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10 year cake day. What I learned during this time in crypto via Reddit.

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by COINS NEWS 185 Views

  1. Price predictions doesn't matter. Crypto moves in unpredictable ways. You can never expect it to go as the models or TA says.

  2. Speaking of TA, only use it to find basic information such as support, volume and BTC dominance.

  3. Keep your data secure. Don't brag about crypto to your friends or family. Keep your gains and losses discreet.

  4. One week in crypto could be five years in "real life". Crypto doesn't abide to real market rules and the developments could go fast in this space. Use it to your advantage for more gains or to mediate your losses.

  5. Trust your gut with investing. They say don't invest what you can't afford, but I say go with your risk appettite and intuition. If you think a coin or token is gonna moon because you did some research: go for it a in. Set stop loss orders to be sure you don't lose too much when things go south.

  6. Don't be loyal to projects that once were promising and went up substantially. Crypto evolves fast and leaves no one behind. If you don't see expected gains from a project, just do some research and transfer your stake to another one. That is if you care more about price action than a project / tech of course.

  7. If you see opportunities for free crypto and have some spare time left: go for it. Be it airdrops, educational rewards or faucets. You never know when a 3$ reward gets turned into 20$. And even then, you can swap it for a trusty coin like ETH or BTC.

  8. If you're holding a large amount of crypto, use some of thosr gains to get paid tax advice. Your local tax authorities can screw you a lot more than any -70% loss. A tax advisor doesn't cost much if you want to make a living from crypto.

  9. Not really related to crypto, but to your lifestyle in general. Don't be too frivolous with your money. Live frugally. Be a minimalist. Don't buy useless shit, concentrate only on things that make you happy. If you own too much needless things, you don't own them, they own you. Declutter your life. Lambo's is just a meme for me, I would never splurge on a yacht or a sports car just because I have so much money in my bank account.

  10. If you're getting too involved in crypto, checking your tracking app each day, all day long: take a break. I know bull markets can get exciting, but they also last long and can keep you engaged. Don't forget about your closest ones and that they need attention too. People around you will be there for you in low times, crypto isn't a person you can talk to. Sound simple, but is really an important part of a healthy life.

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