What advise would you give a crypto newbie?

[JoyMarsha]

This would be my advice to any newbie who asked me for some:

1. Don't trade.
2. Read number one.
3. Go back, take a deep breath, and remember that you should not trade.

You said to give advice for newbies. And this is the kind of news that people new to bitcoin should be hearing. Because naturally these people will be chasing quick profit but then we'd have other people on social media showing them all the money they have made and then then they become greedy.

To stay out of trading is the best advice to give to a newbie in crypto. Upon my years in crypto, I am still finding it hard to start trading because I know trading to be risky, and it is hard to gain expertise in it.

I will advise newbies to do the same, "to stay out of trading," to invest and hodl Bitcoin for the long term and altcoin for the short term; that's always preferable than to go into trading.

[bayu7adi]

Don't easily listen to the advice of strangers who influence your investment strategy, unless you really need a reference to make your data better ... they will never be responsible for your losses, so the absolute decision is in your hands ... even some people still do shilling because it is a personal benefit for them.

Be careful of fraud with the lure of big profits in a short time ... it is really difficult to happen even now it is still used as a way for fraudsters to find victims ... and my last message is, never have high expectations of the cryptocurrency space, finding profits in cryptocurrency is not as easy as imagined, so improve your quality every day to be able to develop and survive in the cryptocurrency world.

[UNIVERSE]

really a person who can be trusted, because the mentor will be the one who teaches you from start to finish.
You are willing to pay a mentor then you need to get better knowledge and understand quickly.

Many beginners only do it on their own without a mentor, but it doesn't matter as long as they learn well without difficulty, but with the help of a mentor it can be done quickly and easier.

Yes, a mentor must be a trusted person. He will learn us everything about crypto. If he misleads us, we will do wrong thing in crypto. However, it is very difficult to get a trusted people in crypto. Many people sometimes are good in theory only, but they fail when they implement the theory. The mentor should be a professional trader/investor. Don't choose someone who is good in theory only! 

True. There are many people invest or trade without the help of a mentor. But if we can learn from trusted articles or videos, it is no problem. I also do this, I can say that I'm quite successful. At least, I can get profits quite often, and I know well how to trade/invest in a proper way.

[bitterguy28]

Their volatility is higher than that of bitcoin that’s why the risk associated with them are higher but it doesn’t mean that one can’t gain profit from them and also some altcoins are less risky than others so with adequate research you can identify good altcoins to invest in.

definitely just take ethereum for example it is second to bitcoin but it is considered almost as safe and secured as bitcoin i am talking about altcoins with lower marketcaps especially projects that has just been launched and yes you can expect some profit but it will be a lot harder to take some when it comes to lower known projects

[Dr.Bitcoin_Strange]

Their volatility is higher than that of bitcoin that’s why the risk associated with them are higher but it doesn’t mean that one can’t gain profit from them and also some altcoins are less risky than others so with adequate research you can identify good altcoins to invest in.

definitely just take ethereum for example it is second to bitcoin but it is considered almost as safe and secured as bitcoin i am talking about altcoins with lower marketcaps especially projects that has just been launched and yes you can expect some profit but it will be a lot harder to take some when it comes to lower known projects

I’m not a fan of Ethereum but for it to have attained the position it has today simply means that it’s also built on a solid framework just like Bitcoin (I’m not comparing it to Bitcoin). But I’m still very much of the opinion that investing your money in any token that’s not Bitcoin comes with a very high risk, I’m not saying that Bitcoin investment is risk free, I’m simply saying that it’s a lot more easier to mitigate the risks associated with Bitcoin investment, which isn’t the case with other shitcoins. Shitcoins are mostly in the market to enrich the developers of the project and a few early investors who manage to pull out their funds before the project is dumped, which makes it a very risky investment option, especially for investors who intend to invest for the long term.

[LogitechMouse]

Re: What advise would you give a crypto newbie?

1. Give yourself some time to learn at least the basics online.
2. Don't ever think about the potential profits that you can get if you're a newbie.
3. Don't ever, ever follow what these so-called gurus are saying because they might be either misleading or leading you to a potential scam.
4. Don't ever, ever, ever trade.

There are many more, but I guess that's the top 4 that comes to my mind. We know how risky cryptocurrency is, and with the amount of misinformation that's being spread online, it's hard for a newbie to learn the basics while not getting scammed because I believe that they are gullible enough to fall to these scams.

[Legion]

Their volatility is higher than that of bitcoin that’s why the risk associated with them are higher but it doesn’t mean that one can’t gain profit from them and also some altcoins are less risky than others so with adequate research you can identify good altcoins to invest in.

definitely just take ethereum for example it is second to bitcoin but it is considered almost as safe and secured as bitcoin i am talking about altcoins with lower marketcaps especially projects that has just been launched and yes you can expect some profit but it will be a lot harder to take some when it comes to lower known projects

Ethereum is usually considered as very close to Bitcoin in terms of security and solidity taking into account its market capitalization and environment backing. Nevertheless, it is possible to make a profit here mostly for altcoins, having small market caps and will especially refer to new promising projects; however, the level of risk is much higher here. Hopefully, more people will start investing in these lesser-known projects because they take longer to build and the amount of profit that can be made is not necessarily as great as with coins like Ethereum. Trading in these coins demands a great level of analysis and planning since they’re more prone to fluctuation than fiat currencies.

[Crypto Library]

Hi everyone. Pls what advice would you relay to a crypto newbie learning the ropes of risk management and hoping to become a bad ass trader. Excited to hear from y'all..

Seeing your situation reminds me of my early days in cryptocurrency.  Initially I was also a very bad trader and could never make a profit from trading and the main reason was because I was not good at trading analysis.  It was my biggest mistake when I traded without good knowledge of trading analysis.  And if you are doing one thing then I would say take a break from trading and learn trading analysis in the beginning.
But for risk management you can invest in Bitcoin for long term by following the dollar cost averaging method.

[TomPluz]

Initially I was also a very bad trader and could never make a profit from trading and the main reason was because I was not good at trading analysis.  It was my biggest mistake when I traded without good knowledge of trading analysis.  And if you are doing one thing then I would say take a break from trading and learn trading analysis in the beginning.

One should realize that trading demands the right kind of mindset and skills and a newbie should see that he has nothing of these in the first place and so things can be so risky. Now, we know that trading can be a very attractive enterprise and it is one that has proven to be really good in creating wealth but one has to be fully prepared by education...and if possible get a mentor that can guide you in the ins and outs of the business. Though this can be so risky this is something that should not deter a determined one to make it here...success can be so possible if one is really prepared.

[Crypto Library]

One should realize that trading demands the right kind of mindset and skills and a newbie should see that he has nothing of these in the first place and so things can be so risky. Now, we know that trading can be a very attractive enterprise and it is one that has proven to be really good in creating wealth but one has to be fully prepared by education...and if possible get a mentor that can guide you in the ins and outs of the business. Though this can be so risky this is something that should not deter a determined one to make it here...success can be so possible if one is really prepared.

Trading is very attractive and as well as we also think we can really make a good wealth by trading which is actually true but the problem is the social media and the newspapers and the new channel  spread all the positive things about trading and most of the people got attracted in this point and  here they take wrong decision.
As I said in my previous post I was inexperienced and as well as I was also bad in trading analysis most of the important thing that time I don't have any idea about the market psychology and that's why I face lots of loss in my start of trading.

[Nheer]

Initially I was also a very bad trader and could never make a profit from trading and the main reason was because I was not good at trading analysis.  It was my biggest mistake when I traded without good knowledge of trading analysis.  And if you are doing one thing then I would say take a break from trading and learn trading analysis in the beginning.

One should realize that trading demands the right kind of mindset and skills and a newbie should see that he has nothing of these in the first place and so things can be so risky. Now, we know that trading can be a very attractive enterprise and it is one that has proven to be really good in creating wealth but one has to be fully prepared by education...and if possible get a mentor that can guide you in the ins and outs of the business. Though this can be so risky this is something that should not deter a determined one to make it here...success can be so possible if one is really prepared.

Moreso, they are more to it than just success which is the loss of trading and some effects and negative impact on it. New traders without knowledge or understanding can be very bad traders and it will be very  difficult for them to get the right balance on cryptocurrency market. A lot of knowledge need to be done before coming into trading and having a mentor will really help you through and guide you a lot.
 Having a lot of knowledge and understanding about what you are doing can reduce the risk of it and gives you a better strategy and more confidence about trading. And most importantly after understanding every little detail about trading, trade with the value you can afford to lose.

[Rruchi man]

Don't easily listen to the advice of strangers who influence your investment strategy, unless you really need a reference to make your data better ...

Any person you are taking advice from must be someone who has a proven record, because talk is really cheap and can easily be given by anyone. Take advice and tips from only people who have shown good knowledge or expertise with crypto.

Even after the advise or tip has been taken, still try to do some personal verifications.

[Findingnemo]

l am happy to guide them in a right way also giving them all the knowledge that I learned for a while that's definitely gives them a headstart to their investment or trading career. Personally I won't recommend them to start as a trader, it's not reliable way to make money and that's why most people who enters new to the market face loss and exit the market blaming the crypto but the one who should be blamed is the individual who took the risky mode in the volatile market space.

[Crypto Library]

Moreso, they are more to it than just success which is the loss of trading and some effects and negative impact on it. New traders without knowledge or understanding can be very bad traders and it will be very  difficult for them to get the right balance on cryptocurrency market. A lot of knowledge need to be done before coming into trading and having a mentor will really help you through and guide you a lot.
Having a lot of knowledge and understanding about what you are doing can reduce the risk of it and gives you a better strategy and more confidence about trading. And most importantly after understanding every little detail about trading, trade with the value you can afford to lose.

Moreover, another important thing that I think is that you should not start trading without knowing everything about trading because even then there are lots of professionals in this sector but they also suffer losses. It is a lie that they do not suffer losses at all. But the difference between them and other general newbie traders is that they can use their skills to recover their losses but on the other hand a new trader cannot do that. And for that he must first learn about trading then practice then go into investment.

[_act_]

Hi everyone. Pls what advice would you relay to a crypto newbie learning the ropes of risk management and hoping to become a bad ass trader. Excited to hear from y'all..

To be a trader, one needs to be more careful and start by learning about trading, the strategies and the various kinds of trades which have, then, one may also have to define the category of trades he may be willing ot go for, maybe crypto or forex trading, take time to learn and understand the risk as well as the benefits in making trades, build up a capital to serves as a trading fund when fully ready to engage and have enough patience while learning about trades and risk management.