Reasons for newbies loss in bitcoin

[Connor Britton]

Because novices did not learn the knowledge of cryptocurrency when they first entered the cryptocurrency market, they will buy and sell their own tokens based on their intuition. Regardless of whether the team’s technology is mature or not, I believe some media, the media say they buy which currency is better, they will buy The coins recommended by the media are more greedy and want more.

[Tina H]

I personally think that there is another point, the loss of the private key. Although there are not many such people, it is easy for me to forget which of my many passwords is correct. Losing the private key means that your coins will be lost forever.

[Xinarae*]

The reason why newcomers are more vulnerable is because they have less knowledge about the market and after greed they trade overnight without checking anything to make more profit so after getting caught in a scam and losing everything they leave the market at some point. Greed throws them into the greater loss seeing the experience of others is the most terrible you have to use your own experience and understand the situation and invest.

[KeikoKitagawa18]

The reason why newcomers are more vulnerable is because they have less knowledge about the market and after greed they trade overnight without checking anything to make more profit so after getting caught in a scam and losing everything they leave the market at some point. Greed throws them into the greater loss seeing the experience of others is the most terrible you have to use your own experience and understand the situation and invest.

Most of them just following the trend and he's friend without knowing what they invested in. I believe most of the newcomers they don't know about what blockchain it is or something easy about crypto, when they loss their money they will cry and want to find someone to blame.

[awik p]

The reason why newcomers are more vulnerable is because they have less knowledge about the market and after greed they trade overnight without checking anything to make more profit so after getting caught in a scam and losing everything they leave the market at some point. Greed throws them into the greater loss seeing the experience of others is the most terrible you have to use your own experience and understand the situation and invest.

right, lack of knowledge and greed are the main reasons why many of them experience defeat. when bullruns many newbies enter the crypto market, and hope the market will continue to rise, so they lose logic due to lack of experience, and what happens instead they are floating minus, and finally panic sell

[Mistafreeze]

For a newbie to avoid similar mistake that had be done by past traders and investors, it is very important for a trader to look at previous market price and reaction of the market to see the kind of waves the entire market generate to make investors to forfiet their funds  by the use of fake news and rumors attracting negative mindsets to sell ones coins to the market. It will take time for this kind of psychological emotions to be built with time, creating a stronger resistance against negative feelings about the market.

Newbies need to be focused to avoid unnecessary loses. It's very important to ask questions about how the crypto market does it thing, not being idle and making a silly decisions that can be detrimental to one's investment at the long run.

[bitzizzix]

Why most beginners suffer losses, because they do not have good knowledge and understanding before doing it which is actually the main foundation before getting involved.
and besides following wrong recommendations such as news or anything that trusts too much information sources so that they choose the wrong investment instrument and cause losses, actually receiving input or reading information about various things related to investment is not wrong, but it's good to filter and digest and also compare any information for comparison before making a decision.
and only focus on profit without thinking about the risks that will be faced and will panic when the market is down and what to deal with, and will do things based on momentary emotions, such as making sales because of panic when the value drops below the price of the previously issued capital price .

[Cling18]

Greediness and aiming for too much is actually one of the common reasons why newbies are getting scammed. They easily believe in fud and false information because they didn't do full research about Bitcoin. We'll surely lose if we don't have complete knowledge about it. A proper mindset will also be a big help and we should keep in mind that crypto couldn't offer us instant success because it needs perseverance and patience.

[macson]

snip

i laughed when i saw a video title on youtube that said "Bitcoin is the fastest way to get rich overnight", i immediately wrote a comment "why are you cheating so many people".  it must be understood that Bitcoin was created to make you free from the bank even if you are rich from BTC then it is just a sweetener.

newbies who think Bitcoin will make them rich overnight when the price drops will immediately sell their BTC because they buy Bitcoin based on the words of the speculators.

[clint25n]

people who lose bitcoins tend to be novice businessmen who don't know how to store bitcoins in the right and good way, but I'm very sure they will soon understand about it which can give them experience for the future because of the effort and hard work they put in do we really believe we can afford for them to keep something of value for them in a very good way, maybe it's just a matter of time and communication

[Obito]

Standard reason that I can think at the top of my head is the fact that these so called newbies tend to just jump right in withlut prior knowledge besides the fact that there's money in crypto and they want a piece in it.

[vania vin]

So I ask why it is necessary to call beginners the target of mistakes as if they are beginners often doing careless things, as far as I know someone who goes down to the crypto world they first learn until they really understand and really believe that after that they spend money not as careless as you think.

[suzanne5223]

When you look at it, newbie lose basically because they don't know/understand what they're doing. The influence of the society is what is getting them into the industry. They don't want to be left behind so they fomo into the market which makes them so impatience that they want to make quick gains in the soonest time possible.

This ideas of becoming rich overnight makes them to become gullible as they tend to want to engage themselves in the trending tech not realizing that scammers are already leveraging to scam investors knowing there'll be new potential target in this new trends. Without understanding what the trends are they go in hoping to profit and come out (pump and dump) but majority don't succeed.

This might be a bad example but considered the success of dogecoin although it isn't something worth recommending to investor but those that took the risk and invested profited after it got pumped so now others (majority the newbies) are investing in the newly launched memes with the hopes of getting dogecoin type of success overnight which is where the scammers hiding behind the marks of founders arr ripping them off.

I supported what you said to be the basic reason why a lot of newbies lose in Bitcoin, they mostly believe Bitcoin to be a quick scheme and also a survivor from the economic meltdown situation especially the meltdown caused by COVID 19. However, the second thing that makes newbies lose in Bitcoin is the wrong article and misinformation influence Youtube videos they use as a guideline.

I'm lucky to have come to the right place when I was still a newbie.

[molsewid]

It was not a bad idea as it was a sort of motivation but the wrong is that they never have a good entry. Most of them never know what will be the best position to start investing in crypto, they just put their money without doing research, and losses will absolutely they will get in the end.

Honestly, it was not only newbie suffering like this, even old-timers make some losses because of the market volatility. Because even though we have knowledge in crypto space but it wasn't all the time the market is in good trend, and sometimes we make a wrong decision. Losses can't be avoided as it was a part of our journey here and if we are not able to cope up with this, we even lose more.

Here in our country once people heard that you dealt with bitcoin they think that you're already rich but they don't know that achieving this lifetime dream in bitcoin is not easy. Giving yourself a motivation that you will become rich in bitcoin is not bad however you must also do your part by equipping yourself with so much knowledge about crypto. The overnight wealth was possible only and only if a person already knows how to trade, how to read chart and have patience.

[john777francis]

people always miss out on the point of which crypto wallet to use.
you definitely need a reliable wallet like MNTG-wallet (https://monetasglobal.com/).
I mention them because of their highly secure encryption and decryption, their transparency while transacting and the fact you can trust on them

[AniviaBtc]

It is really not good to think bitcoin as a quick rick scheme that you only need to utilize when you want it.

Bitcoin needs knowledge, experience, and willingness so that you can make it grow and become successful with it.

Also bitcoin is risky when you don't know what you're doing and you don't know how blockchain technology and crypto works in the market.

[romero121]

It is really not good to think bitcoin as a quick rick scheme that you only need to utilize when you want it.

Bitcoin needs knowledge, experience, and willingness so that you can make it grow and become successful with it.

Also bitcoin is risky when you don't know what you're doing and you don't know how blockchain technology and crypto works in the market.

Majority of the people get into bitcoin just because it gives access to make money. Whenever one introduce bitcoin to a person who doesn't have any knowledge about bitcoin there arises a question. Why should I use it. For this the very first answer, you can make money.

Taking this into mind newbies think big and invest without learning or experimenting with small funds. This ends with loss and the same person describe bitcoin as the reason for his loss, but in reality his lack of knowledge and lack of understanding is the true reason for his loss.

[kakonlin]

Newbies lose in bitcoin because they are too greedy to buy bitcoins with all the money they have.  Then they are also impatient and easily panic when the price of bitcoin drops.  So they are afraid of losing more money.  Until they decide to cut loss.  In fact, when the price of bitcoin is corrected, we should buy it again.

[peter0425]

Bitcoin is becoming mainstream these days and top most choice for many investors for making investments and contribute a good portion of their portfolio allocation towards the same but still we see panic sell among these investors making the situations worse for market and for themselves also. So what are the main reason for these sell off ? Later on when they buy at peak and sell off at drop they think btc was not the right option for them but don't realize their mistake.Some common reasons for these are as follows:

1) People think Bitcoin as tool to become rich overnight

The main reason for people investing in bitcoin is that they see btc as tool to become rich overnight and according to them if they would invest $100 or $1000 in bitcoin it would be double or triple within days and when they see their investment going down next step they get nervous and want to safe themselves from any further loss.They see on news and article that btc is up 1200% this year and they think it will keep on rising and when this does not happen they panic sell and start dumping their coins.They need to be atleast have patience and know it will take certain time for btc to jump back.Apple,Microsoft and other shares have not make upto S&P 500 overnight but still bitcoin is keeping the pace very fast. 

If this is your first thought and belief in crypto specially in bitcoin then you are in wrong way, because this will end you losing all the time.

Bitcoin is the slowest moving coin and that cannot happen overnight becoming rich.

[dansus021]

The main reason is greed and stupidity combined with more money than brains.

Indeed this as the simple answer  and i will add one more they not yet learn and go all in in this industry


token nowadays is like shitcoin but with wrap of good coin so there is little of token that actually have real use case but there is bunch token that exist to make cryptohype

making crypto hype is good but in process to scam people and make ponzi scheme is bad, usually more than 50% token is going to developer pocket event tho is locked or vested more than a year after locked the dev will have the token again