Topic: My Bitcoin Advice for newbies - page 2. (Read 588 times)

Beginning nowadays have wrong mentality about bitcoin, the have very poor orientation, they believe if the invest in bitcoin they are already rich which is not like that, if you are not ready to take risk by holding, then you are not ready to make money from bitcoin, nobody that’s into cryptocurrency will ask you to deposit bitcoin and he will be giving your some percentage on a daily basis or weekly basis. Have seen people investing in  Ponzi scheme but they still claim they invested in bitcoin.

Anyone investing in bitcoin should be ready to hold, if you are looking for fast money, then bitcoin is not for you, we are expecting bull run to start very soon but nobody knows when it will start so we just make up our mind and hold, the current market conditions we are is for buying, and not selling, make sure you use the medium to bag more bitcoin and you will smile in the future whenever you look at your wallet.

If you are investing in Altcoins, you are taking big risk, we all saw the way lots of people that invested in altcoin lose money in 2022, when you invest in altcoin, the chances of you winning and losing is 50/50, you can easily make good profit and the same way you can easily lose money, so I don’t really encourage people to invest in altcoins, Bitcoin is the safest investment which I believe everyone can make, if you invest in bitcoin, your mind should just be at rest because your investments is save.

Bitcoin is the most reliable but altcoin is the most life-changing investment for small time investors, I know altcoins are too risky and your money can go to zero but that's why diversity is a must as an altcoin investors, if all you have to spare for long term is 1000$ your best bet is to diversify the money onto altcoins, you will make more money than investing all that into Bitcoin.

If you are preparing to invest in crypto then this is the right time to invest in Bitcoin. Invest for the long term instead of waiting for the dip. There is no alternative to investing in Bitcoin if you are an investor can afford to invest enough in buying Bitcoin. Another important thing is to be patient. Only those who can persevere will succeed in the crypto world.

I particularly liked your first point about bitcoin not being a get rich quick scheme as there is a staggering number of people that do believe bitcoin is a get rich quick scheme and then when their expectations aren’t met, they would then tag bitcoin as a “scam” and go on to ignorantly tell anyone who cares to listen on how they lost money through bitcoin. It’s crazy on how many people continue to think like this.

I would partially disagree over your 3rd point. Personally, I try to stay away from alt coins and I don’t bother myself with them. But I know people that, having profited from alt coins would disagree with you. I do think they have their uses as well.

In my opinion, a newbie or anyone else wouldn’t be easily deceived or manipulated if only they take out some time to do some research for themselves. And that’s the first advice I would give anyone; Do your own research and not having to rely on some vague information that you heard someplace. People can be misleading and mischievous. Doing one’s own research would help steer you away from most of these mischief makers.

very helpful advice, I happen to be studying bitcoin, and I found this forum and found your post, and congratulations on your progress, you have penetrated the senior rank.

All the tips are cool, but I'm sorry it hasn't attracted any merits yet..
I'm not tryna say you're merit-hunting or something, but for every stressful and technically written answers, questions or tips like this deserves some accolades -- no effort was acknowledged here dude.... This are simply fragments of ideas from an already written thread....lol, Jesus Christ...
On the other hand, it's gonna be very helpful for them rookies that are still in search of tips like this to foster ahead

Sandra 🧑‍🦰

Most ideal advice for newbies is to make a trading plan and learn how to do with basic charging or technical analysis this serves you as a guide when it comes to your investment journey. You can commit basic executions when ideal to enter or not. If you have knowledge now you don't need to get carried away with those gurus pretending to know all and get FOMO.

Congrats with your rank up too long way for the next rank

It’s never undeniable that most of the newbies still invest for bitcoin in pursuit for quick and huge profits. We can’t blame them because almost all the ads about bitcoin and cryptocurrencies in the internet deal with huge amount of money. So they always have the mindset that if they enter bitcoin investment most especially with huge amount of capital, they will make good returns that will pave way to achieve their wealth and become financially free in the future.

You are right because every form of learning makes one a newbie and since cryptocurrency is a relatively new industry we all consider anyone registering newly here as a newbie.

Even though we may have newbies to the forum but already a good cryptocurrency knowledge outside, but then we try as much as possible to make such statements relatively close to the nearest minimum.

I have been seeing many advise for newbies and I have to know who are the newbies we had been talking or writing about. Well I know that learning a particular thing that we don't have idea about makes us a newbie and with time we can grow from being a newbies to an intermediate in that particular thing. Bitcoin is not some we lead in a day or in a month. It is a continuous practice and learning adventure., Even the pro investors and traders are also learning about the market everyday so we don't have to bother yourselves too much of been bais about the time and stress it can take us to learn a particular thing.

Most folks perceive me as a Bitcoin maximalist, but the fact is that I don't consider any other coin aside from Bitcoin and because of the high risk with altcoins I am always against them.

But that is not outstanding we also have other good altcoins that support and enhance cryptocurrency scalability.

All you have point was right but you can change the point 3. you can hold an alternative coin after doing own research and proper risk management unless you are bitcoin maximalist.

Simple advice when buy altcoin : DYOR first don't FOMO or don't buy no utility coin like shitcoin (you can buy it, but it only for fun)

The list of altcoins is not an exception in investing although we have to be careful choosing altcoins because of the risk of loss, I only believe 2 altcoins ETH and BNB for long term investment, maybe the Op did not add a definition why altcoins are called exceptions because many assume big losses from altcoins, impact FTX and Luna have worsened investor confidence in altcoins.

How to know a good trader and investor ,you will observe that from their start up point they would be more interested to know, keen to imbibe the knowledge about what they're about to go into. For them the knowledge in the beginning is the first and most important factor before anything else like wanting to trade because they feel by trading profit will yield immediately. It's only those newbies that put their minds on the bull run profit from their start up stage that end up vomiting the little they have to scammers cause they have no idea of what the industry is all about , who is who, like they wanna earn before they learn, what a wrong way to go.

OP, very good advice, but I'm afraid that many new members will not listen to you because they think they know better 
When I was still young and inexperienced, I made a mistake like many others and decided to sell some of my btc and invest in altcoin but it was a very expensive mistake.
All the altcoins I invested in failed and only btc is still there.
This is definitely not a project where someone will get rich overnight, but a long-term investment, and everyone should learn to be patient and wait for the right moment to exit.
It is important that everyone is well informed about what crypto is, analyze the market in detail and make an investment decision based on their personal situation.

Congratulations on your success in the forum thus far. You've learned a lot since your days as a newbie and are now on your way to becoming a senior member of the forum. You have some fantastic tips for newbies to learn from, and it's great that you're giving back to the forum where you learned.

Most of the tips for becoming a better trader in the cryptocurrency space have been seen and understood by those who have been here for a while. The market's ups and downs, as well as the crisis, have opened many people's eyes. Those who have learned and continue to be victims of such should be termed due to negligence and should be allowed to live by their own fate.

Newbies should understand and have a proper knowledge of the bitcoin market when they get here. It is one of the benefits of them joining here in the first place. The forum is similar to a school, and those who are ready to learn should look to the older members for guidance.

All the tips are good, but I don't understand the meaning of the expression that altcoins are worth nothing in the long run. Of course, they are more volatile than bitcoin, and you can both lose everything and get a good profit on them, but they are not useless. Even if some are devalued. But when the price of bitcoin rises, the price of altcoins also rises. And ether, litecoin, etc. are also altcoins, but they have taken their good position in the world of cryptocurrencies.

Bitcointalk community has a lot of information you can use into your journey and its a good head start to learn more related to the path you want to take with, to the newbies chase the knowledge by that the money will follow. Once you learn a lot of possible ways to earn, strategies, techniques of other people into the crypto word you can be enlighten for more things. Good luck with your journey to the Senior Rank too OP.

A big congratulation for your one year journey on this forum and for becoming a senior member on this forum. Hope you have learned a lot and will continue to learn throughout your journey here.
The ultimate goal is not only to learn about bitcoin or cryptocurrency but also to learn how to keep them safe. In this time we have many cases where people lose their coins, the people who is losing their bitcoins are mostly aware of crypto but don't know how to deal with the security.

Exchanges are not the safest place to store your assets, keep them in a private wallet to keep them safe.
Most of the newbies in crypto things bitcoin is just a get rich quick scheme, but it is the opposite of this. Here, you need a lot of patient and holding power if want any kind of return. Although patient needs in any kind of investment to see the results you expected.

You are very right mate,ranking up seemed like a problem to me before when I was still a newbie,I looked out for merit for some periods of time,and I wasn't seeing it,untill I discovered that the best way to get merited in the forum is through constantly and consistently making quality posts  without expecting merit from anyone.When you expect much,you get less,but when you expect less,you always get much more than you ever expected.
Always concentrate on making quality posts and  reading people's posts.