Topic: My Bitcoin Advice for newbies - page 3. (Read 588 times)

Bitcoin is a top project in the market and it have high volatility which results to the massive dump and pump if the market. I'm holding bitcoin with my ultimate goal to allow it to make a bull run up to $100k. Patience is highly practiced when dealing with bitcoin, it's either you make profits or loss, each action will be triggered. Bitcoin can take up to a year before it pumps, there's more chances to pump when the bull season comes, but presently the bear market is everywhere.

Reading more beginners will get better answers of course from us giving advice and also learning to them as beginners only guidance is given how to introduce bitcoin and others about trading as well as investing on the other hand there are additional ways to protect assets in this forum already available just go to search they will find it.

This is important especially when it comes to assets, so they should be able to keep the seed phrase as a private key securely in place and only the only one who knows the safe friend is one more never save on an exchange because it is high risk it is better to store in a non-custodial wallet.

If other people can rank up why can't we? Of course, beginners have to learn a lot, of course, about how to improve in forums, especially in posting contributions. I'm sure they can do that as long as they really want to pursue it and implement it.
There are many threads about how to rank up, of course accompanied by quality posts.

You did actually made some good points, because as the day goes by so are more people getting to know about Bitcoin, and it is our sole responsibility to guide them the same way we were guided as a newbie. So haven said that I will like to add to your advice for Newbies.
1. Never you store the seed phrase to your wallet carelessly because that's the key to your fund.

2. Never you think ranking up on this forum is something impossible because if Mr. A, B, and C could do it, same way can you too, but only that you just have to press the right button (I.e do the right thing while posting quality contents), and you shall definitely find success.

No matter how long this advice is sounded in the ears of the new commerce they will also have the mindset of getting rich quick through Bitcoin.
There are some mistakes that are inevitable for newcomers and they would not rest unless they make the mistakes themselves. Learning from other people's mistake is something that doesn't happen often with new commers.

Most of the people that leaves cryptocurrency space disappointed are people that were supposed to get rich quick within the few months of getting into Bitcoin.
I always tell the newcomers that those who became super rich through bitcoin are few of them that adopted bitcoin when it was worth nothing.
For now you cannot make big fortune through bitcoin unless you are ready to invest a huge amount of money and wait for the minimum of five years

Altcoin is not an option for a newbie, it is less risky to start holding Bitcoin before gaining knowledge but one can not take such risk on altcoins, and in the best interest of your investment bitcoin should be taken as a long-term investment.

Don't hold Bitcoin for the short term unless your are using Bitcoin to carry out daily transactions, such as paying bills, but if you are looking to make your savings in bitcoin, you must be determined to hold for at least 5-6 months and one year respectively.

The first rule of investment also says invest in those assets of which you have knowledge about or if not gain knowledge for them and then invest your money into it.Those people who ignore it invest in hope to earn some quick profits but when it's not happening they start panicking calling it scam or ponzi selling their coins which is a mistake.

Secondly the biggest issue is keeping your funds on these CEX who are in actual possession of your keys through which they can easily spend your funds so you are not owning any bitcoins if they are on CEX so take it out and store them on hardware wallets or non custodial wallets like Electrum with safety of your seed phrases.Learn more about wallets here


On the contrary I would say if you are newbie then investing in shitcoins is the biggest mistake you will make in hope of diversifying your portfolio because bitcoin is the only best option for you while those altcoins are pump dump scheme to make profits for the whales only.You can check on CMC how top-10 have changed instead of bitcoin which remains always at the top.The main reason behind it there's no utility for these altcoins so no long term price surge but if you can trade it short term you can give it a shot but as newbie stay away from it.

In other words, we are the first representation of bitcoin to others because they see us and through what they see makes them to believe that bitcoin is real at first, secondly we need to make efforts in helping them to understand the primary things about bitcoin and how an average person can take good advantage from investing it, bitcoin shouldn't be what people will be scared about who will teach them how to understand it.

Congratulations in advance as you made your way to becoming a senior member in this forum haven't gained the required activities with some merits left, I share from this your experience and the advice is not only for newbies but even for old members like us can share in the implementation.

Within the last one year of my presence here on Bitcointalk and with the level of contributions and help I have gain in the last 10 months here in the forum, and just a few steps away from becoming a senior member, I deem it fit to drop my view and advise to newbies looking to grow the knowledge and financial stability through Bitcoin investment.

1: First newbies, please don't be deceived, bitcoin is not a
    get rice scheme and at that the real riches of Bitcoin is
    I'm your knowledge and not the amount you are aiming
    to accumulate over time, so you may have the capital to
    buy Bitcoin but if you don't have the right knowledge you
    can still lose everything, you can see that from the
    experience of those who stored their Bitcoin on
    exchanges such as FTX and the rest of the other crashed
    exchanges.

2:  Be ready to wait for God know how long, Bitcoin
     shouldn't be taken as an ASAP investment allow time to
     pass give your Bitcoin a long period of time, take your
     lesson from those who bought Bitcoin in the early days
     when Bitcoin price was in the range of cent and $1 and
     locked the Bitcoin away for long and now they call
    whales so they patience paid off give your Bitcoin a long
   time-spacee to mature.

3:  Dont hold alternative cryptocurrencies for the long term
     and if you must own them just know you are just
     gambling with your money, because they can go
     from100 to 0, so altcoin is worthless for the long term.

4: In your quest to make a few bulls from bitcoin trading
   don't trade a bit of what you have not built knowledge and
   trading skills because that is what will facilitate your
   profits in trading.

In conclusion, Newbies take this forum seriously and after you have read the rules of the forum, also take time to read about wallets and wallet securities don't trust anyone on the Internet.

Bitcointalk is a free discussion forum made up of members with a wealth of knowledge and the only price you must pay to gain your freedom is to keep reading and comparing knowledge make your personal research and draw your conclusion in line with acceptable data and codes.