Hello everyone! I'm a newbie in this forum, but I've done some research and would like to offer some advice to my fellow newbies. I am aware that I am open to correction and that I am not in the position to offer advice, but I believe that the following points will be of assistance to my fellow Newbies.
1. As newbies, Never respond to unsolicited messages from people offering you financial advice or any other form of offer; they are virtually always frauds, and if you respond, the con artists will find a way to convince you. Please make every effort to avoid strange messages..
keep using logic when you get an offer from someone who claims to be a fund manager / profit investment, they only use your money for their benefit, when you fall into their trap then in the future they will say about the risk of investment and your money is lost because investment is something at risk.
2. Newbie avoid day trading and mining Unless they have a thorough understanding of bitcoin, because Most people who engage in day trading, which are very professional also lose money and you cannot mine effectively with your PC and must get specialized ASIC rigs which very expensive, so as newbie stop thinking about mining.
why I don't like day trading, is because it takes a large capital to be able to profit and minimize losses, just like when became a miner now, it's very difficult to earn bitcoins (home miners) like when it was under 2017.
3. Make sure you have an emergency savings account for fiat currency in case any emergency demands arise before investing in bitcoin by conducting some basic research.
always remember that no one knows what will happen in the future, diseases come like thieves (unpredicted) so emergency funds must always be on standby and try not to disturb the bitcoin you hold.
4. When you first start investing in bitcoin, do not anticipate becoming wealthy within one to two months. Rather, you should wait one to two years before you even think of taking profit from it.
if you want to become rich from bitcoin overnight then don't be an investor, be a thief LOL. It's impossible to get rich quick when first investing in bitcoin, it's hard to control yourself.
5. Purchase Bitcoin and withdraw it to a personal wallet so that you may genuinely own it; never keep it on an exchange or web wallet. This is because exchanges are vulnerable to hacking and are not secure.
true, if you have a lot of bitcoins then you have to store them in a personal wallet (recommendation is a hardware wallet) which is safe, don't trust 100% of the security system of an exchange.
6. Pay close attention to backing up your wallet (the software that contains the key to your Bitcoins) and, preferably, keeping it offline in a secure area. Typically, you write phrases words, on metals, on a piece of paper and hide it in private places likey two places.
In addition, use a metal safe for extra security, because the safe is resistant to natural disasters.
7. Due to the fact that these tokens are scams, beginners should stay away from altcoins, tokens, and ICOs, at least initially until they understand more about Bitcoin basics.
Finding a successful ICO is now almost only 15%, you have to do a very deep research. deepening knowledge in bitcoin is much more useful, if you already have good knowledge in bitcoin then the opportunity to earn is very large.
8. Don't put too much pressure on oneself to know everything about the world of cryptocurrencies right immediately; it will take time to completely understand it. It takes time, effort, and continual learning to develop the full potential of your virtual money, whether you want to utilize them for trading or regular transactions.
Thia post is open for corrections from everyone in this forum, I will be glad if I have more corrections and guide.
stay humble, and keep asking questions that you don't really understand from seniors, this forum is the best place to learn and see how senior members continue to learn every day and share the knowledge they get. good luckk
