Newbies never buy memecoin quickly.

[DabsPoorVersion]

It is still possible for newbies to mistakenly invest in memecoins without doing any research. I have encountered many such investors who don't realize that the crypto they invested in is a memecoin. They may have purchased it due to its low price and hoped for long-term profitability. Mistakenly buying a memecoin doesn't always mean that they bought it unknowingly or they have some other coins in mind, but it could also be because they lack knowledge about memecoins altogether.

Thanks for the clarification, now I understand better what you said in your post. But I still see a problem... The first (and only) thing a newbie should do before investing is to study the market and the coin/token he wants to invest his money in, and at that point I think that person will know if he is investing in a memecoin or in a project related to IOT(for example).

No one should invest without having dedicated hours and hours to reading and learning, otherwise we already know what can happen. Serious economic problems and even bankruptcy. Even after a long time it is something that can happen to us. Knowledge is our ally in this case.

That's the primary problem for newbies. They often think of how to make money without spending enough time to gain knowledge or at least do their own research to identify the coins they should buy. Most of the time, they are being hyped by other people and if they lose money, they have realized that the first thing they should do is learn things about crypto investing.

Indeed. If we have sufficient knowledge, it becomes our sole tool in achieving success. Knowledge is crucial, and not only applicable to cryptocurrency but everything in our surroundings.

[Freemind]

That's the primary problem for newbies. They often think of how to make money without spending enough time to gain knowledge or at least do their own research to identify the coins they should buy. Most of the time, they are being hyped by other people and if they lose money, they have realized that the first thing they should do is learn things about crypto investing.

Indeed. If we have sufficient knowledge, it becomes our sole tool in achieving success. Knowledge is crucial, and not only applicable to cryptocurrency but everything in our surroundings.

I agree with you. But even having a good base of knowledge about trading, at some point we are going to suffer losses. That is something undeniable. "Experts" also make bad decisions and lose money. That's why I'm not surprised that many newbies curse cryptocurrencies, it's something I've seen on several occasions. But the fault is not how this industry or the market works, it is solely their fault for listening to advice that does not lead them on the right path.

[alltalk]

In my opinion, memecoin has the potential to instantly make someone wealthy or cripple their invested money. It acts in such a manner. Those that invest in it are merely taking a gamble game because they have no idea how the price will go in the future (profitably or losing).

It is not only your opinion but it is the fact. I agree that investing in meme coins is like gambling. It is difficult to know how the price of meme coins to grow or fall. If it grows massively, someone can be rich suddenly. But if the price free fall, someone may lose their money. It is the coin that only relies on the hype, it has no clear fundamental.

Given how volatile their prices are, I have never once thought of memecoin as a viable long-term investment due to its massive circulating supply, you as an investor can lose a lot of money within a day, depending on how much you invest. As such, it should not be trusted for long-term investment plans.

Indeed. Meme coins aren't the right options for a long term investment. We have no problem with the unstable price because almost all crypto coins have the same condition. But the problem are about the supply that seem almost unlimited and there is no fundamental. With this condition, it will be too risky to hold for a long time.

[DabsPoorVersion]

That's the primary problem for newbies. They often think of how to make money without spending enough time to gain knowledge or at least do their own research to identify the coins they should buy. Most of the time, they are being hyped by other people and if they lose money, they have realized that the first thing they should do is learn things about crypto investing.

Indeed. If we have sufficient knowledge, it becomes our sole tool in achieving success. Knowledge is crucial, and not only applicable to cryptocurrency but everything in our surroundings.

I agree with you. But even having a good base of knowledge about trading, at some point we are going to suffer losses. That is something undeniable. "Experts" also make bad decisions and lose money. That's why I'm not surprised that many newbies curse cryptocurrencies, it's something I've seen on several occasions. But the fault is not how this industry or the market works, it is solely their fault for listening to advice that does not lead them on the right path.

Exactly, expert traders can even make bad decisions sometimes and have a bad experience of losing their trades, even if they have knowledge and experience. While some newbies which are inexperienced traders enter the trading without having the knowledge or experience. Newbie traders should not allow themselves to be influenced by other people when it comes to their trading, especially if they know to themselves that they don't have the knowledge and expertise required to initiate successful trading. In trading, it requires skill and knowledge, and it is not something they can simply rely on luck to make money.

[elbans89]

I would suggest newbie dont to buy memecoins from the very beginning of their crypto path. Better get familiar with popular altcoins; something from top100 and try investing or trading. Extremely hard to get good profit with memecoins. There are too many of them, and from the start find something that is not scam is difficult. After getting more experienced, more familiar where is dangerous to invest, and where is not, would be time for memecoins.

Good advice, I agree with you, newbies should know the top 100 coins, learn the project, team, character and also learn the market trend.
Don't buy meme coin, It's really risky.
Meme coins are just FOMO.
I have lost a lot at the past.
I suggest to buy top coin, If newbies want to invest in crypto currency.