What things that should know the cryptocurrencies beginners before investment?

[Ayeshabashir]

If the beginner who recently started and join the cryptocurrencies first they should collect information from the senior members of this forum and read their post and take a knowledge from there and after that they should also do their own research from Google before investing their money they should be checking that whether this site where he is investing their money is legit website or not and they should also know the proper information about the coin which he or she chooses for investment

 

[btaliat]

A newbie in cryptocurrency needs to decide first whether to be a trader or an investor. Having decided to invest, there are some things he needs to consider to have a sail free investment.

There is need to do proper research on the coins a trader chooses to invest in. There are many ways these researches can be done. We have books on how to predict coins as well as we have videos that talk about it.

An investor should know that he doesn't need to invest all his money on a particular coin no matter how accurate the prediction may be. He should learn how to invest only with the money he can spare. But he should remember that the more he invests, the more he would gain.

 

[Good-Guy]

There are many things a person should do before they start investing any form of money into cryptocurrencies. First of all, people should remember that cryptocurrency trading I truly risky. many people make the mistake of investing money that they are not at all willing to lose. Even if you invest a good amount of money ion to cryptocurrencies, you must be very careful how you trade in cryptocurrencies. I can confirm that cryptocurrency trading is very profitable, but it all depends on how you manage the risk and how you predict the prices of coins. Of course many beginners would lose money in the start and I think that there is nothing wrong with losing money if you are learning.

After all, losing money would allow you to realize your mistakes and rectify them so that you may not make such mistakes in the future and suffer from big loss. Mistakes help you to learn. I remember making the mistake of setting trade orders at night only to see that I have lost money the next morning. I learned that I must never set an order if I am not in the market or monitoring the trades. These are some basic things ever beginner must realize.

 

[Kingsley]

Of I should get the question correctly you are trying to know what will be needed by a newbie to be able to trade crypto currencies, if that is the case then I will suggest you do not always listen to what people are saying, you should always make your findings. I have heard people make bold claims that you can become a billion over night by trading crypto currencies. This has lead somany other people to paying coins they have no idea of and started trading without having the foresight on what the market entails, and eventually they got to lose all their asset right in front of their eyes and they couldn't do anything to help their situation because they gambled with the market.

Although it is true you can make something good from trading crypto currencies but this is not something that can be achieved by just opening a wallet and stocking up with some few coin as if that is all there is to trading. You can be shocked that the bitcoin you bought last year January will still be at the same amount or lower this year January. Hence you need to be properly schooled, many do not want to pay the price but they want to climb the elevator without using the stairs.

 

[Skysaint]

I guess you are trying to ask what the beginners or the newbies in cryptocurrency should take note of before investing in it. Well, there are a few things to actually take note of as a newbie trying to trade or invest in cryptocurrency market one of which includes that cryptocurrency is never a get rich quick scheme, it's actually a process and you tend to earn better as you continue to learn from your past mistakes and experience.
First of all I think you should ascertain whether the idea of cryptocurrency investment and trade is welcomed in your country; I mean by the government, whether or not they have placed a ban on it. If the idea is accepted then that makes it easier for you but if it is banned then you will need to learn more than just trading cryptocurrency. You will need to learn how you can find your wallet, trade successfully and how to withdraw your earnings back to your local bank account; that's for traders trading from a region that doesn't support cryptocurrency transactions.
For a deep knowledge about it, I will also advise you make research and probably join different forums that do talk and discuss about matters relating to cryptocurrency.

 

[Sotherefore]

Getting information before engaging in cryptocurrency is very important . There re so many platforms you can also get these information from for those that are not comfortable here.

In this platform we have so many topics that talks about cryptocurrency of different natures , its movement and volatility. We can learn so many things from all the post of member here concerning different type of cryptocurrency of our choice and also from the positive comments people are making here..

The crypto market is really complicated and anyone who is interested to make reasonable amount of money from the cryptospace must just go through the normal learning process . That is very important because you can't blindly think of making money from what you don't know . You must have an idea of any skill you are interested to make money from , that is what I have come to understand .

 

[Shaf]

As a beginner in cryptocurrency, it's best to learn about the terms and lingo used. Terms like hodl, bear, bull, defi, rekt and others. This will help you when you're reading articles online.

Another thing I wish I knew before being involved in cryptocurrency was risk management and portfolio allocation. If you put all your money on a risky shitcoin, you have a 50/50 chance of being stinky rich, or completely rekt. It's advisable to have always have a balanced portfolio, one that have blue chips like Bitcoin and Ethereum, and other coins. It's also best to never trade with all of your portfolio, which is what most noobs do.

If you can find out the strategy of investing in cryptocurrency that best suits you, you will be far better at this than many people. Some people can survive as day traders, some as futures traders, some are just long term hodlers and some do well by investing in ICO's and IDO's. Find one that's a fit for you and learn about how to make money with it

 

[Lymphography]

A beginner needs to get all the information and knowledge they can before investing in crypto currencies. The crypto currency market is full of profitable opportunities if one has enough knowledge to make use of them. Doing your own research is essential before making any kind of investment.

 

[LoukiaCharilaou]

I believe that a beginner should do a very good search, read some reviews and ask people who know about crypto before investing in cryptocurrencies. It is important to gain some knowledge first in order to make some money from cryptocurrencies. Last year I invested in cryptocurrencies without having any basic knowledge of them ,so until now I have not earned any money from them. This type of investment requires time and knowledge. For this reason, it is highly important to learn some things about crypto before investing. Of course, my advise to beginners is to invest only what they can afford to lose because although this investment is very popular and profitable, it is at the same time too risky because the behaviour of coins is so unpredictable. So, in the beginning, it is wise not to invest a lot of money. Only in this way, can you be safe.

 

[Protension]

One of the biggest obstacles for investors when it comes to cryptocurrencies is not falling victim to the hype. Like other investments, cryptocurrency investments are subject to market volatility. You can invest in this, but kindly establish a general guideline. Don't invest money that you will soon need; instead, invest money that you are willing to lose. The market may be tremendously rewarding while also being very erratic. Therefore, you need some kind of research and experience in order to optimise the return on your investments.