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How do I start a crypto wallet
(lemmy.ml)
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this post was submitted on 15 Jun 2025
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No Stupid Questions
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No such thing. Ask away!
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I say this as someone who's been involved in cryptocurrency, in some way, for almost a decade: Do not look at it as a source of income. That's my warning.
Most money I've made off crypto was by accepting it as a source of payment for freelance work, and selling when the price went up. I've made only one lucrative investment on a token and it's because the developer team was a friend of a friend, I only spent the money I could easily afford and pulled out early, once it tripled. Don't fall for FOMO, even if you could have made more money.
If you go forward, stick with media put out by the major, legitimate exchanges. They have a lot of information on how to get started.
Stay away from crypto-bro hype schemes, do not buy/trade anything from any project/company that isn't legitimate, with a strong social media presence and a community.
You can make good money off pump schemes if you're in their communities and keep a close watch on what they're doing.
Sign up for airdrops of new tokens and coins, shit you can get for free just by joining/signing up for something. A lot of times it's trash you'll never get rid of, sometimes it's free money.
I've been using metamask as a wallet for years, it's one of the most accessible platforms and has a lot of information and support on how to use it.
For the love of god do not look to NFTs as an investment.
Never, ever, spend money you can't afford to lose.
Keep in mind that pump and dump schemes always consist of someone getting fucked over. Either you’re getting fucked over or you are fucking someone else over. I prefer to avoid those situations.
I guess to a lesser extent, it’s the core of capitalism.
Didn't say Pump and Dump for a reason.
The one I got involved in, I knew the people and it looked like they were legitimately trying to develop a product. It was 50/50 pump scheme/real project, since they never did a rug pull. They were honest with themselves about most investors not giving a shit about their project, who were going to sell high anyway.
Sometimes it's hard to tell if something's going to be a pump-and-dump until they dump.
Fair. I wasn’t criticizing you, mainly just posting that for OP. 🙂
Yeah no worries. Didn't mean to sound defensive. Making sure people know that pumping a coin isn't the same as a pump and dump, and yeah, anyone getting into crypto should definitely know about all the rug-pulls.