A very warm welcome to all the newbies out there if you are just getting started with cryptocurrency then here are few beginner tips that will keep you going on the right track.
The crypto scene is not just anyhow place you jump into its a highly volatile market unpedictable but promise good returns if you trade or invest in the right way
1. Coinmarketcap.com is a great place to research coins – click on coin and the left side nav offers 3rd party links social networks, forums and official site
2. Don’t get overwhelmed by the techie talk in your research – keep reading – your brain will database the important words and make sense of it after you finish reading. (you will be a semi-pro after your 3rd whitepaper 😊
3. Ask questions on forums and community – whenever you have a question feel free to ask the community like bitcointalk.org crypto currency group on facebook reddit they will surely render help.
4. Make sure you do your own research before investing in any cryptocurrency don’t ask people what to buy, rather you can ask for opinions on specific blockchain technology this way you will learn and not blindly follow market bubbles off the cliffs
5. Please never invest more than you can afford to lose. This is new technology and well... things happen. Companies fall apart, wallets break, hackers hack and well something bigger and better simply appears out of nowhere.
6. Don't ever all of keep your assets or coins on the exchanges that why you have Mycellium, Copay, Bread wallet best bitcoin wallet and Blockfolio, Jaxx and Coinomi are currently the best multi-wallets – most coins have their own (stand alone wallets / some even mobile)
7. Always add and enable extra security. On everything and anything you can. Google Authenticator, Pins, and 2 step verification processes are your friends.
8. Always back up your wallet off-line. A fire proof safe with printouts of your private keys and a flash drive for immediate access is a good way to go. Remember You ARE YOUR BANK.
9. Buy Low – Sell High. Don’t buy into the hype. Remember a correction is always just around the corner.
10. Diversify! Diversify!! Diversify!!! Spread your portfolio across several assets that you believe have solid opportunity and let them grow for months at a time.
11. Cryptocurrency investments are much like a crazy rollercoaster at times – for every surge there is a correction.
12. Keep your emotions in check. Nothing is worse than allowing your emotions to make decisions for you.
13. Finally, Tell your friends about the blockchain! More importantly than anything else make sure to spread the love of crypto technology and help us grow the crypto community in Africa and share with the world.
Enjoy!
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