You may loss your crypto assets if you have done this.
There are various ways you one can benefit from the crypto space.
One way or the other we found our way into this digital economy.
Depending on who invited you or if you found your way here by yourself there are a few things you should consider not doing if you want to remain in the space for long and not loss your assets .
- Putting all your crypto investment into one token.
This is one of the easiest things we do as a crypto newbie or an adult neglecting a fair advice. After one gets an invite to join the space and most likely bought a large chunk of the most performing token at the time, it becomes really easy to loss it all if there is a crash of that token or its blockchain.
Those who might have lost huge amount in the Luna crash must have put almost all their assets in that single token.
A few may recover from the shock much quickly if only about 10-30percent of their assets was involved.
Imagine if one was recently invited to the then steemit and has bought a huge chunk to stake only before the hardfork and there is no transfer of funds to hive, that will be a huge loss for any one staking steemit at the time and even though the blockchain is still in existence we all know that it hasn't performed better than hive ever since.
In essence after joining a crypto space make some quality research and diversify your assets into various forms.
Hive has made diversification much easy and within the blockchain alone you can find several quality crypto projects to invest in. The Hive token itself and other layer two tokens. There is also the cubdefi and other games project one can invest in their tokens.
- Make Sure to own some bitcoin and some stable coins.
The easiest of tokens to own is bitcoin and unless the whole crypto space is collapsing the mother of crypto will still be standing.
A little conversation of some tokens to bitcoin will be a good move.
Keeping stable coins helps you to enter and exit the market at will, providing room for one to buy or dump a token when the need arises.
- Consider refusing to buy the hype.
Too many times we have thousands of crypto analyst on the internet and the push to buy the tokens they hype is always there. Some are always ready to buy a the latest crypto listing even if they are meme coins that could be washed down the drain the next day.
- Share your Keys/Mobile device or Apps containing vital informations with friends.
This is one of the easiest ways you can loss your crypto assets.
You never can tell who is watching you. Any one may under the disguise of a one minuit call transfer and steal all your crypto assets.
Do on can be trusted with your keys, be blood related relations i.e anyone can get greedy with money.
The mobile devices and PC containing your assets should be accessible only to you alone.
The crypto space is a very wide one with alot of Dos and Don't, Learning the right thing is vital. Be ready to take responsibility for your actions and remember that all the above is not a financial advice but a pointer to how anyone can loss their assets easily in the crypto space.