Newbie Come to Crypto What they should do first? - page 2.

TelolettOm

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Quote from: molsewid on March 07, 2022, 09:52:37 AM

Quote from: ?? on ??

Indeed, most newbies come to the crypto market because they are interested in getting rich quickly. even they know crypto and decided to enter the crypto market because of the hype published in the media.

That's the mindset that a newbie should take off of them because that's the thing that would lead them to losses.

I agree. This kind of mindset is often owned by newbies. They don't even care how. What they have in mind is that they can be successful and rich like everyone else. So they tend to be more interested in the lure of very large profits in the short term. In fact, sometimes they don't listen to our advice to them because their desire to quickly get an instant profit is greater. And what happens is that they are faced with scams or Ponzi schemes that actually cause them losses or lose money.
And of course what happened next?
They blame cryptocurrencies.

uneng

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Quote from: Sarah Azhari on February 24, 2022, 08:21:39 AM

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

Doesn't matter how many currencies there are disponible on this market, you should always go for bitcoin first. The highest percentage of a crypto portfolio should be concetrated in bitcoin and only a small percentage like 5% or 10% should be invested in altcoins. As a newbie, your friend must know how to create an account in a legit and safe platform where he can buy or invest his purchased coins. Then he can create his BTC wallet address and start managing his funds. It's also a must to set security configurations on his account properly, to prevent being hacked and losing funds.

As the time goes on, your friend becomes more experienced and profit is made, he can invest in a cold/paper wallet to store his cryptocurrencies offline, what is safer than storing coins at an online platform, although it won't generate any passive income over his money.

SirLancelot

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Quote from: tyz on March 07, 2022, 07:38:11 AM

Quote from: CapGelatik on March 07, 2022, 12:48:24 AM

If I may suggest newbies they should before deciding to enter the world of crypto they need to prepare everything both knowledge, skills, and mentality,

This is basically the same thing I recommend to every newbie. The only problem is that all newcomers have heard about the great opportunities with crypto currencies and want to get rich quickly. Therefore, most don't bother to build up a little knowledge first. This happens only after they have shined and made big losses. At least that has been my experience so far.

We are lucky that we joined crypto earlier than most newbies right now because, in the beginning, crypto is not about easy money but we sincerely learned crypto because of useful it is. We search every corner for Information to become good at it. I'm not saying all newbies have a mindset different from ours but there will be a few that are dedicated enough to earn and he will find ways how to improve it.

Some treat it as an important thing or as a job so they should minimize losing. Newbies don't have knowledge and skills but the only thing that they can have when they start here is I think mentality. It's not easy but it can be natural, some people are born to have a strong mentality while others learn it eventually.

cryptoserega

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Quote from: molsewid on March 07, 2022, 09:52:37 AM

That's the mindset that a newbie should take off of them because that's the thing that would lead them to losses. Answering the question of the OP of being a newbie to crypto what they should do first, of course, keep reading, build a good foundation on yourselves about technical analysis and the topmost thing is to be patient because earning here in crypto does not come into easy. Yes, we may experience sometimes an instant profit but not all the time so learned the process properly.

There are a lot of cryptocurrency projects but not all of them will survive during the fall of the market.
It is very important to check how the project will be useful for people in the future.
Thanks blockchain it is possible to invest money in different assets including real estate like this - https://twitter.com/Z1financial_/status/1500779615622610945
Real estate investments are more stable than investments in cryptocurrency.

JonsonMorris

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Quote from: Sarah Azhari on March 07, 2022, 04:44:17 AM

Quote from: ?? on ??

There are numerous factors to regard when electing a cryptocurrency for investment. Here are 4 significant factors:

There are too many coin right now in market so you have to choose right one for long term investment. You can buy CRD Token. For more details you can read this post - https://bitcointalksearch.org/topic/m.57666515.

Thanks for explain 4 factors, I just want to learn it first where the correct order. because I heard someone here, the first factor to learning is whitepaper.

I don't know about CRD Token, but regarding for your factor above, I can't see your coin listing on coinmarketcap. is worth it and what is use case?

Here is CRD Token Coinmarketcap - https://coinmarketcap.com/currencies/crdnetwork/. The CRD Network (CRD) is a blockchain ecosystem managing on Hyperledger Besu, an industry blockchain on Ethereum, which links digital assets & the Decentralized finance ecosystem with standard finance by acting as an API hub. It gives a suite of microservices, from banking functionality that services both on-chain & off-chain currencies to a KYC-as-a-service platform for directing blockchains.

molsewid

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Quote from: ?? on ??

Indeed, most newbies come to the crypto market because they are interested in getting rich quickly. even they know crypto and decided to enter the crypto market because of the hype published in the media.
without knowledge, they think only of an advantage that will make them rich in a short time. no education provides guidance. and when the market collapses, it will bring panic and it will be a loss for newbies who don't want to learn first.

That's the mindset that a newbie should take off of them because that's the thing that would lead them to losses. Answering the question of the OP of being a newbie to crypto what they should do first, of course, keep reading, build a good foundation on yourselves about technical analysis and the topmost thing is to be patient because earning here in crypto does not come into easy. Yes, we may experience sometimes an instant profit but not all the time so learned the process properly.

tyz

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Quote from: CapGelatik on March 07, 2022, 12:48:24 AM

If I may suggest newbies they should before deciding to enter the world of crypto they need to prepare everything both knowledge, skills, and mentality,

This is basically the same thing I recommend to every newbie. The only problem is that all newcomers have heard about the great opportunities with crypto currencies and want to get rich quickly. Therefore, most don't bother to build up a little knowledge first. This happens only after they have shined and made big losses. At least that has been my experience so far.

Pamadar

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Quote from: mumang siat on March 07, 2022, 03:20:21 AM

Quote from: CapGelatik on March 07, 2022, 12:48:24 AM

Quote from: ?? on ??

The first thing to do is the introduction of cryptocurrencies because many newcomers enter because of the high Hype of Crypto so they hope to get a quick profit without doing a long process so knowledge of crypto is needed to see what risks we will get later when we start entering to trading in Crypto.

If I may suggest newbies they should before deciding to enter the world of crypto they need to prepare everything both knowledge, skills, and mentality,
it's not that easy to make a profit in crypto so all it takes a process,
if we don't have any preparation it's really very risky because we can lose money easily

Actually nothing is instant in this life, if you think crypto can provide sudden profits, then this needs to be straightened out, because thinking like this will give birth to disappointment in the future, crypto has a way of running, if there is no adequate knowledge and methods analyze potential coins, then there will be no return from the investment made, this is very dangerous if it continues, because the potential loss is very large

Indeed, the potential loss should also be sighted beforehand.

This venue is not an easy path to richness, it's a good venue to learn and have a decent amount of benefits only if you know well
on how to take advantage of every market situation.

Without proper knowledge, your chance to grow is slim, but with proper practices, the chance is high to be compensated.

You need to work things out the right way, else you will lose in a short period.

arifteguhr

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Quote from: lenovop-70 on March 06, 2022, 10:24:09 AM

I think deciding what coin to buy is the result of own research, and not someone else's decision, so my advice to your friends is to choose the top 10 coins on coinmarketcap, help him to research and your friend will use their own idea to choose. I think that is the wisest solution.

Yes, it is very wise to provide assistance in the form of ideas in choosing coins in the top 10 coinmarketcap, but I think everyone has seen the top 10 coins in coinmarketcap very often now and if you have more capital then just choose 7 coins among the 10 coins in coinmarketcap that.

Sarah Azhari

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Quote from: ?? on ??

There are numerous factors to regard when electing a cryptocurrency for investment. Here are 4 significant factors:

There are too many coin right now in market so you have to choose right one for long term investment. You can buy CRD Token. For more details you can read this post - https://bitcointalksearch.org/topic/m.57666515.

Thanks for explain 4 factors, I just want to learn it first where the correct order. because I heard someone here, the first factor to learning is whitepaper.

I don't know about CRD Token, but regarding for your factor above, I can't see your coin listing on coinmarketcap. is worth it and what is use case?

zaheerahmed

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My friends ask me what coins I can buy and I always say Bitcoin is the first choice. Bitcoin has become an icon among cryptocurrencies. There are other stablecoins out there, but I wouldn't recommend them to my friends. If he doesn't know about cryptocurrencies, then we should let him know about Bitcoin first. When he knows some processes, he can choose to study some coins of interest by himself. A reminder: People who are new to cryptocurrencies should not invest in hype coins. Not everyone can seize the opportunity, and it is very likely that they will lose their own funds.

mumang siat

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Quote from: CapGelatik on March 07, 2022, 12:48:24 AM

Quote from: ?? on ??

The first thing to do is the introduction of cryptocurrencies because many newcomers enter because of the high Hype of Crypto so they hope to get a quick profit without doing a long process so knowledge of crypto is needed to see what risks we will get later when we start entering to trading in Crypto.

If I may suggest newbies they should before deciding to enter the world of crypto they need to prepare everything both knowledge, skills, and mentality,
it's not that easy to make a profit in crypto so all it takes a process,
if we don't have any preparation it's really very risky because we can lose money easily

Actually nothing is instant in this life, if you think crypto can provide sudden profits, then this needs to be straightened out, because thinking like this will give birth to disappointment in the future, crypto has a way of running, if there is no adequate knowledge and methods analyze potential coins, then there will be no return from the investment made, this is very dangerous if it continues, because the potential loss is very large

CapGelatik

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Quote from: ?? on ??

The first thing to do is the introduction of cryptocurrencies because many newcomers enter because of the high Hype of Crypto so they hope to get a quick profit without doing a long process so knowledge of crypto is needed to see what risks we will get later when we start entering to trading in Crypto.

If I may suggest newbies they should before deciding to enter the world of crypto they need to prepare everything both knowledge, skills, and mentality,
it's not that easy to make a profit in crypto so all it takes a process,
if we don't have any preparation it's really very risky because we can lose money easily

smyslov

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Quote from: Hamphser on March 06, 2022, 07:55:12 PM

Simply stick with the basics and this is a must thing for a noob to mind off because more learnings would be basically be able to attain as you do go ahead.Some might stick out to that basic
principles but some wouldnt really be that patient enough on going with the right path but instead they do act like gamblers and dont mind much about the risks which they would really
realized those mistakes later on when they do experience such bad situation. Learn with the basics and the rest would be ahead.

Yes I agree people should not be in a hurry as a newbie investing you should take everything you can the good and the bad advice so you can come out with your own ways of thinking on how to invest when you understand the risk and you understand how to look where to look and when to look that's the time you are ready to come out with your own analysis, the most important is you take your time to learn, we are talking about money here, the money you've worked hard.

Hamphser

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Quote from: NewRanger on March 06, 2022, 07:28:58 PM

Quote from: lenovop-70 on March 06, 2022, 10:24:09 AM

I think deciding what coin to buy is the result of own research, and not someone else's decision, so my advice to your friends is to choose the top 10 coins on coinmarketcap, help him to research and your friend will use their own idea to choose. I think that is the wisest solution.

better not give anyone recommendation about cryptocurrency, just give them clue about this market and give some knowledge about defi , metaverse, meme coin. layer 1 layer 0 and let them observe by them self. so while their investment rekt , we will not blamed. 1st thing i will do when my friend as about crypto investment, i am only ask them about risk. how much loss could accepted if it gonna wrong

Simply stick with the basics and this is a must thing for a noob to mind off because more learnings would be basically be able to attain as you do go ahead.Some might stick out to that basic
principles but some wouldnt really be that patient enough on going with the right path but instead they do act like gamblers and dont mind much about the risks which they would really
realized those mistakes later on when they do experience such bad situation. Learn with the basics and the rest would be ahead.

NewRanger

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Quote from: lenovop-70 on March 06, 2022, 10:24:09 AM

I think deciding what coin to buy is the result of own research, and not someone else's decision, so my advice to your friends is to choose the top 10 coins on coinmarketcap, help him to research and your friend will use their own idea to choose. I think that is the wisest solution.

better not give anyone recommendation about cryptocurrency, just give them clue about this market and give some knowledge about defi , metaverse, meme coin. layer 1 layer 0 and let them observe by them self. so while their investment rekt , we will not blamed. 1st thing i will do when my friend as about crypto investment, i am only ask them about risk. how much loss could accepted if it gonna wrong

Slow death

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the person must first:

1 - look at the team members, the person needs to know who the team members are who created the altcoin, what background the team members have and what they do for a living, this will make it easier to understand what the purpose of wanting to create the altcoin is altcoin and what level of commitment the team members have.

2 - what is the purpose of wanting to create the altcoin? What is different about this altcoin compared to other altcoins?

3 - inspect the smart contract, even if you have to ask someone you trust to do it

4 - don't be fooled by 10X profit

5 - check if the team members paid the bounty hunters, if the team members keep saying things like: " we can't pay the bounty hunters because the altcoin price will drop a lot " run away from this project, don't invest

MCVXYZ

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I think Litecoin is the best to try for the short term trading, especially when you are newbie. 1 month ago its price changed about 6-7 times from 98-105$ to 110-115$ which was very good for me. Now the price is 103$ but with my observation it will be 105-110$ by tomorrow.

lenovop-70

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I think deciding what coin to buy is the result of own research, and not someone else's decision, so my advice to your friends is to choose the top 10 coins on coinmarketcap, help him to research and your friend will use their own idea to choose. I think that is the wisest solution.

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Quote from: Sarah Azhari on February 24, 2022, 08:21:39 AM

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

You don't have to explain all the coins you've come across over the past 3 years.
The most important thing is that your friends must know that trading here is a high risk.
If he accepts, start from the most basic like bitcoin and ethereum for easy understanding.
If he asks you what to buy now, at least give him an understanding based on a valid chart
I'm sure it will help your friend to understand the analysis of a coin.

Topic: Newbie Come to Crypto What they should do first? - page 2. (Read 1040 times)