Topic: How to Make Money in Crypto and not lose it as beginner - page 3. (Read 823 times)

All that you pointed out is very much valid no doubt, but I just feel like adding more to it, because you mostly talked on how to make money and you didn't talk on measures that should be taken not to fall prey in your investment and not to lose money.

And one of them to me is greed, greed in crypto can be very destructive to an investor because you already knows that aside Bitcoin, it's very dangerous to invest in any other alt coin or shit coin there about, but due to greedy, you will still go ahead to invest in shit coin because of 50x or 100x, which in most cases, it's more likely to end in losses, and it's because of greed you will even get to that space in the first place.

Another thing is lack of knowledge on how scammers operate, as a newbie, if you don't know how scammers operate and how to counter them, you are very much bound to lose money at some point in your investment journey.

Most tokens now with compatibility in other dex get listed fastly than before actually. They might not be listed on major exchanges but they are indeed can be exchange to other coins or fiat due the help of dex. But it also good to note that trading volume matters, so famous/hype airdrop will generate more income, well, it will still based on number your airdrops on certain tokens.

This is the problem we keep having all the time. "Someone reached out to me and demanded that I trade her funds on my account, with a monthly or weekly return of interest split in half.. all I told her was that she's lucky she discussed it with the right person that'd advise her; my advice was that she shouldn't dare to trade without having the knowledge on her own
Exactly!
I'm afraid I'll have to disagree with this statement.. Telegram "play to earn" games aren't paying shit. Following airdrops is like scalping - nothing controls their listing process... It takes years to happen and mostimes, doesn't even happen.

This interested points to make money in cryptocurrency with free, join an airdrop project and be diligent to make research or getting information about airdrop project. Recently many people have dedicate their self make airdrop as main income after receiving much money and easily earn much from airdrop project.
Then allocated few percent or airdrop reward for investing and most of them need skill or knowledge before holding their assets in top potential coins as short or long term investment.

Participating in airdrop is low risk earn or make money in cryptocurrency because not spent capital such as investment and we got reward from airdrop by free after completing all task needed. But don't forget for investing in cryptocurrency after earning or making money from airdrop project to avoid some time airdrop not be popular anymore.

Trading requires a lot of knowledge/skill, and i know "knowledge" is first on your list, but sometimes i tell beginners not to go into trading, even if they feel they have garnered knowledge for it. Better to start off investing in bitcoin for the long term using DCA method and if you are able to grow your investment, you might consider trading with a little part of your assets or profit.

That being said, the days of earning from airdrops are really far behind us, it is an uphill task to even find one that is legitimate and the returns are too small and a waste of time, i wouldn't advise newbies to waste their time with airdrops or faucets.

Now, I get what you're saying about the safest path - ideally we could all just buy some coins and sit back to watch our money grow.  Sticking with the big, established ones minimizes your risk of losing everything.  And for most average investors, that's 100% the way to go.  But at the same time let's be real - skilled traders can totally cash in by playing the dips and peaks. And getting behind new projects early before they blow up big, that can mean way bigger returns than sticking to the big dogs. So while parking your money in BTC or ETH should protect your investment, other moves let you chase those sweet, sweet profits.

I'm just making the point - there's upsides and downsides to every strategy here.  It's complex very rarely a simple yes or no thing.

Eventually everyone will come to know that they are better off investing and holding for long term than to try various ways of earning through crypto.
Surely some can make profits through other ways like memcoins, NFTs, staking, DeFi etc... but the amount of profits made by holding crypto for long term beats all the other methods of making money in crypto.

Thanks OP, i love the fact that you put the knowledge of the crypto space first because as little as Airdrop farming is you can still lose on it but with the understanding of the crypto space you will know what to do and when to do it. Actually spot trading and some form of investments like Flexible savings,  Launchpad staking and even PoolX staking on Bitget is a good opportunity for the newbies to make profit in the crypto space.

Well said OP, you listed out valuable points that would guide newbies and help them make money. The truth lies in openness and risking what can afford to lose while investing, and also other passive income like airdrop farming requires time, patience, and effort of which you benefit from later on, probably it's always a game of win/loss. This will do more good, newbies can choose the one they are convenient with and leverage on it before indulging in others.

If I am introducing anyone to crypto, what I do make them understand first is that bitcoin investment is not a get rich quick thing. I will like to change their mentality if they have the mindset of making quick money from crypto, because most newbies joining the crypto space always have that mindset.

Even if you have the knowledge first, there is no way you won’t be losing money. The theory aspect of learning about bitcoin is different from practical aspect. If you are learning about the theoretical aspects, then you won’t be losing money, but when it comes to practical, then you are going to be losing money.

Using spot trading is just better as a newbie compared to putting your money in future trading. Not that you can’t lose money in spot trading, but the risk is just lower than that of future trading, so even if you are trading on spot, do that with the amount you can afford to lose, because loss can also set in.

Only the knowledge of spot trading will not help you make money in trading; you need extra trading skills such as technical analysis that will guide you to read the crypto market and also know when to enter a trade and when to leave a trade. Secondly, as a trader, you must be able to know if there's news that will influence the price of a coin to dump after you have bought the coin so that you will not be at a loss. I think investing in bitcoin for the long term should have been used instead of trading because no investor will lose money in bitcoin unless he or she invests his or her whole money in it. And in bitcoin investment, you don't need to have a lot of knowledge about bitcoin before you can start it.

A very good and beginner friendly template is that which you have stated above and for beginners who are very keen and committed to getting money from crypto, if they diligently follow up with the above, they are going to able to make money of crypto but it will take some time. Airdrop farming has been one of the ways to start a crypto journey even without necessarily using your own money to start and at the end of the day you can still get to make money of the crypto space when the coin or token lunches and the airdrop is distributed. b But as a beginner, trading isn't a very advisable path to tread almost immediately because eventually you will exposed to a very high risk and volatility which may sometimes not be healthy or friendly with your pocket and will cause you a whole lot which in some cases it may mean all that you have been able to save or invested in your portfolio. Investing to a great extent is even at some point more safe as a crypto enthusiast because you can be sure to to get hit so badly by volatility when it comes except you are holding too long enough much more than expected then you can be hit by volatility.

I am doing this lately, even though I do not consider myself a complete beginner. But I guess there are some steps in Airdrops hunting as well. Some people do exclusively free airdrops that do not require money. Some others spend gas fees only to farm points like checking in. At the same time, some others are doing pro airdrops farming by investing money in new platforms.

I have invested around $800 on Blast ecosystem airdrop farming which is going to end on 26th June and I am expecting a good profit from it. I am also building a small telegram community for airdrop guides. If someone want to join, you can hit me a DM.

That is not true either, investing in bitcoin is also profitable for even people with low capital and they can still be profitable, only it woudl take them longer to achieve that, a person can decide to use his 500$ monthly earning and invest in bitcoin with the DCA strategy allowing him to keep on buying bitcoin at intervals for a long period of time, the power of this is through consistency in accumulating bitcoin with little amounts untill your are able to aquire a huge stash of bitcoin and if the price of bitcoin increases exponentially within those years of your accumulation then your ealier coins would already be in profits. Long term investment is the best approach to bitcoin and I do prefer it over trading.

I like the steps you gave on this. Because insight must be the most important thing and must not be overlooked or moved to the back burner. Learning and understanding the crypto space itself is a must for anyone who really wants to make a profit from this field. Because everything cannot be produced instantly. Everything requires certain processes and stages that must be passed. And increasing insight is the first thing that must be done. Because through this we will know the basics that will make us more confident in the steps we will take. From this we will also know that there is a potential behind which there is always a comparable risk. After that, you can also try trading on the spot market. Some people even start by hunting airdrops and they learn while hunting airdrops. And that's not wrong as long as knowledge comes first. So that we understand which airdrops can benefit the participant and which don't. Because there are too many airdrop scams that can destroy the enthusiasm of beginners. but if we already have insight then we can minimize the risk of being deceived. Trading and investment can start when we are ready with all the materials and if we are also ready with the special capital that has been prepared.

No one can decide if a person's life will remain poor or become richer with their Bitcoin investment. it all depends on the ongoing understanding of the person investing.
I'm just trying to emphasize that people who are just learning should start with the least risky assets. Be aware that more beginners in investing or trading are very hasty in choosing assets. because they are eager to quickly see their portfolio have value.

understanding will grow when they do it directly. and indirectly they will learn new things gradually.

I guess there's no need for a further explanation for this one. Knowledge is power. That's the famous quote that's been used by many people and it's true. No knowledge, no future. I've seen investors who lost their money in the past when it comes to investing because they focused on how much profit they can get rather than learning first at least the basics.
Not recommended for newbies and beginners because trading is a very risky way of making money in cryptocurrency. Well, if you're ready to take losses at the start then I guess you can still try, but for me, I don't recommend doing this.
Low risk? I don't think so because I've seen some projects in the past that ended up as a scam or rug pull. Some projects will lure investors saying that they will make an airdrop and for you to qualify, you need to add some bucks on their website through liquidity pools, staking, etc. and at the end, they will just scam you. This year, airdrops have been a success at least for the first half of the year, and with many upcoming in the future, I guess I can say that airdrops can be a good way to make money ONLY if you have some money to invest because nowadays, you need to spend a few bucks (through transaction fees or liquidity pools) in order to get some free tokens.

As for telegram mini app farming, since it's that easy to do, many will jump hence, many will get the allocated amount and that will make your share way lower.
We are in a world where we invest to make money. Like what I said in the first one, this is self-explanatory because we are into crypto where we need to invest to make money.
Care to share some? For sure, that would help some newbies and beginners out here.

Those who don’t know a thing about crypto get fooled easily by what they see or hear, once they hear that a person was able to make some money by also want to join. Joining is a good thing but do not be reckless and join without seeking knowledge.

Knowledge should be the first thing you seek as a beginner if you don’t want to end up losing your money because cryptocurrency is a very risky investment and when you don’t understand it it will be difficult to make money from it.

Yeah, without valuable knowledge one can not earn through this space , the chances of one losing his money is really high without any valuable knowledge that's why is always advisable to go into research to gather valuable knowledge before going into anything mostly when it comes to earning in this crypto space because just as one can earn good money in this space with good knowledge that's how one can still lose through this space due to not having good knowledge.


For those who are interested in trading, expecially for those who are new to it (trading) is better to start with spot trading than jumping in trading with leverages, due to the mindset that most newbies usually have , that trading is a get rich quick scheme, they usually go into trading with leverages ( future trading) without any solid knowledge on how trading work and at the end they will only endup getting themselves reckt. So is better to take your time and learn more about trading before going into it because inorder for one to be successful in trading some technical knowledge is required.

for beginners the first thing they need to survive in the crypto market is good knowledge, with this knowledge beginners can avoid things that can make them lose or how they can make better decisions in their trading. because when beginners lack knowledge, then what will happen is they can lose money because of hasty decisions or they miscalculate which leads to placing the wrong order and that can be a loss. and because of this it is important for beginners to learn and develop their knowledge, so that it can help them survive in the crypto market and get the profit they expect.