As a more advanced, experienced, and sophisticated crypto investor I say take a second mortgage on your house and go all in on dickbutt69inu.
For BTC you can't go wrong with Electrum. It's a great wallet.
Faucets are dead, we're almost two decades ahead of that now.
Never give your seed phrase to anyone. No websites. Nothing.
Keep a clean computer for crypto if you're dealing with large amounts of money. Ideally this computer is never connected to the internet, ever. You'll want to transfer a signature and publish it from another computer if you care a lot about avoiding any virus risks because there's a lot of them out there. Even tons of fake electrum sites to give you a backdoored wallet. Keep encrypted backups in multiple locations. You do not want to lose access to your money due to hardware failure or home fire.
Assume that everything you do is being tracked somewhere forever similar to any credit card spending. The data is out there, if you become a person of interest (drug dealer, blackmailer, ransomware) they will look at it.
Don't do crime, especially don't do crime if you don't know what you are doing.
A varied portfolio for the average person who wants to take some risk, but also secure likely gains would go 80% safe and 20% risk-on. In crypto you're technically entirely in risk-on assets, but the same principle mostly applies. If you want to gamble large amounts in crypto, BTC is where it's at. A 5x on $1 million is a lot better than a 100x on $1000, and you wouldn't chuck large sums at the riskiest dumbest gambles. Anyone experienced who buys large amounts of BTC should also throw a percentage of their portfolio into higher risk assets for greater gains though.
If you have millions of dollars, definitely don't go all in on crypto. Keep a stock portfolio as well. If you have only $1000, just chuck it at something retarded. I invested a few thousand dollars in a risky gamble a few years ago and it paid of big time and I secured my gains in a place to live. I would have never gambled a million on it though, but I would be okay with chucking a sum like that on Bitcoin during a bear market as long as I have something else to lean on so that I don't cry myself to sleep if I lose it.
I just chuck a few thousand at some shitcoins here and there while waiting for the market to go insane again.
>>4
Don't forget that the news often lies when there's economy involved.
They want you to sell before the rebound, and they want you to buy before the crash. One must always make their own decisions in finance and never rely on anyone else.
As I'm sure you know, but many others may not, always read between the lines. A prognosis can turn around, but by then the price will already have been bought/sold by insiders. One must always frontrun the new prognosis by making better predictions than what is being fed to the public.
>>3
Once you become experienced enough you can tell which scam you can likely earn money on before it pumps and dumps. They're terrible for long term investments though.