Good day everyone, I know little about bitcoin and I know there are other coins too and during my researches online, I read about this forum from three sites, so that drew my attention to want to know about this site, I am just a beginner and know nothing about here, can you people tell me what this forum is all about, I only know it is about bitcoin but I do not know anything more than that.
That said, this are my questions
1. What is the purpose of this forum?
2. What is legendary? I saw a pinned post and beside it is written legendary.
3. What are the coins under the legendary stand for?
4. What is activity?
5. What is merit?
Do not be offended if my questions look stupid, I just want to be cleared about how this forum works.
That said, I am a crypto trader, I have few advice for that can help our trading life.
1. When I started trading, I thought it was easy and just buy and sell without analyses. Analyses is a requisite to a successful trading. You will need to analyse the coin you want to use to trade, also you need to analyze the current situation of the crypto market.
2. If you want to hold, you need to have knowledge about trading too so you can buy when the market is favorable. I have a friend that bought bit coin at $17000 in few years back, we both knew nothing about holding but the high price lured him to invest, the coin grew to $20000 but later went down to $12000. He lost money and he has to convert the bitcoin back to fiat. But had it been we knew about trading, he will not fall into such trap. It is not good to trade at the top market.
3. For both traders and investors, it is good to be patient, do not just invest because the price of bit coin has risen, be patient, let the coin lower in price before investing.
4. Holders learn trading not because they want to trade, but because they want to hold so they can hold at the right time when price will later rise but not fall.
5. Using indicators to trade can be helpful but they can also go the other way. A good indicator I like using is Relative Strenght Index.
6. While trading, you need to trade with good mind and right sense, be patient, not greedy and be disciplined.
7. Do not trade because other are doing it, trade because you learned about it.
8. Do not believe in bots and signals. Learn, have knowledge and this will lead to experience of how to analyse and predict the market.
That said, in 2019, I was scammed, not that crypto is dangerous but because I only have little knowledge about it. Let us know ways to avoid scammers and also hackers. We should be careful with our wallets, use trusthworthy exchanges, and avoid fake sites and emails. This link will be helpful,
https://www.finder.com/bitcoin-scamshttps://www.consumer.ftc.gov/blog/2019/11/scams-telling-you-pay-bitcoin-risehttps://www.kaspersky.com/resource-center/definitions/cryptocurrency-scamshttps://www.[Suspicious link removed]s/www.businessinsider.com/the-biggest-cryptocurrency-scams-and-arrests-of-2019-so-far-2019-8%3famp