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Author Topic: What should new cryptocurrency users do first?🙏🙏🙏  (Read 341 times)
Franctoshi
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December 11, 2023, 10:36:23 AM
 #41

I want to know to all you big cryptocurrency users if someone who is new to cryptocurrency wants to learn about cryptocurrency then what should he know first, the reason for saying this is because many new crypto currency users come to cryptocurrency and don't know anything.  By investing in cryptocurrency without understanding, they are losing all their property, so if you who are experts would say that before investing in cryptocurrency, you should know what things you should invest ?  
Take a bold step and focus on learning the basics things about Bitcoin and cryptocurrency first before thinking of any investment, problems with most newbies is that they forget about learning and are carried away by the gains or profits they are hoping to make and in the end everything balls down to loss and they will run back to do what they should have done in the first place.

Then the new crypto currency users would have benefited a lot, they would not have faced any losses as newcomers
There is no Business you would do without a loss ,So facing loses is part of the business but it depends on the rate at which you are incurring loses and which lies on the level of your knowledge in the industry, Even the experts in the space, they still face losses let alone newcomers ,what you need is Bitcoin/cryptocurrency education and the experience to navigate the space and in order to minimize the rate of losses you would face.

R


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traderethereum
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December 11, 2023, 10:45:18 AM
 #42

Most people invest in crypto because they see their social media pages showing invitations from their friends to invest in new coins. They don't ask more questions or look for more information about the project.
They immediately followed the invitation and they didn't even know how they could make a profit from the coins. And when the price starts to increase a little, they are tempted to invest even more money.
And once again, they don't look for more information because they trust their friend's invitation. If they would take the time to look for more information, they would see that it is a new, untested coin that could cost them their money.
That is why people must find out first before deciding to invest and this is each person's responsibility.

Issa56
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December 11, 2023, 11:04:03 AM
 #43

I want to know to all you big cryptocurrency users if someone who is new to cryptocurrency wants to learn about cryptocurrency then what should he know first, the reason for saying this is because many new crypto currency users come to cryptocurrency and don't know anything.  By investing in cryptocurrency without understanding, they are losing all their property, so if you who are experts would say that before investing in cryptocurrency, you should know what things you should invest ?  Then the new crypto currency users would have benefited a lot, they would not have faced any losses as newcomers
Firstly, you should learn what cryptocurrency is all about. You shouldn't just jump into something you don't really know much about, if you jump in, then you are going to jump out. You have to know the appropriate exchange that you will be using, the appropriate wallet that you will be using for storing your bitcoin, and make sure you learn how to properly secure your private key. If you don't properly secure your private key, you are risking losing your bitcoin. Also, you should learn that your asset shouldn't be on exchange. If you buy your bitcoin from an exchange, make sure you send it to a non-custodial wallet immediately. It's not safe to leave your asset on exchange. If you need a maximum profit from bitcoin investment, then holding for the long term is the best.

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December 11, 2023, 11:22:47 AM
 #44

Learning about how to keep their assets safe, I think this is the first thing to spend your time on, many people have lost access to fortunes in crypto because they thought its as easy as storing funds in their bank account, there is hacks and theft in crypto than the banking sectors, crypto is like the hackers playing field, they can steal and get away with it easily.

When I was new to crypto, this cost me a lot, I used the wrong crypto wallet to store my assets and I lost them, enough to set me up for life, with Doge coin mostly, something I can never forget till the end of time, I was so focused on how to get the assets, how to get them through airdrops and other ways, how to buy them on exchanges, but I never did research on how to safely keep them from hackers and Custodial wallets.

When you want to log into your bank account you need your mail account and your password, this was what I had in mind, towards crypto, and I stumbled on crypto wallets that requests the same, username and password, not knowing that if its not your key its not your assets.

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I_Anime
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December 11, 2023, 11:39:06 AM
Last edit: December 12, 2023, 09:38:46 PM by I_Anime
 #45

I'm no expert though because I'm also learning but still have some knowledge about cryptocurrencies. See at first losses are inevitable even if you are new traders or old just know that but doesn't mean you can't manage it. Yeah there's  pretty much some ways you can manage your losses to not experience it that much. At this moment focus more on learning things about cryptocurrencies, this forum is a nice place to start that and also do your own personal research to make that knowledge solid. Because is not everything they will tell you they will only explain to you the way they understand that why you have to do your  own personal research to add to theirs.

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December 11, 2023, 12:12:36 PM
 #46

Every new member after joining Cryptocurrency must plan why they are joining Cryptocurrency. Since they already have ideas, each new member should try to move forward by focusing on his own ideas. If a new member thinks that his intention is to trade then he should try to learn enough about trading and if the new member thinks he will invest then he should try to get enough knowledge about investing. On the other hand, if the new member thinks that he will earn money without investing money, then he has to be skilled in various development tasks. If new member wants to earn through this forum then he can start bounty campaign first and if he can increase his account rank then he can also earn by joining some signature campaign. Earning from cryptocurrencies is entirely up to the member.

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m2017
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December 11, 2023, 04:59:54 PM
 #47

I want to know to all you big cryptocurrency users if someone who is new to cryptocurrency wants to learn about cryptocurrency then what should he know first, the reason for saying this is because many new crypto currency users come to cryptocurrency and don't know anything. By investing in cryptocurrency without understanding, they are losing all their property,
Maybe it's "invest what you're willing to lose"?

so if you who are experts would say that before investing in cryptocurrency, you should know what things you should invest ?
Oh, if only these expert investors knew what to invest in.

Then the new crypto currency users would have benefited a lot, they would not have faced any losses as newcomers
Newcomers must lose. It's unavoidable.

One way or another, they will make a mistake. Therefore, I declare as an expert that beginners should make their first investments in very small amounts and then mistakes will bring minor losses. Having gained experience, it will be possible to invest larger amounts.

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