Topic: For those who are just getting started in crypto this 2023 (Read 417 times)

For exchanges, both DEX or CEX, you may see Coin Market Cap or CoinGecko as the consideration to decide which exchange you will use. This includes any information about the rank of the exchange, trading volume, and also other information provided in the platform.
But indeed, it is very important to use only top exchanges both DEX and CEX to decrease the risks. because, although it is a top exchange, there is still always any risk. that is why we choose the one that has a lower risk at least.

Indeed, what newbies commonly do is that they start their investment journey on the hype altcoins which commonly often ended as shit coins. And they will feel that crypto investment is very bad because they lose money. Crypto investment is risky which is why newbies should not put their money as they like without any learning process at first and moreover prefer to choose hype coins. The risks of losing money will be much higher. That is as @pooya87 said.

There's actually nothing wrong in participating in airdrops if the project behind it is not asking for suspicious information but only the wallet address. Someone can easily generate and use a new wallet address for an airdrop just to avoid exposing their wallets and funds to an entity or any scammer.

Keep bitcoin as the first priority while regularly surfing and reading about altcoins as well. I believe it's best to diversify your portfolio and for that one needs to have enough knowledge about every token and coin they have under the radar.

the initial story of someone interested in cryptocurrencies will vary widely. maybe someone started with an Airdrop or did some tasks to get altcoins for free. my friend told me like that. I want to try this but haven't got free time for it and I don't know how Airdrop is good and what is bad. I don't have enough experience in this matter.
I myself started from hearing the stories of my friends who are active traders. I am interested and see good potential in Bitcoin. even though it took me a long time to get started back then. but at that time the first thing I found out was basic knowledge like what the OP shared.

but I prefer to use Trust wallet. and if in the past the trust wallet could not add a new network manually. but this time even on trustwallet we can add a new network just like in metamask. and I think it's more flexible and practical to use. because each wallet always has a separate backup phrase. different from metamask which only has one spare phrase.

and for beginners this knowledge is very important. but my advice for beginners is better to start from bitcoin before jumping into altcoins. because I did it like that too. although it seems like many started out with altcoins and only later learned about bitcoin after experiencing many disappointments from altcoins.

Using metamask wallet in chrome browser and Mozilla firefox browser as a crypto newbie is not a good idea, this makes things easier for newbies to click on links or connect the wallet to the wrong platforms, most times, all in the name of Airdrop campaigns, I have more disappointing outcomes from Metamask wallet getting compromised than every other crypto wallet, this is why I don't like any Wallet that works with internet browsers.

A maximum of the Users suggested that do not dive into the altcoins, I am not sure why as in view their basic motive is to show that altcoins are risky and I do agree with them. Bitcoin is also violent in nature for new users as you know anyone who is new cant be more patient. Luna is an example of a new user who faced a lot of losses on the recommendation of Youtube influencers. Anyway losses in the LUNA or Altcoins might be permanent in sense of recovery from the capital point of view but Losses on investment in Bitcoin are cyclical and recoverable. (Loses here doesn't mean lost funds in hacks or Wallet compromise).

I will advise you not to dive into any altcoin, for now, that's if you want to play safe because the altcoin market is highly manipulated and 97% of all altcoins are hype based. Besides, we're also in the season where the market's next trend is determined by the price momentum that Bitcoin presented. Aside from that, Bitcoin is the only safe haven investment in the crypto market.

I would suggest to newcomers, don't trade without learning the basics. This may look same as stock exchanges but actually it's very different. First, learn about Bitcoin and how to use, store and backup them. There are thousands of altcoins which are here for different purposes, don't jump into them directly. Learn top ones, take your time. There's no need to FOMO about anything. If I learned cryptocurrencies today I wouldn't buy anything before I feel confident, which should take at least a couple of months.

As a newbie totally avoid anything like Airdrop they're basically shit or scam because this will cause you to start liking your wallet to various platforms and hence will expose your wallet for a possible hack and your funds will be stolen. Start with learning everything you need to know about Bitcoin and make Bitcoin your number 1 Crypto as a newbie and you will thank me later, also don't get distracted with all those shit coin out there.

risk notification for those who make cryptocurrency as passive income is certainly a must. Because crypto has a high risk compared to other types of investment. OP will be responsible for what will happen to the reader if he does not provide early warning about the risks that could occur.

2BTC withdrawal limit is quite a lot, instead of having to do KYC it is better to make the most of this limit. the average centralized exchange that doesn't implement KYC is limited to just 2BTC, there may be more for some exchanges. I have almost all centralized exchange accounts, and haven't done KYC, except for Binance as I am a P2P merchant.

for beginners like me I really need all of that, basic knowledge is very important in everything. That also includes investing in bitcoin or crypto.
I've done what you wrote fi above, it's just that I never bought altcoins, I only bought bitcoins.
so I don't really know about altcoins, and maybe from now on I will learn everything too.

As someone who started with cryptocurrency in 2017, I see that the times hard changed a lot.

In the back old days, you'd need to have a Bittrex account, a Poloniex one and probably a Binance one.

But now? Things are a bit more complicated for a beginner - so I'll try to share some of the things that I think it's mandatory for a beginner to know:

1. understand the definition of a non custodial wallet - Within my years working in the crypto industry I've seen hundreds of people losing their wallet to a scammer because they don't know that their wallet was basically those xx words. Anyone that invites their friend should tell them that in order to protect them.
2. don't keep your funds on a CEX - at least not all of them. Unless it's a really really small amount. We've all seen how easy can a CEX fail and the 'not your keys not your coins' saying needs to be remembered any time.
3. learn how metamask works - MM is already a standard in the non custodial wallets industry. It's a wallet that proved its worth, doesn't have a cryptocurrency (yet) and it's widely used by everyone in the industry.
4. Learn what defi is - Learn, don't test yet. Read about all of the protocols, what is a farm, what is impermanent loss,etc. This is something that will be useful in the future - no matter if DeFi will be a big part of the next bull or not.
5. Dont listen to shillers, DYOR - I don't understand people that are buying whatever twitter influencer said and they believe it will moon. It won't. You're their exit liquidity.
6. Don't ape big - Do NOT ape bigger that you can afford. When buying cryptocurrency, there are a lot of things that can go wrong. Don't go big, DCA weekly or monthly into something that you believe it will do well. Any top 100 crypto has a 2-3x potential, for a bigger one - you need to have a bigger risk appetite.
7. Don't go for paid groups - In 99% of the times, a paid groud is a scam where you are the one that is paying to lose money. In 1% of the time, it's a group that has results and will probably turn into a scam at a later stage.
8. anyone that message you first on telegram is a scammer - don't trust no one on telegram or discord.
9. earn crypto - best way to get cryptocurrency is to earn it. This article has some great tips for earning cryptocurrency .
10. dont panic sell - If you've bought something, and you see it down more than 50% over x weeks/months - don't panic sell it. The product might be good, but the market period might be shitty. Ethereum was under $150 in the last bear market and did a 30x in the bull market. Have patience.
11. set targets - Set a target when buying a cryptocurrency. I'll sell x amount of it if the price reach y. It will help you be disciplined and make a good profit.  

Exactly, altcoin is for the later, there are so many things to learn when it comes to altcoin compare to Bitcoin, too many things to be careful about but Bitcoin is more straight forward for newbies, I wished someone told me this years back, because I started with altcoins and I went through hell to understand how to play the game safe.

I don't think with bad advice for beginner start trading in your topic discussing, but have one thing miss about risk notice for all people make Cryptocurrency become their passive income. You have explained all details about decentralized exchange and how to use or connecting wallet for trading, swap and sent to CEX exchange like Binance, Huobi or OKX.

I think MEXC and Kucoin not required with KYC but have limited withdrawing in daily day, you can checked again about both exchange possibility for deposit, withdrawing and trading there without require with KYC, but get limited withdrawing under 2 BTC for Kucoin and MEXC seems have the same amount limited.

Giving advice is perfectly acceptable, but try not to scare people who want to try something new in their life. Because basically those who have jumped into cryptocurrencies are sure to find out about things that they don't know at this point even though they haven't fully gotten them. But by continuing to learn and trying through the application of what he has read is very good, because learning without doing your own practice will not yield any results at all.

If you are just starting to dive into Cryptocurrency for trading, the first thing you need to do is maintain the security of the assets in your wallet. Regardless of which exchange you use, never store assets there. You must always remember the message of the seniors here, without a private key it is not your asset. It is also necessary to pay attention to choosing a wallet to store Bitcoin, the case that happened to julerz12 here can be used as a lesson for anyone.

I think newbies in crypto can start with a biggest crypto, Bitcoin.

Start with test net coins
Start with testnet of altcoins
Practice to create, recover wallets with testnet networks
Practice to make transactions on testnets. Claim testnet coins from Bitcoin, altcoin faucets and use them for transaction practice.

On mainnet, mistakes are expensive and you lost real money on main net.

As a newbie you can't just jump into crypto currency just like that without knowing more about cryptocurrency you've to know more about crypto currency you've to know more because you're investing big funds so you if you don't calm down and read and learn more about it you may lose your funds which will affect your business

A newbie should not jump into the Ocean of Crypto world at first. I suggest he should learn first. He should gain knowledge as much as hen can get. And if he is thinking to invest so he shouldn't invest all money first time. He should start with small amount and should take knowledge how to trade or stake or others things which is better for earning.

A newbie should not start bitcoin trading or crypto trading at all. First observe the crypto market for a while, learn, and then plan to start at the perfect time. A bearish market is always a time to buy bitcoin or other altcoins if anyone wants to trade crypto.
Start with a decent amount of bitcoin and then scale up the amount step by step, otherwise anyone can lose their motivation after losing their entire investment.

Well, I will say that for those who are joining crypto in this year 2023 my advice and opinion to you is that you should first of all know more about the crypto that you have investment inside, that means you have to read more of people discussion and post on here, so you will be 100% sure of the forum you're in and invest thousands of your time, and this should be the greatest forum that you will or always pay attention to, because bitcointalk has brought light into my master life and I am confirming the changed too in my own life too, they're a lot of people that are here since 2001 and they are the legendary with thousands of merits, this are the up leaders that we most go through there pages and read more about them in other to be more successful on here.

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Crypto has been a popular life changing qualified forum that everyone is expected to make money and leave a good life, I suggest the first thing you do as newbie is for you to always keep to bitcointalk rules and regulations everyday, and do not make mistakes in your post or posting things that we results to your account damage, 2023 is a year of new beginning, and how the year will end is also in your hand too, what really matters is your hard work and time, and this is for your own benefits, and attract your own strategies, to enable you to be a winner with a difference, there are no lost in bitcointalk but a permanent wisdom forever.

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My own opinion for those who are just starting in crypto this 2023 the effort you apply everyday in the crypto determine the results you earn and get each day, I have been here and being active is the number one rules in life and your coins are also safe and secured in this bitcointalk forum, there were one of my friend that joined this forum last year which was 2022 he took this bitcointalk very serious and now his thanking me for introducing him into this bitcointalk, as a newbie beginner you have to be a smart and reliable person that has patient in all that he do.