Such an oldee post with good outline point. I wish I had those who were to guide me during my struggling days in crypto, the is one of the best and simple advice that's common to all projects either big or small cap. Cryptocurrency is going big and institutional are all in trying to make the ecosystem go main stream, hence a careful consideration need to be put in place otherwise one may loose all they have built in their entire career.
Another advice that's listed: please avoid futures if you are also new to crypto, its a pure gambling and route to suicide when you do such. You can/could get liquidated instantly.
I was in a group chat with one lad crying how he mistakenly open a margin of $3k with 75% leverage and the total money was liquidated under seconds. It wasn't his intention to put all the funds into that position but mistake and carelessness lead him to that.
Stay safe.
Topic: I hope this helps new crypto investors, do not hesitate to read (Read 598 times)
February 05, 2021, 05:10:38 PM
a good list perhaps, i hope someone pays attention to these lists and follow them one by one. at first you need to take serious the fact that you should only invest what you can afford to lose. this is important so you dont over invest with the aim of making quick numerous profits.
Precisely, emotional control is very important to avoid losing money that you can no longer afford to forget, this venue of invesment is not a quick to richness scheme.
There are lots of factors that needed to consider and studied in order to have a much better chance of succeeding, you should focus with learning more deeper, things are not always relied with luck, it should be by facts and patterns that will give you confidence to keep enhancing your trading experienced.
February 05, 2021, 04:46:58 PM
As a beginner, I would like to thank you a lot for the information you provide in this Porum, so that I can find out what I should learn in the future.
February 04, 2021, 06:14:52 PM
a good list perhaps, i hope someone pays attention to these lists and follow them one by one. at first you need to take serious the fact that you should only invest what you can afford to lose. this is important so you dont over invest with the aim of making quick numerous profits.
February 04, 2021, 03:39:05 PM
Of course, the decision to invest in a new coin has a number of undeniable advantages. First of all, it is low cost. But it is better to overcome the temptation and wait for the listing of large exchanges, since such sites will not spoil their reputation with untested low-quality products.
February 01, 2021, 06:47:18 PM
nice reccomendations. i don't trade - only go in long term investment. first of all try to check business model and founders, it help to understand credibility of the project
i'm also not very trade guy) so these advices are ok. regarding defi, i try to choose interesting decentralized exchanges with good options for liquidity providers - at least the token inside could potentially have natural value February 01, 2021, 05:40:23 PM
nice reccomendations. i don't trade - only go in long term investment. first of all try to check business model and founders, it help to understand credibility of the project
i'm also not very trade guy) so these advices are ok. regarding defi, i try to choose interesting decentralized exchanges with good options for liquidity providers - at least the token inside could potentially have natural value February 01, 2021, 10:44:43 AM
nice reccomendations. i don't trade - only go in long term investment. first of all try to check business model and founders, it help to understand credibility of the project
August 20, 2020, 02:55:53 PM
Right from time I have always avoided these low market cap cryptocurrencies, although there are some of them that do succeed, just like when Ethereum came out from nowhere and became the second top cryptocurrency in the market. It’s all about what you believe.
Most likely this is the reason why people keep investing in those cryptocurrencies that no one knows, everyone wants to invest in the next bitcoin or the next ethereum, scammers know this and that's why they sell their coins as the next big thing when they know very well that they have no intention of developing anything, however people are easily impressed and when they see that someone is so confident in their project they think that confidence most come from somewhere not realizing that they are being deceived. August 12, 2020, 01:45:07 PM
Right from time I have always avoided these low market cap cryptocurrencies, although there are some of them that do succeed, just like when Ethereum came out from nowhere and became the second top cryptocurrency in the market. It’s all about what you believe.
There are things that acts as the key to knowing whether a project is going to be successful or not; when you look at a project and you look at these things, such as the team behind the project, if they are people that you know are quite reliable and are ready to push the project to the top, and you also look at the idea they have come up with whether it is something you strongly believe is going to work out, then you can go ahead and invest in those projects/coins/tokens. And with time you will notice that it will start growing and will be gaining trust of so many people.
And then the number two point you have made, you’re right , website design doesn’t really matter, it’s all about use case and how good the project is. But I think good projects should also be doing their best to build websites that looks cool. To be sincere I’m always attracted all those projects that will have websites and apps with good looking interface, but that doesn’t mean I jump on anything I see without proper research.
There are things that acts as the key to knowing whether a project is going to be successful or not; when you look at a project and you look at these things, such as the team behind the project, if they are people that you know are quite reliable and are ready to push the project to the top, and you also look at the idea they have come up with whether it is something you strongly believe is going to work out, then you can go ahead and invest in those projects/coins/tokens. And with time you will notice that it will start growing and will be gaining trust of so many people.
And then the number two point you have made, you’re right , website design doesn’t really matter, it’s all about use case and how good the project is. But I think good projects should also be doing their best to build websites that looks cool. To be sincere I’m always attracted all those projects that will have websites and apps with good looking interface, but that doesn’t mean I jump on anything I see without proper research.
August 11, 2020, 12:58:42 PM
I totally agree with the statement you gave but the point that is very difficult for someone to verify is number 3, because many of the project team falsified their experience. I mean copy-paste
This is not as difficult as you make it out to be, it is true that many scammers falsify their credentials and their experience but you can easily find that they are lying if you take the time to make a background check on that information, now I know this is a lot of work but if you really want to protect your money and never invest in a scam then this is something that you should do and if possible you should share that information with the community in the case you find something so no one is scammed either. August 04, 2020, 04:44:07 PM
I totally agree with the statement you gave but the point that is very difficult for someone to verify is number 3, because many of the project team falsified their experience. I mean copy-paste
August 04, 2020, 04:27:54 PM
I think some of the suggestions you said above can help many investors both old and new investors and of course before investing in any project to be reconsidered so it is not wrong to invest your money in crypto. on the one hand I agree about real use cases (utilities) or at least the top coins and have also been listed on the main exchange.
August 04, 2020, 03:43:59 PM
Avoid projects that's listed on small exchanges only, they can die real quick, make sure the team of every projects are well determined and hard working, that's left for you to find out, you can try asking real tough questions
August 04, 2020, 03:30:59 PM
Very useful tips for any crypto investor! Avoiding shit exchange, low cap coins are the best decision! If you want to invest your money in crypto, then choose the better exchanges for IEO investment or currency that listed on good exchange! You are right that we shouldn't fall into the trap by seeing a good design website and whitepaper!
August 04, 2020, 03:11:24 PM
How I wish investors can learn from your post. Many are still losing their money because they lack these basic knowledge. These are things that we must look out for before putting our hard earn money into a project.
Unfortunately those that need it the most are never going to read it as they are not interested in learning, they are only interested in getting profits, and they think of investing in the same way we think of the lottery, they think that if they pick the right ico at the right time and they keep holding their coins then they are going to be able to sell their coins for a good price, some of them get lucky but for the most part the rest lose their money as they invested in scams or in projects with terrible developers that do not know a thing and eventually leave the project behind to create a new one.
Those were really good stuff and well compiled list for the reminders most specially for the new crypto investors. Despite of the fact that there are already some threads related on this, there is a point the we need to always make up a reminder like this so that new members in this forum can be able to see those reminders for them to be mindful of what they have decided to engage with is a serious matter since investment will be in need to engage money so it is really important for them to be well informed about everything they must always remember.
To sum up the thought of the list and this thread, it is really very important that you know what you have got into so basically you must know everything first starting from the basics so that you can be equip with needed knowledge you must know about doing investment in this industry so that you will not be mislead and you can gradually enjoy your investment journey with cryptocurrency. Learning before engaging is a must thing to do because without prior knowledge, you will be lost on this industry and might suffer to various failure. Better learn the basics needed and then when you are done, get to engage already.
To sum up the thought of the list and this thread, it is really very important that you know what you have got into so basically you must know everything first starting from the basics so that you can be equip with needed knowledge you must know about doing investment in this industry so that you will not be mislead and you can gradually enjoy your investment journey with cryptocurrency. Learning before engaging is a must thing to do because without prior knowledge, you will be lost on this industry and might suffer to various failure. Better learn the basics needed and then when you are done, get to engage already.
I would like to add to the list.
Cut your loses soon and don't be greedy. While you can enjoy price pumps, you really don't lock in profits unless you sell so it's good to aim to recover your initial investment and then let the rest fluctuate. If an investment or trading position didn't turn out as expected, make sure to cut your loses sooner before you end up holding a bag of worthless coins relative to the value you initially invested. This at least are lessons hard learned from my own experience anyways.
Cut your loses soon and don't be greedy. While you can enjoy price pumps, you really don't lock in profits unless you sell so it's good to aim to recover your initial investment and then let the rest fluctuate. If an investment or trading position didn't turn out as expected, make sure to cut your loses sooner before you end up holding a bag of worthless coins relative to the value you initially invested. This at least are lessons hard learned from my own experience anyways.
I want to add an addition to the wonderful piece that OP has dropped for us all. I say, know what you want from the market.. Why do i say this? as a trader or investor, you need to understand what your perspective are towards certain token you are interested in, is it short term or long term gains ? Or you wanna hodl indefinitely ? This are options you need to answer before investment.
It pretty much covers all the points that must be noted by a newbie investor. Although, I wouldn’t recommend investing in an ICO or IEO either, to the person who has just entered the market without the basic knowledge or anything. Because, only with experience a crypto adopter will be able to identify the real potential coins and tokens and without experiences, people will easily get deceived with fancy promotions.
Moreover, I would like to add few more points to the list that are:
1. Read, research, carry out background check and get familiar with the working of the project and its past movements in the market before you decide to invest your capital in it.
2. Never follow the hype created in the market about something and pour your money by placing any kind of reliance upon it.
3. Always listen to experts of this community. Not just one or two high rank people but you just follow bunch of people before finalizing an investment decision.
Moreover, I would like to add few more points to the list that are:
1. Read, research, carry out background check and get familiar with the working of the project and its past movements in the market before you decide to invest your capital in it.
2. Never follow the hype created in the market about something and pour your money by placing any kind of reliance upon it.
3. Always listen to experts of this community. Not just one or two high rank people but you just follow bunch of people before finalizing an investment decision.
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