Last updated: 21 mars 2026
This checklist covers the knowledge and practical experience a finance professional needs before treating crypto as a serious allocation. It is not a theoretical exam — roughly half the checkpoints require you to have done something, not just read about it.
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✓ Completed — you have covered the fundamentals of crypto from a TradFi perspective.
1 — Market Structure & Cycles
✓
You have studied Bitcoin’s 4-year halving cycle and can explain why supply shocks create cyclical price patterns.
Each halving cuts new BTC issuance in half — historically followed by a bull run 12–18 months later.
✓
You understand what Bitcoin dominance is and can interpret what a falling dominance reading typically signals.
Dominance = BTC market cap / total crypto market cap. Falling dominance often signals capital rotating into altcoins.
✓
You can distinguish between a bull market rally, an altcoin season and a dead cat bounce — and explain the on-chain signals that differentiate them.
2 — Instruments & Mechanics
✓
You understand how a perpetual futures contract works — including the funding rate mechanism that keeps it anchored to spot price.
✓
You can calculate the approximate liquidation price of a leveraged position given entry price, leverage and margin.
At 10x leverage with no additional margin, a 10% adverse move liquidates your position.
✓
You understand the difference between spot trading, perpetual futures and options in crypto — and when each instrument is appropriate.
3 — Valuation & Data
✓
You understand market cap, fully diluted valuation (FDV) and circulating supply — and why a low market cap with high FDV is a red flag. See: Crypto Pitfalls →
✓
You have used CoinGecko to research a token — checking its supply schedule, exchange listings, top holders and historical volume.
✓
You understand what a token unlock schedule is and have checked one before making an investment decision.
Large unlocks — when early investors or team tokens become sellable — are one of the most common causes of sharp price drops.
✓
You understand why X (formerly Twitter) plays an outsized role in crypto price discovery — and can name at least five credible accounts worth following for market intelligence.
4 — Wallets & Self-Custody
✓
You have set up a non-custodial wallet (MetaMask or equivalent) and understand the difference between a seed phrase and a private key. See: Crypto Wallets →
✓
You have stored a seed phrase securely offline — and understand that anyone who has it controls your funds, with no recovery option.
✓
You have connected your wallet to at least two different blockchain networks (e.g. Ethereum mainnet and Arbitrum or Solana).
Each network has its own RPC endpoint, chain ID and native gas token — adding a network to MetaMask takes under two minutes.
5 — DeFi & On-Chain
✓
You have executed a swap on a decentralised exchange (Uniswap, Curve or equivalent) using your own wallet — not a centralised exchange.
✓
You have transferred assets between two different blockchains using a bridge (e.g. Arbitrum Bridge, Stargate or equivalent).
Bridging is one of the most common sources of user error in crypto. Sending to the wrong chain or using an unsupported bridge can result in permanent loss.
✓
You understand what TVL (Total Value Locked) measures and have used DeFiLlama to compare the size and activity of at least two DeFi protocols.
6 — Perpetuals & Execution
✓
You have opened and closed a perpetual futures position on a crypto exchange — either centralised (Binance, Bybit) or decentralised (Hyperliquid). See: Trading on Hyperliquid →
✓
You have set a stop loss and take profit on a live trade — and understand the difference between a limit order, market order and trigger order in a perp context.
✓
You have checked the funding rate before entering a trade and understand how an adverse funding rate erodes a position’s return over time. See: Perpetual Futures →
7 — Information & Research
✓
You have set up a TradingView watchlist covering your key crypto markets and used it to identify at least one technical level before a trade.
✓
You have used CoinGlass to check open interest and liquidation levels before entering a high-conviction trade.
Large liquidation clusters just above or below current price are a major driver of short-term price action in crypto.
✓
You have tracked a whale wallet using an on-chain tool and observed at least one transaction that gave you useful market intelligence. See: Wallet Tracking →
✓
You have read at least three of the recommended crypto data sources and have a regular research routine covering price, on-chain data and market sentiment.
8 — Risk & Psychology
✓
You have held a crypto position through a drawdown of at least 20% without panic selling — and made a deliberate decision about whether to hold, add or reduce.
Experiencing volatility with real capital is qualitatively different from understanding it in a backtest. This checkpoint cannot be simulated.
✓
You have defined a maximum portfolio allocation to crypto — a percentage you would not exceed regardless of conviction — and have written it down.
Without a pre-committed limit, allocation decisions are made in the heat of a bull market. That is the worst time to be making them.
✓
You understand the difference between exchange counterparty risk and self-custody risk — and have made a conscious decision about where you hold your assets and why. See: Crypto Wallets →