Imagine you have a friend that would like to start with crypto. Now you are the savvy crypto specialist and you want to give your friend a piece of advice. What would be your first recommendation, the most important info for a newbie to get started with crypto?
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The question really intrigued me when I saw this post on Listnerds.
I am not really savvy, but if there's one thing I learned is that patience is a virtue and they should be patient with their vision.
Keep up, bro!
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It's definitely not easy for somebody to start in the crypto world and to be patient but it's definitely a very important component for success.
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I would say join Hive, first of all! Then I would advise them to write down their keys on paper and never lose them/give them out. Beware of scams, do you own research, and of course hold on for dear life!
I always present Hive first but I often lose them when I speak about keys... Why can't we just have an e-mail login? They tend to ask lol
Or other difficulties, too. I tried to onboard my friend and he said for some reason he could not.
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My advice would be to just get in the game. Buy a little Bitcoin and at least have a piece in case it does go to $1M like I think it will over the next few years. I would direct them to Coinbase to get started and then once they were a part of crypto, we could have further conversations depending on how much interest and what sort of risk tolerance they really have.
Like I said, I'd start them with the one everybody knows about and then go from there.
Posted Using LeoFinance Beta
I think Coinbase is a good first stop because it's not necessary to understand all about keys and stuff and it's a well known company. In addition it is a link between fiat and crypto.
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My advice would be simple to focus on the project and the development team. And forget about the price until 5 years from now.
I told that to a friend of a friend and he told me. I don't want to wait 5 years people are getting rich now... But I totally agree with you. The problem is the mindset of most people that are getting into crypto. They often do it with a wrong perception of the reality.
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My advice: Don't fall for the FOMO & FUD. Don't forget to have your profits. Crypto is a long term game, so have patience.
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Most of the time patience is not what people want to hear when they start with crypto. They want to earn money quickly lol. But I totally agree with you. If you want to have some success with crypto, you definitely need patience and a cool head not to fall into the fomo and fud traps.
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Hmm, either a combination of binance+bitcoin or coinbase+bitcoin OR crypto.com app and staking for at least a second tier card so they can experience crypto benefits when spending fiat anywhere.
I like the combination because Binance and Coinbase allow you to have wallets in most of the currencies without needing to deal with keys, wallets, etc. It's a good place to start.
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My first recommendation would be the Hive. The reason that I say this is the amount of money anyone can earn with a $0 investment, The image below shows my Hive account value. This was earned in about 15 months without a single penny invested. They should start with The Hive Introduction Guide and grow from there. Great question thank you.
You have collected a nice amount of money just with your work. And that's the magic of Hive. The problem I encounter is that people don't understand when I present them Hive. Where does the money come from? It must be a scam! Are the answers I get most often.
I received the same kind of responses in the past. I quieted them by converting tokens to cash and showing people the cash deposit.
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My advice would be to invest in projects you believe in and have done the research for. There are a lot of scams out there in the crypto world and dumping them onto random tokens won't really give you a good chance of succeeding. Then I would try to convince them to join Hive.
Posted Using LeoFinance Beta
The problem is that most newbies have heard of this fantastic token that will moon but nobody knows about it and they want to invest into that. So I often have to dissuade them from doing that lol
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Just getting into crypto? Hmm... start buying a set amount of BTC and ETH every paycheck.
If more time, join Hive, and for a month just read LeoFinance and soak in all the advice given there.
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It's not a bad idea to lead them on a path of selfdiscovery. There is too much to know and it can't be taught I believe.
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Interesting question and I would come back to see what others write.
For me, my first recommendation would still have to be BTC as that is the "most stable" or "safest" crypto out there, and likely the first crypto that institutions will likely adopt.
As for the most important info, I think it's important to understand the security aspect of cryptos first. For example, what are hot wallets and cold wallets, identifying which exchanges are more reputable to open accounts with (cos you don't want an exchange that is a scam or disappears overnight), knowing what seed phrases and keys are and how to keep them safe (i.e. never to share or post anywhere).
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Thank you!
Thanks a lot for your answer! I quite agree with everything you say but I believe it isn't so easy to pick "the" most important piece of advice.
My advice would be to take the time to learn and really understand 1 or 2 blockchains.
Stay focused and don't FOMO on shitcoins, don't forget to take profit, and the most important one: be patient, it's a marathon. The market will punish you if you act like it's a race.
Totally agree with you! Small steps, ignore the noise, and build slowly! It's a marathon!
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DYOR - or, research, research, research :D Have some idea of WHAT you are investing in and don't just go off of hype (or, marketing). Have some understanding of the base project and not the current price only.
Basically avoid FOMO and FUD :-). I agree with that.
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I would send them to the training in The Hive Guide. It would be the easiest way to get them started. After that they could educate themselves. Getting comfortable with crypto is the first hurdle to clear.
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Oh, it would be nice if people would listen... :) The first thing is to LEARN, research, try out... The problem is that 90% jump into some shit tokens, lose money, and never come back...
First, learn, get comfortable as you said, and then slowly dive deeper and deeper... ;)
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BEER.I would recommend diversification in their endeavors in Crypto. Most tokens that I am seeing today are used as a method to fund someone's dream/ideal. These are similar to the dot/com boom/bust of the late 1990's and early 2000's. Most will not be worth anything in 10 years. There will be a few of the thousands out there that make a lot of people a good bit of money. The challenge is determining what is real and what is a ponzi scheme. Since crypto is not regulated there is not as many negative consequences for trying to make something great.
Exactly! It's important to recognize that and start with building your OWN dream and not someone's else...
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ow. I would suggest investing in Splinterlands tokens and some in pools on Tribaldex.
!PIZZA
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Hehehe... That is short and straight... And it works! A bit more investigation into which tokens, but in general, it works... ;)
I love the ideas propposed to be patient, you certainly need patience when dealing with crypto but I think that while they wait, they self educate.
In the crypto industry is complex with many disciplines, miners, traders, investors, stakers or crypto enthousiast i.e. people who use crypto but are none of the above.
I would tell my friend to pick the one area he/she want to learn about i.e. trade, invest or mining and learn everything they can about it before getting involved with any crypto.
There is definitely a lot to learn and if the person starts in a field he is interested in, he will learn much faster.
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I am a bit late, but I do not like to give financial advice because I am not an expert. But if someone really wants me to give them advice, I would recommend Hive, where everyone can find something - from bloggers, gamers to traders.
On the other hand, I also believe in Iconomi, where I have a lot of savings in different cryptocurrencies and crypto strategies.
Hive is definitely a good address to send people. There is something for anybody. With a little curiosity they will learn a lot here around :-)
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Thank you, @liotes :)
I would recommend looking at cryptocurrencies that have a real world value and that you can actually use. There's a few out there that are setup just for min*ng and thats both boring and useless. Being able to use your wealth is important. This Hive is a good place to start, of course.
Thanks for your comment. It's true that real use cases is what matters most.
hi. i noticed no credits added for the comment. was i too late?
The credits are always added on the mondays following the post. We then update the ranking. So unfortunately you were too late this week. There will however be another mission next wednesday :-)
Cool. Im new so will keep my eyes open.
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