This checklist covers everything a new crypto user needs to do in their first month. Complete each step before moving to the next.
Week 1: Education
Day 1: Understand the Risks
- I understand I could lose 100% of my investment
- I will only invest money I can afford to lose
- I know crypto is not a get-rich-quick scheme
- I’ve read about the 10% Rule (limit crypto to 5-10% of net worth)
Day 2: Learn the Basics
- I understand what Bitcoin is and why it has value
- I understand blockchain basics
- I know the difference between a wallet and an exchange
- I understand “not your keys, not your coins”
Day 3: Recognize Scams
- I know that nobody will DM me offering free crypto
- I know that no “support agent” will ask for my seed phrase
- I know that guaranteed returns are always scams
- I’ve read about common crypto scams (phishing, fake wallets, pig butchering)
Day 4: Set Up Security
- I’ve created a strong password (use a password manager)
- I’ve enabled 2FA on my email with an authenticator app (not SMS)
- I understand not to screenshot or photograph seed phrases
- I know to keep seed phrases offline (paper only)
Week 2: Setup
Day 5: Choose and Buy
- I’ve chosen an exchange (Coinbase or Kraken recommended)
- I’ve completed KYC verification
- I’ve linked my bank account
- I’ve deposited fiat and bought my first $50-100 of Bitcoin
Day 6: Set Up a Wallet
- I’ve chosen a wallet (hardware wallet recommended for >$1,000)
- I’ve written down my seed phrase on paper (not digitally)
- I’ve stored the paper in a secure, offline location
- I’ve made a test transaction ($5) to confirm everything works
Day 7: Self-Custody
- I’ve withdrawn my crypto from the exchange to my wallet
- I understand why self-custody is important
- I’ve saved my exchange 2FA backup codes
- I’ve verified the test transaction arrived in my wallet
Week 3: Learn
Week 3 Topics
- I understand how to use a blockchain explorer
- I understand what gas fees are and why they vary
- I understand dollar-cost averaging (DCA)
- I understand that bear markets are normal
- I’ve set up a recurring DCA buy ($20-50/week)
Month 2: Expand
Month 2 Checklist
- I’ve learned about Ethereum and smart contracts
- I understand DeFi basics (lending, borrowing, staking)
- I know how to read CoinMarketCap/CoinGecko
- I have a plan for what to do in a bear market (don’t panic sell)
- I’ve joined a crypto community (BitcoinTalk, Reddit)
Security Audit (Monthly)
Print this and check monthly:
- My seed phrase is still safely stored (not lost, not damaged)
- My hardware wallet is functional and PIN is remembered
- My exchange 2FA is working
- No unauthorized transactions in my wallets
- I haven’t installed suspicious browser extensions
Red Flags: If Any of These Happen, Start Over
- My seed phrase was exposed to a screen, camera, or cloud
- I clicked a link from a crypto DM
- I entered my seed phrase on any website
- I shared my private keys with anyone
- I sent crypto to someone I haven’t met in person
The Golden Rules (Print These)
- Never share your seed phrase — No exception, ever
- If someone contacts you first about crypto, it’s a scam
- If it sounds too good to be true, it is
- Not your keys, not your coins
- Don’t invest money you can’t afford to lose
- Wait 24 hours before making any crypto decision
- Test transactions with $1 before sending $1,000
Verdict
This checklist will take you from complete beginner to a confident, secure crypto user. Follow each step in order. Skip nothing. Most beginner mistakes happen because people rush — they buy before they understand security, or they skip the wallet setup.
Take your time. Crypto will still be here next week.
Related: How to Mentor a Friend New to Crypto | What Is Cryptocurrency? Beginner’s Guide | Top Mistakes Beginners Make
Share this checklist with anyone starting crypto. It’s the first week every beginner should have.