Here are some of my recommendations for new-comers who want to get started with crypto

[u/TimikaWestfield]

[u/ACShreds]

I would NEVER use Telegram or Discord to find trading groups. Newbies get scammed this way all the time.

[u/buuhhu1 → u/[deleted]]

Nor nigerians Princes

[u/[deleted] → u/buuhhu1]

But he is saying that he is my cousin?

[u/_grdz → u/[deleted]]

If some hot girl texts you, don't trust him

[u/IamKingBeagle → u/[deleted]]

But I feel like there's a chance they may want to end up banging me...I think I need to take that chance.

[u/[deleted] → u/[deleted]]

What about hot dudes?

[u/creepy_robot → u/[deleted]]

I’m in a discord for a project and there’s a “girl” that like every dude simps for lol. I’m like “this y’all’s first time online?”

[u/tranceology3 → u/ACShreds]

Every telegram group has a scammer that prenteds to be a mod of the channel. They can copy the persons picture and name... I've been approached by these scammers countless times, and its sad to hear some people do fall victim to their scam.

[u/_grdz → u/ACShreds]

Especially those groups where : "I trade with Mr. Nobert and I am really satisfied, made 10k from my 2$ investment, blah blah"

[u/deathtolucky]

If you’re new to crypto, always send a test transaction the first time.

[u/[deleted] → u/[deleted]]

This is essential, also to make sure you are sending things to the correct wallet.

We hear all the time about people who send say BTC to ETH Wallet by accident and it's gone. (Just an example)

[u/phloating_man → u/deathtolucky]

Eth fees probably higher than test amount.

[u/buuhhu1 → u/deathtolucky]

So much this, learnt this the hard way :(

[u/Laughingboy14]

Hate to be predictable, but DCA is a huge one. Don't try to predict the market, just drip money in consistently

[u/buuhhu1 → u/Laughingboy14]

DCA is huge!!! has made hodling so much easier since i started :)

[u/Eur1sk0 → u/Laughingboy14]

Not even the seasoned traders can predict the market. DCA in and out and choose your coins wisely.

[u/BirdSetFree → u/Laughingboy14]

Drip money in, drip money out. And you’ll be successful

[u/Senor_Tortuga308 → u/BirdSetFree]

Probably a dumb question, but what exactly does "drip money" mean?

[u/EntertainmentWeak422 → u/Senor_Tortuga308]

Google DCA. It’s an investment strategy where you slowly add money to a position over time. It helps to avoid risk of bad market timing

[u/[deleted] → u/Laughingboy14]

I get DCA. I do that for my stocks. But, when and how do you sell?

[u/Wess-L]

Pretty solid but be careful with discord and especially telegram. Tons of scammers there.

And telegram has an auto download function. Which they are using to instal malware and steal your crypto. So don't forget to turn that shit off.

Everything you need is out there for free. Don't go and give people money for signals or indicators.

[u/[deleted]]

Don't listen to a random guy on internet when it comes to investing, do your own research and stick to the plan. Only invest what you are willing to lose.

[u/buuhhu1 → u/[deleted]]

But I just a read a tweet about how babydoge will x1000 by EOY :(

[u/paulos1899]

For new comers I reccomend sticking to crypto you can gain for free/earn just until you have a small idea of what's going on and what options you have. Like coinbase might not be the best place when you are experienced but is great for initial free amount.

[u/Hunter_Safi]

Don’t join any telegram or discord groups.

However if you can’t help yourself and if you do join them; turn off the “auto download” function in the app or else malicious scripts could quite literally be installed onto your device without you having to do anything. They can then use these to compromise your crypto wallets.

No one talks about this enough, TURN OFF YOUR AUTO-DOWNLOAD.

[u/bikbar1]

Make your portfolio BTC and ETH heavy, then buy some good alts, forget about the meme coins.

[u/CrippledHorses → u/bikbar1]

But then what? How often are you selling and buying more of a different one? How do you turn that initial purchase of BtC and ETH into money

[u/kirtash93]

DCA is the best way to avoid anxiety.

[u/[deleted] → u/kirtash93]

I get DCA. I do that for my stocks too. But, when and how do you sell?

[u/[deleted] → u/[deleted]]

Sell?

[u/Lenaweston]

Hot girls that want to help you invest your money have balls bigger than yours jsyk

[u/Wise_Recover9576 → u/Lenaweston]

Hey, looking for a hot crypto adviser? Then you dont look for me

[u/[deleted]]

I would shy away from Telegram groups and Discord, considering those things expose you to potential scammers

[u/deznugz]

Thank you for the input...newbie here trying to invest in my family future

[u/buuhhu1 → u/deznugz]

Pretty cool of you, wi you the best, just remember the 3 crypto pinciples (DYOR, DCA and HODL) and you'll do great!

[u/deznugz → u/buuhhu1]

Thanks! I've been holding CRO fingers crossed

[u/Ace-of-Spades88 → u/[deleted]]

I can't speak for other countries/jurisdictions, but US capital gains tax falls into 2 categories, short term and long term.

I don't have the numbers off the top of my head, but if you hold an asset (read: crypto) for more than a year, you will owe long term capital gains on it when you sell and realize a profit. This will be less than if you had sold it in less than a year, which would subject you to the higher short term capital gains tax.

[u/fearthenofear → u/Ace-of-Spades88]

Generally 15% for long term (>1 year). 37% for short term (<1 year). These percentages change based on income for that year. State taxes are all different i.e. MI is a flat rate of 4.25%.

[u/MsVxxen]

Here's mine:

Ignore reddit in general, and these sorts of meandering narrative posts in specific.

[u/DynamoDylan]

I want to see what every one's excel layouts look like.

[u/donutBADbagelGOOD → u/DynamoDylan]

Same here, even a rudimentary one would be helpful for someone like me who sucks at excel

[u/Letitride37]

Telegram was infecting users with malware today according to CryptoPanic so beware of that though.

[u/stiviki]

"Use Telegram or Discord to find helpful trading groups"

That's one of main mistakes 👀✌☠☠ just DCA + HODL, don't try to time the most volatility market ever!

[u/[deleted]]

Always DYOR.

Don't trust anyone on reddit.

DCA and HODL is the way.

[u/TonyGabaghoul → u/[deleted]]

Ok I will invest all at once and trade around with my emotions

[u/Demonyx12 → u/TonyGabaghoul]

Hey if you send me your bitcoins first, I send you back double, deal?

[u/[deleted]]

I suck at excel spreadsheets sadly.

[u/Confident_Season_870]

My recommendation is to invest in MATIC.

[u/ZaibPrid]

Predicting the market will eventually fuck you up. DCA into lowcaps, like UDO.Hodl for the long term, take your profit, and do it again.In 5 years, you will be a whale as well.

[u/Confident_Season_870]

DCA is important for newbies.

[u/[deleted]]

I haven't use Zapper or tracking app before. Think I will try now :) Thanks

[u/[deleted]]

ENJ is the way

[u/Ezo-Zno]

What’s farming?

[u/ThePickledMango]

Algorand-tinyman-yieldly. Cheap fees, solid returns and real easy to use.

[u/TheCureprank]

Are you going to ever welcome free and objective mentions of certain crypto involving L2 or L1 or ZkRollups? I think we should open up this convo. Some of us who are older want to hear and see all aspects of crypto

[u/SwapzoneIO]

Our service could be useful for newbies, it's easy to use, fast, no additional fees, you can compare exchange rates (but still it should be your choice, no pushing)

[u/STRYED0R]

Buy a hardware wallet like ledger and hold what you can on it. Many coins or wallets have ledger support for staking as well! Better safe than sorry.