How a newbie could survive in the cryptocurrency space

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For one coming into this space it's important they are well informed as to know how to survive and be here in the long run, they are people who come in here and after a while they leave because they enter the space without first getting the proper knowledge and information they need to survive in this space this has led to them being shocked when they see something they don't expect and as such making them to leave most times in pain.

I will be highlighting a few tips crucial for the survival and longevity of a newbie in this space.

Things needed to ensure survival of newbies in this space

Honestly I see wonder why someone would just come into this space without first gaining proper education about where he or she is coming into, people enter this space often ignorant and that's bad as it has often led to early death of their crypto life.

Education is really crucial and important facet to ensure survival of one in this space because without it I mean then why are you here? You can only know how to navigate your way around here when you have been properly grounded and understood what it entails and when that happens then it can be said that you are well equipped to be here, so I feel it's strongly a matter of grave importance for one coming here to atleast gain basic education as to the functions of blockchain technology and also know about cryptocurrency, the first thing about crypto and all the varieties of crypto we have in this space as there are thousands.

Proper education about cryptocurrency and research is needed on their part and you can't bypass this process because if you do then your slowly killing your stay here, besides only narrow minded people and ignorant ones understimate the importance of education especially education on something that has the potential of changing their financial life, so education is key tip for longetivity of one in this space.

When it comes to education learning about cryptocurrency would have been enough but it goes beyond that, you have to truly understand the core of risk management and what it entails as this deals with finance, unless you want to end up even as poor then you should ignore risk management, ignore risk management as your own peril. Risk management is the building block of cryptocurrency investment, cryptocurrency investment poses risk since it's a market thats notoriously volatile hence one has to understand this things even it's unclear regulatory framework this is important so you know what you are getting into and is convinced you have the mind to deal with this risk, to ensure longevity here and survival then one has to develop a sound risk management plan and strategy.

When a newbie comes into this space too is important that the person start considerably small, I mean let's say you have total of $2k and you want to invest in cryptocurrency as a newbie for me you should invest atleast $20-60 that's 1-3% of your total money and if you lose that you are okay since it's insignificant and a small amount of your total money, and the loss won't send you packing, before thinking of the profit, consider the risk and ask yourself, if I lose such amount will I be affected drastically financially? If yes then don't, you must not invest immediately if you don't have the money exercise patience and continue researching and gathering knowledge and when you want to them start small and always stay updated as to event happening in the space to help you always stay a step ahead or flow with the market.

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How long term perspective and continuous learning could help a newbie

If someone is new here is important for the person to know that the cryptocurrency market though volatile yes, is not a quick to get rich scheme and if you look at all the people who has become millionaires and billionaires if these space vast majority of them is due to getting in early and having long-term mindset, coming in here and believing that in just a month or two you will make life changing money is simply a fantasy one that shouldn't drive our investment so I think in all honesty to thrive and survive in cryptocurrency space for long then we should have long term mindset and invest only in strong fundamental project to avoid heart breaks.

Learning never stops, some once they have learnt a new thing they quickly enter here and are comfortable forgetting that this is new market that is continuously envolving with newer project rolling in almost every day which makes it necessary for one to continue in this space to be learning, learning never stops and that can't be farther from the truth especially in this space.

So for a newbie I believe they should never stop learning, infact the day they stop learning that will be dangerous, so continue learning about every development as well different approach to have a sustainable investment and try to ensure your performance overtime are always logged in to help you understand fully how you have been doing and areas to make adjustments. So continuous education is key crucial for survival for not just only newbies for us all, infact all the points I have touched on here is crucial not only for newbie but for everyone of us.

Conclusion

Indeed it would be wise for newbies to know these things if they want to survive here for the long term, longetivity is crucial in surviving and thriving here and to have that longevity you must atleast have well rounded knowledge of cryptocurrency and a sound risk management plan.