The vast majority of “hot tips” floating around here are designed to drive the tipsters profits rather than help you succeed — pumping a coin they hold or bashing one they’re shorting.

So why does it seem like a lot of you are trusting these random self-proclaimed “experts”? Probably it stems from insecurity, lack of knowledge, or confirmation bias. Ask yourself why someone with foolproof market knowledge, would give it away for free.

The reality is that the crypto market, like any free-trade market, relies on supply and demand and is highly volatile. By listening to every passing rumor, you risk turning your investments into someone else’s get-rich-quick scheme.

Instead focus on making thorough research, sound risk management, setup a plan, filter out the noise and stay in charge of your portfolio and be your own success.

Final advice: Always remember that you don’t realize an actual loss until you sell; prices rise and fall all the time. Panic is a horrible foundation to build decisions upon.

(DYOR — this is not to be considered financial advice — always do your own research.)

Follow for tips on how to put your strategy together, avoid caveats and using information to your advantage.