Topic: What should new cryptocurrency users do first?🙏🙏🙏 - page 3. (Read 404 times)

That’s right, a lot of people just come into cryptocurrency without having any knowledge about cryptocurrency, some of them actually joins crypto because of the stories they hear about people making money from cryptocurrency, they just think they can also earn from it by just investing without carrying out research or knowing anything about it.

Firstly, a person new to cryptocurrency should understand the risks associated with it and that it is not a get rich quick scheme because that is what new investors think of cryptocurrency. Due to the volatile nature of cryptocurrencies profit is not always certain and it has a 50/50 chance of either profit or loss. To be successful in crypto one needs to understand it to some extent and be able to apply those knowledge in order to be successful. People new to cryptocurrency should first and foremost seek for knowledge before investing any amount in crypto and also they should only invest an amount they they can afford to lose.

How to protect their wallets and assets against frauds should also be taken into account, as this is one of the biggest risks that novices in the cryptocurrency space face in their early days. There are several threads on this forum discussing how to protect ourselves from scam attacks; if you browse around, you can find some useful information.


This happens a lot but sometimes learning the hard way is the best way to learn. No one in their right senses will indulge in anything without having knowledge about it so investing without knowledge and losing their money will teach them a lot, it will teach them not to rush into things they are not knowledgeable about. I will cost them nothing to ask experts for guidance on the basic concepts of cryptocurrency and how to embark on their crypto journey.

If you get confused about other altcoins to trade why not focus to trade bitcoin or the top 10 alts in the market? For sure you can learn a lot of things from trading it frequently. Also don't use all the funds on hand especially if you are learning on how to trade since usually we encounter some losses with that.

Also aside from trying out those suggestion posted by other user above try to visit the trading discussion section and also altcoin discussion section since you can learn something base on the discussion posted by several users in this forum.

It maybe hard for newbie to not encounter any lose since at first you need to deal with it but you can minimize the damage made by mistakes done by doing all those research suggested by forum users. But also try to learn some information about scams on scam accusation section since it could also help you to get save by possible scam attempts made by some vicious developers.

They join cryptocurrency market to have it, own it and to get profit from their cryptocurrencies.

Before they can get profit, they must not lose their cryptocurrencies. The first things they have to do is learning about basics like
Cryptocurrency security check list
Cryptocurrency scam book
Choose your wallet and secure it.
How to back up a seed phrase? It is important for back up of wallet and wallet recovery.
Are your passwords in the green? and [GUIDE] How to Create a Strong/Secure Password can help them to use strong passwords for their wallets, exchange accounts.

Important to know a reminder: do not keep your money in online accounts.

Absolutely, without understanding the basic and fundamental use it's so risky to start cryptocurrency . Newbies should learn different things about crypto before diving into it.

The most important thing which i will recommend to learn first is Basic Concepts of crypto currency. Newbies should learn about blockchain, decentralization, and cryptocurrency function. second I will recommend to learn about crypto wallet security, private keys/paraphrase and all tool which will safe the wallet.

Besides these two major and fundamental thing it will be better to learn how to pick a good project by knowing the usecase of projects, risk management .

Certainly I'm no expert, but let me share my journey. Back in 2017, I heard about Bitcoin and started digging for info. I began by understanding the basics of Bitcoin, then naturally followed the current. That's when I realized Bitcoin was just one piece in the world of cryptocurrencies. It led me to altcoins, and as time went on, new things like NFTs and DeFi emerged. I just kept following the developments. I believe many folks, like me, kickstarted their crypto journey with Bitcoin. It was the buzzword back then, and from there, it's been a journey of continuous learning and adapting to the evolving crypto landscape.

Know what you are investing in, what the use case is, and how secured it is, not just some random project with a fake promise.
Have a reason for investing, and then you need to learn the best way to protect your coins and where and where not to leave them for a long time.

I want to know to all you big cryptocurrency users if someone who is new to cryptocurrency wants to learn about cryptocurrency then what should he know first, the reason for saying this is because many new crypto currency users come to cryptocurrency and don't know anything.  By investing in cryptocurrency without understanding, they are losing all their property, so if you who are experts would say that before investing in cryptocurrency, you should know what things you should invest ?  Then the new crypto currency users would have benefited a lot, they would not have faced any losses as newcomers