As we enter 2024, the recent market trends have attracted many newcomers to the Web3 and crypto landscape. While the idea of getting into crypto in 2024 might be daunting for first-timers, it’s one filled with opportunities and exciting technology. Today, we will share some tips on navigating the Web3 and crypto world.

Learning About the Crypto Space

As you do with learning anything for the first time, you start by informing and equipping yourself with more knowledge. Doing your own research (DYOR) is one of the fundamental basics for participating in this space. From learning the basics about blockchain technology to understanding the pros and cons behind every cryptocurrency, education is a massive part of getting into crypto. Here are some tips for learning more about this space:

Read, Watch, or Listen to Educational Content: The easiest way to start dipping your toe into the space is by reading relevant information or listening to experienced users share their knowledge. Most veterans will advise against jumping into crypto without doing a fair amount of homework. Our very own Thunder Academy is a great resource for learning about different aspects of blockchain, ranging from what nodes are to the different layers of blockchain. Other exchanges and websites also offer similar educational resources that can be great starting points (Ones like Binance Academy or various crypto content creators)!

Look for Multiple Perspectives or Sources: A lot of the information, especially surrounding specific cryptocurrencies, can be very biased. It’s a good idea to search for different perspectives and sources to make your own judgment. Even for basic things like the different advantages of blockchain technology, it’s good to read through multiple sources or articles as each one may have something new to add to the topic. Crypto and blockchain, being a relatively new industry, will constantly see new information surface. The amount of content surrounding crypto in recent years is staggeringly titanic, so it’s easy to find multiple takes on the same topic!

Stay Updated: Stay Updated: Start reading and keep on reading. New blockchain technology or trends surface constantly, and it’s easy to fall behind in keeping up with it all. Pick a few news outlets and blogs that are consistent with pumping out new content and stay up to date with market trends and breakthroughs in the Web3 world. The crypto space moves extremely fast, and you don’t want to get left behind.

Dipping Your Toe in Trading

Once you are sufficiently equipped with knowledge about the space, you can start looking into dipping your toe into trading cryptocurrency. Note that trading crypto, like trading anything else, will have risks, so it’s vital to stay cautious and continue to DYOR.

Pick an Exchange: One of the first things to do when getting into trading crypto, aside from gaining knowledge, is to pick an exchange and make an account. Exchanges are where you’ll be trading, and different exchanges often have varying pros and cons. A couple of tips for picking exchanges include picking a know-your-customer (KYC) exchange for more transparency or to utilize multiple exchanges to spread your assets and reduce risk.

Pick a Couple of Cryptocurrencies: Once your account is set up, the next obvious step is to pick a couple of cryptocurrencies and start your journey. $TT for ThunderCore has seen consistent growth (Noting over 50% growth over 2023) and is always a good choice. Others like $BTC and $ETH are popular crypto for first-timers as they are less likely to fall out of relevancy and make up for a massive percentage of the entire market. Pick your cryptos and continue following up on their news, roadmap, and development.

Pick a Personalized Strategy: One of the toughest parts of crypto trading is picking a strategy and sticking to it. This includes setting points for when you want to buy or sell your asset. Strategies like DCAing are great as they leave a lot of the “emotionally inspired” part of crypto investing out of the equation. Some people might prefer long-term investing and just holding infinitely, and others might want the thrill of chasing the buy-and-sell. The key to finding the best strategy for you is to identify your goal, do some research, and then adjust accordingly.

Consider a Wallet: Once you have invested a good amount into crypto, the concern surrounding the safety of keeping assets on crypto exchanges will undoubtedly arise. This is a topic that’s highly debatable as the pros and cons of keeping assets on exchanges vary. Other options include using software wallets or, to go even further, using a hardware wallet and having your assets offline.

Staying Safe and Secure

Most crypto enthusiasts will have heard of crypto hacks or people getting scammed, and this highlights the need for newcomers to stay cautious, safe, and secure. While different exchanges or networks will have varying guarantees for safety, the key to it all is still in user execution. Here are some tips for staying safe and secure in this space:

Use a Separate Email: Use a unique email for your crypto account that’s not used anywhere else. This is to ensure that any hacks elsewhere will not affect your crypto account.

Don’t Click on Links: Malicious links can often be the downfall of one’s crypto investments. When dealing with the crypto world, avoid any links on sketchy websites or sent by strangers (even those sent by those you know can be malicious). Do the safe thing and just don’t click on random links and buttons.

Use Wallets, 2FA, and Safe Passwords: As mentioned earlier, having a wallet can help increase security. A software wallet is good, but anything on your device can still be susceptible to problems like Trojans and viruses. A hardware wallet is better as keeping things offline is possibly the safest way to secure your holdings. Having 2-factor authentication (2FA) is another security measure, and having unique passwords (Often managed by password managers) can also enhance that even further.

Keep Your Key Safe: Don’t keep your key phrase on the internet or your device. With wallets, you will have a key phrase, and the current best solution is to write it down and keep it somewhere safe (Like in a safe). Anyone who knows the key phrase can ruin your holdings in seconds. 

These are only some of the many tips out there! Look around, and see what crypto veterans are doing, and remember to always DYOR!

About ThunderCore

​​ThunderCore is an EVM-compatible blockchain featuring a breakthrough consensus protocol, PaLa, allowing lightning-fast efficiency. With users in more than 100 countries, this blockchain emphasizes a growing global reach. ThunderCore offers a native currency, TT, and nurtures an innovative ecosystem within the TT Wallet mobile app.

What’s Next?

As part of our initiative to welcome newcomers into the space, we will be talking about more topics like what wallets are and the different kinds of wallets as well as strategies like DCAing. Watch out for more from Thunder Academy, and feel free to read up on our Thunder Buzz articles as well!

Disclaimer

Tips offered in this article are not and should not be treated as financial or business advice. Please proceed with any financial actions at your own risk.