Topic: Threat lies in every corner while investing in crypto (a must read for newbies) - page 2. (Read 337 times)

There is no threat in crypto currency, none at all. Instead in crypto currency there are profits and losses.
Before investing you need to understand

why and when to invest;
why and when to take profits,
why and when to cut loss
what and which tokens to buy
what and which network chain is best for you

Understanding the above metrics with simple knowledge about trading psychology will go a long way to helping everyone survive crypto market

If so, the best advice for beginners should be to invest in bitcoin instead of new altcoin. Why do I suggest that, the main thing is that bitcoin never promises anything grandiose about its potential but traders and investors will play a direct role in creating its potential in the market.

On the other hand, bitcoin is an asset that is also not completely without risk. There are a few things to consider for anyone looking to invest, adopt as a currency, and the like. The risk is real, it is a high value currency so a good understanding will help them to minimize the risk.

We have already talked about this many times, but it is not bad to repeat.
Not only crypto, but every investment, forex, stock market... are high-risk and before every investment you should analyze the market well, assess the risks, make an investment plan in accordance with your financial capabilities and have a clear exit strategy.
Beautiful websites with interesting figures and promises will always attract someone, but first you should always check all the facts and have a clear idea of what you are investing in.
At the same time, it is always good to diversify investments, not only in crypto projects but in various asset classes, in order to reduce investment risk.

I don't understand why newbies are favor to pick few projects from 21K projects to invest while they can just pick the top 1 which the longest and have proven to anyone if it's can't become a dead coin when bear season happen. I think their greediness who want to double or triple their money in short time are their main reason, but they're actually not investing, they're much more like gambling. There's no way in this day to determine a good project since every project are act like a genuine project.

Most of the new investors and developers on crypto are those school boys that wants quick buck on there investment or by developing shit projects that involves NFT or DeFi. Crypto is infested by a lot of scammer and at the same time newbie traders are always the victim on this kind scheme.

Crypto is already risky even before but the existence of NFT and other new shit idea that makes scammers scam easily by just creating garbage NFT and worthless token makes the crypto space more risky. The fun fact is people never learned to stay away on this shit project despite that they already know that it’s a scam. People only wants to ride the hype so they will never learn.

I do agree with you that for anyone that's investing in cryptocurrency is taking a risk irrespective of the coin involved only that coin's like Bitcoin gives an improve and reliable security to your invested asset.
But looking at it on the other way round, alt coins despite how unreliable it is said to be has created some wealth to many out there although I won't advise anyone to go into it cause much persons have rather received the negative end of it. One thing I noticed is that it's mostly those with little cash to start with are the people that are more dominant in alt coin investment.

Investing in cryptocurrency is a threat on itself for taking an extreme risk, but choosing bitcoin for an investment is part of the rescue means you have, many have lost their assets into waste due to wrong investment made on altcoins without the first discovery of bitcoin and now they must have learnt their own lesson but in a hard way, we must not also follow such trail all because of fast profits, what we will start within a short period to yield us big amounts will not last at all, let's all have a sound beginning with bitcoin and avoid fear of what the future maybe with altcoins.

Always make sure you take crypto ventures as high risk way of making money because threats lies in every corner, this is why investing only what you can afford to lose is the best strategy ever, there are few mistakes that newbies always do when glimpsing into new projects that I will like to correct..

A project can raise millions today and still go awry in future, do not let this be the reason of your investment in any project, those millions of dollars you read that they raised online is sometimes for the team's fat pocket only.

A project that's been Audited or Doxxed means nothing, this days teams will appear online and in video and they will still rob people, it doesn't count anymore.

Partnerships is very good but still not 100% guaranteed that a project will perform better in future, I have seen people getting too excited because of multiple partnerships, few P2E projects are down 98% right now upon all the partners they got in the bull market, I doubt they will ever recover.

Many people trust projects with low max supply easily, they start calculating in hundreds of dollars per coin 🪙 in few years, 10,000,000 supply is less than 21,000,000 of total max supply BTC has but yet this doesn't mean a project will perform so great because of its limited max supply.

Do not bet on promises that Team members give you, they are saying that to ease your mind so you can probably hold and invest more or bring in more people, relatives and friends, and projects that do deliver gives no promises to their investors.

Team's and Developers past experience matters but we are human, greed can consume even the most loyal hearts, do not bet your hard-earned money on a human's trust and promises, only invest what you are willing to lose. Take care