Bitcoin Forum

What and what to avoid in this crypto world so as not to fucked myself up in every way possible? I need some advice as a beginner and I don't want to mess up pls guide me right, hope I came to the right place

One thing I can advice is if you want to be in the crypto world, atleast learn about it. Don't invest money if you do not know how it works because it's a really big risks. There are a lot of newbie friendly thread here where you can start to read on so you can catch on the basics.

You are welcome to the forum but you haven't told us what missteps you have made in the past.
Is it:

• Trading
• Where you hack?
• Do you intend to buy bitcoin
• Did you bought a shitcoins

Ask any specific questions and you shall be guided but learn to read Newbies-Read before posting (https://bitcointalk.org/index.php?topic=1689727.0)

Start by learning what's Bitcoin. This will definitely clear up some things in your head.

• learnmeabitcoin.com (https://learnmeabitcoin.com/)
• bitcoin.it (http://bitcoin.it/)
• lopp.net/bitcoin-information.html (https://www.lopp.net/bitcoin-information.html)

As for advices, we'll need more context. What do you want? To trade? to get involved into the cryptocurrency industry? To buy/sell?

Crypto space is a wild west the only way to survive and push forward is learning after learning, it's not something you can get through in a day and you don't have to rush things out, take your time and learn one after the other Rome isn't built in a day remember? Here are other important advices

1. Don't trust anyone in this space some bad people are looking for innocent people to take advantage of

2. Every crypto users have telegram but this social media source is the most risky of all, too many people lost fortunes to scammers on telegram do not reply PMs cos they are scams

3. Use mycelium or other open source wallet they are more reliable than other , if you don't know what open source and closed source is do research on your own using Google all answers are available

4. You must have heard about uniswap and other Dexs like it, do not leave your wallet connected to one after finishing a transaction, always disconnect

5. Ask for advice like this, don't ever get tired of it that's why we are all here, to share good experiences among us

Avoid investing in the majority of the meme coins. Dogecoin and Shiba Inu are the most known of them all and there are going to be shillers that might come your way and tell that the project they're investing in is going to be the same as Dogecoin or Shiba Inu. But the thing is that they're only shilling you that project because you're a newbie and you're going to be gullible and believing them that they're telling the truth. It's best to start buying bitcoin if you don't want to get rekt as easy as the others.

You took quite a long time to create your first post on the forum considering you registered mid last year. Most people think that (having a gap after registering to read up) to be the best approach for new users as it affords them ample time to read and get aquatinted with the forum and Bitcoin, and that's the advice I will give you now. Read!

There are so many different ways you could get undone in crypto, from wrong investments, carelessness, scams etc and you cannot be prepared for all of them by reading through one thread, but if you form the habit of perusing through any piece of information given before taking action, then you would more than likely be able to protect yourself.

Also, treat everything as a scam until proven otherwise.

Don't:
- Don't trade or invest if you are not ready with the risks
- Don't trade or invest if you don't have enough money
- Don't trade or invest with money that you will use for certain necessities in your life, only use free money
- Don't force yourself to trade or invest with money that you cannot afford to loose
- Don't follow hype tokens
- Don't trust anyone that offer you helps to multiple your money in investment
- Don't trust other people hype advertisement without any further analysis by your own self, always do your own research (DYOR)
- Don't think that trading or investing in crypto will make you rich soon or overnight
- Don't only focus on earning money, but also learning knowledge, making good strategies and also considering the risks.

Avoid Ponzi schemes. Always be doubtful when someone or some platform offers a huge return as it's a 101% scam. Learn from your mistakes, start small, and don't get too aggressive, slowly but surely, that's the way you should do.

Lastly, DYOR ( Do your own research), that's the due diligence when investing, and don't only focus on one source, you can use the forum to ask for suggestions and other popular platforms that are not biased or solely controlled by the owner.

Of course you did, Bitcointalk houses so much crypto knowledge in it, and all you need do is request for such knowledge and you would get it, even without making this thread you can use the search button and search for security protocols in the Bitcoin network and you'll be offered a lot of threads on the issue to enlighten you. As you can see, quite a lot of users have already given you valuable tips, but that just goes to show that there are many of them, and it's somewhat impossible to master all as soon as possible, just start with that which concerns the direct protection of your assets, choose a safe, non-custodial wallet, do not share your seed phrase to anyone and don't invest more than you can afford to lose.

What to avoid in crypto? There are probably more than a handful of those. You're not making it specific. Basically, though, you need to avoid getting deep into crypto without first knowing what Bitcoin is. I guess that's the very basic. It's always a good start. After all, crypto is 99% Bitcoin and 1% miscellaneous.

Eventually, you will have your first Bitcoin. Avoid going all-in. Bitcoin has risks and you need to manage it. And then you also avoid keeping your Bitcoin in custodial, centralized, and close-source wallets, especially exchanges. You will only keep it where you are the sole controller of your private keys.

Moving into the financial side of things, avoid letting your emotion get the better of you. Hodl yours. There's a reason why hodling gained respect. But avoid expecting a smooth ride. The road will be bumpy and scary. Don't break and sell with a loss.

Finally, avoid trusting so easily. It applies to many things, whether it is an email, direct message on this forum and elsewhere, social media posts, news, ads, links, and so on and so forth. They may be phishing attempts, scams, malwares, and so on.

While some members provided helpful advice, it should be enough to give you a good idea of what to look for. Dig deep and READ a lot of information about them, soak up knowledge by searching concepts and ideas in and out of the forum whenever you come across them.

Trust me, there is a fuckton of useful advice in each and every aspect of crypto, and giving it all at once will not be practical advice. It has to be a process of asking a specific question about a specific scenario and it happens along the process of your journey.

Actually in cryptocurrencies we don't have a specific guidelines that wil protect the interest of the user in any form and any condition, from my observation it's what you encounter during the process will obviously and automatically be your personal guidelines and i stand to follow my step because the steps other people might not be favourable to me....at i will encourage you to follow this process Incase it be favourable for you because bitcoin is dynamic and it depends on the root you follow.

* Dont invest when you are not supposed to invest.
* Don't trade with all the capital.
* Watch the chat of bitcoin before you adventure into buying.
* Ensure you have good foundation of knowledge before you enroll into trading.
* Know very well that most times the disadvantages of bitcoin via trading is higher than the advantages.
* Buying altcoins for long term investment, ensure you peruse into the project to know the potentiality of the coin.
* Abstain from ponzi scheme investment.
* Use your spell money for trading as a beginner.

All newbies don't know what they are doing they only have clues that aren't confirmed yet so they always think they can do experiments themselves which always turn to getting scammed along the way..

As a newbie accept the fact that you know nothing, the next thing is learn and learn and learn over and over again, ask questions and do some research on your own, this is the way, in time you get better

What not to do? Good question.

But the answer isn't that simple. It depends on what your interests are, and what you hope to gain from the crypto world. Generally speaking, the first thing you should do is secure your crypto assets. The majority of all crypto-related theft happens because a user unwittingly sends their private keys to a person, program, or device, or lets a hacker into their computer. There are many ways to secure your crypto assets, but the best approach for most people is to use a hardware wallet. Hardware wallets are physical devices that use secure, tamper-proof electronics to store your private keys.

Get the right knowledge about crypto currency and stay real to what ever aspect of crypto currency investment you choose to explore. Crypto currency comes with lots of opportunities and all comes with its own risk. A well knowledged investor could atleast save themselves from most of those risks. Lastly keep your investment real and affordable never work with a borrowed capital and never invest beyond your source of income. Deal only with what you an afford to lose

If you're really paranoid about scams and wanted really safe in this world, this is my advice:
1. Never buy shitcoins.
2. Buy Bitcoin with DCA strategy every week(s) on reputable exchanges.
3. Hold your Bitcoin in non custodial wallet (verify the signatures) or buy a hardware wallet.
4. Keep your privacy, security, and educate yourself (never click random links, never publish anything, don't click http url, avoid ponzi, avoid interest investment etc).

I believe you'll never got scammed, even there's no 100% guarantee but this close up to 100%.

Good advice by everyone and we are all pretty much saying the same things.

$hitcoins - the lure of buying something for next to nothing and hoping/believing
that it will 1000x is very attractive but the reality is different. There are new coins
every day and all are looking for attention, its impossible to know in advance which coin
will get the most attention and become pumped, there are 8000 approximately, they are all risky.

Ponzi/HYIP^{High Yield Investment Programs} schemes - are specifically designed to
seperate you from your investment. They look unbelievably attractive but are not real.

Wallets - get yourself a good hardware wallet and take control of your Bitcoin rather
than trusting them to custodial wallets like Coinbase or Binance or any other exchange.
Get your hardware wallet from the original source, not from ebay or amazon for example.

Sources:
https://trezor.io
https://www.ledger.com

Wallet boards > https://bitcointalk.org/index.php?board=37.0

Avoid SCAMS at all cost. You can definitely identified them once you started to learn the basics and all the stuff related to crypto. These scams will always knock your doors whenever you are always into crypto either its on bitcoin or altcoins. The best move is avoid them if you already knew that there is something fishy about them. They usually occurred and appeared in the form of giveaway which they will lead you to give something that when you give it the scam occured and his gone right away.

This is advice that every beginner should follow, and I'm sure it would be much better for everyone to make people understand what is most important in the whole crypto story - not profit in the first place, but knowledge. That eternal FOMO (fear of missing out) that affects so many people is a really big problem.

If you pause for a moment and think about everything, then it will quickly become clear to you that you need to go the right way, and not look for shortcuts that often lead to the abyss. First learn what Bitcoin is, then how to store it properly, and only then start investing - the reverse order only means problems, there is evidence for that all over the internet.

Here’s one example of someone allegedly losing as much as 40 BTC (https://bitcointalk.org/index.php?topic=5381550.0) because he didn’t realize the importance of proper backup - we’ll all agree that it’s a very costly mistake.

You are very well welcome to this forum, the number one forum where you can get the best support and help in the entire crypto community.
It is almost hard to say you won't get hit by some bad project even as a bounty Hunter. Which part of the crypto community do you wish to venture into, cause there are a lot of ways of earning from crypto currencies and also in this forum.
You can render some service of which you are a professional. Things like;
> Bounty Campaigns
> Campaign Manager
> Writers/Translators
You can also venture into the Trading part of crypto currency, but you must take your time to understand the pattern at which it goes, or you can be a long time investor, who just hold his Bitcoin for every price rise (things can always go side ways, it's how the system works)
Amongst all, always take your time to read and make your own personal research when you are investing into any project, and always invest what you can afford to lose (though, with patients, you can always get your investment back).

I think in this case you need to pay close attention to your financial management.
because this will be very influential and when you can't manage your finances and assets then everything will be useless because it's good to invest or trade everything has a very big risk.
maybe the steps i am doing now can help you in this.
1. when I invest and trade I use money that is not really used in the short term.
2. Self-control is very important because indeed when dealing with money we will have thoughts of being greedy and this can actually make you lose your assets
3. Always try to study and analyze especially when we want to buy a coin or are in a project

Play at your own risk, many people join the crypto world without having prior knowledge and commitment to these things they just want to join because of the urge to earn profit which is part of it but you cannot achieve this kind of thing if you are still null to all of the things like essential knowledge. If you want to risk there's altcoins but if you want to have a good insight and stability go for the bitcoin. As possible don't trust, anyone with your account always keeps safe your funds. Also no one will give you a free money avoid using platforms telling they can double your earning within 2 days it doesnt exist if course ponzi scehemes. Knowledge is the better to feed.

Let us try to be sincere to ourselves, do you aware that having the mindset of making money will restructure a beginner or newbies not to achieve their objectives, having the mindset of money will make a forum user to be conscious of making something tangible to succeed, let us have it in mind, money is a spirit and it renders quick response or quick achievement, because everyone activate thing that will give it money fast, and also pay attention to that.

I liked it. Motivation should always be. All great accomplishments contained an idea and a goal. Not everyone immediately understands their goal, but time plays for them. Therefore, we see people who understand the value of bitcoin, for example, and coming to the forum to participate in bounties, restructure themselves for further study and development of cryptocurrencies.

There may be a different mindset in each person and your words may not be entirely true. I think the orientation of the need for money makes new members look for all ways to increase their money. One of them might be to follow the Bounty campaign program. They used multiple accounts to follow one campaign that was clearly banned. Actually, since the Merit system is applied it makes the forum have more interesting discussions and have high quality. Their original should be to advance the forum, which in the end they will get more satisfactory results.

Here are my list.
+1 don't fall for enticing promise.
+2 your own research should be done.
+3 anything free maybe be a ripoff trap
+4 pay attention to details, especially when checking an app, individuals, companies or so on.
+5 ask questions when necessary.
+6 greed is another self inflicted rip-off.
+7 very importantly seek knowledge and read up.

Let us show new people the way of making production first not by making money. All the newbies just focused on money, before looking at what creation have they done and can this people explain what is forum and Bitcoin, today newbies will come and as on how to make money, they are not ready to know about bitcoin, giving them answers to join bounties and signatures for me is not good because if you watch them well they problem is money

If there is a way to help it is impossible but the sad truth is that, we sometimes got wrong. But I'd never think we have to be afraid of getting messed up and do wrong decisions, people have learned a lot of it so why not use this in order to grow? I am, several times I got a mistake but I don't consider it as a big deal but instead, I do way to make it right and solve the problem. Honestly, learning from those things helps us to become knowlegeable, and it helps us to be more determined for the future.

First, learn well about the crypto world because with it you will have a clear view of crypto. Other than that, don't easily trust people who act in the name of crypto for their own sake by giving an attractive offer because it's most likely a scam, you should avoid it far away. If you want to start trading or investing then start with a small capital first, it's better for you to manage it yourself so you can learn it well if later failure occurs. Today's failure is not the end of everything, learn it well so that it can be a lesson in the future.

I can only advise never invest your hard earned money 100% in crypto if you don't know the risk for buying and holding it, spend only like 10%-20% of your savings if you are new in crypto. Always DYOR before investing to avoid scam projects its everywhere try to ask others opinion before joining, don't rush things as you may regret later.

Buying real purpose coins is the security that you need. As this user said there are many more cheap coins in $0.0000.... and you think they profit to you like dogecoin and shiba inu but you be careful about such, don't be deceived, is very hard to see those cheap coins that will be profiting to you. Focusing more on coins known to the market not to regret.

First two things:
1. Avoid those who tell you that Bitcoin is a scam or a Ponzi scheme or a "Get Rich Quick" investment.
2. Avoid those who tell you that ALL altcoins are shitcoins.

Once you keep those two at arm's length, I think you should be fine.

In addition, don't go into crypto trading if you don't have the set skills for it. While at it, invest only cash you can afford to lose.

If you can provide a "YES" answer to these questions am about to ask you then you are good to go

Can you take a risk.?
Can you manage things?
Do you have a financial source?
Can you think fast and act slow?
Do you have passion for learning?
Do you have enough patience and calmness?
Can you create time to develop yourself?

No one is born an Ireland of knowledge, we all learn from each other. If your response to the stated above questions is yes then i think you're good to go.

Take it slow, moderate your greed, and read a lot, one of the reasons why newbies are losing money and landing in the wrong direction, is they are in a hurry to get into a project and invest without ample knowledge, they did not establish their knowledge about Cryptocurrency and criteria on what to look for a project, newbies are not late we are not lacking good projects but there are so many bad projects too and this is something that you need to avoid.

I've been from crypto trading and it wasn't just working right for me. I wouldn't call that I didn't have the set of skills, maybe just that my time doesn't work for trading and some might need to consider this in addition of what was asked by the OP to not get f'ed in every means possible (assuming s/he is still reading this thread as a Guest user due to inactivity).
I had learned some TA tools like the Bollinger Band and RSI, but it wasn't just enough.

First, before even thinking about spending a penny: learn.
There's a good number of online courses on crypto. From very cheap ones on Udemy.com, to free ones at Tutsnode and ThePirateBay, the choice is yours. you can find many free ebooks too, and Wikipedia is always your friend.
Then, above all, never forget the #1 rule of investing:

Never invest what you can't afford to lose.

This rule may seem silly, but lots of people lost their lives for not following it. You WILL have emergencies. We all do. And you WILL face situations in which you HAVE  to "bend" that rule "just a little bit". Don't. If you don't have the money to invest, don't invest, or try to get the money elsewhere. But do not bury yourself, ever.

One of your worst enemies is FOMO (Fear Of Missing Out). Don't fall for it. There will always be another chance. Just take your time, do your homework, and make a move when you're ready.

And, finally, read the forum, and ask questions. There's an ungodly amount of information here on pretty much everything, and there's also a whole lot of very knowledgeable people ready and more than willing to share.
Don't be shy: somebody said the only stupid question is the one not asked. Also, this forum has a great policy when it comes to dishonest people, so you can trust the answers you get.

And above all: DON'T GET DISCOURAGED!. The crypto world can be difficult, but if others can do it, so can you.

I know a tutor is always very important when you want to learn something new, but I'm afraid in crypto things are slightly a little bit different, most times it becomes very risky to get a tutor, especially when you're a complete novice that isn't even aware that your seed phrase is private, and only you should know it. Then again, most times tutors encourage people to buy coins/invest in projects they recommend to them just cause they are holding such coins and they want to pump it, this newcomer thus will make the mistake of investing without doing proper research which is very wrong.

Having said that, I think the forum is a great repository of knowledge and one who is new can start first of all here to get all the basic knowledge it is that they want to acquire, and even if they want to get a tutor, it should not be one that's too personal, remember to keep everything private, and only give info that would not hurt you, and that also applies to whoever is your so called tutor.

To avoid mistakes in bitcoin,one needs an experienced person and a guidance to direct him or her on the things to do and the things not to do,because I'm bitcointalk,we have the do's and the dont's to adhere to.

In Bitcoin,mistakes stands as lesson and experience.An experienced person is the only person that can be a guidian.

My dear, having the set skills is all encompassing. It also includes knowing your time for trade entry and exit and then sticking to a trading plan. It goes way beyond the use of indicators. A lot of traders make the mistake of picking on trades without first monitoring the pairs and knowing the behavioural pattern of that pair for a while. No! That's wrong. Don't just hop into a trade. Take your time. Allow whatever candle you're monitoring to close. Make sure it closes first. I've seen candle formations change even in less than two minutes to its close.

Try not to rely on indicators that lag. BB and RSI are lagging indis. Focus more on Leading indicators of Pivots Point, Support & Resistance, Trendlines. Those will surely improve your trading.

Things can't be done so easily that is why we need some guidance from those who are knowledgeable about crypto, not necessarily an expert. But I'm sure OP can make his own and gain more knowledge without others, in fact, most of us here have ZERO knowledge of something and that was because we don't get tired of reading, searching online, and watching YT.
We don't be afraid of getting mistakes because this will be the reason why we become eager to learn. And besides, no such PERFECT exists in crypto even in the other form of investment.

Their is some mistakes that stands as a lesson and their is some that is done for a purpose to achieve a better height or get to another level of the forum, their is something  that allows occur to newbies, that is plagiarism.

When looking at or perusing into some newbies response, you will notice that some are inquisitive to get accelerated, that normally pushed them violates the rules and regulations of the community without been aware, so such mistakes are not unintentionally, it's intensional because it comes with greediness and over curious achieve another stage of the community position.

Just like in any investment method, you are duty-bound o do proper research about the cryptocurrency that you are planning on investing on.

Unfortunately, most beginners and newbies think that investing into cryptocurrencies will absolutely guarantee you profit. Remove that kind of mindset and focus on the ultimate goal of supplementing yourself with knowledge about current events that may affect the market price of cryptocurrencies. Bottomline is, avoid investing on something that you have no idea about.

As to scams, better to avoid websites that offer high rates given in a short amount of time. Generally, those are called "ponzi-schemes" that will most likely run away with your investment.

Considering the original poster hasn't been active in the forum since he asked this question, I am unsure whether it is helpful to reply to this topic at all.
If any of the moderators happen to read this, I think it would be best to lock this topic as the topic has lost its usefulness and is not contributing to constructive discussion.

Although I am strongly against spamming and misuse of thread I would say op put this thread in such a way as to not only benefit him but also to benefit others just like him so even if he isn't active or so, many newbies may want to find out more here on this post, so I would suggest we let the post die a natural death for now.

Well I stopped trading long time ago and I just stick to doing my usual strategy which is holding. The time scheduling outside crypto isn't going along well nor aligning a little bit with my time here in crypto.
Thanks for the tip regardless, mate! Maybe one day I'll be back in day trading, but who knows in my scheduling right now. :D

To avoid making mistakes you'll end up regretting you should learn about what you want to go into, crypto is not a thing you can jump into without having basic knowledge and understanding. There are lots of post on this forum that can guide you and you can as well learn from other sites. On here you will learn alot about cryptocurrency.

Well, while at it you may want to consider staking them. Hodling is cool and fine but nothing says you still can't earn extra quantity while hodling. I bet a lot of people don't know that or if they know, they're too scared to venture into it. I don't like hodling any asset without staking it if it has staking on it. It's either I'm trading an asset or I'm staking it. There are reputable exchanges and sites that allow for staking. Binance is one of them.

Binance, Kucoin, and other top exchanges are the most prone nowadays where you might assume that there will be scammers hunting our emails to send us some phishing links to lure us. Not only those fake emails from persons pretending from exchanges but most of the time some also offer giveaways and good-to-be true investment opportunities which will make you lower your defense sometimes. But always think that there are no such things as giving a little amount of crypto and they will give back multiple folds of it. Instead, they will run away with that money and they scam you living you with nothing but an unforgettable experience on trading.

Learn about crypto first and make sure you fully understand the whole technology and if you want to make money do not start with trading because it takes longer to understand, look into top exchanges fundraising for new projects, they are called IEO and IDO, participate in few if you have free money and sell for profit once tokens are released

This is a quick advice, do not reply to PM from anyone either through telegram or Twitter they are scammers and they have nothing to offer you than to use you and dump you, no one will help you in your crypto journey you are the master of yourself, learn what you can by all means let learning be your ultimate teacher

A pm reply is not really bad if someone gives you a personal message, for you to ignore personal message it will determine by the content of the message. Telegram is a social media platforms were you can actually obtain a negative information and also a positive information, so the advantages might be higher than the disadvantages base on your concentration and information that comes in contact, i know vividly that many scammers use social media like telegram to advertise  fake cryptocurrency investment platform but that should not make us to ignore any cryptocurrency information or message that comes from there, i think it's a wrong perceptions if we keep ignoring pm with reading, because we don't really know the pm that will be favourable.

There are very my things you should avoid in my own discreetion..
* You have to understand that these isn't real life stuff or social media that you can easily identify and penalized anyone that frauds you...so for these reason, entrust your valuables only to people that have been rated trust worthy by others already, all to be on the safe side .
* It hurts so much to realise alot of coins gained from crypto in the long run and at the end of the day loosing all to one fraudsters because you wanted to impress someone or yourself;
If you're a gambler, also be careful because they're many gambling sites that can Rob you off your cash and they're also many trust worthy sites that can boost your coins with them and guarantee it safety.
* Avoid altcoins if you don't have patience and also the mind to loose all...... It might not be realiable .
* Trade your coins with website that have been attested by millions.. lastly, read very wide about crypto to be able to understand the T/Cs

That would be a problem if OP can't find one since he's just started and I don't know where he found this forum but I think he did his research. So, further more research and he will be one of the experienced user here although, it will take a sample first before he can consider himself as an experienced user who can stand on its own. And the posts above me about Bitcoin will probably help him but if he wants to know more he could dig up here in the search button or find it on the internet, it's up to him though. Own I a cryptocurrency is kinda good yet risky when some people know you are holding Bitcoin. That's one of the risk though and a lot of risk as you dig deeper.

To stay relevant in the crypto currency industry and to embrace it's innovated technology to its fullest studying consistently is just the way around. The concept of crypto is way too broad and it's opportunities are diverse so to make good funds reading should be more of a hubby and a lifestyle as well

Don't even think about investing first. Because I don't recommend it, but I can't stop you from doing it.
The first thing you should do is don't be lazy to find information about forum and read. Because there are so many sources of knowledge and insight that you can get here.

If you already understand the important points in this forum, automatically your mindset will change by itself and will further encourage you to actively discuss here, You can also give new ideas, suggestions and solutions to other members.
when I first met this forum, I was a newbie. what I said above is my experience when I started my story in this forum.

Keep trying and believe in your abilities that you can increase your knowledge, especially in the cryptocurrency field. Lucky you are here, because there are so many mentors who are ready to help you.