Topic: Tips that could help crypto beginners. (Read 349 times)

When we are newbies, we must be more careful in following the influencers. We know that they only follow those people without any other knowledge dn consideration, they may be trapped iht this situation. They may be failed in some Ponzi scheme, hype, and also FOMO without any analysis. That is why actually this is also risky.
However, if we can learn more about crypto entirely, we can be more careful and wiser in any decision related to the crypto market situation

An investment will always remain an investment. There are similar stocks that if you hold since 2013 would have made someone a millionaire by now. People don't look into the future. Isn't it obvious that bitcoin may soon replace Cards transactions? It's easier to use and transactions are confirmed swiftly. No need 4 chips. I recommend any beginner of crypto to invest in cryptocurrency the same way he/she will do if buying shares.

I mean surely when you have been holding Bitcoin since 2013, you could have been one of those millionaires already.
Being millionaire in crypto is almost similar being millionaire outside crypto. Pray to the crypto gods that the next thing you hold would lead you to being one of those people.
I never dreamt being millionaire both crypto and outside crypto, since it is kind of giving me desperation to make luck be on my side and that is not really a healthy mentality for me.

If crypto was to make a person millionaire, surely every single people on Earth and other dimensions had bought cryptos since.

No one gets rich instantly in crypto, but if you invest initially half of your wealth, then you will reap millions of profits in just a month or a year. This is mostly the result if you are a big time investor. But for regular investors, never expect that the same thing will happen as it may only end up believing bitcoin or crypto as a quick rich scheme. One thing is certain is that, you will endure a lot of losses first before you consider yourself becoming rich in crypto.

These are the reason why I believe the tips provided by the OP during the lesson could do more harm to the student because they may only have the understanding that being a millionaire is the may possible of cryptocurrency.
Meanwhile, the crypto millionaire we see today are millionaires because they understand the fundamental of crypto and find a problem in crypto and solve or think outside the box.

I think OP is also thinking that having in crypto, and investing in Bitcoin makes him a millionaire. Not a thing I would say no as it was possible not we put this as motivation or whatever. Putting an example in class, it was for sure not all of them have the same mindset and ambition in life so, therefore, we can't also think that these newbies will also follow what OP has said. In fact, I'd never think this before when I was new in this market, all I just want is to earn some profit and make this as other sources of income - I was not too greedy that I think becoming a millionaire.

Your friends buying with just 20$ understand the risk, they threw in what they are ready to lose, the funny thing is I have some tokens like that in my wallet, invested only 20$ -30$ in them, low market cap but the projects are currently developing, making names for themselves, anything can happen, and I invest 100$+ in well developed projects in top 20, I think this is the way, also entry point matters too.

beginners should prioritize how they understand investing properly and what to do, not just to become a millionaire through the investments made. Everyone even wants to be a millionaire, but the initial mindset that must be focused on is how to understand the basic science of crypto.

Crypto millionaires do not come from those who only think about money at every step they take, but those who can become millionaires are those who are willing to learn any basic knowledge of crypto until they understand.

I realized that at the beginning I was only interested in the money I made, but once I understood it I appreciated more how knowledge was the main focus. The income from crypto is just a bonus thanks to the hard work and effort that has been done so far.

This is an important thought, but the main thing is not to get "centipede syndrome" from it - you know, when centipede thought for so long about which leg to start walking from, that it never budged. I have this happening periodically

Yes, this includes money management. Many people who are doing investment will always have certain diversification to earn more profits from various sources and also to decrease the risks of losing all money at one time. This diversification is exactly very beneficial, moreover if you are going to invest. Investing in crypto may be one of the ways, then, it is also good enough to save our money to invest also on others, like gold, property, or stocks. However, not all people are able to invest in several sources, which is why money management will be varied among people. AT least, we have the basic rules of investment, that is: only invest the amount that you can afford to lose.

I am not sure that these tips will be easy to implement and really work. But at least, these tips will help us to have a better investment. Moreover, the result will also depend on several things:
- Amount of the initial capital for investment
- What investment we are taking
- How long we will invest the money
- What risk we can afford?

About the disillusioned. Although the OP is trying to help crypto beginners but I also have the impression that he will also add to their problem because the whole statement was about being a crypto millionaire, not something that will make them appreciate the technology and the reason for cryptocurrency existence.
If the class was all about making money the student may end up making none because only the crypto enthusiast that appreciates the benefit of crypto are those who will see as the crypto millionaire of today.

a volatile market will provide both gains and losses, so it provides faster returns for those who understand how to take advantage of the state of the market. For beginners it looks scary, because price changes will happen very quickly depending on market conditions and some negative sentiment. For those who are not ready with volatile markets it is advisable to learn and understand the crypto market first. Many who enter crypto are just curious and want to try it, without sufficient knowledge. This will be very dangerous. At least have some basic knowledge before going any further.

Risk is a significant component of all businesses and investments, including those involving cryptocurrencies. It's important to place an emphasis on learning because, as we all know, there is risk involved and it could cost an investor everything. Make sure you are aware and knowledgeable about the investment you intend to make before making it, as this will help to reduce risk and may result in successful investment strategies. Because you can discover and comprehend what it's all about.

It is true that the cryptocurrency market is unstable; we experience both bull and bear markets. To avoid panicking and selling when the price is down, it is crucial to be very patient as the situation demands. Try to be well-prepared for the market.

To me, these lines are somehow irresponsible. These are misleading at the very least. At most, this actually creates an impression or reinforces the current impression especially among newbies that crypto is a get-rich-quick scheme. Of course, it could happen that somebody could hit it big in crypto just as anybody could actually become a millionaire by doing whatever he/she is passionate about, but to make it appear as if anybody could freely become a millionaire in crypto is wrong.

Unfortunately, there are a lot of articles like the one the OP referred to on the Internet. And from here we see so many disillusioned people who invested their money in the hope of becoming millionaires. 
I like this remark.


The advice can only be given by those who have been successful. There are so many motivational articles and projects that promise quick profits, but where are they all today? Anyone who writes like this just makes money on traffic. 
I would like to ask the OP: What is the purpose of this post? Can you tell us about your successes with alternative coins? Have you become rich?

It's easy to copy and paste other people's articles, but personal experience always speaks the most.

You deserve some credit for introducing your friends to the forum and enlightening them on how to maximize the priceless information from this forum. But it seems that the objectives of the class is inconsistent with the lessons you taught. Although the forum is a goldmine of diverse information on Bitcoin investment but I have never come across any thread that talks about making members crypto millionaires. It seems to me that you have introduced the forum to them as a millionaires club where people can come and get information to become rich. I have read through your post and I never saw a place where you highlighted or discussed the educational and mentorship benefit of this forum with your friends.   

You also did well to inform them about the risk involved in investing in cryptocurrencies. Informing them that it is not a get-rich-quick scheme and discussing the volatility of the market with them is also wonderful. But each time I see words like Tips to become a CRYPTO MILLIONAIRE, I feel very uncomfortable. There are no guaranteed pathways or tips to becoming a millionaire in any form of investment. And the world have been brainwashed that only millionaires are successful. People are making a few hundreds and thousands from the crypto industry and they are also cool and content. Informing them that you have the tips to make them crypto millionaires might mean that you are introducing the industry as a get-rich-quick scheme.

And you have to be very careful because people in your area might start seeing you as a crypto millionaire. Since you can teach how to be rich in the crypto space, then you are already a millionaire. You might be attracting criminals because they might want to get some of your millions.   

It's attractive and deceiving at the same time. Noncoiners would like to think that everyone who holds crypto is now a millionaire even broke in reality and shitcoins being held are dropping fast like there's no stop. Although we like to be one someday and we're all thinking of ways, it's for the investors to do their own research before investing in one. I think mainly for beginners, what they need to think is to learn the market first and how it's really volatile at all times.

BTC and metaverse. this is indeed a different world. Metaverse is the hype in today's era. Investing in the metaverse as an early adopter some time ago was able to provide big profits for investors, traders and community holders. But, if I personally were given a choice (this is not financial advice), then I would go all-in in BTC rather than venture into the metaverse. Because, I have to do further research to find out the potential viability of the project. Meanwhile, BTC has more potential in any way. IMO / NFA

The thing about VCs is that they are usually investing in early sale phase where they get tokens for much lower price, and then they dump them on the average buyers that join after listing. So no, average investor shouldn't compare themselves with VCs. And if we learned anything in the last few months, its that even big names can make stupid mistakes and go bankrupt, so investing in bitcoin still remain the safest thing to do, no matter how deep your pockets are.

If VCs are investing in altcoins I don't see any reason why anyone shouldn't, either its a scam or not if you use what you can afford to lose there will never be any problem, the only thing left is learning a better lesson and adjust as you go, we've all lose money at one point in crypto space but we get better, I know bitcoin is the safest but BTC and Metaverse are from from each other, BTC and P2E are far from each other, I am not going to stick with BTC only, its impossible.