Topic: Advice on how best to protect your capital - page 2. (Read 1125 times)

The best way to protect your capital is financial knowledge. We need financial knowledge to better manage capital and make reasonable investments.
Especially in the crypto market, there are always many risks, so we should analyze it further. Or we can cooperate with some people to make a more accurate decision. That's how I protected my capital in the last 2 years.

Let's not forget that people should as well be very careful with their wallet,cause the wallet you make use of is another very important. There are wallets that are not safe to make use of these days and making use of them puts you at risk of losing everything.

Your private wallet is where your money rest after traveling the blockchain, exchanges and all that ,at the end it's all about your private wallet and that's where you also store the larger amount you have and you wouldn't like to risk hackers having access to that as well. So, anyone that is making use of digital assets should be very sure that their wallet is really good. There are good wallets like Exodus that puts you in control of your wealth. All you have to do is make sure to be backing up your digital assets and also keeping your keys at a safe place where someone won't have access to it.

And of course you do have good points here. These are things that you will have to bother about when you start investing in projects and like you have said , we all should not be quick to trust any project we see. It is best to be careful about it and do research before deciding whether we should join them or not. Most of the projects you will see these days are just pure scam.

Basically, don't be quick to give them your money if you're not 100% about what you're investing in.

Always find the good projects that have complete information,documents and their planned for their project in the future so that we can sure that this project that we are gonna put our investment it is not a scam project in order to protect our capital. Do not trust from others people says make your own research.

OP using this type of attitude you would have undoubtedly thought bitcoin was a scam back in 2009-2010.  Some anonymous guy creating money while he stockpiled a huge supply himself.  That whole thing looks like a scam.  Sometimes you have to believe in "fairy tales" that do come true, the mind can be too rational at times without believing in magic.

If you lack experience then try to earn more knowledge.

To know more things you know, the more profits you will be able to get. Experience can be earned while you get by so while waiting for those, you need to learn more about it. You don't have enough experience but studying some might help you when something will happen.

You are indirectly condemning fundamental analysis, but I think part of what controls the market is news, and most time, the market really responds to news, look at recently that Bakkt is intending to launch by September, even if it will not later have any effect on bitcoin value, bit because many news came out speaking of its positive influence on bitcoin, many people started buying and investing ahead of the launching, and we can see the effect yesterday on bitcoin, so I would not really go against trading by news, but we can only say we should not rely on it alone, that is, we have to make sure that we mix both together to trader our coin, both technical analysis and fundamental analysis. Bitcoin is a speculative market, and I think news really works a lot.

I think in this way as well, to me all new coins are scams until those coins can prove it otherwise, I know it is unfair to the developers that are real and want nothing but the success of their coins but the number of such projects is so small that I have not found other way to protect myself and my money than to think of all new projects as scams, however if the developers of those new coins are honest they will eventually prove their worth to the community and they will get the recognition they deserve.

My advice is to protect yourself, don't trust and trade based on the bitcoin news and their predictions.
You can save a lot of money. Here is why:

https://bitcointalksearch.org/topic/here-is-why-you-shouldnt-trade-bitcoin-based-on-the-cnbc-bitcoin-news-5176891

There are still some projects that you will easily spot out from the beginning through our research, that is if we are the type that do research, it is not every scammers that you see are that smart and you could sense from some of the things related to them that they are scam, in fact from their team, you will know if the project team are going to be smart and if they have the potential of developing the project to a performing one.

For the ones that are not easily spotted through research, we will surely know as you said, this is why it becomes necessary for investors to just be patient and then wait for the project to be launched first before getting to buy from the exchange market, at least through the exchange they are even listed on, you will know if it is a quality or low project.

No one should be trusting anything they see in this crypto space cause there are lots of scammers here and there. I have seen some projects that looked too good to be true but at the end they all turned out to be nothing but fake, and some people also fell for projects like these and got scammed of their hard earned money which is very bad.

You shouldn’t trust any projects that doesn’t show who the devs are. There are also those that makes use of identity, claiming to be those that they are not and at the end you will get to find out that they are not who they claim to be. So as long as you decide to invest in cryptocurrency, you should always make sure that you’re aware of all these kinds of problems and avoid them. If you decide that you’re not going to do your research then that’s your own problems and you’re only going to end up getting scammed and that’s it.

Right, it's all research that should at least be done before starting an investment and other additions that might help, if they run a campaign or anything on this forum then at least you can see who manages it, if it turns out someone trusted manages it and or people who already have experience and good reputation here, then it is a more valuation that becomes a belief for investors so that the capital that you prepare to invest has a good opportunity later on to become an expected profit.

There are many ways. The first thing you need to do is reading their whitepaper or whatever they have to describe what's their project is all about. You can easily spot a plagiarized content on the internet via plagiarism checkers tools which is not complicated to use. You can also check how they are rated from their users through forum or whatever platforms.

I was talking from the likely point of view of someone who is going to invest their income from their dayjob into crypto rather than someone who make most of their income from crypto-related activities like trading and yes, campaigns in this forum, etc.

I think the crypto market can survive without new ICOs, it did for a long time. With all the failed projects in the past we can't blame people for being cautious. If I know someone new who wants to get into crypto, I'd probably just instruct him to buy and hold btc. That is just my opinion.

Indeed, we will not have an exact criterion to clearly define a scam project because this is the crypto world, the projects are based on ideas, the information provided about the project is only from the developer, no one has confirmed this information, and if we fall into a scam, we can only accept it in silence, can't complain to anyone. The general situation is like that but somewhere, from some people who have experience, they always advise us to clearly check the information and community of a project, it will limit a part of the scam.

That is difficult to prove the project will be a scam or not, and there are no exact indicators to determine a scam. But it will prove in the middle of their journey, and they will get a slowly moves in the project, they will hard to survive in the market and in the end, they will scam their investor and their participants. Many projects are hard to get listed on the exchange, and usually, after the project has finished the first phase of the token sale, they will delay giving the reward to the participants.

Nice advise indeed!!!   -- "All Scams until proven otherwise" --
And even proven be skeptical, they can do a very good job on faking all info like events, team, followers, likes, partners...anything can be faked!

How to prove ta project in not Scam?
and, if they are not Scam, have they any imperialistic ways of handling?
See Binance, looks like legit, but behind the scenes they are doing do much Scam...

So, be triple skeptical!

Good crypting!

Many people got scammed by fake ICO`s, what is not a strange in my opinion, we know that many people don`t do any kind of research before they invest their money in new projects. I agree with you that people should be disappointed with ICO`s, they just need to do a better research about project before they invest money in them, or they wish to participate in their bounties.
We have so many stupid examples where people invested in ICO`s where team members having cartoon images, people invested in ICO`s that promise too much in return. Let`s be real, there are many fake and scam ICO`s, but also there are some very good and successful ones too.

If everyone stay away from ICO, there is really lots of things that would suffer for it, and I have to be selfish a little here, there will be no campaigns again, no airdrop and no signature campaigns, so everything will just be empty like it never exist, although we have scam projects a lot in the market, but we cannot endeavor to stay away because it would really make cryptocurrency market a bit boring.

The best we can just do is what you have said, we should make some research and ensure that the project that we are investing in has real working product, and that the product has a working team that will continue to ensure the growth of the project and be creating awareness constantly for new investors to come in.

The idea of trying to invest early in the next bitcoin was quite popular during the recent years but the truth is that any upgrade that a coin could make over the code of bitcoin is something that could be added to bitcoin at a later time, so most coins even those that show potential and have decent and hard working developers will eventually disappear as the characteristics that makes them unique eventually appear in bitcoin and those coins become obsolete.

Personally I'd stay away from ICOs but if you really want to get involved then do the appropriate research and consider the money gone so you don't feel bad should things don't pan out well. Monitor the project closely so you don't end up a bagholder.

As for HYIPs, they're guaranteed to run away with your money. I suppose some people still need to get burned at least once to learn that lesson.