I think it was Vitalik Buterin who said that one should not invest in an altcoin until he owns at least 1 whole bitcoin.
Topic: How Do I invest in Crypto and Which Coin Should I invest in? (Read 139 times)
I think it was Vitalik Buterin who said that one should not invest in an altcoin until he owns at least 1 whole bitcoin.
It's really tricky to choose which cryptocurrency the newbies are going to invest with their money. Many of them are being influenced by a lot of the market's altcoins and they're talking about yielding profits from it easily.
Remind them of the risk and let them know that investing and trading cryptocurrencies is not a get rich quick scheme. I think those two thing will make them think about a few thing before making a decision.But they have their own ways which they think is beneficial for them based from their own understanding.
And they might even think that instead of giving them a warning, we want them to stop and not do the right thing because we don't want them to have a good option, just like that kind of thinking even if the intention is good.
All the information in the OP has actually been mentioned many times before by many other users. But this can be a basic guideline for beginners who are just joining crypto world. However, many newbie today don't care about the technology behind cryptocurrency because they want to make quick profit with it. For them, cryptocurrency trading and investing is an easy way to make money in the near future, and they ignore the risks.
OP, if this thread aims to provide guidance or advice for newbie investor and trader then try to slightly change the title of your thread according to the discussion and provide some important link to read such as thread related to security, privacy and wallet. That's an important part to know beside they want to make a profit.
OP, if this thread aims to provide guidance or advice for newbie investor and trader then try to slightly change the title of your thread according to the discussion and provide some important link to read such as thread related to security, privacy and wallet. That's an important part to know beside they want to make a profit.
It's really tricky to choose which cryptocurrency the newbies are going to invest with their money. Many of them are being influenced by a lot of the market's altcoins and they're talking about yielding profits from it easily.
Remind them of the risk and let them know that investing and trading cryptocurrencies is not a get rich quick scheme. I think those two thing will make them think about a few thing before making a decision.
It's really tricky to choose which cryptocurrency the newbies are going to invest with their money. Many of them are being influenced by a lot of the market's altcoins and they're talking about yielding profits from it easily.
And they're neglecting how bitcoin is the strongest of all the cryptocurrencies that they have. That happens because they're mostly staying to online groups that are built to focus with altcoins and then, suddenly will be abandoned by those group owners leaving the newbies at loss instead of making profits and investing to bitcoin.
And they're neglecting how bitcoin is the strongest of all the cryptocurrencies that they have. That happens because they're mostly staying to online groups that are built to focus with altcoins and then, suddenly will be abandoned by those group owners leaving the newbies at loss instead of making profits and investing to bitcoin.
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I think you can merge this post with your previous post.The first experience could be quite disheartening for a new investor, most times investors turn into hodlers after going through their first complete bear cycle, it makes it easier for one to hold through anything after that.
It is definitely a good lesson. I personally enter this space in 2017 where I can get nearly $3k from some lazy airdrops but then lose all of them in the bear market. At least I learn a few things and know what kind of road should I take, what's my risk tolerance, and so on. I believe 2022 will be the start of the next cycle and I bet it will be harsher than before. No doubt many will quit, but hopefully, some of them stay and learn the lesson. 
Firstly, your topic title is bad. It makes me guessing that you are asking for help. In fact, you are teaching others about your methodology to invest.
Also you forgot about the importance of non-custodial wallets.
What is Cryptocurrency?
Cryptocurrency is a digital currency that is decentralized and encrypted to enhance privacy. Bitcoin, the first of its kind, is based on blockchain technology, a decentralized and transparent ledger system.
Not all cryptocurrencies are decentralized and not all of them can protect your privacy.Cryptocurrency is a digital currency that is decentralized and encrypted to enhance privacy. Bitcoin, the first of its kind, is based on blockchain technology, a decentralized and transparent ledger system.
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Where can I buy Crypto?
You need a place to buy your desired coins and a place to store it. The most popular place to purchase cryptocurrency are cryptocurrency exchanges, there are several exchanges to choose from, such as binance, coinbase, kraken, paxful e.t.c.
Choose biggest exchanges and most trusted ones to trade. Don't store your crypto on exchanges longer than what you need. When you finish your trades, withdraw your crypto instantly to your non-custodial wallets.You need a place to buy your desired coins and a place to store it. The most popular place to purchase cryptocurrency are cryptocurrency exchanges, there are several exchanges to choose from, such as binance, coinbase, kraken, paxful e.t.c.
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To store your currency, you need a cryptocurrency wallet, which is necessary to securely store the code that makes up your coins. You can use electrum wallet, blockchain, or you can use a hard wallet.
Hardware wallet, not hard wallet.Also you forgot about the importance of non-custodial wallets.
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How Do I know which coins to Buy?
The most popular crypto right now is Bitcoin and Etheruem. They are always a good buy.
It depends on the market phase: bullish or bearish and how long you are planning to let your position opens in the market.The most popular crypto right now is Bitcoin and Etheruem. They are always a good buy.
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If you are looking into alts, you have to do thorough research before buying any cryptocurrency. There are lot of scams out there. You should check the coin cap, read the white paper and see if you're interested in the project. Don't just listen to rumours and tweets. Things are usually in fast motion in the crypto space. I honestly cant give financial advice on this subject but I'd suggest if you're investing in a coin you should look at the tech behind it first and then the publicity.
Scam developers are good to polish their documents, white papers and outlines very promising roadmaps. Investors are not IT guys so they can not understand technology behind cryptocurrencies. After the emergence of bitcoin in 2010.
Just to note, bitcoin came into existence since 2009 and as such, bitcoin is 11years and a few months old at the moment considering its 10th anniversary that was hosted in the forum by forum administrator Theymos 2years ago being 2019 as a backup for this claim.Bitcoin investment has turned out to be of great importance to both high and low status individuals of the society in recent time, following the Covid-19 outbreak where people where kept from their jobs and source of livelihood.
So, its important to know and invest right in this context as, many altcoin crypto investments turns out to be scam or just a pump and dump. Sadly, there isn't any specific statistics to follow in course of analysis on which coin holds the most potential but generally the public perception towards a coin could help but not ultimate. So, its of advantage as a cryptopreneur to develop your own set of comfort rules or investigation and investment strategies.
You should check the coin cap, read the white paper and see if you're interested in the project.
I am not a big fan of whitepapers. I haven't read many of them, but the ones I did, mostly give empty promises of a world-changing currency which will be talked about for millennia. I think it was Vitalik Buterin who said that one should not invest in an altcoin until he owns at least 1 whole bitcoin. That tells you a lot about the strength and importance of BTC in this industry when a member of its biggest rival compliments you like that. When I saw you, I mean the Bitcoin blockchain and the people who made it happen.
In the period from 2014 to 2017, I invested in some altcoins, and I can say that these are mostly failed projects today, and those who are still alive are well on their way to becoming so. If you already decide to play a game with altcoins, then you do it by trading in the short term - because it is a game where new coins always replace old ones, with the same old ideas and new names.
Altcoin bull runs won't last more than one year and after each market cycle (about 4 years), many of them are dead projects.Polkadot, NFT are hottest altcoins in the new generation for this cycle (2020 - 2024, assumed so) and they will have serious tests when the bull runs away next one year. If they can survive through bear tests and have some hype upgrades like ETH 2.0, they can move back their all time high in this year. If not, they will die in the hell holes.
NFT won't mean anything for long term. Polkadot claims to replace Ethereum but only times can verify their promises. At least Ethereum should have temporary competitors.
Beginners should not embark on risky investments at all until they understand at least some basics - and if someone does not know what a private key, public address or seed is, they can get into a very awkward financial situation even if they do not choose some altcoin. The problem is that most skip those important steps and be seduced by stories that they can get rich with very little money, they just need to invest in some coin that doesn't really make sense or purpose.
To tell the truth, most altcoins are for nothing and only for pump/dump schemes, and the only way for someone to get rich is to make such shitcoin himself - of course if he has a stomach to lie and cheat others and falsely promises them success.
In the period from 2014 to 2017, I invested in some altcoins, and I can say that these are mostly failed projects today, and those who are still alive are well on their way to becoming so. If you already decide to play a game with altcoins, then you do it by trading in the short term - because it is a game where new coins always replace old ones, with the same old ideas and new names.
To tell the truth, most altcoins are for nothing and only for pump/dump schemes, and the only way for someone to get rich is to make such shitcoin himself - of course if he has a stomach to lie and cheat others and falsely promises them success.
In the period from 2014 to 2017, I invested in some altcoins, and I can say that these are mostly failed projects today, and those who are still alive are well on their way to becoming so. If you already decide to play a game with altcoins, then you do it by trading in the short term - because it is a game where new coins always replace old ones, with the same old ideas and new names.
It is easy to hodl in theory but in real life its a more of a burden for a newbie to bear..the heart aches and worries. You don't want your first investment to go down the drain.
The first experience could be quite disheartening for a new investor, most times investors turn into hodlers after going through their first complete bear cycle, it makes it easier for one to hold through anything after that.Understanding the basics of investing also helps one to hold easier; if you only invest what you can afford to lose, you would panic less during a crash period.
There will always be price fluctuations, but even if newbie think he his losing, he should believe bitcoin is deflationary, and they the price will later increase, although investing what he his capable of investing.
Yes its true, the market is volatile and changes rapidly. This makes it hard for newbies to hodl when the market becomes bearish. It is easy to hodl in theory but in real life its a more of a burden for a newbie to bear..the heart aches and worries. You don't want your first investment to go down the drain. 
To investbin in a coin that has transparency characteristics, built with open source codes, which is decentralized in design and not controlled by any central authority, bitcoin is just the one to go for, which can also be used with open source wallet. There will always be price fluctuations, but even if newbie think he his losing, he should believe bitcoin is deflationary, and they the price will later increase, although investing what he his capable of investing.
About altcoins, no altcoin is decentralized as bitcoin, but they can still also be good for investment in term of value, there are good ones that also increase in price during bull market, like ethereum and the likes, but someone must be careful not to go for shitcoins, some shitcoins are subjected to pump and dump, some can even become dead.
About altcoins, no altcoin is decentralized as bitcoin, but they can still also be good for investment in term of value, there are good ones that also increase in price during bull market, like ethereum and the likes, but someone must be careful not to go for shitcoins, some shitcoins are subjected to pump and dump, some can even become dead.
How Do I know which coins to Buy?
The most popular crypto right now is Bitcoin and Etheruem. They are always a good buy. If you are looking into alts, you have to do thorough research before buying any cryptocurrency. There are lot of scams out there. You should check the coin cap, read the white paper and see if you're interested in the project. Don't just listen to rumours and tweets. I honestly cant give financial advice on this subject but I'd suggest if you're investing in a coin you should look at the tech behind it first and then the publicity.
The most popular crypto right now is Bitcoin and Etheruem. They are always a good buy. If you are looking into alts, you have to do thorough research before buying any cryptocurrency. There are lot of scams out there. You should check the coin cap, read the white paper and see if you're interested in the project. Don't just listen to rumours and tweets. I honestly cant give financial advice on this subject but I'd suggest if you're investing in a coin you should look at the tech behind it first and then the publicity.
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