Frankkie
@frankkinova
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A short thread what's the safest way to trade degen
Trading "degen" (high-risk, speculative crypto assets) is inherently risky, but here’s a short thread on the safest approach:
1. **Research Thoroughly**: Vet projects for legitimacy—check team, whitepaper, community, and audits. Avoid hype-driven coins with no substance.
2. **Use Small Capital**: Only risk what you can afford to lose. Allocate a tiny portion (e.g., 1-5%) of your portfolio to degen trades.
3. **Secure Platforms**: Trade on reputable DEXs or CEXs with strong security. Enable 2FA, use hardware wallets, and avoid sketchy platforms.
4. **Set Strict Rules**: Use stop-losses, take profits early, and avoid FOMO. Have an exit plan before entering.
5. **Stay Skeptical**: Most degen projects fail. Assume scams until proven otherwise and diversify to spread risk.
No method is foolproof—degen trading is gambling. Stay disciplined and cautious. 2 replies
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