Topic: Simple self attitude can help to surviving in cryptocurrency for newbie (Read 317 times)

The stigma on cryptocurrencies started when media portrayed it as a medium in exchange for illegal acts or things. Not to mention, when its price skyrocketed on the last quarter of 2018, people impulsively purchased them without studying the market and considering the implications of its sudden rise. When its price suddenly popped (bitcoin), people started complaining about it being a a bubble.

In fact, the people who complain about bitcoin being a scam are also the ones who accumulated loss on their investments due to their poor understanding and research on the market.

Before investing, one must ALWAYS consider all the factors and study the market in order to have a grasp on the current situation and from that standpoint, they can develop an extensive plan either for short/long term.


Most of the rich people did not get their wealth in an instant. They built their respective empire with their sheer determination, hard work, and patience which most people seem to disregard (although some got lucky). The problem is, they see bitcoin as an avenue to make a quick buck and disregarding all the risks involve without studying the market. Now, all of which resulted to their financial loss.

Sometimes it will be fine to discuss these over ambitious deals with your close friends and family . They will help you in framing the right questions and checklist to follow if in case you are blinded by that ambitious deals.

If somebody is insisting to deal privately and not revealing too much info but want you to invest ,then it is a definite re flag.

You are right newcomers always lack the thought of doing a background check first before they even put their money on something. One of the dumb mistakes newbies do in the crypto industry is that they easily get on board on something once they see its promising on their view. But the mistake is they always skip the part where they do the necessary background checks and research needed to confirm it. All they ever care about is that they have the money and the rest will take care of itself. In the end they'll discover that all of their hard earned money is gone.

Well, you are so much correct about it and right attitudes will really apply in being a newbie in Cryptocurrency or everything.
Everything, every goal are things you can't get easily. If your goal is very easy to reach, then that goal isn't worth it.
There are no fast results and you have to do things repeatedly to see the results. Passion is the most important thing you have to possess if you really wanted to become successful in anything.

So if we can have all the OP saying, then we can prevent from scamming. Scamming itself could always happen for all people, and only with careful, we can prevent those things are happening to us. We should learn from time to time so we can have a knowledge which will help us to decide and to survive in the cryptocurrency. As long as we can be careful about anything we make, we could stay calm and don't attract to make the same mistake with the other people.

It is really simple and yet, it explain why you/newbie should read this thread to learn and how will these simple attitude can help you/newbies about crypto related topics, websites, social platforms and more.

This will help you and newbies to become more cautious/careful to avoid problems that you may encounter (if there is any).

This should be avoided at all cost because being a greedy or having a strong desire person won't do any good at all. Being a gready can also lead to losing all your funds in which this case of losing your funds will/could happen anytime to gamblers.

Having increasing your safety measures means you are making yourself secured like adding 2FA as stated by the op, you can also be safe from phishing links by blocking the known phishing sites or links and more possible phishing links/sites and more ways to keep your crypto safe from potential malwares.

Read and research more will increase your knowledge and it will also help you find more secured way to avoid getting scammed or phished by phishing links/sites, more reading and more research can also help you observe more accurate than before in avoiding, spotting possible schemes.

One thing to always remember is this, Bitcoin is Money and money has value. Something with value will always be targeted by thieves and scammers and Bitcoin is an ideal target, because it is a new form of money with anonymity as a pertinent feature.

Also, any new technology would bring a lot of greedy and "newbie" investors to the scene and these people are easy targets for scammers.

This is why proper research and vigilance is of utmost importance, when you dealing with any new technology. 

And that's how you differentiate the average investor from the smart ones. The smart ones always learn from other investors experience (taking their time to do some research and practicing the attitude highlighted by OP). It's the safest and best way of learning than the so called popular opinion of learning from experience (which has a price tagged to other).

The post was simple, short and direct. Loved it. I believe those attitude are the reason I'm still actively participating in the industry till date.

Agree, some want the famous get rich quick scheme and got burn in process badly.
We could summare this guide to just be caucious, learn because knowledge is best security you can get in Bitcoin world.

There are people who already knows the risks but still pushing their desire to somehow hit a passive income when they deposit their precious money in a sh*t company. Even you tell them that crypto isn't an overnight quick rich scheme still they want to test the water.

In this case, Id rather not to stopped them and let them see the result by themselves.

At most of the cases, people will just learned once they experienced worst.

That is it with a little self guide you can easily avoid being scam because the cryptocurrency space is full with people who are ready to steal your asset from you but if you are not greedy the scammers will fine it almost impossible to get away with your hard work. They activities in the cryptocurrency industry have given the entire a very bad name.

This a good measures that can really help newbie in becoming safe in cryptocurrency but to add to what the OP has stated.
Newbies should also learn how to protect themselves on other social media and how to use the report spam and block indiscriminate users, also how to separate there email address like using one for a particular purpose

 Am not much of an expert in cryptocurrency am still very much learning each day and open to correction but I have come across most people complains about cryptocurrency both here in the forum and on other social media platform.
Even in my locality you mentioning bitcoin or cryptocurrency to some set might tag you as a fraudster.
It's true that cryptocurrency has a wide range of scam activities from peer to peer scamming, exchange scamming, escrow, ico and the list goes on.

Having some simple attitude or character can help if not to completely avoid scam can help reduce it.

*be on guard(observant).. Most think cryptocurrency is a get rich scheme that every done here is to there favour. Being observant is key always question everything you don't understand cross check activities before carrying it out.

*avoid covetousness. Every one want to be successful but having an ambiguous dreams can lead you down wards. Fraudster most likely prey are does greedy ones. They offer you an enticing package(but unreal) and then you fall a prey.

* safety measures. This can range from protecting your private keys, adopting new means of protection of device like 2fa authenticator, avoid click suspicious links and attachments

*read and research... We stop learning the day we die. And ignorance is a big time disease which reading and research can tackle cultivating this habit as a newbie can be of great advantage you tend to discover more and how the cryptocurrency world functions