Bitcoin Forum

Having a proper knowledge of cryptocurrency helps you avoid unnecessary losses by being victim of scams, notwithstanding if the scammers are passing through a close friend or relative of yours in introducing it (investment project) to you, by your common enlightenment of cryptocurrency you will be able to quickly discern they are fraud despite whatever buzzwords they may use in their bid to deceive you. In that scenario you don't only help yourself escape from falling victim but also exhume such a friend or relative too. In extension, your knowledge of cryptocurrency equips you to avoid platforms that promises offers that are too good to be true as return on your investments.

How fraudulent persons easily take advantage of you is in your urgency to invest. Get knowledge first before you invest or trade in cryptocurrency rather than putting your money into what you have no understanding on.

Every experienced crypto enthusiasts always talks about the avoidance of greed and that's because it does matters and can't be overemphasized. Keep off from greed avoid being part of those that are interested in making money for doing nothing. In the initial footing of your crypto quest learning should be a focal point.

Cryptocurrency is no doubt a revolutionary adoption that is successively moving across the board into different facet of the society and if you don't learn to have a proper knowledge about it now you're going to be left behind when the global acceptance multiplies more than it is today. At the end of the day learning can not be overemphasized in life.


EDIT
Here some materials source I uncover from the forum that could be of assistance to any newbie interested to learn, they may not touch purely on investment but it's a good starting point for learning and  you can go further by DYOR on more informations through other sources.
Beginners guide to btc
https://learnmeabitcoin.com/beginners

https://bitcointalk.org/index.php?topic=1631151.msg16405643#msg16405643

https://bitcointalk.org/index.php?topic=3469416.0

https://bitcointalk.org/index.php?topic=2968050.0

https://learnmeabitcoin.com/

One needs to seek for knowledge and adequate information before engaging in taking any step of investment in cryptocurrency, also you shouldn't assume you know it all when you're just yet to get started, a half baked cake is not a cake at all, lack of information will get one deformed because there will be loss of asset involved and any scam or fraudulent activities to experience along the way.


A greedy man is an impatient being that always like to forcefully achieve a landmark success in life without being patient enough for their own time and turn to come, such individuals are are not contempted and cannot appreciate the value of what they have, not until they loose everything together on the course to gain everything.

Knowledge is the cornerstone of every success, including Bitcoin investment. If you have a good understanding of Bitcoin and cryptocurrencies and how they work, it will be difficult for you to fall for the most popular types of scams in the crypto sector, but some individuals prefer to start without studying, which is why the majority of them wind up falling prey to various scams.

The urgency to invest is primarily induced by FOMO; everyone will be eager to invest so that they do not miss out, and as a result, they will make silly errors that may lead to them being scammed.

Most people who see cryptocurrency as a get-rich-quick scheme are greedy, and they will likely accept any offer of high returns that the scammers make them in order to gain quick money.

They should never go on somethings they don't know even if this is introduce by their friend or family since they don't know if this will result to any positive approach to them. So best before going on something risky much better if they should research first the information you receive so that we can define that this is good and not a shady platform to invest. There's so many ways to ask for feedback and this is the importance of this community since we can ask various people who's more experience to us and get helpful information by the advice given.

Any undertaking of something new, by itself, implies learning. How will you deal with what you don't understand? But I agree that if a person comes to crypto, the rush to invest in different types of coins, of which there are a lot today, can lead to the loss of their money.
I always thought that money is hard for people; if you do not want losses, you will learn about the project ten times from all sides, and only then will you risk becoming an investor.
Although, of course, beginners need to follow strictly one leading Bitcoin, learn all the ways to handle and store it, and then go and buy.
As a logical conclusion, for everything that you are interested in, knowledge is needed, and the more of it, the more successful the business will be.

Your OP might be able to add some information regarding what knowledge a beginner might have. because indeed every beginner will not seriously put their money into the market without knowledge. they will study first. but sometimes the knowledge they get is not accurate enough to help them choose investment or trading assets.
you may not need to rewrite it if additional information is already on this board. you just have to make it a reference for beginners. I hope you are willing to add it and of course, it will really help beginners.

I am second the motion for this, Op must add a little bit good information because as we all know that once a beginners try to enter the Crypto world then they must have enough knowledge becausee sometimes they will see or learn not accurate knowledge then that's the reason why some investors will failed. And if they have enough and accurate details then one thing for sure they will be a successful one.

Actually the thing is most of the people becoming interested in crypto investment are those who get influenced by paid shillers who somehow attract them to invest in different projects from whom they are paid.This is why they rush to invest without even learning about the team background what project is offering and why they will get returns for it but simply blindly follow their advice and regret later on.You also know how many coins come on daily basis but what utility they are serving as compared to bitcoin like currencies against they are competing? Nothing but the newbie investors surrounded by greed jump into them and loose funds.

It has adoption like no other else. But come to think of it, many users only view as crypto as money multiplier and government see this unfit. Why? Cause its easy and very convenient to investors. But hence some losses money due to greediness and lack of knowledge like what you have said. Its alway better to be agressive at a right time and be secured when its needed so.

Investment in Crypto takes a lot of time in you knowing what you are investing in. Being a newbie to Crypto, it is advisable that one needs to properly know about Crypto to gain more knowledge about it as scammers take advantage of newbies since they know newbies are desperate to invest in new projects. They will take advantage of that opportunity to persuade you to invest in their project and once you do that,  the rest is history, your funds are all gone and it will be story upon story which does make any meaning.
These are the reasons newbies are advised to properly take out time to study about Crypto so as to know when a scammer comes to you in the name of investing in their projects.
I believe this thread would give insight to newbies and the reasons they must learn about bitcoin and Crypto in general.

No one can learn from others' experiences, go experience it yourself and write your own journey. Do not copy. Do not emphasis someone's learning in your life.
Not everyone's life is the same, and so does the experiences.

Go try out everything you need in Cryptoverse and once you start making mistakes, you will understand that you are growing.
Because the one who does not do mistakes, never learns.

Mate, I believe mistakes sometimes are as a result of carelessness of the individual in particular.
There is a saying that says " what an elder sees while seating, a child cannot see it while standing"  whey I say this,  learning from people's experience is not a bad thing but it aids you to apply the principles of that person who had the experience coupled to your own knowledge to best handle that situation or challenges to achieving success.

The time wasted while trying to learn is not bad but it is bad when you fail to apply some principles of the knowledge you have from others who have been there before you to enable you scale through the process. In this case, when ever a situation arises that seems difficult, one can easily apply a method he or she has already heard about to that situation which would make them come through.

With the above as explained, I think learning from experience is not bad but a good one to expand your knowledge and horizon.

Not only the urgency to invest but also the ignorance over the subject.  Even with the urgency to invest if a person knows what he is doing, he will never fall into the trap of scammers.  I think people who are easily scammed are those that are too greedy and lack knowledge of the area where they are engaging.  I fully agree that we must never put our money on something we have little to no knowledge.  Or let other drive us and make a decision for us since if they are the people who are convincing us, they might lead us to their trap because seldom of these people will decide for our good, they will always the path towards their advantage.


True that, I have seen lots of people blinded by greed lose their lifelong savings.  They hastily invest without verifying the legitimacy of the offer of the scammers.


One shouldn't underestimate the power of education, in every venture we must educate ourselves about the investments.  We must also learn to know the current uptrend, and hot topics of the economy so that we can go with the flow and won't be left behind.  Many people missed opportunities because of the lack of knowledge of what is trending and hot in the market, while many companies aren't able to cope up with changes because they ignore the power of knowlege about the recent event of the area they are involved with.

Tye cryptocurrency world is a place where we ought to know what we are doing or else we might just end up keep losing money without knowing what could be our problems. The community is fair enough and for those that don't want to acquire the necessary and adequate information about crypto and it market, they will keep complaining about not earning from the market. Most time this is due to our rush to  quickly want to invest without having someone to guide us through the journey.
It is very important to keep doing our own research as either a crypto investor or trader. We need to ask questions about what we don't have proper comprehensive knowledge about so we can keep learning non stop.

We certainly can learn from others experience if we are smart enough, I don't really want to risk everything on my own so I will look for the review, feedbacks from the others who already experienced it. And that is why we have forum like platforms where everyone share their information which might be helpful for someone else.

But we can't understand everything without trying it on our own so we need to be smart as well as cautious when it comes to money.

It's prolly the same thing that's been said over and over again in here...
As much as I know, in a proper circulation pump, funds must leave one exit address into another receiving address - willingly or not,.. either ways, it must happen,.. just don't be the victim in these case.
Therefore any newbie that doesn't wanna pay with 'em hard earned bucks for not doing the right thing shouldn't hesitate to learn and follow the rules of the game. Pseudonymity is the core-rule in the game and whatsoever isn't acknowledged under the rule falls a victim.

Sandra 🧑‍🦰

Is probably on of the most popular advice giving to newbies coming into cryptocurrency. Firstly I would say it is the narrative most people get coming into cryptocurrency, which is to get rich quick.  some of them just come in and they subscribe for signals or they act on FOMO, this makes them not to focus on having the fundamentally knowledge about it.

In as much as I would advise someone to wait till he acquires enough knowledge aside the security knowledge before going to trading, I would also suggest he takes some funds he can lose and hodl for long. This will give him more experience and coupled with the knowledge he is acquiring the road to been a successful trader will be easier.

Thank you for the recommendation as initially I never thought of that in mind but as you have said I'll do well put up some sources of information that they be of help  and I'll do appreciate if any body can also drop in some materials with the needed informations as it concerns the topic.

Knowledge is crucial in all aspects of life, but it's especially crucial when it comes to business or investing. Before undertaking any action, one must be well-informed; otherwise, it will be very difficult to achieve success.Therefore, having a thorough understanding of Bitcoin and cryptocurrencies in general is essential for success in the cryptocurrency sector.


Because of this greed, a lot of people lose money in the cryptocurrency industry very easily. When someone is eager to make quick money in the cryptocurrency industry, they will never know the right direction because their aim will just be in a place where they can make it easily and that can easily lead them to make wrong decisions.However, you can only be successful in the crypto sector if you have a solid understanding of cryptocurrencies in general.

Apart from having a good knowledge of cryptocurrency in order to avoid scam, another thing that leads people, especially newbies to scam is greed.
Pay one and recieve two;
Some people actually believes there is free money somewhere out there waiting to be grabbed and that is why they fall victim of scams promising them unrealistic returns and in the end, most of them end up concluding that cryptocurrency is scam, not knowing that they are the ones that chose scammy projects.

Of course, before investing or trading in crypto-currencies, one should have a thorough understanding of crypto-currencies without having any idea or experience. If one invests in Bitcoin only on greed, there is a high chance of making a profit, let alone a loss. And if trading can be done in the right way, trading can be done according to the right rules, then it is possible to gain profit from that trading. When a new person is involved in trading or investing, various fraudsters try to cheat the new person and those new people are cheated because they are not experienced enough and have no idea about it, so always be aware of these scams.

We might have the ability to discern the fraud projects but we should always be someone who keep on doing research and not just when we feel that there's something wrong with a project.

Like, doing it as a habit in researching and not just when someone tells you to do so in DYOR.

Right on, many newbies tend to invest into projects that are giving high numbers that are unreal.

I don't agree that one cannot learn from the mistakes others make, especially if it's about cryptocurrency or the online world. If I tell you that you shouldn't trust a specific website and don't invest your money with them because it is a scam and I have been a victim of them and I also show you the proof, but if you still go ahead and make an investment with them and lose your money, it's your mistake that you didn't learn from what I did.

So basically, a person in the digital world, or even in the physical world, should learn to observe the actions of others and the outcomes of those actions, so that if the outcome is not favorable, they don't make the same actions.

You are correct. Recently, I had this thought to myself: "It's very possible to be a real Bitcoiner, but a very skeptical person about every other cryptocurrency." Majority of Altcoins are scam so if one has more knowledge about Bitcoin, they will be on the safer side.

If one really has that' true knowledge of cryptocurrency and blockchain technology generally, they would hardly get scammed, and that's when they've really been enlightened. In as much as there are thousands of cryptocurrencies in the space, most are fake, and some are just coming up with the idea of using cryptocurrencies to scam Newbies in the real world.

I still remember that about six years ago, there was a group of people going around the whole city of my residence with fliers and advertising a nonsensical token called Blue Coin. They were convincing people to invest in the coin, and if one did, they would give you an ID card that contained your wallet address and private key. After which, you would download Meta Mask and log your wallet in, and they would deposit the amount of Blue Coin you had invested. A lot of people fall victim to that process; even I almost invested because I was not yet into the crypto currency space, which means I was still a novice.

But after I got into the crypto currency space, I started with altcoins, got scammed, got rubbed off the little I tried to invest, and had a lot of bad experiences, but it was all a good lesson for me. Which makes me more happy because any time I talk to a crypto newbie, i speak with full experience, setting an instance with the bad situations I have encountered in the space before.

So, when one is really enlightened about cryptocurrency, they will not easily get scammed, and they will also illuminate others and prevent them from getting scammed too.

Researching should be done if we are to engage in some form of investment.  Researching everything even though we are not to engage in it would be a waste of time.  It is also advised that we used our time wisely so random researching will only waste our time and effort.  Knowledge is very important but learning useless knowledge that has nothing to do with our future activities is like wasting our resources.


Greed made the person mind malfunction.  Greed remove the rationality and the logical way of thinking on how things work and it makes our brain to focus on the possible huge earnings. Worst it creates a sense of urgency that makes us invest before thinking.

That is a big problem for beginners in the crypto world. Many beginners still make the same mistake, even though there have been many examples before they started to enter the world of crypto investment. There have been many fraud incidents that have resulted in many investors losing, beginners should be able to take lessons and lessons from all of these incidents. Don't just put forward your ego, so you can quickly make big profits in crypto investments. But immature in learning about crypto. So how can you make a profit, if the knowledge is also not mature. Precisely beginners should be more active in exploring their knowledge first, so that they are not easily fooled by evil elements. Because I'm sure, the fraudsters in the crypto sector are also continuing to learn, so they can continue to hook their victims in more subtle and convincing ways. Therefore, investors in crypto, especially for beginners, never let their guard down and don't want to lose to these fraudsters.

Surely, starting up with cryptos requires careful planning and preparation to enter in the market. Determine your trading goals and objectives i.e either you are you looking for short-term gains or long-term investment? Define your style of trading and consider your available time and preferences to select a trading style that suits you best. Develop your trading goals and strategies because It helps you stay disciplined and consistent in your trading approach. Regularly review and update your plan as needed.
Crypto trading takes time, effort, and experience to become a successful trader. Be patient, persistent, and committed to continuous learning and improvement. But to implement all these things, you need to study about the cryptos and acquire basic knowledge and technical skill by joining the relative forum and community support platforms.

from all the points you mention, about commitment and knowing basic knowledge is the beginning of it all. Because basic knowledge is an important start to know everything. Such as technical and fundamental analysis knowledge and what is crypto, investing and trading. Beginners shouldn't miss that because it will be the foundation of everything. A few years ago I did too, learned the basics and worked my way up to know how crypto works.