Fiat is relevant to cryptocurrency because fiat is the currency we are forced to use to live.

Mostly, we need fiat for buying groceries, paying taxes etc. There are a small number of places allowing crypto payments for goods and services, but they are a tiny section of the economy.

If you are investing in cryptocurrency to HODL for the future adoption on a global scale, then fiat is only a general benchmark (people will still need paying a livable wage to provide goods and services)

If you are investing to make a profit in "now" terms, then you have to equate crypto value to fiat worth, because fiat is the only option for using that profit.

It is really unfortunate that something as revolutionary as cryptocurrency is being used by sick people for their own personal gains and giving it a bad reputation.

Whenever there is something new, there will always be someone to take advantage of the weak links. Yes, crypto is revolutionary, but show me a revolution when there weren't fringe groups making a profit from upheaval and playing both sides.

It might be a digital revolution, but we are still human, and part of the human condition is that there will always be people who lie, cheat, and steal - maybe we can turn it all over to the AIs?

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Important Things to Know Before Buying Cryptocurrency

I’m going to make this as easy as possible for you guys, but before we get started, I want to share with you three important things you need to know before transforming some of your wealth into digital assets.

1. You Need to Learn How to Protect Your Cryptocurrency

Number one, these types of investments are not like anything else you may be familiar with. Unlike banks, credit unions, and traditional stock exchanges, there are virtually no fail safes in place to protect you if you make a mistake or don’t understand what you’re doing.

There is no hotline you can call when you get stuck, there’s no corporate headquarters you can reach out to if you lose your funds, there are no FDIC insured banks behind these investments – this means at anytime you could lose all of your investments from hackers or user error with no recourse at all.

2. Choose and Stick to the Amount You Want to Invest in Cryptocurrency

The second thing you need to know before we go any further is the golden rule of investing:

NEVER invest more than you can afford to lose.

High risk can lead high reward and we humans have a natural tendency to want to overreach. But you need to figure out an amount you are comfortable investing and, more importantly, an amount you can truly afford to invest – then you need to stick with that amount and be patient in the process.

3. NEVER Leave Cryptocurrency on Exchanges – Set Up Corresponding Wallets

The third thing you need to do before buying different altcoins on exchanges is set up corresponding wallets that support the specific cryptocurrency you wish to buy.

Never leave your crypto on exchanges. It’s dangerous and risky because exchanges are targets for hackers, and sometimes exchanges start imposing rules and regulations that make it difficult to manage your funds.

Research to Find Trusted, Secure Wallets for Your Type of Altcoins

So make sure you do your research and due diligence about the wallets for the cryptocurrencies you want to invest in before purchasing them on an exchange.

References:
https://www.cryptocasey.com

I would like to add one:

Understand WHY you are entering the crypto market. So many new people have joined the crypto world out of curiosity, a desire to "get rich quick". Or an ill-informed conviction that crypto is the answer to "life, the universe, and everything". Even experienced traders that have made the leap from stocks/shares/forex can find the transition difficult to navigate. 

I can think of several reasons to enter the market:


Investment for the future
Investing in a monetary structure that will (maybe) replace the existing fiat one.
Speculation - Trading on short or long-term price movements.
Conviction of "to the moon" (
Get rich quick

The first three are valid, they just require a lot of research, if you think for one minute that the bottom two are good reasons to enter the market - stop yourself.