Extremely new to crypto...help?


#1

Hi, so I’m just starting in this crypto adventure. The problem is that I don’t really know what I am doing. There are so many coins…so much info…I have a coinbase account and so far have a whopping .16 worth of Bitcoin.
I have invested nothing, because I know nothing.
Can someone please show me the light?


#2

I suggest you start out just learning about the big coins like Bitcoin, Ethereum and Litecoin understand what gives them value as you understand them start to go out and look at other coins.

I also think you should figure out where you plan to store you crypto I highly suggest you get a hardware wallet also, secruity is the most important thing to learn first.

Welcome to crypto.


#3

These two threads will help you immensly.

Also, continue to ask questions if you’re confused about anything as we encourage meaningful discussion. Enjoy your stay here :slight_smile: .


#4

Yes start with the 10days of Bitcoin that @Genesis mentioned then move on to the B90x. These programs will help you out a ton. B90x I recommend you do it in 90days do not rush it as it is meant to keep you in crypto for the long haul and by creating 90days of discipline it will help tremendously.


#5

Welcome! Hope you stick through the ups and downs! Definitely check out Peter’s B90X on how to go from step 1 to the rest.

What I do to stick through the volatility is HODL some quality coins. Bitcoin is a great place to begin and end. I hope you keep that .16 BTC all the way through until you achieve that goal you set!


#6

B90x - https://thebitcoin.pub/c/b90x


#7

Welcome on board my friend :bitrocket: Yoo You couldn’t start in a better place with those community you will reach the moon. You already received best advice ever. I just can’t believe how “lucky” you’re starting from scratch with that backup. Be patient and don’t afraid to ask questions.


#8

Welcome to the community @UberNerD20

Here’s a little into clip on bitcoin for you…

We’re all here to help you! Don’t be afraid to reach out!

Shred Token Krew!


#9

Thanks for all the help, though I think there is confusion, I don’t have .16 but coun I have $0.16 worth of Bitcoin :joy:
I’m planning to invest, I just needed to figure out where and how to start. This seemed like a good place to start my very sure after stalking the forum a bit.


#10

What I have experience in the cryptocurrency is to never go ‘All In’ or ‘All Out’ I find that dollar-cost-averaging strategy give me a better peace of mind, and when the market dips you have the advantages to buy more cheaper.

You can watch YouTube videos IvanOnTech, BoxMining, Crypt0 & Andreas Antonopoulos for different perspective.

Do pick up security best practice to protect your precious cryptocurrency.


#11

Hello, I am also a beginner here but I am using the following strategy and I find it very useful in terms of getting into the business:

-learning about the perspective altcoins that can be considered for investments.
-Learning about trading strategies and how to behave when the market gets crashed.
-Learning about the miners that are suitable for profitable mining.
-Following forums and YouTube channels for news and updates.

If you do those for some time, you will get a good insight on where you are and where to go, what steps to undertake! Good luck!


#12

Welcome to the Pub @UberNerD20

I was in the same spot when i started (i didn’t know The Pub back then)
Crypto tracking sites like CMC, coinigy, coinpuffs etc… are good resources but it overwhelms newbies like us. I was constantly looking at what pumped, what went down, what was newly added etc…

I took my time to read posts here at the pub and listened to @peter everyday. I learned that I need to take it slow and that i needed to learn as much as i can BEFORE taking a position in anything.

Once i’ve done researching an asset I make it a point to have a plan BEFORE buying it. It generally falls into 3 things for me, long term HODL and DCA it, buy it one time and set a sell goal, or just buy one time and let it ride (NO DCA).

It helps a lot when you narrow your potential assets and write down what your plan is for each.

I’ve created a google spreadsheet to narrow my view and to focus only on the assets that i have strong conviction in.

You can check it out here Price Watch using Google Sheet and Coinpuffs Data (Using plain and boring importxml)


#13

That’s for all the help guys, I’m just read day 4.
It’s always a bit easier to find a good community to help learn the ropes, I do appreciate all the replies.
Can anyone tell me about airdrops, I’m a bit confused on those.


#14

As someone who recently got involved and made many mistakes and lost a lot of money, take my advice!

  1. DCA [dollar cost average], choose the amount you want to put in overall, and put a bit in every week, or two weeks. I would spread this process out over a couple of months. Of course if there is an obvious dip, then buy a bit more. You cant go too wrong right now as the prices are good whatever way you look at it.

  2. Keep it simple, dont buy too many coins. Start with the big ones, buy some BTC and ETH, maybe LTC. If you want to diversify more, buy coins in the top 20, preferably top 10. Check out coins like NEO, ICX, XLM, VEN.

  3. Store your coins safely. Preferably get a hardware wallet like a ledger nano s or trezor. Dont keep coins on exchanges, although Coinbase is probably one of the safer exchanges.

You can find videos on everything you need to know, and the B90x covers most stuff.

The market is on the cusp of a move, and within a day or two we should see a fairly obvious move up or down, so maybe wait for that confirmation to see what to do. But to be honest either way you should just DCA rather than trying to time the market.

Some youtubers worth watching for balanced advice : coin mastery and ready set crypto (especially good for beginners).

Dont spend time on reddit or bitcoin talk. This forum is far more down to earth, supportive and helpful.

Just be patient, and ask yourself why you want to do any of this? To get rich quick, for the tech, for both? But then ask deeper questions about what you would even do with the money, and if it would make you happier or more fulfilled. It’s easy to get sucked in to the FOMO, and feel like everyone is getting rich without you. The truth is that for whoever makes money, someone loses it. The market is not your friend, it is not in your favour, so be careful.

Good luck! If I had taken the above advice I’d be in a much better position now…financially anyway! :slight_smile:


#15

i strongly agree with you mate!


#16

I guess what I want to do is just be able to provide a better life for me and my kids.
Most definitely not to get rich quick, if anything it’s because I strongly believe this isn’t going away and I don’t want to sit on the sidelines anymore.
I’m still yet to make my first investment.
I still have to wait for my taxes to come back, as I’m using what little bit I can spare from it, as well as a little bit I got for my birthday that I set aside for this. So I’ve only got 300-500 to start with tops.
But the prices can definitely keep dipping as I wait for my refund :joy:
I was thinking 250 btc 125eth and LTC. Than perhaps picking up trx and xrp…maybe I guess a lot can change in the crypto world in a week or two though.


#17

Welcome friend! I think you are very wise to take it slow. There is no rush in investing.

Here are my suggestions. Before investing in anything start by trying to get a basic understanding of what a blockchain is, how it works and what it can solve (and not solve!). Try to understand Proof of Work, Censorship resistance and Blockchain immutability. Read the Satoshis whitepaper. There are a lot of scam projects making all sorts of extraordinary claims. A lot! If you have a basic understanding of the concepts above and what their limitations are, it will be much easier for you to avoid making bad investments.

Good luck and welcome! :8bitcoin: