Topic: Bad beginning for crypto beginners. - page 4. (Read 755 times)

Most beginners fail because of the wrong mindset of seeing cryptocurrency investment as a shortcut to getting rich not considering all the risks as well as the time and patience that they also have to invest. Cryptocurrency is too broad and what we hear or read online convinced us to invest isn't enough, especially the stories and testimonies of investors who succeeded in it. It's a rollercoaster-like ride of emotions because of the volatility of the market. Beginners should understand that there are still lots of things that they have to learn and to deal with for them to succeed in this journey.

My personal story of my first investment into crypto at all is also a very negative one. Back in 2017 i made my first investment into the ICO of Dimcoin, back then ICO's where the new sh*t and Dimcoin also already collected more than 10 M$ or so if i remember correctly. Right after the ICO was finished the german CEO of the company resigned and from that point onwards everything went down pretty quickly and the project died completely which meant a total loss of my investment. Thank god i only invested 150$ or so, so it was not that big of a loss for me, but i was definitely very disappointed with my first crypto experience.
The most important thing is, that you learn from mistakes and that you only invest what you can afford to lose.

If they can learn crypto well, they can get a new source of income from crypto. Moreover, crypto offers something different from what they have done before, and it will depend on their seriousness in learning. If they keep learning and practicing it, they can make money from crypto. But this cannot be produced instantly because the learning process never stops. The crypto industry will always move, and there will be lots of trends that replace previous trends. And only people who are willing to learn can earn something from crypto. At the same time, others will get nothing from crypto.

As a rule, beginners know about the cryptocurrency market only that here you can increase your deposit tens or even hundreds of times. This is what makes them miss such an important stage as training. They are afraid that they will not have time to earn, and thinking that there is nothing easier than to buy cheap and sell expensive. In this case, they will definitely return to training when they lose their first deposit.

I disagree with your statement, are you sure you are off to a good start and that you have never made a mistake in your investment journey? Most of the newbies in the market will have a difficult start because of simply lack of knowledge, and no leader… it can be said that they don't know where to start. But as long as they realize their shortcomings, never stop learning, and don't give up after falling, they will become real investors like us.

I agree, Beginners are not to blame because they lack knowledge of cryptocurrencies. They can be wrong if they are a very experienced person and still have the thoughts the OP said. Learning will form for beginners to realize that their thinking has been wrong all along about getting rich in cryptocurrencies, and so on. Instead, they just need to be directed because maybe their thoughts have only seen a few people wandering the internet without providing an in-depth explanation of what cryptocurrency is.

Though crypto industry has offered a lot of people job opportunities to people, this is precisely people that has invested time to learn either they're tech guy or coming into trade or invest. Literally as a biginner you no nothing about the crypto space, therefore you need to learn before you earn. coming here with the mindset of getting a job immediately when you just got into the crypto space new is a wrong mindset, you have to follow the process, learn so at last you earn.

This is a good way to evaluate wrong decisions or a frustrating situation. You have to find a way to correct what has gone wrong instead of abandoning it and running away. Anyone who invested in Bitcoin in 2022 as the market is crashing should not see it as a loss they can not get out of. Develop that believe it will later go well and wait.

We don't have to blame any beginner, because we the name beginner it's obvious that they are learner, so what i have to say is that for not to venture into cryptocurrency in wrong perception a research have to be conducted, and op Note that nobody who is into cryptocurrency that is above mistake or venture into the wrong side of cryptocurrency, cryptocurrency achievement required smartness which the genesis is from your ability to research and know what's obtainable before venturing in any crypto investment.

The point is that these beginners will able to take full responsibility for their investment and work for it. Because usually, we think that after buying crypto, we instantly make a profit after. It is a kind of thinking that disappoints us but we have to accept that everything never went okay all the time. Like entering during the bear season, we can say it is really a challenging time but if we can manage to hold and wait for the bull season, great rewards are actually what we get in the end.

I was a beginner who suffered the 2018 crash, the market had plummeted compared to 2017's all-time high and for some newbies including myself, it looked like the end of the world. Fortunately, I didn't take a huge loss because I didn't actually get to sell my BTC which was then worth a mere of a few hundred dollars, not because I believe in cryptocurrencies, but because I was so devastated that I completely abandoned everything. I didn't lose hope though, and decided to wait a few months or even years to sell the minimal amount of Bitcoin I had acquired.

I'd like to conclude that beginners also tend to make rapid moves, overreact and are not patient enough when starting out, which can have fatal results in such a volatile market. These two characteristics are usually missing in beginners who easily get discouraged.

Bad beginnings do not always end badly. For beginners in cryptocurrency who have had the recent experience with cryptocurrency and decide not to quit, they will become strong cryptocurrency hodlers and advocates for hodling. Experiencing the bad and risky side of something can make you better prepared to handle it if you stay. So although there can be wastage of funds at the bad beginning, If you are not perturbed and try to understand how to survive in this space and how things work, you will have a good report.

I believe that everybody come into crypto with one or two reasons but main purpose of 90% people that are into crypto nowadays is because of big profit and found  out that crypto investment is one of the easy ways to make this money with any capital tha
Any capital you have not knowing it also involves so risks.but I discovered that many beginners ignored the risk path  that involved in crypto it because those that introduced them  in crypto never take that path seriously with them.

If not only for Bitcoin, it is very hard to find good project and gain many of beginners cannot differentiate between Bitcoin, coin and token, and for you not to know differences  between Bitcoin, coin and token it may be so hard to know which one to invest in. If I could remember one guy in my area that also tell  people he has Bitcoin but not knowing it was another thing he was holding in his wellet but it was not that educated but still he can read but the only thing that he doesn't know meaning of Bitcoin till I explained to him.

Yes, many people are been feeding on this crypto over some years now do to they don't have another means of feeding.what can we call that, is that not job opportunity. Once you understand crypto and you can do trading especially short term trading and you fully concentrate in it, you be getting something from here, so far the profit is not small to you. But the only thing don't depend on crypto as ours source of imcome and same applies other jobs too. If we can remember when Twitter sack work's.

In this era now everyone want be rich not even in crypto. People are eager to get any possible way to make money. Most of the beginner join crypto because their friend had make it through crypto not knowing he seek for it knowledge before venture into it, for a long time.

Mistakes are what clear the path for some beginners, they can't be eliminated all the time but we a beginner who follow a precautionary path will be eased from many of them. All the components of crypto are risky as it involves money and value and if you start well with a humble beginning, one will always have a story to tell someday. I'm very interested in that quick to get rich point, most crypto noobs that came on board over the last 1 or 2 years that were all here to catch the train of quick money are probably in regrets now because there is no single project out there that has been having a negative PNL, to earn legitimately, one must be patience in crypto.

That is exactly what happen to me, the person that introduce me about crypto business have a mind of getting rich quick, which my bad experience was to trade on future trading with a very high leverage that in involved very high risk of liquidation point closed next, Since, i joined this community in this forum, it really change my mind set, cryptocurrency is not by getting rich quick, but have a process by investing good coins after making a research.

Educating ourselves is very important, especially when we are about to enter the crypto world, which incidentally has a very high risk. Education is not only by going to school or formal institutions. However, we can also educate ourselves by reading and learning various things related to crypto from various sources. Not only that, education can also be obtained from observing and studying the experiences and activities of other people. In this forum, to be honest, we can get a lot of education related to crypto. We can learn a lot here. Indeed, there will not be a perfect learning process, there will always be obstacles and sometimes the results are not as expected. However, as long as we are willing to always educate ourselves, this will reduce the risks that might happen to us. Crypto is a lucrative and thrilling business because of the risks involved. All of us here were newbies, then, we ourselves who can decide what kind of people we are, what kind of beginning we can make.

Crryptocurrency industry has proven that it is an industry that has the capability to exist for a very long time. There are numerous job opportunities in this industry and it is absolutely fine to depend on cryptocurrency as a source of income if you have a good job or a skill that you can perform to earn from crypto currency.
Anyone can depend on crypto to earn a living, maybe you could be more specific that people should not depend on cryptocurrency trading to earn a living. Yet, you could be wrong if you say so, because a pro trader with good risk management and patience would be fine depending on crypto trading to earn a living.
If there is an opportunity, encourage your friends to find how they will find job opportunities in cryptocurrency industry.

A Area I would blame this on is orientation gotten by every newbie. If I am not mistaken this is the only forum that actually warn about the losses involved in cryptocurrency. Most social media platforms or forums focuses on the profit side of it and that's what has actually lured people into. People coming to it still sees at as somewhat an investment where everything pumps that's why the rate of bitcoin adoption increased around 2017-2019. Because it was the period where early adopters got large profit so those coming do not know the patience it took before the pump and thought it was all smooth. If you try to warn them off it by telling to gain its knowledge they feel its time wasting and the opportunity wouldn't arrive anymore. That's why as the number shitcoins increases more people still go ahead to invest in them. Its all greed and that's one area that is hard to eliminate from humans

So what you are saying is that profit seeking typically ends up badly.  Greed is why this usually happens.

I think the main reason almost everyone starts by looking for profits is that everything Cryptocurrency related moves just so quickly.  The markets have insane drops and pumps every now and then, making your wallet holdings go up or down significantly.  News are coming from all sides and angles, there is an incredible amount of coins and some of them do a lot of damage to the industry.  Think LUNA.  Think how quickly everything moved at the time.  This is all so fast paced that as a Newbie you get a sense of losing the opportunity and the timing.

It is incredibly important to learn before investing, but I get why this is happening.  It is all very tempting and you get to feel that you are missing the train if you are not going to invest right NOW.  If you sit all day on Twitter, it gets worse as everyone seems to think their investment is going to get every holder rich and when there is hype building up, you rush.  And therefore you start making mistakes that cost you a lot.

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