Some little advice of Bitcoin and cryptocurrency

[Dr.Bitcoin_Strange]

Another reminder is that every bitcoiner or crypto enthusiast should remember the rule of "not your key, not your coin." Some investors feel deceived by some offers on staking rewards, and therefore they put their assets at risk by depositing them on a third-party platform that they cannot control as they would if they had them in a self-custodial wallet. Also, the advice of diversifying in crypto investments has actually led some people to heavy losses. I think it's better to stick with the only few coins or tokens that the investor is aware of. If you must diversify, then it should be on other non-crypto assets. 

[irhact]

10. Keep your emotions in check (avoid impulsive decisions).

11. Use reputable exchanges and wallets.

12. Stay calm and patient (avoid impulsive decisions).

Remember, investing in cryptocurrencies carries risks, and you could lose some or all of your investment. Always prioritize caution and careful consideration.

This are all very good advice that all newbies should follow but the advice is also good for older investors as alot of us haven't been investing in the right way and this is making us to not make profits while others are having successful investments.  Investing in either Bitcoin or altcoins can make you to have a good profits if you don't invest above your limits and don't get involved in fomo that leads to you buying at the top. Always wait until the market is settle before you start investing in any cryptocurrency. All the tokens that gets newly listed should be avoided and monitored to see how they are performing before you invest.

[beerlover]

Be it in trading or investing alone, one should never dare to share that he has bitcoin in his wallet.   Bitcoin is an expensive and profitable asset so you need to be more cautious about your words and actions so you can secured your coins 24/7. Don’t flex whatever achievement or successful investments you have most especially in social media, those people will never be happy for you but instead will try to attack you indirectly.  And as much as possible, live a very simple life despite of having successful bitcoin investment so that people will never make an eye of you, and think that you are only making a minimal amount of income enough for daily survival.

Well, I can share it because I have nearly nothing lol. What people need to be careful about is if they have any, because at that moment it would be subjected to attacking, both physical one if they know who you are, and also to hacking attempts as well, doesn't make sense, should be something we need to be careful about.

I believe that if we can do something nice, like something we can actually care about, we can make that work, and shouldn't be an issue at all. We are seeing growing pains in crypto these days, and if you can wait for it then we could all get rich, at that point we need to be silent about it.

Living a simple life when you get rich is hard, a lot of people want to fix things that are wrong in their life, that doesn't mean that they are going to go out and buy a lambo, or even latest iphone, it just means paying off their debt, that alone could be something that could peak interest from others about where you found that money, so you need to hide what you spend as well. If you spend anything on anything, do not let others know, because while you hide your income, you may fail hiding your expenditure and that could give you away, which is usually what people see at first sight.

[Cookdata]

Here are some little pieces of advice about Bitcoin and cryptocurrencies:

2. Don't put all your eggs in one basket (diversify your investments).

3. Do your own research_ (DYOR) before investing.

11. Use reputable exchanges and wallets.

There are so many hidden explanations you didn't make in your posts and I will brief some of them for clarification especially those who are learning and majorly the newbies and I will only do that for the ones that are not self explanatory.

(2) putting eggs in different places doesn't guarantee anything in investment unless you invest into the right project, buy coins that will worth something tomorrow and not some shitcoins.
(3) 2Fa are majorly for exchanges at most, I don't see there used aside from that and make sure you are using the open source one, not closed source.
(11) there is nothing like reputable exchange, most if not all exchange all acted like they are the good guys that are loyal to there customers but when you check inside, you will be awe on how they cheat their customers and seized funds from people.

[Maslate]

Another reminder is that every bitcoiner or crypto enthusiast should remember the rule of "not your key, not your coin." Some investors feel deceived by some offers on staking rewards, and therefore they put their assets at risk by depositing them on a third-party platform that they cannot control as they would if they had them in a self-custodial wallet. Also, the advice of diversifying in crypto investments has actually led some people to heavy losses. I think it's better to stick with the only few coins or tokens that the investor is aware of. If you must diversify, then it should be on other non-crypto assets. 

Once you own bitcoin or even altcoin, then you should be responsible of your own keys. Do not let other people know that you have bitcoin because that will also put your own keys into danger. Remember, not your keys, not you coins, so you should do everything to protect your keys by not sharing it to others, or keep it in a private place where it’s very impossible for one to think that you are hiding your keys there.

[GreatArkansas]

2. Don't put all your eggs in one basket (diversify your investments).

I disagree with this. Not all the time this will work or not for all people.
My personal experienced here is Bitcoin versus altcoins, before, I only had Bitcoin but later on, I was lured to altcoins, and converted some of my Bitcoins to some altcoins.
And after that, I realized, if I just hold Bitcoin, I am more profitable and not lost some.

[stadus]

2. Don't put all your eggs in one basket (diversify your investments).

Worst advice ever for crypto.

Do NOT diversify your crypto investments. Only Bitcoin should be considered for investment. Even if you "diversify" it should only be to hold coins you use a lot (ETH for gas on Dapps, for example).

It's highly irresponsible to teach people to diversify.

100x or 1000x altcoins what? That's not investment, that's gambling/speculation

When it comes to crypto, it’s no doubt that there is no diversification needed as long as you focused more on bitcoin and accumulate more through DCAing regularly. However, if you wish to invest out of crypto so you can secure more profits in the future, that could also be a very wise option. Diversifying your investments does not only mean limiting in crypto, but you can also start dealing with non-crypto potential investments as long as you only invest on the amount you can afford to lose, not through taking a loan or borrowing money from friends or relatives as that could only mean increasing its risks.

[fuguebtc]

2. Don't put all your eggs in one basket (diversify your investments).

I disagree with this. Not all the time this will work or not for all people.
My personal experienced here is Bitcoin versus altcoins, before, I only had Bitcoin but later on, I was lured to altcoins, and converted some of my Bitcoins to some altcoins.
And after that, I realized, if I just hold Bitcoin, I am more profitable and not lost some.

You can't blame diversification when it's your fault, if you can choose the right project you won't lose money and will even get better returns. I think this has to do with each person's knowledge and experience because if investing in altcoins only causes losses then why do some people still make huge profits from it and some don't?

Also, is investing in altcoins really considered diversification? I think diversification is when we talk about assets outside the crypto industry and diversification helps us reduce risk. Putting all our eggs in one basket is never a wise idea because it can cause us to lose everything if the cryptocurrency market experiences problems. For me, diversification is about investing in cryptocurrency and outside assets like stocks, real estate...not altcoins.

[Kelward]

2. Don't put all your eggs in one basket (diversify your investments).

Worst advice ever for crypto.

Do NOT diversify your crypto investments. Only Bitcoin should be considered for investment. Even if you "diversify" it should only be to hold coins you use a lot (ETH for gas on Dapps, for example).

It's highly irresponsible to teach people to diversify.

100x or 1000x altcoins what? That's not investment, that's gambling/speculation

As far as cryptocurrency is concerned, Bitcoin is the only asset that you can invest in and go to sleep with your two eyes closed. Despite the recent price dip that we're experiencing now, the experienced Bitcoin hodlers are not bothered about it, they know that it's price has the capacity to correct itself and skyrocket. But you cannot say the same thing about altcoins, most of them will dip and never recover, meaning that the project is dead and the investors will hold worthless bags. Although there are top altcoins that have gained reputations in the crypto market, but none can be compered to Bitcoin that has gained a reputation as a store of value.

[jcojci]

All of the thing is important to be understand so people doesn't make a mistake and prevent it before it happens. But number 10 and 12 could be lost if they are panic and can not maintain their emotion. We see many traders or investors fail with that number but they still have a chance to fix their mistake by checking what they already done.

If they can track what they did, they will see where is the mistake so they can be careful for more and will learn and practice more better. Investing in cryptocurrencies have risks so they must know how to manage the risks not to become big. By always learning and practicing what they learn, they will see their skills will improves and that will helps them to make a profit.