Topic: New Comers into crypto (Read 303 times)

Thanks for the heads up everyone needs to dona personal research and don't depend on hear say,if not there might be a lot of regrets and above all be updated to the trends that is most important

For newbies don't make the mistake of likening crypto to gambling. You'd be disappointed with the outcome.
Top of the list and probably the most important is Do your own research. As simple as that sounds a lot of people really do not go through the rigorous process of research the project they want to invest in. They gather all their information from the media houses and boom they throw their money in. This may work a few times but its bound to fail. DYOR will save you

If on does his own research there would be no room for gambling since you would only invest in a project that has the potential to solving a problem. Investing in crypto like every other investment requires patience. Crypto isn't a Ponzi scheme or get rich quick program. It's a long term trend that has a high reward on investment ratio.

Going into crypto as an investor would entail a whole lot of studying accompanied with patience if profit must be maintained on a long term base

If any spanish speaking members are struggling with some of the basic crypto concepts please check this free course @ https://infocursosgratis.online/cursos/cursos-blockchain-y-criptomonedas/

Greetings!

This. Take this user's post, newbies.
We already had enough of stories people losing and like regretting their decisions just because they committed all their money to crypto. I even recall one person asking if selling their land for crypto is even worth it.
One would even loan because they don't have the means to invest.

This is basic information that all those who want to enter the cryptocurrency market must know, as the potential for loss exists when making the wrong decisions, so it is important to monitor the market, learn the basics of technical analysis, and verify any currency project before buying and investing it.

Hello there and welcome to the forum!

You should be aware that the primary goal of this forum is to learn about cryptocurrencies. Try to concentrate on that.
As for any other questions you might have as a newbie, here's an interesting topic to read:
Newbies - Read before posting

To all beginners, I would advise you to read this topic:
[Interviews] with Bitcointalk members
https://bitcointalksearch.org/topic/interviews-with-bitcointalk-members-5262967
Or, at the very least, read the best ones (according to the voting results). But other interviews are interesting too.
https://bitcointalksearch.org/topic/--5294958

And one of the useful sites
https://notyourkeys.org/

I read a lot about investing and gambling and a lot of areas of work in cryptocurrencies, but I think it needs practical experience to start with, as a beginner here I first need to read a lot of topics and benefit from the experiences of old members here and then raise capital and then it would be the ideal time to start like this  the work.

Interesting to see these different views on crypto.
A friend of mine recommended I look into crypto and I figured I'd see what bitcoin forums say, but no consensus was expected.
But since I'm not in it for a quick buck and will only put in what I can miss, I should be okay.

I have said many times, there is a tendency to become quick rich from crypto especially those are a beginner. A few people indeed become a millionaire from crypto but we have to keep in mind that very rarely happens that. For example, I have seen a news a few days back a person become a millionaire from Doge investment. But don't think everyone lucky same as this person. We have to change our minds and spend more time learning about cryptocurrency before take an investment decision. Due to a lack of proper knowledge, many propels losing funds in the crypto fields.

Technically, every investment or trading activities that involved risk taking is an act of gambling even if the object or coin have sound historical data because tomorrow are not promised anything can happenn thats why it every important to understand the fundamental aspect of a certain investment someone want to partake in before joining the industry.
We mostly advise the newbies to do research about project before they invest in it but how many newbies know how to do the research and how many of them know the next steps to follow after knowing the gem they ought to invest in.

Learning about crypto is different from investing in it, different from trading, as many people buy bitcoin, the reason for buying is what determines the nature of the research you want to do.

Traders need more learning because their profits are based on expecting something random that may not happen.
Investors are less exposed to risks they buy and sell only after making gains, and this means that you are buying for an amount that you are not afraid of losing.
Some intend to hedge and others want to use it to buy on the black market.
What everyone should know is to protect these currencies.

Before he does that makes sure he backs up everything and I won't recommend that because sometimes those actions will lead to something bad like what I heard with someone that he formats his phones and forget he had some important the bad news is he won't have any backup, checking every other time is better because who knows the coin he/she holding is already no value, and yet he expect after 5 years for a big interest.

Yeah that it is but I see some people who gamble their future just to try to earn double or triple their money in quick schemes I saw them on trading or even on investing on MLM many think that they can earn a fortune and live a comfortable life once they earn from it, but in reality there is what you said right now since if market crash and they are stuck on certain coins or get scam by investment platforms there future might possibly ruined and they will struggle to earn back what they lose.

So old saying says better "Invest only what you can afford to lose" this seems old but still gold.

Life savings means your future depends on it and you should not use it unless you really need it for essential matter. Investing it is not a very good idea because its your future. Trading is gambling which you can't guarantee sure profit, What if something happened to you that need huge money while your savings was stuck on dumping crypto. Imagine selling your crypto in low value just to use the money you need.

Just like what most of the people are saying, "Don't invest what you can't afford to lose."

This saying is really applicable in an investment so you need to make sure that you have a proper budget to invest so that when you need a certain amount for yourself, you have something to use for.

Newbies in cryptocurrency are greedy because they don't have enough experience and knowledge about it.

Somehow I understand you. This is posted on a beginners section where newbies are typically lurking. Yes taking risk is part of investment. But like the sole keyword "degen" in crypto space, there are people (like me) whom trying to put some risky play into the crypto trading. Sometime it's worth it sometime is really dissapointing.

---

OP is open minded about what he can lose. Newbies and those who are planning to start should reconcile and think many times but it's always better to invest on something we knew have a potential to be great someday.

It is kind of sad, but gone are the days when people come into Bitcoin for only two things: technology and philosophy. Now, newbies are hopping on the train with only one thing in mind: money. Unfortunately, those who came a bit earlier than these newbies don't guide them into the starting point. They jump right away into the assumption that people join because they want to make profit. As a result, the pieces of advice given to newcomers are almost always along the lines of speculation, investment, trading, risk-taking, capital, and so forth.

Newcomer in crypto be like: want to be rich soon with crypto
We: 

Everybody here knows that it is not that easy to be rich soon in the crypto world.
Moreover, if the newcomers are coming here with the basic willingness and also major condition" want to be rich soon".
It will be very dangerous. because they may be the very easy victim many scammers will take. Instant big profits investment (Fake), hyped projects, and many more.
In this case, we cannot stop them, but we can always remind them about the crypto world. There is nothing easy in crypto, must be any challenges and also risks.

So far, newbies may not only follow the hype but really do their own research, make certain analyses, and also research. Never only desired of being rich, know crypto, understand crypto, and utilize crypto very well.

This is a certified bone of contention, and I think it's important for newbies to know risk Management in trading, trading is highly challenging, and there is no absolutely perfect trader, even trading with a bot has had complaint remarks, I think newbies should know it's risky to trade, but not for them to see it as gambling,

Newbies can enroll in trading academy, ask for signals, have the service of a trader as a mentor, and low risk capital-wise.

According to me you should not depend on this.. but this is good way to 2x or 10x your earning..

Coming newbies in crypto is not mean investing or taking risk. Fast of all they have to know what is crypto and how it works. And investing and trading is the next part for the newbies. So my advise for the new comers. To learn first about crypto and know how it works in virtual life and real life.

When they realise the first part by reading about crypto hopefully they also can realise crypto is not a easy things where people can be rich overnight.

Ok, now thinking about investing and trading, the reality is only few people follow these suggestion for his crypto life imo. Because they can not believe the truth until standing infront of it. That means we can not hold them to do this untill they face the reality during investing or trading periods imo.

One funny but relatable advise I read elsewhere is after buying the crypto, proceed to delete any portfolio/ price tracker apps and HODL for X years before checking


When the knife falls though, it feels tempting to pump in more at times!

An addition to this is the always reminder that only have the capital or invest what you can only afford to lose.

I won't advise newbies to take risk as high as putting their life savings on the line. They should always test the water and calculate the risk in investing in crypto. Too many stories that I've read about that strategy and many of them failed to continue because they were disappointed with their day to day paper losses.

The most popular one is risking their life savings in crypto which causes panic modes for many, crypto investment is for those who have enough to sustain their everyday lives, if you have good way of making money e.g job you will find it convenient to take risks with what you can afford on crypto investment

I would disagree with taking risks and investing. It is much easier to understand and study the project to which you want to entrust your funds for investment. But since the OP is writing a post for beginners, I would advise you to start learning bitcoin.
Without a full understanding of the fact that, in addition to investment success, losses are much more likely to be faced, and accepting this moment, it is best not to take risks. Invest only the money that you are not afraid to lose. But you must admit that any money is always important and no one wants to lose it.
Therefore, to avoid disappointment, you need to set aside time and completely not only read everything step by step but also understand it. Very often here we meet people disappointed in cryptocurrency who were in a hurry to "invest" and eventually lost everything.

I think putting your money into something that you don't know if it will go up or down is like betting because you put your money, investment has also a risk, so you will take a chance, no matter what we call about it an investment or taking a risk, it's still a form of gambling in some ways, but you are right to think of it as an investment but don't expect too much, because we know the reality about crypto.

I thought you are talking about investing in crypto, I will advice new comers not to think of it as gambling, investing and trading are different entirely, trading is also not the same as gambling but the risks are like the same and they are both very risky. Though you can invest in shit coins which will be like gambling, because shit coins are shit coins and can become dead or the price can reduce in a way that can result to total investment loss. But bitcoin investment is not like that, all it takes is patience, even if you are losing just do not panic and leave your bitcoin alone, it will be surprising when the price will increase back even above the invested price. New comers can do there own research to know other coins like bitcoin, but I strongly recommend bitcoin which is not gambling but a deflationary investment strategy that people also make use of that increase the marketcap and price the more.

There are lots of things you need to do before you throw yourself into investing in crypto and what to avoid this is just my experience that I want to share so you will not experience what others and I have come across, we all know you invest in crypto to earn and not to lose.

- Make your own research or you will see this on some post as (DYOR) as they say it's okay to listen but make sure not to depend too much on others'
call so that you won't regret it.
- Be ready to gamble or take risks, like other traders say, if you are not willing to risk, you won't make it to your goal.
- Capital this is very important, you need it to make a small start, you don't need to have millions, you will need it for gas, if you are transferring an airdrop or free coins there is no free now you have to remember that, the important thing is number one.
- The never say die attitude and strong emotional stand to what is happening, I'm 100% sure you will encounter this one, it will test you and it will try to break you until you give up, when that happens you lose, so I think this last one is very important.

These are just a few things you need to remember but really important if you really want to make a journey, welcome to digital currency good luck.
This will help you to get started.