For starters, It will be more safe to invest only to Bitcoin before you will touch other altcoins for more profit opportunity. Make sure that you understand well all the basic principles of Bitcoin and Blockchain because it will help you once you explore other blockchain project.
Stay away on ICO or other startup during bear season like now since most project that starts at this market conditions will surely fail because there’s no profit on crypto right now due to the decreasing value of the marketcap. There’s a current rally but tahat doesn’t mean we are already on the bullrun because we are still on the initial phase of the current cycle.
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Topic: Your best advice/recommendations for a crypto beginner (Read 281 times)
What is your recommendation for a beginner?
the best recommendations for beginners in long-term investing in Bitcoin. may run into trouble when market prices start to fluctuate. but when you understand more about how the crypto market works, it won't be a problem.
trading is also too risky for beginners. maybe spot trading within 1-2 weeks will be enough training knowledge and experience in the market. don't start with futures trading. it could make beginners fall in their first steps in getting to know the crypto market.
Learning is a must for crypto beginners. If you want to get started investing before digesting all the information you need to know, start with bitcoin first. Before putting money, learn the fundamentals and technicals of trading if you want to trade. Mining is technical, but it is worth it if you live in an area where electricity costs are low. ICO should not be attempted by a novice unless you already have sufficient knowledge of crypto. In the past, thousands of ICO have failed and have not even been listed on exchanges. It is an extremely risky investment strategy.
What is your recommendation for a beginner?
Most investment mistakes and losses occur when investing without proper guidance and analysis about investment risk and return percentage, my advice is for beginners before investing, research yourself after that you ask the right people. Investing in Ico is too risky if you are still a beginner, my advice is not to invest in Ico first.now that there are lots of cryptocurrencies spread globally, I will recommend the best Crypto Coins that you can choose to become investment assets that are in the top 10 coinmarketcap.
As pathetically said, it is a Herculean task. If you have money that, judging by the question, you want to invest, choose Bitcoin. But first, take the time to understand that all your investments can go to waste and that by investing, you are ready to lose everything. I think you understand the value of your money, and for this, you also need to understand where and how much you want to invest. Time is your best teacher; no one will give the right advice here; your teacher is experienced; we are all just outsiders who have different opinions; and the choice will always be yours.
the choice is your own responsibility. some of the advice you gave is just an illustration of what beginners should really do should think about it. Investing in bitcoin is a good recommendation, and don't ask about whether the current price is cheap or not, because that's only price specific. Investing in crypto has risks and can even lose it all. Understanding the value of money as you say, of course there will be good planning before making an investment, research is very important so that the money invested is not in vain.
The best advice to beginners "avoid shilling projects".
If you're a beginner, I'd advise you to avoid social media influencers who help to shill a project or predict which coins will do well in the market; most of them are paid to shill the project. If a beginner decides to be lazy and listens to whatever they say, they may fall victim to the "pump and dump" scam.
And, above all, invest in BITCOIN.
The best advice to beginners "avoid shilling projects". And, above all, invest in BITCOIN.
I remember my days as a newbie in crypto, then I was easily carried away by shilling projects. I do take their words seriously on social media(telegram), making me believe that I have my future secured by investing in their projects to which I fall victim. But thank goodness am able to stay clear from shill projects because of the exposure I have gained from this forum to only invest in bitcoin and have a rested mind(secured future)investment.
As pathetically said, it is a Herculean task. If you have money that, judging by the question, you want to invest, choose Bitcoin. But first, take the time to understand that all your investments can go to waste and that by investing, you are ready to lose everything. I think you understand the value of your money, and for this, you also need to understand where and how much you want to invest. Time is your best teacher; no one will give the right advice here; your teacher is experienced; we are all just outsiders who have different opinions; and the choice will always be yours.
What is your recommendation for a beginner?
A continual DYOR (do your own research).That will save you from the tricksters that has an hidden agenda upon teaching you some things that you may seem to be enticed and not aware that you're being misled to.
Because the market is full of many good and bad things for which a beginner will be totally optimistic of the information that he/she may come to realize how vast it is.
Like those opportunities that will be shared and discovered by DYORing.
Don't let people misguide you. All the talk about bitcoin being bad for environment, about PoS mining being better, that you need to buy 1 bitcoin to profit from it. These are all lies.
Also, don't believe youtube traders. These guys are so full of shit. Every time they sell bitcoin they're going around telling people that now it's going to 10k because it has to go to 10k there's an invisible line that has to be touched there and there won't be a bull market until we do... oh, and buy my online course and newsletter so I can tell you when I buy bitcoin.
Also, don't believe youtube traders. These guys are so full of shit. Every time they sell bitcoin they're going around telling people that now it's going to 10k because it has to go to 10k there's an invisible line that has to be touched there and there won't be a bull market until we do... oh, and buy my online course and newsletter so I can tell you when I buy bitcoin.
Cryptocurrency just like every contemporary innovation is vast and encompassing. This practically poses a challenge for begjnners. Furthermore, choosing which aspect of crypto to venture into - trading, mining, investing in ICO and others - is a herculean task considering the various degrees of risks associated with each of them.
What is your recommendation for a beginner?
My recommendation for beginners is very simple. First of all, if you don't have enough experience to trade, then don't trade before you really have the knowledge for it and understand how the risks are. Second, if you are good at assembling a mining machine, try starting it if you have sufficient capital for this.What is your recommendation for a beginner?
And the last is investing in several platforms such as ICO in the past even though at this time ICO is no longer seen as a good land for investment, but if you want to invest in the long term, I can only advise you to invest in Bitcoin. But if you also like altcoins, don't look at new altcoins whose potential and future are unclear. But try to see the altcoins that are often in the top ten in cryptocurrency rankings even though in my personal view any altcoin is only suitable for short-term investments.
New to crypto? I can tell you what I've learned and what I'd do if I were to start again from scratch.
1. Beware when someone bothers you, messages you about a job, wants to help you when you're not asking for it, has an investment opportunity for you. 99.9% of the time it's a scam.
2. Don't waste time on learning about new altcoins. Most of them are scams or pump and dump schemes. Sometimes you make money sometimes you don't but you always waste a lot of time getting to know protocols and they're usually just ideas that never become anything real.
3. Buy bitcoin. Just get exposed to it. It doesn't matter how much money you can have. If you have spare $50 use that and hold for a few years. The more you have the better. I wish I knew this years ago when I came here but I thought all coins are equal just different in the goals they want to achieve. It's not true. There's bitcoin and there are altcoins. Don't let people fool you that it doesn't matter what you buy because it's the same crypto space.
1. Beware when someone bothers you, messages you about a job, wants to help you when you're not asking for it, has an investment opportunity for you. 99.9% of the time it's a scam.
2. Don't waste time on learning about new altcoins. Most of them are scams or pump and dump schemes. Sometimes you make money sometimes you don't but you always waste a lot of time getting to know protocols and they're usually just ideas that never become anything real.
3. Buy bitcoin. Just get exposed to it. It doesn't matter how much money you can have. If you have spare $50 use that and hold for a few years. The more you have the better. I wish I knew this years ago when I came here but I thought all coins are equal just different in the goals they want to achieve. It's not true. There's bitcoin and there are altcoins. Don't let people fool you that it doesn't matter what you buy because it's the same crypto space.
At fast learn about what you want to do. Think before doing is this right what are you doing . If you face any problem don't feel shame to ask any one....
choosing which aspect of crypto to venture into - trading, mining, investing in ICO and others - is a herculean task considering the various degrees of risks associated with each of them.
What is your recommendation for a beginner?
What is your recommendation for a beginner?
What are you interested in? If you aren't sure, try all except icos investments (most of them are scams), and stick to one you like best. Remember to use self custody wallet to hold your crypto investments.
In addition, you may try,
1) blogging: https://hive.blog
2) applying for jobs: https://cryptocurrencyjobs.co/
Cryptocurrency just like every contemporary innovation is vast and encompassing. This practically poses a challenge for begjnners. Furthermore, choosing which aspect of crypto to venture into - trading, mining, investing in ICO and others - is a herculean task considering the various degrees of risks associated with each of them.
What is your recommendation for a beginner?
What is your recommendation for a beginner?
for beginners, I will likely to advise them to go for more research before they decide to pick any aspect you have mentioned either trading, mining or investing. But for own research I think investing is a option is because it don't involve stress and risks like mining and trading.
I will also advise beginners to stay away from altcoins and fully face bitcoin because it more secured than whatever we call altcoins.and again we have experienced many of altcoins which after turn to die project.
Also avoid using centralized exchanges because their not a well secured place for your investments except you just want to use it to purchase Bitcoin, which I think it will only make it easier using so. Please don't allow anybody to help you create your wallets because you are only the one expected to know your private key or your trust close one incase if any happen especially when you are not life, if anybody knows your private key your Bitcoin are not safe due to they have access to it.
Cryptocurrency just like every contemporary innovation is vast and encompassing. This practically poses a challenge for begjnners. Furthermore, choosing which aspect of crypto to venture into - trading, mining, investing in ICO and others - is a herculean task considering the various degrees of risks associated with each of them.
What is your recommendation for a beginner?
What is your recommendation for a beginner?
good information is worth its weight in gold. even if it's negative and you don't like it, it's still valid.
Always do your own research, then ask for advice, do your own research again then make your own decision. no one will manage your money better than you. Do not trust random and unknown people on the internet.
btw. ICO is death.
Beginners must learn about Bitcoin, invest in Bitcoin before doing anything with any altcoin.
Bitcoin is a biggest cryptocurrency and it is safest for investors too. You won't see Bitcoin has 99.99% fall like many altcoins. If you jump to altcoins, you will lose your capital more easily.
Beginners should invest first and avoid touching margin, leverage, future tradings. If they are new in the market, they don't know how it works, how it is affected by news and fud, so they will gamble like a blind horse.
Bitcoin or altcoins, beginners must learn what are custodial and non custodial wallets. How to create their own non custodial wallets and make backups. How to recover their wallets from backups. How to encrypt their wallet files with strong passwords.
[GUIDE] How to Create a Strong/Secure Password
Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained.
Crypto security: Passwords and Authentication (Livestream -aantonop)
Bitcoin is a biggest cryptocurrency and it is safest for investors too. You won't see Bitcoin has 99.99% fall like many altcoins. If you jump to altcoins, you will lose your capital more easily.
Beginners should invest first and avoid touching margin, leverage, future tradings. If they are new in the market, they don't know how it works, how it is affected by news and fud, so they will gamble like a blind horse.
Bitcoin or altcoins, beginners must learn what are custodial and non custodial wallets. How to create their own non custodial wallets and make backups. How to recover their wallets from backups. How to encrypt their wallet files with strong passwords.
[GUIDE] How to Create a Strong/Secure Password
Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained.
Crypto security: Passwords and Authentication (Livestream -aantonop)
What is your recommendation for a beginner?
For a beginner, I will advise that you avoid any investment on altcoins. Concentrate your investments on Bitcoin alone. This is simply because Bitcoin has come to stay. It may dip badly but it will surely recover unlike alts that can disappear into thin air. Two, don't take any advice from anyone who sends you a PM asking you to invest in a certain business. Don't trust anyone quickly here, verify them first. Just like we've nice guys here, we also have bad guys and scammers too on the internet space. Have it in mind. In addition, always make it a habit to DYOR (Do Your Own Research) before plunging into any investment. 
Lot of members here have giving you advice on which is best...
Adding to what @Cantsay said..
Social media influencer prediction are not to be taking too serious because they are paid to promote a particular coin, which can only results to pump and dump.
Before you invest look for project that have solid foundation and things backing them up.. when I was introduced new to crypto I started with blockchain own coins, which are the coins used by the exact blockchain to cover transaction fee, before I decided to buy BTC and store for the future.
Another advice I will give to you is, if you are to use centralized exchange in buying any coin of your choice. After successful purchase always move out your coin/token to a wallet which you have the private key/phrase
"Not your Key, Not your Coin"
For assets which you don't fully have control over it is actually not your own.
Adding to what @Cantsay said..
Social media influencer prediction are not to be taking too serious because they are paid to promote a particular coin, which can only results to pump and dump.
Before you invest look for project that have solid foundation and things backing them up.. when I was introduced new to crypto I started with blockchain own coins, which are the coins used by the exact blockchain to cover transaction fee, before I decided to buy BTC and store for the future.
Another advice I will give to you is, if you are to use centralized exchange in buying any coin of your choice. After successful purchase always move out your coin/token to a wallet which you have the private key/phrase
"Not your Key, Not your Coin"
For assets which you don't fully have control over it is actually not your own.
Unless you're solely a daytrader who trades like 1-minute charts, 99% of the time it'll be absolutely necessary to do your research and know the industry you're in. Funnily, most people skip this part and simply just resort to YouTubers who just pump and dump coins on their faces.
* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj
Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html
If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
* https://github.com/ethereumbook/ethereumbook#chapters
* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj
Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html
If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
* https://github.com/ethereumbook/ethereumbook#chapters
according to what I have experienced in the past. then the most appropriate advice for beginners is Don't be in a hurry to learn everything. do it slowly but consistently. and also don't be hasty in deciding to invest. do it with careful consideration. it is better for us to spend more time studying or analyzing before deciding anything. when you've learned it. and want to start investing then start with small funds. enter gradually as with the DCA method.
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