The best advice I would give is to not put too much money in for a few months and just read read read and play the game, throw .1btc into an ICO, try to trade your small amount up to something more. My point is people need to learn from their mistakes and get wise without spoon feeding them 'wisdom'.
The reason I say this is cause the OP rules at one time or another would completely rob me of the biggest opportunities of the last few years. I mean saying coins with large amounts are shit, I'm NEM, Ripple, Dodge. etc. I have even made money on what looked like classic scams and they turned out not to be. And I have invested in airtight ICO's and lost money. Saying don't invest in ICO again would of made you miss the biggest coins in market cap terms....maybe principles but they shouldn't be rules. Best advice learn yourself and keep your eyes open and learn from your mistakes.
Topic: Advice to newbies before investing into an Altcoin! (Read 1580 times)
An investment in any cryptocurrency is very, very risky. It must be done knowing all the problems that can happen. investing in altcoins that aren't released yet is more dangerous. You need to research all documents related to it, to understand a good part of the tech involved. If you do everything right, can make some money and help a new technology to grow.
Posted From bitcointalk.org Android App
Posted From bitcointalk.org Android App
This is good advice.
Remember that right now crypto is like the dot com bubble in the early 90's.
A ton of money is flowing into projects that are going nowhere.
Some people are going to get rich quick off investors, some people are going to put in a lot of hard work and go bankrupt.
Ten years from now 99.99% of these coins won't exist.
Remember that right now crypto is like the dot com bubble in the early 90's.
A ton of money is flowing into projects that are going nowhere.
Some people are going to get rich quick off investors, some people are going to put in a lot of hard work and go bankrupt.
Ten years from now 99.99% of these coins won't exist.
Yeah most of the coin will extinct in few years, you need to really search the news and everything before you really jumped into crypto currencies world and most of the alt coin especially ICO is a valueless coin so if you dont have the experience you better learned before you buy
The rich get quick thinking won't get them far.
Here's another advice:
The quickest way to go broke is to try to get rich quick.
Trading is a highly competitive environment and most people say only the top 1-5% of traders are profitable.
If you don't know what you're doing, trading will only serve to erode your profits. As an investor, the most important thing is to PRESERVE YOUR CAPITAL. And sometimes, that means not trading. Know your strengths and weaknesses, and don't trade with more than you can afford to lose.
Cheers, just my 2 satoshi worth to share from trading bitcoin/altcoins for the last 4 years.
The quickest way to go broke is to try to get rich quick.
Trading is a highly competitive environment and most people say only the top 1-5% of traders are profitable.
If you don't know what you're doing, trading will only serve to erode your profits. As an investor, the most important thing is to PRESERVE YOUR CAPITAL. And sometimes, that means not trading. Know your strengths and weaknesses, and don't trade with more than you can afford to lose.
Cheers, just my 2 satoshi worth to share from trading bitcoin/altcoins for the last 4 years.
This is good advice.
Remember that right now crypto is like the dot com bubble in the early 90's.
A ton of money is flowing into projects that are going nowhere.
Some people are going to get rich quick off investors, some people are going to put in a lot of hard work and go bankrupt.
Ten years from now 99.99% of these coins won't exist.
Remember that right now crypto is like the dot com bubble in the early 90's.
A ton of money is flowing into projects that are going nowhere.
Some people are going to get rich quick off investors, some people are going to put in a lot of hard work and go bankrupt.
Ten years from now 99.99% of these coins won't exist.
A lot of years spent trading and some other projects so time to give some advice to newbies.
Advice on buying alt coins, just remember you will be swimming with a lot of sharks once you get into altcoins so build some defence and protect you investment wisely, because these people i referred to as sharks are the scum of the earth.
"Read the whole ANN thread of a coin (even if its a 100 page) don't just buy cause you feel you have a hunch or based on hype. Hype is created by shill accounts and cheap paid news editorial , you can usually tell you will see a lot of fake hype from newbie accounts posting crap like " to the moon" or screenshot of price going up"
Make sure the dev is active and has not left the project, if the dev is less than full member account walk away.
Crowdsale and ICO walk away, only people making money will be the dev and his associates. ICO and Crowdsale are bullshiet. Don't believe in that marketing crap has the reason for the ICO or crowdsale.
Inactive dev walk away, a dev that randomly disappear for weeks is a bad sign. If you hear excuse such as family or medical / holidays etc expedite your exit.
A dev that has worked on several other alt coins that have failed is usually a good sign to avoid any of his project, its not a coincidence history repeats itself.
Coin with high supply like 100 millions are less successful than coin coins in the mid range like 30-40 mill.
If a dev claims high % of coins will be used as bounty walk away, this could just be a ruse to pay the coin to himself unless there is proof each bounty has been verified and checked thoroughly.
Avoid buying coins that are too expansive.
Trust no one and avoid trollbox.
Do not become a bag holder , if you feel the coin is going nowhere cut your losses and it least exit with some of your money and stop day dreaming.
Don't invest money you cannot afford to loose.
Do not get caught in the dream state where you think the coin you pick will make you rich ,usually be realistic.
Do not automatically assume if you invest in the top 10 coin it automatically means you will make money, you will be surprised of the results and realise your mistake far too late.
Do not get greedy , if you have a coin that has made some profit it least get 50% of the profit based on your investment.
Using the above guidelines will make you more prepared for the altcoin scene.
Advice on buying alt coins, just remember you will be swimming with a lot of sharks once you get into altcoins so build some defence and protect you investment wisely, because these people i referred to as sharks are the scum of the earth.
"Read the whole ANN thread of a coin (even if its a 100 page) don't just buy cause you feel you have a hunch or based on hype. Hype is created by shill accounts and cheap paid news editorial , you can usually tell you will see a lot of fake hype from newbie accounts posting crap like " to the moon" or screenshot of price going up"
Make sure the dev is active and has not left the project, if the dev is less than full member account walk away.
Crowdsale and ICO walk away, only people making money will be the dev and his associates. ICO and Crowdsale are bullshiet. Don't believe in that marketing crap has the reason for the ICO or crowdsale.
Inactive dev walk away, a dev that randomly disappear for weeks is a bad sign. If you hear excuse such as family or medical / holidays etc expedite your exit.
A dev that has worked on several other alt coins that have failed is usually a good sign to avoid any of his project, its not a coincidence history repeats itself.
Coin with high supply like 100 millions are less successful than coin coins in the mid range like 30-40 mill.
If a dev claims high % of coins will be used as bounty walk away, this could just be a ruse to pay the coin to himself unless there is proof each bounty has been verified and checked thoroughly.
Avoid buying coins that are too expansive.
Trust no one and avoid trollbox.
Do not become a bag holder , if you feel the coin is going nowhere cut your losses and it least exit with some of your money and stop day dreaming.
Don't invest money you cannot afford to loose.
Do not get caught in the dream state where you think the coin you pick will make you rich ,usually be realistic.
Do not automatically assume if you invest in the top 10 coin it automatically means you will make money, you will be surprised of the results and realise your mistake far too late.
Do not get greedy , if you have a coin that has made some profit it least get 50% of the profit based on your investment.
Using the above guidelines will make you more prepared for the altcoin scene.
This is very helpful. There's a lot of new coins that appear and a lot of people has no idea how to filter what's real and what's not. But i think this could be also used as a trading advice. I hope you can add some more.
BITCOIN TALK = BAD INVESTMENT ADVISE
LOSS SHIRT, KEEP PANT
---
TOP MOON COIN:
1. PACCOIN
2. TITCOIN
3. LEOCOIN
LOSS SHIRT, KEEP PANT
---
TOP MOON COIN:
1. PACCOIN
2. TITCOIN
3. LEOCOIN
Sound investing advice in general here. This could make a good sticky.
How do you build build reputation as developer?
I personal like to be involved but I'm not much as a talker to build repo in this, or other, forum.
Eventually everyone has to start somewhere, without a basic trust it's hard to build on.
I personal like to be involved but I'm not much as a talker to build repo in this, or other, forum.
Eventually everyone has to start somewhere, without a basic trust it's hard to build on.
A lot of years spent trading and some other projects so time to give some advice to newbies.
Advice on buying alt coins, just remember you will be swimming with a lot of sharks once you get into altcoins so build some defence and protect you investment wisely, because these people i referred to as sharks are the scum of the earth.
"Read the whole ANN thread of a coin (even if its a 100 page) don't just buy cause you feel you have a hunch or based on hype. Hype is created by shill accounts and cheap paid news editorial , you can usually tell you will see a lot of fake hype from newbie accounts posting crap like " to the moon" or screenshot of price going up"
Make sure the dev is active and has not left the project, if the dev is less than full member account walk away.
Crowdsale and ICO walk away, only people making money will be the dev and his associates. ICO and Crowdsale are bullshiet. Don't believe in that marketing crap has the reason for the ICO or crowdsale.
Inactive dev walk away, a dev that randomly disappear for weeks is a bad sign. If you hear excuse such as family or medical / holidays etc expedite your exit.
A dev that has worked on several other alt coins that have failed is usually a good sign to avoid any of his project, its not a coincidence history repeats itself.
Coin with high supply like 100 millions are less successful than coin coins in the mid range like 30-40 mill.
If a dev claims high % of coins will be used as bounty walk away, this could just be a ruse to pay the coin to himself unless there is proof each bounty has been verified and checked thoroughly.
Avoid buying coins that are too expansive.
Trust no one and avoid trollbox.
Do not become a bag holder , if you feel the coin is going nowhere cut your losses and it least exit with some of your money and stop day dreaming.
Don't invest money you cannot afford to loose.
Do not get caught in the dream state where you think the coin you pick will make you rich ,usually be realistic.
Do not automatically assume if you invest in the top 10 coin it automatically means you will make money, you will be surprised of the results and realise your mistake far too late.
Do not get greedy , if you have a coin that has made some profit it least get 50% of the profit based on your investment.
Using the above guidelines will make you more prepared for the altcoin scene.
Advice on buying alt coins, just remember you will be swimming with a lot of sharks once you get into altcoins so build some defence and protect you investment wisely, because these people i referred to as sharks are the scum of the earth.
"Read the whole ANN thread of a coin (even if its a 100 page) don't just buy cause you feel you have a hunch or based on hype. Hype is created by shill accounts and cheap paid news editorial , you can usually tell you will see a lot of fake hype from newbie accounts posting crap like " to the moon" or screenshot of price going up"
Make sure the dev is active and has not left the project, if the dev is less than full member account walk away.
Crowdsale and ICO walk away, only people making money will be the dev and his associates. ICO and Crowdsale are bullshiet. Don't believe in that marketing crap has the reason for the ICO or crowdsale.
Inactive dev walk away, a dev that randomly disappear for weeks is a bad sign. If you hear excuse such as family or medical / holidays etc expedite your exit.
A dev that has worked on several other alt coins that have failed is usually a good sign to avoid any of his project, its not a coincidence history repeats itself.
Coin with high supply like 100 millions are less successful than coin coins in the mid range like 30-40 mill.
If a dev claims high % of coins will be used as bounty walk away, this could just be a ruse to pay the coin to himself unless there is proof each bounty has been verified and checked thoroughly.
Avoid buying coins that are too expansive.
Trust no one and avoid trollbox.
Do not become a bag holder , if you feel the coin is going nowhere cut your losses and it least exit with some of your money and stop day dreaming.
Don't invest money you cannot afford to loose.
Do not get caught in the dream state where you think the coin you pick will make you rich ,usually be realistic.
Do not automatically assume if you invest in the top 10 coin it automatically means you will make money, you will be surprised of the results and realise your mistake far too late.
Do not get greedy , if you have a coin that has made some profit it least get 50% of the profit based on your investment.
Using the above guidelines will make you more prepared for the altcoin scene.
Thank you for sharing your experiences. Since I am a newbie too, this is very helpful.
1.Never ever buy into a self-moderated OP coin
2.never ever buy into a coin with unknown rat (dev) or team.
More can be discusse soon including ICO etc.. but for now just try prevent those two points at all cost
No. 1 is the one thing I do really check first when I do visit some threads I'm assuring it that its not self-moderated which op can easily delete negative comments about the coin which purely indicates on shady behavior and also non-transparent devs is already a common sense thing because without knowing them do really have the risk of getting scammed on ICO.Posted on OP its a good advice anyway. 2.never ever buy into a coin with unknown rat (dev) or team.
More can be discusse soon including ICO etc.. but for now just try prevent those two points at all cost
invest in tech. not made up promised (vapourware)
Blocknet and Bitbay are 2 which will rise. There tech is amazing and gone unnoticed. Do your own research of course. Im sure theres a few more hidden gems about to explode.
Blocknet and Bitbay are 2 which will rise. There tech is amazing and gone unnoticed. Do your own research of course. Im sure theres a few more hidden gems about to explode.
That'sbeen very clear, how an investment should be and what factors a user needs to consider before making an initiation to invest into the particular ICO or an altcoin. As always very few altcoins were successful, so it's ones own responsibility to choose the right coin and stay away from losses.
A lot of years spent trading and some other projects so time to give some advice to newbies.
Advice on buying alt coins, just remember you will be swimming with a lot of sharks once you get into altcoins so build some defence and protect you investment wisely, because these people i referred to as sharks are the scum of the earth.
"Read the whole ANN thread of a coin (even if its a 100 page) don't just buy cause you feel you have a hunch or based on hype. Hype is created by shill accounts and cheap paid news editorial , you can usually tell you will see a lot of fake hype from newbie accounts posting crap like " to the moon" or screenshot of price going up"
Make sure the dev is active and has not left the project, if the dev is less than full member account walk away.
Crowdsale and ICO walk away, only people making money will be the dev and his associates. ICO and Crowdsale are bullshiet. Don't believe in that marketing crap has the reason for the ICO or crowdsale.
Inactive dev walk away, a dev that randomly disappear for weeks is a bad sign. If you hear excuse such as family or medical / holidays etc expedite your exit.
A dev that has worked on several other alt coins that have failed is usually a good sign to avoid any of his project, its not a coincidence history repeats itself.
Coin with high supply like 100 millions are less successful than coin coins in the mid range like 30-40 mill.
If a dev claims high % of coins will be used as bounty walk away, this could just be a ruse to pay the coin to himself unless there is proof each bounty has been verified and checked thoroughly.
Avoid buying coins that are too expansive.
Trust no one and avoid trollbox.
Do not become a bag holder , if you feel the coin is going nowhere cut your losses and it least exit with some of your money and stop day dreaming.
Don't invest money you cannot afford to loose.
Do not get caught in the dream state where you think the coin you pick will make you rich ,usually be realistic.
Do not automatically assume if you invest in the top 10 coin it automatically means you will make money, you will be surprised of the results and realise your mistake far too late.
Do not get greedy , if you have a coin that has made some profit it least get 50% of the profit based on your investment.
Using the above guidelines will make you more prepared for the altcoin scene.
Advice on buying alt coins, just remember you will be swimming with a lot of sharks once you get into altcoins so build some defence and protect you investment wisely, because these people i referred to as sharks are the scum of the earth.
"Read the whole ANN thread of a coin (even if its a 100 page) don't just buy cause you feel you have a hunch or based on hype. Hype is created by shill accounts and cheap paid news editorial , you can usually tell you will see a lot of fake hype from newbie accounts posting crap like " to the moon" or screenshot of price going up"
Make sure the dev is active and has not left the project, if the dev is less than full member account walk away.
Crowdsale and ICO walk away, only people making money will be the dev and his associates. ICO and Crowdsale are bullshiet. Don't believe in that marketing crap has the reason for the ICO or crowdsale.
Inactive dev walk away, a dev that randomly disappear for weeks is a bad sign. If you hear excuse such as family or medical / holidays etc expedite your exit.
A dev that has worked on several other alt coins that have failed is usually a good sign to avoid any of his project, its not a coincidence history repeats itself.
Coin with high supply like 100 millions are less successful than coin coins in the mid range like 30-40 mill.
If a dev claims high % of coins will be used as bounty walk away, this could just be a ruse to pay the coin to himself unless there is proof each bounty has been verified and checked thoroughly.
Avoid buying coins that are too expansive.
Trust no one and avoid trollbox.
Do not become a bag holder , if you feel the coin is going nowhere cut your losses and it least exit with some of your money and stop day dreaming.
Don't invest money you cannot afford to loose.
Do not get caught in the dream state where you think the coin you pick will make you rich ,usually be realistic.
Do not automatically assume if you invest in the top 10 coin it automatically means you will make money, you will be surprised of the results and realise your mistake far too late.
Do not get greedy , if you have a coin that has made some profit it least get 50% of the profit based on your investment.
Using the above guidelines will make you more prepared for the altcoin scene.
Extremely informative guide.
I would recommend that every single newbie that is planning on investing into altcoins to see this post before they do.
There are a ton of scam ICOs out there, and there is no shortage of people wanting to rob you of your hard earned bitcoins. Often a scam dev will be very very vague about the roadmap and stay anonymous - never invest in coins that seem to be generic/cloned.
Of course you don't give your money to strangers who promise you heaven and earth.I'm talking about ico coins,be sure to know who are those people behind those coins,their roadmap and can they deliver the goods,transparency should be a big issue to you.
Very informative advice and newbies like me should heed that advice. Since I am also trading, information is really your shield against this scams. Read always the ANN page and see to it that devs are always active and giving updates the progress of projects.
this is a very good advice and i say it is even good enough to be stickied in the speculation board or something.
i have an additional though, which may be not so newbie friendly but good to keep in mind. and that is the fact that a coin dev being shit or not doesn't matter when it comes to making a short term profit from a pump. we all know most altcoins are pure pump and dump and it may be risky but figuring this out and finding the right time to get in (before the pump) can always lead to good amount of profit, and that is what we are all looking for.
so i say it all comes down to the market and traders. if they decide to pump a shitcoin they will and there is a lot of profit to be made.
i have an additional though, which may be not so newbie friendly but good to keep in mind. and that is the fact that a coin dev being shit or not doesn't matter when it comes to making a short term profit from a pump. we all know most altcoins are pure pump and dump and it may be risky but figuring this out and finding the right time to get in (before the pump) can always lead to good amount of profit, and that is what we are all looking for.
so i say it all comes down to the market and traders. if they decide to pump a shitcoin they will and there is a lot of profit to be made.
Don’t invest because a YouTube personality recommended the coin; do your own research. Half of the Crypto Youtubers are just shills for genesis mining and other marketing schemes.
1.Never ever buy into a self-moderated OP coin
2.never ever buy into a coin with unknown rat (dev) or team.
More can be discusse soon including ICO etc.. but for now just try prevent those two points at all cost
2.never ever buy into a coin with unknown rat (dev) or team.
More can be discusse soon including ICO etc.. but for now just try prevent those two points at all cost
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