What Problems do new investors face when researching cryptocurrencies? - page 2.

audaciousbeing

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Quote from: Pricelessent on March 05, 2018, 03:02:02 AM

We all know there is a wealth of information on the internet about cryptocurrencies, but how much of it is actually helpful? How can you trust the person you are receiving information from? And is all the spread of FUD making you even rethink any of your investments?

In order to help new crypto investors, we need to come together to create a place for them to trust the information they are reading and the people they are getting it from.

If you selected, “Other” in the poll, please reply with whatever else you think new investors face when researching and then finally investing in crypto.

Thank you

In addition to all of those problems you listed investors faced, the most important one is finding the truth because a well perfect scam plan is always designed in detail to check out and the stress of finding that is always killing. I took interest in a particular project at some time, and every names provided I traced to LinkedIn, Facebook and even websites where the people are mentioned in short, everything checked out and because I am an average user of the internet, I couldn't make a conclusive statement because despite all of this something tells me the project is an unserious one and it turn out to be so.

Pricelessent

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We need higher quality platforms of information that can connect users with people they can verify and trust.

AngelSky

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Quote from: tweetbit on March 06, 2018, 10:15:35 PM

There is a bunch of information in or out of this forum that is untrue and just FUD that is coming from a strangers who will benefit if someone be victimized. So don’t rely much on other people, go with your instinct and gather more information on a legit platform or at the ICO website you’ve wanted to invest in. Laziness of one investors either new or old is the common reason of lose.

Nope most of the untrue information are shared by the group of people making negative rumours about the bitcoin and other crypto currencies. DT members, moderators and staff members are actual contributors to this forum.
If any newbie want to learn some thing from the forum pinned message of the moderators and follow the positive information is only the healthy for the forum and crypto market as well.

Pricelessent

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Quote from: rockie87 on March 07, 2018, 01:08:47 AM

The most common problem that i have heard and faced personally is lack of knowledge and just blind faith that crypto will make me overnight rich person.Most of people invest in crypto by seeing there near ones making good profit in it.They don't even make a genuine effort to learn what it is and how i can make it.People in my country invest in crypto by giving there money to some other guy who knows something about this.And when they loose money,they try to show this trading fraud rather than accepting there mistakes.Soo people who wants to trade,first learn what you are trading.

Thank you for your input. What country are you from?

rockie87

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ICOForums.net - A Cryptocurrency & ICO Forum

The most common problem that i have heard and faced personally is lack of knowledge and just blind faith that crypto will make me overnight rich person.Most of people invest in crypto by seeing there near ones making good profit in it.They don't even make a genuine effort to learn what it is and how i can make it.People in my country invest in crypto by giving there money to some other guy who knows something about this.And when they loose money,they try to show this trading fraud rather than accepting there mistakes.Soo people who wants to trade,first learn what you are trading.

bitcoinisbest

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Quote from: tweetbit on March 06, 2018, 10:15:35 PM

There is a bunch of information in or out of this forum that is untrue and just FUD that is coming from a strangers who will benefit if someone be victimized. So don’t rely much on other people, go with your instinct and gather more information on a legit platform or at the ICO website you’ve wanted to invest in. Laziness of one investors either new or old is the common reason of lose.

For many people their research is just only to ask few people and based on their say they make up their mind rather than them self reading about he project , reading whitelist and doing a deeper search and questioning the team of need be and than finally if convinced should be invested.

tweetbit

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There is a bunch of information in or out of this forum that is untrue and just FUD that is coming from a strangers who will benefit if someone be victimized. So don’t rely much on other people, go with your instinct and gather more information on a legit platform or at the ICO website you’ve wanted to invest in. Laziness of one investors either new or old is the common reason of lose.

Pricelessent

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Quote from: pawanjain on March 06, 2018, 01:42:18 PM

People nowadays don't think much before they invest in any cryptocurrency. Just for the sake of getting profits, they right away invest in any cryptocurrency they are recommended into. They dont do their research properly before investing and then end up in a loss. Much of these are because of the misconception that investment in crypto will make them rich quickly which is purely false.
They dont seek advise from trusted people and start falling in FUDs . I believe people should take time and research on a project before investing in it.

You should definitely know every scrap of DNA within the company if you are going to invest your hard earned money into it, but can you blame new investors wanting to get in solely for the profits? When they hear about coins going x100 it sparks something within them to join in, causing the FOMO.

My question really is how can we help them spend the time more efficiently in researching and actually getting advice from accredited investors instead of total strangers with no equity in a coin.

pawanjain

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Nothing lasts forever

People nowadays don't think much before they invest in any cryptocurrency. Just for the sake of getting profits, they right away invest in any cryptocurrency they are recommended into. They dont do their research properly before investing and then end up in a loss. Much of these are because of the misconception that investment in crypto will make them rich quickly which is purely false.
They dont seek advise from trusted people and start falling in FUDs . I believe people should take time and research on a project before investing in it.

Koro-Sensei

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Quote from: Pricelessent on March 05, 2018, 03:02:02 AM

We all know there is a wealth of information on the internet about cryptocurrencies, but how much of it is actually helpful? How can you trust the person you are receiving information from? And is all the spread of FUD making you even rethink any of your investments?

In order to help new crypto investors, we need to come together to create a place for them to trust the information they are reading and the people they are getting it from.

If you selected, “Other” in the poll, please reply with whatever else you think new investors face when researching and then finally investing in crypto.

Thank you

Well we couldn't realize the better and scam right away from all those list of recommendations in the internet. They could be dealing with potential dealers or scammers. The only thing that only stand is the top coin that has been working for ages and still being used even as of now. It takes a lot of effort to identify what's which.

SHAWN-MIDWAYS

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Quote from: Pricelessent on March 05, 2018, 03:02:02 AM

We all know there is a wealth of information on the internet about cryptocurrencies, but how much of it is actually helpful? How can you trust the person you are receiving information from?

As far as I know the information thats available on the internet is there to guide us and help us do more research about related projects, I dont think its an issue of trusting a stranger...if it is thats where due deligence needs to be applied.

Quote

And is all the spread of FUD making you even rethink any of your investments?

FUD just like Fake news needs one to authenticate the sources, you cant believe everything you read online thats why i believe we have the responsibility to do more research in whichever crypto project we want to invest in.

Pricelessent

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Quote from: krishnapramod on March 06, 2018, 12:58:57 AM

I think it's too much unorganized information or misinformation. Last year more than 900 ICOs were launched and 46% of them already have failed, marketing through different announcement sites, social media, press releases, and referral spam. A good percentage of new investors enter the crypto market on hype/FOMO, looking to buy the next Bitcoin on discount and with so much information being spread out about different ICOs, rather than taking a time-consuming approach to do a proper research, most new investors tend to quickly grasp any information that fuels their FOMO psychology, just taking investment advice from strangers.

I agree it needs to be more organized. How about a platform that separates the content from each cryptocurrency based on the ones you subscribed to.

krishnapramod

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I think it's too much unorganized information or misinformation. Last year more than 900 ICOs were launched and 46% of them already have failed, marketing through different announcement sites, social media, press releases, and referral spam. A good percentage of new investors enter the crypto market on hype/FOMO, looking to buy the next Bitcoin on discount and with so much information being spread out about different ICOs, rather than taking a time-consuming approach to do a proper research, most new investors tend to quickly grasp any information that fuels their FOMO psychology, just taking investment advice from strangers.

Pricelessent

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Quote from: pinkflower on March 05, 2018, 11:32:15 PM

One of the biggest problems is theres too much junk information anout cryptocurrencies floating around the internet, and it downs out the authentic information.

Go to the altcoin subforum and see what I mean. 90% of threads created there for the last 6 months are junk.

Yes, there should be a way to eliminate spam.

pinkflower

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One of the biggest problems is theres too much junk information anout cryptocurrencies floating around the internet, and it downs out the authentic information.

Go to the altcoin subforum and see what I mean. 90% of threads created there for the last 6 months are junk.

Pricelessent

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Quote from: mobnepal on March 05, 2018, 10:24:58 PM

There are actually lots of ICO popping up everyday and also there are many tokens which has already gone through ICO but finding it hard to get real pump after listing.

Management of both of these tokens will try to spread hype over their token through paid media or by convincing few influential speaker. And newbie investor tries to follow that hype and start to loss both his/her investment and trust over crypto investment. There are no any media outlets that post true information around crypto specially about ICO. All ICO review sites do paid review and information sources are not properly organized.

Great point, who is really promoting the coins because they believe in the product and not just doing it to pump and dump. We need to come together and find communities that HODL the same coins as each other and eliminate spam of FUD. A social network with a reputation score to build social trust will help.

mobnepal

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There are actually lots of ICO popping up everyday and also there are many tokens which has already gone through ICO but finding it hard to get real pump after listing.

Management of both of these tokens will try to spread hype over their token through paid media or by convincing few influential speaker. And newbie investor tries to follow that hype and start to loss both his/her investment and trust over crypto investment. There are no any media outlets that post true information around crypto specially about ICO. All ICO review sites do paid review and information sources are not properly organized.

Pricelessent

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Quote from: rey.fudz15 on March 05, 2018, 07:34:45 PM

My choice will go to confusing/unhelpful information and other ( lack of information of the past prices).
that confusing/unhelpful information has been explained by some here so i'd like to take the chance to explain why lack of information regarding past prices becomes a problem for new investors.
usually there are people that rides the bandwagon hype and if a close friend of them telling that "this is a good investment" they usually buy it without even researching, i know some people personally bought a lot of coins during ATHs so they are holding their coins very hard now since the market has been far from ATH.

This is true, but do you think that can be attributed to taking advice from the wrong person? Because the market is so volatile it will go up and down easily.

So if you got advice from someone that SHOWED you they had a diversified portfolio, with up to date earnings, you could make a better decision?

rey.fudz15

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My choice will go to confusing/unhelpful information and other ( lack of information of the past prices).
that confusing/unhelpful information has been explained by some here so i'd like to take the chance to explain why lack of information regarding past prices becomes a problem for new investors.
usually there are people that rides the bandwagon hype and if a close friend of them telling that "this is a good investment" they usually buy it without even researching, i know some people personally bought a lot of coins during ATHs so they are holding their coins very hard now since the market has been far from ATH.

Pricelessent

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Quote from: Aikidoka on March 05, 2018, 06:02:33 PM

I do believe that if you sit down and have your full time researching about the cryptocurrency you want to invest in and with a help of many experts, articles (even though you should not fully trust them), you will manage to come up with a good decision in the end.

Investing in a new cryptocurrency is risky and you might feel unlucky eventually. Therefore, I think that the other problem of investors is trying to come up with a decision on whether to invest or not.

Yes you can come to a conclusion after persistent research, but there are just so many to look at! And what if there was a place you can fully trust the information you are receiving. A more organized social network for crypto investors. But at the same time not like these copytrade platforms with wallets built in, but a positive community (like bitcointalk of course) where you can check the portfolio and credentials of someone before taking their advice.

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