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Author Topic: What is the one thing a newbie should avoid?  (Read 152 times)
Impulseboy
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July 18, 2018, 10:28:20 AM
 #1

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?
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July 18, 2018, 10:41:59 AM
 #2

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.
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July 18, 2018, 10:48:20 AM
 #3

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?

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

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July 18, 2018, 02:19:06 PM
 #4

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.

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July 18, 2018, 02:45:11 PM
 #5

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.

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July 18, 2018, 04:36:11 PM
 #6

Avoid day trading ^^ better invest on a long term  period  when you began ,  its safer and better for  your mind ^^
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July 18, 2018, 06:49:34 PM
 #7

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?
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.

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July 18, 2018, 06:51:14 PM
 #8

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!

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July 18, 2018, 08:00:43 PM
Merited by suchmoon (7)
 #9

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.

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July 19, 2018, 07:20:37 AM
 #10

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!
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July 19, 2018, 08:41:08 AM
 #11

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

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July 19, 2018, 08:54:01 AM
 #12

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.

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July 19, 2018, 08:58:02 AM
 #13

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?

I think Get knowledge is the basic thing which most newbies ignore. Sad
Impulseboy
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July 19, 2018, 09:01:15 AM
 #14

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

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?
Impulseboy
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July 19, 2018, 09:05:32 AM
 #15

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.

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?
Davil
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July 19, 2018, 09:06:11 AM
 #16

    • Technical analysis is financial astrology.

    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...

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    July 19, 2018, 09:11:02 AM
     #17

    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?
    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.

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    matthew1981
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    July 19, 2018, 02:39:48 PM
     #18

    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?





    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
    Discoperi
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    July 19, 2018, 04:39:06 PM
     #19

    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.
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    July 20, 2018, 12:00:32 AM
     #20

    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?

    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

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