Newbies focus on buying Bitcoin, ignore the noise about other cryptocurrencies - page 2.

Issa56

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Most newbies don’t really have proper knowledge about what crypto is all about, they just hear people talk about it, and they will also want to jump into it. Most of them are always brainwashed by people to invest in different coins, and they are always following them blindly without doing any research, but at the end they do end up losing money. Some of them do pay for signal providers, so any coin recommended, then they will invest, and some do invest based on some influencers they are following on social media.

Also, some newbies know about bitcoin, but they prefer to go for meme coins, which they believe will give them quick money, and if you are looking for quick money in the crypto space, then you are likely going to lose your money, it’s better to invest in bitcoin and have patience, with time, you are going to make your money.

Fiasem20

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Most newbies fail to do their own research,if they do,they will understand that Bitcoin isn't too expensive to buy,when they do their own research they'll understand that one can buy fractions of Bitcoins.Most persons wouldn't focus on purchasing Bitcoin even after explaining in details to them about the darkside of shitcoins,they would always want to learn from the hard way.The only thing I can do is to tell a newbie never to invest their hard earn money on coins that will lose its value in the next 2-3 years,and won't retain it's value again.Newbies are always advised to invest only on Bitcoin because Bitcoin has proven to pump even after several years of price decline,but those worthless coins will dump and never pump again,the major reason why most newbies are overwhelmed on investing in shitcoins is the quick profit.
A guy in my neighborhood was an active shitcoin investor,I told him about pump and dump scheme as a caring neighbor,he ignored the fact and he saw the outcome of shitcoins and right now his into Bitcoin.All I'm trying to say is,most times people shouldn't be forced to do the right things,let them make their own decisions and face the action of their decisions.

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Quote from: nickpap on December 14, 2024, 02:09:55 AM

Altcoins like dogecoin are good as well. I agree that you should not invest in shitcoins as well. But I believe if you invest in the top 10 altcoins right now you're not going to loose your money.

That's not bad advise but check out circa 2017 and backward and see how the market went by that time. There were coins that were part of the top 10 but no longer in there. Maybe it could happen from the ones that are also currently in the top 10. I am not saying that might be out soon but we don't know what the future might do with them. While we see some strong coins that have been consistently staying there but once trend changes and the hype transfers to another crypto, it could kick some of them eventually and will result into a forgotten top 10 coins. So, you can still lose money with them so make sure to take profits and convert that into Bitcoin if you can.

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Quote from: Adbitco on December 15, 2024, 02:08:45 PM

Lot of people choose to focused on quick money to receive profit from their investment due to that they wouldn't know when they will lose their total investment, maybe as they keep hearing news everywhere across the internet that they invested in some shitcoin and makes a specific amount through the investment. They are always feels cheated, therefore they would rush to a hype project with the intention to utilize and cease the opportunity of holding the tokens with the mindset of selling when the price hit x amount within the couples of days or months.

To me altcoin (shitcoin) is a total waste of money and distractions to us, because most of those projects owners creates them to still our good bitcoin from us. So while they trying to diversify their investment it's important to only hold bitcoin, in fact to keep accumulating gradually to stash up their holding, and whenever the market drop they stack more to keep their portfolio boosted.

Sponsored influencers, YouTubers, and shellers play a role in deceiving beginners with the mindset of quick wealth and exploiting opportunities in altcoins, which may be less popular and newer in the market than meme coins or coins based on Telegram bots, only to use them to pump the coin in question and then and perform a rug pull, while these investors wait for the coin they invested in to reach a certain value, double their capital, be listed on a CEX, or have a future..

Bitcoin is undoubtedly a safer and more reliable decision in the market, no one disagrees with it, and it is the choice that any beginner should start with when entering the market. Of course, before this, he must gain sufficient experience to know its nature and how to deal with it and its basics. Given the presence of thousands of alternative currencies in the market, along with their lack of experience, is what will make them unable to choose the appropriate altcoin in which to put their money, fail to conduct proper research, and don't know when to buy or sell. Bitcoin is the true revolution and the dominant force in the market. Therefore, it should also be invested cautiously and with capital that the investor is not afraid to lose.

Egii Nna

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

This is the best wise man advice, but one thing that most of the newbies fail to understand is that if they are patient and endure the delay while looking for knowledge, they will be able to enjoy it in the future because bitcoin has one secret. No matter what, you will never dump to the extent that you will lose more than you expected, because if you can hold your bitcoin as a newbie for at least 4-10 years, then you will definitely get a good profit. Moreover, you can use the DCA strategy to accumulate a lot of bitcoin with time without a lot of stress.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

Lot of people choose to focused on quick money to receive profit from their investment due to that they wouldn't know when they will lose their total investment, maybe as they keep hearing news everywhere across the internet that they invested in some shitcoin and makes a specific amount through the investment. They are always feels cheated, therefore they would rush to a hype project with the intention to utilize and cease the opportunity of holding the tokens with the mindset of selling when the price hit x amount within the couples of days or months.

To me altcoin (shitcoin) is a total waste of money and distractions to us, because most of those projects owners creates them to still our good bitcoin from us. So while they trying to diversify their investment it's important to only hold bitcoin, in fact to keep accumulating gradually to stash up their holding, and whenever the market drop they stack more to keep their portfolio boosted.

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Quote from: Wonder Work on December 14, 2024, 10:19:39 AM

Quote from: Mpamaegbu on December 14, 2024, 06:55:28 AM

The best time for newbies to have bought would've been a year ago or so when the market was down and sluggish. Except a newbie is under tutorship, they aren't likely going to make much investing in Bitcoin at this time.

We know very well why they will not invest little in BTC now. They are waiting for a good time, like a year ago when it was a good time to invest. They may be waiting for such a time now. They should wait and not invest and hire when the market volatility is a bit better. But the situation is different for those who are or will be investing by maintaining DCA. Those who are suddenly starting to invest should wait a little for a good time to invest.

Yeah, but not many newbie investors will do that. They are more likely to FOMO into the market at the peak, thinking they have missed the boat. Its a classic mistake.

I would say the "best time" to invest is whenever you are financially prepared and believe in the long-term potential of the asset. Trying to time the market is often a losing strategy.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

I would agree with that, when it comes to cryptocurrency the safest investment that you could make is to invest in Bitcoin, it might not be the highest profit because of its high market price but it will not drop its market price compared to the altcoins where you could easily lose your money, especially on meme tokens in the market which is popular these days, there might be a lot of investors that profit huge on this project but don't get FOMO because it is extremely risky. To the point where you could lose all of your investment in just minutes, investing on meme token where there was no liquidity you could easily get stuck on your token and see your holding that it has no value.

In fact, a lot of veteran traders have their portfolio on a huge percentage of Bitcoin and then leave only a small percentage investing on altcoins where they could probably risk some of their money just to gamble a little bit.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

Newbies should not just focus on bitcoin, they should focus more on learning about cryptocurrency and the different options available for them. If they do this, they will not make the mistake of investing in shitcoins and scam tokens. Even if they settle for Bitcoin, learning will help them be security conscious when they eventually start investing. The problem is, everyone is looking for an easy way to make money, so they quickly follow the hype without doing a proper research before investing. Newbies should understand that they are newbies, so what is expected of them is learning first before any other thing.

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Patience and hard work are the keys to success.

I can't recommend investing in cryptocurrencies to beginners at all. I won't say that investing in cryptocurrencies is wrong, because if you are experienced in investing and have good knowledge about crypto, you can also benefit from altcoins, meme coins or sitcoins. But as easy as Bitcoin is for beginners, cryptocurrencies are as complicated for beginners. Even cryptocurrencies sometimes push experienced people to the brink of failure.

I compare investing in crypto to gambling, because when you invest in your crypto, your money is in an unstable situation or at risk. However, for an experienced investor whose management is very good, such unstable situations in crypto cannot have much of a negative impact. They can control the negative market times and calm themselves down and take the right steps. However, it will not be easy for a novice investor to control the volatile situation of crypto and it is natural for them to make mistakes in choosing coins and taking action. Therefore, beginners should ignore the temptation of crypto and focus on buying Bitcoin.

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Quote from: Questat on December 15, 2024, 11:56:57 AM

If only newbies are as experts as experienced investors, I’m sure they won’t rush investing into shitcoins and expect get rich quick profits. But newbies are said to be less knowledgeable, less experienced and less practical, so it’s not surprising why most of them commit mistakes first before they will learn their lesson.

The only concept they need to know prior to investing is just to invest at the amount they can afford to lose. Whether it’s a loss, at least that still brings a lesson without getting them too much affected on that.

If they are a total newbies, like new in investment and choose Cryptocurrency as their first choice, the situation that you just explained is absolutely will apply, but it will be another whole different story if they have experiences in Investment and just started new in Cryptocurrency, they will at least know about money management and risk management. Nonetheless, knowing the basic of investment will helps a lot for newbies.

Questat

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If only newbies are as experts as experienced investors, I’m sure they won’t rush investing into shitcoins and expect get rich quick profits. But newbies are said to be less knowledgeable, less experienced and less practical, so it’s not surprising why most of them commit mistakes first before they will learn their lesson.

The only concept they need to know prior to investing is just to invest at the amount they can afford to lose. Whether it’s a loss, at least that still brings a lesson without getting them too much affected on that.

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If you're not buying Bitcoin in the crypto market that means that you're risking your funds, Bitcoin has built a solid reputation and it's trust ratings speaks for itself. We often hear about many altcoins that promises huge returns on the shortest time, many newbies will leverage on the reputation of Bitcoin, thinking that all cryptocurrencies have the same reputation, in the end they'll be scammed of their hard earned money. The advice that I give to newbies who wants to invest in cryptocurrency is to start with Bitcoin and when they've learnt how to research about altcoins, then they can gamble their funds on them. There are however some top altcoins like Ethereum, that have built reputation in the crypto market, they're also safe to invest in. It is important to use amount that you can afford to loose to invest in altcoins.

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Quote from: Rockstarguy on December 10, 2024, 06:20:22 PM

Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I think they think bitcoin is too expensive and altcoins is more affordable to buy and invest not knowing they are making a mist to buy what they consider to be a coin with good value. One of the reasons why some people prefer to invest in altcoins is because they feel they can make profit so quick from it not knowing that they are investing in a coin that is not reliable and anything can go wrong in the market that will make it to lose value. Bitcoin is the real investment that must be considered because it has a very good potential. Beginners are too desperate to make money and they hardly think of doing research to get better understanding about bitcoin and altcoins.

This is the wrong mindset that lead to this post. Over the years, the same mindset have dominated the mindset of new investor and new entrant thereby leading them to invest in shitcoins rather than Bitcoin. Some even buy several shitcoins hoping that one of them will pump very hard and give them the "lambo" and they call this diversification. At the end, the lose their capital and curse those shitcoins and everything cryptocurrency. I have seen many people with this approach and it breaks my heart how they waste money that they were supposed to use and build their Bitcoin portfolio. If they can focus on Bitcoin, they will be happier because it is better slow than lose money.

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Quote from: Mpamaegbu on December 14, 2024, 06:55:28 AM

The best time for newbies to have bought would've been a year ago or so when the market was down and sluggish. Except a newbie is under tutorship, they aren't likely going to make much investing in Bitcoin at this time.

We know very well why they will not invest little in BTC now. They are waiting for a good time, like a year ago when it was a good time to invest. They may be waiting for such a time now. They should wait and not invest and hire when the market volatility is a bit better. But the situation is different for those who are or will be investing by maintaining DCA. Those who are suddenly starting to invest should wait a little for a good time to invest.

Quote from: Mpamaegbu on December 14, 2024, 06:55:28 AM

If anyone is going to invest for the long haul like your mentioned target, I wouldn't advise them to do it now that the market is in an uptrend. They should wait for the bear to get in the market to do that.

Yes, you are right, but many are making various comments about investing with a 5-10 year target. It would not be right to give such advice during market volatility. If you invest in this way during market volatility, you will get more profit from it in the future than if you invest in the bear market when the volatility is gone. That is why you must wait a little for a good time to invest.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

The question is, "how much of Bitcoin worth can they get to give them a nice ROI, supposedly with the little funds they've? Truth is that most newbies coming into this space don't have much to put on Bitcoin and that's why they seek low cap tokens. We understand that. No amount of sermonizing will make them take your advice now until they've that bitter experience of loss from such shitcoin investment. So many of us were once on that table.

Quote

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing.

The best time for newbies to have bought would've been a year ago or so when the market was down and sluggish. Except a newbie is under tutorship, they aren't likely going to make much investing in Bitcoin at this time.

Quote

While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

If anyone is going to invest for the long haul like your mentioned target, I wouldn't advise them to do it now that the market is in an uptrend. They should wait for the bear to get in the market to do that.

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Quote from: Tmoonz on December 11, 2024, 06:32:13 AM

Quote from: Samlucky O on December 05, 2024, 09:47:37 PM

Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Newbies chasing shitcoin in expectations or pursuit of quick wealth are Just being ignorant. Because they thought bitcoin is too expensive and looking for a shortcut to wealth not knowing its the quickest way to poverty. Due to the high demand to make quick wealth has made many youths lose there money in some shitcoin and blame it on bitcoin, that bitcoin or cryptocurrency is a scam, not knowing they failed to do proper research. I would say newbies should invest in bitcoin than wasting those money on gambling coin because Its a pump and dump coin and no real long term value. I have many of them lying dead in my wallet due to my lack Of understanding about bitcoin back then.

Another important thing I observe about newbies that is not only thinking that Bitcoin is expensive is that they feel they can't be patient enough with Bitcoin since it is best appreciated when viewed on a long term perspective, they get carried away by promises made by influencer paid to promote projects not knowing it is only a trap that will lead them to their doom. However, majority of them even seeing all that is being said here they will prefer to learn the hard way other than learning from what has happened to others. Yeah is anyone choice to do whatever they like with their funds.

Some of them doesn't want to engage on something that can make them wait for long time, since usually what these people trying to find is fast rich schemes program since they believe that there's certain program that can easily make them rich. This is the reason on why we can see a lot of newbies got scam since they didn't have long patience to deal with Bitcoin and also they always listen to the hype introduce to them by those deceivers who want to take advantage on their innocence.

For sure if they experience the worst they realize that Bitcoin is better than anything else. Its unfortunate for their side because they only realize this one when they already try to lose their money on wrong investment choice they pick.

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Quote from: nickpap on December 14, 2024, 02:09:55 AM

Altcoins like dogecoin are good as well. I agree that you should not invest in shitcoins as well. But I believe if you invest in the top 10 altcoins right now you're not going to loose your money.

Ethereum and Solana ain't bad too. Even the TON and SUI coin seems to have the potentials of growing higher in the near future. Bitcoin is for those with strong financial muscles and not every one can afford to invest in it. For those looking for alternatives, Solana is another coin which is doing well. Advise is, whether you are a newbie or not, acquire much knowledge in what you want to invest in before making such final decisions.

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Altcoins like dogecoin are good as well. I agree that you should not invest in shitcoins as well. But I believe if you invest in the top 10 altcoins right now you're not going to loose your money.

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Quote from: Samlucky O on December 05, 2024, 09:47:37 PM

Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Newbies chasing shitcoin in expectations or pursuit of quick wealth are Just being ignorant. Because they thought bitcoin is too expensive and looking for a shortcut to wealth not knowing its the quickest way to poverty. Due to the high demand to make quick wealth has made many youths lose there money in some shitcoin and blame it on bitcoin, that bitcoin or cryptocurrency is a scam, not knowing they failed to do proper research. I would say newbies should invest in bitcoin than wasting those money on gambling coin because Its a pump and dump coin and no real long term value. I have many of them lying dead in my wallet due to my lack Of understanding about bitcoin back then.

Another important thing I observe about newbies that is not only thinking that Bitcoin is expensive is that they feel they can't be patient enough with Bitcoin since it is best appreciated when viewed on a long term perspective, they get carried away by promises made by influencer paid to promote projects not knowing it is only a trap that will lead them to their doom. However, majority of them even seeing all that is being said here they will prefer to learn the hard way other than learning from what has happened to others. Yeah is anyone choice to do whatever they like with their funds.

Topic: Newbies focus on buying Bitcoin, ignore the noise about other cryptocurrencies - page 2. (Read 814 times)