How beneficial is the cryptocurrency trading for a beginner?

[taufik123]

-snip-
Learning about crypto or how to make profits from crypto quickly? If your definition of a beginner is someone who wants to know more about cryptocurrency and how it works, trading is probably a secondary thing to introduce to them. I'd argue that knowing how to operate wallets, understanding the differences between coins and tokens, etc are much more beneficial for their goal.

Basic things like how to operate a wallet, create your own wallet and secure the private key, understand how to sell and buy coins etc will indeed be more useful because many beginners who come do not even know such basic knowledge.

If in the context of a beginner who is a real beginner, then such a basic thing is recommended to be learned first, and if it is related to beginners who are trading or do not have their own trading strategy, then learn to understand how technical analysis such as reading candle charts with indicators must be learned first and some fundamental analysis that will deal with the latest news about crypto etc.

[vegasus]

Surely the answer will be different, depending on the efforts made by the newbies. When the beginners prepare their crypto trading carefully, with an understanding of science and strategy, then it will be a good starter, and the results will be better, than the newbies who start crypto trading without any provision and preparation of everything.

The results will not betray the process, it depends on what kind of process the beginners go through. If they are really serious and optimal preparations, then yes, trading even for beginners will be that worth it. However, if the opposite is true, then the results will also be the opposite, trading will be a very easy way to lose money, like gambling.

[Chilwell]

Cryptocurrency trading can be beneficial to both beginner traders and professional traders but they have to do the right thing at the right time and prevent themselves from doing the wrong thing. They have to be educated and composed and they must follow the ethics(rules and regulations) of trading so that whoever set his or her eye on them will see the etiquette of trader with them. If an individual follow the ethics and etiquette of trading he will be free from emotions that will guide him astray in trading. And he will be able to manage and minimize the risk and maximize the profits and he will be successful in trading.

[LogitechMouse]

As much as I want to think of the possible benefits of trading for a beginner, I can't think of anything that I could consider as "significant", but anyway, here are the benefits that I can think of a beginner when they're trading.

1. They will learn that the crypto market is very volatile hence, they will make decisions in the future based on that.
2. They will have a better learning experience because they're trading with the real market. Yes, there's a demo account, but trading in real time gives you a different experience.

While there has many benefits to it, the risks easily outweigh it as well. Risks like:
1. High Volatility - since the crypto market is highly volatile, there's a chance that the beginner trader will experience huge losses due to wrong decisions.
2. Emotional trading - we know that beginner traders are prone to this type of trading. At some point, they will trade not based on their strategy (if they have), but based on their emotions.
3. Complexity - we know that if you're just starting, you will feel overwhelmed and feel that the things are very complex to you like the technical indicators, the candlesticks, the information, etc.

Trading can be profitable, but you need a working strategy in order to achieve that. Maybe if you're a beginner, accept also the fact that you will lose some money along the way. Think of it as a "tuition fee". You'll spend some bucks in exchange for some first-hand experience that will help you along the way.

[LUCKMCFLY]

For me, the only way a beginner can benefit from trading is if they know a lot of theory and apply it. Otherwise, if it's a person who has never traded in their life, doesn't know the exchange well and gets carried away by the first thing they see, it's not beneficial On the contrary, it will be a considerable loss of a lot of money on their part, because if they are careless , they will even lose their way of walking.

[debra]

Cryptocurrency trading can be beneficial to both beginner traders and professional traders but they have to do the right thing at the right time and prevent themselves from doing the wrong thing. They have to be educated and composed and they must follow the ethics(rules and regulations) of trading so that whoever set his or her eye on them will see the etiquette of trader with them. If an individual follow the ethics and etiquette of trading he will be free from emotions that will guide him astray in trading. And he will be able to manage and minimize the risk and maximize the profits and he will be successful in trading.

I agree with you that crypto trading can be very beneficial for both newcomers and those who have been in the trading world for a long time. It all depends on how each individual prepares themselves to do the trading. Because there is no easy way to get money so quickly, so it depends on the process. If for example we can prepare it by learning significantly and understanding trading and all its related matters and strategies, and how to analyze it, then there is a possibility for newcomers to do it. And later there will be a process of learning by doing, and continuing to develop. Experience will also provide valuable learning.

[sampoerna]

Basic things like how to operate a wallet, create your own wallet and secure the private key, understand how to sell and buy coins etc will indeed be more useful because many beginners who come do not even know such basic knowledge.

If in the context of a beginner who is a real beginner, then such a basic thing is recommended to be learned first, and if it is related to beginners who are trading or do not have their own trading strategy, then learn to understand how technical analysis such as reading candle charts with indicators must be learned first and some fundamental analysis that will deal with the latest news about crypto etc.

Yes, because I found some questions in the eTelrgam chat group, where they were newbies who didn't even understand about wallets, how to operate them, how to transfer, and others. So they just followed suit to register at an exchange then make a deposit and buy coins, but didn't understand what to do after that.

That's why basic knowledge about cryptocurrency is very important and needed. And actually there are already a lot of sources in articles, videos, and others that explain all of that. It just depends on how each newbie has the will to make the effort to learn and prepare everything properly or not.

[Legion]

Basic things like how to operate a wallet, create your own wallet and secure the private key, understand how to sell and buy coins etc will indeed be more useful because many beginners who come do not even know such basic knowledge.

If in the context of a beginner who is a real beginner, then such a basic thing is recommended to be learned first, and if it is related to beginners who are trading or do not have their own trading strategy, then learn to understand how technical analysis such as reading candle charts with indicators must be learned first and some fundamental analysis that will deal with the latest news about crypto etc.

Yes, because I found some questions in the eTelrgam chat group, where they were newbies who didn't even understand about wallets, how to operate them, how to transfer, and others. So they just followed suit to register at an exchange then make a deposit and buy coins, but didn't understand what to do after that.

That's why basic knowledge about cryptocurrency is very important and needed. And actually there are already a lot of sources in articles, videos, and others that explain all of that. It just depends on how each newbie has the will to make the effort to learn and prepare everything properly or not.

I think many people have no slightest idea of what they are getting themselves into when they decide to delve into cryptos. They think that they saw the chart going up, read the fabulous storeys of big earnings and they go right in even if they do not understand the fundamentals of the business. If you have ever been in that situation, well, you might be in a position to agree that sometimes it is rather uncomfortable not to know and be too scared to actually ask questions. That, to me, is why the most rational action is to give a subsection of the community for fundamentals to exist in where fundamental questions will not be dismissed. I believe that if the individual is to be respected and is being treated as such despite being a student, the person will be more capable of learning. It goes beyond buying and selling of the coins but involves embracing the accountability of every click that is made.

[Aanuoluwatofunmi]

We need to be frank here and avoid enticing for nothing sake, for a beginner, it may go tough to an extent before things begins to normalize, trading has it demands and not even when we are new to doing it, it may be boring and disappointing on us, but we must choose not to quit and give up, this makes it more advisable as a newbie to start little by little before we can learn to increase on our trading capital over time.

[Asiska02]

Cryptocurrency trading can be beneficial for beginners as it offers opportunities for profit in a rapidly growing market. By starting with small investments and learning the basics of market trends, beginners can gradually build their understanding. However, it's essential to be aware of market volatility. For those interested in mining, investing in a mining machine Crypto can also be a way to generate passive income over time, complementing trading efforts. Remember, education and caution are key when starting out.

Education and caution are essential in every step to a new thing you want to start, but to be frank with you, the cryptocurrency trading market is way beyond that and can break a beginner down to lose interest in the whole crypto space if they happen to fail big in their trial phase into the trading environment. Mining is not something I think a beginner can approach immediately especially if they’re not financially capable to own a mining machine, so I think that is out of the choice of a beginner that is just coming into the crypto space. I will recommend investment and spot trading as the two most less risky approach into the crypto space.

[Azharul]

We need to be frank here and avoid enticing for nothing sake, for a beginner, it may go tough to an extent before things begins to normalize, trading has it demands and not even when we are new to doing it, it may be boring and disappointing on us, but we must choose not to quit and give up, this makes it more advisable as a newbie to start little by little before we can learn to increase on our trading capital over time.

Obviously, your comment is also very acceptable in this moment. So i am also agree with your best opinion. We know that trading is one of the best profitable source in cryptocurrency world. A beginner trader can trade, but i believe that it must be difficult for him. Because we know that trading is one of the best risky space in cryptocurrency market. So when we want to trade or invest we should trying to understand in cryptocurrency market carefully. Because without knowledge in cryptocurrency market or trading system, we can not earn best profit here.

[Mr. Magkaisa]

We need to be frank here and avoid enticing for nothing sake, for a beginner, it may go tough to an extent before things begins to normalize, trading has it demands and not even when we are new to doing it, it may be boring and disappointing on us, but we must choose not to quit and give up, this makes it more advisable as a newbie to start little by little before we can learn to increase on our trading capital over time.

          -        I agree with what you are saying, because it will not be easy for a newbie to enter crypto trading, because there is a lot they need to know first.
And it will not be easy on their part as beginners in the crypto space.

Others may get lucky but that rarely happens, because usually you really need to study thoroughly and learn the important things in crypto trading in reality.
So as a beginner, you should be triple vigilant and careful.

[taufik123]

-snip-
That's why basic knowledge about cryptocurrency is very important and needed. And actually there are already a lot of sources in articles, videos, and others that explain all of that. It just depends on how each newbie has the will to make the effort to learn and prepare everything properly or not.

Yes, now there are many references that can be learned, it is no longer an excuse not to understand what to do in crypto.
Complete with video tutorials that are even easier to learn.

I am also a beginner and even made many mistakes in the past, not knowing how wallets, CEXs and so on work until finally I started to learn one by one and understand everything.

[Celph]

Cryptocurrency trading can be beneficial for beginners as it offers opportunities for profit in a rapidly growing market. By starting with small investments and learning the basics of market trends, beginners can gradually build their understanding. However, it's essential to be aware of market volatility. For those interested in mining, investing in a mining machine Crypto can also be a way to generate passive income over time, complementing trading efforts. Remember, education and caution are key when starting out.

   One thing for sure to know as a beginner or newbie before venturing into crypto is to be aware of how the market could be unpredictable at most cases while knowing that losses could also be analysed just as much as profit could be.
    This point is not to scare you or any beginner off particularly; it only emphasizes on how crypto could either affect you in both ways.Well; with the right investment decisions i’d always say that you could still enjoy the whole game.
   Also; as beginners;  consistency would be a very important skill that beginners should brew themselves with.Consistency involves not giving up even when the clouds seem to get darker.It is equipping yourself with more knowledge even while losses are incured while treating those mistakes.You can make crypto a bed of roses with the right choices and investments.

[Mate2237]

As a beginner if you want to benefit from trading you don't have to be greedy. And cashout any small amount of profit you have made in any trade. Many traders are saying that crypto trading is much more difficult than forex trading while others are said it is crypto trading that is more simple. Though they are the same in some things. But as it is now in the stock market cryptocurrency traders are making profit more.