Don't invest money you can't afford to lose out of greed.

[Dzwaafu11]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

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[Dr.Bitcoin_Strange]

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

I wonder why a newbie would even want to invest in altcoins. Crypto newbies may not even be aware of how to look at a project white paper and identify if there are some tricky things with it. Newbies don't know fully well how to check the Twitter, Telegram, LinkedIn, Discord, and other social platforms of a project to decide if it's a project to risk their funds for. So newbies wasting their time on altcoins may result in the fact that they are just burrying their funds in a snowy environment that cannot melt when warmth comes. It is wise if newbies clearly stay away from altcoins. Even some experienced crypto enthusiasts sometimes get disappointed along the way when they try to take advantage of some altcoin pump and dump price manipulation.

[Zaguru12]

I wonder why a newbie would even want to invest in altcoins. Crypto newbies may not even be aware of how to look at a project white paper and identify if there are some tricky things with it. Newbies don't know fully well how to check the Twitter, Telegram, LinkedIn, Discord, and other social platforms of a project to decide if it's a project to risk their funds for.

Funny enough The social media this days is one of the last places to go and do research on new cryptocurrency projects. Infact it was through social media promotions or hypes by celebrities that newbies have the narrative of getting rich quick through cryptocurrency. Some of these Alticoins have a very well established and even verified account to promote these projects that end up dumping.

I don’t warn People not to invest in all these alts because some of them turn out to have a great pump during the bull run I will always warn people that these alts are more less gamble to accumulate and shouldn’t be placed in same category as bitcoin. And one who is looking for an asset to invest in should stick to bitcoin only

[Marykeller]

In order to truly invest safely in crypto and relax, one should purchase bitcoin. Altcoin investment these days is no longer safe and secure. A popular altcoin may be scammed or compromised by hackers. Just yesterday, hackers broke into Sushi Swap, stealing around $3 million.
Sushi Swap hack info
I've been feeling horrible ever since I heard the news because no one can predict which other altcoins may be compromised by hackers tomorrow. It's a pity that crypto has now become a place, hackers can hack into and siphon people's money

[tvplus006]

...I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier. ..

This rule also applies to all investments, not just cryptocurrency. Accordingly, you can lose your money by investing it in a real business, but the chance of losing it is much higher if you invest in cryptocurrency. So it is necessary to take care of your money, as it is much more difficult to earn it than to lose it.

[Dr.Bitcoin_Strange]

Funny enough The social media this days is one of the last places to go and do research on new cryptocurrency projects. Infact it was through social media promotions or hypes by celebrities that newbies have the narrative of getting rich quick through cryptocurrency. Some of these Alticoins have a very well established and even verified account to promote these projects that end up dumping.

I don’t warn People not to invest in all these alts because some of them turn out to have a great pump during the bull run I will always warn people that these alts are more less gamble to accumulate and shouldn’t be placed in same category as bitcoin. And one who is looking for an asset to invest in should stick to bitcoin only

So it's really more sophisticated now for newbies to note the possible ways to avoid a scam project if they see one. I remember back when I was still studying the crypto space, my mentor would say that if I wanted to know if a project was real, I should search for their Twitter page and look through it to see how active their page is. I should also take note of how many followers they have and how many likes and retweets they have too. He told me to go on Telegram and search for the project's Telegram group or channel and see the level of activity going on there and how their group admins are responding to users that are asking questions there.

I did as he was instructing me, and I was able to detect a few things. If a project is phishing, there are some questions you might ask in their telegram group, and they will automatically delete you from the group and also delete your question. The same thing applies to their tweets on Twitter and other of their social channels.

You said it all @Zaguru12, some celebrities and influencers are even the ones helping these scam projects gain popularity on social media. I must say that I have fallen victim to altcoins in the past, and that's because I was a newbie and was not able to figure out all these things by myself until I became too exposed and also learned from the experience I got. For those reasons, I would not advise newbies to go into altcoins, but if they feel to do so, I had just say, "trade at your own risk, you might get lucky."

[SatoPrincess]

It’s those high profit promises that gets the crowd interested in crypto, altcoins projects spend lots of money on promotion, they pay your favorite celebrity to endorse their project. I think people buy altcoins because they think they already missed their window of opportunity for buying bitcoins, so they buy altcoins instead believing that they are buying at the bottom and they believe the altcoin will be as big as bitcoin in a few years. I doubt these set of newbies know what a whitepaper is, or even do their research to know if the project is legitimate.

[Hamza2424]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

Hmmm, I think that's a great move if people are thinking like that because if they already know where they need to enter then surely they have some experience and they don't want to miss the journey. Yes, there are some risks involved but the end result is beautiful just needs a little patience and consistency.

They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

That sounds a piece of good advice on the basis of entire savings investment but I have point here if someone wants to invest some of his money and he is dreaming to invest and make 10X of it on somebodies advice or motivation whether he is a good analyst or not I think as the experience of the past trend we can say yes you should invest but need a little patience as mentioned above you won't regret. Because need to take risks and invest some part of your savings I think it's worth to be risks because just saving is not going to help out you in the future.

[hatshepsut93]

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

Beginners can't do their own research, they don't have the knowledge and experience to do so. In fact most people should just stay away from trading and altcoins, it's a risk that is not worth it. Owning Bitcoin and holding it for long term is already a good investment. Alts are just a trap for greedy people.

[Oceat]

The point here is don't invest the money that you aren't supposed to be investing because it has other purpose. Don't risk something that you might wanna regret later because of your greed. If someone wants to invest they should learn first what they are investing because it's risky or dangerous to blindly trust your instincts if you believe you will get the profit just by riding with the hype.

Hype market is dangerous since it's a way of the whales to gather small fishes then collect money and suddenly dump the market although it's a clear sign of manipulation but what I'm just saying is learn first how the market works.

[drwhobox]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

Fear of missing out and greed drives them to lose their money. They think that these overhyped projects and get rich quick schemes will make them more money overnight but they end up losing their money.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

Absolutely, scammers always promise unrealistic profit, if you are greedy and put your money into their account they will scam you right away. If you can stop your greed you can save yourself from getting scammed.

[batang_bitcoin]

The best thing that newbies can do is to invest only what they can afford to lose. The market is too ruthless with everyone and mostly with them. They'll never notice that they're already out of money if they chosen a wrong crypto to invest and that's why they need to be picky and also DYOR before committing to a project. Investing to bitcoin only is one of the best choices but we can't stop people from choosing other projects that they think will make them profitable. It's not about to become rich within the bull run but about taking advantage of the situation because it only comes every after 4 years or so.

[Cantsay]

This thread brings back the memory of a thread I tried to several days ago about a guy who collected loans and even used his mother's pension money to invest in cryptocurrency(probably some hyped coin/token) and then lost everything and he was so devastated that he attempted to commit suicide.
In the example provided, the guy is a techy guy and I'm sure he knows the simple rule of investing only want you can afford to lose but the fact of getting more money blinded him and he did the opposite of the rule, newbies should never, I mean invest what the k ow that they can't lose no matter what was promised to them they should at least try to resist that temptation of FOMO.

[zaki12]

Many beginners fall into crypto because of the promise of high returns, especially in newly launched altcoins.  Apart from that, promotions carried out by altcoin projects are also a factor that attracts people.  Basically, they must know that investment decisions should not be based solely on promises of high profits or promotions.  As an investor, it is important to conduct careful research and objective analysis of an altcoin project before making an investment.

Another mistake is sometimes they don't care about the whitepaper, even though it is a document that explains the technical details about a crypto project.  Though it is very important for investors to read the whitepaper and understand how the project functions before making an investment.

I also agree with you (OP) in saying that choosing to only own Bitcoin and keep it for the long term is a good choice.  Because most altcoins are traps for greedy people even though there are also Altcoins that have great profit potential, but also require good research and understanding before making an investment.

Therefore it is very important for beginners to understand that investment decisions must be based on careful research and objective analysis, not just a greedy desire to make quick profits.

[Asuspawer09]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

Especially on Bullrun a lot of newbies would literally buy tokens out of nowhere thinking that they could easily earn a big amount of profit on that token since its Bull run they probably earn a profit, there are also some lucky people who get rich on that method but it does mean it's gonna happened to everyone as well, after that, in the long run, they lose a lot on their investment when they still holding their token so always take profit. It's a common mistake because we all sometimes become greedy.

But yes I would always invest especially in Bitcoin, a big percentage of your portfolio should always be Bitcoin. Not necessarily only bitcoin you could gamble a little bit on other altcoins in the market may be on the top altcoins that have a lot of potentials, I mean yes its altcoin but its high-risk high reward and it doesn't really matter since you only invest what you afford to lose at that token.

[HajiBagi]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

Cryptocurrency is not about investing in other coins just to make money during a bull run. Rather than investing in other altcoins, it is preferable to invest in bitcoin to avoid losing what you are not capable of losing. The act of entering cryptocurrency to invest in any project because they've heard about the bull run is part of greedy, and greedy don't tell people what they're doing until they're done with it.
The best thing for any beginner is to avoid being persuaded by anyone else to invest in any cryptocurrencies simply because of the bull run. If you lose your money, the person won't bear the pain with you, so I advise you to research the coins you choose to invest in.

[Greggry]

Greed has kept many people down because some people wants even get rich over night but to invest is not a bad thing though, only that before you invest in any business you should a prime knowledge of the industry you want to invest. For instance: you can't listen to a marketer telling to invest on a product you never have ideas of before, you may end up losing your money for his or her own self interest. As for newbies no point to invest because you're new what you need is the knowledge of how bitcoin or altcoins works! If you're much convinced on a long run, you can take the risk but I always we should use spare money for investment.

[Adbitco]

As far as i know now is not the right time to invest because we don't know if actually bitcoin getting to $30k would be a trap for the prey, and who are the prey? They are those people that jumps into market when the atmosphere of the entire cryptocurrency seems to change and beginning to make a new wave of bull run, don't be surprised after bitcoin gets to 30k there would be an every possibility that it may gets back to 25k or 20k before getting to 35k thereabout, who knows?
So any  newbie venture into cryptocurrency should be extremely cautious of the market otherwise when it turns back there will be lots of cry over the investors who always invest when the atmosphere changes.

[Hyphen(-)]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

Great one, OP. Now is the time for crypto influencers and trading signal professionals to claim to be experts in crypto trading by giving a lot of advice to newbies with little or no experience in cryptocurrency to invest in some project they don't know about, promising a huge profit.

The risk in cryptocurrency is very high, which is why investing your entire life savings or taking out a loan to invest in cryptocurrency is a bad idea because no one knows how the market will move.

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

No coin is more reliable than Bitcoin, and as a beginner in cryptocurrency, Bitcoin is the best option to start with to reduce the risk of losing your capital quickly.

It is not too late to invest in Bitcoin because this period can also be an opportunity for new investors to stock up on Bitcoin for the future, as Bitcoin has a bright future ahead of it.

[Nheer]

I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

Even though it's uncertain when the next bull run will occur, everyone is looking forward to it. It's an opportunity for everyone, so I won't tell anyone not even my enemy to miss it. We should be well-prepared and invest as much as we can, but we also need to use caution If we need to invest in alternative coins and not just invest in any project without conducting adequate research. I currently focus all of my energy on investing in bitcoin; I haven't thought about holding alternative coins yet, but I might do so soon.
Some people actually got into cryptocurrency because they had heard about the upcoming bull run and had been advised to hold as many coins as they could. As a result, they invested without doing any study or gathering expertise, which is foolish and is likely to cost them money or lead them to invest in projects with no future.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

Most newcomers mistakenly assume that the cryptocurrency industry is a place where they can get rich quick and make fast money, but I no longer hold this against them rather, I think it's because they are ignorant and have been misled by stories of others who have made money from cryptocurrency. I think they'll be reminded of it by reading this post and won't be motivated to invest without having the knowledge. If they ever want to survive in the crypto sector, knowledge will be their greatest asset.