From good habits that protect your assets to bad ones that could cost you, this article dives into the crypto habits shaping your journey. Learn from both community and team experiences to refine your strategy.
In crypto, it’s all about the habits you form. Whether you’re new or have been in the game for years, some routines can boost your security, while others can trip you up. But the good thing? We can all learn from each other. In this article, we’ve gathered some of the best (and worst) habits from our tribe to help you level up your crypto game. Ready? Let’s dive in!
When it comes to navigating the world of crypto, some of our community’s best habits are pretty simple—but they work. One participant swears by staying active in project communities, especially when buying tokens or NFTs. Being in the loop with updates and changes can make a huge difference, and it’s a great way to get involved.
Another must-do? Using a Ledger or cold storage. Storing your assets offline protects you from hacks and ensures that your funds are safe, no matter how wild the markets get.
One member of our tribe has a unique habit that might seem a bit unconventional but could be a lifesaver: he suggests that it’s very important to memorize your key phrase. He even recites it from memory once a month, just in case anything happens to his hardware wallet. His philosophy? Always be prepared. And our star dev, Itzmmna, agrees! He also emphasizes the importance of following a Zero Trust strategy, ensuring you never trust any platform, link, or app until you've thoroughly verified its safety.
And of course, Do Your Own Research (DYOR) continues to be one of the golden rules. Taking the time to understand a project before diving in helps you stay informed and avoid risky situations.
We all slip up sometimes, but knowing what to avoid can make a big difference in your crypto journey. One common mistake in our tribe? Holding on to losing positions for too long. It’s easy to hope things will turn around, but waiting too long to cut your losses can lead to bigger problems down the road.
Another error is being too quick to trust. One participant admitted to signing transactions with a Ledger on newer dApps without testing them out with a hot wallet first. It’s risky business—especially if the platform isn’t familiar. Always test with smaller amounts first to avoid surprises.
And here’s some advice from Aaluxx, our co-founder: Keep a cool head, always. Making crypto decisions when you’re emotional, stressed, or even hung over (yep, it happens!) is a surefire way to make mistakes. Don’t let emotions control your trades—stay calm, stay focused.
Finally, never click on unverified links in communities. Phishing scams are everywhere, so being cautious online is one of the easiest ways to protect your funds.
Looking for some extra advice to take things to the next level? Plan your exit strategy before the market turns. Know when you’re going to sell or take profits, so you're not making rushed decisions when the heat is on.
And don’t forget to diversify—both your assets and wallets. Spread out your holdings, and make sure you have backup wallets ready to go. It’s always better to be safe than sorry.
Crypto success is all about building good habits and breaking bad ones. By learning from each other and sharing our experiences, we can all make our journeys a little smoother. So take what works for you, avoid the common mistakes, and you’ll be on your way to mastering your crypto game in no time.
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