Topic: best crypto venture for beginers (Read 315 times)
Thank you all for your comments. I have learned a lot from this thread and it has achieved its purpose, so am locking the thread to avoid future spam. As a newbie, one needs adequate knowledge before venturing into any cryptocurrency-related activities to avoid losses.
My own point of view for the newbies is that,for one a starter who has no much knowledge on the blockchain industry should firstly has to go a thourough research to gain more ideas and also to know more about when the changes of price in thr marketcap when the price is going up or coming down so as not to have a gross loss.
However,for newbies if one is to be advice on investing in any coin I think it should be the shitcoin for the reason that they won't spend much or have a reason to say that they had gross loss base on the fact that they are not so knowledgeable about the coin market to know when a coin is to do well or grow or know a good smart contract to invest on,by that one will have the chance to invest a little so as to have a try and see if there instincts were right of the said coin base on their research they made which if the particular project or coin grows then they will be motivated or have the courage to invest more on it.
However,for newbies if one is to be advice on investing in any coin I think it should be the shitcoin for the reason that they won't spend much or have a reason to say that they had gross loss base on the fact that they are not so knowledgeable about the coin market to know when a coin is to do well or grow or know a good smart contract to invest on,by that one will have the chance to invest a little so as to have a try and see if there instincts were right of the said coin base on their research they made which if the particular project or coin grows then they will be motivated or have the courage to invest more on it.
It's very simple. Buy Bitcoin for an amount you can afford to lose. Send it to a non-custodial and open source wallet that is properly backed up and leave it there.
- Forget about trading if you are a newbie and you don't have trading experience. You need to know how to read the charts, recognize the trends, and be able to predict what will happen next.
- Bitcoin mining requires investing in expensive hardware and unless you join a mining pool, you aren't going to generate profits solo mining. It's an expensive venture unless you have some capital to begin with.
- I have nothing against staking, but it involves transferring the ownership of your coins to someone else. Those sites or platforms could experience hacks, exit scams, or have serious bugs which could cause you to lose your coins. All of these scenarios have happened many times.
- DeFi platforms have had various exit scams and vulnerabilities as well. It's also quite expensive communicating and moving your tokens across various smart contracts.
Start with the basics. Buy and hold.
This is one of the most expensive advice I had receive, I was wondering where to start from and how to go about cryptocurrency. If I think about trading, it takes some time and I have to go and learn more about trading to avoid falling victim on scam or loosing the entire aset due to ignorance, but this forum has it all, as all the basic ideas needed were provided by the senior colleques in the forum. I hope new commers like myself will take note and start from the basic, then proceed by learning all it entails. - Forget about trading if you are a newbie and you don't have trading experience. You need to know how to read the charts, recognize the trends, and be able to predict what will happen next.
- Bitcoin mining requires investing in expensive hardware and unless you join a mining pool, you aren't going to generate profits solo mining. It's an expensive venture unless you have some capital to begin with.
- I have nothing against staking, but it involves transferring the ownership of your coins to someone else. Those sites or platforms could experience hacks, exit scams, or have serious bugs which could cause you to lose your coins. All of these scenarios have happened many times.
- DeFi platforms have had various exit scams and vulnerabilities as well. It's also quite expensive communicating and moving your tokens across various smart contracts.
Start with the basics. Buy and hold.
Only buy a coin with the money you can afford and not try to add more money if you can not make a profit because maybe that is just a delay for you.
You do not have to buy many coins if you do not know how to analyze each coin. You can buy bitcoin and hold it because I think that can be enough for you to make a profit in the future.
Even if you want to buy altcoin, make sure you only buy the coin that will potentially increase in the future, such as ethereum, bnb, and other tops 50 coins, but you should search for more info about why you will select that coin.
When you want to invest, you will hold the coin for some periods, so you do not have to worry if the price fluctuates and not sell if the price is down instead of buying more amount if you are okay to use more money from your budget.
Otherwise, you could only hold it until the price is back increase and then sell it.
You do not have to buy many coins if you do not know how to analyze each coin. You can buy bitcoin and hold it because I think that can be enough for you to make a profit in the future.
Even if you want to buy altcoin, make sure you only buy the coin that will potentially increase in the future, such as ethereum, bnb, and other tops 50 coins, but you should search for more info about why you will select that coin.
When you want to invest, you will hold the coin for some periods, so you do not have to worry if the price fluctuates and not sell if the price is down instead of buying more amount if you are okay to use more money from your budget.
Otherwise, you could only hold it until the price is back increase and then sell it.
I created this thread for discussion and suggestions.
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
It is better to first learn about cryptocurrencies along with the risks that will occur if you make the wrong decision. Because the cryptocurrency market is changing all the time. Therefore, as a newbie, you must know about trading. Don't be tempted by the lure of big profits. Because it's about money. If you make the wrong decision you will lose your assets and money. So you have to be more patient to get big profits. And don't be shy about asking seniors who know more about cryptocurrencies and trading.
In my opinion, Pmalek gave you perhaps the best advice, investing in and holding one of the most popular cryptocurrencies will be your best option. Later on, as you learn more about the other options, you may decide to invest a smaller amount of the funds in the riskier ventures.
One thing that I have noticed with some people new to crypto is that they have this wrong assumption that they missed out making huge profits with Bitcoin. So they are now seeking for the next best thing that will make them those x100 or x1000 gains. That's wrong from the start. What makes you think you will be able to identify the next winner in a sea of crap? Some investors will surely get lucky after having placed some money in such a venture, but for the majority, it's just a dream. You are much safer sticking with the things that work rather than trying to pick from those who promise that they will work. 
I will gladly buy and keep holding Bitcoin on a long-term basis to accumulate good profits since am not too skilled in other crypto ventures. Most of the cryptocurrency venture involves high risk which most newbies may not be able to manage.
OP, the problem is that there is no one-size-fits-all solution. Each of us finds his own niche and does what best suits him.
In my opinion, Pmalek gave you perhaps the best advice, investing in and holding one of the most popular cryptocurrencies will be your best option. Later on, as you learn more about the other options, you may decide to invest a smaller amount of the funds in the riskier ventures.
In my opinion, Pmalek gave you perhaps the best advice, investing in and holding one of the most popular cryptocurrencies will be your best option. Later on, as you learn more about the other options, you may decide to invest a smaller amount of the funds in the riskier ventures.
I'd suggest spending a year on the forum, watching videos and reading the literature to educate themselvs. A bit extreme? Yes, but with every cycle we get and an influx of newcomers that get into this because it's the hype and want to get rich fast. I'm sorry to say but without adequate knowledge, there is no long-term happiness in this field.
For the set time issue you mentioned, just a year spent on that forum won't be a guarantee, as most newbies nowadays won't spend that much time. those who want to earn fast money in crypto will not stay on this forum. This cycle is always going on, newbie brands start to enter because of the hype and will come out fruitlessly when they are not able to survive and without sufficient knowledge. 
I'd suggest spending a year on the forum, watching videos and reading the literature to educate themselvs. A bit extreme? Yes, but with every cycle we get and an influx of newcomers that get into this because it's the hype and want to get rich fast. I'm sorry to say but without adequate knowledge, there is no long-term happiness in this field.
Even as a newbie the first thing I did was to get a wallet and having my private keys saved in a safe place, after that I bought some Bitcoin and hold it in my wallet. I may consider going into trading later on but not now so I will continue holding my Bitcoin in my wallet.
bitcoin holding is one of the low-risk venture in bitcoin as you don’t need to do anything just buy and hold, but you must be ready to take whatever action that comes from the market because of bitcoin volatile nature.I engage myself in some trading after I have to learn some trading skills which at this moment are yielding some great profits for me.
Even as a newbie the first thing I did was to get a wallet and having my private keys saved in a safe place, after that I bought some Bitcoin and hold it in my wallet. I may consider going into trading later on but not now so I will continue holding my Bitcoin in my wallet.
Bitcoin value is volatile. Since you hold Bitcoin, you must notice its price up and down. You need to know when to sell or trade it. Otherwise you will lose. Bitcoin price have risen a lot now. It is a little difficult to get profit by buying and holding bitcoin at this extra price. Now you should have earn enough knowledge about crypto market, trade, trade signal. I created this thread for discussion and suggestions.
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
Those things lead to losses not just simply because newbies lack knowledge, they are inherently high risk activities so even with experience it's easy to lose money. Just buying and holding Bitcoin is enough to make very decent profits, why be greedy and gamble with DeFi when the chance of losing everything is quite high?
Simply, Don't try anything that you don't even know or understand about it, even it is trading, investing, yield farming, mining, and other things.
First of all, just learn anything that you may be interested in, ask others if you don't know, search on Google and even the information in Google is missed, search in this forum at first in order to gain much more knowledge about crypto.
Be aware at first that cryptocurrency is not a guarantee to make rich easily, never get very desired on the things that you don't know yet.
Never only see other success and what they got, see what he was doing, his process, and also learn from his process. Not all that you see is as sweet as you see, there are many dramas and also conditions behind a person's success.
And this is also very important for all newcomers (and all people), learning is never-ending, learning basically is very important, and learning by doing with any experience will lead us to be wiser, smarter, and also better enough in taking decisions.
If we are going to invest or doing something in crypto, just ensure that we never pass what we can afford to lose. use our logic and also knowledge to do something, not even only following the people.
First of all, just learn anything that you may be interested in, ask others if you don't know, search on Google and even the information in Google is missed, search in this forum at first in order to gain much more knowledge about crypto.
Be aware at first that cryptocurrency is not a guarantee to make rich easily, never get very desired on the things that you don't know yet.
Never only see other success and what they got, see what he was doing, his process, and also learn from his process. Not all that you see is as sweet as you see, there are many dramas and also conditions behind a person's success.
And this is also very important for all newcomers (and all people), learning is never-ending, learning basically is very important, and learning by doing with any experience will lead us to be wiser, smarter, and also better enough in taking decisions.
If we are going to invest or doing something in crypto, just ensure that we never pass what we can afford to lose. use our logic and also knowledge to do something, not even only following the people.
what are your suggestion and guides for new investors in our midst?
Like what you said, its being due to the greediness of someone. Yes, this aspect will definitely eat you alive and your fund if you cant handle it properly. By means of handling is that you take each cautious before even doing or entering trading. The market of crypto iant comparable to the stocks which has a very high rate of volatility. There are projects worth to monitor but if btc moves against it then every altcoin got pulled. So this is more of a relative trading on major coins. But there are some that retain their position but not all.As a newbie should do a 99% due diligence for yout to avoid possible losses.
since the London hard forks I have been staking ethereum and to a great extent like the profits yielding and am at rest because staking does not have a high-risk compare to gambling and trading, all thou am still at the trial stage since staking feature on ethereum is still new.
I created this thread for discussion and suggestions.
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
There is no newbie that won't be obsessed with making quick money at first, all newbies have greed they can't control until they learn and to me that's fine because we all have a different idea about how crypto works until we later learn that we are wrong, it's good to make mistakes so we get experience in the process Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
My advice is start from beginning and read, read, read and learn, learn to become knowledgeable. It's what newbies or newcomers should do. Isn't it obvious?.
Most cryptocurrency projects are guilty of this abuse of the ice voting system. The project team hires fake individuals to give fake rating on the sites.I just tried voting anonymously on that gemvotes and it looks like it is definitely easy to be abused. Just use a new IP every time you need to vote and it will be just fine. Doesn't look like a good source to find potential projects.
That is not good at all if it really can be abuse just to increase the vote counts and many will fall for the projects that has the highest votes but the result of the vote counts are not what it should be if there is a group or a person that will do this to make it happen where no one will ever know if it is abused or not.One of the good way to begin a crypto journey is to study and gain knowledge and skills because the knowledge is what will guide you through your journey. and don’t expect profits at first it takes time and efforts for the profits to come in.
My advice is start from beginning and read, read, read and learn, learn to become knowledgeable. It's what newbies or newcomers should do. Isn't it obvious?.
I just tried voting anonymously on that gemvotes and it looks like it is definitely easy to be abused. Just use a new IP every time you need to vote and it will be just fine. Doesn't look like a good source to find potential projects.
That is not good at all if it really can be abuse just to increase the vote counts and many will fall for the projects that has the highest votes but the result of the vote counts are not what it should be if there is a group or a person that will do this to make it happen where no one will ever know if it is abused or not. 
I just tried voting anonymously on that gemvotes and it looks like it is definitely easy to be abused. Just use a new IP every time you need to vote and it will be just fine. Doesn't look like a good source to find potential projects.
First understand that bitcoin is not a pyramid scheme neither is it a get rich quick scheme. Don't be greedy, the crypto space is harsh to newcomers scammers are on every platform looking for targets any way they can with cloud mining scams, btc doubling e.t.c. Learn about bitcoin before you think of investing. You have learn the art of trading before trying to open a live account. Although I think the best thing to do for a newbie is buy bitcoin and hodl but what do I know. Lastly only invest what you can afford to lose
The best and most profitable among them all is mining, cryptocurrency mining is the most rewarding because you get paid per second and how much harsh you can provide to confirm each transaction, but it requires high skills in computer programming and also needs a huge capital to set up a mining farm. The less risky and time-consuming one is holding just by buying and storing in your wallet, waiting for the price to rise to cash in on your profits.
Thats not true , and you forgot the Electricity consumption for mining , its only profitable when you dont have to pay much for your Electricity or nothing.And you dont get paid per second , you get paid per accepted shares that your miner making and this depends on how much Hasrate you have and what kind of Algo you are mining.
You should be looking more into mining and how it works before you write something about.
Sometimes Staking is better as mining , and for investing in a mining rig you can buy just the coins and hold them.
The advice I gave is more conservative.
1.I think you buy every time it drops, don't think about selling, most of the sells will not be able to buy back in the end,Because you will feel that you can buy a lower price, in fact, you don't know where the bottom is.
2. I think that some DeFi mining with a relatively large audience can participate, such as SUSHI or CAKE, but CAKE is not completely decentralized, and there is a certain suspicion of being controlled. In my heart, there is an aversion to all centralized things.
3.There is also a lot of learning in the forum. Many altcoins have potential, but you need to have a pair of bright eyes and discover potential projects, but you must be careful not to be deceived.
1.I think you buy every time it drops, don't think about selling, most of the sells will not be able to buy back in the end,Because you will feel that you can buy a lower price, in fact, you don't know where the bottom is.
2. I think that some DeFi mining with a relatively large audience can participate, such as SUSHI or CAKE, but CAKE is not completely decentralized, and there is a certain suspicion of being controlled. In my heart, there is an aversion to all centralized things.
3.There is also a lot of learning in the forum. Many altcoins have potential, but you need to have a pair of bright eyes and discover potential projects, but you must be careful not to be deceived.
The best and most profitable among them all is mining, cryptocurrency mining is the most rewarding because you get paid per second and how much harsh you can provide to confirm each transaction, but it requires high skills in computer programming and also needs a huge capital to set up a mining farm. The less risky and time-consuming one is holding just by buying and storing in your wallet, waiting for the price to rise to cash in on your profits.
Hello, this is not advertising. I just wanted to share a good source https://gemvotes.com/ from where I follow all new crypto coins updates. There are also votes, you can see most voted coins. 
The website you posted is too difficult for a newbies. First of all, it is the defi project, which is very difficult for novices to operate; secondly, the recommended project is not necessarily a good project, meme coins. The risk is too high.
A lot of those coins look quite low cap too which likely means they're low liquidity.
I can't imagine why something like that wouldn't get spammed too if it's possible to vote on it and the most votes received are around 3000, surely you could make your own coin and pay for it to be bumped up the list (by 4000 people)...
Hello, this is not advertising. I just wanted to share a good source https://gemvotes.com/ from where I follow all new crypto coins updates. There are also votes, you can see most voted coins.
The website you posted is too difficult for a newbies. First of all, it is the defi project, which is very difficult for novices to operate; secondly, the recommended project is not necessarily a good project, meme coins. The risk is too high.
Hello, this is not advertising. I just wanted to share a good source https://gemvotes.com/ from where I follow all new crypto coins updates. There are also votes, you can see most voted coins.
As for trading I will suggest to -Newbies- to be use money/time for learning how to trade crypto-currency, like I am doing, am finding it very exciting, from what I have learnt it doesn't mean I won't lose or I would make so much out when I finally trade, but I have always been curious about having knowledge as my background,
I think that goes too for mining and more activity about crypto-currency, my biggest suggestion is have the knowledge.
I think that goes too for mining and more activity about crypto-currency, my biggest suggestion is have the knowledge.
I've never done defi farming, I find it too risky because of those hacks that has happened to those defi farms/pools.
I'd suggest holding most of your balance ~90+% imo.
I reckon this suggestion, this is what I do. Holding everything that I can and if I don't have any important goods to buy, I'll just hold it until I can. As newbies, they don't really have to do that much and they're good to start with holding.
It's very simple. Buy Bitcoin for an amount you can afford to lose. Send it to a non-custodial and open source wallet that is properly backed up and leave it there.
- Forget about trading if you are a newbie and you don't have trading experience. You need to know how to read the charts, recognize the trends, and be able to predict what will happen next.
- Bitcoin mining requires investing in expensive hardware and unless you join a mining pool, you aren't going to generate profits solo mining. It's an expensive venture unless you have some capital to begin with.
- I have nothing against staking, but it involves transferring the ownership of your coins to someone else. Those sites or platforms could experience hacks, exit scams, or have serious bugs which could cause you to lose your coins. All of these scenarios have happened many times.
- DeFi platforms have had various exit scams and vulnerabilities as well. It's also quite expensive communicating and moving your tokens across various smart contracts.
Start with the basics. Buy and hold.
- Forget about trading if you are a newbie and you don't have trading experience. You need to know how to read the charts, recognize the trends, and be able to predict what will happen next.
- Bitcoin mining requires investing in expensive hardware and unless you join a mining pool, you aren't going to generate profits solo mining. It's an expensive venture unless you have some capital to begin with.
- I have nothing against staking, but it involves transferring the ownership of your coins to someone else. Those sites or platforms could experience hacks, exit scams, or have serious bugs which could cause you to lose your coins. All of these scenarios have happened many times.
- DeFi platforms have had various exit scams and vulnerabilities as well. It's also quite expensive communicating and moving your tokens across various smart contracts.
Start with the basics. Buy and hold.
I'd suggest holding most of your balance ~90+% imo.
You can invest whatever you are prepared to lose in other stuff and you might find it easier to learn that way but you might get away with doing some research on stuff and finding ways to make more money - eg exchanges and defi platforms paying a few % on crypto (0.1-8% has been reasonable but for now interest rates are around 0.1-3%).
You can invest whatever you are prepared to lose in other stuff and you might find it easier to learn that way but you might get away with doing some research on stuff and finding ways to make more money - eg exchanges and defi platforms paying a few % on crypto (0.1-8% has been reasonable but for now interest rates are around 0.1-3%).
I created this thread for discussion and suggestions.
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
Haven’t experience over the years the challenges faced by newcomers in understanding what it entails in cryptocurrency ventures such as trading, mining, staking and defi farming, with so many newcomers not really understanding of what it takes to venture into this different cryptocurrency aspect that maximize it full potentials. many newbies end up losing their resources in the curse of these activities because of lack of knowledge because of greed and quest to get rich quick through cryptocurrency without knowing the risk involved.
what are your suggestion and guides for new investors in our midst?
Jump to: