Crypto Beginner Survival Guide

I. DYOR (Do Your Own Research).

This is the first and also the most important thing you need to know about investing in crypto.

It is very important to thoroughly do your own research before investing in any cryptocurrencies, including Bitcoin. Crypto is a virtual gold rush; beware of scammers, shills (people promoting (usually) worthless coins for deceptive reasons), pump n' dump schemes, and anything that sounds too good to be true (it usually is).

Reddit has a lot of crypto discussion and is a good place to start your research. I recommend checking out the subreddits such r/cryptocurrency, r/dogecoin, and r/bitcoin when first getting into crypto.

II. Only Invest What You Can Afford To Lose 100%.

There are no guarantees in crypto. Crypto still has a lot of potential for major gains, but it also has the potential for financial devastation.

III. Plan For Your Investment To Be Long-Term (5+ years).

Don't expect to see immediate gains; you may even see losses when you first enter the crypto market. Having a long-term mindset can help you avoid panic selling during dips.

IV. Diversify Between Different Cryptocurrencies.

Don't put all your eggs in one basket. Some good coins to look into as a beginner include Bitcoin, Ethereum, Litecoin, and Dogecoin.

V. Watch Out For Scammers.

Scammers are abundant in crypto. Be especially wary of anything involving "lending platforms" or that has "connect" in the name. Google "BitConnect" to read an example (a huge crypto Ponzi scheme that collapsed at the beginning of 2018).

VI. Expect Extreme Price Volatility.

10%, 20%, ++% daily changes are a common occurrence in crypto. You'll get used to it after the first few dips/"crashes" :)

VII. 1Ð = 1Ð

1Ð = 1Ð is one of many common crypto sayings/terms. 1Ð = 1Ð means that no matter what the value of 1Ð (Dogecoin) is to USD, the value of 1Ð (Dogecoin) to 1Ð (Dogecoin) will always stay the same. 1Ð = 1Ð.

Some other common crypto sayings/terms include: to the moon, lambos, hodl (it means don't panic sell; the misspelling came from a drunk online poster in 2013 who was telling people not to sell their Bitcoins), bear market (markets are down), bull market (markets are up), Doge (the best meme there is, which gave rise to the Dogecoin cryptocurrency in 2013).