Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Hatchy on September 08, 2024, 08:11:21 AM
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As the cryptocurrency market continues to grow, many investors are diving in, hoping to strike their financial breakthrough. However, it might be worth remembering that not all cryptocurrencies are worth investing in. In fact, some have been designed solely for pump and dump schemes, leaving unsuspecting investors with significant losses.
The allure of crypto has changed lives for the better, but it's also ruined others due to lack of proper information and research. New investors often rush in with the wrong perspective, unaware of which cryptocurrencies to buy or avoid. This lack of knowledge can lead to investing in shitcoins or scam projects whose main purpose was for pump and dumps, then they end up getting scammed.
Don't Fall Victim to the Hype
As a newbie, before investing in cryptocurrency it's essential toEducate yourself on the market and its risks. Cryptocurrency is volatile, buyt some are less volatile and your aim should be investing on those that has long term potentials. What you have to do is to make an ideal research thoroughly, separating genuine projects from scams.Be cautious of unrealistic promises or guaranteed returns and avoid investing in projects without a clear purpose or value proposition. Lastly, Don't let the fear of missing out (FOMO) cloud your judgment. Take your time, do your research, and invest wisely.
Protect Your Investments
Remember, crypto can be a double-edged sword. While it offers immense potential for growth, it also poses significant risks. While you make research on what crypto to buy, you should also know how to keep them safe. Most newbies have also lost their cryptocurrency investments due to the lack of proper storage. They end up using wallets that can be easily compromised. Using standard wallets is the best advice and then remember to store your keys in a safe offline location.
Again, as many of these new coins are flooding the market, you notice how some might be persistent on connecting your wallet to their site or something similar. Most people have lost millions of investment doing this. As someone who barely knows much about cryptocurrency, you should avoid connecting your wallet to any sites without proper reason on why it is required. And if you must do so, always use a new wallet not a funded one.
being informed and cautious, you can navigate the market safely and make smart investment decisions.
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It is not advisable for anyone to connect his wallet to any site as directed, otherwise, you will lose yoir coins in that wallet. If you are asked to connect your wallet, you can create a new wallet for that. It is good that we think of investing on solid project that we can hodli for long without panick of running at loss. Bitcoin is the best in this aspect and be careful when investing in altcoins because majority of them are out for your money.
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^ I'm not sure of other chains but at least on ethereum with metamask, when you connect a wallet, it shows you what exactly dapp asking for, if it's usual 'read address', it won't affect you, and there is no harm whatsoever in connecting such way.
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In fact, some have been designed solely for pump and dump schemes, leaving unsuspecting investors with significant losses. The allure of crypto has changed lives for the better, but it's also ruined others due to lack of proper information and research.
We are living in the real world where scams and frauds are all present and people can easily be lured for something they would regret later...sadly with the coming of the cryptocurrency industry we are seeing a sharp increase of this malaise with more and more people being victimized. Pump and dump schemes are designed to benefits the people behind them, first and foremost and can be leaving those who are not aware of what they got into holding just empty bags. With the appeal to greed, people are lead to be supporting projects that will just die on the road and their supporters will have coins and tokens that have no value at all. of course, this is one side of the industry because we also have many successes and you just have to examine them in CMC list closely. One must be careful and must be praying for luck to make it in this industry.
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The biggest misconception about cryptocurrencies is that it is your way to become rich, and the evidence for that is that there is a token that rose 1000%. It is exactly like winning the lottery or finding a bag full of money, the only difference is that you do not need just a moment, but rather an investment, and this investment may mean that you lose your money.
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The biggest misconception about cryptocurrencies is that it is your way to become rich, and the evidence for that is that there is a token that rose 1000%. It is exactly like winning the lottery or finding a bag full of money, the only difference is that you do not need just a moment, but rather an investment, and this investment may mean that you lose your money.
Exactly I think this is one of the most common misconception in the crypto ecosystem. Definitely this is where the "DOUBLE EDGED SWORD" that Hatchy mentioned comes into play. Crypto can either put you in profit or in loss and that now depends on your views as well as your level of understanding. I think the very first and most important part of the crypto space is understanding your security and also privacy after that the next should be getting rid of FOMO. Many currencies out there are made by the developers to show potential , pump with peoples funds and so called investment and then leave them liquidated within a very short while.
People who often fall for these are those that are easily carried away by FOMO and those that fail to carry out their own personal research. Infact some persons even prefer to avoid meme coins and stick to their regular stable coins like USDT or a nice currency like BITCOIN since the know those meme coins may put them in loss.
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As the cryptocurrency market continues to grow, many investors are diving in, hoping to strike their financial breakthrough. However, it might be worth remembering that not all cryptocurrencies are worth investing in. In fact, some have been designed solely for pump and dump schemes, leaving unsuspecting investors with significant losses.
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being informed and cautious, you can navigate the market safely and make smart investment decisions.
Knowledge works as the shield against this double sharp-edged sword to save your lives. As knowledge will guide us, in which coin is good? I am not saying a good coin will give you profit, and that's for sure but a coin can be good if it makes you less loss or not profit at all. Because saving money on a bad trade is also a profit, we have to be light-minded about our money. If the market gives it easily, we have to sometimes give it back easily too.
Knowledge is power, and we need this power to survive the attack of this sword, and that's for sure. The tips you have mentioned are good ones, and I tend to follow them in every condition of the market. We all should make up our minds before investing, and then we should stick to it until it's valid.
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Don't Fall Victim to the Hype
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Protect Your Investments
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Again, as many of these new coins are flooding the market, you notice how some might be persistent on connecting your wallet to their site or something similar. Most people have lost millions of investment doing this. As someone who barely knows much about cryptocurrency, you should avoid connecting your wallet to any sites without proper reason on why it is required. And if you must do so, always use a new wallet not a funded one.
being informed and cautious, you can navigate the market safely and make smart investment decisions.
Both of what the OP shared to us can be avoided if only newbies choose to learn first before investing. The problem is that, there are newbies that are investing in cryptocurrency because they heard that it can give huge returns, and while this is true, it has some risks involved to it.
Don't fall victim to the hype. I've been one of those investors who fell to the hype of a particular coin, but that was when I'm a newbie, and I learned from it and didn't do it again. As a newbie, I guess making mistake only once is still acceptable, but doing it twice then you have a problem already. Doing the same mistake thrice and you need to stop already. :D Protect your investments at all costs. This is the top priority if you're an investor especially we're responsible for any losses of our assets if we forgot to protect it. There are many ways to do it. YouTube has lots of information regarding protecting our investments, but beware of misinformation.
At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are. :)
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Knowledge works as the shield against this double sharp-edged sword to save your lives. As knowledge will guide us, in which coin is good? I am not saying a good coin will give you profit, and that's for sure but a coin can be good if it makes you less loss or not profit at all. Because saving money on a bad trade is also a profit, we have to be light-minded about our money. If the market gives it easily, we have to sometimes give it back easily too.
Knowledge is power, and we need this power to survive the attack of this sword, and that's for sure. The tips you have mentioned are good ones, and I tend to follow them in every condition of the market. We all should make up our minds before investing, and then we should stick to it until it's valid.
You are right dear. Knowledge is like strong shield that keeps us safe from market ups and downs. It is very important to understand coins we invest in so we can make smart decisions and avoid losing a lot of money. Good coin is not always one that makes us money but one that helps us lose less.
We need to be clear about our investment plan and stick to it even when market changes. By remain prepared and flexible we can handle tough times and come out even stronger. Advice given is very helpful and I think we should follow it to have safer and more stable investment experience.
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The biggest misconception about cryptocurrencies is that it is your way to become rich, and the evidence for that is that there is a token that rose 1000%. It is exactly like winning the lottery or finding a bag full of money, the only difference is that you do not need just a moment, but rather an investment, and this investment may mean that you lose your money.
Correct, and I think we can blame media as well for that kind of mindset. I mean they are portraying that crypto is being used by criminals in the beginning, and when crypto takes it run and still existing despite their attacks, they change it and says it is a get rich quick scheme.
So many could have fallen for this trick, specially newbies, who saw this one. And get they get involved without proper knowledge, fall victims to criminals and scammers, and with that bad experience get out and exit and never fulfilled their dreams.
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Crypto hype is mostly carried out by the market investors which some are believed to be the whales, when they have massively invested on a particular project, another set of people who carried out hype on crypto are the influencers, they are paid to make such a public appearance and proclamation over a particular project, while we are expected not to be deceived by either of them all, than what we have received from our personal findings concerning any project.
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Crypto hype is mostly carried out by the market investors which some are believed to be the whales, when they have massively invested on a particular project, another set of people who carried out hype on crypto are the influencers, they are paid to make such a public appearance and proclamation over a particular project, while we are expected not to be deceived by either of them all, than what we have received from our personal findings concerning any project.
Yeah that's some fact there too. Most of the hype we see out there are as a result of new coins that a so called speculated to pump if thats a thing. Many developers and original investors of these pump and dump meme coins do all these just to make sure that they carry along a large crowd since more crowd means more liquidity. To be frank a coin that isn't a pump dump or rather a genuine coin will not go through the process of marketing and persuading people.
Take bitcoin for example, even without any hype or speculations of a certain huge pump it still has the highest adoption and is also one of the most promising coins in the ecosystem.
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Money ain't come easy, it has to be earned in the hard way or atleast to reach threshold but people just heard crypto give huge returns jumps into the market quickly without doing any reasearch on their own and when the profit making is sole reason they often look for high yield schemes and 99.999% of them will be scam so instead of making money they just lose whatever little they had.
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We ae living in the real world where scams and frauds are all present and people can easily be lured for something they would regret later...sadly with the coming of the cryptocurrency industry we are seeing a sharp increase of this malaise with more and more people being victimized. Pump and dump schemes are designed to benefits the people behind them, first and foremost and can be leaving those who are not aware of what they got into holding just empty bags.
With the appeal to greed, people are lead to be supporting projects that will just die on the road and their supporters will have coins and tokens that have no value at all. of course, this is one side of the industry because we also have many successes and you just have to examine them in CMC list closely. One must be careful and must be praying for luck to make it in this industry.
Yeah, wherever there's opportunity, there are also scammers. Wherever there are good projects, there are also many bad ones. Investors will have to take charge of their own investment journey to avoid the dangers in this market. Crypto volatility can create both profits and losses, while scammers usually only create pain, although in some Ponzi schemes, early comers often make huge profits.
Moreover, even without scams, the financial market can only exist if the majority loses money to create profits for the minority. Therefore, investors should accept this fact to manage their capital well, and at the same time, don't forget to take profits to join the group of winners in the crypto market.
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It is not advisable for anyone to connect his wallet to any site as directed, otherwise, you will lose yoir coins in that wallet. If you are asked to connect your wallet, you can create a new wallet for that. It is good that we think of investing on solid project that we can hodli for long without panick of running at loss. Bitcoin is the best in this aspect and be careful when investing in altcoins because majority of them are out for your money.
Wallet connection to an unknown project is it advisable. It is very important to know that linking your wallet to so many website is exposing the wallet to possible scam, so it’s better you don’t do that. If need be, use a separate wallet that you don’t have anything inside so that nothing can be stolen from it when the wallet is infiltrated. The crypto market is very broad and a lot of scammers are always looking for ways to get to steal from victims that don’t take their security very serious. So it’s advisable to always cross check on projects on the legitimacy of it. Know the one to connect to and not even connect your wallet to at all. The security of your funds should be your priority and nothing else.
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At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are. :)
Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.
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At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are. :)
Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.
However, the most crucial factor to consider when it comes to the management of investments in the crypto market is to be disciplined and strong not to be influenced by any form of pressure to invest or even emulate others. People are also unique in terms of the amount of risk they are willing to take and what sets apart success is not following everyone blindly, but making choices that result from analysing information and risk. In other words, avoiding this FOMO, we will keep the focus on the investment goals and make sure that the decision made after such interval will be less the result of impulse and more due to the solid plan.
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At the end of the day, cryptocurrency changed people's live in both positive and negative way. It will all depend on our decisions and how knowledgeable we are. :)
Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.
It is important as an investor to choose the right currency like Bitcoin to keep yourself free from crypto hype. If the investor accumulates bitcoins in his portfolio at regular intervals, he can have a huge bitcoin holding with uninterrupted and long-term accumulation trend which gives him a positive bitcoin stack for every market related negative news which can give you huge profits. Depositing regularly means you are keeping yourself away from the hype and is an investment strategy for the bold investor.
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Most times it takes courage, to avoid being a victim of these crypto hypes. We can get intimidated by peers whom seem to have made so much from riding the waves of such tokens. Why it can be good for you and bad for me is because not everyone will be profitable and to me those people whom has enough courage in risk management and risk taking are those who actually profit from these coin trading. So ist better to trade invest not out of fear but willing. Don't get Carried away by the crowd and avoid fomo.
You've nicely captured the problems most newbies in the crypto ecosystem face. The courage as an investor to be able to resist FOMO is crucial to avoid things
like getting swept away by hype and peer pressure. I believe the earlier a crypto investor is able to understand this the lesser he's likely to fall for scams like pump and dump projects.
Effective risk management is key. Understand that not everyone profits. it's kinda like a zero-sum game. You have to always be sure of why you are investing and not just diving into investing simply because everyone else is doing it. Those who manage risk effectively are more likely to avoid falling for FOMO.
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Effective risk management is key. Understand that not everyone profits. it's kinda like a zero-sum game. You have to always be sure of why you are investing and not just diving into investing simply because everyone else is doing it. Those who manage risk effectively are more likely to avoid falling for FOMO.
This is indeed what makes the difference, with effective and wise risk management, the results will be much better. It's just that, to have these tips, knowledge is really needed. And this is what often happens to beginners, where they don't have the knowledge, don't have effective risk management, then they immediately enter to innovate, without studying first, or at least getting to know it first.
because of what? because of FOMO, because of the habit of people when they see other people succeed, they will immediately be interested in wanting to be like them, as soon as possible. So when they feel there is an opportunity for that, they don't even think long and immediately enter, without knowing that it might be a scam or shit projects.
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them.
This is always the case, only the OG and strong community, and widely supported by developers remains due to its strong foundation, etc.
Those coins that only made on hype, no use case, only used to build up money will cease to exist soon. Unlike the coins that are widly used for different reasons like payments, transfers, smaller fees, fast, decentralized, etc will remains longer.
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many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss however it is a much safer option than new projects who have no real world case with bitcoin i can be sure that it will not drop down since many are actually using it for payments or transactions unlike other project who are just held due to speculative nature
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
You’re absolutely correct.
Majority of the projects in the crypto market today has absolutely no substance, nothing other than just hypes, they all survive on just FOMO and excitement, and once the hypes are taken away, they’re left with nothing as they’ll lose their worth.
And it’s jus quite unfortunate that newbies who come into the crypto space thinks crypto is a get rich quick scheme, where they’ll just come in and start making millions, and this mentality drives them into investing in shady projects that promises them the whole world and they invest in these tokens without realizing what a costly mistake they’ve done by not first doing their due diligence and first researching about the project and then they end up losing big time.
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many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss however it is a much safer option than new projects who have no real world case with bitcoin i can be sure that it will not drop down since many are actually using it for payments or transactions unlike other project who are just held due to speculative nature
Even if the price of Bitcoin goes down, it is very short-term and if you look at the price chart of the last 6 months, you will see this. You can call Bitcoin investment risky only when you use it for short term or attempt to trade. If you can accumulate bitcoins for long term with DCA method, you may be able to reduce the investment risk to a great extent. Keeping a sharp eye on market conditions and tending to buy more during bearish times reduces your risk further.
(https://talkimg.com/images/2024/09/22/gkJ0w.png)
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many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss however it is a much safer option than new projects who have no real world case with bitcoin i can be sure that it will not drop down since many are actually using it for payments or transactions unlike other project who are just held due to speculative nature
All crypto projects including bitcoin do have a high volume resulting in faster price fluctuations. This is indeed a characteristic of cryptocyrrency and everyone should know that.
There is nothing better than Bitcoin for the durability of long-term investments in crypto as it all depends on the price of Bitcoin.
Rather than just choosing a new project that is not yet clear, it is better to choose Bitcoin which is more secure and will be more promising to provide long-term profits.
But it is necessary to remember that crypto is not a scheme to get rich quickly, because nothing is instant, everything needs process and patience.
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My point of view for cryptocurrency is that there are positive and negative sides:
- (+)One side can benefit from various communities, finance, relationships, knowledge, technology
- (-)One side can also get losses from very fluctuating price changes, scammers are rampant
Both sides of the sword are negative and positive depending on our assessment so far of cryptocurrency, it feels difficult to adapt but this is a fact for me personally.
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even with bitcoin we should know that it is not the easy ticket to wealth bitcoin is still risky, volatile and could result in loss
I know that right, that is why you cannot see any post of mine were i said BTC was a get rich quick scheme, i always tell people that BTC is recommended because it has use cases, that is what gives it its utility and makes it different from so many other coins.
However, it is still volatile and if you have bad opsec, attackers can even steal your coins. But you can secure your funds if you know what you are doing and you also would not sell at a loss if you did not buy with money that you need in the short term.
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As a beginner you must understand that the volatility of the crypto market is inevitable therefore you should be well aware of the risks involved in it, you shouldn't be something you start up because other people are doing it. The crypto space is filled with a lot of opportunities but when you are on the wrong side of the market due to lack of knowledge and other factors can make you have series of losses, there are so many to learn and understand in crypto and one important thing to learn is risk management. In the aspect of security you must keep your seed phrase safe if you are keeping your assets in a wallet, the importance of securing your seed phrase cannot be overemphasized.
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
There is no question that among all options in the world of cryptocurrency, Bitcoin remains to be on top, the safest so far yet we know that it could not anymore bring the x10, x100 or even the x100 ROI many people are looking for. No wonder they are turning to memecoins where there is that chance to get rich even with a very small initial investment...but we know that big risks are also involved as there is no guarantee that a certain memecoin project will really make it...it can even be a matter of gambling for me. Certainly, there are rewards and risks here and it all up to an investor to balance the whole thing to come up as a big winner and not one of the silent losers.
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
Unlike Bitcoin which started really with no hype as no group of people were then marketing it to the masses and in fact I would say that back then people were actually afraid to get into Bitcoin so there is no type of any sugar-high promotional techniques on the table. Today, things are so different especially with new projects as they all vie for people's support and pockets so they are so willing to say and do anything just to be able to get the money they are looking for. When money is the main focus among many others there can be a big problem and so many projects are left behind (rugpulls) and many turned out to be scams with their supporters wondering what happened. I am expecting an avalanche of many new crypto-based projects in 2025 as the alt season can happen by then so we have to watch out never to be just another victims.
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
Unlike Bitcoin which started really with no hype as no group of people were then marketing it to the masses and in fact I would say that back then people were actually afraid to get into Bitcoin so there is no type of any sugar-high promotional techniques on the table. Today, things are so different especially with new projects as they all vie for people's support and pockets so they are so willing to say and do anything just to be able to get the money they are looking for. When money is the main focus among many others there can be a big problem and so many projects are left behind (rugpulls) and many turned out to be scams with their supporters wondering what happened. I am expecting an avalanche of many new crypto-based projects in 2025 as the alt season can happen by then so we have to watch out never to be just another victims.
Crypto investors like us who are already in the system will likely know how to protect ourselves from falling victim to these crypto projects seeking for ignorant investors to exploit, but our major concerns are about newbie investors who are so eager to invest. In 2025, lots of illegitimate crypto projects will still flood the Internet because they know that there will always be people available who would invest wrongly out of ignorance. These newbie investors have already been convinced by the general misconceptions that all cryptocurrency investments are get-rich-quick schemes. Just as it was stated in the OP, if these newbies allow greed control them instead of acquiring the right knowledge about the investments, they would learn from their mistakes.
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Any kind of investment holds its own kind of risk, crypto since it's online people are prone to lose funds via phishing attack and lot more advanced techniques. Apart from that the price crash is a major facto for people lose their portfolio value which is why we need to pick the best coins even if the growth is gradual compared to the sudden hyped crypto that grown just over night.
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Don't Fall Victim to the Hype
Usually newbies do really fall into this kind of stuff on which on the moment that they've seen someone do make out money or someone who do make out some hype
about on what they had gained then they would really be trying out to chase those things and would really be making out some investments on careless manner on which they didnt think
about those potential issues or problems that they might be able to encounter. Just like any other investment then the risks of losing money would really be that still there
so it will really be that recommended that making yourself that mentally and emotionally prepared.
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In fact, some have been designed solely for pump and dump schemes, leaving unsuspecting investors with significant losses. The allure of crypto has changed lives for the better, but it's also ruined others due to lack of proper information and research.
We are living in the real world where scams and frauds are all present and people can easily be lured for something they would regret later...sadly with the coming of the cryptocurrency industry we are seeing a sharp increase of this malaise with more and more people being victimized. Pump and dump schemes are designed to benefits the people behind them, first and foremost and can be leaving those who are not aware of what they got into holding just empty bags. With the appeal to greed, people are lead to be supporting projects that will just die on the road and their supporters will have coins and tokens that have no value at all. of course, this is one side of the industry because we also have many successes and you just have to examine them in CMC list closely. One must be careful and must be praying for luck to make it in this industry.
Investing in crypto requires not just luck, but also the wisdom to conduct thorough research on any project before investing. This is not the right time in the market to invest blindly in any coin simply based on hype. Investors who do so should not be surprised if they incur losses. Success in the crypto market is about knowing the right moments to invest and when to withdraw profits from Bitcoin and altcoin investments.
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Both sides of the sword are like opportunities or threats.
I am sure that those who have sufficient expertise and knowledge in cryptocurrency will definitely make this cryptocurrency an opportunity and those who do not have this cryptocurrency will say that all of this is a threat.
When I got to know cryptocurrency, I would also be hesitant about the existing assets because I thought it was too risky for us to see Bitcoin and everything become digital assets, but over time I began to understand a little about how cryptocurrency works.
Something new, the latest technology that has been designed for a long time and has an algorithm that is difficult to crack and almost 99% of its hacking rate is safe except for 1% of it being user error.
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I thought you were going to talk about another interesting cryptocurrency paradox, but judging crypto on its potential and risks also needs to be considered... many people are interested in the cryptocurrency world because they feel that it is easier to make money by taking advantage of the opportunities offered by cryptocurrency... and that is indeed dangerous....
Likewise with security, with the existence of blockchain technology and cryptography, we are always educated by the community that cryptocurrency is very safe. However, the public reports that there are several exchanges that report that their assets have been hacked and stolen... that means, the security of your cryptocurrency cannot be guaranteed 100% safe, right? Like the potential and risks explained by the creator of this topic.
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In fact, some have been designed solely for pump and dump schemes, leaving unsuspecting investors with significant losses. The allure of crypto has changed lives for the better, but it's also ruined others due to lack of proper information and research.
We are living in the real world where scams and frauds are all present and people can easily be lured for something they would regret later...sadly with the coming of the cryptocurrency industry we are seeing a sharp increase of this malaise with more and more people being victimized. Pump and dump schemes are designed to benefits the people behind them, first and foremost and can be leaving those who are not aware of what they got into holding just empty bags. With the appeal to greed, people are lead to be supporting projects that will just die on the road and their supporters will have coins and tokens that have no value at all. of course, this is one side of the industry because we also have many successes and you just have to examine them in CMC list closely. One must be careful and must be praying for luck to make it in this industry.
Investing in crypto requires not just luck, but also the wisdom to conduct thorough research on any project before investing. This is not the right time in the market to invest blindly in any coin simply based on hype. Investors who do so should not be surprised if they incur losses. Success in the crypto market is about knowing the right moments to invest and when to withdraw profits from Bitcoin and altcoin investments.
Luck also cannot be separated from someone making an investment. Of course, the main thing is the right analysis when making any decision to be made. I agree with your opinion that before investing, you must be able to know the market situation at that time, when, to start buying and holding and when to let go, not because of hype alone so that you do something without thinking long, so that in the end you can cause losses that could have been avoided.
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I also have the same thoughts about this crypto because I feel that crypto is like a way to achieve profit and another way to find a way to lose. If the person continues to learn about crypto, it seems that one day they can also minimize the level of losses caused by fluctuating trading. Another way is if we are greedy and impatient, then crypto is a way that can have an effect on losses.
I am also currently still learning how to make a profit from crypto, sometimes I see trading in crypto going up and down very quickly. Last night I also saw in the chat room that in just one night a lot of money was Liquidated in the market because of trading Futures, that proves that they are indeed greedy and wrong in guessing whether the price of crypto will go up or down.
(https://i.imgur.com/08wbGaZ.png)
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^ I'm not sure of other chains but at least on ethereum with metamask, when you connect a wallet, it shows you what exactly dapp asking for, if it's usual 'read address', it won't affect you, and there is no harm whatsoever in connecting such way.
only if the correct website is used.
The easy way to be safe is connect a wallet with very little value in it. 5 dollars usd or less. there are endless fake links and fishing schemes. I have no great amounts connected to any exchanges.
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I also have the same thoughts about this crypto because I feel that crypto is like a way to achieve profit and another way to find a way to lose. If the person continues to learn about crypto, it seems that one day they can also minimize the level of losses caused by fluctuating trading. Another way is if we are greedy and impatient, then crypto is a way that can have an effect on losses.
I am also currently still learning how to make a profit from crypto, sometimes I see trading in crypto going up and down very quickly. Last night I also saw in the chat room that in just one night a lot of money was Liquidated in the market because of trading Futures, that proves that they are indeed greedy and wrong in guessing whether the price of crypto will go up or down.
(https://i.imgur.com/08wbGaZ.png)
Unless the trader in the futures market can read the chart well and have wom kind of info in the future to avoid what manipulators do in order for small trader to lose money. The edge of the sword in the futures market is much sharper then in spot market.
The best way to minimize the risk in crypto is just hold BTC and forget any other crypto.
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^ I'm not sure of other chains but at least on ethereum with metamask, when you connect a wallet, it shows you what exactly dapp asking for, if it's usual 'read address', it won't affect you, and there is no harm whatsoever in connecting such way.
only if the correct website is used.
No. Even if you connect to fake/phishing website, scammer can't do anything to your wallet if he has only this 'read address' permission, but of course shady websites will ask for more permissions, ones with which they can drain you.
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Luck also cannot be separated from someone making an investment. Of course, the main thing is the right analysis when making any decision to be made. I agree with your opinion that before investing, you must be able to know the market situation at that time, when, to start buying and holding and when to let go, not because of hype alone so that you do something without thinking long, so that in the end you can cause losses that could have been avoided.
Indeed!
This is the very reason why some people mistake trading to be exactly the same thing as gambling, because you need luck in both situations, but the only difference is that in trading or investment, even if luck is needed, your success as a trader or an investor isn’t solely dependent on that luck, just as you’ve rightly said, the paramount factor in crypto is developing and identifying the right strategy and techniques that suites quite well with your personal financial goals as well as your risk tolerance level.
How well you’ve developed your skills and how much experience you’ve gained in the space is what determines how successful you’ll be as a trader or investor in the crypto space. While gambling is solely dependent on luck.
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I also have the same thoughts about this crypto because I feel that crypto is like a way to achieve profit and another way to find a way to lose. If the person continues to learn about crypto, it seems that one day they can also minimize the level of losses caused by fluctuating trading. Another way is if we are greedy and impatient, then crypto is a way that can have an effect on losses.
I am also currently still learning how to make a profit from crypto, sometimes I see trading in crypto going up and down very quickly. Last night I also saw in the chat room that in just one night a lot of money was Liquidated in the market because of trading Futures, that proves that they are indeed greedy and wrong in guessing whether the price of crypto will go up or down.
(https://i.imgur.com/08wbGaZ.png)
Unless the trader in the futures market can read the chart well and have wom kind of info in the future to avoid what manipulators do in order for small trader to lose money. The edge of the sword in the futures market is much sharper then in spot market.
As far as I know, my friend, because those who trade in the Futures type are the ones who get Liquid. If only they traded easily in Spot, it would seem very easy and simple because they don't need to be affected by Liquid. But sometimes traders also want to feel what is called extreme adrenaline so they take shortcuts to trade with the Future type.
Maybe they have a goal by using Future trading to get big profits with small capital but in fact they are hit by Liquid and their funds are immediately lost or lost.
The best way to minimize the risk in crypto is just hold BTC and forget any other crypto.
This is the same as what my friends here said, they suggested to stay Bitcoin hodler only to be safer because with Bitcoin everything can change. Maybe my friend also has Bitcoin hodler since 20,000 dollars and is now enjoying profit. But there are also friends who use Future when but in fact they experience losses because they guess the price wrong.
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Remove hype and so many new projects will be dead, they survive on hype and nothing else and that is why investors lose money when they buy them. People who find out about crypto should lower their expectations, many of them feel they have found their ticket to wealth, so they make mistakes and lose their money, for this reason BTC is kind of like my only choice for now.
Unlike Bitcoin which started really with no hype as no group of people were then marketing it to the masses and in fact I would say that back then people were actually afraid to get into Bitcoin so there is no type of any sugar-high promotional techniques on the table. Today, things are so different especially with new projects as they all vie for people's support and pockets so they are so willing to say and do anything just to be able to get the money they are looking for. When money is the main focus among many others there can be a big problem and so many projects are left behind (rugpulls) and many turned out to be scams with their supporters wondering what happened. I am expecting an avalanche of many new crypto-based projects in 2025 as the alt season can happen by then so we have to watch out never to be just another victims.
Altcoins season in 2025 is still on a probability thing in my opinion because of dominance factors. Many crypto enthusiast thinks altcoins season is certain in 2025 without looking at the market index, the btc dominance remains the biggest challenge to achieving a full altcoins season, the current market index is showing a Btc dominance rates at 55.9% as at today.
Analyst thinks that a btc dominance rate of 47% to 45% is likely a good target to trigger off a full altcoins season, and i think their positions looks decisive to have a full altcoins season.
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Connecting your wallet to any site is not a safe thing for your crypto assets, except it is mandatory in other to participate with the site's activities. As a newbie in the crypto community, safe keeping your assets is very important, cause when it is lost, getting it back is almost impossible due to the decentralized nature of the crypto community.
Talking about wallet, making Personal research on which wallet to use, what private key is all about and the different types of wallets, will give you a firm foundation on how to safe guard your crypto assets.
Bounty/signature campaigns in this forum is a way of generating income, trading is also a profitable way of making tons of money, yet without experience, one can lose everything in just a single mistake.
Investing has no much technicality, but yet requires your time for personal research and findings. When it comes to investment in altcoins, it can be more difficult to identify a genuine project from scam.
Securing a profitable asset to make investment is looking at Bitcoin or the top 3 coins on Coin Market Cap (CMC).