As a beginner, stay away from trading and focus more on holding Bitcoin

[JunaidAzizi]

I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.

The first thing is this topic is not suitable for this section. I think it will be more valuable when you place it in the trading section. But as you're a newbie, you can take note of this for next time. Coming to the topic, at the beginning stage, a person needs to focus more on learning rather than hodling BTC. In the beginning stage, a person is easily scared and may sell his BTC at a loss. We know that in the market, speculation about BTC and altcoins often arises. If negative news spreads in the market, there is a higher chance of experiencing FOMO, leading to selling BTC and facing losses. Therefore, it's very necessary to acquire more knowledge and information about the market and BTC behavior so that if such news emerges in the market, one can easily overcome it.

[Sim_card]

I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.

The first thing is this topic is not suitable for this section. I think it will be more valuable when you place it in the trading section. But as you're a newbie, you can take note of this for next time. Coming to the topic, at the beginning stage, a person needs to focus more on learning rather than hodling BTC. In the beginning stage, a person is easily scared and may sell his BTC at a loss. We know that in the market, speculation about BTC and altcoins often arises. If negative news spreads in the market, there is a higher chance of experiencing FOMO, leading to selling BTC and facing losses. Therefore, it's very necessary to acquire more knowledge and information about the market and BTC behavior so that if such news emerges in the market, one can easily overcome it.

Newbies that will panic and sell due to FUD are the ones that think Bitcoin is a get rich quick scheme and they decided to buy bitcoin to make profit from it in a short-term. If a newbie decides to buy bitcoin and hodli or use bitcoin as his monthly savings instead of keep fiat in the bank. If the price of bitcoin dips he will not sell but he will be learning to understand how bitcoin market is like. Without buying and hodli how will you have experience in the market by mere theory, it can not be the same with someone that has his bitcoin portfolio because he will be emotional. No bitcoin, no emotion when the market dips or pumps. A newbie only needs the basic knowledge of bitcoin to start his bitcoin investment and learn at the same time, because bitcoin price will not wait for you before pumping.

[bitmover]

I think holding bitcoin is not as risky as it was 10 years ago.

You can buy some bitcoin to diversify your portfolio .

Where I live, Brazil, holding bitcoin is amazing because it also serves as a hedge against my fiat currency poor performance. It is a way to move some of my holdings off the risks of my developing country...

[taufik123]

-snip-
Where I live, Brazil, holding bitcoin is amazing because it also serves as a hedge against my fiat currency poor performance. It is a way to move some of my holdings off the risks of my developing country...

Bitcoin as a hedge but not the best, if you really want to secure its value Gold may be an option.
But Bitcoin is a volatile asset because it has a high volume.

The main reason why you should hold bitcoin is because it continues to be developed and become a revolutionary digital asset and its price continues to rise. There will be more profits obtained faster than other assets such as Gold.

[bee]

I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x

So what is the most recommended way to learn trading completely? Of course there are many theoretical trading lessons on the internet, but beginners need practical and interactive lessons.
If someone close to you shares success stories from trading and can prove it, usually he doesn't mind becoming a personal trading mentor. For me it's no problem getting into trading with a situation like that, it's even better than looking for a paid mentor online with an unclear portfolio while a beginner is betting with real money.

[Gurujebs]

I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.

A beginner can make money from trading than even a pro, the criteria here is the knowledge, understanding the use of the knowledge and the right time in both technical and fundamental analysis, that's all that matters in trading. If a newbie is dedicated and want this to be successful, it's only matter of time before it happens, that's how I see trading and this is how I believe others see it as well.

However, if you have the mindset of been greedy, I mean a typical type of trader that love doing futures, more like gambling, this is the shortest way as possibly for a trader to lose all his money as possible. A newbie trader who practise spot trading can manage to hold a coin if it's a good coin and forget to use a stop loss untill the profits has been recover back but you can't try that with futures.

[Renampun]

Becoming a bitcoin hodler is also not easy, you have to have a good and stable income so you can buy bitcoins continuously. I have seen many beginners who initially had strong intentions of investing in Bitcoin for the long term but ultimately were unable to maintain that intention because they were short of money.

[TomPluz]

Bitcoin as a hedge but not the best, if you really want to secure its value Gold may be an option. But Bitcoin is a volatile asset because it has a high volume. The main reason why you should hold bitcoin is because it continues to be developed and become a revolutionary digital asset and its price continues to rise. There will be more profits obtained faster than other assets such as Gold.

For sure, gold is one of the safest assets to go into and due to rising demand globally it is also projected that its price will rise a lot in the next few years - maybe $10,000 per ounce in the next five years - however its potential for profits may not be on the same level for Bitcoin though this is riskier because of its known volatility feature. So why not invest in gold and Bitcoin at the same for some diversification? Going back to the idea of holding Bitcoin for beginners, I think it can be a good idea for some though not for all, of course, as no formula can be fit for all people. So I am suggesting to newbies to invest more time to learn and evaluate themselves of what they really want into the future so they can then be educated with the options available right on their fingertips.

[AVE5]

Yes trading is actually much riskier than investing and so also, it requires more technical knowledges and more money to withstand the trading demands while investing may enable you to cope along even just with a basic knowledge and you can also invest with the little you can afford.
Although trading could give a quick income so also a quick lost while investing may take awhile with the ups and downs of the market trends requiring to hold patiently untill market increases above the value you bought before you can make profit.

[Lucius]

-snip-
Where I live, Brazil, holding bitcoin is amazing because it also serves as a hedge against my fiat currency poor performance. It is a way to move some of my holdings off the risks of my developing country...

Bitcoin as a hedge but not the best, if you really want to secure its value Gold may be an option.
But Bitcoin is a volatile asset because it has a high volume.

Investing in Bitcoin carries with it certain risks that I already mentioned in the previous post, so you should not focus only on the price. However, it should be noted that Bitcoin has achieved hard-to-imagine successes in relation to gold in the period from 2009 to today.

The price of 1 ounce of gold that year was between $900 - $1200, and today it is around $2300 per ounce, which is not at all impressive if you take into account the inflation in the period between then and now.

The main reason why you should hold bitcoin is because it continues to be developed and become a revolutionary digital asset and its price continues to rise. There will be more profits obtained faster than other assets such as Gold.

That's something we can speculate about, but we don't know what the future holds in that regard. The reason why Bitcoin is so valuable is that it is decentralized, has max supply and volatility - but let's not forget that it is part of the mainstream only because the most powerful governments in the world (except China) let it prosper by giving it platforms like CEXs through which most of the trading is done.

This can change at any time and this is where, in my opinion, the biggest risk is - of course not for the survival of Bitcoin, but for the price that attracts the most investors who want a relatively quick profit. Therefore, the best advice is not to keep all eggs in one basket.

[Dr.Bitcoin_Strange]

Beginners or Not, having basic knowledge or advanced knowledge about crypto, it really doesn't matter, trading comes with lots of risks for everyone, Bitcoin or shitcoins, the risks involved are just tge same, the best approach is to HODL, no matter the current market condition, juwt HODL because trading requires one to be able to predict the next move of the market, and like we already know, no one can predict the future which so whether a beginner or not, what they'll be doing is simply gambling.

This is why Bitcoin is considered the best crypto asset to HODL, because by HODLing for the long time and considering its long-term trajectory regardless of the short-term fluctuations, you'll be sure to stay in profit.

[bitmover]

Investing in Bitcoin carries with it certain risks that I already mentioned in the previous post, so you should not focus only on the price. However, it should be noted that Bitcoin has achieved hard-to-imagine successes in relation to gold in the period from 2009 to today.

There is risk everywhere...
Even when we hold just dollars we are exposed to inflation or just dollar losing value.

If we invest in high grade companies we are also exposed to many risks.

I believe the best strategy is to diversify among different risks , so when some assets go down, others go up and you can have some balance. A small share of bitcoin is welcomed imo

[bitterguy28]

I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

not sure if there are many but indeed that there are some who enters trading without deep knowledge and ended up blaming this market because of their own greediness and stupidity.

Trade when your knowledge is more than enough to bring you income.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.

but where did you get that statistics? about x10 chances of losing when there are no adequate knowledge?

what i only knew is that there are large chance of losing instead.

[snowpega]

<snip>

Dear I like your idea as i also used to think in this way and even i also suggest other to follow this strategy of diversification where it help one to manage his risk over his investment very well. As far as i remember i also suggest this opinion in my threads on BTT if i am not forgetting it besides this you may see some of my post suggesting other to use/follow this strategy that can help them but i also suggest them along my suggestion that they should do their own research as well and they can use my advise/suggestion as a reference which may help them as well.

Although holding USDT also have kinda risk but the risk is low here as compared to other very fluctuated currencies and this is just an opinion you can correct me here if you feel it in a better way dear! But the best is that diversify and earn as holding USDT will not return us nothing profits and for earning some profits we have to take and manage our risk. what do you say dear? DYOR!

[Aanuoluwatofunmi]

We don't have to go beyond our boundary all because we wanted to trade and do it while we should still be learning on how to do it, though for some instances we cant assume that its better for them to hold instead of doing a short time trade that they may not afford to mange or comprehend, we also have to consider starting anything being a newbie with what we can afford to lose in case of uncertainties, trading is easy and simple to do but must be done with caution and deep insight on how the crypto market works.