Useful lifehacks for newbies in crypto

By SoyRass | Cryptoworldstandard | 16 Jan 2022


Crypto can be very complicated when first starting and many of us have made mistakes along the way i know i have so here i am going to provide a couple lifehacks i wish someone would have taught me when i first started with cryptocurrencies.  

 

If I am missing any feel free to add to the list to help others new to the crypto space we need to help eachother understand and give advice.

 

1.  When moving money across exchanges always be sure to use cryptos with low transfer fees and avoid using erc-20 tokens which could cost $100's just in mining fees i still have money stuck in wallets making this mistake and i wish i would have known about this before i transfered funds

 

2.  If you connect your wallet to sites make sure you are on the right site by bookmarking the site and always double and even triple check you are on the right site.

 

3.  Have your funds spread out across multiple wallets to avoid all your funds being taken in the case one of your wallets gets compromised as this is a real risk when dealing with decentralized staking pools and connecting your wallet to different sites stay safe

 

4.  NEVER SHARE YOUR SEED PHRASE WITH ANYONE this is the way scammers get ahold of your funds if you share your seed phrase you are giving up ownership of your tokens

 

5.  Learn about staking and earn interest on your crypto but do your research many scams are out there.

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