Topic: New to Crypto, Any Advice? - page 8. (Read 2386 times)

My advise - be very carefull. There are a lot of scam sites, scam e-mails, scam ICOs. Careful with what you investing in and who you trust.

The biggest and single most important piece of advice I can give is to have a strategy, a goal, to start with, don't panic in dips and only ever invest what you can afford to lose

Speculation rules the world. Words have serious power in this industry. A tweet from a developer can result in a spike, so do your best to stay on top of any news. I've only been on Reddit for two weeks, simply cause I felt like I had nothing to contribute previously, but don't be afraid to share what you find (with sources of course). Reddit is a great place for it, however....

Holding is the best policy. Unless you're working with enough money, day trading can be difficult to turn a profit. You may very well hit the jackpot one day and wake up with some serious $$$, but don't expect every project to do that. This industry is reliant on adoption, and fed with speculation. Pick projects you can see lasting in this industry for years to come.

Charts with lines and arrows are crap (sorry to you chartists out there). This isn't like dealing with stocks. You cant project earnings, look at financials, etc. People will constantly look for trends, some of which may actually be true, but the majority of people are just making a case for people to buy in to a specific token. This is a 24/7 365 industry, and it acts as such. It's always changing and trying to predict successes is like herding cats. I love day trading stocks and charting is a huge help to me there...not so much here.

Be very careful about who/where you get your crypto news from. Listening to shills on Twitter is probably the worst mistake you can make.

1) Never sell for loss. Market is still evolving quite rapidly and there are more chances that your investment is going to increase from your buying price in due course even if it's at loss presently. A bit of patience will be fruitful later.

2) Never fall prey to FUD (fear, uncertainty, and doubt) and FOMO (fear of moving in). Remember that old saying - grass is always greener on the other side. Do some research and keep believing in your investment.

3) Alts always seem to go down when bitcoin is swinging wildly, no matter which direction bitcoin is moving. However, they catch up pretty quickly once bitcoin stablizes. Therefore don't panic sell if you see a plunge.

4) Prices almost always tend to correct/go down after a brisk increase or all time high.

5) No-one can predict the price of a coin, so, if anyone is doing so he must be misleading. Fundamental/technical analysis can help predict the trend though.

Above all, keep faith in the almighty, and your coins will MOON one day!!

I’d also add that you should also identify your version of a blue chip (in my case it’s ETH). The thing you’ve researched and know is sound, and would bet your entire trading stack on if someone put a gun to your head.

I have thought for cryptodecades (so like 1 year) that ETH was, and continues to be, undervalued relative to the market. Hence it’s my personal blue chip.

Given that the first thing people want to do when panicking is to “sell back to fiat”, you’ll note that lots of your funds are usually only convertible to another crypto on most exchanges. So regardless of what you want to do, you basically cannot make it home to fiat quickly. What to do?

Instead of panicking - either hold fast in what you’ve got OR retreat but retreat to something YOUVE done research on and think is blue chip (for some it’s BTC, others it’s NEO, others it’s VeChain, others it’s some combo, etc etc). That way even when “everything is going down”, if you took a few moonshots and they look terrible, you at least always KNOW where intermediate homebase is. If you haven’t thought of this stuff yet, well you should have, but thankfully Reddit’s community has vetted certain names over and over again and for all the flack people here get, there actually ARE decent and great traders on this site. If you’re invested and panicking and are a noob and don’t know the above names, get to work here and see which one of the names you like.

And, if you do do such a thing and retreat, I’d suggest just hanging on for a bit in that position. If your blue chip is getting hammered — well that’s just what sometimes happens in crypto, and a correction back up will occur because the underlying cryptofundamentals are, relatively speaking, good. Also, note the overall marketcap - cryptoblues usually only get hammered when the ENTIRE marketcap is going down. And if that’s happening, remember that history has recently shown that 100-200 billion dollar swings in the overall MC happen quite readily.

Not rocket science but I feel today newbies might be nervous. Keep your heads in the game. As someone here once said, it takes balls of steel to create wealth - and those balls are only necessary when the market is going DOWN, not up.

In my opinion, Bitcoin that we can get from the faucet is not much unless we have a lot of refferal followers will feel the result because we will get a commission or wage from refferal activities that we do, but we must try to trade on a small scale or we can work even harder to follow the various bounty and signature campaigns in this forum for more profit.

Your thread is a classic example of old wine packed in new bottle, this question has been asked many times however for your reference I'll guide you.

You can earn free Bitcoins by participating in signature campaigns out here, then you could participate in Altcoins airdrops its little but never buy alts.

Make a electrum wallet segwit enabled to recieve and send coins.

Avoid cloud mining scheme's there's no one per Bitcoin free.

Do not fall for scammers, be very careful before trading.
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I think this is very good advice, especially in regard to alt coins - there are many other ways to get alt coins, so explore these avenues and if you do have money to invest, I would advise to stick to the big boys, like BTC or ETH, but be prepared to see your investment drop by 70% or the day after you buy it

If you are just new to this, I suggest to you that you should participate in bounty campaigns specifically the signature campaign. In this way, you can earn money while learning about cryptocurrency at the same time. That is how I started and I earn good amounts of money. I also search for things that I do not know when I encounter topics that are not familiar to me. Then if you have enough knowledge, you can proceed to learn new skills like trading.

Faucet was just a waste of time, but long ago when Bitcoin still cheap faucet can indeed be counted on.

learn from Bounty in this thread, there is Bounty Signature, Social Media Tweeter, Facebook, Blog, Youtube and Articles.

I hope you enjoy your day!

If I were you, I would try to trade with a small deposit on the exchange. You can understand the airdrops, but it is not necessary to stay there long. it is better to go to the bounty.

yes this is good advise if you are new and don't know about the market price and want secure investment then you should not invest too much money in crypto currency because you can face big loss on big investment. in low percentage of investment you will know about market fluctuation in price and understand about trade. if you learn about both then it depend on your ability for investment.

Start with no more than 10% of the money you can loose.

I am likewise new in this cryptro world. On the off chance that you knew on crypto world,i will recommend you to look into crypto world. After research on the off chance that you need to acquire from it...That's great. There are numerous approach to aren cash from this cryptro world. Those are mining, exchanging and furthermore the most importent is contributing.

That is the reason I recommend you finding out about it and other site you can contribute cash on bitcoin. To contributing cash you can join "Coinbase"

before you jump and fight in the world of crypto, it's good you read the information in this forum
https://bitcointalk.org/index.php?board=39.0 (Sub forum: Beginners & Help)
certainly very helpful for you who are still new in cryptocurrency

in this bitcointalk forum you can learn about Bitcoin and Cryptocurrency, My suggestion you should read more senior posts here. thus later your knowledge about Bitcoin and Cryptocurrency will increase. I wish you success !

The only advice from is to know when to sell and hold, it all depends on your personal decision.
market outright is no guaranteed take profit when its OK for you.
Hope i made common sense!

Welcome gray. First of all you should learn about this forum and also you should diligently read in this forum and do some post so you can raise your rank. Then you can follow bounty campaign like social media and signature. Hope it helps you.