Always do your own research (DYR)

[martinex]

But of course, those who want to profit from their friends when they buy Bitcoin for them or sell to them at higher commission, such people won't forewarn their friends. Their main interest would be to get their friends in so they can profit from their transactions. If they have nothing to lose, they would be telling their friends the pros and cons of the industry. Crypto space isn't an all comers affair. There's a high rate of scam and that's why DYOR is very important for anyone who wants to make a headway in this industry.

Unless he goes in and buys BTC Sir. If others are untested, it will only increase the mental burden, especially if you buy coins that are not clear in their purpose and purpose, if lured by our advisors, the increase will be 100 times or even a thousand times.

I personally have also been invited before when I was a newbie to trading but the assistance was done by my advisor well, meaning that risk, basic analysis is taught, when to buy is taught and when to sell is taught as well and the most embedded in my mind is never buy coins when the chart is high and follow along and never enter participate in buying coins if the price is still falling meaning it is not optimal.

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[uchegod-21]

If you check the last statement in the chat above, you will understand where the newbie said that he isn't interested again, that his money should be given back to him. This means that the person that introduced him to cryptocurrency didn't allow him take charge of his investment. He invested by proxy and doesn't take full responsibility of his investment.

Whenever anyone wants introduce a newbie to the cryptocurrency industry. He should first tell them the risk involved and not only the positive side of the story. If they are able to take the risk, it is better for them, if not they should relax. There's no need blaming others for your losses.

[Mrbluntzy]

Probably this is because the investor itself wants to get rich quick and in order to satisfy his greed, he invested without learning all the basics and neglect all those disadvantages that may turn his investment into a failure. So there’s no one to blamed but definitely himself. And on part of those who advise to invest, learn to avoid taking guarantees that the investment will go on skyrocket, all investments have still uncertain outcomes so invest only at your own risk.

It clearly shows that that was what he wanted but part of the blame should also be on his mentor for not advising him not to have used all his business money to invest into cryptocurrency. Because of how strict I was warned about price volatility of cryptos, I don't force my self to invest when am not yet fully ready and prepared to hold any money in crypto until I realize profit. While teaching people about crypto in a way to help them, mentors should also teach their friends about the dangers of crypto and not only letting them know about the benefits alone.

[isaac_clarke22]

~

Yeah this is quite common. Just imagine why would everyone wouldn't just do crypto if it was an easy rich scheme in the end. This is same just like in stock market and trading. There is just hell nothing of a way to be rich easily.

Usually I would just treat crypto investment as a side job, not something that I would really put my whole 9-5 into.

[Smartvirus]

No reason I wouldn’t blame the crypto newbie though; you never can tell what he’s been told or in what context the crypto idea was been sold to him or her. Something you can tell for sure is that, he or she doesn’t know how the crypto market works, didn’t play by the rules of investing only with spare funds (funds you can afford to lose) and he or she really is in crypto for the profit and have no room for losses.

Once you are about this perspectives to the cryptocurrency industry, you could easily be swept away by your ideas of making profits. I’m every business, there is a profit and loss situation.

Meanwhile, this investor haven’t lost nothing. Just a depreciation in the value of his or her asset which is normal due to volatility and could always change in his or her favor. The more reason why he or she should do nothing and just hodl.

the more reason why DYOR is very important and even with that, always speak to new investors on the possibility of loosing to the market when they sell at a low and the importance of hodling.

[knowngunman]

It's possible this is a genuine message, or maybe it's a joke.  Someone  invested their "business capital" in something they may not fully understand, which could lead to financial loss. Can you imagine his business venture if he is really that stupid and reckless? Perhaps this will be a valuable learning experience. As the saying goes, "Fools and their money are soon parted."

I don't mind whether it's genuine conversation or not but the truth is things like this are happening. People are desperately looking for a way to make quick money by whatever means. Sometimes, it's due to misleading orientation that led some of this newbies to invest their business capital in crypto with the hopes of doubling the amount without considering the volatile nature of the market. I once had a similar experience like this where the person approached me to seek for my advice because he wanted to invest money he saved to start up a business simply because he was told that bitcoin increases in value.

In essence, orientation contribute a lot to the success of newbies in this industry called cryptocurrency. Majority of them are lazy to carry out their own research, they chose to believe whatever their friends tell them. They are not bothered because the intention is to milk some money and move on.

[Rengga Jati]

This happens quite often. When someone has just entered the world of crypto investment and is immediately trapped by the sweet promise of a new project, it will end up like that. Even as time goes by, it will become $0. This is sad but often happens. In fact, many novice investors misunderstand investing in crypto and only do it following the FOMO that is happening. Look at how many victims of meme coin FOMO there have been so far? A huge amount. And even that happens every day. Not only meme coins, but also many new projects that ultimately failed to maintain their position on the market, and were even delisted. This is why it is important to analyze the project first, not rush to investigate what we don't understand. Yes, this is to avoid various possibilities of rug pulls or shit coins like this.

[Distinctin]

No reason I wouldn’t blame the crypto newbie though; you never can tell what he’s been told or in what context the crypto idea was been sold to him or her. Something you can tell for sure is that, he or she doesn’t know how the crypto market works, didn’t play by the rules of investing only with spare funds (funds you can afford to lose) and he or she really is in crypto for the profit and have no room for losses.

Once you are about this perspectives to the cryptocurrency industry, you could easily be swept away by your ideas of making profits. I’m every business, there is a profit and loss situation.

Meanwhile, this investor haven’t lost nothing. Just a depreciation in the value of his or her asset which is normal due to volatility and could always change in his or her favor. The more reason why he or she should do nothing and just hodl.

the more reason why DYOR is very important and even with that, always speak to new investors on the possibility of loosing to the market when they sell at a low and the importance of hodling.

With this type of scenario, I can say that both have become irresponsible on their part. If you want to introduce crypto into your friend or colleague, be honest to them about how the market works and how risky a certain investment is, and not that you will lure him with all the positivity that bitcoin can give.

Now on the investor’s part, he should take extensive research first prior to investing and not just trust everything what the other person is saying. Because in the end, when your investment does not work and not end up according to your plan, you will more likely blame the person that have encouraged you to invest, when in the first place you should do your role as well educating yourself before you take other people’s decision.

[Y3shot]

Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works.

Do your own research is very important and it is something that can never be looked down when it comes to investment.  It is the duty of everyone to make good research about cryptocurrency to have a better understanding about it because crypto market is not what people can manage if their is no better understanding.  

If you introduce someone to crypto, make sure they know about the risks of volatility.
Theres also a risk of being blamed or even arrested if someone claims you lost their money through investing. This could lead to accusations of scams.
Incidents like this can give reputable coins like Bitcoin a bad reputation, as people might spread misinformation about them being scams. Let's be careful about how we introduce others to crypto investing.

Introducing someone to cryptocurrency and not giving them the basic knowledge they need about cryptocurrency is a bad one. When you tell people what they need to know about cryptocurrency it will  really help them team be in the safer side and reducing the risk at which they will  lose. When introducing cryptocurrency to someone it is important to let them know the key factors that will sustain them in the market. Some beginners make mistakes because they were not giving a proper introduction.

[Maslate]

That is why the basic knowledge on cryptocurrency market and possible the Blockchain should learned or taught to the newcomers in the cryptocurrency world so that would understand some basic concepts like investment, bearish and bullish market and ATH and even halving so that when they are investing in it then all these ridiculous questions and conversations will not occur again.

According to a popular saying "ignorant is a disease". When I say the conversation I laughed.

As a new investor in the market, do not wait for someone to teach you on that but work on your own and do your own diligence to make a good research on your planned investment. This is to avoid you from falling into the scammer’s trap, as any scammer will try to encourage you to invest so they can take advantage of your funds, or to avoid expecting too much on such investment because you were completely carried away with the words coming from the person who influenced you to invest.

[Z390]

I found this image on WhatsApp and wanted to share it here as a message for everyone in our forum. In the crypto world, prices can change a lot especially during Bear season. Even though you might have the same amount of coins their value in the market may reduce drastically. This can be scary especially for newcomers who might not understand how it all works. In the image above ,someone introduced a newbie to crypto without explaining the risks or advising them to do research first. Now the newbie is upset and asking for his money back.
Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works. If you introduce someone to crypto, make sure they know about the risks of volatility.

Theres also a risk of being blamed or even arrested if someone claims you lost their money through investing. This could lead to accusations of scams.
Incidents like this can give reputable coins like Bitcoin a bad reputation, as people might spread misinformation about them being scams. Let's be careful about how we introduce others to crypto investing.

In thr past I have end up in this mess, I introduced Bitcoin and altcoin to some newbies and I regretted my decision few months later, my crypto portfolio went down as well and I don't freak out about it, but these newbeis can't handle the losses.

It was at the moment I found out that the money they invested wasn't even theirs, they took loan to invest after I have warned them about risking only what they can afford to lose, I lectured them about the whole crypto idea thinking that I am doing them some favour, but I was wrong.
It was later that I had to pay for their assets and take it all from them, they felt at ease and I promised myself to never advice anyone to invest in crypto again, atleast not through me, many people invest in crypto only to see their bags going up and up, they are too emotional when losses start happening, even when you explain to them that they only lose if they sell.

[KiaKia]

Newbies who rush into crypto especially altcoins without understanding often rush out of crypto with a loss too.

WHEN YOU RUSH INTO CRYPTO INVESTMENT WITHOUT UNDERSTANDING

Many people can't withstand crypto investment no matter how many times you try explaining to them, seeing their money lose some percentages is like stabbing a knife through their hearts, they just can't do it.

I have noticed that the majority of these people don't like doing their own diligent research, they are the type that always want someone to do everything for them, and they are like this because once something bad happened they will be able to hold you responsible.

I call such people the weak ones, it is very important to always tell people about the advantages and the disadvantages of investing in crypto, some weak ones will reveal themselves to you instantly, you can't know how success tastes like if you don't want to fall.

Losing is the fear that takes over humans mind and trying again is the way to winning, most of the time we need to taste what failure feels like to progress in life, if you don't take risks and embrace losses you can't ever grow.

[2Pizza410000BTC]

I found this image on WhatsApp and wanted to share it here as a message for everyone in our forum. In the crypto world, prices can change a lot especially during Bear season. Even though you might have the same amount of coins their value in the market may reduce drastically. This can be scary especially for newcomers who might not understand how it all works. In the image above ,someone introduced a newbie to crypto without explaining the risks or advising them to do research first. Now the newbie is upset and asking for his money back.
Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works. If you introduce someone to crypto, make sure they know about the risks of volatility.

Theres also a risk of being blamed or even arrested if someone claims you lost their money through investing. This could lead to accusations of scams.
Incidents like this can give reputable coins like Bitcoin a bad reputation, as people might spread misinformation about them being scams. Let's be careful about how we introduce others to crypto investing.

It is always better to invest in your own research in cryptocurrency because investing in your own research gives you more confidence in that investment. I never believe in predictions given by others and never invest because others can never predict better than me and even if they do we don't believe it in our mind, always think that he predicted bad for me and gave me advice. It is also not right to advise a new investor to invest first because first a newbie should be made aware of investment, safety of investment, risk of investment, also make him aware in various ways then advise a new investor to invest. If recommending to invest first, I would suggest investing only in Bitcoin and keeping the wallet very secure to hold the investment.

[Marykeller]

Truly, it is not everyone who can stay strong to watch their money lost in crypto. Many people have felt bad like the newbie you made an example of of, which makes them imagine and begin to ask questions of how long will the market remain bearish like this. Nevertheless, this is a big lesson to those who put their whole resources in bitcoin that it will make them rich in a short interval of time, and when it doesn't arrive as expected, they begin to ask questions about why it is coming forth as they had expected it to

[Y3shot]

As a new investor in the market, do not wait for someone to teach you on that but work on your own and do your own diligence to make a good research on your planned investment. This is to avoid you from falling into the scammer’s trap, as any scammer will try to encourage you to invest so they can take advantage of your funds, or to avoid expecting too much on such investment because you were completely carried away with the words coming from the person who influenced you to invest.

If you expect people to teach what to do in cryptocurrency you will make lot of mistakes, even if people tries to show you one or two you will be given the wrong information and people may also take advantage over you. I think everything you need to know about cryptocurrency must come from you. You learn more by making your research and you also learn by your everyday experience.  I always say cryptocurrency is personal,  nobody can help to do it for you. Sometimes even if you depend on the videos that are online you may not get the right information because some of them are not well knowledgeable on cryptocurrency.

In cryptocurrency you are the driver of your journey,  if you are not a good driver you may end up having an accident,  it is either you survive from it or not. Responsibility in crypto is personal and no one will pay the price for you.

[Issa56]

I found this image on WhatsApp and wanted to share it here as a message for everyone in our forum. In the crypto world, prices can change a lot especially during Bear season. Even though you might have the same amount of coins their value in the market may reduce drastically. This can be scary especially for newcomers who might not understand how it all works. In the image above ,someone introduced a newbie to crypto without explaining the risks or advising them to do research first.

The image which you posted is really funny, but I don’t blame the newbie which made the investment, I blamed the person that introduced the newbie to investment. When introducing anyone to bitcoin investment, you have to make them understand everything about bitcoin and cryptocurrency before investing, don’t just tell them if they invest in bitcoin they are going to make good profits, without telling them they can also lose money if they lose. People like this don’t know they can lose money after investing, so seeing their money reduce will really make them panic.

Now the newbie is upset and asking for his money back.

People like this will see bitcoin or cryptocurrency as a scam, or maybe they will blame the person that introduced them to it that the person scammed them. When i am introducing bitcoin to anyone, I don’t hide anything from them, I do tell them everything they need to know so that they won’t end up blaming me for losing money, or they won’t accuse me that I scammed them.

[Dzwaafu11]

That is why we need to introduce patient in everything we do, most of the newbie are not patient enough to know more about cryptocurrency before looking out to make investment.

You see this, we always generalise it on newbies all the time, because they are the ones that mostly fall victim anytime, but to be sincere, even some experts and professionals get this problem. You know, it's not easy to control your emotions, especially when it comes to money issues like this. People get FOMO, and that's why they find it difficult to overcome things. The patient of leaving their funds there is not there, and some invest without the knowledge just because they don’t want to miss the opportunity and because the marketing is going higher, so it will be good if we calm down and learn before investing.

The crypto space is very large with different types of information that will get many people confused without looking for the right source of information before taking any folder action, and this affects many people. However, if there’s knowledge of where you want to put your money, there won’t be any fear, and the risk management will be there. 

[albon]

The crypto space is very large with different types of information that will get many people confused without looking for the right source of information before taking any folder action, and this affects many people. However, if there’s knowledge of where you want to put your money, there won’t be any fear, and the risk management will be there. 

What you mentioned is absolutely correct.

Most people who enter the world of cryptocurrencies find it unprofitable or are exposed to huge losses; the basis is their lack of experience and competence and their reliance on recommendations from other analysts, influencers, or inexperienced people. They also depend on unreliable sources of information, which will affect their investment decisions. Also, greed drives them to put all their full funds into any currency when they read an article or tweet claiming they can make 100x returns on their investment and become wealthy. Therefore, since this space is very large, the investment matter also requires extensive research.

The conversation screenshot provided by the OP indicates that the investor who lost $370 of his capital did not know the appropriate time to buy and did not choose promising currencies for investment. He may have sold the amount he bought for $500 at a loss. Therefore, we advise beginners to avoid investing or trading before gaining the necessary experience and correct information to survive.

[DubemIfedigbo001]

,make sure they know about the risks of volatility.
.
Incidents like this can give reputable coins like Bitcoin a bad reputation, as people might spread misinformation about them being scams. Let's be careful about how we introduce others to crypto investing.

Let me be honest with you, most newbie are only interested in the fast that they can get gains knowing that bitcoin is a store of value, no matter how you explain the volatility to them, they view it as just another big grammar or big bang theorem and are very enthusiastic to start. No newbie really understands this volatility nature of a thing until they've gotten involved in it for a while, experiencing it first hand gives a clearer understanding of its nature and the facts you encountered during your research period. Personally. I never fully understood these things until I made some investments and I'm sure that appeals to most people here.

 The newbie in OP is just another person who invested at the wrap up of bullish market and a launch of the bearish market which explains why the coins value experienced such reduction. If he's well informed about halving, let him wait for a little while like his investment manager advised and he will be glad

[Abbatty]

I found this image on WhatsApp and wanted to share it here as a message for everyone in our forum. In the crypto world, prices can change a lot especially during Bear season. Even though you might have the same amount of coins their value in the market may reduce drastically. This can be scary especially for newcomers who might not understand how it all works. In the image above ,someone introduced a newbie to crypto without explaining the risks or advising them to do research first. Now the newbie is upset and asking for his money back.
Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works. If you introduce someone to crypto, make sure they know about the risks of volatility.

Theres also a risk of being blamed or even arrested if someone claims you lost their money through investing. This could lead to accusations of scams.
Incidents like this can give reputable coins like Bitcoin a bad reputation, as people might spread misinformation about them being scams. Let's be careful about how we introduce others to crypto investing.

I thinking before introducing some to Bitcoin or even Alt coin investment, you need to tell them first about the risk involved. Like you need to explain to them in details how bad market can be on some certain investment, you should take your time to explain it to them. But even at that most newbie won’t still listen, most of them just feel bitcoin is like a way to get fast money and would just even invest without having proper knowledge about what they are investing into,  also some just want to be a Bitcoin holder so when others say they are into cryptocurrency they can also say they are into cryptocurrency too.

As a new trader you can’t always wait for people to teach you what to do, you have to work hard, make tireless research, it can only make you better  in the market. It will help you not to make bad decision in the market.It never easy to sit and watch your money liquidate, so that why you have to put in work too, make research and ask experts questions where you are having issues.

Issues like this are common in the crypto world, so this should serve as an eye opener to other newbies. Try to seek  proper knowledge about anything, not just crypto but anything you are putting your money into before investing in them. It will save you money and stress at the long run.