CZ’s actually advice for beginners into crypto worth reading

[Livingleged]

So I came across this advice given to beginner that are into crypto by CZ and I feel like it’s worth sharing here as well.

Step 1 : learn first. He points to Binance Academy as the top resource

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

► What that actually means in practice: learn the mechanics first, wallets, addresses, backups, encrypted backups, sending transactions. Then experiment with DeFi and yield. Only scale up once you understand what you're doing.

► On risk: if a price drop genuinely stresses you out, not just Twitter complaining, that's the signal to reduce your position size.

► Controlling risk matters as much as making money. Don't be too greedy, don't be too fearful

► His comparison: it's like any sport. You don't jump to the extreme version on day one. You build up to it.

► His closing point: crypto is the new finance, the new money. The earlier you understand it, the easier it is to benefit from it.

The Takeaway:

No shortcuts, no urgency-bait. Learn first, start small, and let stress be your risk gauge, not greed. It's the least exciting advice in crypto, which is probably why it's the advice that actually works.

Source link: https://x.com/bnbcaptain/status/2103345835706925251?s=46

[Oshosondy]

Good advice, but it is just another means to market for Binance.

It may not be true if it is bitcoin, bitcoin is not like those altcoins and it is not like trading. If it is bitcoin, the best is that you can invest part of your discretionary income on it like 30%. But if it is altcoins, it is good to use very small amount to begin it.

He also talked about position size which I think it is about derivatives trading. Beginners traders should see trading llike gambling, although it is not gambling but it is as risky as gambling for beginners and traders that are not making money from it but losing.

[Aanuoluwatofunmi]

What I can see from the summary he made is to warns newbies about taking risks in cryptocurrency and ensures that they have enough ability to withstand any decision they make. The way some people approach cryptocurrency is not expected because they have the wrong narratives right from the start. Unless there is a proper reorientation that will direct their expectations on the right path, many will just be coming into cryptocurrency to make mistakes and keep losing, with the hope of making a profit when they are getting things done the wrong way.

[Plutomanian]

So I came across this advice given to beginner that are into crypto by CZ and I feel like it’s worth sharing here as well.

Step 1 : learn first. He points to Binance Academy as the top resource

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

► What that actually means in practice: learn the mechanics first, wallets, addresses, backups, encrypted backups, sending transactions. Then experiment with DeFi and yield. Only scale up once you understand what you're doing.

► On risk: if a price drop genuinely stresses you out, not just Twitter complaining, that's the signal to reduce your position size.

► Controlling risk matters as much as making money. Don't be too greedy, don't be too fearful

► His comparison: it's like any sport. You don't jump to the extreme version on day one. You build up to it.

► His closing point: crypto is the new finance, the new money. The earlier you understand it, the easier it is to benefit from it.

The Takeaway:

No shortcuts, no urgency-bait. Learn first, start small, and let stress be your risk gauge, not greed. It's the least exciting advice in crypto, which is probably why it's the advice that actually works.

Source link: https://x.com/bnbcaptain/status/2103345835706925251?s=46

This is the kind of advice every beginner in the crypto space need to learn first because there's nothing like shortcut here, everything is being done by process and step by step. We're in the space to ensure we make more money for ourselves and become very advanced as we're trading and investing. Perhaps the market is filled with volatility, that's why we should trade carefully and understand the market, know our strength and our weaknesses in the market.

We learn first, then invest later because the space is absolutely not for everyone and it only favours few numbers of investments been layed. Growth is constant as long as exposure is here and making good standards.

[m2017]

So I came across this advice given to beginner that are into crypto by CZ and I feel like it’s worth sharing here as well.

Step 1 : learn first. He points to Binance Academy as the top resource

I’d actually be surprised if the "owner" (everyone knows who the real owner is, given the nominal CEO and why CZ had to step down from his official post) of Binance didn't advertise and promote his "product".

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

Ah, the days of "delicate newbies". Back in the day, we invested 50% or more - pure hardcore mode.

Actually, CZ is right: need to make test transactions (investments) first to overcome the psychological fear of the unknown, understand how everything works, and avoid making a mistake with large sums (like entering the wrong symbol in a BTC-address).

► What that actually means in practice: learn the mechanics first, wallets, addresses, backups, encrypted backups, sending transactions. Then experiment with DeFi and yield. Only scale up once you understand what you're doing.

Exactly. After all, no one floors the gas pedal to 100 mph the first time they get behind the wheel. You have to drive at low speeds at first to master driving. Investing is exactly the same.

► On risk: if a price drop genuinely stresses you out, not just Twitter complaining, that's the signal to reduce your position size.

Reduce position size when the price drops? What kind of thing is ChZ suggesting? Oh, those "delicate newbies". When you see the price fall, you just have to tough it out - no complaining, just wait (and wait a long time). After all, you’re an investor, which means you need to be patient and keep a cool head. Otherwise, why did you get into investing in the first place? A "delicate" investor needs to go through a price drop and learn to toughen up and become unfazed by it.

► Controlling risk matters as much as making money. Don't be too greedy, don't be too fearful

I have always believed that emotions (such as greed and fear) hinder investing. What is needed here is nothing but cold calculation.

► His closing point: crypto is the new finance, the new money. The earlier you understand it, the easier it is to benefit from it.

This new form of finance has already been around for over fifteen years. It seems CZ is a bit late with his advice.

With crypto, can realize both gains and losses. He is overgeneralizing. I would agree with his statement if it were only about bitcoin.

The Takeaway:

No shortcuts, no urgency-bait. Learn first, start small, and let stress be your risk gauge, not greed. It's the least exciting advice in crypto, which is probably why it's the advice that actually works.

Source link: https://x.com/bnbcaptain/status/2103345835706925251?s=46

Well, can't really argue with that. It’s not just money - nothing in the world comes "easily and quickly". Why should the world of cryptocurrencies be any different? In the case of bitcoin, at the very least, need to hold on through a full cycle (from the drop to the rebound) to make a profit (though the time frame depends on "entry point").

"Quick and easy" paths almost always lead only to losses (due to high risk).

[Hyphen(-)]

No shortcuts, no urgency-bait. Learn first, start small, and let stress be your risk gauge, not greed. It's the least exciting advice in crypto, which is probably why it's the advice that actually works.

The advice is a good one, it is a genuine advice for every beginner, that’s what everyone that have experienced the crypto market will advice newbies to avoid losing money, or to limit their expectations because most of them come with high expectations to make quick money from cryptocurrency, and it’s usually not like that.

Nevertheless, he did t advice newbies to avoid centralized Exchanges and use non-custodial wallets instead, and it is necessary considering how exchanges are getting hacked.

[Davidvictorson]

The Takeaway:

No shortcuts, no urgency-bait. Learn first, start small, and let stress be your risk gauge, not greed. It's the least exciting advice in crypto, which is probably why it's the advice that actually works.

Source link: https://x.com/bnbcaptain/status/2103345835706925251?s=46

Very good stuff and it is not like this is anything new but has been said many a times in so many crypto communities.
As a beginner, start small whatever small is for you and as you learn more consistently invest. Gone are the days when you invest and it 10x in a couple of months. Now it is going to take time and a beginner has to be in it for the long run.
Now your crypto grows better with your wealth of knowledge about the crypto space

[Clearnet]

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

Ah, the days of "delicate newbies". Back in the day, we invested 50% or more - pure hardcore mode.

Actually, CZ is right: need to make test transactions (investments) first to overcome the psychological fear of the unknown, understand how everything works, and avoid making a mistake with large sums (like entering the wrong symbol in a BTC-address).

I had 10$ on my pocket extra money. I though of crypto trading . Deposited my money into exchnager. I saw a guy explaining 5% every day from crypto ain't that hard. Didn't thought much put my 10$ , the idea was to re delegrate the money with the profit amount next day.

So in 90 days my 10$ would have become $800 lol. But after taking entry my math was not mathing.

[Moreno233]

These are great advise for sure but there is one I would want to emphasize and possibly adjust to suit present situation of this. That point is learning first before getting started. This idea have been proven to not be too effective in Bitcoin investing because you will learn much better and faster already doing it than copying notes without practical experience. As soon as the investor is able to figure out the money he will need to invest, he can start already and learn on the process.

[MusaPk]

So I came across this advice given to beginner that are into crypto by CZ and I feel like it’s worth sharing here as well.

Step 1 : learn first. He points to Binance Academy as the top resource

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

All points mentioned are good piece of advice specially for the new comers. Those who are new to this market and don't pay much attention to point one and two,  soon regret about investing in crypto. Learning is the gateway to success and without proper knowledge you won't be able to get much success in this market. Controlling the initial capital is also very important, many think that investing huge money will give them huge profit but they later came to know that investing huge money at initial stages will only give you huge loss.

[retreat]

Just after I read this first point, I understood that his goal is not really to educate, but more accurately to direct these beginners to the platform he owns. Although some of the points he made are quite reasonable, it still seems inappropriate to recommend a beginner directly to a centralized platform. But it's no surprise, he's a businessman, so it's quite understandable that he recommends his platform more. It's better for beginners to avoid what this person says and look for more credible sources.

[ColdLava40]

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

Risk only what you can afford to lose will best define this. Don't bite more than you can chew, don't put in all your money thinking the market will perform some kind of magic.

 

► On risk: if a price drop genuinely stresses you out, not just Twitter complaining, that's the signal to reduce your position size.

Avoid listening to the public's opinions on what they know nothing about. Many newbies gets fud and fomo because of the data they feed themselves on. The public will always have something to say even when they have no idea what they are doing.

► Controlling risk matters as much as making money. Don't be too greedy, don't be too fearful

Greed can make you rich, but can make your life miserable as well. Take what you can and leave the rest, the market is not yours anything can happen in a blink.

[Myleschetty]

So I came across this advice given to beginner that are into crypto by CZ and I feel like it’s worth sharing here as well.

Step 1 : learn first. He points to Binance Academy as the top resource

As he (CZ) stated, it's beneficial for newcomers to the cryptocurrency space to learn first. However, by citing Binance Academy as the best resource when there is a wealth of useful information offered by Jameson Lopp, LearnmeaBitcoin, etc., he is merely promoting the platform while using the notion of assisting the newbies.

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

Yes, but DCA is always the best way to go when it comes to start small.

[Giwagi56]

What I can see from the summary he made is to warns newbies about taking risks in cryptocurrency and ensures that they have enough ability to withstand any decision they make. The way some people approach cryptocurrency is not expected because they have the wrong narratives right from the start. Unless there is a proper reorientation that will direct their expectations on the right path, many will just be coming into cryptocurrency to make mistakes and keep losing, with the hope of making a profit when they are getting things done the wrong way.

Without no telling you as beginner, you have to know that when it comes to cryptocurrency you have to be careful and do things in a normal that will help you get better, you don’t need to rush to invest in bitcoin with all your funds because you know some key information about bitcoin, bitcoin is a risky investment but it is the best investment in the world that if you know how to invest in it you will appreciate it in rest of your life, investing with 50 percent of your income is not bad but not for the beginner, not for those who start to invest in bitcoin, you have to start with a little amount of fund and know that if you are capable of investing with the 50 percent or a big amount of funds, a beginner should not look at the profit he will make and decide to invest with big amounts, there is time for everything.

[tabas]

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

Jumping on this step is correct, one doesn't have to invest wholly when they have learned the basics and they have understanding of how crypto works. Because people think that they have to invest big so that they can earn big immediately. That is true but as beginners, you have to test the waters and assess how much risk and capital you are willing to invest and that converts into risk as well. While us, we already knew these things and we can put up risk however we want but the beginners will know better as this gives them more experience for themselves.

[qwertyup23]

Yup- these pieces of advice truly encapsulates the thought-process of a cryptocurrency beginner in what they should be thinking and doing at the same time.

Let's all be real here- cryptocurrency is a form of investment that involves purchase of an "asset" for long-term value. Given that it involves the use of cash, it is inevitable that we might feel nervous whenever we invest here. I do agree that we should start small when purchasing our first crypto. It does not involve a specific value but at least some relatively-low value of cash in order to jump start your journey here.

What I have realized over the years of my journey in this forum is to start investing. You will never truly understand cryptocurrencies if you yourself do not invest and purchase it. While others may have the vision of trading it, HODLing it is sufficient enough for you to start your crypto journey.

[The Cryptovator]

Step 1 : learn first. He points to Binance Academy as the top resource

► What that actually means in practice: learn the mechanics first, wallets, addresses, backups, encrypted backups, sending transactions. Then experiment with DeFi and yield. Only scale up once you understand what you're doing.

► Controlling risk matters as much as making money. Don't be too greedy, don't be too fearful

Although all the points are useful for beginners, these three points are mandatory. A beginner should follow these three pieces of advice; otherwise, they will lose funds. It’s the crypto industry; unless we have enough knowledge about that market, then we have to regret it later. So we have to learn; it doesn’t matter the resources. There are a lot of resources to learn about crypto; even this forum is a legit resource, no doubt.

The most important part is learning about how to handle your crypto properly. For that, we have to learn about wallets that secure our funds. On the other hand, we have been seeing a lot of people getting scammed due to greedy behavior. They don’t have proper knowledge and jump to something that offers a high return. At the end of the day, they have been losing funds, and scammers also target beginners. So these three pieces of advice must need to take seriously.

[AVE5]

I'm experiencing difficulties or delay on opening the link, but that's not a challenge as long you've picked the key points of the news over to the discussion.

Straight to the business, if you're just bringing this up to this beginner's board section in other to inform the beginner's of the crypto user's, you must be coming late because on so many regular occasions had similar discussions that creates awareness abou the risks and the guides as a bitcoin or crypto user's are being exercised.
It's no more new or news that there're some basic terms which is understanding how to secure your privacies and basic terms of navigating your wallet via accessing wallets and processing transactions before one can dive.
There's also necessity why you need to control your emotions over the news or short term price behaviors before you invest so that you don't get manipulated to take wrong decisions.

It is also adviced earlier here on this platform on several discussions by experienced investors that we should not put all of our eggs win bitcoin but only invest percentage of our incomes that can be affordable for the risks of holding it for a long term without panic of any reason which also, having emergency savings is as important.
CD should be late on this one if it's just a new news.

[I_Anime]

Good advice, but it is just another means to market for Binance.

It may not be true if it is bitcoin, bitcoin is not like those altcoins and it is not like trading. If it is bitcoin, the best is that you can invest part of your discretionary income on it like 30%. But if it is altcoins, it is good to use very small amount to begin it.

He also talked about position size which I think it is about derivatives trading. Beginners traders should see trading llike gambling, although it is not gambling but it is as risky as gambling for beginners and traders that are not making money from it but losing.

Obviously he is , but at least his doing it in a good way . Not to mentioned those shillers at there  shilling untrustworthy project to newbies in the name of marketing and promotion.

Coming into the crypto world , you have to make sure that your first priority isn’t the amount you will but should be acquiring as much knowledge as you can . Knowledge That will help , in your cryptocurrency journey.  The reason I prefer Bitcoin is that I don’t have to do too much before investing in it like other coins that will have to first research thoroughly to filter the bad projects from the good ones before finding a solid project (and not to mention, there are lot of coins at there )to invest on .

So as a beginner focus on learning first before earning , forget the wins folks are posting on social media. They were also newbies then , so focus on what matters by learning and protecting your capital . To avoid or prevent learning the hard way .

[Queen Julie]

► Step 2 : start small. Not 50% of your net worth.
Start with 1%, even 0.1%. $100, $200, $500, whatever size doesn't scare you.

Ah, the days of "delicate newbies". Back in the day, we invested 50% or more - pure hardcore mode.

Actually, CZ is right: need to make test transactions (investments) first to overcome the psychological fear of the unknown, understand how everything works, and avoid making a mistake with large sums (like entering the wrong symbol in a BTC-address).

I had 10$ on my pocket extra money. I though of crypto trading . Deposited my money into exchnager. I saw a guy explaining 5% every day from crypto ain't that hard. Didn't thought much put my 10$ , the idea was to re delegrate the money with the profit amount next day.

So in 90 days my 10$ would have become $800 lol. But after taking entry my math was not mathing.

Instant beginner mistake you have made. Be careful of anyone online or a closed one who promises instant profit from crypto trading. Trading is risky, and instant profit is not guaranteed.

Furthermore, $10 is a small amount of capital to venture into trading. To make a profit from trading, after acquiring the required tools and knowledge, you will need reasonable capital. Capital that won't allow greediness or desperation but will foster patience to be profitable.

That your $10 would be put into Bitcoin investment each week. At the end of every month, you have $40 in Bitcoin, and in a year you have $480 invested in Bitcoin. It may not be a big sum, but it's a good start for a beginner. With time, your finances will change, allowing you to put a larger amount every week.