First Bull run: things to note as a newbie

[EL MOHA]

This thread is more like an onboarding thread for newbies as they are set to experience there first bull and also an insight thread for OGs

As this year begins we all know how the bitcoin history Dey take behave, the past trend na after each halving comes bull run, last year we bin don experience halving and now we Dey position to actually witness bull run.

How to get onboard

For me the easiest way is to simply buy the coins with huge potential and low risk and the coin that ticks this box is bitcoin. But that doesn’t mean I am against Altcoins too but as a newbie you’re better off with bitcoin than gambling ok Altcoins you have no knowledge about, that’s why you read posts from brainboss, CharlesTim and Igehh warning against Altcoins because there volatility is usually very high.

When to invest

The best time to invest has always been when the market is down or during dips, but is it ideal to wait for bottom? Personally I will say for bitcoin it is not advisable rather I will say one can DCA anytime they have funds and stay position for a longer time. Waiting for dip might be too risky because it may not come since there is no perfect prediction for bitcoin. As for Altcoins avoid buying the top there are you’re easiest way back to village.

When should I take profits,

This is one challenge that many newbies face, taking profits is simply base on your strategy don’t wait for too long most especially Altcoins, take profits when you have 2x, 3x or more, there is never a regrets in taking profit. Don’t go searching for 100x only few coins with high risk can give that now. As for bitcoin I will say I can only see it doing at most 2x from current position, my realistic target is 1.5x from here ($108k).

Security,

This is the most important aspect of investment, do not invest for scammers to take advantage on.

Tips for security are:
1. Be your bank by using non-custodial wallets; there are many wallets but my pick is do not go for closed source wallets or exchange in-built wallets. Avoid storing your coins on exchange.

2. ⁠ have a very good back of your seedphrase or private key the most advisable means has always been prioritizing offline back up and never take your wallet keys on to the internet. Back them up in different locations for safety against natural disasters or hazards.

3. ⁠Avoid getting your wallet hacked through phishing links; this is the easiest way most people lose there assets, seperate your wallet storage from online devices. For airdrop farmers try as much as possible to have different wallets, scammers are working day and night to get your funds,

Avoid future/leverage trading,

As a newbie my advice is to avoid all this future trading because without knowledge they are the easiest means to liquidate your assets back to the market. I my self I am a trader but it is very hard to be profitable so take your time before diving into this niche.

Lastly bitcoin should be your save heaven for investment, have a portfolio with bitcoin taking almost 80% of it.

Start investing today, tomorrow might be too late

[Charles-Tim]

Avoid future/leverage trading,

As a newbie my advice is to avoid all this future trading because without knowledge they are the easiest means to liquidate your assets back to the market. I my self I am a trader but it is very hard to be profitable so take your time before diving into this niche.

Newbies do not know much about liquidation. Most of the exchanges leave 10x as default even for those volatile coins. Exchanges like MEXC has gone up to 300x for bitcoin. Even going more than 2.5x for bitcoin is too much. Better not to go up to 1x for altcoins. Not to trade is truly advisable.

Lastly bitcoin should be your save heaven for investment, have a portfolio with bitcoin taking almost 80% of it.

I prefer 70% savings to be on bitcoin. But it require analysis and not just invest at anytime.
10% on altcoins
19% on trading (2% out of the 19% for trading but I can increase it at anytime)
1% on gambling

[Hatchy]

Alot of things plays various roles when it comes to the bull season. Newbies should be concerned about seizing the best of it while at the same time applying proper risk management. Crypto Investment is tricky and at same time one of the simplest investment out there. If you lack the right knowledge on how to go about it, you will end up being among that percentage of investors that losses.
First, you should invest only on coins with good market cap avoid too much of meme tokens. They are highly volatile and can be liquiditated any time. Again, knowing how to store your coins is very important. Lastly you should be able to know when to enter and exit the market. All these plays a vital role when it comes to a beginner.

[BIT-BENDER]

This are good idea that newbies can take home during this bull run or even all the time but I will like to add
1. Avoid investing what you can't afford to lose
2. Avoid fear of missing out, fear uncertainty and doubt
3. Don't be greedy. The bull run is a good time for scammers to prey on greedy people.
4. Learn how to secure your investment, this is very important

[DPHOR]

Lastly bitcoin should be your save heaven for investment, have a portfolio with bitcoin taking almost 80% of it.

Start investing today, tomorrow might be too late

I so much love everything you put down here because is not easy as someone who has experience over the forum and in bitcoin in generally so when you are talking you talks with experience.

I have read numerous comment over here about wallets and phishing sites couples with altcoin and meme coin known to be shitcoin are what newbies rush to invest on and when it hit on them hardly they lament for the lost, so the  best is just to focused on bitcoin and even as that they shouldn't invest at the top rather should look out when the market is dip.

Upon all, we should only invest with the amount we can afford to gamble with than putting heavy amount with the mindset that we would gain 2x or 10x, if targeting such number then it should be for at least 4-10 years interval to see how the bitcoin market reacts over the period of the time.

[Ruttoshi]

It's better that a newbie should stay away from trading and only focus more on bitcoin investment because trading is very risky and complex. Investment should be first and let us also be thinking of having our own little bitcoin reserve because the way the US government and some big tech firm are happily using bitcoin as strategic resweve. You shouldn't be left out.

Plan on long-term investment and save your future from financial crisis. Start buying if you don't have any bitcoin and use DCA strategy for accumulating more bitcoin.

[Lida93]

Nice one! Thanks for the knowledge, but is it advisable for a newbie to go into trading already, will it not be better for a newbie to learn the processes involved first, and have gain good knowledge about how the system works before trading? Just saying though

You have answered your question in the later part of your comment but I will just buttress on it. Typically is common to have newbies rush into trading because they want to make some cash or because they have spent a few hours watching some so-called YouTube trading guru and so feel they can now trade and make profit. But that's a fatal danger you as a newbie is plunging yourself into.

Trading can be very difficult and same time simple. Difficult if you have gotten a rich knowledge about it both technical and fundamental aspects and also mind how to guide your emotions and having a management risk too. It gets to be simple when you have greased yourself with all these. But what you've to know is that, no matter how good you're you will still make losses but they will be few with bigger profits.

[promise444c5]

It's better that a newbie should stay away from trading and only focus let us also be thinking of having our own little bitcoin reserve because the way the US government and some big tech firm are happily using bitcoin as strategic resweve. You shouldn't be left out.

Sure! but..
It's still yet to start, it's  all just plans and rumors for now until it's being done then it officially becomes a news...
Hence real investors shouldn't buy just for FOMO, so much people are just after the profit that it will yield immediately after all the strategic reserves rumors becomes a news and start selling off for some profit which i don’t  see it to be bad at least that’s their aim, even though some might still end up been dissapointed  if they can't get what they want within a short period of time..instead investors should buy to hold for future when it all going to make sense and not just because of the Bitcoin reserve thingy., don’t get me wrong it will be a goood news for Bitcoin  actually  ...

[Josefjix]

When to invest

The best time to invest has always been when the market is down or during dips, but is it ideal to wait for bottom? Personally I will say for bitcoin it is not advisable rather I will say one can DCA anytime they have funds and stay position for a longer time. Waiting for dip might be too risky because it may not come since there is no perfect prediction for bitcoin. As for Altcoins avoid buying the top there are you’re easiest way back to village.

The time to invest has always been NOW especially on Bitcoin, it's not ideal to always wait for the dip because the capital may not be available when it's down, so the best time is always, NOW. If after buying at a certain price, and it's still going down, never stop to still buy. It is just often favorable when consistent purchase is been done because it's keeps you at the edge for profits all the time.

As for altcoins, if you are ready for short term profits, then it's advisable to play a concrete games on the meme market, it's simply the market with the fastest profits with the fastest losses too. So choose the game you can best play and stay focus on it.

[Shadiq]

There is no specific time to buy Bitcoin. A newcomer should enter the investment without any delay. However, you need to ensure:

1. Discretionary source of income / alternative source of income.
2. Basic knowledge about investment and Bitcoin.
3. Unnecessary money after meeting daily needs.
4. Investment strategy (DCA)
5. Long-term plan.
6. Gain knowledge about investment maintenance strategies.
7. Ensure investment security.

Ensure the first 5 things mentioned before starting the investment and the next two things are the next steps of the investment.

[Amphenomenon]

Have a long term plan at least a year or two for altcoins while bitcoin more, this is the main reason for investments to HODL for long and not just selling except maybe the bear season is closed and you may choose to sell and buy again during the bear.

Another security tip, ignore and be cautious of those you speak to about your profits or the money  you have invested or you will likely be putting your life and love ones at risk of their life from kidnappers or armed robbers.

2. Avoid fear of missing out, fear uncertainty and doubt

In the bull season, FOMO should be avoided, the urge to gain from it may cost you to lose more, just focus on another coin. The current meme coin TRUMP is an obvious example. While it may bounce back that's still unlikely since it is a meme coin.

[Out of mind]

This are good idea that newbies can take home during this bull run or even all the time but I will like to add
1. Avoid investing what you can't afford to lose
2. Avoid fear of missing out, fear uncertainty and doubt
3. Don't be greedy. The bull run is a good time for scammers to prey on greedy people.
4. Learn how to secure your investment, this is very important

Yes, it is very important for beginners to know about these things. This is applicable for all types of people. You should invest the amount of money you can afford to lose. There are many doubts or fears of losing, so it is better not to have these thoughts. Greed always makes people cheat, so greed should be avoided, keeping investments safe is also very important. So it is good for any person to know about these things, especially for beginners.

[Josefjix]

Have a long term plan at least a year or two for altcoins while bitcoin more, this is the main reason for investments to HODL for long and not just selling except maybe the bear season is closed and you may choose to sell and buy again during the bear.

Nowadays, I don't believe in altcoin again because of the way many are emerging into the market everyday, they'll just get pumped during their new listing and remain dump for longer time. I was always believing Binance also for listing good quality products but ever since this new managing director came, Binance has ended it's unique reputation and now in for listing shitty products just for gains. Binance and Coinbase had been the major cex for listing promising altcoin which can be good for holding, my trust in Binance is now limited.

Another security tip, ignore and be cautious of those you speak to about your profits or the money  you have invested or you will likely be putting your life and love ones at risk of their life from kidnappers or armed robbers.

It all depends how much profits you gain, do you think arm robbers will break in for $50 profits,? I know though is good to keep mouth shut on your gains, but for the reasons of theft, I think it's not going to happen. Except you'll be disturbed from your loved ones and relatives asking for favour all the times

[CryptopreneurBrainboss]

This are good idea that newbies can take home during this bull run or even all the time but I will like to add
1. Avoid investing what you can't afford to lose
2. Avoid fear of missing out, fear uncertainty and doubt
3. Don't be greedy. The bull run is a good time for scammers to prey on greedy people.
4. Learn how to secure your investment, this is very important

Right here is the summary of everything wey newbie wey just dey experiment the bull market for the first time suppose know. The rest na as them dey advance for the industry but as a first timer, wetin sure you pass na to trust Bitcoin 100% . No go follow wetin those influences dey tell you because na to only use you chop belly full na wetin then dey do. No go they chase every altcoins wey you see thinking say na so people wey done make am for the industry say na so them do.

There are two ways to make wealth here, the first na by hodling and the second na by getting in earlier and existing while you still can. This one get to do more with altcoins but if you never get enough experience for the market make you no involve yourself or people wey get the experience go use you do liquidity.