Topic: My new year advice to crypto newbies (Read 398 times)

Life is a very complicated procession; they're other people out there that will have these advices as thoughts in thier minds already but will still thing it isn't relevant or he's gonna be careful whenever he's doing something that goes to the contrary of his thoughts, but he messes up everything at the tail end just like what he was avoiding previously
 These should be modified and made as an important and compulsory thread to read for newbies.
 Diverse things are happening to newbies in crypto everyday because of thier ignorance; this word is not an excuse ..for the ones that have been dubbed already, lessons learnt are very imperative: for the ones that are not dubbedz BEWARE!!

You have just made a good point about cryptocurrency can make someone rich over night and  also can make one loss all overnight.  Newbies needs to always understand this concept about cryptocurrency. Newbies must also try their best to learn before thinking of earning, learning builds a solid foundation.

You need to make up your mind first even if you have any experience, to learn a new thing you need to make up your mind that you really want to learn something and that's the first breakthrough, mind works for to put any experience in action that's why I said follow your heart, I found my way when I stopped following people's opinions, I found my capability using my own way cos I follow my heart

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You are welcome odusko, remember you are you find your own way yourself, just because you can learn from others doesn't mean you should follow same path as theirs, crypto space is full of opportunities you need to be different and you will see things more clearly

[moderator's note: consecutive posts merged]

Nice write up,thanks for your advice, I think it will be good for newbies like me to learn all aspect of bitcoin before dive into trading in order to avoid mistakes, you can learn from other peoples experience,don't wait till you make mistake before you learn,don't be too greedy to invest much when you are a beginner ,you can start gradually and progress because price of market is not stable.
My regards
Odusko.

Actually, it is not only about following our heart but also our logic based on some analysis to be considered. Only following our heart without any logic and analysis will commonly drive us to use only our emotional decisions. But, for the case of knowing our own limit, I exactly agree with that.

For now, I can't believe this because people need to work very hard and we always see their success shortly, whereas they have been doing and struggling for many times ago, but seen as an overnight achievement. Just do what we can do and struggle maximally, learn anything that will be worthy for us in during crypto activities, moreover about the thought of being rich overnight, put aside that thought and focus on your way, not what other people achieve. Every achievement needs a process and you also need to do those processes. You may get rich because of crypto but on the other hand, you may also be poor enough because of crypto. Be wise and smart enough.

sorry to oppose you OP, but I do not think that the amount of risk one takes determines the level of his success, one could take hundreds of risk and still not achieve up to what a person who took just 1 risk had achieved.
While taking risk, be calculative enough to know the chances you have.
It's in the quality of  decisions you make and not the number of risk you take.

never relent, the journey to financial stability and freedom has never promised to be a sweet ride, they'll be lots of pressures, a few loses but you can do better if you work harder, the success of your tomorrow isn't measured by how many failures you've had today, but it's measured by the quality of the decisions you took while failing.

Be guided and never get tired of asking questions where ever you find difficulty in understanding.

I dont think following your heart into crypto investment is needed, you just need a lot of research on coins you are going to invest, think 100x before buying and spending your hard earned money in crypto, the most obvious mistake I can see on newbies is "FOMO" please there are no instant money no hurry you can't be a millionaire in just a day in crypto unless your a scammer/hacker. Lastly a simple word means a lot to every newbies who wants to enter crypto be "patient".   

My new year's advice to crypto newbies is to always research more,read more, learn from their previous mistakes and the mistakes of others,look for the best strategy to use in trading because strategies needs to be dynamic in other to work.

Don't be afraid to take risk,because taking risk is part of human,and it's only brave people that takes risk.
It is the amount of risk you take that determines the level of your success.It only taking calculative risks that can take you from one level to another.

This is the logical thing. Struggling but still considering our limits. Sometimes, newbies only focus on struggling their efforts in this crypto world without considering their limits and also ability wisely. This will make such nonsense struggles. Moreover if we don't have enough knowledge to struggle.

For some newbies, crypto will not e able to make them rich overnight, but it can make them poor overnight. Being rich overnight is very possible but done only by specific people with common professionalism.

For newbies, I will suggest you not to be closed with new hype tokens. commonly newbies will not know the right time to enter the market when buying hype tokens. commonly they will buy when the price has been in the hype and consequently the price will drop and they are lost.

Very good suggestion for newbies. I think these are also very effective advice. Most of us especially those who are novice in trading crypto they should learn from the mentioned topic.

Every newbies heart is making money on the first day they know about crypto so it's a bad idea telling them to follow their heart they will eventually lose money, newbies should put aside investment first and learn and learn over again before even any practical, just my 2cent advice

Bitcoin is totally different from altcoins or tokens, you can expect in holding bitcoin in a long term than the altcoins or tokens, it could be hype or under the pump and dump so we still are careful on it when it comes to investment. For less risk of investing in crypto, I think bitcoin is something reliable among them all which means less risk.

The overall advice is good and we do hope newbies will do take note of this very informative thread. It proves that a newbie should learn first before diving into crypto investment.

The best step for newbies to take in the cryptocurrency journey is to learn. Every Aspect of cryptocurrency is learning to understand,  not having idea about cryptocurrency and one want to have it, is a bad one which newbies can't handle.

Cryptocurrency is a type of digital money that you can trade in search of an investment profit or – more rarely so far, but this could be changing – use to pay for goods and services.

It’s legal, although it’s not legal tender like a pound or dollar. The most recognisable cryptocurrency is bitcoin, which has exploded in popularity and is now starting to move into the mainstream.

If you are new to investing or if you want to invest in the site to see what the manager of the site and whether there is a campaign ICO ad.  If the manager and the site is good then you can invest. But you have to do it at your own risk.  No one will be responsible for the profit or loss here.  Happy Journey

Your heart is to your emotion as your brain is to your reason. Following this, I don’t agree that you should follow your heart always. Especially in the practical world of Bitcoin, your emotions will only bring you down. I say, it is always good to follow your head.

Be rational rather than emotional. Feelings will often betray you. People who have weak hands, who buy high and sell low, who resort to panic selling when they see bloody red charts, who easily get carried away by quick price surges, who fear of missing out, and so on are emotional people.

Finally, I dare say your fate is what you make of your life. There are obstacles in life. Tear them down; get past them with resolve and courage.

I think too much following the heart is also not good because here we need mature and also logical thinking. The crypto market does not go according to our wishes, sometimes it goes up and down so we have to be able to deal with it well. It is true what is said here that everything needs a process, wealth cannot be obtained overnight, so it requires sufficient knowledge and experience in it. The more experiences that are passed, the more lessons that can be taken. Apart from all that crypto will help us if we can also use and manage it well.

This.
Start now or start late. Everyone who's interested in investing should start already or they're missing a lot. If they don't invest as early as they can, they have to face the consequence of investing too late already with a higher price. But what we say, they should invest at the low prices that they can before they see it go up. It's true, there are no shortcuts and whoever rushes is likely the one to give up quickly.

There will always  be someone better than you, that's my main point pal no matter how hard working you are some are destined for greater things than your own destiny, it's just the way things are, you are rich some will be richer, you have a diamond some have 100s, it's just the way it is, this life is not balance and it will never be.

This was very common to newbies. They just come without the knowledge and then think of becoming rich instantly. That is eventually just a dream and ambitious attempt that crypto can't provide it. This needs hard work and patience to learn things.
Honestly, it was true. We can't be a holder and it was really difficult if we just rely on crypto alone.
I can compare this holding shitcoins, I have some of those coins and they only got stuck on my wallet. I've been waiting for 3 years and let is stay there but has no surprise that it still now market value. I've been hopeless and it looks like there is no chance.

Great advice you have given tk the newbies and j honestly hope they see wisdom in it, but amongst all this was the one I have some issue with, actually, following your heart isn't wrong but following you heart alone has caused many to fault or make mistakes, rather I would highly recommend they don't only follow their heart alone but also they follow their heart and medulla oblongata, AKA brain.

# 1 does follow your heart mean follow your first instinct?

if so it is more than 50% correct for most every person.

Second guessing = you do not belong in the game.


My biggest thing is pace yourself.

If you buy something be able to buy it at least 4 dips.  say 30 to 25 to 20 to 15 to10

if you do not feel that strongly about some thing then do not buy it in the first place.


and remember this in the long run say 125+ years we will be dead so do not take this too seriously. As none of us will exit life alive.

Let's see if newbies will apply #6. It is a common mistake for them to exit out of the market during those trends and for me back then, I made the mistake. AKA sold in a panic.
I had no regrets, as I still learned my lesson still. Also adding up that don't just hop straight into day trading if you're still starting.
It's not for everybody and I would count myself on that.


I recall someone here in my country saying that using God in arguments as a last resort is a sign of a bad debater, though I know this isn't debate. Just got a quick recall.

Heart and emotions should have no place in your decision making process. You buy and sell not because of an emotion such as love or hate towards a coin. Logic, judgement, common sense, and research are all things more important than emotions.

Great, bring God into the discussion. If you fail, you can always blame God. It was God's will. I wasn't destined to achieve the results I dreamed of because God has different plans for me. It has got nothing to do with my lack of diligence and work ethics. I have got nothing against religion, but it should be something you keep deep inside you. You don't use that as an argument and reason why you failed or succeeded in life. 

I would agree with you on almost all points except the first one. It's not only for cryptocurrency, it's all about your life. Don't hear always what your heart says. Ask your brain first before taking a decision. The heart will take a decision about what he like, but the brain will judge things that would happen based on your activity. Some actions are irreversible. For cryptocurrency don't even take the decision from heart, I am pretty sure it would lead you to Loss. It is like an emotional decision at all. There is no alternative to learning. As much as you learn you may discover many things and your brain will be sharp. So your brain would decide quickly what should you do.

It's already days passed from new year's day but I will share my advice for newbies that I think that can help. To start, I have to tell something that it's up to newbies if they are willing to listen to my advise. What I am going to advice is a bit broad but doing some research will make sense. So here we go, the most important thing when for newbies is to do lots of research and be secured. To do that is to search on how to make youe security tight especially wallet credentials such as private keys and mnemonic phrase/seed phrase. Use legit, known, reputable exchanges if you are going to trade. Just choose what you want, dex or cex. Keep being secured all the time and knowledgeable.

He may be a newbie to the forum, maybe not a newbie to crypto.

OP, another thing you neglected to consider in your post is "security". As a newbie to the crypto space, it is your personal responsibility to secure your investment. You should be able to exercise more caution, not just from online thieves, but offline ones as well. Be more careful who you give you cellphone or personal computer that has your wallet or private crypto information to, be careful who you let know that you are now into crypto currency, so you don't become a victim of crypto theft.

I think you should move this topic to bitcoin discussion board because is suit to bitcoin board, secondly you advice to newbies is very cogent from the perspective i scrutinized some aspect of it, but on your own will practice all of these encouragement as newbies? Because actually you are a newbie as well, that means before you could come with this ideas here, you are already existence, in aspect of bitcoin degradation in value is what we experience subsequently in any annual, holding a coin can't make you not feed well, because before you hold a coin you perfectly know your pocket.

That is right but trading is also risky generally, some people learn for months but still lose. After learning, we should use the amount of money we can afford to lose to trade.

Quite the cliche my friend. The heart is not a good indicator when it comes to trading cryptocurrency. Trading decisions made based on feelings usually end badly. Success in trading demands experience, expertise to master the cryptocurrency trade. I follow my gut after doing my analysis but at least I have TA and fundamentals to back it up

Cryptocurrencies is not about following your heart it is about following your experience

Some people rush by buying some altcoins that become shit coins, we should avoid shit coins.

Bear market is when to invest, why should people be scared, but some new people will be scared of the bear market but buying when the price has gone high that caused them to panic sell as the price decrease.

Some coins and tokens may remain shit coins forever, some are dead.

But they list some shady exchanges, we should not depend on them to look for good exchanges, we can use them to start the research and individually research more about each exchanges online to know if they are good or shady.

More like you’re saying some people are destined for greatness and others are mediocre. I have a different opinion on the subject. I believe in a higher power God, some call it universe, you call it fate. My faith in a higher power restrict me from working hard to be the best I can be in whatever I do. If one sets goals and make consistent and practically  steps to achieve those goals. He will surely be a winner. Our futures are not set in stone by some force of nature. Hardwork pays.

Start by reading and having a general knowledge about crypto. Then find a niche in the crypto space that you’re particularly interested in and give that field your time and dedication. You will be surprised how fast you will grow.

Hodling is not a do or die affair. Don’t lose your mind over hodling crypto. Some holders become paranoid overtime because they invested more than they could  afford to lose. Same goes for borrowing money to trade cryptocurrency. High risk

1. It's always good to follow your heart and nothing else, struggle till you break through but always know your limit

2. There is something that's more powerful than we humans and that's our fate, not everyone will get rich even if they struggle all the days of their life, things will surely get better but not everyone will achieve their aims as they wanted.

3. My advice is start from somewhere and move up step by step, do not rush and do not find short cuts

4. Crypto can make you rich overnight or even make you more poorer that's why you need to learn first before jumping into any crypto investment.

5. Risk only what you can afford to lose and avoid staring at your portfolio when they are at a very high value, they won't stay the same for long so you are expected to take profits

6. Don't be scared of bear market they are a blessing in disguise, it's always a time to buy when they come around

7. Don't become a holder if you can't even feed yourself daily, you need a job more than becoming a crypto holder, holders must have other means of making money so they can hold with ease

8. Not all coins and tokens you hold will do well in few years time, the unexpected can happen to good projects with good utilities too

9. Use crypto hypes to your own advantage, the trending use cases always bring profits more than utilities that aren't trending presently

10. Apart from crypto forums that hold answers to how to start your crypto journey 99% of PM from strangers are advantage takers, they are there to use you or Rob you don't give them a chance


Finally coinmarketcap and coingecko are 100% accurate when it comes to finding the official website of a particular token or coin, all information are legit 100%, this is a perfect way to avoid fake project groups or fake tokens smart contract