Topic: No one is left behind in crypto (Read 202 times)

Most of the common issues of the newbies are letting their funds into those exchanges so it becomes more convenient to them to make a sell or buy assets which is okay too but by that, they can't have the full authorised with the funds they have because still it's on the exchange if there's an instance they need to use that money into other things and the exchange, is in an update or already bankrupt they can't do anything, that's why recommend using a hot or cold wallet to make sure they still have the full access. Some of them think that they must need to buy as a bitcoin and not satoshi only bitcoin is bitcoin, and always make an investment with the spare money willing to risk at all not all the time market brings a good profit.

Yes, it is advisable for people that's not a whale to buy some fraction of BTC but crypto traders are different from investors, and in the OP statement she/he was relating to investors, not traders.
Having said that, the minimum purchase of BTC on Binance spot is $10 why there's no minimum purchase on their peer-to-peer exchange service everything depends on the seller's min set sales.
@RockBell, a trusted hardware wallet, and open-source wallet is the best option but must be verified before use.

Remember “Invest only what you can afford to lose.” Even though bitcoin isn’t as risky an investment as altcoins, I still think it should be wise to remember that bitcoin is a volatile currency and not a buy and get rich scheme. I read stories of people asking if it is okay to borrow money to invest in bitcoin. I don’t think it’s a good idea to put all your money in bitcoin without doing your research, it’s a risky gamble.

The idea is clear; Reminder: do not keep your money in online accounts.

Every trader is also never advised to buy 1 bitcoin because basically they can buy what amount they can afford financially. But I'm not sure they can buy bitcoin for less than $10 considering the trading fees on centralized or decentralized exchanges. Binance set 10 USDT as the minimum order for bitcoin, and each trader can trade 0.00001 btc as the minimum trade amount. And maybe it will be different for other exchanges.

It's not just centralized exchange where you can buy crypto in fractions. It's actually a good step and mindset where you don't keep your crypto in exchanges for safety precaution. I would say that those who think that they can't buy bitcoin in fractions are lazy enough to make a research or only wait for someone to spoon feed them information. I was once like that where I didn't know that if you want to have an asset like Bitcoin then you have to buy 1 BTC which I cannot afford until I made research that it's doesn't have to be 1 BTC to have crypto yourself.

Yes, with the FTX previous event, investors will be now more mindful on their investments and to make it more safe and secured, find a cold storage that will be free from possible hackers online. Do not trust online exchanges anymore as they can be very frustrating in the end, and might be the reason of losing everything we have in the future.

It most definitely will. Obviously it's the same exact asset, but the main point is moving the decimal with the unit price. It's the same exact thing for decently-knowledgeable investors, but it can save newbies from getting deceived by low unit price coins/tokens.

Here you need to be specific on the exchange to use even though the intention was to just use any exchange for the purchase and later move to the main wallet but nevertheless one can still engage the use of a decentralized exchange for this purpose, since the target here is to engage the ise of the p2p service to remain private while making your transactions.


All this are beginner guide that a newbie needs to learn how to buy deposit or send crypto from one exchange/wallet to another, beginners are also admonished to remember to always keep their coins off centralized exchanges and then also have to realize the need to secure their keys with ultimate safety by avoiding a third party spy from knowing them.

Back when I was day trading in Binance as a newb, I unconsciously just withdrew my Bitcoin to my own desktop wallet since I already felt unsafe of just keeping it in a "large" web app where I might forget it one day considering that I usually clear my browser's additional data after a while.

For scammers, well that is quite different story. I first thought you were talking about hackers that target Bitcoin holders. Just don't trust random email and those people sharing their "private keys" to you from Telegram.

current market conditions are perfect for buying and holding Bitcoins. to save it I recommend using the Electrum wallet. because indeed after what happened to FTX, it gave a bad impression to keep our assets on the exchange. it is indeed the wrong way, but in so long, I believe many of the investors or traders also keep their Bitcoins in exchanges. now everyone will be more alert.

I have heard shit coin promoters saying bitcoin can't get pass its ATH and with that they spread lies of either there coin surpassing or matching it. The most hilarious of them is the PI coin which is been tipped to worth close to 10Btc. Sadly there are even people already buying tons of it. This are people that feel its already late to invest in bitcoin even if you advise them of how these shit coins do not have future.

Sadly some will learn it the hard way just like the Terra Luna investors, I just hope it doesn't get worse before they pull out

The idea that one can buy Bitcoin in fractions is an open secret, which anyone with a bit of time to research on it would find out. What limits people most time is not the doubt that they can get some bitcoins regardless how much they have, but the ideology that they've missed the train and it's to late to get in now, so they go searching for the 'next bitcoin' among a bunch of garbage coins and end up losing money.

I don't think changing this would make much of a difference to many, since it's still the exact same asset being discussed. Having people actually check up what they plan to invest in would go a long way in convincing people that bitcoin is still early on its journey and is still the leading cryptocurrency. Also, that the buy in price is only a minute metric to check when contemplating an investment.
Being incapable of this makes it extremely difficult to make any shrewd investment decision at all.

Well, this happens with most financial assets in the stock market, and it brings me to a political question. 

As much as a certain garbage ideology would have us believe, getting hold of financial assets today is easier than ever. The difference between rich and poor people has always been that the rich have assets, wealth, while the poor live off their work, which gives them just enough to live on. Already in the Middle Ages, successful merchants could climb the social ladder, and since then, the way to climb was to set up a business. But today salaried people can build up a wealth of financial assets, which over the years, with compound interest, becomes considerable. There is no need to set up a business.

50 or 100 years ago, buying shares was impossible for the average Joe because the minimum to buy and the commissions ate him up. But today a citizen with a modest income can buy shares, investment funds and cryptocurrencies with very low amounts, something we see in the forum that people from poor countries do.

Thus, someone with low or middle income can gradually build up a wealth of financial assets, no matter how much they want to sell us a mentality of a victim of the circumstances against which nothing can be done, or worse: you can only wait for a politician to come and save you.

Exaxctly. This "bitcoin is too expensive" FUD started by the shitcoin scammers so using sats instead may not be as effective as you think. Basically these shitcoin scammers are convincing newcomers that bitcoin price is too high compared to their shitcoin so they should buy that instead of bitcoin. We've already seen many cases where newbies bag hold altcoins thinking it can go as high as bitcoin just because it is "cheaper".

What we need to do is to teach newcomers that these shitcoins that are being advertised nonstop are useless and because of that, they can't go up in value no matter how long they bag hold them.

This is why I still advocate for using sats by default — to prevent the "bitcoin is too expensive" argument from newbies, then picking a sub $1 altcoin because "what if it goes to $1000".

But I had this situation once when a friend asked me about bitcoin. how to own and how to buy Of course, to own bitcoins, the easiest and fastest way is to buy. but seeing the price they prefer to buy the altcoin that looks cheaper to them.
from that experience I can see, some people who learn to invest in crypto see the number of their assets not the value of the assets they have. like $10 bitcoin and $10 TRX. the value is the same but they are happier to have $10 TRX which doesn't look like 0.00x.
people who are beginners are more interested in trading on the exchange than investing in Bitcoin for the long term. need more time to tell them the best.

This instructions is only for centralized exchange or custodial P2P platform, it will differ to direct P2P and decentralized exchange e.g. Bisq. Since privacy concern is really important, I advise to buy and sell Bitcoin in decentralized exchange and the instructions you can read it here [1]

You can also do P2P in this forum by posting your offer on currency exchange section, in this way you can also protect your privacy but you need to be careful if you trade with untrusted user.

---

[1] https://docs.bisq.network/getting-started.html

Not a damn soul should feel left out.
We've emanated into a time we'd rather not speak much 'bout what we know and sure of..... Bla bla blaaa
If anyone should feel apathetic about crypto, then it's because they don't just wanna get involved with any cryptographic stuff ( reasons best know to them) but to deny the fact that they haven't heard the term "crypto" and - atleast, understood a bit of 'em is a "no no" for me.
Inflation isn't something that anyone should enjoy. If you look at the world's economy today, you'd realize that things ain't moving smoothly, the way it were -- ain't even desiring a chance if a revamp is impossible, just yet. So I'd urge anyone out there to "dance to the lyrics of his/her/ their days" ... Get yourself into the system and feel the essence of having the knowledge in the first place.

Sandra 💇

Not just an external wallet, but ideally a open sourced, installation verified, and a wallet which allows you, and only you to own the private key. Usually, Bitcoin Core for those looking for a full copy of the Blockchain or Electrum for those looking to not have a copy of the Blockchain are the recommended options.

It's also vital that the download of the wallet is verified, I can't emphasis that enough. It seems like a step that a lot of users skip out of complacency. Ideally, you'll check the signature on a different machine to what is what downloaded on for redundancy.

I appreciate the fact that bitcoin is a truly free market, not only for the wealthy or those with money to invest. I've heard people grumble that they don't have enough money to buy bitcoin after hearing how much one bitcoin costs, but they should remember that they can buy them in fractions. People who get access to such knowledge should be welcomed rather than discouraged, now that the market is a bit down by some friction, it is cheaper to get pocket some Bitcoin in your wallet.

Additionally, because scammers have evolved strategies to take advantage of those investing in bitcoin, it is critical for everyone to exercise extreme caution and research typical scams. Knowledge, as they say, is power. Even while knowledge is rapidly spreading, many people are still unaware.

If you have the intention of buying some bitcoins, you can buy as low as $10 bitcoin on local exchanges or any exchanges that doesn't require verification. To buy bitcoin:
1. Select any exchange to buy from after the account has been created.
2. Deposit cash to invest in your local vendor or deposit if there is an option.
3. Place an order and buy bitcoin.
4. Move it out of the exchange to an external wallet. Don't leave your bitcoin on centralized exchanges. Happy being a bitcoin holder.