Topic: Bad beginning for crypto beginners. (Read 769 times)

That is how newbies should approach this market but very few do this, since they have heard stories of people becoming millionaires in a short amount of time and we instead recommend they invest in bitcoin and hold, which generates less profits than that, then they think they that it makes no sense to take things slow and invest in all kind of shitcoins as soon as they come to this market, only to realize too late that they were mistaken and we were the ones that were right.

Yeah, I think that is the most logical thing to do in the beginning right? just buy assets like bitcoin and hold. And when you understand what risks are involved later, specially if you wanted to target crypto trading, then it's really up to you.

You can just start and trade right away without any knowledge and think that you can make money, big profits and easy in just like a snap. That's not how the world works. We all need to work our ass off learn slowly and then maybe that knowledge will propel us in the future, but it will take some time.

Yeah, I also know some of those friends of mine who did try to work with the market, but when they experienced huge losses, they all move to another investment platform.

Instead of trying, they decided not to continue and find the right place for them to invest,
if you see no progress and you already done doing your part, better to assess if you are going
to manifest with your chosen venue, or you needed to find a new one and start fresh trying your
success.

If from the start the trading base is used solely based on luck, of course, no progress can be achieved and you will still be a beginner who cannot learn from past mistakes. I often find beginners who are optimistic at first, but when they fail at the start they give up and don't try to correct those mistakes. it also depends on their determination. Crypto investment is not as easy as imagined, we have to adapt well and not give up just because of one failure.

Regardless of the market situation that we are in right now, buying and holding BTC is likely the best for beginners when it comes to long term acknowledging the risks and uncertainties on when will it be picking up. Trading is also another thing, but much more riskier because you can expect to lose most of the time even if you are that skilled.

Ain’t saying that this is the bad beginning for crypto beginners though. They should learn risk management. When things are going quiet like what we have in the bear market, it’s the best opportunity to accumulate.

To understand how one can make their life better thanks to crypto, one must understand crypto is not just an asset but a currency as well. If you can try to understand that, the rest will come. What do I mean by a currency? Well it is just like regular money, which means that you are going to spend it, and earn it as well.

If you have a set of skills that you could use and turn into money in the fiat world, adding crypto payments to that and having a digital presence in the crypto world will make you richer, not wealthy but richer. That is why everyone should look for at this moment and I believe not many people can see that, not the newbies at least.

The development of the cryptocurrency industry has led most beginners to regard cryptocurrency investment as a shortcut to getting rich, and they are very eager to make quick profits by investing in cryptocurrencies. But investing without any knowledge is prone to failure for beginners.
Learn encryption knowledge and practice continuously to gain more investment experience before investing in cryptocurrency, and you can make money from cryptocurrency.

Nothing wrong with a dream of being rich with crypto. It is only a mistake if you think you can instantly become rich with crypto.

We cannot deny that there are some people who can be rich with crypto. This may be a motivation for some beginners to involve with crypto and do big efforts, we cannot blame them for this motivation. Any one has their own motivation, we cannot generalize it since it happens naturally.

I think it is not a mistake if you make crypto as your side job. Unless you make crypto as your main income source, it is surely a problem since no guarantee to earn money regularly with crypto. We know that crypto is unpredictable and high risk, it is not a proper place for a main job. That's why most of people here just make crypto as their side jobs.

It is natural to be nervous, I remember that when I first came to this market the price also went down very rapidly after I bought bitcoin. and this surprised me, I will not deny that I was even afraid but since I joined this market because I really believed in the potential of bitcoin I was able to hold my coins without any problem, and as time has passed I eventually got used to the volatility of bitcoin, but this is a process which takes a lot of time and many newbies could lose a lot of money until they get used to it.

Beginners certainly hope to get a big profit when they invest in cryptocurrencies, when they invest and turn out to be different then it will be easy to panic, I also have an investment worth $ 150 then the drop price is more than 15% in 4 days and makes me panic and then sell all asset.

Even those who have been trained are sure to make mistakes, because for successful trading, in addition to knowledge, experience is also required. And even after the trader becomes more experienced, he also makes mistakes, as he becomes too confident and neglects risks.

It's an important topic, as many beginners assume crypto is an easy topic to dive into. As for me, it's a better strategy to learn some basics and, after that, start doing anything in the field. Some universities offer first-rate courses. Here's a good selection of blockchain-related programs: https://oneart.digital/en/blog/want-to-study-blockchain

They will continue to do the same mistake since they are just aiming for a quick gain, more on luck base trades rather than equipping their investment with good knowledge and understanding.

Yes, you are right that most of the time they will just lose their money and with the same
pattern of investment/trading the chance of making more mistake is very possible, nothing
will change not unless they will learn and they will try to re-assess the system that they are
using, from that, they will be able to adjust and change the way they invest.

As much as you're right about bad beginning never ending in good results, that is not only limited to cryptocurrency investments but all aspects of daily life activities.
Cryptocurrency investments loss is not limited to newbies. Even the pro mostly lose much kore than the newbies. See the case of Luna crash. Pro are mostly the ones that lost hugely to it.

A bad start in cryptocurrency starts with the wrong risk. If we are talking about investing, the wrong risk is buying different shytcoins, like memcoins or nft, to try to multiply your small capital multiple times. If we are talking about trading, the wrong risk lies in margin trading, where the user chooses exorbitantly high leverage for his small capital. High risk always means high losses, almost 100%.

Those who ignore past mistakes never learn how to avoid making the same mistakes. Such people will never succeed anywhere. including in crypto. they are so focused on profit that they ignore the important things so they don't get stuck in the same hole.

Yes you are right that mate there are many people around the globe earning money through trading but in that situation they leave or quiet their jobs it because they are earning money from trading then all I can say that decision must not be in the top of our mind it because not all the time we earn a lot of money in trading. So it's better to have a steady job in order to sustain our daily needs and wants .

Like trading for example, many people starts crypto trading and earn few hundred dollars in a week with very small capital and make a decision like quit their job or considering about taking loans so they can get huge returns those all are wrong decisions and trading is not something gives consistent results so no one should ever go for full time crypto trading unless they have other sources of passive income.

Maybe if he sells his house when mining rig is still cheap as you can even mine using your laptop and old PC, but in terms of selling your house not sure if you can handle the risk when the huge dump takes place.

It's a matter of how you really understand the business that you will going to take, like now, it's still the same risk and the market is still unstable
without the right mindsets, you might be moved by your emotions.

And from that, losing your investment is really possible, if by chance fear dominates you. Be wise and careful.

  - I think it is right that you listened to your friend who did not sell your house because it is true that the risk of doing so is high. Now, if you still want to continue what you didn't do before, the risk has not changed.

Maybe the risk is even higher now compared to then. Also, it is still not a guarantee that you will get rich from mining because if you only buy one mining rig, I don't think you will get rich from that quantity alone. But you, what's the state of your life now mate? I just want to ask.

But that only happens if that person corrects his mistake and finds a way not to happen again. Because what I see is that many people still don't do it, they just ignore their mistakes and do it repeatedly, and no wonder why they keep on losing. And much more not to expect success from them.
If we wanted to reach our goal, therefore, we also have to change our approach toward our mistakes and consider this as a helping tool to improve our status rather than just ignore them.

a mistake will provide a meaningful lesson, but when we start we don't have to be wrong first because there are many examples that can be used as lessons, namely from other people's mistakes. A bad start in the crypto ecosystem for beginners is a good start for learning. Beginners must go through the process if they want to reach a safe point.

Regarding the message you are giving, get-rich-quick and ponzi schemes are schemes that will hurt the end user and benefit the early adopter. really should stay away from the scheme.

Well, isn't investing in project aimed to earn money?  If there is no money to earn in any project, I doubt someone will invest.  So let us be realistic here.  We invest because we are thinking of profit.  But of course, in order to get our goal of earning more money, we need to work hard on it.  In what way?  We must do our very best to verify every project.  Do our own research and see if the project roadmap is visible.  Also be sure to differentiate scam project from the legit one, short term investment project and medium to long term investment project.  Never get swayed with hype and best to avoid the market when every one is in FOMO, it is best scenario for selling not accumulating.

If beginners expecting something quick when doing investment and don't even bother with the risk and the effort you have to put in order to get something decent there and then they are vulnerable with most of the scams lurking in cryptocurrency world. It's always true that most beginners always look at the value of Bitcoin, because it's really "high" but they don't know the exact way to get there hence that's why when they are losing then they will start complaining about everything even though they don't know anything.

Let's be honest here, even most of the "experienced" users in this forum also fall into wrong/scam projects.

For student? Might be good with money they can afford to lose for some side-income but other than that it's not advisable for primary job

This is the worse time to become a beginner in the Cryptocurrency market, there are so many scammed schemes, unreal projects, and projects that just lived on hype if you are not properly guided and you don't know where to start right away and you are in a hurry to make a profit you're likely to lose money and you will be disappointed and lose your motivation to invest, the best approach is to take time, take it slow but sure read a lot of advice and weed the bad ones and take the right advice, only your decision could help you move forward from a beginner to seasoned trader.

Surely, nobody is willing to have a bad start. But unfortunately, they make it bad at the start. Some of them or most of them only think about how they can earn the money and imagine that they are able to gain profits highly during crypto investment or trading activities. On the contrary, they don't learn anything and do not prepare themselves with enough knowledge, management fund, and also how they manage their emotion. ALthough they don't want a bad starting, what they do makes a bad start. Only a few f them that are aware of this and start by preparing all things, not only following the hype or emotion to be rich very soon by cryptocurrency. This mindset is important enough because this will determine what they will begin.

That's what I am seeing nowadays, people knew bitcoin because of the hype,, they just knew it because their favorite streamer or influencer advertise bitcoin or any other crypto. I just remember last 2021,that's the time of axie, you can feel how many people opening their  site  everyday, it becomes laggy and the team doesn't expect it to be happen. Then the good days are gone, people talk about it as scam, many people loses their money and many people quit their job hoping that axie can save them, they doesn't even know that it is not always rainbows and butterflies in crypto.

Being influenced to social media hype is something one should also avoid. This is not only for newbies but definitely for all traders and investors out there. The fact that a certain coin is published and advertised in social media, it means it’s still starting to be known and is not that reliable and reputable as an investment. Only the hype made it more confident as an investment, but I doubt if it can stand through the test of time like what bitcoin did.

Basically, I won't be lazy on educating myself because I know that I will be more successful later on. Relying on one source is fine for now but if you are done with it, we should take time to do a research and learn from other sources too. When we are equipped with more knowledge we will know if what are the ideal coins to invest with and are more worth it for our money.

It doesn't always end up there, especially if the person gives up too quickly but only if they take their first mistake as a lesson and will try again then there is a chance that they can improve. If we are too busy to learn about crypto then we shouldn't bother entering here because we will only lose if we do.

I don’t know but that is how everyone starts when they are new to something. I am not just talking about crypto space but I am also talking about rest of stuff that we go through in financial domains. The learning process is all about making mistakes however we can always play smart by learning the mistakes from others and then not repeating them.

For every beginner out there, I would give only one message and that’s stay away from get quick rich schemes and ponzi. Rest you gonna learn slowly slowly.

It is just cryptocurrency now is just full of so called influencers, There are so many newbies or beginners who fall because of these hypes, They all believe the word of their influencer that their investment will be lucrative in the future. I hate those kind of influencer hyping up their followers just to make their own asset prices rise. It is so much different compared on when I started crypto where no influencers are dictating on where crypto will go. I failed multiple times when I started and we all can consider it as a bad beginning but  where am I now? Striving to get better and better and it is because on how I see cryptocurrency on my own perspective not other perspective. I experienced few bull runs now and we know where we are headed. These influencers are just showed during the bull market and they are obviously juicing up their fellow human beings.

Nobody wants to have a bad start, but it's greed that makes the worse investment for beginners, they easily believe in the hype they thought that what they already know will carry them and they can trust these so-called influencers, even veterans fall to these newbie mistakes the market is highly volatile and there's uncertainty everywhere just when you thought you're safe you wake up the market is crashing.
Investing in Cryptocurrency is an ongoing learning experience, we should not stop learning and think that we have enough knowledge already.

Yes... learning about cryptocurrency trading is really necessary because it is related to financial issues.  So if we are lazy to read and learn about cryptocurrency trading well, it is difficult to know some of the mistakes we make when we experience losses while trading.

Indeed, right, not all who invested a huge amount of money for mining tools/equipments manage to make a decent amount of money some may break-even while others really got disappointed and quit without anything.

You can make money if you fully understand the process, if you are ready and willing to take
all the risks. From that start, you might develop the right attitude to continue achieving your goals.

So what happened to you now? Broke or success?

Anyways, it is really great to hear successful stories in crypto but all of these things never happen instantly. We also have heard that these people face difficulties and lose a lot of money as well before they got where they are now. So if you will say that if you proceed to mining, we never know as well if you also succeed. Imagine, a lot of people doing mining, investing a huge amount but unfortunately, not all of them reach their goal.

Most beginners who invest in cryptocurrencies hear success stories from other people, in 2014 I was also tempted to mine but I had no capital and was planning to sell my house, unfortunately I was given advice that this was risky, but if I continued mining at that time then I can be rich because mining at that time was very profitable.

It's very essential for every beginners to go for knowledge and proper research because investing in an any upcoming projects without knowing more details about them have a very bad side effects because such project may operates for only short term while does who invested for long term would likely got scammed and the main reason why this opportunity are given to those projects is because the investors do not go for proper investigation rather desperate of making profits.

Beginning with a bear market to me can be called luck rather than a bad start, most newbies are confused and panicking when the bear market happens but if someone is lucky enough to start a bear market, they will taste the rigors of the bears and that will be extremely helpful to them later on, they will have a huge advantage over those who have never experienced bear season. Invest in bitcoin, sometimes we don't need to learn too much knowledge, what we need most is patience and waiting and these are only in the bear market, the bull market cannot teach us these things.

This is what separates sheeps from wolves, not only crypto but everything in life, if you dont know where the hell you are getting into, then dont.

People mostly are lazy when it comes to educating themselves and they just rely on one source and that's it! they will gonna invest in the project of choice. That's why they often ended in a hype project where it is a pump and dump coins. Then they will gonna put the blame on all the people in the crypto industry while there is no one to blame but only themselves. First of all, investment with money needs to be taken seriously, and taking time to read and expand your knowledge to prevent yourself from losing your money is more valuable than rushing to invest in a random project by blindly following promoters who are getting the job they are currently doing. In short, invest time before investing money.

Yes, applying knowledge in cryptocurrency investment is very important to any beginners because it will help you to avoid so many things that will hider your progress when others are making progress in the environment. You can get rich in crypto investment but you need to work hard by carry out your personal research daily to know which coin is good to invest in this bearish that will bring a massive income in the future before investing your money. Don't be an hurry to buy coins in the market without a proper research, if the price will still decrease or it will soon increase in the market before buying and hold.

simple but way far answer , though this is easy said than done because mostly people are seeking for quick result and yes everyone becomes a beginner with this attitude.
when they cannot afford to lose what they invested yet seeking for bigger income in sooner time.
and also this is how people being lured nowadays here in crypto , there are so much scam word coming from outside that people still take and forget their responsibilities for their money.

Me, this is a very common expectation for some people who are starting in cryptocurrency. I also experienced this with some of my colleagues.  They keep thinking that when you buy cryptocurrency, it is easy money. They don't know how really cryptocurrency works and they don't know how many people already lost their savings because of greediness in cryptocurrency. That's why, I can say it's high risk, high reward.

Indeed it would be nice before starting something is to study or study in depth first, and try to have a mentor who can be said to be experienced in his field. Then try to start gradually and not in a hurry, because for me in the world of crypto, patience and not being greedy is the most important thing to implement.

I don't agree with @OP's definition of bad beginning for crypto beginners.  I believe that it will be a bad beginning if a person who wanted to get involved I crypto industry does not do his research.  Knowledge is very important so does the right information.  So I guess, to be able to avoid to have a bad beginning, we must equip ourselves with right knowledge on whatever venture we are going to invest or get involved with.

even though I agreed that becoming greedy in cryptocurrency investments would be a bad news and in this case a bad beginning but the ultimate goal of investing in the first place is becoming rich, as long as you could follow the basic of investing i'm sure you could make some profits in your journey of investments. The thing is, so many beginners in investments making some haste decision that as a result it becomes more of a gambling rather than investing.

In fact, some of them will act first and think later.  And then, what happens is Regret 
Although this is bad enough, many beginners start their crypto investment with this condition. They will start their crypto investment only by following others, not learning at first or even considering the decision. They are only investing by expecting that they want to earn much money after investment. BUt, the fact doesn't run the expectation and then they regret it. They will then hate cryptocurrency and black crypto as well.
This is funny, right? They make mistakes but they blame crypto for their mistakes 

Not everyone starts perfectly. According to me, if an user have got the ability to sustain in the market the he can correct himself in the long run. Most of the time the disappointment makes the beginners get out of the market immediately. Learning out of the wrong decision keeps us on the right track. With cryptocurrency users should have a wide focus, only then it is possible to stay even if we weren't able to understand how things were happening.

Thinking it as quick rich scheme, starting with wrong projects everything is part of the learning. One who sustain this will succeed.

If they are called newbies, they will not be aware of what will happen to them, so they will often have bad starts and does not mean they will have a bad end. I believe that you have lost a lot of money for many years of investment to get today, you used to be a new person, I do not believe that you always win and never lose, even in life.

Without proper knowledge, crypto is not the venue for those who thinks that it will be easy to make money when you invest to this market, the alluring promises is just  a word.

But in reality, there are many newcomers who lost their hard earned money, most are from
scam projects who promises huge and quick outcome. They are all victims of wrong impression
that crypto market is a safe haven for quick to rich schemes.

This is all because of the impression created by people towards this industry. Many non-crypto users view cryptocurrencies as an easy way to get rich but in reality it is not because of market volatility and inconsistencies. Some are even quitting their job just because they've earned a decent amount for the first time not knowing that it won't always be that way. Some are also selling their houses and other assets just to be able to invest in cryptos then complain eventually of their losses. The thing here is that no one pushes us to do something as an investor so technically there's no other individual to blame but ourselves. The best thing to do is to be knowledgeable of what we are engaging ourselves with.

Yep, beginners know nothing, but there's an advantage in that too. Every single one of my friends that came in after me got lucky because they weren't scared or skeptic. They didn't care for fundamentals and invested in a wau that looked random to me. I was rolling my eyes, but they mostly got it right. And they took risks that seemed insane to me. They didn't have traumas from past bear markets so they weren't scared of anything. Some of them cashed out more then me which got me quite bitter.

But i bited my lip and thought that i can learn from this too. I asked them how did they guess and they just said they followed their instict. Which makes sense when you like same things as rest of the newbs, they just saw what someone like them would be interested in. There were no fundamentals involved. They just invested into potential hype.

Most of them got rekt by last 2 bear markets and they somehow lost the touch for it. I used to get tips when they were rolling. Now they are too careful and attached to their bags.

Their ignorance and their unrealistic expectations is what ends up destroying them at the end, they come to this market thinking that earning a lot of money with it is really easy and that they do not need to make an effort to learn how to trade, and if we add that they have expectations which are completely out of place then this accelerates even further the rate at which they will lose their money, so newbies should at first spend a few months trying to learn more about this market so they can avoid the most common mistakes they will make without suffering a single loss.

Beginners are very easily tempted to be able to profit from cryptocurrency because they see crypto prices when they have soared. They assume that crypto can be relied upon as a source of income because it can be traded easily but do not understand the risks. And on the bad side, beginners expect quick profits from crypto by putting in the main money they have in the hope that their profits will double and they think crypto can easily get money back from the initial capital issued

The goal of getting into crypto is to get rich, make a side or main job to earn, that's the real goal, whether a beginner is bad or not depends on the success you get. knowledge is needed without it just risking luck by risking money. As a beginner, my friend taught me not to risk money, look for free coins or tokens or take part in social media bounty campaigns. With that, you can avoid losing money, don't try to buy, make the results of work in a project for investment

Exactly! Failing is a part of the journey especially if you are new in the crypto world, even the veterans still have losses because of the market's unpredictable movement, so, what would you expect for the beginners, right? Failing is way to learn so that you can improve the next time you will take some risks. Moreover, I don't really believe that this time is a bad beginning for the beginners because it is up to them if they will equip themselves with the knowledge needed to survive in this space, so of course, without that knowledge then there's really no luck for you here. Aside from that, this time is not really that bad to start because it is even a good way to start and accumulate coins while you can still buy it at a much cheaper price before the market recovers.

Just think of those losses as lessons and you'll feel better. But the main thing is to make yourself aware of those lessons that you shall take from having the losses.
Because if you've learned nothing from it then you're doing the wrong thing and that's why if the beginners are in here and experiencing a bad situation, look at the brighter side and it's okay as you start but don't settle for it.

Having this bad beginning won’t only fail in Crypto-currency but it may lost likely fail generally in life. Beginner in Crypto-currency got here via many different ways or motivates, I actually not holding anyone by the next for what ever they heard before coming into crypto-currency but where I do is when they aren’t unlearn and learning what’s right for them here.

Emphasis has already been laid to some of your point but for some reason great number of beginners still wallow in the wrong eductions they got before coming. Probably experience is the best teacher and punishment too.

You are right. The problem is OP only sees opportunity in cryptocurrency in terms of investing or Buying crypto coins/tokens and forgets that there are people behind every other aspect of the industry and it is not only related to trading crypto. However, beginners thinking crypto is a get-rich-quick avenue is indeed the biggest mistake most make even though you can be lucky making your first investment and making good profits from it due to investing at the right time e.g during a Bull run as was my case back in 2017 and I have so far learned that usually isn't the case as do many others. 

But most of us also learned from how they walked with our experience which was also priceless. But as long as the loss can be used as a lesson for the future there is nothing wrong with it all because we must really learn from the experience of this new thing.

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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Regards,
PrivacyG

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.