Newbies can't profit from crypto without knowing how to trade. Truth or Myth? - page 6.

Bitcoinpoly

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Quote from: Zee27 on July 17, 2023, 12:32:23 PM

Quote from: Bitcoinpoly on July 17, 2023, 11:07:54 AM

Quote from: Zee27 on July 17, 2023, 10:22:00 AM

Quote from: TheUltraElite on July 17, 2023, 10:09:26 AM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Knowledge in trading will not be the reason to be able to make money but will cut down some common mistakes that can force you to lose money. Rest of the money making is your own luck, predictions and patience. Newbies in speculative trading will be assumed (and proven) to be lacking this mindset and thus the above notion.

Every trader was once a newbie. So I dont think this statement should discourage new investors, because that is a personal choice of rubbing someone's statements on their own skin.

If a newbie start dummy trading and is keen to learn, they can profit in a few months, but they should have patience and be able to endure long bear markets.

Quite true. But I believe that there are ways newbies can benefit from crypto without having the skill to trade and make technical analysis. Matter of fact, some exchanges have recently made it easy for newbies in the space to earn without knowing how to trade. I don't know if you've ever come across the Bitget flexible savings where users can actually earn daily interest on their assets. This is one of those ways. Learning to trade is essential but believe me, it is no walk in the park and it makes new users shy away from joining the crypto space.

Flexible savings? Not sure have ever heard of that in crypto and how does that benefit new users who doesn’t even have the knowledge of the volatile market.

For newbies, flexible savings is safe especially in the volatile market. you can read up more about it here.
https://www.bitget.com/academy/Maximize-Your-Crypto-Earnings-A-Beginners-Guide-to-Bitget-Flexible-Savings

Wow, have gone through the link, seriously I never knew anything of such exist, does that mean the savings will last for a year before I can collect it or I can collect it at anytime?

Adbitco

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This is not true mate you can make money from cryptocurrency without you being a trader and having to know anything that relates with trading technicalities. At first, such person should be able to own a crypto wallet that is secure and trusted possible get Electrum or a hardware wallet to buy and hold bitcoin. Now this is what the person will do, you can buy from p2p or exchange store it in your wallet for a short period of time, maybe after seeing the market has appreciated then such person can sell. As long as the person knows how to place order to buy or sell, such person must not be constantly doing daily trading to start making money from cryptocurrency precisely bitcoin.

Quidat

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

Not really that needed for you to trade on which you could really be simply be able to make profits or money on just simply holding but of course this would really be talking about
long time aspect on which not all would really be that having the long patience when it comes to this or any investment on which it would really be ending up for someone to
take up some bad decisioning because they cant just wait up on how long they would really be able to make money.Usually the most common newbie impression is that they could really be
able to make some money on the time that they would really be putting up money or just waiting for few days until they would realize that it isnt something that realistic at all.
Trading is indeed could really give out that kind of opportunity on which you could really be able to make money but this would takes time and lots of efforts for you could be able to
have that have a good grasps into it.

Finestream

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It’s a truth. People will never gain profits in crypto if they won’t be expose with buy and sell. They buy them when the price is low, and end up trading them in a centralized exchange when their prices have increased or have been affected by a bull run. That’s why trading is a must for those who want to see profits from their investments. But if you think you’re still not capable to trade, then just invest first and hold them for years so you can avoid losses.

Kasabus

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

Apparently, you will never earn from long term hodling if you never decide to sell them at a higher price. That’s where trading takes place by selling your coin at an exchange with its high and reasonable price. So yes, for me trading is very crucial in crypto because you cannot experience profiting unless you decide to sell your coins especially when there is bull run or when you see some significant price increase.

Crypto Library

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

New investors or get into trading without any knowledge about it? I think a lot depends on these two words. Because new investors can also be called those who have started trading with basic knowledge of trading, on the other hand, some of them can be also called new investors who jump in here to invest with zero knowledge.
And here a fact must work that those who are trading without basic knowledge have more chances of facing loss than the possibility of gaining profit. So I don't think that those coworkers are fully wrong. And in my perspective, I will say that you have to acquire some basic knowledge for making some profit on trading.

Quote

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

I think we should treat cryptocurrency like any other currency, i.e. we get paid for our work in those currencies. What I really want to say is that there are many ways to enter the market through your own skill in Cryptocurrency. And already one gives a good list on the above which you can take aside from trading.

darkangel11

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false.

Completely 100% false.

Quote from: tranthidung on July 17, 2023, 08:58:30 AM

You must have basic knowledge and skills for buying and selling

That's not true, you're wrong. A better word would be, you should have basic trading skills. Must is much too strong for this.

I know people who never bought and sold bitcoin, but they have a lot of it. Taking profit can be done through a number of services, one of the easiest and cheapest being gift cards. You can also take profit by selling coins to someone in person. It's possible to never have an exchange account and still own and use bitcoin every day.

KingsDen

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

What your coworkers were discussing is very close to the truth but that is not the absolute truth. It is simply advisable to have good knowledge of trading but that is not the only way to earn in cryptocurrency. There are so many ways to earn which includes but not limited to;

Trading
Mining
Hunting for airdrops/bounty
Exchange business
Mixer business
Coin project
Crypto article writing
Signature campaign

And lots more. Some of the above does not require crypto trading experience.

Zee27

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Quote from: Bushdark on July 17, 2023, 12:52:38 PM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

I thinks it works in two ways. You will need to have mentors or tutors that will be giving you the signal to trade even though you don't have knowledge about the cryptocurrency market. It is not necessary for you to know much about the Crypto market or how to analyze trades.

Once you know how to click the buy and sell button, trading should not be a problem to you and to those newbies who might not like to learn more about trading and market analysis. You can only trade the crypto market if you know little about it, like how to use signals, bots and do other simple task in the market.

We don't even need to learn the hard part of trading like market analysis and market trends. Once you have a good signal that have you to 80% win rate then you are good to go. There are so persons that are making big money from the cryptocurrency market who does not even know how to analyze market charts or create there own signals. Getting a very good and reliable signals is what we need to make good profits from the market.

To add to your point, copy trading is also a good feature that newbies can utilize to earn in crypto as they can copy the trades of other expert traders to profit from trading while they proceed to learn how to trade to become independent traders themselves.

Quote from: Nrcewker on July 17, 2023, 12:59:58 PM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false.

Can you ride a motorcycle without knowing how to ride? You can't, right? Similarly, if you don’t have knowledge of trading, how are you going to make profits from it? Knowledge is very important in every field. Moreover, if you are investing your hard-earned money in a place or good, then having knowledge of that commodity is a must. The more you know about the product in which you are investing, the less chance there is that you will make a loss. So whatever your coworkers said, I agree with them up to a certain point. A newbie shouldn’t rush at all while starting his trading career. Give time to trading, and trading will give you profits.

Actually they were saying stuffs like there are no other ways for one to earn from crypto except through trading. This statement is false if you look at it. People earn from airdrops, ICOs, copy trading, flexible savings or staking etc even without knowing how to analyze the markets and trends.

Nrcewker

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false.

Can you ride a motorcycle without knowing how to ride? You can't, right? Similarly, if you don’t have knowledge of trading, how are you going to make profits from it? Knowledge is very important in every field. Moreover, if you are investing your hard-earned money in a place or good, then having knowledge of that commodity is a must. The more you know about the product in which you are investing, the less chance there is that you will make a loss. So whatever your coworkers said, I agree with them up to a certain point. A newbie shouldn’t rush at all while starting his trading career. Give time to trading, and trading will give you profits.

Bushdark

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

I thinks it works in two ways. You will need to have mentors or tutors that will be giving you the signal to trade even though you don't have knowledge about the cryptocurrency market. It is not necessary for you to know much about the Crypto market or how to analyze trades.

Once you know how to click the buy and sell button, trading should not be a problem to you and to those newbies who might not like to learn more about trading and market analysis. You can only trade the crypto market if you know little about it, like how to use signals, bots and do other simple task in the market.

We don't even need to learn the hard part of trading like market analysis and market trends. Once you have a good signal that have you to 80% win rate then you are good to go. There are so persons that are making big money from the cryptocurrency market who does not even know how to analyze market charts or create there own signals. Getting a very good and reliable signals is what we need to make good profits from the market.

Zee27

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Quote from: Bitcoinpoly on July 17, 2023, 11:07:54 AM

Quote from: Zee27 on July 17, 2023, 10:22:00 AM

Quote from: TheUltraElite on July 17, 2023, 10:09:26 AM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Knowledge in trading will not be the reason to be able to make money but will cut down some common mistakes that can force you to lose money. Rest of the money making is your own luck, predictions and patience. Newbies in speculative trading will be assumed (and proven) to be lacking this mindset and thus the above notion.

Every trader was once a newbie. So I dont think this statement should discourage new investors, because that is a personal choice of rubbing someone's statements on their own skin.

If a newbie start dummy trading and is keen to learn, they can profit in a few months, but they should have patience and be able to endure long bear markets.

Quite true. But I believe that there are ways newbies can benefit from crypto without having the skill to trade and make technical analysis. Matter of fact, some exchanges have recently made it easy for newbies in the space to earn without knowing how to trade. I don't know if you've ever come across the Bitget flexible savings where users can actually earn daily interest on their assets. This is one of those ways. Learning to trade is essential but believe me, it is no walk in the park and it makes new users shy away from joining the crypto space.

Flexible savings? Not sure have ever heard of that in crypto and how does that benefit new users who doesn’t even have the knowledge of the volatile market.

For newbies, flexible savings is safe especially in the volatile market. you can read up more about it here.
https://www.bitget.com/academy/Maximize-Your-Crypto-Earnings-A-Beginners-Guide-to-Bitget-Flexible-Savings

Zee27

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Quote from: Asiska02 on July 17, 2023, 11:59:15 AM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

This is a false statement and should not be regarded as being true. Some people believe in luck while others believe in hardwork. Going with the first one which is luck, a newbie can begin trading in a day and make a lot of profit a more successful trader can’t make in a day. On the other hand, hard work is really the game changer here, and with much knowledge, you’ll no doubt earn a lot from trading bitcoin.

Quote

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

Another way for newbies to earn aside from trading is just simply to hold their bitcoin. Hodling bitcoin for a long time will definitely earn you a lot of profit in the future. You don’t need to worry about market volatility and changes overtime, just hold and wait for the right time when you must have earned a lot of profit from your investment. Bitcoin amongst other cryptocurrencies have the potential of increasing its value overtime.

Banks barely add interest to one's savings so its smart to not tie down ones funds in a bank. Staking is always a better option especially when you can earn more APR percentages on your stakings. This way, your investment works for you and it is a really good way to earn passively.

Zee27

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Quote from: knowngunman on July 17, 2023, 12:07:29 PM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

This is applicable to everything in general and not only trading. Whatever you are doing, if you lack the basic knowledge and skills you may likely fail. The statement above is exaggerated but it is not to discourage new traders but rather be encourage them to acquire some skills from pro traders before venturing into trading. Without the skills you can not even differentiate between short and long, candle stick, lots size and other terms related to trading. As a newbie, your chance to make profit without skills is 0.1%. It is therefore important for you to seek the knowledge first.

Quote

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

Crypto investment is quite different from Crypto trading. You are the one confusing yourself. You don't need to be trader before you earn from Crypto. Trading is one aspect of crypto that requires high skills if you want to go far and it's more riskier that investment. As a newbie and investor, you can buy and hold for prefer period of time and sell when you feel satisfied with the profit. You don't need to trade on daily basis and you may stake your coin as well to be receiving a little fraction on a fix period.

Oh no, I think you misunderstood me. This post isn't really about me. I'm not a newbie in crypto. I raised this discussion so that newbies can learn from us that they can actually earn in the crypto industry without knowing how to trade. This was a topic of discussion at my place of work that's why I thought it necessary to bring it here.

Staking is a really good option that newbies can utilize to earn. Personally I do recommend them subscribing to the Bitget's flexible savings which is quite safer for them and they can earn really good APR.
Thanks for your input buddy. 🙂👌

knowngunman

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

This is applicable to everything in general and not only trading. Whatever you are doing, if you lack the basic knowledge and skills you may likely fail. The statement above is exaggerated but it is not to discourage new traders but rather be encourage them to acquire some skills from pro traders before venturing into trading. Without the skills you can not even differentiate between short and long, candle stick, lots size and other terms related to trading. As a newbie, your chance to make profit without skills is 0.1%. It is therefore important for you to seek the knowledge first.

Quote

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

Crypto investment is quite different from Crypto trading. You are the one confusing yourself. You don't need to be trader before you earn from Crypto. Trading is one aspect of crypto that requires high skills if you want to go far and it's more riskier that investment. As a newbie and investor, you can buy and hold for prefer period of time and sell when you feel satisfied with the profit. You don't need to trade on daily basis and you may stake your coin as well to be receiving a little fraction on a fix period.

Asiska02

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

This is a false statement and should not be regarded as being true. Some people believe in luck while others believe in hardwork. Going with the first one which is luck, a newbie can begin trading in a day and make a lot of profit a more successful trader can’t make in a day. On the other hand, hard work is really the game changer here, and with much knowledge, you’ll no doubt earn a lot from trading bitcoin.

Quote

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

Another way for newbies to earn aside from trading is just simply to hold their bitcoin. Hodling bitcoin for a long time will definitely earn you a lot of profit in the future. You don’t need to worry about market volatility and changes overtime, just hold and wait for the right time when you must have earned a lot of profit from your investment. Bitcoin amongst other cryptocurrencies have the potential of increasing its value overtime.

tvplus006

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Quote from: Zee27 on July 17, 2023, 08:45:41 AM

...Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader.

The cryptocurrency market is a high-risk object for investment. This means that you can very easily lose your savings, regardless of whether you are a beginner or an experienced trader. It's just that a beginner has a much higher chance of losing his money than an experienced trader.

Zee27

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Quote from: Sim_card on July 17, 2023, 11:20:36 AM

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

The best way a newbie can benefit from bitcoin investment is if the person invest in a long term investment. This is the easiest way any newbie can benefit from bitcoin. All you need to do is to use the money that you can afford to lose to invest and forget about your bitcoin just put the duration of time that you want to hodli you bitcoin investment and for sure when the time comes that you are ready to sell at you price target you will be smiling at the profit that you will make. For you to be able to invest on long term,you must understand the market and follow up with the market trend so that you wouldn't be discouraged when bitcoin price falls. It is just like putting your money in a fixed deposit and after some year, your funds will generate interest but bitcoin investment is far better than that of banks. Hodling your bitcoin for long will generate profit far better than trading for a newbie who lack the knowledge to trade. I see trading as stress and I prefer to just hodli my coins.

Right on point. lol wait, I can't imagine depositing my funds in the bank when they offer little to no interest on your funds. Not especially when I can subscribe to the bitget's earning product ''flexible savings'' to get some good APR on my savings. I believe that if new investors actually know about these methods, they'd happily get onboard. HODLING, FLEXIBLE SAVINGS, STAKING etc are all safe and friendly ways newbies can earn from crypto.

Fesatmas

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Quote from: Beparanf on July 17, 2023, 09:03:11 AM

This is true in everything not only in trading. You will never be successful on your trading without the skills of doing it since you don’t have any strategy that will make your profitability consistent. Consistency is the key to have a stable profit.

This is a general statement in which indeed everyone is required to have an ability or potential in that field so that they can easily carry out it according to a predetermined plan. Consistency is the key to everyone's success in the field they are working on. It cannot be denied that there are also those who blame fate and think that success is always difficult for them to get. I think this incident is only for people who are not serious about pursuing a field.

Quote from: Beparanf on July 17, 2023, 09:03:11 AM

Newbie usually just guess and place trade randomly which can be considered as gambling since they are relying on their luck to have a profit instead of their skills to increase their chance of profit. Skills is your main weapon to have an advantage against other traders since we are all competing to each other on when to buy and sell.

For starters, maybe it is possible and permissible if indeed beginners choose options with their guesses regarding trading in one of the markets, even though this method is the same as gambling. But I think to get an experience it can be done because it takes sacrifice to be able to get a knowledge, but it must be remembered that they cannot fully do the same thing. Beginners are expected to be able to take advantage of opportunities to learn from mistakes and correct these mistakes so that one day they will not be repeated.

Zee27

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Quote from: AmoreJaz on July 17, 2023, 10:51:50 AM

Quote from: ?? on ??

Quote from: Zee27 on July 17, 2023, 08:45:41 AM

I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills. I would like to initiate a discussion on whether this claim is true or false. In my view, this belief is a false notion that is spread by individuals who want to discourage those who are curious about investing in crypto. What is your perspective on this topic?

Guys, I mean what other ways can newbies benefit from crypto investment without having to be a day trader or a professional trader. Because I believe there are other ways to earn aside from trading.

While trading can be profitable, it's not the only way to earn profits from cryptocurrency investments. New investors can also make potential profits by buying and holding cryptocurrencies. This strategy involves purchasing a cryptocurrency and holding onto it for a period of time in the hopes that its value will increase. This is a simple and popular technique that can be effective if you invest in the right project. Therefore, I believe the idea that new crypto investors can only earn from trading is a myth.

there are other activities where a person can earn from this market, and yes, it is not only from trading. for those freelancers, they can always accept crypto in their payment method, and so they are earning from this market just by getting crypto in exchange of their services. as already mentioned, you can also buy or invest some valuable projects and sell it when you think you have incurred your profits.

Absolutely! This is what I'm trying to point out. For years I couldn't understand the concept of trading even though I joined some classes and took some courses. I literally would've given up if my friend hadn't introduced me to staking and other non trading methods of earning and today, there are tons of other ways to earn as a newbie. We need to propagate these methods instead of making newbies believe that only professional and guru traders can profit from crypto. Thanks for your input buddy.

Topic: Newbies can't profit from crypto without knowing how to trade. Truth or Myth? - page 6. (Read 890 times)