Monday, 16 March 2020

Why is everyone freaking out?

 And why do noobs seem to not feel comfortable here anymore?
I mean really, why? Since when has BTC tanking become a noteworthy event? And I remember a noob embracing culture when I got into crypto, what happened to that culture?

Just don't invest what you cannot afford to lose, don't succumb to FOMO, don't panic sell. Instead of getting wasted every weekend, get wasted only every second weekend and use the fiat money you save to buy small amounts regularly over a long period of time. Transfer your funds from your exchange to your hardware wallet every once in a while. Leave a small amount on your exchange so you can sell some BTC quickly if needed (or some evil hacker gets it, but who cares, because hopefully your main funds are on your secure hardware wallet and your mnemonic is safe on your cryptosteel and was never saved in a Word document or seen by anyone else). Use 2 factor authentication for your email that you use for your exchange, use 2 factor at your exchange es well.

Take precautions to make sure your loved ones can access your BTC and know what to do with it in case you die in a car accident. Don't talk too much about your excitement about BTC, this could backfire when you become rich in fiat terms. Adhere to your local tax regulations, take notes when you bought/sold at which price. Don't make it too complicated, doing transactions 50 times a day doesn't make you tax life easier.

Just hodl and wait for the next bull run. Never sell all your BTC, always keep a little on your hardware wallet.


1 comment:

ST