Your best advice regarding Cryptocurrencies

[1miau]

Think not only cryptocurrency is our asset, but the place we store it is also an asset, so don't just invest in crypto but also hardware wallets, set aside money to have a trusted hardware wallet to keep our assets safe.

Or a good paper wallet created offline and kept offline, where we secure our coins is also a good and cheap alternative. But I agree such a procedure by creating a wallet offline is not so easy for Newbies because it is more for educated Bitcoin users or such who have gained already lots of knowledge. Paper wallets have especially the advantage to not be reliant on third party providers such like hardware wallets, for example the ledger hack was really concerning, where addresses were leaked and people were endangered.

[Cheema02]

Stay safe from scammers and hide your crypto assets.

We encounter scammers at various times in our daily lives. There is probably no one who has not faced scam attacks since we entered the online era. These attacks are more frequent or intense, especially when you have digital assets.
If you are aware, it will be easier for you to protect yourself from scammers, but if you are not aware of the scams, then the chances of being attacked by scammers increase. So as you increase your wealth, increase your knowledge.

As we are shifting to the digital world, everything is going online, we are working from home, earning money, or all kinds of services are being provided from home. That means the world is becoming digital. If we look at it, the number of fraudsters is also increasing rapidly because where there are problems, where there is opportunity, there are ways to cheat you and the number of people who cheat you increases. In such a situation the only way you can protect yourself from fraudsters is that along with earning money, you should also find ways to protect your money and your own privacy. You should know how to avoid fraudsters now and how not to respond to any unknown person or any link. If we follow these protective measures, we are told how we can avoid fraudsters. Only if we follow them we can avoid their revenge.

[The Cryptovator]

Your advice is one of the most important; no chances to ignore it anyway. Since you have advised an important thing, the next important thing for me is "Don't be greedy". Due to greedy behaviour, a lot of people lost every day. We are witnessing how people are losing their funds often for greedy behaviour. For that, increasing scams and hacking as well. Also, when holding crypto, don't be greedy; otherwise, you can't make much more money.

Here is how I lost by being greedy. I had been holding a couple of crypto, and they were at a good point. But due to greedy behaviour, I haven't sold them. After they become 4X down from the top, still I am holding them. If I weren't greedy, then I could make 4X money from my holdings. So hold for life; don't hold for a lifetime anyway.

[Pablo-wood]

My candid advice to newbies and senior crypto enthusiast and investors is to keep their risk minimal. The crypto market is always cycling if an opportunity is lost there will always be other opportunities. It's better late than losing everything to FUD.

Next keep greed far when making investment analysis and decisions. This has crippled lots of crypto experts. Learning how to control emotions will always go a long way and also boast decision making that will yield more profits than losses.

[Maslate]

My advice is, do not hesitate to enter in crypto but always invest for a long term perspective. That’s the best way to make the most of your success and profits with crypto. Otherwise, if you are just here for an instant, quick profit approach, your profits will only be temporary and after that, losses are likely waving in the long run.

Also, always conquer your emotions. High emotions will always lead you to unwanted outcomes, so always keep in track with your emotions and keep the full control of it.

[Zoomic]

I will always advise newbies never to invest in something they know nothing about. Many newbies already regret ever knowing about crypto. It is not that cryptocurrency itself is bad, but it is just too risky, and some newbies have not mastered how to manage the risks before injecting their money into it. Some losses are actually avoidable if only the investor would take some time to learn about the different types of cryptocurrencies of interest and how to avoid losses.

This advice is not only applicable to crypto; you should generally not invest in something you don't understand.

[Onyeeze]

So feel free to let us know what your best cryptocurrency advice is.

I have come across of this post before..but I will like to add more of suggestion to these, newbies are meant to follow things sequentially so that they will not fall into pit during investment
● The most important for newbies to know is how to secure their private keys, so that they won't lost their coin by any means of exposing their keys to anyone or Internet fraudsters

● Newbies should investigate properly before they go into purchasing of cryptocurrency, mostly altcoins, because if you don't investigate properly you will not know exactly the potential of a new coins, because be in a hurry to invest on altcoins lead the person to lose in such investment

● Do not be in pressure because others are investing on a particular coin and invest due to the information you got through a friend, as a newbies make sure you make your own research and know the sponsors of such coin projects before you invest, because some of the altcoins can die off at any time

● Invest on a coin that have a potential as newbies so that you will not regret after your investing, coins like bitcoin, ethereum, litecoin all the coins you that have being into existence for long

● As newbies do not borrow and invest on Bitcoin since you know that you are not conversant with cryptocurrency investment, invest with your personal capital and also invest with the amount you can afford to lose, so that when you lose you will not be pained

● As a newbies, know a wallet you store your cryptocurrency, because not all wallet are served to a store cryptocurrency, especially using exchange to store your wallet is the worst you can do, you can use electrum wallet to store your cryptocurrency, it's far better than using exchange to store your cryptocurrencies

[KiaKia]

We have always a lot to consider when it comes to cryptocurrencies, and sometimes you don't even know where to start to give newbies important advice. So: what is your best advice for cryptocurrencies?

My best advice is:

Not your Keys - not your Coins

Because storing your coins when you have your own access is always very important if you want to keep control of your coins.



So feel free to let us know what your best cryptocurrency advice is.

I respect that you just dropped one good advice but we both know that it doesn't end here, there is more.

The first step is learning how about crypto and the second step is keeping the coins safe.

That's where crypto wallets comes in, it's true that not your keys not your coins but it's not just all about getting a wallet and you are good.

Some wallets are crap, centralised and easy to get hacked.

If you want your coins to stay safe you need An Airgapped open source wallet, safe up money for a hardware wallet and get one, make sure it's open source and non-custodial atleast, for example Trezor and Keystone.

This is very important.

[doomloop]

I always advice newbies to seek knowledge first. Most of them literally come into crypto to chase money which is not bad, as we are all in for profits but investing time into learning will go a long way. They would definitely have too much to lose if they don’t understand the crypto market, they wouldn’t understand how security works, how to curtail losses, how to mitigate risks which are the most important things.

I think it is actually bad to chase money but it is better if we will only attract them to us. Also not all are in for profits. Don't forget that the main purpose of crypto is not about it. If you have a lot of money, then it is possible for you to lose a lot but these people are literally the ones who take more risks. Security is a general term. I don't think a normal person wouldn't understand it. It is just that they can only lack in knowledge regarding on crypto or how stuffs works here. It is also important to stay up to date, so that we know what are the latest tactics of the thieves.

If they take time to learn first, they would definitely make more profits and progress afterwards.

Yeah, this is something that some don't see. It is like they only see the outside or the beginning but not what's beyond it. This can also be an example of delaying gratification, which is a popular advice to improve life.

[Coyster]

Altcoins are short term projects, because most of them are pump and dump coins, a lot of people are bagholders today because they didn't let go of their altcoins when they should have. It is bitcoin that is a long term project and one that you should hold for a long term, because it has utility and it cannot "disappear" like many altcoins do. When you understand this, it would help you to focus on bitcoin and learn the basic and important things about it.

[SamReomo]

So feel free to let us know what your best cryptocurrency advice is.

Never trust anyone in crypto world! Never buy weak shitcoins that can pump 1000x and dump within seconds. When a stranger tries to help you out on Telegram and says, that he's an insider or he can help you with new 1000x projects, never listen to that person and never buy a coin that he/she suggests you. Never trust anyone on Telegram who's consistently shows his/her profits. Do your own research and then act rather than listening to what others say.

[Ziskinberg]

Do not set your financial earnings only from cryptocurrency. That can never guarantee stable and sustainable source of income. Instead, see crypto as a side hustle. It would be good if it brings you good profits, but it doesn’t affect you that much either if you don’t make profits from crypto. That kind of mindset will make you live life at ease and peace.

Do your own research with crypto. Do not rely on others for crypto knowledge acquisition, but make your own thorough research. It’s simply a must before you end up trusting crypto or bitcoin.

[Hyphen(-)]

My best advice is:

Not your Keys - not your Coins

Because storing your coins when you have your own access is always very important if you want to keep control of your coins.



So feel free to let us know what your best cryptocurrency advice is.

This has always been the best advice because our privacy is very important especially people investing huge amount of money in Bitcoin. Using Cex will not be safe for them because we have seen how so many exchanges get hacked and some went bankrupt, and the government can as well mount pressure on them to give them your details which is very possible and they will give because they are afraid of been banned.

For newbies to cryptocurrency, I always recommend studying learnmeabitcoin.com for basics knowledge about Bitcoin, blockchain technology, wallets, keys and addresses, and so on; if they can have some basic understanding in this recommended book, they can understand the concept of privacy and they will know how to differentiate wallets, and how important private keys and seed phrases are so as not be making mistake that will caused them their entire wealth.

[laijsica]

Altcoins are short term projects, because most of them are pump and dump coins, a lot of people are bagholders today because they didn't let go of their altcoins when they should have. It is bitcoin that is a long term project and one that you should hold for a long term, because it has utility and it cannot "disappear" like many altcoins do. When you understand this, it would help you to focus on bitcoin and learn the basic and important things about it.

I agree with you that altcoins are short term projects. And most of these altcoins are seen to be more prone to downtrends than uptrends most of the time. Holders go through volatile times and are at high risk of losing their capital. Bitcoin is a potential investment project and store of value. For investors with a long term mindset, buying and increasing their holdings of Bitcoin is expected to be more profitable than buying shit coins. For most new investors there is a temptation to get high profits and focus on buying shit coins but they later get involved in Bitcoin investment by observing the market and it is a great decision for them.

[jcojci]

My best advice for cryptocurrencies is to store your coins especially Bitcoin in your private wallet and not store the coins in the exchanges and don't let anyone know. That is what every investor must do with their asset and protecting from bad people. We don't know who will have a bad intention of stealing our assets so that is why we must be careful about anything. It is our responsibility to take care of the assets. It is important learning how to secure your coins in a private wallet so you don't have to worry.

[BTC_pokaop]

My best advice is to only invest in Bitcoin, if you invest in altcoins, shitcoins, memecoins you will be scammed.
Don't invest more than you can afford to lose, store Bitcoin in a secure wallet.
Buy Bitcoin and hold for at least 10 to 12 years.

[Baki202]

Think not only cryptocurrency is our asset, but the place we store it is also an asset, so don't just invest in crypto but also hardware wallets, set aside money to have a trusted hardware wallet to keep our assets safe.

Or a good paper wallet created offline and kept offline, where we secure our coins is also a good and cheap alternative. But I agree such a procedure by creating a wallet offline is not so easy for Newbies because it is more for educated Bitcoin users or such who have gained already lots of knowledge. Paper wallets have especially the advantage to not be reliant on third party providers such like hardware wallets, for example the ledger hack was really concerning, where addresses were leaked and people were endangered.

When you save offline, it makes things easier and easier because the mistake people make is wanting to store their funds in an exchange because exchanges do not guarantee the safety of your assets, and when your assets are safe, then half of your problem is solved, but the first thing has to be that as a newbie, you try to get yourself a better way of learning about these things, and when you learn about these things, then it becomes easier to keep because of the knowledge that the newbie already has, and this is why knowledge is as important as the asset itself.

[Churchillvv]

There is no harm in trying, you can start your journey in bitcoin from anywhere but what matters the most is start first

Most of the time guys who are supposed to do well with bitcoin or crypto are mostly stuck up with the questions where do I start, this question from survey in my country has made many to give up on the bitcoin dream or crypto dream.

You've got YouTube it's a free university, you've got online books, find a job then start accumulating something whether altcoins or whatever you can start with by the time you spend some months in it you will find out that bitcoin is the real deal then head over to it but then start.

[coupable]

My best advice is to only invest in Bitcoin, if you invest in altcoins, shitcoins, memecoins you will be scammed.
Don't invest more than you can afford to lose, store Bitcoin in a secure wallet.
Buy Bitcoin and hold for at least 10 to 12 years.

I support your opinion on limiting investment to Bitcoin and not any other cryptocurrency if the investment should last for 10-12 hours, as you indicated (I consider this a very long period; no one can afford to be patient). Newcomers to the cryptocurrency investment space are often influenced by social media posts tempting them to invest in cryptocurrency projects they know nothing about, and the most they know is that the token is listed on Binance or KuCoin. Therefore, I believe that trading platforms are partially or completely responsible for the many scam projects that appear and disappear before anyone notices.

My advice has always been to try to make this forum your crypto friend, especially at the beginning of your journey. Simply put, there's nothing better than the Bitcoin forum to learn about this space and benefit from it, whether you're an investor, a technology enthusiast, or someone who needs crypto for normal use as a currency and payment system.

[Ullaa]

Never investing more than you are ready to lose is my advise.  The market is quite volatile. therefore, regardless of how nice anything looks. Real rapid flips can occur here. Always do your own research, never rely only on hype.