Don't start your crypto journey with trading/shitcoin

[Merit.s]

It's good that beginners know the right path to follow when they just come into the cryptospace. Some newbies with zero knowledge of bitcoin thinks is a get rich quick scheme and they rush into trading which is the normal mentality of buy low and sell high which is easy said than done as a naive person in the market. When you rush into trading, you have rushed into throwing your funds into thin air because to be a professional trader take a very long time and lot of hard work. That doesn't guarantee that you wouldn't run at loss as a professional trader.

Another set of people are those who think that bitcoin is too expensive and decide to go for shitcoins looking for whatever new shitcoins that will be listed in exchange due to deceitful words that the coin will be the next bitcoin or do better than bitcoin in future. They will be happy stacking shitcoins and end up regretting in the long run when there portfolio depreciates overtime.

If you find yourself in these two categories as mentioned above, you are not going to end your crypto journey in a happy way if you don't buy bitcoin, grow your portfolio and hodli for the future because in the long run traders and shitcoiners will run at loss just like gamblers. Don't allow your decisions today affect your financial situation in future. If you love gambling go to the casino.

[Oshosondy]

About trading, I will not discourage anyone from learning it but it is very important for the newbie to know that all the money he will use to trade would all be lost. I do not think there would be a newbie trader that will be so perfect to avoid the loss.

If he can use small amount of money that he can always afford to lose to trade, there is no anything bad in trading. Also it is good to know that most traders are losing.

About buying of altcoins, newbies may not know how they are and they can fall into the trap of coins that will be dumped or not increasing in price. Making researches about the coin to buy is very important. The first should be bitcoin and there is no research needed for that. Also good to use the amount of money that they can afford to lose.

[un_rank]

Some newbies with zero knowledge of bitcoin thinks is a get rich quick scheme

This mindset is the major problem and would lead them to losses whatever they do. Anyone who thinks that this is a means to get rich quick will not dedicate so much time to learning or give investments enough time to grow. If they actually buy bitcoins, they will have the expectation that it should just keep growing and easily sell at a loss if the market goes down.
It will be the same with trading too, they will keep throwing cash at bad trades and easily get burnt out.

Getting the right mindset is the first step, then knowing what to look for and where to look for it to gain more knowledge will be the next, then they try to get a grasp of the basics.

- Jay -

[OcTradism]

Some newbies with zero knowledge of bitcoin thinks is a get rich quick scheme and they rush into trading which is the normal mentality of buy low and sell high which is easy said than done as a naive person in the market. When you rush into trading, you have rushed into throwing your funds into thin air

It's hard for them to stay inactive while holding and investing require a long time before profit comes to their portfolio. In the meantime, they will lose their patience, then become no longer disciplined with holding and changing to be active traders. It's dangerous for newbies who lack of necessary experience in a volatile market that is sensitive to news, FUD and market manipulation. Newbies are also not experience with trading to know risk of market liquidations if they use leverages and futures trading types.

They possibly are also too confident with their trading positions and ignore one of best weapons in trading, Stop loss order.
[Trading Guide] One of the Best Weapons in Trading.

[jcojci]

It is wrong if they think that Bitcoin is a rich quick scheme no matter if you use trading or investment. You need to learn more about Bitcoin for trading and investment so you will be able to make a profit. But trading will be more difficult because you must learn about analysis and other things and that need process to master it.

If they want to trade, they must prepare many things related to trading and have patient to start because they should find the time to enter the market. Trading shitcoin will be more difficult because you must analyze one by one and find the right coin. That will need more time to analyze the coin before you can get the right.

[btcltcdigger]

Unfortunately, for many people, BTC andx ETH are out of reach financially, so they have to start at the very bottom, shitcoins and memecoins.
But when you think about it, its not all that bad, it gives them valueble lessons in crypto for only few dolars of investment

[Joy- maker]

I we not discourage anyone from trading, but before you start trading take your time and learn trading very well, because trading is very risky you can loose all your money in an twinkle of an eye. As for newbies the best way to approach crypto is by buying bitcoin and hold for long term 5 to 10 years or longer using the DCA method and avoid holding shitcoins for they are no store of value with potential returns like bitcoin and even if you must trade as a newbie trade with only 10% of your discretionary income.

[Alpha Marine]

For anybody new to Bitcoin, trading shouldn't be among the first things on your mind. How can you trade what you don't fully understand? You have to first have an understanding of what bitcoin is before you can talk about learning how to trade. Take your time and study bitcoin. Know its history and its price history. Know why the price fluctuates and what makes it fluctuate. Every single aspect of Bitcoin should be understood so you know what you're dealing with. After all these, if you feel you will be good at trading, then you can proceed to learn trading.
I always say trading is a skill, and like every other skill, it needs to be understood. The same way you'd learn any other skill, that's how you should learn bitcoin trading.

[AVE5]

Another set of people are those who think that bitcoin is too expensive and decide to go for shitcoins looking for whatever new shitcoins that will be listed in exchange due to deceitful words that the coin will be the next bitcoin or do better than bitcoin in future. They will be happy stacking shitcoins and end up regretting in the long run when there portfolio depreciates overtime.

That's certain. Some people hearing the price of bicoin tends to feel discouraged being questioned "how can they be usable to rise such amount of money to buy bitcoin"? I take this set of people to be illiterates in the crypto market and they seriously need basic education that let them know that investing in bitcoin doesn't mean you'll have to buy a whole of 1 bitcoin but the fractions of it when know to be Satoshi.
There're also some who may understand the crypto market some bits but are adamant to understand the potential value different between bitcoin and other coins. These set of people literally buys new listed coins heartedly and hope to be extremely successful on it that the coin will perform valuably like that of bitcoin. So when we say we regrets not buying bicoin when we were earlier introduced to it comparing to the up to date price, those skeptics beginners or I should call them ignorant investors tends to take caution of our regrettable experience of our late embracing of bitcoin and then rushes to invest on those coins without undergoing research of the coins. So then ends up wasting their money on shitcoins while some falls a total Scam.

[suzanne5223]

Yes, it is never a good decision for newbies with zero knowledge to start their crypto journey with traading, or hodling memecoin aka shitcoin due to th high volatility of the market and the crypto trading been more than just buying low and selling (which is the logical believe of some newbies about crypto trading). Besides, is just an act of gambling where the house is always favored.
But, if the newbies have the required knowledge, there's nothing wrong with starting with trading Bitcoin since everyone of us are good in an area than each other, and the trading space may be the venue where they may thrive.

[Patikno]

It's good that beginners know the right path to follow when they just come into the cryptospace. Some newbies with zero knowledge of bitcoin thinks is a get rich quick scheme and they rush into trading which is the normal mentality of buy low and sell high which is easy said than done as a naive person in the market. When you rush into trading, you have rushed into throwing your funds into thin air because to be a professional trader take a very long time and lot of hard work. That doesn't guarantee that you wouldn't run at loss as a professional trader.

Another set of people are those who think that bitcoin is too expensive and decide to go for shitcoins looking for whatever new shitcoins that will be listed in exchange due to deceitful words that the coin will be the next bitcoin or do better than bitcoin in future. They will be happy stacking shitcoins and end up regretting in the long run when there portfolio depreciates overtime.

If you find yourself in these two categories as mentioned above, you are not going to end your crypto journey in a happy way if you don't buy bitcoin, grow your portfolio and hodli for the future because in the long run traders and shitcoiners will run at loss just like gamblers. Don't allow your decisions today affect your financial situation in future. If you love gambling go to the casino.

Well, I also often find people who are new to crypto and they immediately trade altcoins, or even some obscure shitcoins. I noticed that this happens because they are usually influenced by other people who have managed to make big profits, when in fact this is very rare, and not everyone can get the same thing, and in the end most of them give up. Therefore, I usually advise people like that to learn Bitcoin fundamentally, so I feel they will not get lost, because we all know that the future of Bitcoin is already real in front of our eyes, and it's just a matter of time. From all of that, I suggest for anyone to be an investor, and not a trader. However, whatever you do is your own right, so be wise every time you step.

[LogitechMouse]

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If you find yourself in these two categories as mentioned above, you are not going to end your crypto journey in a happy way if you don't buy bitcoin, grow your portfolio and hodli for the future because in the long run traders and shitcoiners will run at loss just like gamblers. Don't allow your decisions today affect your financial situation in future. If you love gambling go to the casino.

I don't blame those newbies out there that are rushing out and trying to trade before knowing something about cryptocurrency because they might think that they know it all, and they can make money into trading already. There's a famous quote and it says "Experience is the best teacher", and it can be applied in trading because experience will teach you and let you realize that it isn't as easy as anybody thinks on it. It will take years, lots of adjustments, lots of attitude change, and lots of money as well before somebody becomes a professional traders.

I wonder who are these newbies that going into buying shitcoins first instead of buying other top altcoins aside from Bitcoin.  Nevertheless, it's a bad way to start your investing journey. Maybe they saw somebody who made 100x on their investment and got attracted on it thinking that they can do it that's why they did it as well.

Starting on these 2 scenarios is inevitable, but learning from these mistakes makes you a better investor. There's nothing wrong if you started in a wrong because you're a newbie as long as you're learning from those mistakes, and you're making better decisions moving forward.

[Peanutswar]

For those who really new into terms of crypto I guess one of the thing they do is to search where to find to invest and we know there's a lot of content creator right there in social media promoting different projects, promoting different coins and if you are quite blindly with this possibly those beginners will follow their steps by that could be a two outcome they got lose their money because of wrong decision or they make their first gains into crypto, could be different story and lesson learn from both sides. Sooner or later, they will realize who they need to follow or not and get more knowledge it. Reason why having a circle in crypto for me is a must so you can get together a knowledge, what and where to avoid.

[hd49728]

For those who really new into terms of crypto I guess one of the thing they do is to search where to find to invest and we know there's a lot of content creator right there in social media promoting different projects, promoting different coins and if you are quite blindly with this possibly those beginners will follow their steps by that could be a two outcome they got lose their money because of wrong decision or they make their first gains into crypto, could be different story and lesson learn from both sides.

They are influencers and master necessary skills and things to do for amplifying their works on social media and maximizing effects. They don't care about moral principles at all and at the end, if their channels get more followers, their sites get more traffic, their affiliate income increases, they will feel happily with their works not matter it is good or ugly ones.

Sooner or later, they will realize who they need to follow or not and get more knowledge it. Reason why having a circle in crypto for me is a must so you can get together a knowledge, what and where to avoid.

I agree that it's matter of time for enough experience so that people will understand about influencers as well as their common traits. Then they will recognize that how regularly influencers make lies.

Bitcoin videos on Youtube

[Die_empty]

Newbies can go into trading after they have acquired some level of knowledge. They don't need to be professionals to start engaging but they should trade with small amounts since they might make some mistakes. As they keep trading, more knowledge would be gained.

Anyone who thinks that Bitcoin is expensive is not informed.  You can buy Bitcoin based on your financial status. Those who buy cheap altcoins are just greedy since they assume that they can make a fortune within a short period. I don't advise newbies to buy altcoins; Bitcoin is easier to profit from. 

[Su-asa]

Becoming a professional trader is not possible in a month, it's a gradual process thing. And it depends on how consistent the trader could be, the more newbie continue trading the more they get experience in trading. However, you are right about your post, crypto beginners often think that Bitcoin is a get rich quick scheme that's why they start with trading through buy when low and selling when high. But it's actually obvious that it is not the good way to deal with Bitcoin because trading is difficult than investing and through long term investment you can make more profits.

[Pi-network314159]

It's good that beginners know the right path to follow when they just come into the cryptospace. Some newbies with zero knowledge of bitcoin thinks is a get rich quick scheme and they rush into trading which is the normal mentality of buy low and sell high which is easy said than done as a naive person in the market. When you rush into trading, you have rushed into throwing your funds into thin air because to be a professional trader take a very long time and lot of hard work. That doesn't guarantee that you wouldn't run at loss as a professional trader.

I will not discourage anybody or newbie that want to trade , but if they want to trade they should trade with extreme carefulness. They should learn properly to avoid loses. They should not think that trading is a get rich quick scheme or a poverty alleviation program. A newbie that want to trade should trade with the amount he or she can afford to lose otherwise they will lose all too quickly.

Another set of people are those who think that bitcoin is too expensive and decide to go for shitcoins looking for whatever new shitcoins that will be listed in exchange due to deceitful words that the coin will be the next bitcoin or do better than bitcoin in future. They will be happy stacking shitcoins and end up regretting in the long run when there portfolio depreciates overtime.

I was a victim of this set of people who usually look for newly listed shitcoin on coingecho, I will buy them in bulk and and stack hoping it pump high or I will be expecting it to be like Bitcoin someday without knowing it's a trap, only for me to discover that they are honeypot that after sometimes it turns rugpull in my wallet.

[cryptoaddictchie]

If you find yourself in these two categories as mentioned above, you are not going to end your crypto journey in a happy way if you don't buy bitcoin, grow your portfolio and hodli for the future because in the long run traders and shitcoiners will run at loss just like gamblers. Don't allow your decisions today affect your financial situation in future. If you love gambling go to the casino.

They say experience is the best teacher. Well you have a point that shitcoin must be cautiously watched from newbies. Theres no way newbies can nailed a memecoin trading luckily or succesfully. But when it comes to luck there are some exception to that. Shitcoin is really risky and if youre a nebwie its really not an advisable groumd for you. If you want a less strict and risky one go for utility tokens or yet pick btc.

[Proty]

Most of the newbies that falls in the category the op just mentioned are purely motivated by greed they want a project were they will invest there money in the next one or two months or even weeks they are already in profit and since bitcoin isn't that shitty like those coins.so motivated by greed they will option for shitcoin instead of bitcoin.

Trading bitcoin instead investment is not really a wise choice for newbies since bitcoin is volatile in nature as a result of this and inorder not be exposed to the risk of losing one's funds long term investment should be prioritise by new over short term investment which main aim is to make quick profit .

[Fiasem20]

There's absolutely nothing wrong if a newbie choose to trade crypto,beside everyone has their different preferences.Mr A preference is different from that of Mr B.Everything on earth has their unique risk,even investing isn't risk free,if you don't have the knowledge to protect your coins from scammers you might end up losing them.If you're a newbie and you have the desire to trade crypto,you can go for it,but don't expect to start making profits in few months,if that's the motive of any newbie in regards to trading,I would rather advise you to invest instead of gambling with your money.My advice to every newbie that just started their trading journey is to;learn harder, practice often with what you can afford to lose and never lose interest because of your mistakes rather learn from them till you become perfect.