Newbies and Cryptocurrency

[Sketchytum]

Welcome note for Newcomers to the cryptocurrency world.
Basics: Cryptocurrency is basically a virtual currency that uses cryptography for security and it is decentralized which makes it uncontrolled by any government or institution.

Key concepts:

1. Blockchain: is like a public book that keeps record transactions across network of computer which allows secure, tamper-proof and transparent data storage and storage.
2. Mining: The process of verifying transactions and creating new coins.
3. Wallet: A software program that stores, sends, and receives cryptocurrencies.
4. Exchange: A platform where you can buy, sell, or trade cryptocurrencies.

Tips for newbies:

Do your own research Learn about different cryptocurrencies and their use cases.

Invest wisely: Don't invest more than you can afford to lose.

Use reputable exchanges: Choose well-established and secure exchanges.

Keep your wallet secure:Use strong passwords and enable two-factor authentication.

Stay up-to-date: Follow cryptocurrency news and trends.

Note: Investing in cryptocurrency carries risk. Always prioritize education and caution.

[Lida93]

As necessary as they could be I think these regular tips that have made many threads in the forum to which any newbie that's keen to learn would have come across them.

I implore you to focus self improvement by focusing on practicing in reality what have learned as a newbie more than wanting to teach newbies alike.

I see this is your fish post in the forum. Welcome to bitcointalk community. Check this>> Newbies Stop Teaching When You Need To Learn.

[Mia Chloe]

One of the biggest problems a person will ever face in the crypto space especially in the case of altcoins is diving into investment. Without gaining proper knowledge. When we talk about knowledge, we are not only referring to things relating to trading but rather more of how to secure your crypto holdings and also how to Identify to right coins to invest in to avoid falling for pump and dump schemes.

Use reputable exchanges: Choose well-established and secure exchanges

Most well established and reputable exchanges you are referring to make use  of KYC for their verification and as a crypto investor who is cautious about his privacy and personal data, you would most likely skip making use of exchanges and stick to P2P where there would be no need to share and personal data for a KYC verification.

[Churchillvv]

Perhaps I don't know what was your intention of creating this thread but you should know it's a common knowledge that almost every beginner in the crypto space would have before after find a community like this but I believe that this is your wonderful way of improving yourself by teaching the few you have gathered.

well I would love to say you have made a good decision I'm not discouragjng you but try more other resources like learn-me-a-bitcoin website you could learn more specifically about bitcoin and I don't even think the position or board which you made this post is the actual place you're supposed to post them.

I would also advise you not to plaigerise or use AI in creating or writing your works because it will nigate the reason we are hear to take information from each other not from computers or machines. best of luck.

[Plaguedeath]

Keep your wallet secure:Use strong passwords and enable two-factor authentication.

The key of secure wallet is the wallet you use, the way you manage it and how you store the seed phrase.

Strong password and 2FA is only to protect you against physical access from your friends or other people who want to open your wallet. Without knowing the password and 2FA codes, they can't open your wallet even they have your device.

[gunhell16]

As necessary as they could be I think these regular tips that have made many threads in the forum to which any newbie that's keen to learn would have come across them.

I implore you to focus self improvement by focusing on practicing in reality what have learned as a newbie more than wanting to teach newbies alike.

I see this is your fish post in the forum. Welcome to bitcointalk community. Check this>> Newbies Stop Teaching When You Need To Learn.

You are also right in what you mentioned, dude. I have read many people in this forum who have given or made warnings about communities entering the trading community to get profit in the crypto space. Although there is nothing wrong with what the OP said,.

But even so, it's always better that we can give reminders to everyone here in our community if there are at least some sources to say that there is something really drawn from the topic. But overall, OP's reminders are still fine.

[SatoPrincess]

Not all cryptocurrencies are decentralized. Do not confuse Bitcoin with altcoins. Bitcoin is the only truly decentralized cryptocurrency. Shitcoins and tokens are not decentralized. When making topics that is directed at newbies such as this one, it is recommended that you verify every information you share. You cannot have poor knowledge of the subject and want to teach it to someone else.

For anyone who wants to learn more about cryptocurrency. You can read the book, the internet of money by Andreas M. Antonopoulos. You can also watch his videos on YouTube for more information about cryptocurrency.

[Mayor of ogba]

These are common tips used in the crypto world to help newbies stay informed. I would like to add more tips that will help newbies protect their assets against scammers: Newbies should not connect their phones to public WiFi so that they will not expose their phones to malicious attacks that would cause them to lose their funds. Newbies shouldn't allow anybody to get access to their seed phrase or private key; if not, they will lose their assets. If you find yourself in a new place, always learn the rules and regulations that govern that place so you can stay there without having any problems.

[robelneo]

Welcome note for Newcomers to the cryptocurrency world.
Basics: Cryptocurrency is basically a virtual currency that uses cryptography for security and it is decentralized which makes it uncontrolled by any government or institution.

Note: Investing in cryptocurrency carries risk. Always prioritize education and caution.

I always encourage newbies to focus on Bitcoin, the father of cryptocurrency, before they start investing in the market. They should first read its whitepaper to understand Satoshi Nakamoto's purpose in creating Bitcoin.

Many newbies started on the wrong foot. All they learned and wanted to study was how to make a profit investing and how to get rich, so they ended up investing in pump-and-dump coins and what's trending in the market.

The industry is very deceptive, and once you start on the wrong foot, you will lose a lot of money, so do the right thing first by learning about the history of Bitcoin and how the market started.

[Aanuoluwatofunmi]

Altcoin especially is not what we can just enter like that without adequate research and information about what project we are going for, even the experience ones make mistakes and got scammed in this not to talk of the newbies who may be lurking around for opportunities in them, when they are yet to get used to the whole system and know the possible risk associated in altcoins investment, that if we cannot afford to loose the money, we shouldn't go for it.

[Emmanuel_Pounds]

One of the biggest problems a person will ever face in the crypto space especially in the case of altcoins is diving into investment. Without gaining proper knowledge. When we talk about knowledge, we are not only referring to things relating to trading but rather more of how to secure your crypto holdings and also how to Identify to right coins to invest in to avoid falling for pump and dump schemes.

Use reputable exchanges: Choose well-established and secure exchanges

Most well established and reputable exchanges you are referring to make use  of KYC for their verification and as a crypto investor who is cautious about his privacy and personal data, you would most likely skip making use of exchanges and stick to P2P where there would be no need to share and personal data for a KYC verification.

One of the major knowledge newbies really need is how to secure their investment by getting to know a reputable exchange that has passed the test of time and has good projects listed on. From experience, before i started using Bingx I have invested in some exchange just like FTX, I ended up losing all my assets. I would advice anyone to be careful with their choice of exchange

[beerlover]

Do your own research Learn about different cryptocurrencies and their use cases.

Invest wisely: Don't invest more than you can afford to lose.

Use reputable exchanges: Choose well-established and secure exchanges.

Keep your wallet secure:Use strong passwords and enable two-factor authentication.

Stay up-to-date: Follow cryptocurrency news and trends.

Note: Investing in cryptocurrency carries risk. Always prioritize education and caution.

DYOR is important, a lot of newbies think that "I saw this dude who got so many picks right, so I am doing what he says" as their research and that's the trouble we are in right now, I would say that's not really a good idea and we should definitely avoid that if we can, would be very lovely.

I am not saying that we are going to end up with great results, will not be great when we are noobs and it is normal that we are going to face some issues, but we need to get better at this one way or another. I know that it is going to take some time, but we are going to make some profit from this after a while, so just give it some time to learn how to research and do not trust influencers and so forth online you see, because they will make you lose money.

[DeathAngel]

My tips for newbies would be to do your research to understand the basics of blockchain & cryptocurrencies before investing. Start small by investing only what you can afford to lose, minimising the risk. Use reputable exchanges to buy & trade ensuring security & reliability. Secure your assets with hardware wallets for long term storage & enable 2FA. Stay updated by following news & trends in the crypto space for informed decisions. Always beware of scams, if an opportunity sounds too good to be true, it likely is.

[KillerEyez]

This can also be elaborated to how to buy altcoins, recommended cryptocurrencies and of course a lot about new crypto presales.
We cannot simply eliminate altcoins from the overall cryptocurrency discussion.... can we?

And yes a newbie does need to be schooled about altcoins as well, because as a newcomer you are tempted to buy altcoins in order to get hands on quick money.
As much as Bitcoin is promising, stable (compared to altcoins) and the boss of all, altcoins have made their mark in the long run.