Don't start your crypto journey with trading/shitcoin

[Shadiq]

I will not discourage a newbie from learning to trade, because trading and investing are completely different. Whether you are experienced or new to crypto, or you are knowledgeable about Bitcoin, you are a complete newbie in trading and you have to lose a lot of money to become a professional. I have probably not met a knowledgeable person who has not lost money while learning to trade. Even after becoming a professional trader, you have the possibility of losing but you can also earn. It is safe to say that trading is very risky and the possibility of losing is high. Therefore, it is important to have basic knowledge about the risks before entering a trade.

I will always be on the opposite side when it comes to shitcoin investment. Because being inexperienced, a newbie will always lose money if he is not lucky and there is a possibility of him getting tempted and becoming addicted like gambling which is enough to ruin his life.

[Issa56]

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 say higher percent of newbies joint the crypto space now see it as a get rich quick scheme, most of them see it on social media that people are making money from crypto, and they will also decide to jump into it, they just want to make money, and they are not even ready to learn. Most of the people joining trading right now are always deceived by all this signal providers on the  social media claiming to be professional traders, and all what they are after is the money that they are going to collect from people joining their groups.

Some of them have little knowledge about trading, and they will claim they are professional traders, they just want to scam people, immediately you pay them for signals, you will be added to group, but at the end you will discover that you just wasted money, because you going to be losing most of the money which you trading with, and you going to be losing the money you paid them to join the group.

[EL MOHA]

I will not discourage a newbie from learning to trade, because trading and investing are completely different. Whether you are experienced or new to crypto, or you are knowledgeable about Bitcoin, you are a complete newbie in trading and you have to lose a lot of money to become a professional. I have probably not met a knowledgeable person who has not lost money while learning to trade. Even after becoming a professional trader, you have the possibility of losing but you can also earn. It is safe to say that trading is very risky and the possibility of losing is high. Therefore, it is important to have basic knowledge about the risks before entering a trade.

I will always be on the opposite side when it comes to shitcoin investment. Because being inexperienced, a newbie will always lose money if he is not lucky and there is a possibility of him getting tempted and becoming addicted like gambling which is enough to ruin his life.

People who trade shitcoins or rather invest into it are just on about getting rich quick, yes bitcoin itself carries risk of losing but the volatility of bitcoin and transparency is what set it aside with the other Altcoins. Investing into bitcoin and holding as an asset for a very long term actually eliminates most of the risk that comes with it. Trading this bitcoin though for a very short term most especially derivatives/futures/perpetual trading are risky most especially without in-depth knowledge of how trading works.

As for shotcoins, trading them is even less risky compared to investing because having basic trading knowledge you can catch up some moves in bitcoin but you cannot simply invest into shitcoins for a long term to actually consider going for profit, it is risky as this coins mostly are just short term holds.

For me regardless of what you pick stick to bitcoin either as a trader and most especially as an investor, shitcoins are simply gamble

[JiiBs]

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

When you said it ain’t that bad, I thought you were going to look at it from the context of newbie cryptocurrency investors getting lucky and hit a break with one shitcoin as it’s called these days. You took a rather different stands that agrees with regrets and loses.

These are obviously what could be a valued lesson from investing in these coins. What’s there to realize is that, Bitcoin is still very much within reach, not a whole Bitcoin but, at least $20 worth of Bitcoin and then, you keep buying while hoping on a bullrun to double or triple it for you. Them shitcoins you would get over a million for $5 would cost you several $5 before you can’t a $10 profit.

[AGogi2003]

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.

He will be more advisable newbie should know more about crypto before he get into trading. because without getting enough knowledge about crypto and don't get the experience of investing or trading and he thinks he/she will easily succeed on trading, since is a easy place to get cool money when you are perfect on it. Anything that will bring profit don't easily come easy, you need to work hard before you can achieve the rewards. anyone have is on opinion that he preferred to work with. Anyway currently many people don't have the heart of patients they always want to get rich quick, and that can't be possible you need to work and face some challenges before you can probably get your goals. Trading is good but you need to be a riskier, before you can defeat trading and get profit. The main things is to have source of income before you start trading or investing.

[Shishir99]

SNIP

Answering the title.

Unfortunately, people come to the cypto trading watching those shitcoin trading ads on social media. I still see some ads like someone is trading in front of their computer and a shitcoin faced meme comeup and encourage them to open bigger positions. I think a lot of people saw such ads on Facebook and Instagram. These shitcoin owners create those ads and run it on social media.

I believe people come to crypto trading seeing these ads. Most of the shitcoins lose it's value within a few weeks because once the developer see that people are buying the tokens, they start dumping their allocation on the market.

[DiMarxist]

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.

[Mrbluntzy]

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.

[Ndabagi01]

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.

Trading and holding shitcoins are indeed what is not to be ventured into as a beginner in the crypto space. They are also ways to make money from venturing into cryptocurrencies but as a starter, it is better you stick to holding bitcoin rather than diversifying into those two. The fact that those two can give you higher reward within a short time period does not mean that they’re less risky, mind you they’re the most risky thing you can ever do when you don’t want to hold bitcoin for the long time.

They both require you to have sufficient knowledge of them before putting money into them. With that approach, it’ll reduce a lot of potential risk in the cryptocurrency market that will catch up with you. To be a successful trader, you need to be very knowledgeable and grow your learning about it gradually. It is not a short time learning thing but has to be on a continuous basis to reach that peak of being called a profitable trader.

[KiaKia]

It's the perfect day or time to create such topic on the forum, because it's Bitcoin season and every other coins are shit coins, I get it.

But once upon a time, it was "no bull market will ever happen" , and once upon a time it was "Bitcoin will never go over 100k", now that it has happened it's time for altcoins to die.

Haven't we all learned something since 2018? That when something feels like it will never happen means it will eventually happen? I made most money in crypto from altcoins, I am not far from Bitcoin either but I choose to speak the truth.

How about we advice people to find what works for them instead? When altcoin time comes some people will get mad like always, 2017,2021 and maybe this time in 2025 again.

[aylabadia05]

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.

Newbies who really start from scratch into the crypto space do have very little experience. Their learning or their model of learning is sometimes different. Some find it easy to understand through practice, while others find it easy to respond with a theoretical learning model.
One thing that will impact their actions in my opinion is the level of ease with which they get caught up with words that shouldn't happen.

What they should do at the beginning is to choose the site or place where they learn. They can also choose content that is not trash talk.
Influencers whose brains are full of garbage should also not just create content because it will become audience food and eventually the crypto world is filled with people with garbage minds.

[Gost ms]

You should never trade. There are many types of crypto currencies in the market, among them, some crypto currencies may increase in value or not. When these coins are first launched in the market, their value increases to some extent, but after 2 to 3 days, their value decreases completely. You can lose all your money by investing in these coins. These coins have no future that their value can increase in the future. There is a new fraud going on in the market with these coins, for example, a few days before launching a new coin in the market, they will advertise it with celebrities and then they will advertise it with big trades so that everyone buys. When everyone buys, when the price increases, they will sell all the coins they have and everyone will lose. Many people are now cheating in this way in the crypto currency market.

Trading is also called a type of gambling. It takes a lot of time to learn trading. For example, it takes 2 to 4 years to learn. Many people also lose their money. But what many people do now is that they start trading after learning trading for 2 months and do not do it well and lose all their money. Trading is very risky, never trade and do not invest in crypto currency.

Always invest in Bitcoin for the long term. Because the Bitcoin network is very strong and Bitcoin is decentralized. For example, if you keep your money in the bank, then there is a bank in your middle that can steal all your money if they want. But Bitcoin is a decentralized digital currency. As time goes by, the demand for Bitcoin is increasing and the price of Bitcoin is increasing. Buy continuously by relying on your stable income and continue buying continuously until you have accumulated enough Bitcoin in your portfolio. Set a time limit, such as 8 to 10 years. Hold your holding until the time limit expires.

[Wiwo]

My advice to a newbie is to stay away from trading, because you gonna lose all your money along the line, trading requiring term of knowledge skills building and at such when you aim at quick profits from the cryptocurrency space, trading shouldn't be at the forefront of your pursuit, I rather suggest to buy bitcoin and hold and if you must do altcoins, it has to be after a careful understanding of the market.

Cryptocurrency is one of the highest risky financial venture and for that, you need to be extremely careful when you choosing your assets and avoid greed, as much as you can.

[Orpichukwu]

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.

This set of newbies set themselves up the most; they usually don't understand the market and think that the best way to make a profit from the market is to make sure that they are part of the early investors who will buy when a coin is launched first before the price goes up, and when it goes up, they sell off.

Sometimes such an approach works, but in most cases it's a wrong strategy to even try because the majority of the new coins are pump and dump. The developers are always targeting the best time to rug pull; they can end up being who give scammers money.

[Porfirii]

I wouldn't be so strict to tell newbies not to start their journey trading or investing in shitcoins. In my case, when I started my own crypto journey several years ago, the first thing I did was trading altcoins. I didn't lose much but I didn't win either, and you could think that it was time lost for me, but it wasn't: I learnt a lot about crypto, it hooked me and, after some mistakes like most of us made, here I am

So I would advice not to risk too much in trading and shitcoins, but as an experiment or a little hobby it's not that bad IMO.

[qwertyup23]

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.

There was an article that I read that claimed that most day and beginner traders lose 97% of their starting capital in the first year of their operation.¹ Given the risks involved in trading, it is no surprise that the success chance of being profitable in this venture is low compared to other forms of investments.

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.

I remember my girlfriend bought DOGE coins last pandemic before its price skyrocketed after Musk endorsed it. She was able to incur some profit but not anything significant to those who have liquidated their coins after Musk influenced its price.

The moral of the story here is that most memecoins have no basis at its price at all. The price movement on these coins are significantly low which makes it a riskier investment to begin with.


1 https://medium.com/@interstellarfinance/why-97-of-day-traders-lose-money-how-you-can-be-in-the-3-who-succeed-66c7ecda34f2

[SOKO-DEKE]

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.

Nowadays, most people that are coming into the crypto industry are there for quick money, and that is the reason why, once they come in, where they want to put their money is where people are saying they will make that quick money from. But what they don't know is that most selections carry very high risk, especially without proper knowledge.

In particular, when it comes to trading, a person without proper knowledge and skill if they try to trade they will just easily lose their funds. Despite this, many still go for alternative coins. As newbies, they shouldn't even think of investing in altcoins, as they have not yet gained the knowledge to research and determine whether a coin is worth investing in or not.So, the best coin they should focus on investing in is Bitcoin, because it is the only coin that carries less risk.

[Ivystar5]

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.

This days shitcoins are the most common way newbies find their way to bitcoin infact, I wouldn't even ask anyone not to trade shitcoin or to be bitcoin specific because experience teaches the best, if they lose some amount of money they will surely gain experience to stick with bitcoin no matter how small the amount they have to invest. bitcoin is best, but at some point bitcoin should be the next after some good amount of lost, if you loss you learn the hard way.

[CryptoYar]

[...]

You are right that many new crypto investors chase quick money which mostly leads to big risks and losses if they do not know what they are doing.

It is common mistake to just follow others into projects that promise fast riches. For beginners it is smarter to stick to Bitcoin because it is less risky and more stable than most other cryptocurrencies which are very volatile and complex.

Starting with Bitcoin helps new investors learn how crypto works and how to keep their money safe without wild ups and downs of lesser known coins. So learning and doing homework and thinking long term are much better than trying to get rich fast in crypto.

[avp2306]

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.

This days shitcoins are the most common way newbies find their way to bitcoin infact, I wouldn't even ask anyone not to trade shitcoin or to be bitcoin specific because experience teaches the best, if they lose some amount of money they will surely gain experience to stick with bitcoin no matter how small the amount they have to invest. bitcoin is best, but at some point bitcoin should be the next after some good amount of lost, if you loss you learn the hard way.

Exactly because of the hype brought by those shitcoins many people got redirected to find better coin which is Bitcoin.

That's why I also Don't discourage people to learn from what they experience on Bitcoin since somehow this can help them to go grow more as investor. There's lots of things they can learn if they know lots of important things to consider and for sure that those shitcoins would bring some good lesson for them to became a more wise investor.

What they need to do is to upgrade their learnings and don't settle only on investing on Bitcoin since this is really bad decision to do.