2023-03-01 10:59:20
New crypto investors should know:
#1 Build your crypto knowledge
Research and understand what you're investing in.
#2 Protect your crypto investments
Implement good digital security habits and watch for common red flags to protect your crypto from hacks and scams.
#3 Tune out the noise
Cryptocurrencies are numerous, making them very noisy and confusing. Educating yourself on crypto and tuning out the noise are both essential.
#4 Keep the taxman in mind
Taxes should also be taken into consideration by new crypto investors. Cryptocurrencies are taxed similarly to gold and stocks.
#4 Brace for volatility
Be prepared for a wild ride if you're investing in crypto. You must be capable of dealing with the volatility associated with cryptocurrencies.
Are there any other tips you would recommend for a crypto novice?
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