What are the major tools needed to become crypto savvy?

[Muhammad Bashir]

I've been meaning to ask this question all along because lots of people have got different views on what is needed to be actively involved in crypto. Here are some of these tools mentioned:

1. Basic crypto knowledge
2. A reputable CEX for trading
3. A secure wallet for storage and other DeFi trades
4. A twitter account/ following verified crypto handles
5. A crypto mentor

Which of these do you think is not necessary or what else should be added as per basic tools?
Feel free to join the conversation...

[bayu7adi]

Number 1 is the most important
Then number 5 can become a necessity when you already know the basics about crypto
Numbers 2 and 3 are next
Number 4 is not really needed as long as you have a more trusted mentor. It's hard to believe what is posted on social media.

[MrSpasybo]

I've been meaning to ask this question all along because lots of people have got different views on what is needed to be actively involved in crypto. Here are some of these tools mentioned:

1. Basic crypto knowledge
2. A reputable CEX for trading
3. A secure wallet for storage and other DeFi trades
4. A twitter account/ following verified crypto handles
5. A crypto mentor

Which of these do you think is not necessary or what else should be added as per basic tools?
Feel free to join the conversation...

Everything depends on your individual goals in the market. You don't need a paraglider if you just want to be an office worker ^^

From what I understand, you are talking about the most essential things to become a professional investor in the crypto market. I agree with what you have listed, but I think there is one thing more important than all: the ability to manage capital and psychology.

We use capital (including time and money) to generate profits in the crypto market. We interact with the market through buying and selling behaviors, which are determined by our psychology. Managing capital and psychology will be extremely necessary, especially when we have a large amount of capital and live in an atmosphere full of FOMO 

[MUGNIA]

In my opinion, the most important thing is basic knowledge of what crypto is, you must first learn what the functions and advantages of each project you will invest in are, because there will be lots of coins that we encounter out there, we are obliged to select which ones are good and bad (not potentially ), if we do our research wrong, losses will be in front of us

[Charles-Tim]

1. Basic crypto knowledge
2. A reputable CEX for trading
3. A secure wallet for storage and other DeFi trades
4. A twitter account/ following verified crypto handles
5. A crypto mentor

Basic crypto know will only drive the new traders to lose. They can not just avoid the newbie losses of trading. So having much knowledge and months of experience is very important.

Risk management is very important. Trade with money that you know you can lose.

Why referring to DeFi trades? That is not needed to be mentioned as trading is beyond DeFi trades.

Twitter is not only what is needed for fundamental analysis.

Be careful in the process you are looking for a mentor because it can be a scammer.

[Mr. Magkaisa]

I've been meaning to ask this question all along because lots of people have got different views on what is needed to be actively involved in crypto. Here are some of these tools mentioned:

1. Basic crypto knowledge
2. A reputable CEX for trading
3. A secure wallet for storage and other DeFi trades
4. A twitter account/ following verified crypto handles
5. A crypto mentor

Which of these do you think is not necessary or what else should be added as per basic tools?
Feel free to join the conversation...

            -   The numbers 1-3 are fine as long as you don't forget to always start with the basics. That's enough, because if you always start with the basics, you don't realize that what you've learned is no longer basic but with the eyes. of others, your knowledge of trading here in the crypto space is extensive.

And it is also important that the exchange that you will do trading activity on is reputable. Even in the safe wallets that you hide crypto assets in, we must also know that whether it is Bitcoin or a crypto wallet, we must know the non-custodial wallets that are safe and the hardware wallets that are also recommended to use.

[Baofeng]

I've been meaning to ask this question all along because lots of people have got different views on what is needed to be actively involved in crypto. Here are some of these tools mentioned:

1. Basic crypto knowledge
2. A reputable CEX for trading
3. A secure wallet for storage and other DeFi trades
4. A twitter account/ following verified crypto handles
5. A crypto mentor

Which of these do you think is not necessary or what else should be added as per basic tools?
Feel free to join the conversation...

I'm not really sure of mentoring, maybe you can do copy trading, but for me, it's better to be just a one man band. I don't know maybe that's how I started and I really learn it by myself without anyone telling me what to do. Of course it will be very hard, but that's why I wanted, it's like no pain no gain. So I'm willing to go on that route myself.

Also, #4? Follow verified crypto handles? maybe some CEX official account but that's it. No crypto trader for me. Again, it boils down to you, yourself and becoming a successful trader without any outside influence.

[Faisal2202]

1. Basic crypto knowledge

You should have explained this point a little bit more, like what types of definitions a person should memorize or read, to what extent a knowledge of crypto is declared as basic. So that things would remain easy for the newbies. For example, knowledge of seed phrases, what are they, our funds are not stored on wallet but on seed phrase, how to recover, etc. custodial and non-custodial wallet, etc. difference b/w CEXs and DEXs, what's swap and bridging, etc. and there is more I can add to this list. Actually I am working on the same kind of post, will bring it here soon.

3. A secure wallet for storage and other DeFi trades

What makes a wallet secure, user's action and secure network. There is more on the list but these two would be enough. Well, a user of wallet should know what kind of scam occur in cryptosphere that's the only way to avoid all of them. So for that proper knowledge of the past scams, and the updates on them are necessary for the user to know.

Which of these do you think is not necessary or what else should be added as per basic tools?
Feel free to join the conversation...

I don't think a mentor is that necessary in crypto because after learning all the above points you mentioned a person might not need a mentor. All he need a community where he/she can share his/her Q&A.

[$crypto$]

In my opinion, the most important thing is basic knowledge of what crypto is, you must first learn what the functions and advantages of each project you will invest in are, because there will be lots of coins that we encounter out there, we are obliged to select which ones are good and bad (not potentially ), if we do our research wrong, losses will be in front of us

Knowledge is always the main thing, because it is the basis for us to do something. and knowledge about crypto becomes very broad because it covers all aspects of it.

This is the first thing we have to do, namely deepen our knowledge. I think if we are fully aware of the knowledge then it will make our steps easier in the future. So knowledge is the first thing we have to learn. As I said, that is the main capital for us.

[Jating]

I've been meaning to ask this question all along because lots of people have got different views on what is needed to be actively involved in crypto. Here are some of these tools mentioned:

1. Basic crypto knowledge

How do you define crypto savvy though? I mean you can just be a investors, and be like buying crypto in dip or in a bear market and hold it for years and make money. So there's nothing savvy about it, but a strategy of kept it simple and don't complicate things in your end. Or just stay in the market, and learn thru experience. And I think the best advise understand the risk involved. You can go and uses a good exchange but if you don't know to mitigate risk, then you might not enjoy your stay here as this market is very volatile and not friendly for newbie traders.

[Doovla]

I think it is achievable without the fifth step. I took the rest into account and I have good positions on the market regarding staking on large annual percentages, you can also find help by contacting the user or the seller as well as the buyer of your coins at better prices than on the market.