The cryptocurrency market saw a massive drop in May and is now a bear market. This may seem daunting to new and prospective crypto investors, but there is a “crypto blueprint” that investors can follow to make things a little simpler.

Before investing one’s money, it’s crucial to understand that crypto investors have no protection. One thing to be aware of is a pump and dump scheme, in which scammers urge people to acquire a token, making its value increase and then sell out, causing the price to drop.

If an investor wishes to invest in cryptocurrency later, it may be easier to use major exchanges like CoinBase, Binance, or FTX. It’s simple to transfer money from the user’s bank account into the account once it’s ready.

It’s tough to say what percentage of a portfolio should be comprised of cryptocurrency because there isn’t enough data. The best course of action is to limit the user’s exposure.

Another key concern is that the user must pay taxes on their cryptocurrency. However, they are not required to record cryptocurrency on their tax returns if they do not sell or trade it for another cryptocurrency.

There are ways to learn about crypto without investing in a currency if an investor is unsure about investing completely in cryptocurrency. Buying shares in crypto firms, having a career in crypto, or simply buying tokens to dabble with are all choices.

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