Topic: Tips for newbie to long-term investing - page 7. (Read 2586 times)

Quote from: Rigon on July 29, 2022, 12:10:30 PM

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

ETH and ADA are still quite profitable these days, but I suggest focus on accumulating more bitcoin that will bring more profits into your wallet in the future. While others are in panic buying all those cheap altcoins in the market, smart people prefer to stick on bitcoin and maximize their hodlings because somehow, it will also give them huge profits when bitcoin reaches its new ATH again. It’s not bad to stack your fiat in crypto, but always know what and where to invest so your money will not go into waste.

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Yes it is true that for long term investment you must select the best and popular coins.If you make a wrong choice to invest you will have to pay for it so simply you need to choose the best currency first.Bitcoin Ethereum and BNB are all the coins you can keep as the best coins to invest in your portfolio.The currency to invest in must see how popular the currency is in the market and what is the market cap? Especially if it is listed on the most popular exchanges?

This is a fact, because indeed if you look at the last few years currently the top coins there are bitcoin and Ethereum, then regardless of what they are, they are one that is worth keeping in the long term.
The problem is that people are panicking too much about the temporary dip right now although this is quite natural because Psychological factors would say it's very unsafe to keep coins when the market is in the red but obviously they should be more aware that selling is not the right thing to do.

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From the beginning I understand that learning of trading is something that needs much time and basically for someone that don't have the ideology. And secondly threading of cryptocurrency or trading of anything is being given profit because of your basic understanding of trading somebody lose into trading because the basic knowledge of threading is not be found anywhere towards the person so therefore. Newbies I meant to understand or learn the positive of teading before I need.I can't device any of my relative go jump into trading without having the knowledge at first.

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I think it's not really that much important how "rich" you can get, it is important how long you can stay. There are a lot of newbies who do get in, and do the right thing to be fair, but then they end up making the wrong move when the bear time comes. Definitely getting in right now during the bear means would result with you making a profit when the price goes up. But, that doesn't change the question of how long you can stay.

If you can stay like this for a decade, keep investing even more, and wait for it to skyrocket and watch it go down after that, then repeat this another 2-3 times, and then sell after 10 years when it peaks, then you would make a ton of money, for sure. But, if you get worried and sell? That will cause you to lose.

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Quote from: Nrcewker on July 07, 2022, 02:54:48 AM

Quote from: suzanne5223 on July 28, 2022, 05:36:14 PM

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

The main thing you should consider while thinking for long term is a good and stable coin.
You don't wanna end up losing all money by choosing a wrong coin like Luna etc.
So it will be best if you go for something best and solid, and here BTC or ETH comes in place. The reason for which you can choose any one from this two is due to it's popularity and marketcap.
And as you have thought for long term my friend, then I would advise that don't often see the price charts. Check the price once in a year and accordingly cash out.
Hope this helped you mate.

Yes it is true that for long term investment you must select the best and popular coins.If you make a wrong choice to invest you will have to pay for it so simply you need to choose the best currency first.Bitcoin Ethereum and BNB are all the coins you can keep as the best coins to invest in your portfolio.The currency to invest in must see how popular the currency is in the market and what is the market cap? Especially if it is listed on the most popular exchanges?

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BTC is the best coin ever which is proved to give long term returns as high than shitcoins which only last for days to weeks. So my suggestion will be its always good to accumulate more bitcoin as much as you can then you can diversify your portfolio with altcoins which can be ETH, ADA or any other coin which is doing good at the long term from your perspective.

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According to my past experience, before I join this forum, I believe newbie's reason for investing in shitcoin is having the impression that cryptocurrency is a pot of gold and once they invest in it the next thing is profit.
Despite they have the option to invest in Bitcoin using the DCA method but their no experience in the crypto sphere makes them follow crowd and paid advertisement done by influencers this is what happened with Terra.
I'm still saying it, the concept of the project ^{(Terra Luna)} didnt worth the hype.

That's for the first reason before but after years, there's the idea that there's more money in altcoins and they're going away from bitcoin because it is expensive for them. They're looking at the price of it and don't want to listen that they can buy portions of it until they make one. But no, they don't like that idea so they jump off to different cheap altcoins which they think it'll be the reason for them to become rich.

Quote from: Baofeng on July 28, 2022, 06:06:06 PM

I guess it's the entry point, coins are cheap and thinking with just a small amounts they can turn that into huge money. Which I believed many could have done, but we all know that it's not for everyone, specially newbies that don't have enough experience. For sure some of us may have undergo that same process and having that kind of mindset. But as we mature here, we learn that it's not the way, it's better to invest on solid coins like bitcoin. The return might not be very big as what we wanted, but at least the risk is not that big as compare to altcoins which can dump anytime, losing your investments in a blink of an eye.

That's right, it's the reason why they are into it. Some might get lucky doing that but for the vast majority, it isn't like that. Most are late into looking at its price when it's already at the top and that's the time they go ahead and buy it, the result, they're in major losses.

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Quote from: blockman on July 28, 2022, 05:06:30 PM

Quote from: GatotKaca on July 28, 2022, 06:41:10 AM

Quote from: blockman on July 28, 2022, 05:06:30 PM

The problem with the newbies is they're saying and justifying that bitcoin is expensive and that's why they're looking for alternatives. But, the sad thing is that they're ending up with the wrong choice and choosing those shitcoins that they shouldn't do.
And the reason? Again, going back with the first sentence that I've said and they're going to argue with you telling that it's totally fine to do that because they don't have money but neglecting the idea of DCA.

some beginners with small capital will choose altcoins that they can get at a cheaper price than bitcoin. that is the reality experienced by beginners in the crypto market.
The fault lies in the direction or persuasion that beginners get to buy shitcoin, even though there are potential altcoins on the market at low prices that we can make long-term investment assets.
newbies in the crypto market must be able to master themselves, and never be influenced by other people or the promise of huge profits that can be obtained by putting their money in shitcoin.

It is really the reality and that's why many newbies choose to get into those cheaper altcoins because they think that it's the best choice that they can do.
But little did they know, it's all about the choice and there's more volatility than they can see with the altcoins market. So for the newbies, they have the option to buy bitcoin at little amounts and accumulate it until they reach some amounts that they aim to have.

I guess it's the entry point, coins are cheap and thinking with just a small amounts they can turn that into huge money. Which I believed many could have done, but we all know that it's not for everyone, specially newbies that don't have enough experience. For sure some of us may have undergo that same process and having that kind of mindset. But as we mature here, we learn that it's not the way, it's better to invest on solid coins like bitcoin. The return might not be very big as what we wanted, but at least the risk is not that big as compare to altcoins which can dump anytime, losing your investments in a blink of an eye.

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Quote from: GatotKaca on July 28, 2022, 06:41:10 AM

Quote from: GatotKaca on July 28, 2022, 06:41:10 AM

The problem with the newbies is they're saying and justifying that bitcoin is expensive and that's why they're looking for alternatives. But, the sad thing is that they're ending up with the wrong choice and choosing those shitcoins that they shouldn't do.
And the reason? Again, going back with the first sentence that I've said and they're going to argue with you telling that it's totally fine to do that because they don't have money but neglecting the idea of DCA.

some beginners with small capital will choose altcoins that they can get at a cheaper price than bitcoin. that is the reality experienced by beginners in the crypto market.
The fault lies in the direction or persuasion that beginners get to buy shitcoin, even though there are potential altcoins on the market at low prices that we can make long-term investment assets.
newbies in the crypto market must be able to master themselves, and never be influenced by other people or the promise of huge profits that can be obtained by putting their money in shitcoin.

It is really the reality and that's why many newbies choose to get into those cheaper altcoins because they think that it's the best choice that they can do.
But little did they know, it's all about the choice and there's more volatility than they can see with the altcoins market. So for the newbies, they have the option to buy bitcoin at little amounts and accumulate it until they reach some amounts that they aim to have.

According to my past experience, before I join this forum, I believe newbie's reason for investing in shitcoin is having the impression that cryptocurrency is a pot of gold and once they invest in it the next thing is profit.
Despite they have the option to invest in Bitcoin using the DCA method but their no experience in the crypto sphere makes them follow crowd and paid advertisement done by influencers this is what happened with Terra.
I'm still saying it, the concept of the project ^{(Terra Luna)} didnt worth the hype.

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Quote from: Natalim on July 28, 2022, 09:04:20 AM

The problem with the newbies is they're saying and justifying that bitcoin is expensive and that's why they're looking for alternatives. But, the sad thing is that they're ending up with the wrong choice and choosing those shitcoins that they shouldn't do.
And the reason? Again, going back with the first sentence that I've said and they're going to argue with you telling that it's totally fine to do that because they don't have money but neglecting the idea of DCA.

some beginners with small capital will choose altcoins that they can get at a cheaper price than bitcoin. that is the reality experienced by beginners in the crypto market.
The fault lies in the direction or persuasion that beginners get to buy shitcoin, even though there are potential altcoins on the market at low prices that we can make long-term investment assets.
newbies in the crypto market must be able to master themselves, and never be influenced by other people or the promise of huge profits that can be obtained by putting their money in shitcoin.

It is really the reality and that's why many newbies choose to get into those cheaper altcoins because they think that it's the best choice that they can do.
But little did they know, it's all about the choice and there's more volatility than they can see with the altcoins market. So for the newbies, they have the option to buy bitcoin at little amounts and accumulate it until they reach some amounts that they aim to have.

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...

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA is the right move right now. Or should I be more invested in BTC in terms of potential long-term returns?

I was glad to hear from you OP appreciates the help and advice from other forum members. At least, you find it important, and following those things makes you feel comfortable with your investment and guided in the right direction. It was indeed to have a positive mindset and market adoption there is nothing we can do but take risks and understand the situation. If you can do this, no doubt that you can achieve your goal.

It's really helpful to trust the advice of the majority on this forum. Most of the people here are experienced traders and investors and we could learn a lot from them. A proper mindset will help you reach the goals that you have set. You might encounter failures and losses despite following all the advice here but that will make you a better trader and investor.

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Quote from: GatotKaca on July 28, 2022, 06:41:10 AM

...

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

I was glad to hear from you OP appreciates the help and advice from other forum members. At least, you find it important, and following those things makes you feel comfortable with your investment and guided in the right direction. It was indeed to have a positive mindset and market adoption there is nothing we can do but take risks and understand the situation. If you are able to do this, no doubt that you can achieve your goal.

kapalmabur

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Yeah staying away from shitcoin is the best move for someone who is new in this cryptocurrency market, when they waste their money on shitcoin they will have a bad experience in crypto and in the end they will be afraid to invest in crypto again. Learn how to different between a real coin and a shit coin so you won't get into the trap for shitcoin. Maybe getting a guide from a friend is also an option.

The problem with the newbies is they're saying and justifying that bitcoin is expensive and that's why they're looking for alternatives. But, the sad thing is that they're ending up with the wrong choice and choosing those shitcoins that they shouldn't do.
And the reason? Again, going back with the first sentence that I've said and they're going to argue with you telling that it's totally fine to do that because they don't have money but neglecting the idea of DCA.

some beginners with small capital will choose altcoins that they can get at a cheaper price than bitcoin. that is the reality experienced by beginners in the crypto market.
The fault lies in the direction or persuasion that beginners get to buy shitcoin, even though there are potential altcoins on the market at low prices that we can make long-term investment assets.
newbies in the crypto market must be able to master themselves, and never be influenced by other people or the promise of huge profits that can be obtained by putting their money in shitcoin.

Shitcoin is not the right choice for beginners and it's also too risky,
basically be it Bitcoin or altcoin it's a much better choice and will be profitable too,
I think beginners need to learn and understand so that they are not easily persuaded that can harm them

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Yeah staying away from shitcoin is the best move for someone who is new in this cryptocurrency market, when they waste their money on shitcoin they will have a bad experience in crypto and in the end they will be afraid to invest in crypto again. Learn how to different between a real coin and a shit coin so you won't get into the trap for shitcoin. Maybe getting a guide from a friend is also an option.

The problem with the newbies is they're saying and justifying that bitcoin is expensive and that's why they're looking for alternatives. But, the sad thing is that they're ending up with the wrong choice and choosing those shitcoins that they shouldn't do.
And the reason? Again, going back with the first sentence that I've said and they're going to argue with you telling that it's totally fine to do that because they don't have money but neglecting the idea of DCA.

some beginners with small capital will choose altcoins that they can get at a cheaper price than bitcoin. that is the reality experienced by beginners in the crypto market.
The fault lies in the direction or persuasion that beginners get to buy shitcoin, even though there are potential altcoins on the market at low prices that we can make long-term investment assets.
newbies in the crypto market must be able to master themselves, and never be influenced by other people or the promise of huge profits that can be obtained by putting their money in shitcoin.

blockman

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Yeah staying away from shitcoin is the best move for someone who is new in this cryptocurrency market, when they waste their money on shitcoin they will have a bad experience in crypto and in the end they will be afraid to invest in crypto again. Learn how to different between a real coin and a shit coin so you won't get into the trap for shitcoin. Maybe getting a guide from a friend is also an option.

The problem with the newbies is they're saying and justifying that bitcoin is expensive and that's why they're looking for alternatives. But, the sad thing is that they're ending up with the wrong choice and choosing those shitcoins that they shouldn't do.
And the reason? Again, going back with the first sentence that I've said and they're going to argue with you telling that it's totally fine to do that because they don't have money but neglecting the idea of DCA.

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Quote from: NicNacCoin on July 23, 2022, 06:33:55 PM

Tips for newbies always choose good coins while investing.Always invest on the top coins. Because since you are new to this cryptocurrency, I think you should not invest in any shitcoin.There are many coins that fluctuate a lot in the market. And once it is completely exhausted I would say you should stay away from all these coins if you want to invest long term definitely invest in all coins in bitcoin ethereum bnb In this you will have profit and risk will be less.

Yeah staying away from shitcoin is the best move for someone who is new in this cryptocurrency market, when they waste their money on shitcoin they will have a bad experience in crypto and in the end they will be afraid to invest in crypto again. Learn how to different between a real coin and a shit coin so you won't get into the trap for shitcoin. Maybe getting a guide from a friend is also an option.

While what you say is true the problem is that since developers with dubious intentions are behind those shitcoins then they can say and do whatever they want to convince those newbies to invest in their coin, and once newbies realize their mistake their losses are so big there is nothing they can do to ever recover the money lost, it is because of this that it is important to repeat as many times as necessary this information, so we can save them from making those costly mistakes and they do not form a negative opinion of this market.

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Quote from: NicNacCoin on July 23, 2022, 06:33:55 PM

Tips for newbies always choose good coins while investing.Always invest on the top coins. Because since you are new to this cryptocurrency, I think you should not invest in any shitcoin.There are many coins that fluctuate a lot in the market. And once it is completely exhausted I would say you should stay away from all these coins if you want to invest long term definitely invest in all coins in bitcoin ethereum bnb In this you will have profit and risk will be less.

Yeah staying away from shitcoin is the best move for someone who is new in this cryptocurrency market, when they waste their money on shitcoin they will have a bad experience in crypto and in the end they will be afraid to invest in crypto again. Learn how to different between a real coin and a shit coin so you won't get into the trap for shitcoin. Maybe getting a guide from a friend is also an option.

NicNacCoin

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Tips for newbies always choose good coins while investing.Always invest on the top coins. Because since you are new to this cryptocurrency, I think you should not invest in any shitcoin.There are many coins that fluctuate a lot in the market. And once it is completely exhausted I would say you should stay away from all these coins if you want to invest long term definitely invest in all coins in bitcoin ethereum bnb In this you will have profit and risk will be less.

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Quote from: abel1337 on July 23, 2022, 03:24:45 PM

...Would this be a wise decision? Or should I just keep going with the approach I have now?..

Even small investment can make big difference when the time comes. There are different approach in buying a crypto, There are many who are trying to catch the bottom but honestly it's very difficult since I have seen many altcoins dipped lower than their base price last bear market.

I don't so much advice newbie investors to look towards an altcoin investment for a long term. Most of those coins never gets a second chance after a bear market such as we are experiencing now. A lot of them turns out to be shitcoins afterwards and quickly goes down with the crypto winter.

When it comes to bitcoin, it's always a different story. It's always a certainty that the coin would rise but when is always the issue so, one has got to pateint and know that ots sure to rise in due time, speculatively after a bitcoin halving. Although, that's certain not the way to make the most of it as there are always future profits for holding longer. You just hold and spend only what is necessary of it as the need arises.

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