Always do your own research (DYR)

[Y3shot]

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

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.

Most newbies thinks when you rush into cryptocurrency that is when money can quickly be made, they just feel taking time to learn can deprive them from getting the money in cryptocurrency.

 The truth is that those who take good time to learn cryptocurrency always don't regret. When people rush to make money in cryptocurrency without learning, it's either they will end up quiting cryptocurrency or they will start afresh to learn cryptocurrency and the time wasted can be annoying. It is better to learn cryptocurrency well than trying to make money so quick from it.

Patience is what every beginner needs in cryptocurrency to scale through,  without having patience it is impossible to survive the market or make something good from trading.

[1714746207]

1714746207

[1714746207]

1714746207

[_BlackStar]

-snip-

Most newbies thinks when you rush into cryptocurrency that is when money can quickly be made, they just feel taking time to learn can deprive them from getting the money in cryptocurrency.

 The truth is that those who take good time to learn cryptocurrency always don't regret. When people rush to make money in cryptocurrency without learning, it's either they will end up quiting cryptocurrency or they will start afresh to learn cryptocurrency and the time wasted can be annoying. It is better to learn cryptocurrency well than trying to make money so quick from it.

Patience is what every beginner needs in cryptocurrency to scale through,  without having patience it is impossible to survive the market or make something good from trading.

Interest should not be forced - in fact it is not wrong for a beginner to only be interested in learning to trade rather than learning the technicalities of bitcoin. In most people's goals - they just want to make more money rather than mastering technical knowledge about bitcoin - as a result they only focus on learning trading and self-development about investing instead of anything else.

To own bitcoin you don't have to learn anything technical and you don't have to be an expert ^{[enough with basic knowledge].} You just need to learn how to buy, withdraw it to your wallet and store it - while you also have to learn the opposite, such as selling it back at the price you want.

[SOKO-DEKE]

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.

It is very bad to introduce someone to any type of investment or business without proper explanation of the risks and benefits of the investment. This is of one reason why many newbies easily get scammed or lose their funds in the cryptocurrency industry. As for me, some people I introduced  Bitcoin and general cryptocurrency to, I never try to hide anything from them and again, I will never advise anyone to invest whenever I introduce them to cryptocurrency. Sometimes when I introduce Bitcoin to some set of people, as they heard about the benefits, they always eager to invest. But I always advise them to not rush and invest. They should make sure they try to do their own research.

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

Maybe the person that introduced the newbie to cryptocurrency maybe the one that advised the newbie should invest, and that is may be the reason why the newbie is upset and asking for its money back. To avoid all this kind of attack from the person someone may introduce to cryptocurrency industry, it should never try to advise them to invest in any coins. Just try and make them have the proper knowledge of about Bitcoin and cryptocurrency in general."

[Nheer]

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.

Newbies mostly join crypto because of what they hear about people making money from it and without learning much about or seeking any kind of knowledge they just jump into it and waste no invest in it. You will find it difficult to be successful in something you know nothing about but newbies don’t bother because they are blinded by the profit of others. There is more to crypto than just buying and holding, aa lot of things needs to be understood first or better still having basic knowledge about it is enough to keep you going for a start.

Understanding the risk involved is important because crypto has a 50/50 success rate because of it’s volatility and without properly understanding the market behavior it is easy to lose money, losing money is normal whenever the market crashes and it affects everyone including experts but the major factor that determines success in crypto is patience, having the patience to withstand the temptation to sell your assets when the price is down is an important attribute every investor should possess but clearly any newbie without knowledge will lack this. Sometimes newbies have the wrong mentor when being introduced, they are not being educated properly about it and that is also part of the reason newbies lose money in crypto.

Let's be careful about how we introduce others to crypto investing.

This is a serious advice that shouldn’t be taken for granted, there have been cases of people being accused for introducing others and leading them into loss so we need to be careful who we introduce. People get doubts when they are involved with others regarding money and some people will even leave aside their friendship and challenge their friends for misleading them because money is involved.

[Taskford]

-snip-

Most newbies thinks when you rush into cryptocurrency that is when money can quickly be made, they just feel taking time to learn can deprive them from getting the money in cryptocurrency.

 The truth is that those who take good time to learn cryptocurrency always don't regret. When people rush to make money in cryptocurrency without learning, it's either they will end up quiting cryptocurrency or they will start afresh to learn cryptocurrency and the time wasted can be annoying. It is better to learn cryptocurrency well than trying to make money so quick from it.

Patience is what every beginner needs in cryptocurrency to scale through,  without having patience it is impossible to survive the market or make something good from trading.

Interest should not be forced - in fact it is not wrong for a beginner to only be interested in learning to trade rather than learning the technicalities of bitcoin. In most people's goals - they just want to make more money rather than mastering technical knowledge about bitcoin - as a result they only focus on learning trading and self-development about investing instead of anything else.

They simply dive into something that these people think a easy way for them to earn money and what they think they need to do is just buy low and sell high, but actually these newbie will only realize that its not simple as that when they are already in trading battle field. For beginners a research is important activity they should do since by finding a lot of knowledge on everything they want to participate or get curious with then provably that newbies can find something good approach towards the risky market then they can able to find some solution or strategy on how they can possibly minimize their losses then increase their potential to gain some profit for doing wise decision on each trades they execute.

[Dzwaafu11]

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 found this funny at the same time is not, because this newbie really rush to do this investment, he didn’t want to learn and I’m sure he did this without telling the person that introduce him or her to the crypto space. $500 is not small money for this user, who is now panicking. You can see the way this message is going, I’m very sure he will later sell this investment at lost, even if someone after telling him to leave it there he won’t agree with that, and this thing happen because he was argue to invest, FOMO was disturbing him or her.

However, Bitcoin investment is a choice for who wish to do it. So, in my own opinion, even if he talk bad about Bitcoin investment people who want to do it and have the knowledge how it works will still be interested in doing it, So to me this person should stop panicking and go further to learn the basics of Bitcoin investment and any other things that he suppose to know. Because this is one of the reason why people always advise to learn before investing.

[Patrol69]

We have our own intellect and we have the power to decide but still we cannot trust our decision making power much but when another member tells us about a matter it seems acceptable to us. There is a big difference between doing something using your own knowledge and doing something using someone else's knowledge. The other person may suggest something to you, but the way you think about your work or the way you research, but the other person does not analyze the issues so seriously, there is a high chance of mistakes in his analysis. You may say that you are doing analysis where there is a possibility of mistakes in your analysis I would say there is no problem because you have tried your best and if you are wrong even after trying your best then you can work on those mistakes later. So instead of depending on others, be dependent on yourself and try to give importance to your own decisions.

[Shamm]

We have our own intellect and we have the power to decide but still we cannot trust our decision making power much but when another member tells us about a matter it seems acceptable to us. There is a big difference between doing something using your own knowledge and doing something using someone else's knowledge. The other person may suggest something to you, but the way you think about your work or the way you research, but the other person does not analyze the issues so seriously, there is a high chance of mistakes in his analysis. You may say that you are doing analysis where there is a possibility of mistakes in your analysis I would say there is no problem because you have tried your best and if you are wrong even after trying your best then you can work on those mistakes later. So instead of depending on others, be dependent on yourself and try to give importance to your own decisions.

Agree with this mate  everyone of us have different perspective in life so it's better to do our own research in order to find a good idea that suits to our likes.  And in additional if we use someone's knowledge then there's a chance that we will regret it once we will loss and also there's a chance that we blame those person who has that knowledge without knowing that is our fault cause we use thier strategy and not ours. So it's very important if we do some research in order to prevent blaming. Cause once we fail then it's our choices.

[Alone055]

So instead of depending on others, be dependent on yourself and try to give importance to your own decisions.

It's unfortunate but most people who are joining this industry lately have been more interested in following others and being dependent on them than in learning the skills themselves and doing the things themselves. It's not that hard to learn how to trade how the market works and how you can track the movements of different cryptocurrencies or use indicators to have at least a close prediction for their future prices and base your trades accordingly, but yet, most people are too lazy to do that.

This is the reason why signal groups are filled with members who are always eager and ready to get trading signals that they can follow to earn some profit without doing any research themselves even to verify that the signals provided are correct or they are just made up signals without any authenticity only to show that they are working and providing signals.

[Stable090]

They simply dive into something that these people think a easy way for them to earn money and what they think they need to do is just buy low and sell high, but actually these newbie will only realize that its not simple as that when they are already in trading battle field.

Whenever you jump into what you have no knowledge about, then you will end up losing money at the end, the basic of trading is to buy low and sell high, but if you want to be a real trader, then it’s more than buying low and selling high. Most people will realize trading is more than buying low and selling high, but before they are going to realize that, then they will have started trading already and they will have wasted so much money.

When we are introducing people to trading, we should let them know how difficult trading is, so that the person is going to be prepared, don’t make them think trading is just an easy activity, and make sure you ask them to trade with just the amount they can afford to lose.

[Essential10]

I think intelligence comes in many forms. It is true that everyone has their own intelligence, strengths and weaknesses. Instead of comparing yourself to others, focus on your own talents and abilities. Believing in yourself and your own decision-making skills will give you a lot of energy to move forward. Seeking advice or input from others can be helpful. But in the end, I will stick to my own research decision because even if I make a mistake, I can learn from it by researching again, but if someone else's decision is wrong, I can't learn from it. Although the crypto currency world is different, if you are new to investing or trading there, I find it useful to take suggestions from experienced people, as I have seen many senior members on this forum, their analysis is very helpful.

[Asuspawer09]

Well that was really reckless for sure If you're going to enter the cryptocurrency space without even knowing basic information for sure this is surely what is going to happen to you, I mean it just doesn't make sense to do that at all especially because cryptocurrency involved money, you could easily lose it in here if he invested his money without even knowing what is going to happen or how it work something doesn't seems right for sure, I mean for sure you're probably going to be a newbie since you still new on something but this one sounds like he didn't have anything at all, I mean seriously investing on the cryptocurrency you should at least know what is cryptocurrency right?

It just doesn't make any sense since he sounds like that money was really important to him, and it was for his business then he put it into something that he doesn't have any idea about, I mean think about it, how did he even know how to buy Bitcoin or some altcoins he if doesn't know that cryptocurrency has a volatile market price, did he really expect if he put money it would just magically profit and increases over time?  

Remember that we have the forum, so I could easily advice you to always do your research plus if there were really something that you don't really understand we have the forum where a lot of experienced members could easily help you. Be wise to learn from others' mistakes so that we can avoid losing money.