If you're thinking about "investing" money into bitcoin, especially now that it's basically a fire sale. Here's a list of things that I'd really recommend you to do respectively avoid to do.

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  • DCA into bitcoin on regular basis (e. g. $25 per week or anything you can afford, regardless of the current price).

  • Don't put in more than you can afford to lose.

  • Stay far away from altcoins, you'll lose money.

  • Don't try to time the market by trading bitcoin, you'll lose money.

  • Get familiar with using a hardware wallet like Coldcard, Trezor, Bitbox2 or Keystone.

  • Never store you funds on exchanges, but move them to the said hardware wallet.

  • Get familiar with the passphrase ("25th word") feature and setup it up once you got how it works.

  • Accumulate and hodl for at least 5 years, 10 years still better.

  • Learn about bitcoin as much as you can, starting at Jameson Lopp's great website about Bitcoin.

  • Don't tell anyone about the amount you hodl.

  • Always stick to the virtues that bitcoin teaches, namely modesty and patience.

  • Enjoy the rollercoaster.

submitted by /u/castorfromtheva
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