What are the basics that everyone needs to know about crypto in general, before investing?

[Castelione]

Many consider crypto as a currency of the future and it is so popular now.
For those who have been trading in crypto for a long time now, what are the tips you can give the newbies?
What are the basics that they need to know about crypto in general, before investing?

 

[Potuse]

I will strongly advise anyone that wants to invest in cryptocurrency to invest on the digital coin that he is to invest on. There are some digital coin that failed to perform in the cryptocurrency market and there are digital assets performing well.

 

[Immilash]

The only advice I can give here is for you to know when to invest and when not to, just like Bitcoin, I've seen some people that bought around 60k but Bitcoin just fall like a brick.

 

[Syldan]

Personally I think it's very difficult for individuals or someone to know everything about something. the best thing you need to have before investing in crypto is knowledge. try to know some major aspects of the business.

 

[GoldenLady]

I would say you go to Google. Learning about cryptocurrency lingo would help a newbie to navigate the market and would make learning easier. Next, follow EmperorBTC on Twitter and get his free PDF, practice as you watch charts live.

Learning about how to DYOR would help the person identify hidden gems that go 10x, 100x or more.

 

[tyrim88]

The thing that i will tell any one who wants to invest in cryptocurency is that he should have the basic knowledge about the crypto and its trading platform,and then he should understand that he should not put his entire savings into it.

 

[Billy]

Cryptocurrencies are a jargon-filled, confusing and scary world for most people. If you're not familiar with the terminology or have no idea how it works, it can be hard to get invested in the future of crypto as a currency—and that's a shame, because there's a lot of potential here.

So before you take the plunge and buy your first Bitcoin or Ether token, here are some things you should know:

Cryptocurrencies are digital tokens that exist on their own blockchains. They're valuable because they're scarce; there's only so much of each kind of cryptocurrency out there. You can buy them through exchanges like Coinbase or Gemini (or even on Craigslist). Those exchanges will hold your tokens for you until you want them back—and then they'll sell them back to you at whatever price they've been trading at lately.

You can also buy cryptocurrencies directly from other people using peer-to-peer marketplaces like LocalBitcoins.com or LocalEthereum.com. These sites let buyers and sellers agree on price directly with one another without needing an exchange middleman involved at all.

 

[Bookwormlux]

You need to know about the origin of a crypto currency. You need to know this as it's what makes you to see who's behind a coin to know if it'll last long or not.

 

[Danny4cash]

As a beginner, you may lose all the money you first invest in cryptocurrency. Though, risk can be minimized with knowledge, nobody can attest to you that you'll not lose in money on cryptocurrency. It's part of the process.

 

[Chibson]

If you want to invest in cryptocurrency it is important you at least have enough knowledge of fundamental analysis. Fundamental analysis will help you with a lot of things. Technical analysis is also good but as an investor fundamental analysis is more important.

 

[Bookwormlux]

You need to know why you are investing in a coin. You do not just go about investment simply because some random influencers on twitter or other platforms tell you the coin is profitable.

 

[Smiles20]

You should know that cryptocurrency is not something that you are going to put $10 and then make a million dollars in one month like the way a lot of people have promised you.

 

[Laurentta]

The advice i have for those who wants to invest in crypto currency is to have adequate knowledge of crypto currency before investing. They should know when they ought to and when they ought not to invest. Also they should be willing to take risks.

 

[Bookwormlux]

Know what project is a particular crypto currency built on.

Try to also get to understand how the coin is expected to work.

It is Important to also know who are those behind the coin and their reputation.

 

[eenya00]

before you go ahead to invest on bitcoin it is very important you gain the basic knowledge first by knowing how the crypto industry works so that you would not fall a victim to gimmicks by industry players.

 

[Genie01]

I believe, learning the basic technical and fundamental analysis is key for success to anyone that intend to make it in the long run.
Analysing the charts (technical analysis)
Analysing the news (fundamental analysis)
Both are absolutely essential.

 

[Imran_Noori]

Many consider crypto as a currency of the future and it is so popular now.
For those who have been trading in crypto for a long time now, what are the tips you can give the newbies?
What are the basics that they need to know about crypto in general, before investing?

For a beginner before investment in crypto the most important thing is the knowledge about crypto for example the knowledge about the crypto he or she wants to invest in, the usage of that crypto, potential of it and the roadmap.

 

[felicebehaviour]

I'm not a professional trader. But I understand that to invest in any of the existing cryptocurrencies, you must study all the market risks.

 

[UsmanAmoyo]

I believe, learning the basic technical and fundamental analysis is key for success to anyone that intend to make it in the long run.
Analysing the charts (technical analysis)
Analysing the news (fundamental analysis)
Both are absolutely essential.

These are the important two that every beginner should strive to learn.
It is not a day's job and it is not going to be easy at first , but once the skill is learnt everything would become easy including making money in the cryptocurrency markets.

 

[Lynaia]

Just know that no matter how good the crypto project is and how much the coin is rising, a day will come that it will start dropping. Do not put all your hard earn money on crypto