Make 2023 your best year in crypto
What a year this has been for the crypto community! Despite the controversy and challenges that 2022 has brought, the New Year is upon us and we think the future is bright for crypto.
For a fresh start in 2023, we’ve got five crypto resolutions for you to take on this year. Like all resolutions, it’s best not to overcommit, so decide what’s right for you, make a plan, and stick to it.
Here’s the top five crypto resolutions for 2023:
Your keys, your crypto
If 2022 taught us anything, it’s that having control of your private keys is essential.
A custodial wallet is useful, but there’s obviously counterparty risk involved. While a custodial wallet can be useful for using fiat currency to purchase crypto, there’s obviously counterparty risk involved in storing your crypto there.
Using a non-custodial wallet to hold your crypto is more secure, since you control your private keys and hold your seed (recovery) phrase. This means that you can always access your assets, without permission from a third-party.
Here are three security steps you can take today:
First, self custody your crypto by moving it into a non-custodial wallet. With your Blockchain.com Account, you can do this in just a few steps as shown in this article.
Then, set up two factor authentication for all of your accounts. This extra layer of security helps prevent unauthorized logins.
Here’s how you enable 2FA on Blockchain.com:
- Click the person icon in the top right corner.
- Click Security, then click Enable under Two-Factor Authentication.
- Choose your preferred 2FA method and set it up.
On the app:
- Tap the person icon in the top left corner.
- Scroll down to Security and find 2FA.
- Use the toggle switch to enable 2FA.
Finally, use a dedicated password manager to create unique passwords and store them securely.
While we don’t recommend keeping your private keys or recovery phrase in a password manager, they are your best option for account login information.
Take a long-term view
After 11 years in crypto, we’ve seen volatile periods before, and while no one knows what the future holds, we’re confident that crypto is part of it.
One way to take some of the emotion out of things is by using a dollar cost averaging strategy to buy crypto.
Dollar cost averaging is a strategy in which a user periodically purchases an asset, regardless of the asset’s price.
Purchasing in smaller amounts over time means that you’ll buy both when the price is high and when the price is low. In turn, this smooths out your average purchase price.
Learn more in Dollar Cost Averaging, Explained.
Learn something new
The new year is a time for growth, and making learning a habit is a great way to do that.
Whether you read, listen, or watch, there is more information online than ever before that will help you learn the ins and outs of crypto. If you’ve never read the Bitcoin white paper, that could be a great place to start, and resources like Khan Academy offer full courses on crypto–for free.
Did you know that we have a podcast and YouTube channel in addition to our blog?
You can check those out here:
Join a community
If you’re captivated by crypto, consider attending a conference, or joining a community of like-minded people.
There are lots of crypto events coming in 2023, and plenty of meetups and social platforms to learn about more advanced crypto topics.
Be an advocate for crypto
If you’re like most people, you heard about crypto for the first time from someone you know.
Based on our research, most people discover crypto from discussions at the dinner table, the coffee shop, or at work. If you’ve come to believe that crypto is the future of finance, you can help inform others about this exciting world, too.
One way to do this is sharing articles from the Blockchain.com blog and then discussing those with your friends, or even online.
Which of these resolutions are on your list for the new year? Let us know on Twitter!
How to get started
If you want to get started using crypto, the first thing you’ll need to do is create a wallet. Without this, you won’t be able to purchase, store, or swap cryptocurrencies.
Blockchain.com is the only platform that offers a custodial and non-custodial wallet in the same place, which makes managing your crypto that much simpler.
Create your wallet today at Blockchain.com.
Important Note: This information is provided for informational purposes only and is not intended to substitute for obtaining accounting, tax or financial advice from a professional advisor.
The purchase of crypto entails risk. The value of crypto can fluctuate and capital involved in a crypto transaction is subject to market volatility and loss.
Digital currencies are not bank deposits, are not legal tender, and are not backed by the government. Blockchain.com’s products and services are not subject to any governmental or government-backed deposit protection schemes. Legislative and regulatory changes or actions in any jurisdiction in which Blockchain.com’s customers are located may adversely affect the use, transfer, exchange, and value of digital currencies.
Our top 5 crypto resolutions was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.