1) Never take a loan.

Do not invest in crypto by taking a loan as the crypto market is highly volatile and the markets can turn bearish for months/years. All your plans for paying off your loans early with crypto profits can go for a toss.

2) Invest yourself.

Never ask your friends and relatives to invest on your behalf. Many people give money to their friends and relatives because they do not have time to do their own research.

“Tu mere paise laga dena” is the most dangerous thing in crypto! Stay alert and averse of this statement.

3) Only trade on Indian Exchanges.

Do not create your account on international exchanges as the regulation is still in the grey area. Moreover, it is easier for you to approach the Indian exchanges in case of any issues.

4) Do you have experience in stock trading?

If yes: You can think of crypto trading after some study and research on technical analysis.
If no: Think hard and long before getting into crypto trading, as it is a BIG NO for the beginners. Only start with a goal of investing.

5) Age Factor in mind before investing in crypto:

The younger you are, more risk-taking appetite you have – that being said, always be careful as crypto is highly volatile and there may be irrecoverable losses of funds.

6) Waiting period in crypto.

The minimum time period to get good returns from crypto is 4 years.

It is NOT a get-rich-quick scheme! The technology of most of the crypto is in the early days and many projects are still experiments. They are yet to reach their full potential and need their time for the same.

7) What to invest in?

Start with only Bitcoin by adopting a systematic investment plan. Always invest money that you can afford to lose. Invest more on dips and accumulate.

8) I want to explore more; other than Bitcoin.

Great! While you are invested in Bitcoin, learn thoroughly about:

• Decentralized exchanges
• Metamask
• Defi
• NFT
• Staking
• Lending
• Metaverse

But go very slow in all the emerging tech in crypto. These are still new! DO NOT go all in!

9)Should I Trade or Invest?

Do not trade until you know how to trade! You will lose money without adequate knowledge; as trading without knowledge is gambling.

10)If I make gains then?

Congratulations! First, Pay taxes. Second, store those gains post taxes and buy more bitcoin (with a long-term horizon).

11)Watch out for Ponzi schemes in crypto:

Do not get attracted to Ponzi schemes or some random person promising higher fixed returns. You will lose money for sure!

12) Few more suggestions:

1. Be on Twitter and acquire the right knowledge around crypto from credible and verified sources.
2. Follow: @simplykashif & @bitinning for relevant information.
3. Read The Bitcoin Standard by Saifedean Ammous
4. Visit http://hope.com
5. Bookmark @coingecko @CoinDesk