Things newbie needs to know before venturing into cryptocurrency

in hive-175254 •  2 months ago 

I noticed that when a project started making name you will see almost everybody trying to get on board because they now knows that the project has made name for itself, all they wants to do is to make their own gain or rather still money from it. Well, I will say it is normal, everybody wants to tap from something great and that is not bad at all, but the rate at which some one of us do it is the issue.

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I have seen a situation whereby when the project is struggling to survive you will hear people preaching for others to take part but they will not want to, the moment they sees that the project has gotten to the land of Canaan, they all will be trying to get in touch with you with the intention of trying to know how to partake. This is why at the end of the day we keep seeing rise in the aspect of scam and all that.

The moment such project is doing well, you will just see people trying to buy in without making proper research again. The moment you said send money, they will do. This is why they keep falling into the hands of scammers. I am purely referring to newbie with this post because of the cries I have been hearing from them lately. One thing that I have hinted at and always use as precaution measure is that when it comes to cryptocurrency you should knows that whatsoever decisions that you take is simply yours and nobody shall be held accountable for it. Wether you made lost or gain from it, nobody will be held accountable for it because at the end of it you won't pay or dash anybody the money you made when you hit zenith.

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Things newbie needs to know before venturing into cryptocurrency

  • Invest what you can afford to loose: I have seen people asking me how much is the best to invest into a project. Funny enough they will never ask this question when that project is doing poorly. I don't want to be held accountable for any lost they will encounter along the line. I know how human behaves. I have gained experience from such stuff while trying to help some person years back. I told them the in and out of cryptocurrency, how they can invest and they will make lost and how they can invest and they will be in gain. They told me that they understand everything. Do you knows that deep along the line the project went the other way round and I was asked to refund their money. Well, the good news is that after some months the project bounce back and what they thought is lost made a lot of gains for them but nobody asked me for my wallet that I should collect all the gain. Newbie have to understand this when it comes to cryptocurrency that nobody will be liable for your loss or gain, we just advice base on experience, we don't see futures.

  • Have multiple wallet: The essence you should have multiple wallet is not because you want to use it to scam people, it is just for you to be save. Now permit me to explain this. We knows that the rate of scam have increased massively this days, what you should do is to make sure that you have wallet were all your money is kept while you have wallet that you use in participating in airdrop and trades. If your trade or airdorp wallet is compromise you won't be affected that much because you have little or no money there.

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  • The market: The cryptocurrency market is being controlled by we all. I know some person will say the whales which are often referred to ask the rich people controls the market but that is not so. Our little effort all works collectively, so with that it shows that we all are in charge of the control of the market. Selling your little holdings can impact the market as well as buying some tokens.

  • Bull: When it comes to cryptocurrency there is Bull Market. The Bull Market means that there is movement of money into cryptocurrency. At this stage you will see people making lots of money from the coins they are holding. During this market many people rejoices.

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  • Bear Market: In cryptocurrency there is bear market unlike Bull market too. Bear and Bull market works hand in hand. What I mean is that it is either you are in profit or loss. In Bear market coins performed poorly, there is little money entering the cryptocurrency market and at this stage people hardly make gains.

  • Embark in airdrop hunting: As a new if you are not that rich you can embark in airdrop hunting, with this you can get lucky and make a lot of cash from some cryptocurrency project. I talked about airdrop in my last post, you can do well to read about. Why doing Airdrop hunting endeavour to have multiple wallet so that your wallet don't get hacked.

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Conclusion

By now I know some person might have used this post to get educated a little bit about cryptocurrency. They are more to things newbie needs to know about cryptocurrency but for the now, I believe this will act as help and guidance while exploring the blockchain.

           Tfame3865  
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  • If you love my post, feel free to comment and also support me, it will help to get me motivated. Remain bless as you read the post. Thanks

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Greetings friend @tfame3865 certainly are necessary tools that you share with us and that allows us to keep us informed and oriented on those things that everyone should know before starting in this world so fascinating but so complicated at the same time. Regards

hello @tfame3865,
Generally, when people start in the world of cryptocurrency investments they do it because the market is in an uptrend, only those who have experienced a downtrend are more cautious with the security of their cryptocurrencies, to create a portfolio of cryptocurrency investments it is recommended to have a lot of knowledge and an initial capital that does not affect them if they lose it.

These points you listed here are very important for a newbie to get handy with, so as to know what to expect in the crypto sphere. More so, a newbie should be made to understand the uncertainties surrounding some crypto activities.

Nice piece buddy

I definitely agree with you when you say what are the things that newbies should know before venturing into cryptocurrency, and my suggestion is and will always be education, education and more education especially about this world of cryptocurrencies, and above all learning to manage anxiety.

Greetings dear friend, very good your publication that undoubtedly provides us with information of interest to newbies and those who are not newbies too, you should always keep in mind the risks that you have when investing in crypto, I support you in what you say, you should only invest in what we are willing to lose.

See you later brother, have a great weekend.

Very good advice that you refer to in your publication, friend @tfame3865, many think that in the blockchain environment money is made overnight, as if it were a kind of "lottery" without knowing all the work that is behind and the training that You have to acquire to operate safely and with certain possibilities of return on investment, the important thing is to keep learning and keep helping others to train and prepare if they really want to become part of the crypto world.

Greetings

Perfectly well said. I think most people ignore to know when just rushing into cryptocurrency is how it works. When I say how it works i mean how the world works. They just rush to it because they have been told they will make money on it. Not knowing what it entails

This is indeed a valuable post, even for me who already have time in this crypto world. Everything you mention is pregnant with truth.

I really liked when you say that to the coin go down everyone ask for return, but if it goes up and they earn, we don't see that they call us. Hahahaha.

Thank you for such pertinent advice and relevant information about the world of cryptocurrencies and how to start, and even understand those who start. It was very enlightening.

A big hug.

I think the most dangerous enemy for a crypto newbie is greed, which pushes many of them to throw their dollars into some doge clones on naive hope to get that 100X in a matter of a day!
It's important to spread awareness as many lose their hard-earned capital every bull-bear wave

Informative article, thanks for sharing