Topic: Why knowledge alone is not enough in crypto. - page 3. (Read 329 times)

Now, I wanna explain why I think knowledge about crypto is actually pretty important.  Especially if you are thinking about trading versus just buying and holding.  Cause those are two totally different ballgames in my opinion.  If you wanna trade and try to score those big wins, you need time to put down in addition to just knowing the basics and  the more time you invest, the more potential profit.  Whereas if you simply wanna buy some Bitcoin and hold it long-term you dont need as much time upfront.  But either way, doing research and trying to wrap your head around how cryptocurrencies work is super valuable.  Theres a lot more to it than most people realize at first glance.  The technology behind it all can get pretty complicated quick.  But the key things to understand are, like, the role of blockchain how coins differ from tokens, the influence of hype and public opinion, stuff like that.  If you take time to learn about all aspects instead of jumping in blindly, youll make much smarter moves in the crypto trading.  Or at least avoid some rookie mistakes.

You gave good advice, but you need to be informed also, because it is not everyone that has the valuable thing to sell to get quick money for emergencies, like you mentioned selling sheep, goats, and even farm produce. But still you need money to buy those things and keep or get them from inheritance, so this advice is not applicable to others; it is just for a few that already have those valuable items.

Furthermore, a signature campaign cannot make you rich if you don’t have another source of income that will be able to cover your needs because the bitcoin gotten from the signature campaign cannot be kept or hold when you know you don’t have any source to feed from, which also depends on the country you live in due to the rate to your county currency.

So when giving advice, try to do some research and bring out other passive or even active income plans that newbies or even others can delve into so that they will get more income to support their knowledge in crypto and also allow them to invest what they can afford to lose.

knowledge is actually a relatable thing if you ask me especially when it comes to broad and technical things like crypto. Now let's weigh two possible scenarios one of someone intending to hodl and another of someone intending to trade crypto. Now for trading, huge wins is actually directly related to capital meaning to be successful in trading aside knowledge you need capital.

But the thing is with a nice level of knowledge you can create your capital from basically nothing. For the aspect of Hodling you can still make a decent profit as a HODLER without having to pump in a ton of cash suddenly. The fact is simply they go hand in hand but knowledge can't be underestimated.

The two should complement each other between 'knowledge and action' is better where you already have the knowledge while taking action slowly if for example it is in trading or whatever it is.

So I used to be like that... where I started learning crypto while practicing what was needed... over time it became commonplace and knew what to do so knowledge alone is not enough.

It takes courage and takes risks in crypto.

Crypto is not a job and should be seen as an investment which if you don't have a means of income, you cannot invest. It's just like you saying people want to buy gold and pile up for their future without a job.

This is why you need to build up a backup funds called an emergency funds to take care of any unforeseen emergency that will arise when you are investing in bitcoin. Without an emergency funds, it's like gambling, because you will sell your bitcoin when an emergency arises.

Only invest with an amount of money that you can afford to lose, so that if bitcoin price goes opposite you, you don't end up losing it all. No investment is risk free.

As they say, knowledge without action is a waste and taking action without knowledge can lead you into trouble.
So both are required if you want to move in a positive direction, lacking one of them will cause you no good.
If you are a newbie, you need to gain knowledge first and then try to take action one step at a time.

Education and knowledge are all things you must have to start. If you are not a gambler and want to bet your money, and life, you must be educated, learn for knowledge before spending your money for anything like investment or trading.

Without knowledge, anything you do is like gambling and risk is very high.

Knowledge is very powerful, if you get it right and correctly as misinformation, misleading knowledge are very harmful for your journey.

Knowledge, practice, experience and discipline will help you getting success.

Knowledge applied is enough.

Many times what we hear is for us to do our own research. Do not trust blindly. In doing our own research, we acquire knowledge. It is this knowledge that we acquire that we use to vet, verify new and old information that we come across.

Knowledge applied is enough. In getting knowledge, we get smart, we become aware and we are able to articulate our thoughts and actions in the cryptocurrency industry.

No knowledge is a waste. How useful and resourceful knowledge can be to you is based on how you treat it. Aside from earning through buying and holding bitcoin and other crypto, some people have full-time jobs working based on the experience and idea they have in crypto; it pays their bills fully by working with big crypto firms.

Even if you grow your account and join a signature campaign, that can't make you rich. Well, it depends on the country you are from; the earnings can help foot some of your daily life expenses, and maybe you save up and leave an average life. Your skill and dedication can bring you life-changing opportunities that can transform you into something useful.

Greetings my fellow Bitcointalk members and happy Sunday to you all, I brought this topic to advice newbies not to depend alone on crypto knowledge, because there are some people that have the knowledge of crypto but they are still struggle to earn income from crypto, I'm not against the knowledge of crypto, but try to have funds or source of income along side with the crypto knowledge, so that it will be easy for you to grow incomes that will change your life positively in your environment, because the reason why some people are going into a particular forum to achieve knowledge is for them to become great in real life, look for a good job or have something doing that will will be helping you to get some funds you can use to buy crypto if you wish and hold for long term, because that is what will allow the knowledge to generate wealth
  
  Reason why you shouldn't depend alone on crypto knowledge
                                                                  
                                  
1 Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

2In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

3In case you lose your seeds phrase or you fall victim to scammers, it will not be the end of your life, we don't pray for bad thing to happen to us, but sometimes we do some mistakes that will make us to fall victim to those things in real life, but if you have other investments, it will make the person not to lose hope in life. Do you think those advices are good for newbies to embrace?