Orbital Alpha #3 — Cyber Security
Welcome to the third episode of Orbital Alpha — Cyber Security. We all witnessed some harsh times, together, as a community, as a team, as an investor, and as a family.
PSY Network took a deep hit in the past weeks, a big portion of the team took a step back, our assets depreciated in value and we all felt paralyzed to some extent. Who would we be if we wouldn’t use that time to harden our core, learn from our mistakes and continue to grind?
Exactly, not PSY Network. These are common happenings, especially in Crypto and we did our homework. We partnered with the amazing Cyber Frogs and are going to tackle the future with new and exciting creations.
No hype. No bullshit. Reality. Reflected reality.
Probably the most important topic in crypto and regarding investments in general. It is easy to get caught up in a sheer whirlwind of fomo while look at the profits or portfolio size of others. Never forget: Not everything displayed is the truth, it is just a number and percentages always work better than hard numbers. Everyone earns a different sum of money, lives in a different region, and has different expenses.
DCA into crypto and know your allocations — 10% of your monthly income are more than enough to be exposed properly. Being all-in on one blockchain and NFT’s probably is too much. A recommended measure is splitting your portfolio into more than one blockchain and your holdings to less than half of them towards NFT’s.
Yes, all of this is exciting and everyone projects benefit from the amazing support of their communities but being liquid and having cash/crypto ready in case drastic changes occur provide ease of mind at all times.
An example could look like this:
- 40% NFT’s
- 40% Cryptocurrencies
- 10% Cash and Stablecoins
- 10% Defi / Passive income due to yield
- DCA 10% of your monthly income into Crypto
- Rotation rule of thumb: deploy 1/3 of your crypto profits into NFT’s, Stablecoins, and Cryptocurrency each
Think in % not hard numbers:
One of the easiest ways to get caught up in the rain is to measure your own capital and profits with posts or statements of influencers or “big boys” since
a) most of those claims just aim to soak people into a sort of paid group
b) liers and scammers love to face numbers to being able to brag
c) every person has a different background and start
Those are just 3 examples of why you should NEVER compare yourself with the PNL and numbers of other people. Therefore I advise you to measure the risk you can take regarding your investment portfolio in %-age allocations.
Find yourself a formula that includes your annual salary, debt, passive income, rent, ongoing payments, holiday, and extra expenses.
Besides preserving your capital itself and categorizing your portfolio into different parts of crypto, be sure to update your cyber security right now:
- Buy yourself a Ledger to store your crypto and NFT’s in cold storage to prevent yourself from getting hacked: >Ledger.com<
- Never buy a device like that used or refurbished
- Use the Brave Browser for cyber security and crypto compatibility
- Create your own Browser profile solely for Crypto
- Use Phantom Wallet for Solana and Metamask for Ethereum/BSC/Polygon/Cronos Blockchain
- Use different Wallets for your HODL stack, a unique wallet only for trading, and always a burner wallet for minting
- Take a day off on the weekend solely for changing all your passwords from all different accounts on Web 2 and Web 3 you got
- Revoke permission for all websites and services connected to your wallet
- Leave Discords you are not active in anymore
- Double Check Website URL’s all the time you access them
- double, triple, quadruple check wallet addresses every time you send money to them and send a test tx beforehand
- If you get coins or NFT’s airdropped into your wallet without knowing about the project — create a new wallet and transfer your holdings
- Never click on ANY links someone sends you in a DM
- Never save any password or seed phrases on Cloud services
- Backup your data onto external drives and set up your computer freshly every now and then
Of course, the list goes on and on but this already is a lot of homework to do and we are going to enlighten you with more Alpha and information in the future as well.
Until then, stay safe PSYchonauts, and be sure that our team is expanding and working around the clock in order to lift PSY Network to old glory.