The most important advice is to invest only free funds.
There were a lot of cases when people lost huge sums due to lack of knowledge!
Topic: What is the one thing a newbie should avoid? - page 2. (Read 248 times)
One? Here are six.
- Don't invest in anything that you don't understand well.
- Don't invest in something just because somebody says to.
- Invest for the long term.
- 90% of ICOs are outright scams and a legitimate ICO has no more than a 10% chance of succeeding.
- Assess risk appropriately. A concept is a long way from a working demo, which in turn is a long way from a finished product.
- Technical analysis is financial astrology.
Just invest as much money as you are willing to lose. If you are going to trade you will lose a lot of money at the beginning, so don't invest money you can't afford to use!
Is there anything any newbie should avoid doing when it comes to investing in bitcoin or the digital currency in general? Especially for those who dont know much about cryptocurrency yet, what advice can you give that a newbie must avoid at all cost?
Do not invest money you are afraid of losing! The first few times you can lose all your investment so do not invest in only one cryptocurrency. Divide your investment into several promising cryptocurrencies.
Avoid day trading ^^ better invest on a long term period when you began , its safer and better for your mind ^^
First Avoid making final decisions especially when buying coins. No one can say one fact as most important since this is a big industry & you should know surrounding very well before investing in this field. I believe that this is fair for any industry for a beginner. In fact if you are not a fast learner opportunists can be missed. In that case first you should LEARN then leave L & start to EARN. Use this forum, Youtube & crypto space very well. Once you are packed with some theories stick in to your method. Don't be "emotional" & break the method. That is one you should importantly avoid. Many more to mention but you need to put your effort to LEARN. Be the one to learn.
In general: Don't go balls-deep in to something that you don't understand. Interested in investing in cryptocurrencies but have no idea on how to have a secure wallet? Then read first. Looking for a good coin/token to invest in? Do your own research; don't just invest in coin X just because some dude on a forum thread or a reddit post told you so. First time investing? Don't want to be drowned in debts? Don't invest a big percentage of your money in to crypto. Always take risk in to consideration.
Is there anything any newbie should avoid doing when it comes to investing in bitcoin or the digital currency in general? Especially for those who dont know much about cryptocurrency yet, what advice can you give that a newbie must avoid at all cost?
Avoid such type of thread in meta section....
First of all, visit this forum, study all factors, risks. Understand that it is necessary for him. As well advice to you, sometimes in the section of beginners to go further than the first page, such and similar questions have already been asked many times.
Is there anything any newbie should avoid doing when it comes to investing in bitcoin or the digital currency in general? Especially for those who dont know much about cryptocurrency yet, what advice can you give that a newbie must avoid at all cost?
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