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It’s beginning to feel a lot like 2017. Some useful reminders and advice for new comers.

Hype and increasing prices will undoubtedly attract new investors, HODLers, and gamblers. Regardless of how long you’ve been in crypto, below are a few pieces of information (or reminders) you should consider.

1. **We’re still early**. Cryptocurrency, including bitcoin, is still in its infancy. Because of this, we will continue to see headlines of hacks, exchange closures, big name investors coming into the space, major institutional adoption, and everything in between. Until crypto is regulated (for better or worse) and even after, there will be bad actors attempting to steal your cryptocurrencies. To that end, think twice when hearing about ‘deals’ or investments that seem too good to be true. They probably are.

2. **Protection**. I often see questions regarding the storage of cryptocurrencies. Not to oversimplify, but as a user, you have ~3 choices to store your cryptocurrency. In order of most secure to least secure:
1. **Cold Storage** – From wikipedia: **Cold storage** refers to storing **Bitcoins/Cryptos** offline and spending without the private keys controlling them ever being online. This resists theft by hackers and malware, and is often a necessary security precaution especially dealing with large amounts of **Bitcoin.**
If you aren’t comfortable manually storing your private key, physical hardware wallets are your best alternative. When possible, buy direct from the manufacturer to avoid any tampering to your new device.
1. [https://trezor.io/](https://trezor.io/)
2. [https://www.ledger.com/](https://www.ledger.com/)
2. **Hot Wallets** – From [investopedia](https://www.investopedia.com/terms/h/hot-wallet.asp): The difference between a hot wallet and a cold wallet is that hot wallets are connected to the internet, while cold wallets are not.
Hot wallets can be installed onto your mobile device and/or your web browser. Similar to cold storage, these hot wallets will ‘store‘ your crypto and will be accessed to send/receive tokens, execute smart contracts, and conduct other transactions. There are many options to choose from, but MetaMask is as close to an industry standard as it comes, and the developer has recently implemented an ERC-20 token swap function. Again, download directly from the developer if you can.
1. [https://metamask.io/](https://metamask.io/)
3. **Exchanges** – Exchanges certainly have their own purpose, most notably as an on and off ramp for your fiat currency (e.g., US Dollar, etc). However, when you read headlines like “Bitcoin Hacked for 10 million dollars!” what they usually mean is, a centralized exchange that holds users’ cryptocurrencies was hacked and bitcoin was extracted from the exchange’s storage. For this reason, exchanges are considered to be less safe than your Hot Wallet and Cold storage alternatives.

3. **Don’t be greedy**. This is easier said than done, and many veteran traders have learned this the hard way — some still haven’t learned. When prices are only going up, you’re going to feel like a million bucks. **But things dont go up forever**. **Ever**. (Unless it’s the Fed’s balance sheet.. har har). Point being, it’s okay to take profits along the way up. I guarantee you’ll have an opportunity to re-buy those same tokens at a cheaper price, and you’ll enjoy them even more the second time around.

4. **Don’t spend more than you can afford**. Hopefully this goes without saying, but the crypto space is extremely volatile. It is not uncommon to lose your entire investment with just one wrong token/ICO/scam. To that end; just use your common sense. It sounds easy, but when you’re making money, sometimes it’s hard to see the cliff at the end of the road.

5. **Keep learning**. I joined the crypto space because I saw an opportunity to make money. It’s been a wild ride, and I’ve learned a lot more than I’ve gained (from a monetary perspective). What i didn’t expect to happen, was to open pandora’s box when it comes to what Bitcoin (specifically) aimed to solve. My thirst for knowledge only expanded when I learned of the opportunity space Ethereum was trying to fill. Compound that with the immutability of blockchain technology, DeFi, smart contracts, data oracles, (and the list goes on); now I’m completely hooked. It’s clear to me that blockchain will revolutionize the way we function on the global scale. But many are just now beginning to learn about bBitcoin, and we’re ahead of the curve. Which leads me back to point number 1; we’re still early.

Sorry for rambling on here; I’m sure more veteran HODLers have already X’d out of this post, which is fine. They likely don’t need this information as they have learned these same tips along their own journeys. But for newcomers to the space, I wish I had this foundational knowledge from the get go. Don’t be afraid to ask questions on this sub. With the recent implementation of MOON tokens (this is a whole ‘nother topic), I’ve personally noticed more downvotes than normal. But awareness and understanding is critical to adoption, so don’t be turned off if you don’t get an answer to your questions immediately. There is a wealth of knowledge scattered across the internet, and still a lot of smart people on reddit who are willing to help.



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  1. I’m actually on my way out. I’m selling everything and depositing back into my bank.

    I can’t afford this at this time. I tried though.

  2. I remember posts in December 2017 reminding people to take profits even if it was just to cover your principal. Comment sections always bashed them. “This is just the beginning! We going all the way to moon!” People get real greedy when they wake up every day to raging green dildos. Human nature I guess. As they say in r/wsb, “You don’t go broke taking profits”

  3. I joined late in 2017 and have remain committed since then. These are good notes. Sadly hate to say this, but I’m self aware whats going on in this brain. Every time I zoom out on the charts I get a “gamblers high”…. The build-up is looking so damn sexy.

  4. Good post!

    I would like to remark this: 6. **Don’t be greedy**. If something like End-2017 happens again there will be A LOT of new people here. And if someone tells everyone that it’s a good time to sell at the top of the euphoria he will likely get downvoted as hell. Remember to take some gains because there is no worse feeling that making it and then losing everything.

  5. Defs getting 2017 vibes. I’m in some low cap defi projects, and there are people in there who don’t even understand the basics.

    It’s a little alarming, and probably a lot will get rekt, but I don’t think we are at December levels yet.

  6. Forgot to mention to make sure to deduct taxes from profits to make sure there’s money when the tax man comes knocking.

    It’s getting toward the end of the year, so it’s really important. Some people got royally fucked by the last market plummet and ended up having no money to pay tax on their previous years profits

  7. I would add: don’t overtrade. Lots of stories from 2017 where people jumped from a 100% pump coin to another 100% pump coins, making insane profits and tax debts, only to lose everything in a crash. They were left with like 2000 dollars worth of money with a 100 000 tax debt…

  8. This is an excellent post, I dont think people realize how easy it is to feed into the hype…. then your portfolio is down 35 percent haha.

  9. 2017 was a year of mining hype. 2021 will be a year of staking hype. Touching the 3rd point from the post, don’t risk losing your coins, use the advanced Proof of Stake coins with Cold Staking feature like PIVX so your coins are 100% safely stored offline. Better safe than sorry.

  10. How I know it’s starting to be like those 2016-2017 feels:

    – My screen time has increased and instead of Facebook and TikTok it’s now Reddit/crypto sub and my exchange app.

    – Gaines are becoming extremely more frequent.

    – I’m slowly asking my circle about crypto and their thoughts on it.

    – checking crypto news and market watch for crypto headlines.

    – calculating “What ifs”

    – making a plan to exit out of current coin and buy BTC.

    – moving 6-7 month of holding off ledger to trade and catch dips

  11. I feel the hype but I’ve been feeling it from 2018 since the hopium is always connected to my veins but I want to ask, why does it feel like 2017? What metrics are giving you this indication?

  12. Defi feels like ico. Not the tech but the bubble. Like no one is borrowing money to buy a house using 1.5x the money asking to be borrowed because why would they ask for a loan if they have the money?

    It is used for farming aka ponzi with more buzzwords.

  13. This is really useful thank you, as someone just getting into Crypto is seems so complicated and just as I feel I’m starting to get a grip on things I get blown away by something else.

  14. its nothing like 2017 at all.
    a few manipulative pumps and you think its on a exponential uptrend?
    Just give a week when it gets dumped again and you will end up with yet another Bart head but this time it will be massive.

  15. MetaMask;

    Newbs trading only on their mobile in exchanges like crypto.com and coinbase need to know about this app! Good job plugging it

  16. Diversify and make an exit plan! I’m thinking we push towards ATH in Q2 of next year, but ETH staking and staking in general will really get people that were burnt in 2017 back in the game!

  17. I think one of my worries is, once I decide to sell, will the crypto craze cause for huge delays to get my crypto out of my cold storage and into an exchange like Coinbase or Binance?

    Also need to double check what is the most I can exchange crypto for USD in any given day. I’m assuming just tethering is the safer way to go first if you are trying to lock in profits, then just keep withdrawing from there.

  18. I’ve been in crypto since 2013 and this is definitely something people struggle with. I’ve constantly seen criticism of how everyone knows someone who “lost” a lot of money in crypto. People jump on the hype, put what they can’t afford to lose into crypto, and HODL for a month and cash out paying more in exchange fees than they ever would make in profit.

    Educate yourselves about what you are dumping cash into and try avoid the shitcoin revolution.

  19. My advice is start small, you can just buy the minimum amount in exchanges to try and experiencing it yourself instead of dumping all your money right away.

    Also buy the dips

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Three years ago I was bullied to remove my comment calling caution. This time I don’t care. I caution all the Lambo-moon boyz out there calling this just the beginning and the “Herd is still coming”. This was exactly the same in 2017. Taking little profits won’t hurt you.

It really is 2017 again please don’t fall for this people!