Topic: What should new cryptocurrency users do first?🙏🙏🙏 - page 2. (Read 404 times)

Because cryptocurrency now has many kinds and among the many cryptocurrency at this time there is certainly a good cryptocurrency for everyone including for beginners who have just wanted to start their investment. Beginners only need to use a little time to read about Bitcoin and also must have the intention to get bitcoin with the ability that exists in itself in order to be used as an investment in the future.

Because in general Bitcoin is no doubt by many people so that beginners will not be wrong if they immediately put their desire to Bitcoin even though with the condition that they have to learn it first because investment does not have to have more expertise like traders in the market that must always apply many things to benefit.

and immediately practice it otherwise it's just theory. If there are new problems, look for posts that discuss your problem and if you can't find them, create and ask your question here. I'm sure there will be lots of constructive and helpful suggestions and opinions so that you can reach a common ground.

There are a lot of things to learn as a newbie when you come new into the crypto space but when you don’t ask any questions or guide, you’ll always be lost. One important things is to know how the crypto space works, know the advantages and disadvantages. What I see most important to first learn as a new comer is the part of security and privacy of your money, they can them learn more about coins that are worthy of investment into, not all of them are valuable or worth spending a penny on. If you made a very wrong step, it can affect all of your investments and love for crypto.

First thing that should interest a new person who invest in bitcoin is a way to keep their investment safe, because as newbies they are target to criminals who do not want to buy bitcoins by themselves but are looking for the people's own to steal. A newbie is to be concerned with security first, they should find out the best place to buy and then the best wallet to store the bitcoins when they get it. There are many fake places online where they pose to be vendors of bitcoins but are not real, but only there to collect people's money, and there are also wallets that should not be used.

In order to achieve success in the bitcoin sector, one needs to set out on a path of constant education and slow information development. Success in this industry doesn't happen overnight; rather, it develops gradually as one explores different facets of cryptocurrencies.

For beginners entering the world of cryptocurrencies, it's crucial to understand the associated risks. Imagine it as stepping into a new adventure you wouldn't rush without understanding the terrain. Starting with this awareness, one can then venture into different realms of cryptocurrency education.

Acquiring financial security is similar to realizing how important it is to safeguard valuables. Understanding ideas like private keys the coded secrets used to open and safeguard digital assets is necessary for this. Examining the distinctions between centralized and decentralized exchanges is similar to traveling via several routes, each with unique benefits and difficulties.

It is crucial to understand the difference between legitimate projects and scams in the cryptocurrency space in order to steer clear of any hazards. Consider it as learning to distinguish between genuine treasures and false wealth. This information protects against possible losses, which are a common mistake made by people who only follow the advise of others.

Personal research is the key to success in the cryptocurrency space. See it as a thrilling adventure where you learn things and come to wise judgments. Even subject matter specialists agree that everyone makes mistakes and that perfection is an impossible goal. Consequently, taking on the role of independent researcher guarantees a strong basis for success in the constantly changing bitcoin market.

I will say first get educated and that's the only key because with education you will be able to know what cryptocurrencies are and how they work and what tokens you should choose to make trade to make a good profit. You want to do speculating or hedging. I learnt these terms recently but they meant a lot. Let me teach you what they are. Speculating means you do not perform any type of analysis or in other words, you are totally uneducated and making trades maybe based on luck you will be able to get some profit.
Second is hedging where you do proper analysis and you are called an educated one and you make consistent profit not based on luck only. I prefer you to become a hedger first then you will be a better trader. And if you will ask how to become a hedger? my answer will remain the same.

Getting an education first means trying to learn the basics of trading investing and how can you achieve your goal. By getting an education first you will be totally independent of other shit sellers who will try to lure you to buy their vip groups and will ask you to join them and by following them you will become totally dependent on them.

Learn the basics/fundamentals and the reason on why you invested.

Did you invest because of the hype? Is it because of FOMO from your peers; or is it because you just heard it from a random stranger on the internet saying that it is a good investment? From these questions, know on what you invested and on why you invested.

After knowing cryptocurrencies and its uses, then comes the difficult part- which is investing and forecasting its price in the future. Due to its high volatility, its price may increase/decrease every second depending on various circumstances and factors.

At the end of the day, just enjoy the journey and the ride. Expect heartbreaks and celebrations as these are all part of investing in cryptocurrencies.

One of the things you need to know as a newbie in the Crypto space is for you to understand how things work in the Crypto space.
There are a lot of things for you to learn in the crypto market which will help you to stay strongee and prevent you from falling victim to many wrong crypto projects that do not have a better team to promote it and send it to the moon..

are you asking the question for yourself or for new persons that are into the crypto space?

If it's not for you then you should just tell them how your journey went as a beginner and the things you learnt that help you become stable as a crypto person.

I guess if the person is in this forum, their are lots of information he can get from the so many thread that have already been created here. Another way to get answers to this kind of question is just to search out using google search engine and when the result comes out you can now start doing particular research on the individual topics and concept you need to get familiar with as a beginner.

As an early adopter, the main goal of getting into crypto is of course wanting to know more about crypto and being able to benefit from crypto. But try not to think about profits first, what you have to know first is how this cryptocurrency works and you have to know what the terms are. I think that's a basic thing you need to know. To be able to make a profit, you need to learn how to trade and what knowledge is needed. Make sure you learn the basics first before putting money into crypto

Understanding crypto is not a rocket science if you follow proper learning and right information because you can seek for right information and get the wrong one and this can lead to wrong orientation of understanding crypto and with wrong information, you will most likely lose something in the end which is usually your crypto that you have sacrificed money to buy, you don't want to see one day that your hard earned investment has wash down the drainage, so here are what I think you should learn.

Learn to differentiate between a custodial platforms and non-custodial platforms; hint: custodial platforms means you are the only person that has access to the private keys and the seed phrase as the case maybe, while non-custodial platforms are control by a middle person or third party as they called them. The problem with this platforms is that, there is 100% risk of losing your funds is anything happens later.

Learn to differentiate between centralized exchanges and decentralized exchanges, this will help you a lot and also avoid exchanges that are non-custodial in nature because you can't hold the private keys or seed phrase to your coins.

Learn to understand hardware wallet, software wallet and airgap device to store and manage your coins, each has its own advantage but hardware wallet and airgap device offer more conveniency and top notch security.

What you need to understand first as beginner in cryptocurrency,  you have to understand cryptocurrency can't make you to become rich and you have to understand the market that it is very volatile and if you are investing you don't have to put all your mind in your investment that you can make profit from your investment in a specific time. You don't need to invest all your savings in cryptocurrency but only the amount you can afford to lose.

If you want to invest in cryptocurrency do not rate every coin as the same, every coin coin differs in value and quality. For me any beginner that wants to start cryptocurrency I'll always advice to start up with bitcoin because is the most reputable coin for investment and the most valuable in the market.

To begin with, I'll say nobody here is a cryptocurrency expert so there's no professional advice that you'll hear here although you'll get some experience respond as we have a big number of experience investors among us. All newbies should first understand that this industry isn't a quick rich industry and cryptocurrency are just currency so we should put that in mind when we're investing into them. The next advice would be to focus more on Bitcoin as that's the coin that controls the whole market and it's trusted and verified to be scam proof (you won't be scammed by the developers when investing in Bitcoin).

Anybody that invest into sometimes they don't understand is putting their money at least and deserve whatever they get in return because they aren't respecting money. First understand money and then understand cryptocurrency before you start investing, doing this will help you to make good decisions like accumulating Bitcoin instead of buying tokens that'll be worthless after the incoming bull market. How to secure your Bitcoin or cryptocurrency in general is very vital lesson you should learn too as alot of money is been lost yearly to scammers and hackers. protecting your investments very well will determine how successful you'll get in the space.

To conclude, I'll advice you should have patience when investing in Bitcoin because those who hodl make the largest profits. Altcoins can be traded but you're taking a risk not worth it hodling them.

Before you do anything or invest in cryptocurrency, you should learn everything there is to know about it. Many people lose money because they don't know enough about it, and in crypto, you should know everything there is to know before you start investing or trading. Investing is better than trading because trading is very high risk, and if you don't have a mind, you can't do it. So it is better you make your bitcoin investment now that you will profit even if you lose because the price of bitcoin will climb at any point and now that it is progressively increasing.

If you haven't started investing in bitcoin yet, it's a good idea to do so before the bullrun. Anyone who invests in bitcoin knows that there will be times when the market doesn't go well and you'll lose your money, this isn't  mean because you're new to crypto that why you lose it's just that understanding it thoroughly will help you minimize your losses. because any investment you are doing they get some actually time that the market will misbehave and lose fund.

Being a newbie, there are many things that are expected of you to first get yourself acquainted with, the knowledge about bitcoin and the understanding of bitcoin being the only reliable, most profitable digital currency that is less with risk, while every other cryptocurrencies are altcoins, you need to know about bitcoin wallets, the security practice, the difference between centralized exchanges and decentralized exchanges, custodial wallet and non custodial wallets, you can as well to through other vital links already provided above, make use of the forum search engine and lastly be active and learn from the forum here and the internet by making comparison.

Bitcoin dominates the market and it is shown with Bitcoin dominance
Altcoins are risky, scam and more vulnerable to die.
How many cryptocurrencies failed? This question is for altcoins, not for Bitcoin because Bitcoin does not fail.

Stick with Bitcoin like institutional investors will use their capital wisely by invest in Bitcoin first. They will not pick shit coins with their big capital because it is hard for them to enter and exit but a more important reason is they see bigger risk with shit coins and feel safe with Bitcoin.

Stick to investing in Bitcoin first and study before you progress to other areas of Cryptocurrency.  This is it.

It is very tempting to start pouring money into what looks to be successful.  But for most of the regular people it leads to big mistakes, pouring a lot of money into bad Cryptocurrencies and at the end of the day losing a lot of money.  I strongly suggest you only stick to Bitcoin first unless you want to be another victim of stupid scams or schemes.

I am not an expert in bitcoin nor any other cryptocurrency. But I think everyone would agree that before doing an investing or getting yourself involved with crypto you must study the basic fundamentals first. There can be many things to know, many questions, many answers and many confusions. So in order to get the most of it you can use bitcointalk forum. It's a hub for crypto enthusiastic people. You cannot just come to crypto and start investing. That's not possible. First learn things like, how crypto are stored, what is a wallet, what is seed phrase/secret keys, what is a blockchain, What is multichain, how does a transaction work, what is gas fee, centralized and decentralized exchanges etc.

Every beginner must know and learn how to generate the private key correctly, that it be random enough and that no one can know the private key unless it is by reading the seed or that the seed is connected to a device connected to the Internet. Only then can you say that your money is safe and you can Consider buying Bitcoin, enhance your privacy and learn to trade.

All those who think that cryptocurrencies are a way to earn something or even become millionaires should know that this is just a myth spread by those who invent various coins/tokens and need people who will invest in their ideas so that they can profit as much as possible. Projects without purpose and meaning, regardless of the fact that they promise everything you can imagine, should be avoided at all costs.

Of course, there are always exceptions, but you should remember that these are only exceptions, and also that research has shown that 95% of people who trade with cryptocurrencies end up with only losses, so you should ask yourself if you have a chance to be among those 5%?

In any case, all those who want to invest in cryptocurrencies should first of all invest their time in acquiring as much knowledge and gathering information as possible. Such decisions should not be made overnight or based on what a friend or acquaintance told you, especially if someone convinces you of something that at first glance looks too good to be true.

When it comes to money and earnings, even those you consider reliable and good people can change a lot, because money changes people very often for the worse.