Bitcoin Forum

Is there anything any newbie should avoid doing when it comes to investing in bitcoin or the digital currency in general? Especially for those who dont know much about cryptocurrency yet, what advice can you give that a newbie must avoid at all cost?

First of all, visit this forum, study all factors, risks. Understand that it is necessary for him. As well advice to you, sometimes in the section of beginners to go further than the first page, such and similar questions have already been asked many times.

Avoid such type of thread in meta section....

In general: Don't go balls-deep in to something that you don't understand. Interested in investing in cryptocurrencies but have no idea on how to have a secure wallet? Then read first. Looking for a good coin/token to invest in? Do your own research; don't just invest in coin X just because some dude on a forum thread or a reddit post told you so. First time investing? Don't want to be drowned in debts? Don't invest a big percentage of your money in to crypto. Always take risk in to consideration.

First Avoid making final decisions especially when buying coins. No one can say one fact as most important since this is a big industry & you should know surrounding very well before investing in this field. I believe that this is fair for any industry for a beginner. In fact if you are not a fast learner opportunists can be missed. In that case first you should LEARN then leave L & start to EARN. Use this forum, Youtube & crypto space very well. Once you are packed with some theories stick in to your method. Don't be "emotional" & break the method. That is one you should importantly avoid. Many more to mention but you need to put your effort to LEARN. Be the one to learn.

Avoid day trading ^^ better invest on a long term  period  when you began ,  its safer and better for  your mind ^^

Do not invest money you are afraid of losing! The first few times you can lose all your investment so do not invest in only one cryptocurrency. Divide your investment into several promising cryptocurrencies.

Just invest as much money as you are willing to lose. If you are going to trade you will lose a lot of money at the beginning, so don't invest money you can't afford to use!

One? Here are six.

• Don't invest in anything that you don't understand well.
• Don't invest in something just because somebody says to.
• Invest for the long term.
• 90% of ICOs are outright scams and a legitimate ICO has no more than a 10% chance of succeeding.
• Assess risk appropriately. A concept is a long way from a working demo, which in turn is a long way from a finished product.
• Technical analysis is financial astrology.

The most important advice is to invest only free funds.
There were a lot of cases when people lost huge sums due to lack of knowledge!

Don’t invest in anything that doesn’t exist.

For those who don't much about bitcoin the best thing that you can do is just buy bitcoin and hold it, only with an amount that you can afford to lose.

If you have basic knowledge about bitcoin and you have vision that one day it will be big then that's all you have to do. Like what they said, avoid ICOs.

I think Get knowledge is the basic thing which most newbies ignore. :(

Sorry, but what "type of thread" are you talking about? Do you mean the one I just asked, seeking advice about digital currency for crypto first timers?

Thanks! I agree on being careful about investing money I'm not ready to lose. Any tips on those promising cryptocurrencies that a newbie can invest in?

LOL, it's so true. But don't forget that when a lie is constantly repeated by several people it can become true in the mind of many others. Markets move out of fear and greed, and technical analysis is a perfect tool to create such feelings...

Avoid those people who are inviting you to invest ion thier  project.  Read more about bitcoin to increase your knowledge so that nobody will try to  scam you.

The thing a newbie should avoid is to not invest anything that you dont have any knowledge or you dont understand well. As a newbie you must invest only for free funds

Good point! I'd invest 'on paper' for a year or so. Select a thing and record a reasonable amount of money you'd have to invest, and then see how your investments would grow (or not).

For example, select an ICO now and record the amount of token you would be able to buy now on your real money, and set an alarm on a day some 9 months from now to recheck if your investment gave you any profit or not.

I think you can go through the below topic.  It will give you the basic idea of all the scam involved relating bitcoin and crypto currencies.

https://bitcointalk.org/index.php?topic=2970157.msg30515162#msg30515162

First, you should not log in to any website or software that asks you to enter your wallet private key. Second, you should trade on a famous large trading platform. Don't invest easily in any ICO project!

I have opened up the link you provided and I just want to say thanks for sharing it, though I have not red it totally but at least this gave me lots of ideas about the world we live in cryptocurrencies.   

I'm eager to know also as a newbie

i will advice that you do not jump at throwing your money into any coin investment, take some months to learn, i found trading very interesting when i was introduced to crypto currency but lost big because i was eager to start investing, i advice that you take your time to study and get a mentor to guide you on a daily basis.

Remember never to store your coins on exchange for a long time, because your coins may be lost if the exchange get hacked. After buying the coins, you should transfer back to your own wallet as soon as possible.

Firstly , I think you should learn how to protect your coins , even the best safest exchange platform is not safe , you need to keep your coins in your local computer . Secondly , you need to learn how to trade .

If I were to pick one thing, I'd say replying to beggars and people who want you to contact them via other social media, give them your phone number and such. I've seen beggars like that who pm you asking for money or asking to join their pump group, or to contact them on telegram. Stay away from suspicious people that want to be your friends all of a sudden.
Next one in the list would be cloud mining and everything that looks like it.

Avoid investing your money without so much knowledge in crypto currency you will only throw your money if you do that.You must educate yourself first before investing.

I am a newbie but I have not invested in bitcoin because I have too little experience. I never go into things that I do not understand to avoid financial losses.

Where here for no money investment issue im here to earn with my talent and diligence now i pick and read when i start with campaign and see what will happen in the future . if someone can be my mentor be my angel thank you