Topic: What is the biggest issue for beginners ? - page 2. (Read 1689 times)

Not loosing the password for the wallet.

I have been on the Internet for a very long time and people have believed since the beginning of the Internet that a lot of money can be made on the Internet without concrete work and effort.
People used to invest in mlm schemes or revenue sharing programs without a specific product or service and now they believe they just need to invest some money in cryptocurrencies and wait to become rich.
Beginners should first be well informed about cryptocurrencies and have realistic expectations otherwise they may lose everything here, both their money and time.
Wrong judgments and decisions can result in disaster and many losses.

As a newbie who's "officially" been in the crypto space for about two weeks my biggest issues have been:

1. Figuring out how, when, and where to buy crypto. There's so many exchanges, websites, apps, etc that are similar but also different. Wading
    through all these choices and trying to figure out how to protect yourself and your personal info is extremely tedious and intimidating. When I first
    started to research crypto and how to enter the space the price was around 20k for bitcoin. By the time I felt safe enough to enter it was in the 30k
    region and rising fast. I felt extremely pressured and intimidated because of this. I made my first bitcoin purchase from a P2P site with cash in person
    (at a police station safe exchange zone). The transaction was very smooth and the seller was very helpful. It was only for a few hundred dollars but I
    was ok with it because I just wanted to figure out how to do things. When I got home I transferred the bitcoin to my cold storage and felt pretty good
    about completing the process. My second purchase was larger and from the same person but at about 15% higher price because I didn't wait for the
    dip to reach the bottom (MY FIRST BIG MISTAKE). I didn't buy at the ATH but I should have waited out the dip, but because I had to meet the seller
    at a certain day/time I paid too high of a price. It's also a good way to learn to not buy/trade hastily and with too much emotion.

2. KYC vs No KYC - I joined one of the big exchanges first but stopped short of giving my bank information because I just didn't feel comfortable
    doing it yet. So far I have only done purchases from P2P in person with cash without having to give out any personal info. But I'm realizing that I
    need a better way of purchasing crypto instantaneously to get it at the price I want, and because of this I'm pretty sure I'm going to have to use my
    personal and bank information on one of the exchanges/apps. I honestly don't see a way around this, but maybe that's just because I'm
    inexperienced. But in order to DCA and buy at the dips I feel that you need the instant purchasing power of an exchange or app that specifically does
    this. Pure P2P is great but you're at the mercy of who's online at the moment and their prices, not to mention you absolutely have to be sure your
    transaction is safe from robbery, scams, or even undercover cops.

3. Technical learning curve - Some things you just have to learn on the fly. One example is how bitcoin has unique addresses for each transaction and
    other coins use the same address. Another time an address had some strange icon at the beginning and I didn't know if it would mess up my
    transaction (it didn't). Bitcoin fees, Ethereum network fees, exchange fees, etc I'm still trying to figure out.

All in all it's been a very eye opening experience. Being on this message board has been very helpful as well as watching thousands of Youtube videos. You just have to wade through all the scams and BS, which is not easy. I don't think I'll get rich from crypto, but if I do things right it'll definitely be better off than if I didn't get into the space. It's also pretty interesting and seeing how blockchain works and the potential that it has. I have a very long road ahead of me in terms of crypto but as long as it matures in a mostly positive way and I enjoy learning it I'll stay in. My advice is just to get in for as much as you can afford (even if it's $50 - $100). Take baby steps and learn (read everything you can and watch Youtube tutorials), it's a crazy space now but when it does settle down and mature I think you'll be better off getting into it now before mass adoption.

Many beginners start their Crypto race with the wrong impression about cryptocurrency. They don’t have good knowledge about Cryptocurrency and want to make huge millions in a couple of years. They invest hugely into Cryptocurrency and many fall in the hand of Crypto evil doers.

Don't force yourself too much. Everything will come to you gradually, as it does to most of us.



Concentrate only on those you need at the moment. First of all, there is nothing wrong with the use of online wallet services (with the necessary precautions). When you've got a larger amount of crypto, you can easily migrate to some more secure solutions.
Useful reading: [General] Bitcoin Wallets - Which, what, why?


You may find this topic useful: Terminology


My suggestion, follow the Scam Accusations board and don't forget the golden rule, "If it looks too good to be true, it usually is."
Useful reading: Guidelines, how to spot a scam ICO & report effectively.


Try to add something that is useful to this community, and the community will reward it. I know this can be challenging for newcomers, but try to find your niche and write in topics that genuinely interest you. Don't just focus on earning merit, they'll come naturally.

Most of the things you listed are technical in nature and are quickly learned and understood by new members, don't worry.
As for the merit system, there's no need to be too burdened with it and think about it a lot.
I advise you to slowly learn about new things, educate yourself and through that you will grow and the quality of your posts on the forum will be better until someone recognizes it and gives you the merits.
This requires your time and investment and above all your patience.

Just a word of advice, learn on cryptocurrencies but do not chase for profit.

If you truly want to know about cryptocurrencies, there are lots of resources here in the forum. Lots of people are making guides, sharing their respective experiences, and teaching the basics of bitcoin. If you view this forum primarily for profit, chances are you won't be getting any. Learn while at the same time share your knowledge.

Newbies have a hard time in the forum because of their perspective that they joined here for 'profit'. I understand that there are opportunities like that but if you are determined enough to learn, that will be your investment for long-term.

This hit me! Im a newbie and i am really having a hard time in exploring things here. Though i searched and watched related things about bitcoin, i still wonder how earn here ( if we are talking about the forum) but luckily we have internet and help.page to help.us through the process. There are also things im still learning like:

- making different wallets, for bitcoin, ethereum etc.
- a lot of unfamiliar words related to bitcoin, that seems the same meaning if you read it but really not.
- can't differentiate real deals to the scams. Newbies are tend to lure by it.
- the merit system. Its not that i dont like this, but somehow eventhough we post good and meaning topic but if some people wont notice, newbie will be stay in its rank.
-and update other as i dig deeper to the forum.

When I was still a newbie the biggest issue (which also gave me a lesson) is the part where I am greedy to earn and often invest in hyip websites.

I thought its a good idea knowing that you wont do something hard like exerting an effort in order to earn. Just invest and wait, so easy. I guess im a newbie that doesnt give a damn to take time learning about crypto and the legit way to earn to avoid scams.

I didnt know all of these but after losing a huge amount, I realized my mistakes and how important to do a research before entering in any investment opportunity.

if you're talking about crypto with beginners the issues with them are that they don't know what's wrong, they commit a lot of mistakes because of a lack of knowledge as a beginner, for example, when I started in bitcointalk i have almost one bitcoin, and top coins also, since I don't know how to use them I spend them on useless projects and many things, I think as a beginner you need to have a small grasp of knowledge as a starter and learn bit by bit, along the way, lessen the mistake in the future, don't just follow what you read or heard from anyone, you need to do some research and ask people who really are trustworthy.

First in our forum.

Some of the members don't take a look at the backbone of the forum which is the rules they ignore a lot of information that possibly gives them a chance to earn merit and rank up immediately. Also, they already attempted with the signature campaign and pushing out some of them the courage to rank up and create a lot of helpful threads. Few of them went to the bounty campaigns which is the cause of spamming too much and become a low-quality user.

Please avoid this kind of habit exchange an idea not to give a trash idea.

Also on their self-improvement, they want to earn with the cryptocurrency but the problem is they don't take time to invest knowledge this cause them to a mistake to their future investment, trade, or other related to crypto.

Just like myself, the biggest issue I used to have was greed when I was a novice in the cryptocurrency world, which is the ability of eyeing greater profits without patiently waiting for a good turn to take a reasonable profit. I used to have an hasty impression about crypto trading which is earning a quick profit within a short period of time, I never knew trading doesn't goes that way until I was scammed. Ever since then, I got to research well and learnt so many aspects of trading, I got to be patient and realise all what seems shady to me in trading, I actually learnt my lesson in a very hard way. Bet now, I can tell the right from wrong and I would always think critically whenever I need to take any form of step before venturing into any trading.

The key is to keep reading replies to relevant topics, they helped a lot  and most importantly, remember to do more findings on your own, no one is epitome of knowledge and we're bound to mistakes irrespective of experience.  Allow me to share a short story with you.

Just last week, we were discussing about blockchain on the forum and a particular member comment with a total different view and even explained how satoshi started it and what it's originally made for.  I was so touched that I had to go download materials and read extensively.  That's how knowledge is gained

Helo,


I am not a expert but i can only share my experience wuth you that can be help you.
First time when i join cryptocurrency i can't understand what is the CRYPTOCURRENCY and TOKENS and COINS .

BUT after long time i understand the All cryptocurrency and All types of coin like ERC20 AND TRC20 ETC...


my only suggestion is don't quit cryptocurrency just learn about crypto..  in one time you become a expert 👍

See video on cryptocurrency on YouTube and read Articles in Google About cryptocurrency 👍

Just read all my posts, start with the first ones, you'll find answers to some of your questions.
Combine your questions per topic and open dedicated threads to get help, people here are "paid" for answering so posting is welcomed

Sapnu you said  " keep on exploring the forum but be careful with the information, not all are reliable and valid here."

This is so true, and also the more I explore for answers the more confused I am many times. Some info is flat out contradictory.

Can you tell me where to ask questions to basic questions? Like can I put my BTC in my ledger wallet without the private keys?

I am trying to do all recommendations and I see "if you don't have the keys, you don't own the bitcoin"

Also don't keep your BTC on exchanges.

I'm not sure how to get the private keys from exchanges (even read coinbase will not give them out) but now having the keys seems less important than getting my BTC off the exchanges.

I have BTC on 4 exchanges so can I put just one of the addresses in my ledger wallet and send all of it from each exchange to that one address?

     Or do I have to put addresses from all 4 exchanges in the wallet and then make sure I send the BTC from each exchange to the correct corresponding address? I guess that makes more sense because I am assuming I would need to send it back to the correct exchange if I want to cash out or trade.
Not sure how to do that yet but I just have to learn as I go and worry about that when I get that far!

Biggest issue Where can I ask questions and get a clear concise unconfusing and non-contradictory answer?

Thanks

Learning.

Learning is one of the most difficult task for an adult or a teenager. As a young person growing up, learning could be fun but as an adult or a teenager, the need to earn becomes the most important thing on your mind and as such, having the will to pursue a course that doesn't offer immediate benefit in currency becomes a very hard thing to do.
Unfortunately for people of this mindset, learning is the core values of this forum which makes it a daring one for beginners. But then, should you pick up the task and learn, you would always find it rewarding in the end.

In my opinion, I think one of the most common mistake of a newbie is not making sure that they are able to comprehend the things that they need to learn about crypto. Like for example, here in the forum, when a question comes in their mind, they will start finding an accurate thread but then they will just scan it and wouldn't bother to read it at all. Another thing is not asking question and doing things on their own which sooner or later leads to massive loss or failure. You are free to ask here in the forum, you can find the answers to your questions too, just keep on exploring the forum but be careful with the information, not all are reliable and valid here.

1 YEAR AGO I STARTING EARNING WITH AIRDROP AFTER SOME DAYS I'M INVESTING ON ALT COINS THAT GIVE ME BIG LOSS MY ALL EARNED MONEY GETTING HUGE LOSS THAT'S WHY I QUIT TRADING ON ALT COINS AND FOMO IS BIGGEST THINGS TO ATTRACT BEGINNERS SO FIRST DO YOUR OWN SEARCH AND INVEST CAREFULLY NOT EVERYONE RICH WITH CRYPTO IF YOU'RE ALON THEN FIRST MAKE TRUSTED FRIEND BECOUSE WORLD'S MOST EXPENSIVE THINGS IN A WORLD IS TRUST CHEAP PEOPLE CAN'T AFFORD SORRY FOR BAD ENGLISH

When I first started with crypto I had alot of issues
But the most of them was the learning aspects. I wasn't really that open to crypto
And that time I got into a lot of scam projects and it was tiring almost gave up
Till I found out about the forum and since then am learning new things day by day