beginner in Crypto - page 4. | Bitcointalksearch.org

Mpamaegbu

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

The way things are, NFTs aren't what any newbie in this industry should be advised to go into. I don't have one myself and that's because I don't get the whole essence of it, coupled with the so many scandalous stories on the idea of NFT. Just stick to Bitcoin investment.

Quote from: jackg on January 29, 2023, 02:35:44 PM

If you're after a way to make money you could look into play to earn nft games (but do thorough research as some will be or are scam).

For real? Do people actually get rewarded for playing games on their devices? I get to see such adverts online but I don't believe it's for real. I think it's eventually going to end as a waste of precious time. The only one I played was faucet and I know how tasking it was. Most faucet sites don't even pay at the end. So, in gauging the whole play to earn thing online as all scam based on my experience with faucets.

ivankoh

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

I do not deny that NFT is fertile ground but for real investment, it is necessary to recognize the value or application that is completely unreasonable. NFT has hype, Yes it's good stuff to make profit. But the NFT is a matrix of great risk magnitude. Entirely newbies can come to NFT but make sure what you know about it before doing any. Sure and safer choose bitcoin, ETH.

Venik

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I wonder why were you interested particularly in NFTs as a beginner? I'd definitely not recommend it as your first purchase, but I'd like to hear your story.

wheelz1200

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

If ypu are a beginner than I say to stay clear of nfts all together. Start off by slowly buying some bitcoin and possibly some other bigger altcoins until you get your feet wet. Whatever you do don't listen to groups trying to pump their bags of low end altcoins. They are looking for people to dump on you.

BitcoinPanther

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

Nope, many investors lose money on investing in NFT. At first the price are so high due to hype, then after sometime the market cannot sustain the demand reason the price plummet. Many NFT project just ride the hype to grab money from the naive investors. Aside from that the economics of NFT is unsustainable especially when it promise % profit every month since most of the NFT project has no funding at all and at the same time other sources that can support the market value.

If you really are into NFT then I would suggest to do your own research and make sure that the project has good partners and backers and the project developer is capable of creating many sources of income that can be put to buy order to support the liquidity of the NFT market.

Desmong

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

There are different NFT projects in the market so you can take a tour to opensea and see for yourself many of the crap NFTs that are available there so you can determine which one to buy and hold for the future. Many if the NFTs I am holdi6are very expensive and it might over bored you so try and search online what will reach your budget.

Xal0lex

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

Welcome to the forum. I would advise you, as a beginner in crypto, to avoid NFT in general and not to invest your money there. Almost all NFTs are scams, they are illiquid and depreciate quickly. Do you want to start your career as a crypto investor with losing money? Then you're definitely going straight to NFTs. Better buy more proven and utilitarian coins. At least they won't devalue a hundred times in a short period of time.

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For me personally, I don't find NFTs interested to invest my fund into it because there is nothing important in putting my resources into arts or piece of pictures that can't be used for any reason rather just hold and it turns to zero while holding (it's entirely worthless of putting your heart earn into NFTs). Well I don't know for you, if you may find it interesting to venture into it, I believe lots of advise have been given to you here so is best advisable to know what you need. As a beginner there are things you should learn and get used to before talking of releasing your funds for investment. However, if you think you are secured and really wanting to invest due to your budget then there is no restrictions it's clearly open for you.

Tessyb

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

I personally won't recommend purchasing NFTs as they're not certainties when it comes to NFTs. Infact there's higher possibility of one loosing out from the purchase than benefiting. NFTs are known to be ridiculously priced as the value is simply based on perception and not on the intrinsic value of the content. I'll rather advise a beginner to go with Bitcoin than NFTs.

SquallLeonhart

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

NFTs are just well-planned scams. 90% of high valued NFTs got its price only through self-trading. It means the creator itself buys it for higher price and then re-sell for 50% discount. So, by creating a fake-hype, they are cashing out hence do not fall into them. For a beginner, I humbly like to suggest to invest only into bitcoin for the budget that you will never think about cashing out for next 10 to 20 years.

When you are planning up for long term like 20 years, you can slowly go for DCA with monthly $50 or even lower to that but in the end, you will find yourself millionaire without any doubts. Keep patiently with highly reliable asset like bitcoin will definitely change your life for sure.

kizlod

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Well, I wouldn't recommend buying an NFT unless you've made some research. If you don't want to, just read at least a little bit about Bitcoin, and if you're interested, then buy it. This is the best starting point IMO.

julerz12

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

If you're looking to flip NFTs chances are you're already too late in the party once you've heard of that specific NFT and you'd just end up holding it long-term just to make even.
Most of the NFT projects nowadays are designed to generate profit for the creator and early minters. So, if you want profits, probably the best thing to do is get in early and mint one rather than purchasing it on a secondary market like Opensea. Though that's just the tip of the iceberg for the things you have to be on the lookout when getting into NFTs.

You can check out this blog about it:
https://geekflare.com/nft-tracking-tools/
https://geekflare.com/nfts-challenges-and-risks/

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Quote from: fuguebtc on January 29, 2023, 07:49:53 PM

Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

I guess you have heard about bitcoin, but you did not choose it but chose NFT because you want to make money fast, want to double your limited capital. There's nothing wrong with all of us wanting that, but I want to tell you that things are not so simple. If it is possible to get rich quickly, then all of us who came before you become rich and opportunities are no longer with you. Newbies should not invest, all newbies need is knowledge, when you have knowledge, you will know where to invest.

Yes, I think beginners need to change their mindset that to make a profit requires a process,
indeed our goal here is to make a profit but we have to think about the right way so as not to lose,
knowledge is indeed very important and not only beginners but all of them need to keep learning.

piebeyb

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I don't see any promising NFTs, it even seems like the NFT market has started to dim since yesterday's bear market almost hit many projects bankrupt, but my advice is that you should just buy altcoins instead of buying NFTs, for fear you won't get any profit and only keep dust in your wallet

Dr.Osh

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

I think 99% of people will advise you not to invest in NFTs if you are new to crypto. In fact, people who have been in the crypto world for a long time are also currently avoiding NFTs as a place to invest. Before starting an investment, first, understand what you are going to invest in. Especially if you have a small budget. Don't make the mistake of choosing the wrong investment when you start your career in the crypto world.

What I can suggest for now is to learn more about bitcoin and altcoins. After that, it might be better if you invest in a popular altcoin that still has a low price and fits the budget you have. it might be better than choosing NFT as an initial investment in the crypto world with a limited budget.

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

NFT is like shitcoin, if lucky, it can bring you a huge profit, but if unlucky, you will lose your investment. I know why you invest in NFT because you want to increase your meager amount, but that is not the way for you to start investing or survive in this market. If you don't have too much money, work hard instead of daydreaming that you can make quick money investing in NFT.
Cryptocurrency is a get-rich-quick market but not easy and not everyone can do it, you need knowledge and a little luck to do it.

Wexnident

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No. Most low-priced NFTs are just hyped NFTs that died down or are ones that will never really go up because it isn't really marketed. I reckon there are some rare instances where they would increase in price but that would be difficult to find, you'd probably be better off investing in altcoins or something. If you really really want to buy NFTs, make sure your reason is that it's you yourself want it maybe for personal enjoyment, or anything else really as long as its not as an investment. I reckon I'd buy NFTs if I were to see some really good ones tbh.

Silberman

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

Do not do it, the market of NFTs is not what it was anymore, you will not make any money and instead you will lose your limited funds in the process, I can see you want to obtain huge profits in a short amount of time with your limited budget, but this is not the way to do it, in fact your goal is mistaken as even if a few people can get your desired outcome, most of them depended on their luck for this to happen and you cannot rely on something like luck to obtain profits since sooner or later you will stop being lucky and you will lose whatever money you earned this way.

GreatArkansas

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

You have no choice because of your budget. There are some NFTs that is cheap but you can't guarantee if they are scam or legit, and I believe it is not based on the price of NFT if they are legit or scam.
There are also some NFT that started with their floor price being high but later on, they dumped and became cheap, so it looks like some altcoins dumped.

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Quote from: raja9167 on January 29, 2023, 02:33:18 PM

As a beginner in Crypto with a limited budget would you recommend purchasing the lower priced NFT's?

I guess you have heard about bitcoin, but you did not choose it but chose NFT because you want to make money fast, want to double your limited capital. There's nothing wrong with all of us wanting that, but I want to tell you that things are not so simple. If it is possible to get rich quickly, then all of us who came before you become rich and opportunities are no longer with you. Newbies should not invest, all newbies need is knowledge, when you have knowledge, you will know where to invest.

Topic: beginner in Crypto - page 4. (Read 770 times)