How to Make Money in Crypto and not lose it as beginner - page 5.

sheenshane

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Quote from: Wenbing on June 19, 2024, 07:58:50 AM

Quote from: Awaklara on June 19, 2024, 07:55:38 AM

I know there are many doors to making money from crypto. but introduce them to the best.

The upside in altcoins is higher than that of bitcoin. So, asking people with $500 to invest in bitcoin will make them forever poor.

Really? I strongly disagree with this.
But of course, I respect your perspective way on investing in crypto.

IMO, higher potential returns in altcoins come with higher risk, and as we can see, how many altcoins have failed its value over time, whereas Bitcoin has established itself as a relatively more stable and widely accepted now. It seems like you're more into gambling in altcoin but if you can afford to lose that amount you invest and to deal with that high risk so, why not?

As a beginner, I wont recommend investing altcoins.
If you do, make sure you have the amount that you can afford to lose and don't expect too much ROI on it.

Maslate

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Message @Hhampuz if you are looking for a CM!

Quote from: Awaklara on June 19, 2024, 07:55:38 AM

I don't talk much about trading or other things to people who ask me. when someone asks about crypto trading or wants other information from me. then I will just suggest them for Bitcoin investment. Some people are actually very interested in the hype brought by memecoin, and friends asked me about memecoin. but I will just answer Bitcoin is the best and invest there and you will make money.
regarding knowledge and risks, they should have studied it first out of their curiosity.
I know there are many doors to making money from crypto. but introduce them to the best.

As much as both trading and investing in bitcoin can bring significant profits to a person, but I don’t actually advise newbies to trade or invest. I wouldn’t want to be held responsible of their future losses. Instead, I tell them to get to know more about bitcoin and other crypto coins and through comparative research, they will discover it on their own as to what coin got the highest potential to bring them profits.

Now when it comes to trading or long term hodling with bitcoin, I’ll leave it to them since it’s their money that they’re going to risk. They can ask me of my personal views but the last say should always come from them.

_act_

legendary

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Lightning network is good with small amount of BTC

Quote from: Wenbing on June 19, 2024, 07:42:08 AM

2. Spot Trading :
This is a tangible skill that differentiate you from another person. With this you know how to make money trading. But ensure you stay away from futures trading. Use spot trading to start.

Trading is very risky. It can be an easy way to lose money. It is good to invest than trade. Use just small amount of money for trading.

Quote from: Wenbing on June 19, 2024, 07:42:08 AM

3. Airdrop Farming:
This is a low risk way to make money in crypto. Learn the popular airdrop in crypto space. Currently Telegram mini app farming is what is reigning.

But it is good to be careful of airdrop scam and avoid ways that it can lead to phishing attack.

Quote from: Wenbing on June 19, 2024, 07:42:08 AM

4. Investing:
What will help you here is physiological skills like emotion management and patience. You will also need to learn when to invest and when to take profit.

Investing is good but avoid shit coins. Avoid investing in wrong time because cryptocurrencies are speculative.

Wenbing

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There is gold in volatility..

Quote from: Awaklara on June 19, 2024, 07:55:38 AM

I know there are many doors to making money from crypto. but introduce them to the best.

The upside in altcoins is higher than that of bitcoin. So, asking people with $500 to invest in bitcoin will make them forever poor.

Awaklara

hero member

Activity: 1246

Merit: 699

I don't talk much about trading or other things to people who ask me. when someone asks about crypto trading or wants other information from me. then I will just suggest them for Bitcoin investment. Some people are actually very interested in the hype brought by memecoin, and friends asked me about memecoin. but I will just answer Bitcoin is the best and invest there and you will make money.
regarding knowledge and risks, they should have studied it first out of their curiosity.
I know there are many doors to making money from crypto. but introduce them to the best.

Wenbing

member

Activity: 532

Merit: 36

There is gold in volatility..

I have mentored over 100 people in crypto. Some of them think Crypto is a get-rich scheme because they heard someone made $1m from a project. However, most of the time, they get into crypto and get their hands burnt along the way.

Here is my suggestions if you want to make money from crypto;

1. Knowledge first
2. Spot trading.
3. Airdrop Farming
4. Investing.

1. Knowledge First:
This is foundational. If you don't have this you are liable to fall to scam. You need to learn about wallet, exchanges, dexes, and conviction and patience.

2. Spot Trading :
This is a tangible skill that differentiate you from another person. With this you know how to make money trading. But ensure you stay away from futures trading. Use spot trading to start.

3. Airdrop Farming:
This is a low risk way to make money in crypto. Learn the popular airdrop in crypto space. Currently Telegram mini app farming is what is reigning.

4. Investing:
What will help you here is physiological skills like emotion management and patience. You will also need to learn when to invest and when to take profit.

To conclude this, you can learn this from credible YouTube channels and Coinmarketcap/Coingecko education channels.

Topic: How to Make Money in Crypto and not lose it as beginner - page 5. (Read 827 times)