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Author Topic: Rules of Engagement, my little nuggets  (Read 97 times)
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October 10, 2018, 08:53:48 AM
Merited by HeRetiK (1), tranthidung (1)
 #1

Most of us were drawn to cryptocurrency because of the decentralized nature of this technology. And how open and neutral it is.
Decentralization also entails that we have no central system to lean on, and we are individually responsible for ourselves and our assets.
And you have to always be in control, and never let your guard down.
Here are some tips to help protect your interests;

Protect your private keys
You should have definitely been advised to never disclose your private keys, but this rule does not only apply to strangers, friends, aquaintance and even family should never be privy to your private keys and data. People fall out and people also get greedy.

Protect a $100 worth wallet as you would a $1000000 worth. Even a mentor or a tutor who taught you about cryptocurrencies should not be aware of your private keys and if they did ask for it, open another and transfer all your assets out (if any).

If not actively trading withdraw all your assets;

No exchange is safe to store your tokens / coins. Even those which have never been breached should not be trusted with the safe keeping of your assets.
Once you're done trading withdraw your assets to the safety of your wallet.
And if you are on a decentralized exchange always protect yourself using metamask

Treat any person you're transacting with as a 'potential' scammer and act accordingly in your best interest ;
When in any peer-to-peer transactions always handle it like a potential scam, and never leave any room for that.
If involved in a direct exchange, always use escrow. Even if the user doesn't have a neg trust, always be on your guard.
In cryptocurrency, everyone is guilty until proven innocent.


Never get too enthusiastic about an ICO ;
I don't encourage ICO investments, but we have to leave room for improvement, as there is a lot of untapped potential in cryptocurrency. Never be completely sold into a project, and always invest what you can afford to lose.
If you must invest at all, do your research effectively, scrutinize and question everything, handle it as a potential scam, you would more often than not be right.


Take any information with a bucket load of salt; FUD, FOMO, shilling are all part of the crypto game, and they are mostly manipulations to force you into making a panic decision which would be in the interest of some larger enthusiast. Scrutinize any suggestions, speculation or prediction, from any crypto influencer or expert and always DYOR (Do You Own Research)

Learn from your mistakes; when you encounter a loss or a major error, always take the positive from it while you mourn over your losses.
Look for where you went wrong and correct it fast. It's part of what makes you a better trader and a better person.
And never under any circumstance make excuses.

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October 10, 2018, 01:42:34 PM
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Never get too enthusiastic about an ICO ;
I don't encourage ICO investments, but we have to leave room for improvement, as there is a lot of untapped potential in cryptocurrency. Never be completely sold into a project, and always invest what you can afford to lose.
If you must invest at all, do your research effectively, scrutinize and question everything, handle it as a potential scam, you would more often than not be right
As i'd always say every ICO project is a scam, at least until they are not(the end), that way you get to keep your heart in check and never get heartbroken,its not really even about scrutiny as its impossible to know a scam ICO project from the beginning,though you could make wise guesses..

 Just do not be greedy,and invest the little you can lose,that way it wouldn't hurt much, then as a hunter all you lose is your precious TIME!!!

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