Newbie Come to Crypto What they should do first?

[deean_3one]

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

The first thing you should understand in buying coins now is not to depend on other people's advice but rather your own research on all the coins you like.
Well for now it's actually a little different when you look at the benchmarks in the top ten coinmarketcap because the residents of the top ten cryptocurrencies are now new coins that have been created very successfully. And for my personal advice, try buying Solana, Ethereum and BNB if your friends can't afford Bitcoin.

I agree with this comment. Yes, we should do is learn to analyze the coins that we will invest in. Don't depend on anyone else. I've experienced this, when I was new to crypto I always asked friends for recommendations for investments. However, several times I invested it turned out that the coin was not profitable. I feel sorry because the coin I chose turned out to be better but because of lack of confidence I undo the intention to invest with my select coins.

[asriloni]

If you have been active in crypto since 3 years ago and why don't you just suggest your friend. Just give him more knowledge about crypto and you must give him an advice to learn more before try to invest in the crypto. He was a newbie and he must understand about the crypto market. There are so many scam tokens in the market and he must also understand about how to identify this shit scam token in the market.
I think that you can talk with him about that and remember that we have top 200 coins that look promising right now. that's the best thing that you can suggest it to him.
Let him to do his own research and he will be also getting more knowledge about crypto. Stick into the top 100 - 200 are the best choices.

[Jackl87]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

If a friend, that has no idea of cryptos whatsoever yet but wants to make his early investment in the cryptospace, is asking you what he should do now or what coin he should buy then i think it is always important to check first, what he is hoping to achieve with his investments. Does he want to invest money because he does not get any interest on the bank but he wants to make a relatively save investment? Then i woudl go for the big and already established coins like Ethereum, Solana, Cosmos, Polkadot or even Bitcoin there the risk of a total loss of your investment is very small in my opinion. If he wants to go for possible very high returns, then you should make him clear that it is very much possible that he will lose his investment and then you can pick one of the newer but promising projects.

[Sarah Azhari]

If a friend, that has no idea of cryptos whatsoever yet but wants to make his early investment in the cryptospace, is asking you what he should do now or what coin he should buy then i think it is always important to check first, what he is hoping to achieve with his investments. Does he want to invest money because he does not get any interest on the bank but he wants to make a relatively save investment? Then i woudl go for the big and already established coins like Ethereum, Solana, Cosmos, Polkadot or even Bitcoin there the risk of a total loss of your investment is very small in my opinion. If he wants to go for possible very high returns, then you should make him clear that it is very much possible that he will lose his investment and then you can pick one of the newer but promising projects.

yes I told him crypto has the risk which can be losing money. he was invest the money in bank called deposito (staking) but he get in low profit each month then he remembered me 3 years ago was invest crypto with high return because of that he ask me.

[xSkylarx]

If a friend, that has no idea of cryptos whatsoever yet but wants to make his early investment in the cryptospace, is asking you what he should do now or what coin he should buy then i think it is always important to check first, what he is hoping to achieve with his investments. Does he want to invest money because he does not get any interest on the bank but he wants to make a relatively save investment? Then i woudl go for the big and already established coins like Ethereum, Solana, Cosmos, Polkadot or even Bitcoin there the risk of a total loss of your investment is very small in my opinion. If he wants to go for possible very high returns, then you should make him clear that it is very much possible that he will lose his investment and then you can pick one of the newer but promising projects.

yes I told him crypto has the risk which can be losing money. he was invest the money in bank called deposito (staking) but he get in low profit each month then he remembered me 3 years ago was invest crypto with high return because of that he ask me.

Because staking is a passive source of income, he should be not complaining that the rate is too low, given that he is making a profit. Investing in cryptocurrency is not easy because you will get scammed. Usually, you should get into the top 10 currencies because they are the best and, in my opinion, the safest to invest in. If he wants to invest in a new cryptocurrency, he should first read their website, whitepaper, roadmap, and also the community because you can easily distinguish what is scam and what is not.

[Anguwa]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

If you're new to cryptocurrencies, I recommend learning the fundamentals of key and address, deciding which wallet is best, and learning a little about several crypto exchanges so you know where to purchase and sell your coins. Then, before investing in them, further research the crypto coin of interest, get to know the investors if feasible, and get a sense of the project's roadmap.

[CryptoATM]

1. They should never buy coins because people tell them to.
2. They need time to learn about crypto, crypto security and it's wallets.
3. Learning how to trade is another thing entirely, will take time to understand.
4. Erase any haste in your mind.

[redsun114]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

You start your journey on crypto 3 years ago and I think coinmarketcap that time is not popular as today but good for you that you found that site. Coinmarketcap is indeed useful because they display the coins information and other stuffs. Your not new here anymore so your knowledge in crypto have also evolve and you now have an idea with both new and old coins but you can recommend old coins because you are more familiar with it.

When I first started here, the first site I go to is of course google because I don't know any crypto sites at that time and then bitcointalk is the site that came on top of my search. I was surprised how good this site was.

[bitbollo]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

You must learn what is bitcoin / blockchain before make any investment.
You need to understand what is this technology and why this is something that goes beyond what we have seen in human history.
I have described here:
https://www.publish0x.com/bitbollo-cryptocurrencies-blog/a-depth-analysis-of-bitcointalkorg-speculation-thread-the-ne-xpnnjwq
how much is difficult at the end made the right decision when pick up an altcoin... just because in a long term view 65,4% have realized a negative outcome! Even if these are good ideas, even if there was a massive marketing behind.
Meanwhile HODL bitcoin is the right and simplest decision... a "safe" decision!

[Sarah Azhari]

If a friend, that has no idea of cryptos whatsoever yet but wants to make his early investment in the cryptospace, is asking you what he should do now or what coin he should buy then i think it is always important to check first, what he is hoping to achieve with his investments. Does he want to invest money because he does not get any interest on the bank but he wants to make a relatively save investment? Then i woudl go for the big and already established coins like Ethereum, Solana, Cosmos, Polkadot or even Bitcoin there the risk of a total loss of your investment is very small in my opinion. If he wants to go for possible very high returns, then you should make him clear that it is very much possible that he will lose his investment and then you can pick one of the newer but promising projects.

yes I told him crypto has the risk which can be losing money. he was invest the money in bank called deposito (staking) but he get in low profit each month then he remembered me 3 years ago was invest crypto with high return because of that he ask me.

Because staking is a passive source of income, he should be not complaining that the rate is too low, given that he is making a profit. Investing in cryptocurrency is not easy because you will get scammed.

Staking in bank is save than when he invest in crypto but, in crypto he can make over 100% return when invest in correct token

3. Learning how to trade is another thing entirely, will take time to understand.
4. Erase any haste in your mind.

3. that is a problem too, he don't understand trading and market work
4. he can't erase it when hear everyday people got profit in crypto

[ItsNotSean]

The first thing to do is LEARN. The more time you invest in cryptocurrency  and blockchain education, the better your financial  decisions  will be. Those who go in without proper research and understanding are almost guaranteed  to lose most of what they invest.

A cheap and easy way to start is with the website: https://www.DANTeachesCrypto.com

It is provided free by "Digital Asset News" YouTube channel. All they require is registration with a valid email address.

I came to crypto with 10+ years of financial and programming experience, and still wasn't sufficiently comfortable with my understanding after 20+ hours of research and study.

It was a few months of research before I felt comfortable enough to know how to protect my computers and devices; which wallets and tools to use; how to handle my backups; whether to mine vs. buy, etc.

But the real research goes into figuring out which projects you should invest in. And in that regard, that is a lifelong commitment.

Asking a question on a message board, reading a few tweets, or listening to a video is something you can do AFTER you get an understanding of the space.

[diminizio]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

The basis of cryptocurrency is bitcoin.
maybe explain the basics of bitcoin make your friends understand how it is cryptocurrency.
Explaining all cryptocurrencies in detail is impossible even if we ourselves have taken years to fully understand it.
Just make sure, at least tell your friend that cryptocurrency is a high risk investment and teach him about a bit of cryptocurrency scams.
It's a shame, every time someone who just entered cryptocurrency they always came out crying,
losing their assets because they were lost when investing.
when you say your friends want to know about cryptocurrencies I think introducing the risks is very important.

[ItsNotSean]

3. Learning how to trade is another thing entirely, will take time to understand.
4. Erase any haste in your mind.

3. that is a problem too, he don't understand trading and market work
4. he can't erase it when hear everyday people got profit in crypto

No newbie should try trading. Crypto is the Wild West, and professional traders and hedge funds with billions in capital behind them make killings off of little guys roaming out into the badlands.

On top of that there is no end of scammers, con artists and hackers out there promising the moon just to get newbies trust. The greedier the crypto "investor", the greater the chance of losing everything.

To be honest, your friend sounds like he is on the fast track to getting cleaned out. The best you can do now is put all your advice and warnings in writing and in an email. So when he loses everything you can say "I warned you man!" and point to the email.

In personal finance or tech, when people get cleaned out or hacked, they always release hell, vitriol and/or lawyers on the poor SOB who got them into it. They almost NEVER own up to their own mistakes.

[SyndicateLabs]

There are many new types of access to this market, and I see mostly young people who are passionate about technology or those who are interested in finance and crypto as a real opportunity. Lots of theories to start with. Try to find out the origin of history, blockchain technology, ... equip with good background knowledge so as not to be surprised by the concepts. Then you can experiment with small trades, then learn the forms of transaction analysis, project signal analysis,...and always have a comfortable view of this market. Do not rush to act.

[rahmad2nd]

Because staking is a passive source of income, he should be not complaining that the rate is too low, given that he is making a profit. Investing in cryptocurrency is not easy because you will get scammed. Usually, you should get into the top 10 currencies because they are the best and, in my opinion, the safest to invest in. If he wants to invest in a new cryptocurrency, he should first read their website, whitepaper, roadmap, and also the community because you can easily distinguish what is scam and what is not.

Staking is good thing for newbie because they have passive income on every month without have to care and checking market which one coin have to buy, but still not guide when choosing right coins for staking. Some investor just interested only with coin staking by giving higher APR reward without see how much coin supply, how many exchange listing and do not know about potential or not before staking. I see most stable coin for staking right now is SFUND because have stable price and worth for one year staking with APR 75%, you can unlock or unstake coin when do you want without waiting one year period.

[Kocret02]

The first thing he should do is learn how cryptocurrency works. simply put, he should first invest in knowledge before investing in any coin, if not, he will run away when he encounters a challenge. Right now, even an OG is finding it difficult because of the numerous projects out there, let alone a newbie.

That's right, everyone really needs to seek knowledge first before looking for which coin is suitable for investment, because without good and a lot of knowledge, everyone will regret it more easily when he starts to experience big losses after choosing coins in a hurry.

[LastKiss]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

Already in the crypto space for 3 years you should be able to give some advice to your friend about the market volatility, how scammers scam us, and where to find the best coin in this crypto market. Don't let your friend who is willing to learn about cryptocurrencies but got scammed right away because we can't guide our friend properly. There are a lot of coins you can find right now but the best coin? You will find a few of them.

[FanEagle]

First of all do not spend any money on anything on your first month. No matter how much you want to, do not spend any money on anything on your first month. What you should do however is to make sure that you are doing the right thing by learning first. Start learning how people trade, why they are suggesting something and where did they found that.

Someone could say you should buy x coin, but figure out why they are saying that, not just why the project itself is good or bad, but how come they picked x and not y, and if they come up with a reasonable and logical argument that is based on data, then take that data, if it is more like "they are hardworking team and I believe they will be number one in this nice!!" type of hype man, then ignore them, it needs to be backed by some data to provide a useful understanding, nothing that lacks the money side of it, deserves your money.

[Yacht_X_Coin]

Staking offers passive income, but it is very important to check how useful the project is, what products it offers and how useful it will be in future.
Blockchain technology can be used for different purposes, for example to safe the planet from climate change https://twitter.com/ClimeToken/status/1498942071658405888
And only you can choose what purpose is more suitable for investment.

For staking it is necessary to choose cryptocurrency that will be useful and prospective in future that price of the coin will continue to rise in future.
Now many people understand how it is important to protect the nature.

[Teknisi88]

I don't know which others, when i come first I look at coinmarket cap and learning a detil the coin I want to buy.

My friend ask me, what coin he should buy , but I not really sure for now because I'm entering cryptocurrency 3 years ago. Too many coin right now that make me confusing

I think 3 years is not a short time to learn about coins. should be able to know the details of the coins he will buy. and also have to understand the criteria and conditions of a coin.