10 Quick tips about the cryptocurrency market

Most coins, and I mean 99% of them, are scams.

Just because a coin has a white paper and a cool logo, it doesn't mean they are working or going to work on a product.

Trading cryptocurrencies is straight-out gambling.

If you are getting tips for pumps then you are participating in scams. Someone else is going to lose money in order for you to gain aka zero sum game.

You can't time the market.

Most likely, you won't be able to control your emotions. When it is green you will get greedy and not sell and when it is red you will panic and sell low.

Hodl is just a meme. Hindsight 20/20 is the actual tip here. Only after everything plays out you will be able to create a narrative that fulfills your superstition.

The entire market is controlled by a handful of people and their surrogate accounts. This is equally true for Wall Street, Bitcoin and Steemit. The distribution of wealth always works like that. This is also why capitalism is antifragile to any other system. Human greed, from the lowly poorfag to the top tier whale works much the same.

There are always greater fools to buy something from you. Until there are not any. Then, you are the last one holding the bags.

Cryptocurrencies move about 10x faster than regular markets. Cycles are extremely fast. Most experts get in and out based on the connections they have with the exchanges. When you will want to cash out, most likely, you won't be able. 90% of coins have no liquidity. Don't get fooled.