Some Guidelines For New Crypto Users
Assalamu Alaikum
How are you my dear friends? Hope you all are well and I am also alhamdulillah by the grace of Allah. Guys after a long period of bad market conditions it is slowly recouping its losses and at the same time we can see that the price of Bitcoin is hovering around $65k. However, we can now see that day by day people are getting more attracted towards crypto and adopting it more and more. We also know that we are going to see a bullrun in a few days, which is why many new users are being created now as many investors are preparing for this period. And their hope is that they can make a good profit in this bullrun.
However, one of the main trends among new crypto users who are or have been in this bullrun right now is passion. New users usually have a basic understanding of crypto at first and they have an idea that investing in crypto is profitable. In this case, many times new users can be influenced by different YouTubers. As a result, their passion for crypto increases manifold. And due to this, they often cannot control their emotions and they take wrong decisions in the market and they face losses. So if you are new to crypto you must control your emotions in the beginning.
Also when you are a new member if you are expecting a good profit from here then you must understand the market condition and which direction the market may flow. Also another important thing is how you choose the coin. Naturally a new user usually comes to the market and does not understand how any coin works and which one is more profitable. As a result, new users enter the market on impulse and then choose the wrong coin. As a result, they face losses. So you need to learn fundamental analysis well.
Also another trend observed among the newbies is that they take entry in big coins in the beginning. As you are new to this market you should start investing in small coins with small capital first and follow its chart pattern daily. In this you can gradually get a small idea of how successful your investment is or how much loss you are facing.
However, since you are new to the market, you will often hear that the market is getting better or worse as a result of various news. But when you're ready to invest, if you don't have an idea of what the next move in the market might be, you'll almost always end up losing money. So you should always keep an eye on this news. And trying to understand what the market conditions might be like now. One of the main reasons for this is that when there is bad news in the market, the market often turns bearish and when there is good news, the opposite happens, which is bullish. In this case we can mention Elon Musk whose tweet has a lot of impact on the price of Doge coin.
Not only that as a new crypto user you should spend more time here. It doesn't matter how much you learn but how much your interest grows is the real thing. Because when your mindset is made towards it you can gain knowledge very easily and I personally think you will improve quickly. From this we can easily say that if you are a newbie in crypto, rather than investing later on someone's persuasion, you should first get a good understanding about it and then take action wisely.
There is also a nice path to the crypto sector for beginners where you can often earn crypto rewards without making any money. From time to time different coins and new coins are airdropped which you can earn some crypto by joining them. Since almost everyone earns less in the beginning, this can be considered a positive aspect.
However, there are more guidelines beyond what I've covered today, but I think these approaches will make it much easier for newbies to settle into crypto. Moreover, crypto is a subject of knowledge, meaning that everyone, new and old, learns something new all the time, so there is no end to knowing anything. So friends today no more I am ending my post here, see you again with something new. I am ending here wishing you well.
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The issue with many people when they join crypto is they have wrong mindset about how it actually works
Yes and for this they often have to face losses.
Very important guide for new crypto users, thanks for sharing
Thanks a lot for reading my post.
You have shared an important post and solid advice to newbies, above all that news is important, I know many people news have rekt and this is due to the fact they know absolutely nothing about it and get destroyed in the process so watching our for news is a good tip from you. Thank you.
Thank you very much for reading my post for a very nice comment. Such comments help me a lot to motivate me.
Your article will help me a lot.
I am very happy to know this.
Presented a nice post about guidelines for new crypto users. In any case, it is natural for someone new to make mistakes. But if one comes to study that subject in advance then his chances of making mistakes are reduced. Likewise, if a new user follows your guidelines, he can avoid mistakes in the crypto market. Thanks for sharing such a helpful post.
I am very happy, comments like this motivate me a lot to post better quality.