Topic: Bad beginning for crypto beginners. - page 5. (Read 796 times)

The bottom line is that you need to do your homework before investing in any new business or product. You really should know as much about whatever it is that you are getting into; otherwise, it can be disastrous! However, there is no such thing as ever really knowing everything. You don't have to know everything from the beginning; the key is identifying what you should learn and what you can ignore.

It would be absolutely insane for me to try and say that I know all there is to know about what I am doing. I don't. I don't know everything about marketing, I don't know everything about design, and I sure as hell don't know everything about entrepreneurship. But I know enough to get by, which is all you can ever ask for. Be realistic with yourself, but most importantly - don't make excuses. If you're committed to doing something, do it right or don't even bother. It's just that simple.

If you do your homework, it can be an incredibly rewarding experience. You'll have the advantage over other people in your industry and you'll know exactly what you are doing when it comes time to make decisions.

Putting up money without any knowledge is really a tragedy for beginners. Most of them usually expecting a good return or profits. Believing in hype isnt bad but make sure you knew consequences and risk of that. Thats why its imperative and if you know that you are a newbie you must learn all technical and important things before putting up any money on the table.

Imo all that a beginner need to understand is to only invest/play with what you can afford to lose. He won't be beginner soon enough   

No matter how harsh or amusing it may sound, many of us have made the mistakes you describe. Sometimes it is useful to learn everything on your own, albeit from bitter experiences. Having made a mistake once, we have a signal that shows us a red flag of danger.
I remember all these enticing videos from YouTube where supposedly successful people, talk about themselves, and call for investments in various crypto projects. "I did it, and you can," and all that blah blah, has a very strong effect on the psyche of desperate people who urgently need money. It exists even now. And there's a good policy here on the forum to warn newcomers not to trust hysterics, but we can't warn everyone. Therefore, the experience becomes the best teacher; for some, it takes several lessons, but it works.

My opinion on beginners who want to get into crypto has always been that they stick to Bitcoin and HODL. That's best for starters, although it will prove to be the best for veterans as well. But they will have to realize that sooner or later because, as beginners, they are usually curious and very eager. There are just so many things to try and venture on. But pending enough research and knowledge, they could quench their eagerness by buying Bitcoin and HODLing them. Of course, they also need to know the basics of purchasing and storing their first Bitcoin. This is more or less enough to keep them safe.

 
Some people joined cryptocurrency because of the investment opportunities it has for beginners, but this has been a bad year in general for anyone who has decided that this is the year to invest in crypto. One thing is sure about this year that it will filter off the people who are gold holding crypto-currencies from those who will be affected by the bad news and decide not to have any more bad news.

And another set of beginners are those who jump into buying a coin due to social media hype without first having the proper basic knowledge about it, or doing the necessary research and findings to know if it is worth It. Because I have noticed that beginners are the set of people who patronize most of the shitcoin free mining that sometimes usually end up not worth the time and efforts

Yessss... I love the context, only that some parts are tactically scripted.
As a beginner in anything you'd Wanna try out in life --business, whatever.... It's imperative that you know the intricacies ( I say this almost every single time I talk in here ), you must have the foreknowledge to gain utmost prevalence, and amongst all -- you must understand how it works.
Someone sent me an email and invited me to invest in a site. She said it's currently paying and it's all about TRADING. I never doubted that fact but, I asked a question and she wasn't able to answer me, it was: what y'all trading? she began to mix up points and I blocked those mails ASAP. Though I wasn't willing to invest but I just had to know what I'll be going into (maybe if I had an interest)....if that's in a case of an invitation to a scammy site, how much more in crypto? ^{is what I thought 💭}

Sandra 💇

I'm not sure if you have been here around 2017 during the bull run, because there are a lot of newbies or shall I say just beginners in crypto market who thinks that the price will continue on a massive uptick till 2018, and there are threads and posts saying that they have quit their day job, their regular 9-5 job and focuses on crypto, maybe bounties or trading or signature campaigns or any other ways to earn here.

But we all know what happens in 2018, it was a bear market, so not sure how those who move out and resign from their day job was able to cope with and bring food in the table because it is very hard that time, just like what we experience in this bear market.

These are the ones who just heard crypto in an specific way/opportunity to invest, without getting enough knowledge and eager to make profit but not learn.

This is the next phase of the first one, these are also the ones who heard a lot in CT, telegrams groups, etc.

These are the ones who were invited on this forum to make job opportunity only, instead of making/join discussion and learn since this is a forum.
After this next phase is the 1st one ^{(aim to get rich)} then 2nd one ^{(pursue different projects to get rich using yhose job opportunities only)}. After experiencing failures, bad experience, there will be a learning phase ^{(i hope so)}, and taking different paths which could make them learn and ends its beginners' experience..

Well, the question is if there is a perfect time to enter crypto. Because if you are thinking OP that it was not a good time to start but for me, I'd see this bear season as the perfect time to do it. If you are investing in Bitcoin now, you are making your way to earn more in the future. Maybe that is the only best option we can do but, of course, you are right in talking about it not relying on this as a single source of income because we know the risk and it takes time to earn profit.

Beginners will just focus on learning crypto first - investing/trading until they are ready to face the possible consequences.

We cannot vividly concluded on the first approach every beginner comes in with to this forum or cryptocurrency at large because many were in look for something else before coming across cryptocurrency, so this entirely change their target to something new they have to give time to learn and acquire the expected pedigree which will apparently take some time, they may later stick to cryptocurrency and stay put while some may be found trolling around different platforms and crypto currencies, which is just a simple identification that everyone is tied to different obligations that keeps them in or away from cryptocurrency as a beginner.

this type imo is the majority beginner. since crypto changed many people's lives, people think crypto is a quick way to get rich and they think this is an easy thing. Remember that crypto won't make you rich overnight.


there are many factors that cause a beginner to do this, such as he is a shy person, a little introverted or won't feel trivial and investing in crypto is easy.


if not accompanied by a strong foundation then beginners who enter crypto and make crypto as a side job will leave crypto quickly. great patience and also consistency is needed to survive in crypto.

The answer depends on what kind of job it is. "Crypto as a source of income" is a very broad term that can include all different kinds of work depending on what you can do. Crypto is an exciting field to be in, and something we predict will continue to grow in the coming years. The technology is developing fast, and I expect that more jobs will be popping up surrounding it as people realize just how important this field is to the future of many industries. For example, if you have programming or other technical skills, there are plenty of websites where you can find short-term jobs working on cryptocurrency projects. Or if you have a service that other people are willing to pay for, then it might be worth starting your own business and reaching out directly to those customers (and charge for it directly in crypto).

All we're saying is that you should consider crypto-related business beyond just trading. In the end, there are many different kinds of jobs out there, both in and outside the world of crypto. You just need to find one that's right for you.

My rule of the thumb when I bought Bitcoin around 2018-2019 after I learned a little bit when I started in 2017 is never ever depend on it fully even if I had a well-paying job. I would treat my investment as just something I threw away in my backyard and forgot 3 years later that it grew without my knowledge, it would lessen my expectation and would avoid triggering my desperation (like you mentioned) to just gain a cent of a profit within seconds. I can even recall coping up with my losses wherein I was keeping on refreshing BTC to USD chart in CMC.

All am saying is that it is not ideal for a beginner to depend on crypto as a source of income. Their maybe some established traders/investors  that crypto  become a job that brings income. If a beginner reasons to make crypto as a source of income,  then such person will be full of expectations,  so desperate to make profit all time.

I don't understand the context of this paragraph. Normally, crypto provides jobs for people, if a beginner have got skills like; data analysis, programming, content creation etc, that fits in a cryptocurrency firm looking for his potentials, then its not a wrong move if he applies and gets employed. And he/she doesn't need cash to get employed. The only investment required here is time which matters in every field.

It would be better if you specified what part of cryptocurrency a beginner shouldn't take as a job opportunity. Like I did above.

Most crypto beginners starts their journey in a wrong way by not considering crypto education as the first investment to go after. The worst decision anyone can make is investing in something you know nothing about,  not just in cryptocurrency but anything else. In cryptocurrency their is a chance of making good gains and also a chance of making huge loss. It is easy for beginners to loss big, expecially beginners who don't have better knowledge about cryptocurrency.  Beginners who starts their crypto journey in a wrong  way normally have funny reasons to trade/invest in crypto.


Beginners with agenda to get rich:  these beginners are just so desperate to make money from crypto that will make them become rich, they have no idea about risks involve in cryptocurrency . Beginners with the mindset of becoming only understands crypto be an investment that has a big return as quick as possible.  Crypto investments is always interesting when it is long-term.

Beginners starting the journey with wrong projects:  these beginners have no direction,  they feel all cryptocurrency is about making  profits not knowing investment in crypto it is important to consider reliability and safe it is. Beginners who don't know good projects to start with can easily fall into the trap of scammers in investing in the wrong project.

Beginners with mindset of taking crypto as job opportunity:  some beginners thinks crypto can cover up the space of getting  a job. It is wrong to plan of making cryptocurrency a source of income as a beginner.  It is important to have emergency fund while Investing in crypto.

 Bad beginning never end up in good result ,rather  it ends in regret, waste of fund. The problem why some beginners starts investment in a wrong way is because they are too busy and think knowledge is time consuming.