Base

Positioning yourself for success in the crypto industry requires extensive knowledge, regardless of whether you're a newcomer or an OG. 

I've compiled a set of tips to help you navigate this space profitably:

Let's get in 👇

🟣 • Investment Strategies:

➻• Avoid investing in forked projects, as very few ever outperform the original protocol. Don't chase mirages and risk getting burnt.

➻• Only allocate funds to projects you fully comprehend. Blindly investing in concepts you don't understand is unwise.

🟣 • Token Evaluation:

➻• Every bull run brings new hype stories promoting tokens. While you may choose to invest, don't blindly buy into the hype itself. Know when to take profits.

➻• Beware of greed – failing to set profit-taking and stop-loss levels can lead to unrealized gains

➻ Approach projects that heavily rely on buzzwords with caution and conduct thorough research before investing.

➻ Tokens with numerous advertised use cases tend to underperform, so choose your investments carefully.

🟣 • Industry Insights:

➻ Venture capital announcements are often marketing ploys aimed at generating hype for a new token launch. Don't blindly buy into the hype.

➻ The best airdrops frequently come from unexpected sources. Explore unique dApps, but use a burner wallet to maintain security.

➻ Diversification is also key – don't let emotions alone dictate your investment decisions.

➻ Embrace market volatility instead of being shaken by it. Smart money capitalizes on such swings.

🟣 • Security Measures:

➻• Frequently revoke permissions when interacting with different smart contracts. Utilize tools like RevokeCash to enhance your digital security.

➻• If you have a long-term bullish outlook on a coin/token, consider holding it rather than engaging in high-APY yield farming, where impermanent loss can severely impact your holdings.

➻• Employ a hot wallet for experimental trades and dApp testing, but secure your primary assets in a hardware or multi-signature wallet.

➻• Avoid interacting with your wallet when tired or distracted to prevent costly mistakes.

🟣 • Yield Farming Considerations:

➻• Steer clear of yield farms with lockup periods, as the ability to withdraw liquidity at any time is important.