Crypto Cheat Guide 2.0
Crypto Cheat Guide 2.0
What is Cryptocurrency?
In the simplest terms, cryptocurrency is digital
or virtual money. It uses cryptography, a
method of secure communication, to ensure
secure financial transactions, control the creation of new units, and
verify the transfer of assets.
Each exchange has its interface, but generally, you will see a trading
pair (e.g., BTC/USD) that shows the price of one
cryptocurrency in terms of another.
😉
minimize the volatile ride of trading or investing in crypto, use this basic asset
allocation and diversification guide below. Change as you see fit.
35% Large Cap Utility Coins & Smart Contracts: This category
includes Ethereum, Binance Coin, Solana, Cardano, XRP, XLM,
Polkadot, Cronos, Polygon, VeChain, Algorand, HBAR, Cosmos or Quant.
Allocate 35% of your portfolio here.
Understanding Volatility
Cryptocurrencies are notorious for their price volatility. Values can
surge or plunge by double-digit percentages within a single day, which
means potential for significant returns and substantial losses.
1. Diversify Your Portfolio: Don't put all your eggs in one basket.
Diversify your investments across various assets to spread risk.
You may also diversify across asset classes, balancing your crypto investments
with traditional assets like stocks or bonds. This can provide a buffer against
crypto market volatility.
Rebalance Regularly:
In the next chapter, we'll get hands-on with buying and storing
cryptocurrencies. Get ready to make your first crypto purchase!
It keeps track of users' public and private keys, which are essential
for executing transactions on a blockchain network. Wallets can come
in various forms, such as hardware, software, or paper wallets, each
with its unique features and security measures.
Pros:
Cons:
There are various 2FA methods, but one of the most common is using an
authenticator app like Google Authenticator or Authy.
These apps generate temporary codes for you to use when logging in,
making it much harder for unauthorized users to gain access.
Put simply, it's a time when the value of most digital currencies, such
as Bitcoin and Ethereum, increases over a
significant period.
Investors who believe that prices will increase over time are known as
"The Bulls”.
3. Bitcoin Halving Cycle: The BTC halving cycle is a key part of the
four-year crypto market cycle. It happens approximately every four
years, reducing the block reward for miners. This event often
precedes a bull market phase, with reduced supply driving increased
demand and price growth. While the halving plays a significant role,
other factors like adoption and regulation also influence the market.
The cycle then repeats itself, with the market moving from the bear
phase to the accumulation phase and then back to a bull market. It's
important to note that while this pattern has been observed historically,
past performance does not guarantee future outcomes.
Pros:
Cons:
Coinbase Blog
CoinDesk
CoinGecko
CoinMarketCap
CoinStats
Crypto Bubbles
● Visualize cryptocurrencies
like Bitcoin or Ether on
Crypto Bubbles in an
interactive bubble chart.
Detect trends or get an overview of the cryptocurrency
Etherscan
Glassnode
Reddit Bitcoin
TaxBit
Trading View
5. Investing More Than You Can Afford: The volatile nature of crypto
markets necessitates cautious investing. Only invest what you can afford
to lose and educate yourself about market cycles, such as "bear" and
"bull" markets, to make informed decisions. This approach will help
mitigate potential losses and reduce financial stress.
5. Request for Crypto Assets: Victims who fall for the scam are asked to
send cryptocurrency assets to a wallet address provided by the
impersonator. They are told that by sending a certain amount of
cryptocurrency, they will receive a larger sum in return. In reality, their
funds are stolen, and they never receive anything in return.
It's important to note that legitimate influencers and public figures DO NOT typically ask
for cryptocurrency transfers or private keys in exchange for giveaways or investment
opportunities. To avoid falling victim to these types of scams, individuals should exercise
caution when receiving unsolicited messages, always verify the authenticity of
accounts, and be skeptical of offers that seem too good to be true.
To protect oneself from crypto scams, it's essential to educate oneself about common
scam tactics, stay updated on the latest security practices, and verify the identity of
individuals or entities before engaging in any financial transactions or investments in
the cryptocurrency space.
4. File a complaint with the Internet Crime Complaint Center: If you're in the
U.S., you can also file a complaint with the FBI's Internet Crime Complaint Center
(IC3).
5. Preserve Evidence: Keep all the evidence related to the scam. This includes
chat records, emails, wallet addresses, transaction IDs, and anything else that
could potentially be used to track the scammers or prove the fraud.
6. Consult with a Lawyer: Depending on the scale of the scam, you might want
to consult with a lawyer who specializes in digital or financial law.
7. Increase Your Security: After falling for a scam, it's crucial to increase your
security to avoid being targeted again. This may include changing passwords,
enabling two-factor authentication, and investing in more secure storage for
your cryptocurrency.
I wrote this ebook to TRULY help you achieve everything you want.
You are now ready to start a journey of creating wealth with digital
currency.
Commit to learning more and stay positive during your journey. This
guide can be adjusted to accommodate your personal financial goals.
If you haven’t already, go ahead and click this link to start your
cryptocurrency account.
Congrats~
Calvin Hill
P.S. Don’t Forget to Follow Me On Youtube⇒>
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