as well) is about finding assymetrical opportunities.
6. understand the difference between a private and a public key.
7. ALWAYS pay attention to where you're sending your funds. BTC and many other alts transactions are irreversible, you can bur your money.
8. ALWAYS have a backup of your passwords for wallets and your private keys.
9. use a VPN while surfing online
10. don't trust, verify.In your opinion:
What are some of the rules/things that begginers should dig into before investing in crypto?
I'd recommend you to check Secretsofcrypto post on his rules as well:
