Scams are everywhere 

The crypto world is full of scams and frauds, according to a report, more than $1 billion have been lost forever to scams since 2021.

You won't believe it, from the time 2014 to 2021, the total amount is jaw-dropping. 

Rug pulls are even common these days and millions of dollars are wiped out within seconds.

New tokens are coming every day. ICO/find raising scams are now common, and victims of fraud are nothing new. 

As cryptocurrencies are designed not to be traced and regulated, no one can know who is behind the address. 

You can send millions of dollars worth of Bitcoin to anyone just by an address. 

Avoid Tokens 

Holding or investing in tokens/sh*t coins is extremely risky. 

First, Check total supply, total in circulation, use cases, dev details, project roadmap, etc. 

99% of the cryptocurrencies are worthless and in future, sure, most of them left with nothing.

For example, if You bought 100$ of a new project's tokens, it may get devalued because devs keep minting new for their profit. This is just an example, and there are lots of ways. 

There are more than 19,000 tokens listed on coinmarketcap alone.

Today, anyone can create tokens instantly on Ethereum, Binance smart chain, or polygon network. 

I believe in blockchains with good use cases, future and more. 

Digital currencies are highly unregulated and volatile

Keep in mind, that your favourite coin can be dumped in a matter of time. Almost all assets can be controlled by whales. 

As the Crypto space is growing day by day, sh*tcoins are growing too. 

Only invest what you can afford to lose. At first, you might ignore this, but when you are more in Crypto space, you will understand everything. 

If you are investing while in the bull market, chances are very low for you to pull out profit. Similarly, some experts will tell you to wait for the bear market. It is not a quick rich scheme. It takes time, experience, and lots of research. 

If Bitcoin is your first choice, think before

Afcourse, Bitcoin is the first P2P digital currency. However, I don't think it is a good choice for long term investments. 

Bitcoin has terrible issues with speed, transactions fees, and it is also very bad for the climate. For day to day use, it fails to be a currency. For ex: Will you pay $25 everytime everyday to buy goods, hope not. 

Today, assets like Ethereum, could replace BTC in future as they are proves to be future proof. 

Think Long Term

Crypto is just getting started, there is more to come. 

I think most coins will get devalued over time and only strong fundamental projects will survive. 

For example - Within a single project, like Ethereum, lots of things are happening and more to come. NFTs, DeFi, Dao, etc. 

DYOR before getting into the crypto world. 

Ignore Hypes

Most People step in when they see, oh it's already 110%+ and might lose all the money within a day. 

I remember buying some coins at ATH and it never reached there again, it's been 4 years. 

Stick to what you believe in. Do not take advice from YouTube, Google or any expert. 

Fear of missing out is what drains the money from lots of investors. 

Staking Coins

Before staking coins, check redemption time, platform type, stake/unstake fees and other things. Most of the Defi platforms can even take up to 7 days to reflect assets in the wallet. 

Staking coins is risky, as there are no insurance and high end protection of principal assets. 

To earn annual interest on your holdings (safe and insured), I prefer lending coins on Nexo rather than Defi. 

Flexible staking options are rare, fixed staking is what brings higher APY but trading/sending coins are impossible at the same time. 

Do not put all eggs in one basket

A great example is Luna/UST crash, from 50$ to 0 cents. 

Always try diversifying your portfolio.

What about Stablecoins? 

Stablecoins are pegged to usd dollar, value always will be 1$. However, in recent days, a popular coin, UST, dropped from $1 to 1 cent and this has exposed the algorithmic stablecoin market. 

Most people's have lost life savings in no matter of time. 

Tether is first and most popular stablecoin, you can research a little before using any stablecoin. 

Use Binance 

I am using binance for a long time and this is the only exchange with the cheapest fees, superior safety and much more.

I have tried several exchange and platforms that offers crypto trade/buy/sell service, what found all of them garbage. 

There are many advantages of using this exchange over others. Lowest withdrawal fees, cheapest trading fee, no deposit fees, insured money, etc. 

Today the company is serving worldwide, from anywhere you can buy/sell digital assets.