Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: MrSpasybo on February 27, 2021, 12:04:35 AM
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Let's go back to the early days when you heard of "Bitcoin" or "ICO" or some weird project like "OneCoin", "Bitconnect"... How did you feel? What fear do you have when entering this new but potential market?
I will list here a few fears you might face:
+ do not know where to start, how to do;
+ lose money in a scam project;
+ has a reputation for being a fraudster;
+ waste time in vain;
+ crypto wallet will be hacked;
+ the account will be locked;
+ transaction costs are too high;
+ don't know which exchange to choose;
+ do not know who to trust;
+ don't sell when the price is high, don't buy when the price is low;
+ token devaluation;
...
What fears have you faced when you first entered the crypto market, please share your experience.
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i was watching the market for enough time before engaging in the trading so you can say i have a previous picture about whats going on,what the most scare beginner traders?i think that the manipulation on bitcoin price is the most thing and the proof is when bitcoin price rise or dump,the other altcoins all move with it.
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Not related to Onecoin and Bitconnect. Let say the beginners normal fear is about the wallet to get compromise, waste of time, and the scam. These are some of the thoughts floating in their mind. Maybe some newbies are fearless because they are strong enough or maybe don't know yet what are the dangers in cryptocurrency, ICO, bounties, and whatever as long as they enter as beginners.
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Where to start was not really a big deal to me because I had someone to guide me, who has been into it. Scam project and account being hacked were my major fear. It was consistently emphasized by mine guidian, so I was too conscious of falling prey such that I never take new steps without consulting him.
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When I first entered the crypto market, I had a lot of fears, but the biggest fear I ever experienced was that I made the wrong decision when buying/selling tokens. Initially, things were bad when the token price soared right after I sold it, but later on I accepted it more easily and focused on looking for new investment opportunities instead of continuing to regret it.
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+ lose money in a scam project;
+ waste time in vain;
+ the account will be locked;
+ don't know which exchange to choose;
+ do not know who to trust;
...
What fears have you faced when you first entered the crypto market, please share your experience.
Nice topic ;D! You reminded me how I lost the opportunity to become a multi-millionaire! I knew bitcoin since 2012 but I was still in school so I didn't believe anyone who told me about BTC, I thought it was a scam project and they just want to steal my money! You may not believe but I started using bitcoin in 2017 after I saw a huge pump and a lot of investors increased, from there I started to learn many things about BTC until today!
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There was no fear, just the question of crypto or stocks.
I chose both.
When I remember closer I was afraid of what my wife would say if everything went downhill ;D
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From the little experience am having and from different people have meet one of the main reason why newbies are scared of investing is that they don't know the appropriate coin they will invest in because there are lot's of scam projects now and as a newbie it will be difficult to identify the scam once I believe that's one of the reasons newbies are scared to invest. Because it is hard to identify scam project for people that have been long in it sometimes.
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I am most afraid of loss. To avoid loss, we should gain some knowledge and learn from experts about technical background and how to use crypto currencies. For Bitcoin, Andreas Antonopoulos is a very good expert. And we should alway have a look when someone says, if he is professional (always prove for original content).
A big recommendation is, to avoid trading and do DIOR before buying an alt coin.
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Let's go back to the early days when you heard of "Bitcoin" or "ICO" or some weird project like "OneCoin", "Bitconnect"... How did you feel? What fear do you have when entering this new but potential market?
I will list here a few fears you might face:
+ do not know where to start, how to do;
+ lose money in a scam project;
+ has a reputation for being a fraudster;
+ waste time in vain;
+ crypto wallet will be hacked;
+ the account will be locked;
+ transaction costs are too high;
+ don't know which exchange to choose;
+ do not know who to trust;
+ don't sell when the price is high, don't buy when the price is low;
+ token devaluation;
...
What fears have you faced when you first entered the crypto market, please share your experience.
Good topic. +1
Sometimes the problem is actually is that it is really hard to understand Cryptocurrency. Though there are info from internet still it is really hard to digest.
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Actually we all scare about loss, how to start play and get reward is easy we can learn it but how about accept the risk is different story. Beginners should join crypto group, learn and practice before replace money, wasting time but never avoid the process. Know your skill, how market works and to who we should share and find solution need to prepare.
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I think that what scares newbies the most is the high volatility of the market. Until a time passes and they see how the cycles work they do not realize that it is normal, I suppose they are also afraid to believe that they have lost their investment even though they have not sold for fear of losing their funds.
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What was my major fear was to loss money on scam project. Were to start wasn't a problem because I had some one, my brother who was helping me showing me some basic principles to follow. Another thing that fear me the most high Transactions cost, and waisting of time and money in a scam project
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You have mentioned very important thing for newbe. I have also faced different fears from list when I decided to enter into the crypto field. The first fear was to me that If I lose money by investing in a scam project. As I was new and I did't have enough experience about it. I was very fearful about to know the real project. Another fear was to realize when to buy and when to sell. At first stage I didn't understand what is the right time to enter into an investment.
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Dear you are right. All the things that you mentioned is correct and as a beginner I am sacred of losing my all amount. I am sacred that hacker can hack my amount and I can get scam but I am trying to fully secure my account.