To all newbies in the world of Bitcoin/Crypto

[rohanshinde]

I have been reading up many threads and posts across the internet reagarding investment/trading advice in Bitcoin/cryptocurrencies.
I am investing in cryptocurrencies since some time now. I will suggest the following,

• First and foremost, BITCOIN is not the only crypto currency available, there are many of them with fully functional and solid use case currently running in Production.
• Never follow the crowd, this creates FOMO, panic selling and loss.
• Always DYOR before entering into any coin. Its better to research a coin, study its usecase, try to understand what problem it is trying to solve.
• Stay updated, read a lot of news, posts and threads.
• Don't be here for quick profits, it will only cause mental trouble.
• Investment is always better than trading (Unless you have lot of time to continuously monitor a position).
• Always keep your coins in wallets instead of exchanges. Keep only those coins on exchanges that you want to trade/sell off.
• Open account on Twitter and follow influential people and subscribe them, read their tweets, try to understand what they want to say.
• Try learning charts and couple it with the news/latest update for the coin.
• NEVER EVER I repeat NEVER EVER GIVE YOUR PRIVATE KEYS TO ANYONE/ANYWHERE!!

[Chaki]

The last line was the never ever a no no!!!!!
Never ever share your passwords...to anyone
And if your opening your accounts to public computers be sure to clear history....

[rohanshinde]

Yepp, clearing history matters even on a private computer...
It will save you from unwanted access...

[SayNumo]

How can anyone justify giving their private key away? I get it that people are gullible, but... still...

Good summary, OP. That's what every newbie should absorb from the first few days on the forum.

[rohanshinde]

There are many phishing sites which steal away your creds. Take for example Jelurida, they had a online wallet. Hackers made phishing website out of it and stole many coins. Jelurida stopped their online wallets and have a client now.
Always download wallet from official websites only. Newbies don't know all this stuff and login their private key anywhere, hence as a word of caution, Never give your private keys anywhere or to anyone no matter whomsoever they are.

[SayNumo]

There are many phishing sites which steal away your creds. Take for example Jelurida, they had a online wallet. Hackers made phishing website out of it and stole many coins. Jelurida stopped their online wallets and have a client now.

Good point.

Always download wallet from official websites only. Newbies don't know all this stuff and login their private key anywhere, hence as a word of caution, Never give your private keys anywhere or to anyone no matter whomsoever they are.

Always worth repeating for newbies' sake, that's true!

[manuraj.m]

Thank you! As a beginner, it's very useful information