Something simpler for the Beginners [Send them here!]

Something simpler for the Beginners [Send them here!]

By lukejoseph1102 | Crypto Lalaland | 2 Nov 2022


This post was originally posted in one of my socialfi app - Torum ( Which will blogged here in the future for safekeeping)

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There's a saying that goes "If you can't simplify what you have learnt, it means that you do not understand it enough". For some reason that saying attached to me like a glue from when I first hear it and sort of became my style of learning. These generation, the saying goes "Explain it to me like I'm 5 years old". Simplicity is the ultimate sophistication. - Leonardo Da Vinci.

Becoming Simplicity Is Not About Deprivation Simplicity Is About Greater  Appreciation for Things That Really Matter | Meme on ME.ME

To write a post that would make sense for a beginner, is not an easy task. First of all, we have to assume that a beginner knows a little, if anything at all. It is much easier, to assume, then, that a beginner knows nothing. But, are willing to put money down into crypto. Then the first place to start can be of anywhere. For those who are more experienced in the space, you could ignore whatever there is in this write up. But if you are reading this, thank you and I hope you could take everything I said in this post with a grain of salt. That said, Just do it! - Nike. And as a good friend of mine from Torum said - Just Start!

 

But for the sake of a post that would be friendly towards a beginner in the space, I decided to list the things that I personally, would consider as a beginner in the space. I have to reiterate this, that this space, is unforgiving! And because of that, any investment that I make, will be met by critical scrutiny, by myself. You could use the list below that I always write in my posts as a quick guide that is a "duh!" basic:

 

1. Know who you are following in the social media apps (youtube, twitter, insta, Torum)

I can't stress this enough: You are who you associate with, and most of the time, most people think alike like those who they follow and grouped with. You'll notice the good ones will have nothing of sorts: "To the moon!" "Wen moon" and etc. What's with the moon anyway? Why not the blackhole. :calvincandie:

Now i can relate with reddit followers meme : r/memes

2. Avoid being greedy and only have a handful of tokens in your portfolio.

Easy right? Keep a maximum of 8 to 10 (Me: keeping 6) tokens in your portfolio. Do not spread yourself too thin - you simply do not have the time to keep yourself updated with too much, trust me. That is why;

 

3. Do your research right.

I have heard countless morons who says that they did their research, only to fallen prey into tokens that are clear as the sky: a scam shit token/coin. Apparently, doing your own research means [watching the youtube, and fall fomo into the hype]. No, don't spend more than 10 minutes on a whitepaper (read it fast to get a gist of what the token is all about - not your cup of tea, then move on to the next one). My personal addition, "If I don't believe in the tech, then there is no reason for me to hodl it".

7 Memes that Show the Power of FOMO - Business 2 Community

4. Learn how to protect yourself from the internet.

This advice come in many forms because protection could mean, protect your brain sanity, and protect your digital assets. Protect your brain - choose the projects according to your intellectual research and cancel the external/internal unrelated noise. The second one is the most important, because, even if you are so good in making money/crypto, it is useless, if you could not protect your wealth/assets.

Twitter 上的 Stax:"Loving the security memes! Want to win a ticket to AppSec  Day? Send your best security meme to hello@stax.io https://t.co/wWw7c0GVIW  https://t.co/5Yallnr9V6" / Twitter

5. Understand the terms and the jargons of the space.

The words are the one that is responsible for the culture that we have in cryptoverse. But more than that, understanding the terms and the right jargon, will lead you into better projects. Lets be real, most people do not understand what is blockchain and what decentralized truly mean in crypto. Understanding is key, and like I said, If you can't explain crypto and all of that entails in it, you probably do not know enough to be risking your money in the space.

 

6. Understand that investing in something without fully knowing what you are investing in, is gambling.

 

and my favorite of all.

 

7. Know what you own, and why you own it. Simple. Classy. Direct. If you do not know what you own, and why you own certain crypto - you have no business to be in crypto. It is risky as hell, and the last thing you want to be in, is to get that hard earned money washed away. Leaving you clueless and in most cases, penniless.

The best poor memes :) Memedroid

I think that is about it from me. If you have any doubt, it pays to know when and where to exit. But if you have just started your journey, I have nothing to say but, good luck. 

I wish to reiterate that I am no financial advisor - what you do with your money is of your own account. Pun intended. That said, take everything that is written in my post as a rough guideline if you will. 

 

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lukejoseph1102
lukejoseph1102

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Crypto Lalaland
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