Topic: How to Make Money in Crypto and not lose it as beginner (Read 837 times)

Too many people believe trading is something you learn from two or three YouTube videos and after reading a tutorial. But there are so many aspects that beginners don't consider. It takes a lot of time and work to build up the experience to become a good trader, and you will make mistakes even then. In reality, just buying bitcoin or a cryptocurrency you like and holding it is better for most than trying to swap and trade to increase your bankroll.

I wrote, Here Is What Can Happen If You Want to Trade Cryptocurrencies, but You Don’t Know How a few years ago to warn newbies not to take trading lightly. 

To reduce your losses in trading the only thing you can do is to avoid doing trade while your knowledge about bitcoin and crypto is so narrow. Since usually you commit mistakes if you have lack of knowledge towards what are those important key points that need to consider before taking your decisions on what coins you are going to trade.

But if you come up on getting a lot of ideas then not rush everything especially taking bad decisions then for sure that later on you can avoid getting wrong actions each trade you made. But also of course we still need to be more careful since we know the market is unpredictable so that means we need to pay attention on our trades even if we know how to do it since market movement doesn't give any guarantee to anyone.

But as a beginner, you can still reduce the number of mistakes you make before you finally learn how to trade and reduce your losses.
 
I believe one of the reasons why some traders add their mistakes and trading experiences online is for people to watch, read, and learn about them so that they can also avoid making such mistakes again in the future.
 
Mistakes can't be avoided completely, but most times we can use the mistakes made by other traders to enlighten our crypto trading knowledge.

I was also a victim as a newbie. Mine happened dramatically. I joined the forum when it was a period of bull run 2021. I ventured into trading, and coincidentally the coins were rising and falling. I'll buy low and allow it rise and cash out, I was happy and thought I have learnt how to trade. This happened until bull run was over, that was when my losses started and I realised I had many things to learn in cryptocurrency trading. But to cut the story short, I finally gave up trading after I thought I have learnt somethings but my emotions failed me.

Yes, you are right. No one helps in the beginning. It doesn't help with proper guidelines; we must learn from mistakes. The more mistakes we make, the more we learn from them and aim to avoid making the same mistakes in the future. No one teaches someone by hand; you must know yourself and strengthen your foundation. Problems must be faced, and one cannot enhance oneself. Be firm at any moment. The only thing that must be achieved anyway is to smile in victory at the end.

you are a beginner definitely you'll make mistakes in the start since no one is there to remind you, and sometimes they are the one who will put you in that situation, you know why? there is no perfect recipe for it and since you are a beginner it will happen, tell someone who did not make any mistakes when they are starting, the best thing to do if that happens to you is learn from it, don't stop make things better that's life you need to go forward no matter what happens be strong.

Yes that's right many people new to cryptocurrency think trading is an easy way to make money but they ignore warnings about its dangers. They mostly lose money because they do not take time to learn and gain experience. Trading requires skill and knowledge which come from dedication and learning. Learning takes time and experience teaches valuable lessons. More we engage with cryptocurrency community and learn better we will be at navigating space and avoiding costly mistakes. Knowledge is indeed power and in this case it is the key to making and keeping our money safe.

if you say this to beginners then they won't understand, there are also many beginners who get the doctrine of don't put all your eggs in one basket, so they have not only bitcoin as their investment in crypto but altcoins as well. 
I still recommend being stable in making money wherever you are because holding Bitcoin in the long term requires strong determination and discipline, don't stop in the middle of the road because you run out of money and end up selling all the Bitcoin you have.

By being knowledgeable, you create bigger possibility to make your investment work and prosper. Rather than to rush into investing without sufficient knowledge on your planned investment, it's like you are allowing yourself to fall into scams and eventually lose all your capital. Take time to learn prior to making investments, because as what majority say, knowledge is power, and when you have power, you can positively navigate your investment the best way possible.

I believe in all types of investments, there are still chances to lose. No matter how good or expert you are, losing is still inevitable. But if you know well what you are investing, you will certainly lessen the probability of losing, hence increasing your potentials to gain and earn an income.

Buying and hodling is proven safe and profitable, but I believe it's easier said than done. If you can't be patient enough and manage all those risks, you will still end up losing your bitcoin investment.

Almost every newbie in the cryptocurrency industry sees trading as the easiest way to make money. Even when you advise them that trading is risky, most of them would not hear until they try it out themselves. So many of them regrets after trying it because they would not be patient enough to learn the skill of trading before trying to trade. It is after they must have failed that they will understand that trading is not for everyone.

There is nothing better than learning when you don't know, it is learning that leads to earning. When you have learnt enough, you would not easily lose your money for any fake Project. Learning is also not what is done in a haste, experience also is part of learning. The more anyone stays in a forum like this, the more experienced they get in things about cryptocurrency and Bitcoin in particular.

Making money in crypto market is difficult most especially a beginner who has not gotten the basic knowledge, although knowledge is needed as mentioned but trading is not so easy and I don’t think any beginner can earn so quick without a solid knowledge. I believe trading with the right strategy matters so beginners still have a long way to go when trading in terms of profit making. Secondly, I’m not into Airdrop Farming and there’s nothing so special about airdrop farming, the fact is being lucky at the moment because sometimes you spend your time and effort farming fake projects, as a beginner it’s always best to make research before going into different kinds of airdrop. Investing also has to do with trust and bitcoin at the moment is a good choice for any newly investor but, bitcoin investment doesn’t come with fast profit rather a long term investment plan will yield profit.

Of course knowledge is the most important thing as Long as it has to do with money we really need to take our time to acquire the knowledge first before looking out to any other thing, so as to avoid losing our money. However if You're talking about the means to make money in crypto, spot trading and Investment is not included reason is because you can't make money from spot trading or Investment when you don't have a capital to start up with, you can't make Investment when you don't have money. But you can make money from airdrop without spending money so I think airdrop farming is the best way to make money in crypto the only thing is that you will need to devote your time in doing those airdrop.

The simplest way and with minimal risk and effort is just buy BTC and hodl.  All we need in this is our patience.  Unlike participating in airdrop where we have to do some tasks that sometimes require KYC and end up being disappointed by getting worthless tokens, or trying to trade and ending up miscalculating the trend of the market and ending up shorting at the wrong time,  holding enables us to not get too concern about the short term price of the Bitcoin market and saving us frustrations and fears.

Just like the many of us stated, trading is not for beginners so better to learn the curve of trading first before engaging in cryptocurrency trading activities.  If one is just a newcomer to cryptocurrency, it was advised to keep away from trading until one has fully grasped the concept and the system of it.


No one can generate income without money, even online freelancing requires money since one has to have funds for the devices and gadgets needed for the task, the internet, and electricity that one has to pay at the end of the month.  If you omit having no money on the way to make money, you will end up with nothing since you can't have the needed materials in the process of creating a source of income or money.


This contradict your earlier statement :

As far as I know, growing money either from jobs, business or investment is also considered making money...

They say nothing good comes easy and but not all people's understand the sentences, and that's why some people's are talking crypto where they earned money quickly, I know that there some airdrops that a person can become rich but with that not all people's have the knowledge about the scheme.
The knowledge is the best key for that everyone most see for before starting whatever a person want to do in this life, especially in crypto anything about the crypto need a enough knowledge that will leads you to know much about the defference wallets and how the cryptocurrencies operates.
When is coming to an investment I always support anyone that wants to introduce his to invest, because the investment is like trading that have much risks, but the investment also deserves a a concrete background, that in even future will not have so much losing. Because once you know everything about part of investment everything will be come easily and again if you want to invest take the amount of money that you can afford to lose.

So true, these are the first steps any person interested in building investment in crypto should start with before pulling in a cent into it. It amazes me when I get in contact with some new crypto enthusiasts who can't differentiate the difference between a cold wallet and hot wallet and which is best for use in terms of high security .. To them they are wallets for cryptocurrency.

I think I will still recommend at the beginning for a new trader to perfect their strategies using demo trading before going life with spot trading. Moving straight to spot trading would mean that you'll be losing while trying to perfect and understand your strategy avoiding jumping out of trade in loss due to a lack of confidence on your strategy.

Am not just comfortable with airdrops due to their associated risks though people do make money from them despite their risks. To stay safe with airdrops connect with burner-wallets. Burner wallet is a wallet you don't use for other transactions or don't keep money in.

Personally I think crypto airdrops are one of the best ways to make money in the crypto space without losing it cause making you are only doing a task for them and not investing any money into it, trading is risky and even professionals still lose money and it can take long years of practice to grow confidence in trading, so yeah airdrops are the fastest way.

I strongly disagree with you while respecting your opinion. Why are you tempted to ignore the downside of Altcoins and look for profits?
Maybe the profit in Bitcoin is less than the profit in Altcoin. But while there is a possibility of losing everything in Altcoin, Bitcoin will keep you safe from this. I'm not saying that bitcoins don't have losses, but the risk of losing everything is very low. As the alt market is extremely volatile, the coin market is likely to be bearish for a very short period of time and the chance of recovering that price is very low.

It is applauding to learn that you have mentored hundreds of persons on crypto industry, I also think we should not be too in a haste to spread the little knowledge we may have grabbed when we have not exercised deep to the crypto industry otherwise, we might only spread false knowledges or preferably to say skipping to discuss about the basic os primary terms but jumps over to the secondary or technical terms may not be advisable considering how to guide beginners.
I learnt that there is no rewards to pride about your holding of assets in the crypto industry because staying anonymous and keeping your key phrases private is the first encounter of your winning in the crypto industry.

I don't see spot trading and investing are ways to make money, because you must have the money first.

Only airdrop is a way to make money because you can start without need to deposit, it just you might get scammed or get paid too low.

So, if you're looking to make money without skills, it's better if you learn something or get a job in real life, you might earn more by working in real life job. Working in real life job and invest the money in Bitcoin is a good way to grow your wealth.