My Bitcoin Advice for newbies

[Ojima-ojo]

Within the last one year of my presence here on Bitcointalk and with the level of contributions and help I have gain in the last 10 months here in the forum, and just a few steps away from becoming a senior member, I deem it fit to drop my view and advise to newbies looking to grow the knowledge and financial stability through Bitcoin investment.

1: First newbies, please don't be deceived, bitcoin is not a
    get rice scheme and at that the real riches of Bitcoin is
    I'm your knowledge and not the amount you are aiming
    to accumulate over time, so you may have the capital to
    buy Bitcoin but if you don't have the right knowledge you
    can still lose everything, you can see that from the
    experience of those who stored their Bitcoin on
    exchanges such as FTX and the rest of the other crashed
    exchanges.

2:  Be ready to wait for God know how long, Bitcoin
     shouldn't be taken as an ASAP investment allow time to
     pass give your Bitcoin a long period of time, take your
     lesson from those who bought Bitcoin in the early days
     when Bitcoin price was in the range of cent and $1 and
     locked the Bitcoin away for long and now they call
    whales so they patience paid off give your Bitcoin a long
   time-spacee to mature.

3:  Dont hold alternative cryptocurrencies for the long term
     and if you must own them just know you are just
     gambling with your money, because they can go
     from100 to 0, so altcoin is worthless for the long term.

4: In your quest to make a few bulls from bitcoin trading
   don't trade a bit of what you have not built knowledge and
   trading skills because that is what will facilitate your
   profits in trading.

In conclusion, Newbies take this forum seriously and after you have read the rules of the forum, also take time to read about wallets and wallet securities don't trust anyone on the Internet.

Bitcointalk is a free discussion forum made up of members with a wealth of knowledge and the only price you must pay to gain your freedom is to keep reading and comparing knowledge make your personal research and draw your conclusion in line with acceptable data and codes.

[RILWAN]

Congratulations in advance as you made your way to becoming a senior member in this forum haven't gained the required activities with some merits left, I share from this your experience and the advice is not only for newbies but even for old members like us can share in the implementation.

[Doan9269]

Snipped

In other words, we are the first representation of bitcoin to others because they see us and through what they see makes them to believe that bitcoin is real at first, secondly we need to make efforts in helping them to understand the primary things about bitcoin and how an average person can take good advantage from investing it, bitcoin shouldn't be what people will be scared about who will teach them how to understand it.

[aysg76]

1: You can see that from the
    experience of those who stored their Bitcoin on
    exchanges such as FTX and the rest of the other crashed
    exchanges.

The first rule of investment also says invest in those assets of which you have knowledge about or if not gain knowledge for them and then invest your money into it.Those people who ignore it invest in hope to earn some quick profits but when it's not happening they start panicking calling it scam or ponzi selling their coins which is a mistake.

Secondly the biggest issue is keeping your funds on these CEX who are in actual possession of your keys through which they can easily spend your funds so you are not owning any bitcoins if they are on CEX so take it out and store them on hardware wallets or non custodial wallets like Electrum with safety of your seed phrases.Learn more about wallets here

3:  Dont hold alternative cryptocurrencies for the long term
     and if you must own them just know you are just
     gambling with your money, because they can go
     from100 to 0, so altcoin is worthless for the long term.

On the contrary I would say if you are newbie then investing in shitcoins is the biggest mistake you will make in hope of diversifying your portfolio because bitcoin is the only best option for you while those altcoins are pump dump scheme to make profits for the whales only.You can check on CMC how top-10 have changed instead of bitcoin which remains always at the top.The main reason behind it there's no utility for these altcoins so no long term price surge but if you can trade it short term you can give it a shot but as newbie stay away from it.

[Ojima-ojo]

On the contrary I would say if you are newbie then investing in shitcoins is the biggest mistake you will make in hope of diversifying your portfolio because bitcoin is the only best option for you while those altcoins are pump dump scheme to make profits for the whales only.You can check on CMC how top-10 have changed instead of bitcoin which remains always at the top.The main reason behind it there's no utility for these altcoins so no long-term price surge but if you can trade it short term you can give it a shot but as a newbie stay away from it.

Altcoin is not an option for a newbie, it is less risky to start holding Bitcoin before gaining knowledge but one can not take such risk on altcoins, and in the best interest of your investment bitcoin should be taken as a long-term investment.

Don't hold Bitcoin for the short term unless your are using Bitcoin to carry out daily transactions, such as paying bills, but if you are looking to make your savings in bitcoin, you must be determined to hold for at least 5-6 months and one year respectively.

[KingsDen]

1: First newbies, please don't be deceived, bitcoin is not a
    get rice scheme

No matter how long this advice is sounded in the ears of the new commerce they will also have the mindset of getting rich quick through Bitcoin.
There are some mistakes that are inevitable for newcomers and they would not rest unless they make the mistakes themselves. Learning from other people's mistake is something that doesn't happen often with new commers.

Most of the people that leaves cryptocurrency space disappointed are people that were supposed to get rich quick within the few months of getting into Bitcoin.
I always tell the newcomers that those who became super rich through bitcoin are few of them that adopted bitcoin when it was worth nothing.
For now you cannot make big fortune through bitcoin unless you are ready to invest a huge amount of money and wait for the minimum of five years

[CryptoHeadlineNews]

You did actually made some good points, because as the day goes by so are more people getting to know about Bitcoin, and it is our sole responsibility to guide them the same way we were guided as a newbie. So haven said that I will like to add to your advice for Newbies.
1. Never you store the seed phrase to your wallet carelessly because that's the key to your fund.

2. Never you think ranking up on this forum is something impossible because if Mr. A, B, and C could do it, same way can you too, but only that you just have to press the right button (I.e do the right thing while posting quality contents), and you shall definitely find success.

[ajiz138]

Reading more beginners will get better answers of course from us giving advice and also learning to them as beginners only guidance is given how to introduce bitcoin and others about trading as well as investing on the other hand there are additional ways to protect assets in this forum already available just go to search they will find it.

1. Never you store the seed phrase to your wallet carelessly because that's the key to your fund.

This is important especially when it comes to assets, so they should be able to keep the seed phrase as a private key securely in place and only the only one who knows the safe friend is one more never save on an exchange because it is high risk it is better to store in a non-custodial wallet.

2. Never you think ranking up on this forum is something impossible because if Mr. A, B, and C could do it, same way can you too, but only that you just have to press the right button (I.e do the right thing while posting quality contents), and you shall definitely find success.

If other people can rank up why can't we? Of course, beginners have to learn a lot, of course, about how to improve in forums, especially in posting contributions. I'm sure they can do that as long as they really want to pursue it and implement it.
There are many threads about how to rank up, of course accompanied by quality posts.

[omgitsmehehe]

Altcoin is not an option for a newbie, it is less risky to start holding Bitcoin before gaining knowledge but one can not take such risk on altcoins, and in the best interest of your investment bitcoin should be taken as a long-term investment.

Don't hold Bitcoin for the short term unless your are using Bitcoin to carry out daily transactions, such as paying bills, but if you are looking to make your savings in bitcoin, you must be determined to hold for at least 5-6 months and one year respectively.

Bitcoin is a top project in the market and it have high volatility which results to the massive dump and pump if the market. I'm holding bitcoin with my ultimate goal to allow it to make a bull run up to $100k. Patience is highly practiced when dealing with bitcoin, it's either you make profits or loss, each action will be triggered. Bitcoin can take up to a year before it pumps, there's more chances to pump when the bull season comes, but presently the bear market is everywhere.

[martyns]

You did actually made some good points, because as the day goes by so are more people getting to know about Bitcoin, and it is our sole responsibility to guide them the same way we were guided as a newbie. So haven said that I will like to add to your advice for Newbies.
1. Never you store the seed phrase to your wallet carelessly because that's the key to your fund.

2. Never you think ranking up on this forum is something impossible because if Mr. A, B, and C could do it, same way can you too, but only that you just have to press the right button (I.e do the right thing while posting quality contents), and you shall definitely find success.

You are very right mate,ranking up seemed like a problem to me before when I was still a newbie,I looked out for merit for some periods of time,and I wasn't seeing it,untill I discovered that the best way to get merited in the forum is through constantly and consistently making quality posts  without expecting merit from anyone.When you expect much,you get less,but when you expect less,you always get much more than you ever expected.
Always concentrate on making quality posts and  reading people's posts.

[drwhobox]

Within the last one year of my presence here on Bitcointalk and with the level of contributions and help I have gain in the last 10 months here in the forum, and just a few steps away from becoming a senior member, I deem it fit to drop my view and advise to newbies looking to grow the knowledge and financial stability through Bitcoin investment.

A big congratulation for your one year journey on this forum and for becoming a senior member on this forum. Hope you have learned a lot and will continue to learn throughout your journey here.

1: First newbies, please don't be deceived, bitcoin is not a
    get rice scheme and at that the real riches of Bitcoin is
    I'm your knowledge and not the amount you are aiming
    to accumulate over time, so you may have the capital to
    buy Bitcoin but if you don't have the right knowledge you
    can still lose everything, you can see that from the
    experience of those who stored their Bitcoin on
    exchanges such as FTX and the rest of the other crashed
    exchanges.

The ultimate goal is not only to learn about bitcoin or cryptocurrency but also to learn how to keep them safe. In this time we have many cases where people lose their coins, the people who is losing their bitcoins are mostly aware of crypto but don't know how to deal with the security.

Exchanges are not the safest place to store your assets, keep them in a private wallet to keep them safe.

2:  Be ready to wait for God know how long, Bitcoin
     shouldn't be taken as an ASAP investment allow time to
     pass give your Bitcoin a long period of time, take your
     lesson from those who bought Bitcoin in the early days
     when Bitcoin price was in the range of cent and $1 and
     locked the Bitcoin away for long and now they call
    whales so they patience paid off give your Bitcoin a long
   time-spacee to mature.

Most of the newbies in crypto things bitcoin is just a get rich quick scheme, but it is the opposite of this. Here, you need a lot of patient and holding power if want any kind of return. Although patient needs in any kind of investment to see the results you expected.

[Peanutswar]

Bitcointalk community has a lot of information you can use into your journey and its a good head start to learn more related to the path you want to take with, to the newbies chase the knowledge by that the money will follow. Once you learn a lot of possible ways to earn, strategies, techniques of other people into the crypto word you can be enlighten for more things. Good luck with your journey to the Senior Rank too OP.

[summonerrk]

All the tips are good, but I don't understand the meaning of the expression that altcoins are worth nothing in the long run. Of course, they are more volatile than bitcoin, and you can both lose everything and get a good profit on them, but they are not useless. Even if some are devalued. But when the price of bitcoin rises, the price of altcoins also rises. And ether, litecoin, etc. are also altcoins, but they have taken their good position in the world of cryptocurrencies.

[Asiska02]

Congratulations on your success in the forum thus far. You've learned a lot since your days as a newbie and are now on your way to becoming a senior member of the forum. You have some fantastic tips for newbies to learn from, and it's great that you're giving back to the forum where you learned.

Most of the tips for becoming a better trader in the cryptocurrency space have been seen and understood by those who have been here for a while. The market's ups and downs, as well as the crisis, have opened many people's eyes. Those who have learned and continue to be victims of such should be termed due to negligence and should be allowed to live by their own fate.

Newbies should understand and have a proper knowledge of the bitcoin market when they get here. It is one of the benefits of them joining here in the first place. The forum is similar to a school, and those who are ready to learn should look to the older members for guidance.

[Daniel91]

OP, very good advice, but I'm afraid that many new members will not listen to you because they think they know better 
When I was still young and inexperienced, I made a mistake like many others and decided to sell some of my btc and invest in altcoin but it was a very expensive mistake.
All the altcoins I invested in failed and only btc is still there.
This is definitely not a project where someone will get rich overnight, but a long-term investment, and everyone should learn to be patient and wait for the right moment to exit.
It is important that everyone is well informed about what crypto is, analyze the market in detail and make an investment decision based on their personal situation.

[Lida93]

4: In your quest to make a few bulls from bitcoin trading
   don't trade a bit of what you have not built knowledge and
   trading skills because that is what will facilitate your
   profits in trading.

In conclusion, Newbies take this forum seriously and after you have read the rules of the forum, also take time to read about wallets and wallet securities don't trust anyone on the Internet.

How to know a good trader and investor ,you will observe that from their start up point they would be more interested to know, keen to imbibe the knowledge about what they're about to go into. For them the knowledge in the beginning is the first and most important factor before anything else like wanting to trade because they feel by trading profit will yield immediately. It's only those newbies that put their minds on the bull run profit from their start up stage that end up vomiting the little they have to scammers cause they have no idea of what the industry is all about , who is who, like they wanna earn before they learn, what a wrong way to go.

[erep]

All the tips are good, but I don't understand the meaning of the expression that altcoins are worth nothing in the long run. Of course, they are more volatile than bitcoin, and you can both lose everything and get a good profit on them, but they are not useless. Even if some are devalued. But when the price of bitcoin rises, the price of altcoins also rises. And ether, litecoin, etc. are also altcoins, but they have taken their good position in the world of cryptocurrencies.

The list of altcoins is not an exception in investing although we have to be careful choosing altcoins because of the risk of loss, I only believe 2 altcoins ETH and BNB for long term investment, maybe the Op did not add a definition why altcoins are called exceptions because many assume big losses from altcoins, impact FTX and Luna have worsened investor confidence in altcoins.

[dansus021]

3:  Dont hold alternative cryptocurrencies for the long term
     and if you must own them just know you are just
     gambling with your money, because they can go
     from100 to 0, so altcoin is worthless for the long term.

All you have point was right but you can change the point 3. you can hold an alternative coin after doing own research and proper risk management unless you are bitcoin maximalist.

Simple advice when buy altcoin : DYOR first don't FOMO or don't buy no utility coin like shitcoin (you can buy it, but it only for fun)

[Ojima-ojo]

3:  Dont hold alternative cryptocurrencies for the long term
     and if you must own them just know you are just
     gambling with your money, because they can go
     from100 to 0, so altcoin is worthless for the long term.

All you have point was right but you can change the point 3. you can hold an alternative coin after doing own research and proper risk management unless you are bitcoin maximalist.

Simple advice when buy altcoin : DYOR first don't FOMO or don't buy no utility coin like shitcoin (you can buy it, but it is only for fun)

Most folks perceive me as a Bitcoin maximalist, but the fact is that I don't consider any other coin aside from Bitcoin and because of the high risk with altcoins I am always against them.

But that is not outstanding we also have other good altcoins that support and enhance cryptocurrency scalability.

[Wakate]

I have been seeing many advise for newbies and I have to know who are the newbies we had been talking or writing about. Well I know that learning a particular thing that we don't have idea about makes us a newbie and with time we can grow from being a newbies to an intermediate in that particular thing. Bitcoin is not some we lead in a day or in a month. It is a continuous practice and learning adventure., Even the pro investors and traders are also learning about the market everyday so we don't have to bother yourselves too much of been bais about the time and stress it can take us to learn a particular thing.