In 2021, my journey into the captivating realm of cryptocurrency began, fueled by the enticing prospect of turning investments into substantial profits. The buzz around individuals reaping substantial gains from their crypto ventures heightened my eagerness to jump in immediately.
The allure of stashing away funds for a few months and witnessing them soar was undeniably thrilling, but my lack of experience was a significant hurdle. I found myself clueless about the intricacies of buying or selling crypto, adding a layer of complexity to my aspirations.
Here, I share five indispensable tips for crypto novices:
1. Master the Fundamentals: Initially, delving into crypto articles felt like a daunting task. While I had a vague awareness of Bitcoin, deciphering which coins held potential eluded me. A foundational understanding of crypto essentials, such as total supply, altcoins, trading volume, chart patterns, and candlesticks, proved crucial. Knowing how to navigate exchanges for buying and selling became a game-changer.
2. Stay Informed with Crypto News: The dynamic nature of the crypto space means that news can significantly impact asset prices. Regularly consuming articles and content about ongoing developments in the crypto world serves as a reliable indicator for strategic buying or selling decisions. Positive news can propel prices upward, while negative developments may trigger a downturn.
3. Risk-Averse Investing: The cardinal rule of investing only what one can afford to lose cannot be overstated. Opting for a cautious approach by dedicating a modest portion of savings allows for gradual portfolio growth while minimizing potential setbacks. Steering clear of borrowed capital ensures a more secure and measured investment journey.
4. Avoid the Cheap Coins Trap: The notion that astronomical wealth can be amassed by investing in dirt-cheap coins is a rare occurrence. While low-priced coins might seem enticing, focusing on comprehensive research into low market cap projects proves more beneficial than fixating solely on price tags. Value lies in potential, not just affordability.
5. Secure Your Profits: Watching your initial $100 investment soar to $3000 is exhilarating, but realizing those profits requires decisive action. Until profits are withdrawn and either converted to fiat or securely stored in your wallet, the potential wealth remains speculative. Avoid the pitfall of becoming the one who could have been rich if only they had capitalized on peak prices.
Embark on this crypto journey with me for more enthralling insights into the ever-evolving world of cryptocurrency. 🚀💰

Not with $BTC, $ETH, $MATIC, $SOL, or $AVAX. But with the couple of tips I'm sharing with you now
First and foremost, never invest more than you can afford to lose. I know it sounds corny, but trust me, it's true. While you're learning, there will be times when you'll get rugged, but it's ok. If 2 out of 10 hits a 10x and the rest fail, you'll still be up 2x your money.
If you have a net worth of only $1k, it's difficult to afford gas on Ethereum. In that case, I would recommend focusing on alternative ecosystems like $SOL, $ARB, or $AVAX.
With a small portfolio, it's best not to go full degen just yet. Instead, concentrate on micro caps within your preferred ecosystem with a mcap below $20M
Make sure to do your due diligence to ensure the team is safe and keep an eye out for upcoming bullish catalysts that could positively affect the price.
Depending on your level of conviction in these plays, I'd be looking for quick returns of up to 50%. But remember, it's not a strict rule and depends on various factors. So trust your judgment too.
Finding these plays can be challenging. So, it's a good idea to connect with a group of like-minded degens who are also grinding within your specific ecosystem. These groups can be instrumental in helping you learn and bringing your attention to opportunities that may have otherwise gone unnoticed due to the vast and fast-paced nature of this space.
I recommend sticking with the above method until your portfolio reaches a high 4 figs amount. Once you're approaching the $10k milestone, you can start exploring Ethereum. The potential gains from your initial investment will outweigh the gas fees if you make wise decisions.
DYOR and establish suitable due diligence criteria that work for you. Your conviction can determine how long you hold, but when your portfolio is small, aim for 2-3x gains.
When considering this 2-3x ROI, it's important to keep in mind any taxes, slippage, and gas fees associated with your purchase and sale. Keeping a trade journal in Excel could be a useful way to track these factors.
Etherscan allows you to track the source of funds, identify the wallet of the contract creator, view token holders and their other holdings, analyze the coin distribution, find socials within the contract, and check if the liquidity is locked.
If you come across something that catches your attention, take a moment to review the contract on Etherscan. Pay attention to the following details: ➬ Check if the contract is verified (look for a green tick next to the contract). ➬ Check if liquidity is locked.
➬ Investigate the source of funds. ➬ Find out if ownership has been renounced. ➬ Look into the distribution of tokens. ➬ Analyze the top holders and their other investments. ➬ Check the taxes. ➬ Examine the dev wallet.
Here are some other actions to look out for: ➬ Adding liquidity: How much and whether it is sufficient. ➬ Setting max wallet or tx limits: Make sure you are trying to buy within these parameters.
Stay tuned for more details
Source: Ardizor