Crypto Advice for Newbies!
For the newcomers to Crypto/Bitcoin:
My 10 rules for newbies:
Spend 1 week beer money to get some coins and put it on your phone, regardless of the price.
Take these coins and find a way to exchnage them for some other coins through a crypto exchange.
Start looking at different coins and what they do. How far along are they in their vision?
Check their github to see if there is active development. If don't know what github is, Google and watch some YouTube tutorial.
Get some books about financial markets. Random Walk Down Wallstreet is pretty good.
Stay away from pump and dump, ICO, and other "signal" groups on telegram.
If you lost money day trading, it's cool, you just learned a bunch of stuff and it was only drinking money.
Now you lost money, read a bunch of stuff about all of the coins, understood what's good and what's castle in the sky, time to take some long positions.
Take a year worth of drinking money and put 90% into coins with active development that you believe has a long term future.
Hodl. If you don't know what this means. Google "hodl bitcointalkforum", I promise it's gonna be the funniest thing you read in the next 5 minutes.
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Very good advice. Only expend money you can afford to lose (The hangover can wait). Everyone that day-trades loses money. It's normal, you're learning. But if you don know anything about you're doing just HODL and start investigating. Very good post :)
Yeah! I have seen many people loosing money who invested in hedge funds who promised short term gains. BCC for example.
I'm not sure about BCC, I don't have money on it but it's sure they don't promise as much as BTC core or other Alt-coins. Keep engaging
Bitconnect, a hedge fund that dropped to $30 from $300 in less than a day after its creators shut down the exchange. It has reached an ATH $400+ and now trading at $3. My friend had invested all his savings in it since it promised double the money in 120 days. Poor guy :(
Ohhh was BitConnect. For a moment I thought you we're talking about BitcoinCash. Well they have to shut it down because of a lawsuit of Ponzi Scheme with all that money already invested It's a very real deal. Poor people those who invested in that. But we have to be realistic. Did you saw that Carlos from NY Conference. Now is a meme, I don't trust in something like that.