Useful tips I've learned so far, might come in handy

[coolon]

1. Nothing is certain in crypto space
2. Learning is the easiest way to get by
3. Analysis is the best tool for more knowledge
4. Don't hold new altcoins and stay offline, they need close watch
5. Diversify your money, do not rely on few altcoins and don't have too many, watching them will be an headache
6. If you are new and in rush to see how crypto works start with Bitcoin and Ethereum.
7. Take profit when you see one, don't be too greedy

I fully agree, especially with the last point. I've lost money so many times for greed. When I analyzed the take profit, I see that the price reaches it, but I hope that the price will go further and do not sell, and as a result, the price falls even lower than I bought. This is very offensive don't be greedy!

[Krislaw]

1. Nothing is certain in crypto space

I've learned this a long time ago. You can't rely on the current situation of what you're benefiting from. You need to explore new things.

4. Don't hold new altcoins and stay offline, they need close watch

Better not buy into new coins and start to monitoring for highs/low when you could spend less time on top coins with potentials.

7. Take profit when you see one, don't be too greedy

For me, I take profit whenever I see. 1% profit on an asset is something. Waiting for big profit is greed which must be worked on at early stage.

[masulum]

I'm sure 90% of newbies will choose to invest in altcoin still even if they have Bitcoin, every one have the dream of catching gems while they are still young you know, I'm hoping the same thing too that's why I have few altcoins in my wallet

This is one of the mistakes that is often made by newbie. They are trapped in the desire to get a lot of profit from altcoin. I did that a few years ago, there was no bitcoin, I chose 5 altcoins, all of which were altcoins in the top 50 CMCs (because I used to depend on ranking on that time), the result, my lack of knowledge made me lose a lot of assets when prices all coin plunge. Since then, I think diversifying with altcoin in order to pursue high profits will make us enter into the "greedy" trap as mentioned by the OP. So, choosing coins that are safer and stable/fiat is the best for me. However, if you think you are investing in all altcoins to find diamonds, that's no problem, we have our own views. DYOR

[Yamifoud]

These are very useful tips, in general. All of them are connected to each other from 1-6, but there is something special to number 7 which is somewhat I felt during the last 2017 Bullrun. Too much optimism and confidence that the market will continue to rise that even though I already have doubled my profit still I didn't sell my holding but rather to hold it. Something that I miss about and absolutely a regrettable moment. I lost that opportunity and that for sure it won't come back. Felt that I was greedy at that time and that is also the reason why many crypto holders are often to lose.

Now that we are in uncertain, it could be better to take every chance we have even though it was just small. We should also have to be contented enough in small things not only for the big one.

[Lordhermes]

Analysis gives you guidance in selecting good project when trying to participate in token sales. Keep watch and proper research will really hit you up to where you want.

5. Diversify your money, do not rely on few altcoins and don't have too many, watching them will be an headache
6. If you are new and in rush to see how crypto works start with Bitcoin and Ethereum.

Diversification helps sometimes, many altcoin that should be watched are the ones already have based and volumes and listed on high liquidity exchange.
Additionally, not only Bitcoin and Ethereum should be coins on watch by newbies, coin developments, adoption, and many features should be indicated as a symbol of watch and working principles of coin.

[KrisAlex18]

You have said it all correctly, for all the beginners out there if you want to be more knowledgeable about cryptocurrency, you should be patient and hardworking, you should always keep learning and always think that you should learn new things, life changes, technology changes and we should keep learning to adopt all these changes, if you want to be a good bitcoin you have to gain more knowledge, always keep on learning, this forum is good for you to gain knowledge, just read an understand all the quality posts here.

Do not fall in trap for some extra percentage of profits shows or something which is unbelievable are generally the trap. So, avoid such situations. Trade only on the best exchanges and which are old. If invested for the long term, then better to store the coins in offline and not on online exchanges. Never share your passwords or private key with anyone other than your spouse, kids, etc as a backup in case if anything happens to you, they can still own it.

Indeed, those things that offer too much is somehow related to scam, they are not telling the truth so don't believe them, there are always things happen like that, be vigilant.

[Harlot]

These are very useful tips, in general. All of them are connected to each other from 1-6, but there is something special to number 7 which is somewhat I felt during the last 2017 Bullrun. Too much optimism and confidence that the market will continue to rise that even though I already have doubled my profit still I didn't sell my holding but rather to hold it. Something that I miss about and absolutely a regrettable moment. I lost that opportunity and that for sure it won't come back. Felt that I was greedy at that time and that is also the reason why many crypto holders are often to lose.

Now that we are in uncertain, it could be better to take every chance we have even though it was just small. We should also have to be contented enough in small things not only for the big one.

There is a good chance that aside from being greedy you may have also fell in the hype of what you are seeing with the news as well as the FOMO happening in the market. For newbie traders as well as newcomers they will always be optimistic when it comes to buying and holding their crypto assets as this is there chance the grow but the wrong thing about this is they lack the analysis and research needed to see if their goal is still possible at that moment or there is just reaching it with their imaginations. If you trusted what others are saying and didn't do anything to back it up then it is your fault, maybe you should learn from it since this was really a big opportunity to be wasted during that time.

[pixie85]

7. Take profit when you see one, don't be too greedy

This is very hard to control. Over the time one can learn but with lot of practice.

It's a pretty random advice if you ask me, especially if a newbie follows it to the letter. He invests 100 USD in his favourite coin, the coin goes up 1%, he takes profit and gets 1USD. The next hour the coin goes up another 5% which isn't uncommon especially for altcoins. What next? Go back in? Do nothing?

Most of the time by taking small profit you are only covering the exchange fees.

[gentlemand]

It's a pretty random advice if you ask me, especially if a newbie follows it to the letter. He invests 100 USD in his favourite coin, the coin goes up 1%, he takes profit and gets 1USD. The next hour the coin goes up another 5% which isn't uncommon especially for altcoins. What next? Go back in? Do nothing?

Most of the time by taking small profit you are only covering the exchange fees.

Buy into fear. Sell into euphoria. That's what I'd do if I could. I have been strangely unable to do so so far.

You'll always miss out on the peak. The ones that do manage it didn't know they'd done it.

It's better to set yourself a target and get rid when it hits that target. If you're reluctant to sell then you have set the wrong target. I have a few shitcoins that have been languishing forever. There's a good chance they'll reach much higher than their previous peak some day. I don't care. I have a target and the fucking things have made me wait long enough so off they'll go at the right moment.

[Zotak337]

1. Nothing is certain in crypto space
2. Learning is the easiest way to get by
3. Analysis is the best tool for more knowledge
4. Don't hold new altcoins and stay offline, they need close watch
5. Diversify your money, do not rely on few altcoins and don't have too many, watching them will be an headache
6. If you are new and in rush to see how crypto works start with Bitcoin and Ethereum.
7. Take profit when you see one, don't be too greedy

Good points pal, new altcoins are too risky to just lock away and go back to living your life, any thing can happen at any time, it's better to use apps like blockfolio to keep tracking the altcoins you holding just in case