My new year advice to crypto newbies

[TinaK]

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8. Not all coins and tokens you hold will do well in few years time, the unexpected can happen to good projects with good utilities too

Bitcoin is totally different from altcoins or tokens, you can expect in holding bitcoin in a long term than the altcoins or tokens, it could be hype or under the pump and dump so we still are careful on it when it comes to investment. For less risk of investing in crypto, I think bitcoin is something reliable among them all which means less risk.

The overall advice is good and we do hope newbies will do take note of this very informative thread. It proves that a newbie should learn first before diving into crypto investment.

[StormHawk]

Every newbies heart is making money on the first day they know about crypto so it's a bad idea telling them to follow their heart they will eventually lose money, newbies should put aside investment first and learn and learn over again before even any practical, just my 2cent advice

[ranaprime]

Very good suggestion for newbies. I think these are also very effective advice. Most of us especially those who are novice in trading crypto they should learn from the mentioned topic.

[bhooscream]

1. It's always good to follow your heart and nothing else, struggle till you break through but always know your limit

This is the logical thing. Struggling but still considering our limits. Sometimes, newbies only focus on struggling their efforts in this crypto world without considering their limits and also ability wisely. This will make such nonsense struggles. Moreover if we don't have enough knowledge to struggle.

4. Crypto can make you rich overnight or even make you more poorer that's why you need to learn first before jumping into any crypto investment.

For some newbies, crypto will not e able to make them rich overnight, but it can make them poor overnight. Being rich overnight is very possible but done only by specific people with common professionalism.

9. Use crypto hypes to your own advantage, the trending use cases always bring profits more than utilities that aren't trending presently

For newbies, I will suggest you not to be closed with new hype tokens. commonly newbies will not know the right time to enter the market when buying hype tokens. commonly they will buy when the price has been in the hype and consequently the price will drop and they are lost.

[Lordhermes]

My new year's advice to crypto newbies is to always research more,read more, learn from their previous mistakes and the mistakes of others,look for the best strategy to use in trading because strategies needs to be dynamic in other to work.

Don't be afraid to take risk,because taking risk is part of human,and it's only brave people that takes risk.
It is the amount of risk you take that determines the level of your success.It only taking calculative risks that can take you from one level to another.

[ice18]

1. It's always good to follow your heart and nothing else, struggle till you break through but always know your limit

I dont think following your heart into crypto investment is needed, you just need a lot of research on coins you are going to invest, think 100x before buying and spending your hard earned money in crypto, the most obvious mistake I can see on newbies is "FOMO" please there are no instant money no hurry you can't be a millionaire in just a day in crypto unless your a scammer/hacker. Lastly a simple word means a lot to every newbies who wants to enter crypto be "patient".   

[Alisha-k]

1. It's always good to follow your heart and nothing else, struggle till you break through but always know your limit

2. There is something that's more powerful than we humans and that's our fate, not everyone will get rich even if they struggle all the days of their life, things will surely get better but not everyone will achieve their aims as they wanted.

3. My advice is start from somewhere and move up step by step, do not rush and do not find short cuts

4. Crypto can make you rich overnight or even make you more poorer that's why you need to learn first before jumping into any crypto investment.

5. Risk only what you can afford to lose and avoid staring at your portfolio when they are at a very high value, they won't stay the same for long so you are expected to take profits

6. Don't be scared of bear market they are a blessing in disguise, it's always a time to buy when they come around

7. Don't become a holder if you can't even feed yourself daily, you need a job more than becoming a crypto holder, holders must have other means of making money so they can hold with ease

8. Not all coins and tokens you hold will do well in few years time, the unexpected can happen to good projects with good utilities too

9. Use crypto hypes to your own advantage, the trending use cases always bring profits more than utilities that aren't trending presently

10. Apart from crypto forums that hold answers to how to start your crypto journey 99% of PM from strangers are advantage takers, they are there to use you or Rob you don't give them a chance


Finally coinmarketcap and coingecko are 100% accurate when it comes to finding the official website of a particular token or coin, all information are legit 100%, this is a perfect way to avoid fake project groups or fake tokens smart contract

never relent, the journey to financial stability and freedom has never promised to be a sweet ride, they'll be lots of pressures, a few loses but you can do better if you work harder, the success of your tomorrow isn't measured by how many failures you've had today, but it's measured by the quality of the decisions you took while failing.

Be guided and never get tired of asking questions where ever you find difficulty in understanding.

[Alisha-k]

My new year's advice to crypto newbies is to always research more,read more, learn from their previous mistakes and the mistakes of others,look for the best strategy to use in trading because strategies needs to be dynamic in other to work.

Don't be afraid to take risk,because taking risk is part of human,and it's only brave people that takes risk.
It is the amount of risk you take that determines the level of your success.It only taking calculative risks that can take you from one level to another.

sorry to oppose you OP, but I do not think that the amount of risk one takes determines the level of his success, one could take hundreds of risk and still not achieve up to what a person who took just 1 risk had achieved.
While taking risk, be calculative enough to know the chances you have.
It's in the quality of  decisions you make and not the number of risk you take.

[Rengga Jati]

1. It's always good to follow your heart and nothing else, struggle till you break through but always know your limit

Actually, it is not only about following our heart but also our logic based on some analysis to be considered. Only following our heart without any logic and analysis will commonly drive us to use only our emotional decisions. But, for the case of knowing our own limit, I exactly agree with that.

4. Crypto can make you rich overnight or even make you more poorer that's why you need to learn first before jumping into any crypto investment.

For now, I can't believe this because people need to work very hard and we always see their success shortly, whereas they have been doing and struggling for many times ago, but seen as an overnight achievement. Just do what we can do and struggle maximally, learn anything that will be worthy for us in during crypto activities, moreover about the thought of being rich overnight, put aside that thought and focus on your way, not what other people achieve. Every achievement needs a process and you also need to do those processes. You may get rich because of crypto but on the other hand, you may also be poor enough because of crypto. Be wise and smart enough.

[Odusko]

Nice write up,thanks for your advice, I think it will be good for newbies like me to learn all aspect of bitcoin before dive into trading in order to avoid mistakes, you can learn from other peoples experience,don't wait till you make mistake before you learn,don't be too greedy to invest much when you are a beginner ,you can start gradually and progress because price of market is not stable.
My regards
Odusko.

[7deadlyBTCIN]

Cryptocurrencies is not about following your heart it is about following your experience

Some people rush by buying some altcoins that become shit coins, we should avoid shit coins.

Bear market is when to invest, why should people be scared, but some new people will be scared of the bear market but buying when the price has gone high that caused them to panic sell as the price decrease.

Some coins and tokens may remain shit coins forever, some are dead.

Finally coinmarketcap and coingecko are 100% accurate when it comes to finding the official website of a particular token or coin, all information are legit 100%, this is a perfect way to avoid fake project groups or fake tokens smart contract

But they list some shady exchanges, we should not depend on them to look for good exchanges, we can use them to start the research and individually research more about each exchanges online to know if they are good or shady.

You need to make up your mind first even if you have any experience, to learn a new thing you need to make up your mind that you really want to learn something and that's the first breakthrough, mind works for to put any experience in action that's why I said follow your heart, I found my way when I stopped following people's opinions, I found my capability using my own way cos I follow my heart

Nice write up,thanks for your advice, I think it will be good for newbies like me to learn all aspect of bitcoin before dive into trading in order to avoid mistakes, you can learn from other peoples experience,don't wait till you make mistake before you learn,don't be too greedy to invest much when you are a beginner ,you can start gradually and progress because price of market is not stable.
My regards
Odusko.

You are welcome odusko, remember you are you find your own way yourself, just because you can learn from others doesn't mean you should follow same path as theirs, crypto space is full of opportunities you need to be different and you will see things more clearly

[moderator's note: consecutive posts merged]

[Rockstarguy]

You have just made a good point about cryptocurrency can make someone rich over night and  also can make one loss all overnight.  Newbies needs to always understand this concept about cryptocurrency. Newbies must also try their best to learn before thinking of earning, learning builds a solid foundation.

[Trojane]

Life is a very complicated procession; they're other people out there that will have these advices as thoughts in thier minds already but will still thing it isn't relevant or he's gonna be careful whenever he's doing something that goes to the contrary of his thoughts, but he messes up everything at the tail end just like what he was avoiding previously
 These should be modified and made as an important and compulsory thread to read for newbies.
 Diverse things are happening to newbies in crypto everyday because of thier ignorance; this word is not an excuse ..for the ones that have been dubbed already, lessons learnt are very imperative: for the ones that are not dubbedz BEWARE!!