Cryptonight — Learn from my mistakes

  1. Don’t add FIAT during a bull run — Every few months of a bull run followed by at least a year of a bear market when prices of ALL coins will fall at least 40%.
  2. Don’t invest too much in a coin you haven’t researched — ” Don’t be fooled by the rocks that I got ”, it can be a scam, it can be hype and it can be an organized bump. You can put a few bucks but don’t exaggerate.
  3. Notice transfer fees — You may what to transfer coins between 2 dexes to get better APY on savings. Please notice the fees of the transfer, it may cost you more than you’d earn.
  4. Don’t mine without the right tools and reduced energy fees — If you don’t have GPU miners and/or live in a country with cheap electricity or something just avoid it, if you’d profit it’ll be pennies.
  5. Don’t keep coins liquid when not trading — Most Dexes have investing options like staking or locking, let your coins make coins.
  6. Don’t put all the eggs in one basket — The Crypto world is cruel, this one coin you super believe it may and probably crush someday.
  7. Don’t be optimistic about winning crypto by gaming — Even if you somehow do, the fees to get it out of the wallet game are enormous.
  8. Don’t trust Dexes too much — It’s not your insurance company or your bank, just another website, don’t count on their support if you’ve made a mistake or if something happened to your coins.
  9. Don’t be afraid of the bear — It’ll end, I promise, don’t cash out when you’re in the red.
  10. Don’t panic, what comes around goes around — There will always be another bull run and your coins WILL worth more.
  11. Don’t participate in organized bumps — It’s a great opportunity to lose a lot really fast, don’t get in unless you’re a real pro trader.
  12. Be careful with airdrops — Those are often made by new organizations you don’t know a lot about, be careful with keys and passwords, and don’t be positive you’ll receive your reward.
  13. Don’t trade too much, be patient — Trading to win a dollar here and a dollar there on a bull run is cute but when you see all the coins get 40% drop for the first time you understand how useless it is.

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Maayan Layfer

Maayan Layfer

Senior FE/FS/Mobile/Everything developer, can't fix your printer but who prints things nowadays, right?! I also do Crypto now so I may also talk a bit about it.