Don't start your crypto journey with trading/shitcoin

[Pi-network314159]

I will never involved myself in trading, it's one of the most risky activity I have told myself that I will not do, perhaps that's not the only best way to earn money in cryptocurrency. Based on my decision towards trading, I don't discourage newbies not to trade, it's possible that they can learn how to trade very well and get prosperity through it, if you advice them not to involve in it, you are telling them to avoid what can make them get to their dreams. With your experience, you can tell them that if they try trading and it is not working out, they should switch to holding just Bitcoin and not shitcoins.

The facts is that the Truth is always beater, warning newbies about trading or investing into shitcoins is like depriving them of their rights to make personal decision on themselves while you want them to bypass the problem they would have entered, but they end up falling into such trap. after becoming a victim of such circumstances before they will listen to you, by then all the money is gone. In this journey of cryptocurrency, it's very broad as life is, but people claim to know too much. I know the number of people who have fall victim of such thing even I was warned initially but refused until I lose alot of money and I pay the price due to my stubbornness.

[Marykeller]

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

That's where the problem lies. Many newbies have been deceived by this, and they haven't gotten the right info that Bitcoin wasn't created to be a get rich scheme, that you will invest and immediately start to see returns.

I believe if Bitcoin is address not to be a get rich scheme for newbies, this issue of finding newbies investing in it for quick gains will be minimized. Everybody will eyeing for long term profits, not short term.

[Merit.s]

Well I don't see any problem in starting your journey with trading, you can start your crypto currencies journey from trading. It's all about knowing the part that will benefit you. Some started their journey from trading and today they are doing very well from it, that they now have enough to invest from the return from trading,  if you can analyze the crypto Market very well and start from there, I don't actually see anything wrong from there. It's just about being intentional and understanding what you are doing and doing it very well.

It's very wrong to start your crypto journey with trading because you will spend almost two years and above to learn and understand better on trading. Along the process, you will run at loss because you will have to trade in the market to have experience about the market. Imagine all the money that you are losing on trading when you are learning, if you use that money to invest in bitcoin and hodli, your portfolio will keep on increasing overtime.

It's easy said than done about making profits in trading, even people that don't trade will say it is easy to make profits in trading and I wonder how they know when they don't have any knowledge on trading. Haven't you heard of James Wynn who lost $100M in high stake trading. A little mistake in trading will wipe out all your funds.

[Ziskinberg]

Trading isn’t the only one to make you profitable, buying and hodling will also give you an edge to make you profitable in the future. Just don’t rush in making profits, I think this is one of the reasons why these newbies jump into trading because they are seeking for fast profits which is a very wrong mindset.

Trading requires a valid experience and understanding on risk management. If you think these things are still new to you, don’t force yourself on immediate trading but take your time learning first the process. Eventually, you will be a good trader in time, just don’t rush trading with shitcoins because it will not make you profitable either, but losses and regrets are waiting ahead instead.

[HONDACD125]

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

That's where the problem lies. Many newbies have been deceived by this, and they haven't gotten the right info that Bitcoin wasn't created to be a get rich scheme, that you will invest and immediately start to see returns.

I believe if Bitcoin is address not to be a get rich scheme for newbies, this issue of finding newbies investing in it for quick gains will be minimized. Everybody will eyeing for long term profits, not short term.

The trend has changed these days, and newbies now invest in meme coins for quick gains and get rich quick instead of doing it in Bitcoin. Have you ever wondered how all these meme coins become so popular and get so much hype? It's all because of newbies who always wanted to get into something that can make them good money, and we know that meme coins usually advertise themselves as life-changers because some of the meme coins managed to change people's live, and since then, they have become a trend.

So newbies start their journey with meme coins by investing almost the whole capital they have into one or more, and then start waiting for them to go to the moon so that they can go with them, but you know what? Most of the people who do this tend to lose money because they can't always expect a meme coin to perform.

It will still take a lot of time for the whole world to understand how these financial markets and the assets in them work.

[Rockstarguy]

The truth is that as a beginner, it is too risky to start the crypto journey with altcoins because these coins are unpredictable and very risky to trade or invest in. Altcoins are not coins to rely on, and most beginners, due to ignorance, invest more than they can afford in the hope of getting rich quickly from altcoins.

Trading is another thing beginners shouldn't rush into because of the risks involved. I expect beginners to understand trading very well; at least it will help them manage risk, and beginners are expected to understand the volatility of the market to trade with amounts they can afford.

[Zoomic]

Beginners will always get different advice from those who have been in the system before them. "Do this," "Don't do this" and sometimes the advice and recommendations can be confusing because everyone is speaking from their own experience.

Whether a newbie decides to trade altcoins or not is not the issue; the main point is for them to learn first. If possible, have a trading mentor that will guide them through their trading journey. For some of the advice they get, it would be good if they are able to make decisions for themselves instead of following everything they see or hear. As a result of that, they become disorganised and even begin to find it difficult to stick to a particular strategy.

Trading is not something anyone can hop into blindly. If you go in blindly, you might lose heavily.

[uche6215]

It's good that beginners know the right path to follow when they just come into the cryptospace.

I don't know why you have this myopia view in crypto in large and particular in bitcoin. Not everyone you see here that are newbie are newbies. Some of them are experts on trading. And in life career/skill acquisition everyone has their area of interest and if the newbie is interested to start crypto (bitcoin) with trading, you don't have to discourage the person. You can only tell the person the pros and cons. And you can't tell someone to invest if the person will only depends on the investment. But if the person is not a greedy trader, even at the start (newbie) he can get charges from the trading. And for your information, I don't know your trading knowledge and from the thread you have created you have a myopia view on trading, and trading is the activity to get money in a short term and with that definitely I strongly debunked your thread. I have seen a millionaire bitcoin traders. So what you are saying here is just to scare newbies and it is a tintinnabulation to me.

All what you want people to do is investment? What are your parameters of someone to start investing without having another payout (income) in his life. You are not contributing to knowledge here. Starting crypto journey with trading should is not a wrong decision but should be encouraged. Many Centralized Exchanges started with trading and not investment.

Can you tell me who influenced the crypto market? Is it the investors or traders? Where do you get your daily, weekly and monthly and yearly crypto (bitcoin) prices? What do you understand by the concept EXCHANGE? Is it from investors or traders? Who really does P2P, is it traders or investors? Please you can make some research before misleading people and scaring them. Investment is good but trading is also good. There is risk in trading likewise in investment. If you don't know, please know it people are making profit from trading and it is not a mere saying.

[Stable090]

The truth is that as a beginner, it is too risky to start the crypto journey with altcoins because these coins are unpredictable and very risky to trade or invest in. Altcoins are not coins to rely on, and most beginners, due to ignorance, invest more than they can afford in the hope of getting rich quickly from altcoins.

What I notice is that most newbies don’t have proper understanding about all this coins before they start trading, and they see all this coins as the same. They don’t know the risk involved in trading altcoins, when most of them are introduced to trading, maybe their mentors are always encouraging them to trade altcoins, and that’s where they are going to be making money from, and they don’t tell them how risky altcoins trading is.

When you see some altcoins crashing, you might be thinking the coin has dumped already, and the next thing is to bounce back, but don’t be surprise that it’s going to keep on dropping and will never bounce back, and your money will be gone. If you are a beginner, don’t just rush into trading, if you do that, then you going to be losing your money, always take your time to learn.

[Baki202]

What I notice is that most newbies don’t have proper understanding about all this coins before they start trading, and they see all this coins as the same. They don’t know the risk involved in trading altcoins, when most of them are introduced to trading, maybe their mentors are always encouraging them to trade altcoins, and that’s where they are going to be making money from, and they don’t tell them how risky altcoins trading is.

And if the newbies don't work on there self then they will continue to think that Bitcoin or other cryptocurrencies are hard and trading the entire crypto space, because there are two things involved when it comes to trading. Either you make a profit, or you lose. Whether you trade altcoin or bitcoin, it does not change the risk that trading comes with. And when you have a mentor, it makes things very easy for you, because in trading, you need to have guidelines that will help you avoid a lot of things. After all, there are principles that make everything much easier for you.

When you see some altcoins crashing, you might be thinking the coin has dumped already, and the next thing is to bounce back, but don’t be surprise that it’s going to keep on dropping and will never bounce back, and your money will be gone. If you are a beginner, don’t just rush into trading, if you do that, then you going to be losing your money, always take your time to learn.

There are a lot of reasons that will discourage you from trading. The price is unstable, and all you need to do is when you know, then you will be able to study the chart, and that way you will be able to decide whether to short or to long. As a trader, it comes with a lot of responsibility. Not everyone is able to manage gambling, and you have to be ready to emotionally accept what it comes with.

[Royal Cap]

Although I am not a professional trader. In my opinion, hoping only for profit in trading is nothing but foolishness. Because trading is like the stock market. But there is no time limit here. If we come to the matter of sheet coins, then it can be said that there is no hope for this coin because, if the market does not get hype, then this coin becomes worthless after a few months. However, if you have more money, then in my opinion, buying and keeping Bitcoin will give you good profit in the future. This is my opinion as a noob.

[Botnake]

It’s never a requirement to always go trading with bitcoin and avoid altcoins or shitcoins. That is the trader’s own preference when trading, that’s why one should study first the coins and analyze the market well prior to trading, just to avoid future losses and regrets.

Just for clarity, trading with bitcoin still won’t guarantee secured profits, as much as trading with shitcoins is as good as you are trading for a loss. The trading outcome mostly rely on how much you are inclined with trading, not totally on those coins you chose to trade.

[Doan9269]

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 said, a newbie should not invest in bitcoin for desperation of making quick returns within a short time,don't even make it more complicated by going into trade when you're not well informed about how to do it, because many has ruined their investments asset for the same reason of inexperienced.

Lastly, this talks more about those who have been always interested in altcoins, not knowing that most of them are nothing than a bunch of shitcoins, I can remember how i do receive notifications on my phone concerning newly launched coins everyday, and this makes me wonder whether all of them are truly have utility focus on their projects or not.

[Makus]

Trading for newbies  isn't the right approach they should take in their bitcoin investment, because there are several factors that they may not understand not until they've made some investment for a period of time and experience some market trends, like a range movement for a period of time, or situations where the price starts dumping probably after they made their investment. And if they don't have a solid understand of how the market, they may end up selling their holdings in loss, instead of holding for long term to secure profit. The worse part is, some newbies give excuses like, they fear of price tracing back to zero, which is not worth imagining.

[Japinat]

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

That's where the problem lies. Many newbies have been deceived by this, and they haven't gotten the right info that Bitcoin wasn't created to be a get rich scheme, that you will invest and immediately start to see returns.

I believe if Bitcoin is address not to be a get rich scheme for newbies, this issue of finding newbies investing in it for quick gains will be minimized. Everybody will eyeing for long term profits, not short term.

As a bitcoin investor, you should know how to sort out things well, whether they are considered big lies because they’re too good to be true, compared to what is the reality about bitcoin. So if you have been deceived by the thought that bitcoin can be a get-rich-quick scheme, that’s already your fault, not because bitcoin has been addressed by majority like that.

Newbies are prone to fall on such mistakes, and this is one of their mistakes that they should learn to make it right once they learned their lessons.

[Cheema02]

Well I don't see any problem in starting your journey with trading, you can start your crypto currencies journey from trading. It's all about knowing the part that will benefit you. Some started their journey from trading and today they are doing very well from it, that they now have enough to invest from the return from trading,  if you can analyze the crypto Market very well and start from there, I don't actually see anything wrong from there. It's just about being intentional and understanding what you are doing and doing it very well.

Yes, the clash between Donald Trump and Elon Musk has disturbed the stock market and economis sentiments for a short time but it had greatly affected the market. Trump emerged as politician and he got popularity after which he criticised the Musk's influence especially the AI, social media and electric vehicles which ignited the public and investors reaction. Stock markets changed and the value of Bitcoin decreased suddenly and public took advantage of it. Musk has different thoughts on Trump's policies and the bill he presented. Both of them should sort out this matter and Musk should explain why is he against the trump's Bill which he called disgusting abdomination. The market is getting stable now and things are reviving their original prices after few days of this matter.

[PX-Z]

... 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.

Even non-newbies do like this and have mentally like this. And what's the result? Same thing. Well, few got the luck, got sold before the dump happens. Well, yeah, it's a get rich quick scheme for those lucky who got their self before the dump. Because of this, they will try again to another coin, then boom, get burned. I've read stories like this. Become rich overnight, due to greed, turns out to have debt after chasing losses.

[Maslate]

We cannot stop these people from trading into shitcoins especially if that’s their first choice. Let them trade on them, and learn some lessons after. And for sure, once they lose and realize a good lesson, they will eventually chose to trade with bitcoin, at least they learn to manage their choices well.

Reality is, each coin you trade brings a certain level of risk. There’s always risk trading with bitcoin, but there’s always higher risk trading with altcoins or shitcoins. So let these newbies decide for it and learn from the consequences of their decisions.

[sheenshane]

Reality is, each coin you trade brings a certain level of risk. There’s always risk trading with bitcoin, but there’s always higher risk trading with altcoins or shitcoins. So let these newbies decide for it and learn from the consequences of their decisions.

Most commonly, newbies are followed by the hype of influencers.
Lacking basic knowledge, they jump in, hoping to gain profit easily, unaware that holding shitcoins long-term is very risky, especially if they are late to the trend.
This is a common problem for new investors, they lack fundamental and technical analysis in trading and prefer to rely on those influencers.

It's essentially gambling since you're trading without any proper knowledge, and this is common these days.

[Awaklara]

We cannot stop these people from trading into shitcoins especially if that’s their first choice. Let them trade on them, and learn some lessons after. And for sure, once they lose and realize a good lesson, they will eventually chose to trade with bitcoin, at least they learn to manage their choices well.

Reality is, each coin you trade brings a certain level of risk. There’s always risk trading with bitcoin, but there’s always higher risk trading with altcoins or shitcoins. So let these newbies decide for it and learn from the consequences of their decisions.

If you have time to remind and tell them, then do it before they get into trouble with their choices. But if after you give them advice but they still insist on their choice to trade shitcoin, then let them get their own experience.
At least if they ask, then answer with our knowledge so that those who are new do not get lost. Those who want to learn of course, have to gather a lot of information. If they just keep quiet and follow influencers, what happens is a loss.