Topic: Threat lies in every corner while investing in crypto (a must read for newbies) (Read 337 times)

Awareness of crypto investment must be built before we enter the investment. Awareness here includes several key elements that are crucial to consider and think about. Awareness of our self-affordability, our emotion, and also strategy on taking decisions in what project I must invest. For, we know exactly that scammers are now very various, impersonating very real teams, but they are exactly real scammers. As you said, newbies always become the main target of scams, because many newbies are not aware of their ability to invest in new projects. Most of them are easily trapped in scam projects in which they think that the project is very legit.

This is essential, although we have analyzed carefully the teams, in fact, they can impersonate very real. Itis not easy to ensure that the team is exactly real or not, moreover for newbies, may not think about this.
Their promise is commonly very convincing, they have raised their hard-cap to ensure that their project is real. They may also give their token to ensure the investors about their prjects. But in fact, the tokens are only trash, never be listed in any exchange,a nd their team is gone.

If you are manipulated by greed, you will really see all projects are promising so you easily put your money and invest. And when you start losing, that’s when you realize that out of 10 projects, there could only be one genuine project that will satisfy you with its biggest profits possible. That is why be knowledgeable and skillful at first so you can easily check which one is more risky or less risky to invest. Be cautious in investing as not all the coins are worth investing. Some are just blinding you with their promising words and then eventually you’ll be put in their traps.

Just go ahead and read the section on alternative coins. There, newbies sincerely believe that one day they will get X100 or more by risking buying some tokens. I've always wondered where they got such confidence from. After all, this is not the first year we have discouraged them from keeping new coins, but the number of believers has not decreased. And almost all of them write that they have no experience, but Bitcoin does not inspire them. Why? For myself, I realized that there are people who live in a parallel world, who consider themselves smarter than everyone else, and who do not hear or listen to other people who have already walked a similar path. Therefore, it is always fun to read how a person, having sobered up, regrets the lost time and comes to Bitcoin.

It's still a threat for someone who bought BTC at 65,000$ and hold because you can never tell if they are physically and mentally ready to hold for long, till another bull market gets here, also you can never tell the kinda life style the investor is living in, if things gets tougher they might be forced to give up.

As most of the new investors are motivated with greed and they only want the quickest profits, then scammers are force to give what they want. The reason why a lot of new projects these days seem to be profitable at first but later on, when they already achieve their target profits, developers just leave and abandon the project, leaving all the investors losing their capital.

Crypto investments are highly risky, and investors even made it higher when they come to the market unprepared and only aim for profits, without the passion and hardwork to work on it first.

Because it's gambling. Your anecdotes are irrelevant. Come back to me when you will have 1000 closed altcoin trades, and over 50% of them will be profitable. Because a couple of profitable trades mean nothing. It's like going to a casino, winning your first bet and thinking that casino is a viable way to make money.

Just so as not to be misleading, I think the proper title of this thread is:


I can absolutely assure you that by investing in bitcoin, you will eliminate all the threats you wrote about in the OP. On the other hand, you will continue to feel that there is a huge risk behind new or old altcoin projects considering that most of them are centralized projects. So that is the reason why bitcoin is the best investment asset in crypto.

In all types of investments, not only for crypto, the risks will always be there. The reason why we should never invest with an empty knowledge because that will push us to create stupid decisions that we will regret later on. Instead, acquire first hand knowledge and develop your skills first before engaging into crypto investments, that way the risks of losing will be lessen. Also, we should need more patience particularly for newbies as they find it hard to invest with the best entry and sell them in the wrong timing.

Investment should be used when you use your capital to buy something that is safe and potentially brings profit to you after holding time.

I don't consider buying altcoins and holding them is investment especially if it is about very new altcoins. They can be minted from thin air, with a polishing white paper and roadmap but we can not know how their team will be able to keep up their promises and complete all tasks they wrote in white paper and roadmap.

Solana, Polkadot and other new chains recent months got many issues to maintain their operations. They are promising a few months after launches but later, we saw that they did not actually change any game. They are not game changers, just other failed altcoins.

Op is talking about investing which differs from trading in several aspects. If you say investing is just a matter of profit and loss, you need to know how online dating scams work, wallet hacks by phishing sites, rugpull cases that were trending last year, and the like. All of these cases are under the guise of investment and most of them are experienced by beginners who think about profits many times over.
However, your advice is not good for beginners.

There are many ways to approach the market investment and it depends on you what ways you choose for it to make profits or not.For example if you are complete newbie and don't have any knowledge about the market then without any hesitation bitcoin is the best investment is for you but some will say at what point? So the answer is anytime you decide to invest is best but your goal should be holding long term say 4+ years and you can check it has always given return to holders in this cycle.Second rule says invest amount you afford to loose or better do DCA in it to accumulate more with the amount you are willing to invest overtime.

Now for the altcoins/shitcoin projects you are saying then yes there are many ways to scam people and most of them are pump dump scheme setup to fool you around but still you can make profits out of them in short term trading as many do but not trust them for long term because they don't have any utility and liquidity in the market so coins will be lying dead in your wallets with zero value.So better sell them at right time to make profits.

It's really hard to judge a project by reading documents as they can be easily manipulated and you can write and promise anything that sounds lucrative to the investors and once you raise funds they are transferred to some other address and bypass the exchange restrictions and can't be freezed as well so they are rug.But also sometimes there are project which provide return to you with some utility but it's hard to find so best is to stick with good alternative only.

The best is to look for already existing coins and invest during bear market. Out of all, the best is to invest in bitcoin. New projects are very risky, there are thousands known crypto projects in the past that turned out bad. There are many newbies that were scammed without any new project launched, but they were scam with deceit. To avoid these, dump and pump project and many other scam projects, bitcoin is the the best to go for.

Ok I've read few comments saying BTC is the only way to go but I refuse this advice because Quant have doubled my money since last BTC bottom of 17500$, I bought quant at 98$, this is just one out of 5 altcoins that have doubled my money, why are you advising people not to invest In altcoins? I don't get you.

The best way to avoid crypto scams is to just not touch altcoins. It's not worth it, don't think that you have the knowledge and skill to recognize a hidden gem that will go x1000 - you don't and they don't exist. Crypto markets are markets of pump and dump schemes, the insiders and manipulators are profiting the most, while the masses of traders are losing their money.

Trading crypto is like participating in a HYIP - everyone knows that it's a scam, but still people participate in it, because they think they can outsmart others. But the house always wins.

Right, don't be too trusting in new projects even though they have raised millions of dollars in sales and the total supply is small, those other partnerships really don't guarantee to be more successful in staying in the market they are just trying to take advantage when people are interested in investing in new projects but in reality we will lose if we invest in the project.

For me, stick to Bitcoin being one of the safest coins and it won't fall as badly as other coins, even though you already believe in the new project bringing the idea but remember it's all just what they planned so there's no guarantee in it. that, I don't even believe in it at all.

Bitcoin is a coin to be HODLed for all time.

New projects these days are full of false promises and lies, and the team is always prepared with some amazing lies that appear very real, which always take an eye if investors participate in the projects.

Many recent investors want quick money, which is why they don't bother looking at the team partnerships. Some will look at the partnership and the project development team but will not dig into their reputation.
It is always a good idea to know the ins and outs of the project team, to ensure they are genuine, and to ensure their partners have managed more than two projects previously, in order to reduce the risk of the investment.

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Always Invest the Amount you can afford to lose.

Yhe question you asked is also what I have been asking...Why not choose number 1? Thank God I have come to the real knowledge and understanding of cryptocurrency in totality.
I met a friend the other day who is seriously into altcoins he makes again and he makes money from them according to him. I had no problems with that, but he was discrediting bitcoin investment. I asked him why don't he invest in number 1 cryptocurrency which is Bitcoin instead of gambling without altcoins and shitcoins. His answer was simple, bitcoin will not give him good profits.  I said well it is because of the profits that makes people to lose money .

There is no way altcoins will rise without bitcoin rising, for altcoins to rise means bitcoin has risen and pulled them.
This means bitcoin will also give profits even if not massive but the sure thing is that in 5yrs time, bitcoin will still be here which cannot be said of some other coins.

And then after reading this topic, a newbie would ask, "so what, then, is left as a reliable basis for investing in a crypto project?" Is there any? To be quite honest, I can't really think of one. While there are strong altcoins out there like Monero or Ethereum, they are obviously not as solid as Bitcoin itself. So if we are talking of threats and therefore risks in the wide crypto market, Bitcoin is indeed the safest choice. It's the only coin worth HODLing.

You're right as well, there's no doubt that alot of people have make it from investing on altcoins, but let's take the survey abit and see, how many of those altcoins they have invested in the past are still existing to this day? how many investors loose their money away all because of this investment with altcoins and compare it to the ones that survived it by making fortune out of it, alot of wealth have been diverted through this and many lives have been displaced into trauma due to bounties, the gain is high quite alright but the risk is higher than expected at the end and only few narrowly escape their trick.

Before you enter the field of cryptocurrency investments you should be as much informed on the subject as possible. You should also carefully analyze your personal finances and give a detailed plan for your investments so that in the event of unexpected changes, you will find it easy to protect your funds. In the end, each person decides whether or not to make the step into crypto investments, but the key thing is to take this step without unrealistic expectations and without neglecting the risk that exists therein.

While there is no investment that guarantees returns or a safe haven from market downturns, crypto investing is particularly risky due to its unregulated nature. Anyone considering buying crypto coins should first educate themselves about Bitcoin and the crypto world in general. It's also worth doing further research on each of the coins you're interested in to make sure their usage suits your needs and expectations before buying them. The market is full of sharks and scammers, so be careful!