Topic: Newbies can't profit from crypto without knowing how to trade. Truth or Myth? - page 5. (Read 903 times)

This idea is not a mistake, it is a real fact that is happening in the crypto industry. Because if the idea is interpreted to scare a beginner who wants to join the industry or crypto market, I don't think that's how it is conveyed. This idea is clear, meaning that when someone enters the crypto field, but has no knowledge related to trading or investing in crypto, it is very likely that the novice investor will experience failure or loss. So basically the contents of the idea if clarified means like that. Even in my opinion, this idea is the concern of people who have long and experience in the crypto field, so that beginners don't get caught up in losses.

You can do staking, or you can also save crypto currency for a long time (investing). But still, all of these methods will not run smoothly, if the knowledge to carry out these methods is not explored to the fullest. So my advice, learn more before plunging into the world of crypto currency. So that you don't get confused and can in the end enjoy maximum results.

There are other ways to earn besides trading. Holding your coin for a long time will make you money. But you have to know where to invest. Choosing the right coin and wallet to store your coin would be best. Go for Bitcoin if you want to make money by holding your coin. It's the most reliable coin for long-term holding. Bitcoin will grow in price in the long term because of its mechanism. The scarcity will increase each year.

Another way to make money besides trading is staking your coin on centralized exchanges. Which is extremely dangerous, and I discourage staking your crypto on any 3rd party website or exchange. The first choice is to hold your bitcoin in your wallet.

It depends on your way to earn in crypto. In trading, knowledge and skills are crucial to gain as a trader. That's an edge to profit consistently (depending on your strategy too) since you know what you're doing. On the other side, for investors it doesn't necessary to have a certain skills as long as you have basic knowledge on what you should do in order to gain. Moreover there are also plenty of ways to earn in crypto so it's not only limited to trading.

Investing itself is already profitable if you chose the right coin and that is Bitcoin. You can diversify your capital by investing in alts but if you want to take the safer side then choose Bitcoin. Though it might take time to profit since it's actually good to hold for long period.

That is not entirely accurate as newbies with no skills at all could still obtain profits if they were lucky enough to invest in the right coin at the right time, however if what you want are reliable profits you can get for the long term then I think your coworkers are right.

The markets are meritocratic to the extreme, if you know what you are doing then you can obtain profits, and the greater your skill the greater your profits, however the opposite is also true, so if your knowledge about the markets is low then you will lose money, and the greater your ignorance about the markets the greater your losses.

You're so wrong about this. Don't you get that if bitcoin can be exchange to goods and services directly? You don't have to know how to trade it on exchange to turn it into those goods and services.
Someone bought bitcoin in 2020 and in 2021, when he was up 300%, he bought a house with bitcoin, because the seller or the agency agreed to such deal. According to you that person did not gain any profit.

But investing also requires knowledge and basic understanding about how to trade. It also need a research so you won't fall for scam projects. You don't really need to be a professional trader to earn but rather learn the basics and have knowledge about how the blockchain techology works.
There are also lots of good resources that you could find online so you better have the eagerness and courage to learn. Trading is a long process of learning but if you would persevere, you'll adopt new knowledge about the basics which will be helpful as you grab other opportunities that crypto could offer.

I want to make a little correction in your speech and that is New investors can even make profits without trading skills but they can't hold it for long term. Without trading skills, trading is like gambling. So a trader must have at least basic trading skills to create his position in the market. Sometimes it's possible to make profits without skill but it will be very difficult to be in profit most of the time. There are many ways to improve trading skills and they aren't hard even much easier. So why we should gamble with our real assets when there is many tricks to increase our winings?

Long term Bitcoin holders will surely win if someone can hold it for a certain period. Beside this another most popular way to gain profits is staking Cryptocurrencies. Though staking rewards aren't much worthy but it's much safer way for newbies. Stable coins and some Cryptocurrencies have this staking feature. So we have to choose the best one with proper analysis.

It's a myth as there are many ways to benefit from the industry without having to become a trader, trading is one of the ways newbies think they can because successful but it isn't as easy as it sounds because you'll have to go through many studying to succeed at training.

Many traders end up disappointed after their first few weeks of trading and other traders quit or don't succeed at trading because they were after the profits instead of first learning how to trade like the professionals. Trading needs discipline but many people don't have it.

You can make money by investing in new projects through the difference means like launchpads, initial exchange offering or platforms that give investors an opportunity to invest in new projects that aren't exchanges . We have some popular ones which has good reviews.

Beside trading there is another option which is known as investments but in investment you have to wait for better time to get the advantages of maximum worth of selected token. As compared to trading investments will give you more profit but for this you have to know when to purchase and when to sell the desire token.

This is not false that people without skills cannot achieve desire advantages but if someone who win for 2 or 3 times regularly without expertise and knowledge then may be that time was favorable for him but this does not occurs all the time.

The different between gambling and trading is only knowledge and skills so if a person entering the crypto market without knowledge and skills so it means that he consider trading as gambling which is totally wrong concept.

Investing and Trading is quite different in terms of risks. In my opinion, there are couple of new investors that are profitable the first time they invest especially if they invested in 2021. But the chances of being profitable is very low if you don't have knowledge compared to those experienced investors.

In trading, I can say that you can't be profitable if you don't have knowledge. Even traders who have knowledge in trading are having a hard time of becoming profitable. For you to know, around 90% of traders lose money.

Yes it's absolute truth that newbies require the basic knowledge to earn profit from there investment in crypto one of such basic skills is to avoid buying at high i.e when the price is already peaked, learning how to buy low and sell high is one of the basic prerequisite in trading and investing in crypto failure to adhere to that simple basic rule will  lead to avoidable losses from investment.

Basically a newbie after learning the basic rule of trading
and investment in crypto is expected to research on the particularly project they intended to invest on to avoid falling onto the scam project of course there are numerous projects in the crypto market whose credibility and trustworthiness is not guaranteed, personally I prefer a newbie to invest on the major crypto e.g Bitcoin, Ethereum, BNB etc by investing when the market is bearish sentiment.

newbies could easily just speculate and would still make profits.
knowing how to trade in general only good if you are really committed and wanna build career around it otherwise it don't really needed, you just know the fundamental of a project, whether they got good partnership with some known venture capitals that gives the project it self massive funding, and you can easily invest in it. if it happens rising after presale, then you are lucky with your investment, if not then you could easily become investors.
talking about taking advantage of the circumstance. so I could pretty much say that it is myth, but certainly knowing how to trade will increase your chance of getting profits at the end of the day.

For me, it is a myth. Simply put.
What a newbie needs to do is, learn the basics. Learn how to buy, learn how to hold. It shouldn't take more than seeing a few YouTube clips/videos in one night or day to do this. Make a simple, comprehensive note.

One of the laws of getting rich by investing in businesses or ideas, is to have at least an idea of what you want to put your hard earned money into. An instance was even sited as regards to this in the book titled, 'The Richest Man In Babylon,' that's if you heard of it. It talked about someone (I may have to search the names of the characters again) who saved up some cash and gave it to his friend the merchant to buy jewelry so he would sell. This person later discovered it was glass sold to him. He lost and then sort advice. He was told it was because he had no knowledge of the jewelry and sent a merchant who was tricked with fakes or caused the scenerio, that's why he lost all his money. If you get the point.

This isn't gambling where one can get over the loss easily with just one more turn which may not be much.
A newbie is like a newborn baby, she must learn to crawl before walking and then running.

Everyone is free to buy bitcoin but it will be useless to say if he does not know how to trade since it’s the only way that he will get good returns from bitcoin once he decide to sell or trade it when it’s price has skyrocket. So most likely, if you dont know how to trade, you will never be in profit for crypto, not only for newbies but also even to those who have been staying long in the market. Bitcoin is all about buying and selling, investing and trading, aside from using it as a payment currency to buy certain goods and services.

Basic principles and movements or set-ups is a must thing to be known considering that it isnt something that you would be able to make yourself to pull out those funds or profits on the time that you do make money even
if you do just simply copy trade whether it would be manual or just simply running up a bot. This is why it would be understandable that you should know on having that basic functions or steps for you to do so.
Its true that there are lots of methods on earning money here on this space, it is really just that people cant really be able to snip out and having that kind of behavior on engaging into it and rather just missed out those opportunities or simply they are really that rushing things of.

Since we are talking or speaking about trading then it would really be just that normal that you should know on how to trade and not just simply trying to put or make a position without having those considerations
like having an analysis or whatsoever.

There is a difference between trading and investing. If you want to be an investor, you don’t really need to have skills; all you need is to know how to buy bitcoin and hold it. If you can hold it for a long time, you are going to make money in the future. We all remember the bitcoin price a few years ago, and we can all see the bitcoin price today. As an investor, you don’t need to have any special skills, but you still need to know the basics of trading because, without knowing the basics, you won’t be able to buy your bitcoin and send it to a non-custodial wallet.
 
But if you are planning to be a trader, then you need to have skills, or you might end up losing the money you are trading. Trading is more difficult and complicated than investing in bitcoin, and you can’t just make money if you don’t truly understand how to trade. Some people will join trading, and they will be looking for trading signals. All those people are just looking for free money, and they will end up losing. If you are not ready to learn in the crypto space, then you can’t make money; there is no easy way to make money here.

The only way that I know that newbies can easily make money is by investing in bitcoin and holding it for the long term. You can’t hold bitcoin and expect profit in the short term, and I am sure not all newbies can hold their bitcoin for the long term.
As a newbie who wants to hold bitcoin, just make sure you buy your bitcoin and send it to a non-custodial wallet. Also, make sure you properly secure your private key, because a lot of people have lost their bitcoin just because they lost their private key. So one of the things you shouldn’t joke with when planning to hold your bitcoin is your private key, and we all should know that your private key shouldn’t be stored in a place where there is an internet connection.

In trading, we can also do a copy trade or pay for signals if we don't have a knowledge in trading. There are so many ways to make profits in crypto not just in trading, so the answer to the OP's question is it's only just a myth. However we may need a basic knowledge in trading like selling our coins to cash once we are done but this ain't hard to understand. It's the same as how we learn how to use money in the real world.

When it comes to investing, knowing a commodity is necessary but it's not enough. We should also control our emotion and learn how to be patient when holding. Trading is not a competition so yeah, there is no need to hurry up. Rushing will only lead to dangers.

Regarding my experienced its true about beginner or newbies earn profit trough cryptocurrency without know how to trader, their profitable exactly not from trading but active joining some airdrop project. I think every one here in cryptocurrency can earn profit without know way with trade about some coins. Today, our community earn profit above 200$ trough airdrop but some of them don't know how to trade because first time receiving coins exactly about cryptocurrency.
But the beginner means they have understood well about basic knowledge with cryptocurrency from create wallet, deposit and withdrawing, but they can't manage well with trading.

it's not a myth, it's the truth, how can you make a profit when you don't know what you're doing in crypto!!

but if the essence of your topic is another way to make money in crypto besides trading, the answer is of course there are several ways, such as becoming a token developer - article writer - investor - liquidity provider and participating in bounty/airdrop programs.

don't ever think that making money in crypto is only by trading, find your most comfortable way to make profit in crypto through your passion.

Sort of truth and sort of fake. They can't make a profit based on what they know, but they could always get lucky if they are doing something like that. I mean think about it, haven't we heard any rookie traders that ended up making a profit before? We did, it exists so it is not completely true that they can't.

However, they need to be incredibly lucky, like get into the crypto world right as bull is on full force where alts are going 100% a day sometimes and they buy the right thing. All those things hitting all at the same time is a very low odd, the timing is the most important one, and doing that will be a very difficult thing and I bet that not a lot of people will do that. This is why since it is so rare, people say it doesn't happen.