With bitcoin not far from all time highs and once it breaks through with confidence it will likely lead to a pretty big alt season and bull market but as always so many will get rekt.
It happens every cycle and it will happen again. So I wanted to write this post to be a good source of information for those looking to invest in this bull market.
So i’ve been in crypto since 2019 now so I’ve seen it all happen last bull run.
I was lucky not to be invested in Celsius and FTX in the last bull run. I came out mostly unscathed from this bear market.
I’ve ran gaming guilds, mined cryptocurrencies and invested and traded in crypto for 5 years now. I am not sharing this to impress you, I am sharing this with you to impress upon you that crypto profits don’t often come easy.
So here are my tips for avoiding rugs, scams and taking profits.
Before you even start you should be using cold storage (ledger, trezor etc) and do not store your crypto on exchanges (not your keys, not your coins). You should only have on exchanges what you are using to trade, everything else stored offline so the majority of your crypto should be on cold storage.
Your key phrase should never be saved onto a pc or phone or any device that can be hacked and you can lose everything. Write it down and keep it somewhere say. Connect your cold storage accounts to what ever can be a hot wallet (metamask, ronin, phamton, etc). Never give you key phrase to any EVER. I don’t care if it’s your mom asking you for it. You shouldn’t do it.
Research the coins and tokens you invest in. The do your own research is not just something people say all the time on youtube, crypto is not easy to invest in and if you do not have belief in the projects you are investing in it will often lead you to making poor decisions and getting rekt.
Use rugscanner tools, read the whitepaper, join the community and find out about the team running the token.
Knowing when to take profits, use the website lookintocrypto, they have many indicators you can access for free that show when the market is nearing the top of the cycle like NUPL, MVRV Z Score, Pi Cycle Top Indicator, Bitcoin Cycle Master.
Also I am creating a telegram group for those who want to team up and share research and coins, tokens they have found to be good to share and get reviewed amongst the group before investing. Helping each other spot issues and find the best tokens can be a great way to invest wisely and we can invest in them together to.
Let me know if you want to join the telegram group.
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