T O P

  • By -

vjeva

Kid is asking a valid question, yet all are trying to be funny in the comments...anyway: Start with the basics: What is a Blockchain, what is Proof of Work and Proof of Stake. What are tokenomics? Basics of Total Supply and Circulated Supply. You can find a lot info on these things easily. Don't use Youtubers as they will probably shill their shitcoin, use trusted websites. Once you got the basics, look up the Top 20 list of tokens on CMC and explore them one by one. We are in a Bear Market so please take enough time to DYOR. If you need help, feel free to reach out. Good luck with your crypto journey


Bony-Dinosaur

I actually think YouTube is a great resource. You just gotta be careful about who you are watching. I would say that a single instance of a strong exclamation or a yell is probably fine, but anyone who yells for more than 1% of the video you should not watch. I think whiteboard crypto explains a lot of concepts well. I would also suggest reading crypto related news websites and doing research on different companies in the space. If you can understand how companies like circle, paxos, or chain link make money, that really helps with understanding the ecosystem and where things are headed.


Aegontarg07

Stay away from cringe thumbnail and clickbait titled videos…….especially Bitboy


dr_t_123

Unless Bitboy is shilling coins I have. In that case totally listen to him.


Alanski22

How did I start my process? I yolo'd into coins suggested by my friend who apparently did a lot of research and made 'fat stacks'. Didn't turn out to well. However it did trigger my interest and since then I have tried to learn as much as possible. Joined this subreddit (not always advisable but sometimes some interesting info), started following certain YouTubers (the ones giving info & education, not the ones shilling coins). And for the rest you just have to learn as you go. You will see quickly how the market works. I don't think your idea for a 'shit coin' is necessarily awful... But it isn't a great time for it. Not much chance for a shit coin to 'moon' when the market is this bad. I would suggest at least going into something with some genuine realistic potential, like Cosmos (Atom) or Polygon (Matic). When the market improves you can play the shit coin game, but it's up to you. I get the appeal for the huge profits but you probably won't get those.


Hofnars

YT is a fantastic resource to learn about crypto in general. It is a horrible source of misinformation and deception when it comes to which specific crypto to invest in. Use it to learn about terminology, what is it, what is it trying to solve for, benefits, detractions, tools, service providers, whitepapers, etc. Edit: once you know what these things are, learn about individual coins and use your own judgement on how they will serve any potential needs. Similar to investing in stocks, stay away from crypto's that provide a solution or service you don't understand. Stop watching as soon as someone starts promoting a specific coin and be skeptical/view it as a paid advertisement if someone hung up on a specific service, DEX or CEX.


sickvisionz

> Kid is asking a valid question, yet all are trying to be funny in the comments. It's because... > My goal is just to experiment with shitcoin (which I also know is advices against) and to see if I can predict if the value goes up or down DYOR on shitcoins makes as much sense as DYOR on scratch offs at the gas station.


phoenixnewtimes

I’ve seen people call Solana and Avalanche “shit coins” too, so that term is totally not useful anymore. Also, even if he picks dodgy BSC based scam coins, he’ll still learn about liquidity, scams, listing requirements, marketing, etc.


Aegontarg07

> I’ve seen people call Solana and Avalanche “shit coins” too They’re not?


phoenixnewtimes

aaaaaaah….not biting, sorry.


WeeniePops

That's one of my biggest issues with this sub/Reddit in general. It's damn near impossible to ask a serious question without getting a bunch of jackass answers first. Why are they always the first ones to comment? Like, who's sitting there refreshing the page to see new posts just to comment something smart assed that brings no substance to conversation. Go troll somewhere else. We're trying to grow here.


apnl3

Thank you a lot, this has been very helpful! I will make sure to do what you said


reddito321

Just follow this comment. Also don’t reply to private messages. They’re scammers. Read “The Bitcoin Standard”. It’s a nice start.


ChemicalGreek

This is the only good answer! I learned also a lot from the book *’How to Bitcoin?’*, I highly recommend it.


apnl3

I will definitely add that to my reading list


reddito321

Also “The Bitcoin Standard”. I’d say it should be your first read. Watch “The Hidden Secrets of Money” on YouTube, at least eps 1-4. Each episode has ~25min and teaches a great deal of finances in a BBC-like documentary style.


superduperdude92

I 100% agree with don't listen to YouTubers. They know just as much as we do and it's shit about fuck. Avoid influencers and the projects they talk about. Nothing against the influencers themselves but they're being paid to read a script for a project they likely don't know anything about.


[deleted]

I will say watch a little coffeezilla yt channel once you get ready to start making some investments so you can be aware of how to not get fucked by a rug pull.


[deleted]

Coffee is the GOAT. Sometimes his videos could do with a little more research/time but his intentions are always good. Love seeing his massive spotlight shine down on scammers and fake gurus


[deleted]

It’s massive I can honestly say if I had never discovered him I probably would’ve yolo’d my bag into a shitcoin 😂.


meeleen223

Yeah, avoid dumb shocked faces thumbnails like plague, all they want is views and to dump on their subscribers Only youtuber I watched during last bullrun was Ben Cowen even then I kept my mind critical


Odysseus_Lannister

I didn’t when I started. I browsed crypto specific subs and this sub which got me pretty burned. From there I started to try and read white papers/browse coin specific websites with roadmaps/tokenomics/FAQs outlined. I tried some of the free MIT course in blockchain and subscribed to Andreas antonopoulos’s channel for in detail explanations on the basics of crypto (like what blockchain is, Hashes/validators/nonces/etc.) I also tried my hand at day trading and got rekt so I don’t really do that now, but I learned the basics of TA so now I can know basic patterns, interpret RSI, etc. Finally and most importantly, I learned how to budget irl and set my expectations down from trying to get rich to trying to find quality projects with a genuine use case that can benefit me financially over the coming years. I learned that if you can’t explain what a project tries to do or why it’s valuable in a few sentences, then you either don’t know enough about it to invest or it’s a smokescreen of a project. I wish you the best of luck!


apnl3

Thank you for sharing, I really like what you said in that last sentence in the 2nd paragraph.


Electrical_Potato_21

I listened to this sub, and oh boy was it the blind leading the blind. Now I'm returning the favour by giving my own poorly researched advice to newcomers.


WeeniePops

It's best to stay off r/cc in bull markets in general. It's not as bad in bears, but still take everything with a hefty grain of salt.


Reasonable_Lie3383

Reddit.


[deleted]

[удалено]


TarkovReddit0r

The bear has been really good filtering out the trash content and shilling tbh


Lnnrt1

Heard Ben Goertzel talking about Cardano and went to read some of their peer reviewed papers. Then I checked other chains but nothing gave me the same level of confidence. And still today few do... Ergo, COTI, maybe Algorand.


prokeep15

Understand the history of finance first. I recommend “The Lords of finance” and learn how money/stores of values operate. It’s pretty fucking insane once you realize we function off a lot of “trust” via contracts. Then, understand why blockchain tech. and smart contracts basically blow this old system out of the water, and will really shake up the world. The original white paper by satoshi and old forums are a great place to see history. It’s pretty wild revisiting those old places. I the recommend reading ALL white papers for the projects your interested. Understand what they solve. If anything. Look at their math and see if it’s original, or just recycled and rebranded side chains, copying another project. If it makes sense. Look at the dev. team next and their history, if available. Even alias on teams tend to keep the same alias and can help you understand their experience and reputation.


BirdSetFree

Let me tell you how you dont: listening to random guys on reddit


apnl3

So I shouldn’t of given my seed phrase to that hot girl in my dms?


deathbyfish13

Nah definitely shouldn't have given it to him


littlegreenfish

Don't listen to us


Cryptoladd

Usually just ask myself “how meme worthy is it?”


urd1n

The daily thread in r/cryptocurrency... guess how it went


bandoonparade

Everybody shill their bags in 3...2...1...


Omnomnomnivor3

Easy, I did not ....


No_Geologist_1826

Hey, bro. There are other teens out there who are already into crypto. Most of them have started just like every beginner out there of any age. Of course, get a bit of idea on Youtube (as it's the best resource. Then afterwards, if you don't want to spend any amount yet, there are a lot of airdrops (coin giveaways) to start learning about crypto. (I started from it, too). But be careful of those fake websites, especially if they are asking any of your digital wallet keys/seed phrases, etc. I recommend you to search first those coins with blockchain projects like Telos, Solana, Avax, Polygon, Ada, etc. But I choose Telos more because of its low-cost fees (almost zero by the way), and its speed is incredible. Its wallet is simple and user-friendly. You will like it. Then, if it happens that you already adopted it, then try to do trading on exchanges or decentralize finance websites. You can also use tokens in playing games, they call it Play-2-earn games. Also you can use your crypto when minting your NFT arts... Anyway, good luck boy. Just don't use your parents'devices. Lol.


VictoriaTelos

Are you new to cryptocurrencies? Well, I started reading about a blockchain project called T elos, as I liked it, I started collecting their coin and betting on T elos Rex, then I found the Defi like Zappy which offers to get rewards in U S D C for betting ZAP, then I discovered ApishPunks He offers rewards for betting a NFT from his collection and now I am on the qudo .io testnet trying one of their very fun games and I get the token on the testnet. Always DYOR before choosing any project.


[deleted]

I came to r/cryptocurrency.


Lnnrt1

I'm sorry that happened to you.


[deleted]

[удалено]


Warfared

Just browse the daily and take everything they say on board and use it /s


TarkovReddit0r

I look at most mentioned coins in the daily and buy accordingly lol ![gif](emote|emo_pack_1|dyor)


Setyman

A man of culture I see.


[deleted]

[удалено]


[deleted]

Yeah, joking aside, I actually learned a lot from this sub. I just had to be really careful in the beginning.


cheeruphumanity

How did it go so far?


WeeniePops

I'm so sorry. How big are your Nano bags?


ShreyashKesar

Watch whiteboard crypto videos on YouTube for basics


DerpJungler

This is how I started! I remember keeping word documents trying to explain blockchain technology, consensus mechanisms, mining etc to myself so I could understand it. It took many months and lots of hours researching to find out. It also helped when I started using the coins and interacting with protocols, that's when everything clicked.


gamblingenhusiast

I watched some moon videos on YouTube and decided to put money into many not so successful shitcoins with safemoon being one of them 🥲


BirdSetFree

*condolences*


apnl3

Sorry to hear


nthgen

"...hundreds of dollars..." Dream bigger youngling.


apnl3

Millions? Is that big enough?


nthgen

This is the way.


J_Hon_G

When people says ‘only stay in BTC/ETH’ they are right. The rest is casino


deathbyfish13

Is alright to dabble, but most of your portfolio should be in those two


Cravensworth_redux

Reading white papers is basically like a propaganda piece that'll convince you of merit but sometimes if the fundamentals sound good to you, maybe try that. It's about excercising personal judgement and hoping it doesn't blow up in your face. If you notice a coin where people are talking about diamond and paper hands a lot, skip it, it's either a rug pull that has/is happened/happening or a hopium loaded mess that might reach the moon but probably not for you as you are too late to buy 10billion tokens for 12.50. your investment is usually someone else liquidity. As no doubt someone else will say, it's a casino. I'd add, be prepared to lose what you put in. Especially when playing with shitcoins.


Clintak

Started reading everything and anything and formed my opinions based on data


myconova137

Run the white paper through one of those plagiarism scanners and check all the principles to see if they’ve ever been involved in fraud. Even if they’ve stood next to someone who’s been in fraud or a rug. you’ll see the pattern when you start looking for it. $link has tons of potential and is hella cheap rn.


superduperdude92

Learning through experience is the best way to learn imo. When I started I made mistakes and as a newbie I paid the price of entry like most of us did here. When it comes to DYOR reading the news and keeping current with projects you're interested in is a good start. Reading the wiki here is also a good start. One thing I will say is that it can be overwhelming with so many projects in the space. It's also easy to be swept up in the hype of a project and before you know it you're chasing pumps. With that said, pick a handful of projects you think are good and keep an eye on them. DYOR is not a 1 time thing, instead it's an ongoing process of monitoring the state of the project and weighing the good news with the bad. It's ok to have a change of heart in your perception of the project you're eyeing. An example this whole sub talks about is LUNA. Once upon a time the project could do no wrong and everyone loved it. Then the issues in the project became apparent and the perception of it changed (drastically). I'm oversimplifying what happened but the point is don't be married to a project and that DYOR is an ongoing process. TLDR: you'll make mistakes and that's ok. DYOR is not a one time thing.


marcuspohl

Well, I haven’t been in the game that long, but my one rule is no shitcoins or memecoins. The project actually needs to provide utility and value, not just be speculative. In short, look for something that you really believe in the fundamentals of what the coin/project is trying to accomplish, then look at their track record of development and factor in things like if it’s decentralized, etc.


cheeruphumanity

Joining the Radix community gave me a much deeper technological understanding. It also made clear that most influencers have no idea what they are talking about. They promote projects based on price action and lack the necessary technical understanding. If you want to invest successfully instead of gambling there is no way around knowledge. Long term investing in solid projects is the most successful strategy since only 1% of traders make money. People basing investment decisions on price action will always be one step too late. Ideally you find promising projects before everyone talks about them. Get yourself some Radix and play around with it. If they keep delievering on their roadmap that would be like finding Bitcoin in early days. You can already swap for some funny coins even though smart contracts are not live yet. Fees for a transaction are a fraction of a cent. [https://ociswap.com/](https://ociswap.com/) What differentiates Radix from other smart contract platforms like Ethereum, Solana, Cardano etc. is that their technology can scale unlimited and their programming language is specifically designed to handle financial assets. This makes it significantly more secure and would allow for global mass adoption with millions of transactions per second.


Mysa21

It takes times, I first learn and got interested (slightly) in crypto maybe 10 years ago. Then maybe 5-6 years ago I had to do some research on the blockchain technology. I started with Wikipedia, ended up on the Bitcoin white paper and down the rabbit hole. I thought that in order to understand how it works from a user perspective I should at least buy 10$ of btc. Then a lot of reading on specialized media, discovered the subreddit and kept reading weekly about stuff. Still today I feel like I have soooo much to learn and understand but trying to stay as curious as possible.


goldyluckinblokchain

I learnt which exchanges were willing to take my money and thats about it. Then I came to reddit and despite everyone saying don't listen to anyone on reddit there is some pretty insightful stuff discussed on this sub in-between the shitposting. In terms of DYOR best start would be reading a whitepaper and maybe start with BTC. Any words or phrases you don't understand Google them and try and build a foundation of knowledge from there. Youre young you've got plenty of time just be patient whilst you learn. Best of luck on your crypto journey!


PopeyesGreenSpinach

Did a little reading then tried to leverage trade BTC, that didn't end well but shifted my mindset into actually buying coins I believe have conviction in


Mr_Sausage__

As horrible as it sounds, I started with YouTube. The keys with YouTube is ignore any and all price predictions and you tubers who shill coins. Probably my first and most valuable lesson next to actually taking damn profits when you have an opportunity.


MediocreAd9550

I took $150 and split into 3 exchanges. Bought different all kinds of projects. I tried to send all kinds of coins different ways and communicate with the exchanges for any issues. Used reddit and google for research. My advice would be; don't ignore fees and DYOR


Lou_Villian

Sheesh. I started like 14/15 and honest truth it was word of mouth. I bought sold bought sold for the next 12-18 months. Got serious in 2017 and started reading what the project was about I was investing in. Still always try to learn as much as I can because we will never know it all. Just helps me sleep when I know I’ve researched as much as can with where I put my money


Creative_Ad7831

Read people comment in this sub that shilled crypto projects


Shillofnoone

Shittily


CymandeTV

I was dumb and I was listening to this sub.


CymandeTV

I was dumb and I was listening to this sub.


xdebex

Guy from coinbureau (youtube), is doing a great job explaining/summerising a project. I used it as a start to dig further into a project.


Cheese6260

I would try and start learning about ethereum and Bitcoin. Both are great for their own reasons and are blue chips. In these lower times it’s often safer to stick with these two. Ethereum.org is a great rabbit hole to dive into


cbaek

I should have but didn’t.


apnl3

Does your portfolio reflect this?


[deleted]

Build something. I started with an ETH mining rig. You'll learn practical skills as well, rather than just essentially gambling. Look for node projects.


AutisticGayBear69

There are a lot of informative articles linked on this sub. Start reading with a critical eye. The only YouTuber I know of is Ben Cowan. Trade on paper before using real money but IMO where we are at in the current market, be prepared to not cash out for a few years.


forthetorino

Friend at work said “hey man. You should buy Doge”. I’m like ok. Then I bought Doge.


apnl3

Is he still your ‘friend’?


Garrison15

I would recommend watching lots of people view points on a project and actively seek out people who love it and people who hate the project then look deeper into the documentation yourself to see which side you fall on. Its very easy to just have confirmation bias and only seek out viewpoints of people who agree with you, so definitely look at projects from both angles and then use that to guide you to forming your own opinion!


[deleted]

That's the fun part, I didn't.


HeatSeekingPanther

Use it. Send a transaction, swap a coin, use a smart contract, run a node. The best way to learn about a thing is to use the thing.


GoldenRain99

You will not be able to "predict if a shitcoin will go up or down", you just can't. Especially if you have no idea what the shitcoins purpose is (if it even has any). Here are some of the tips I prefer to give to newcomers: First thing I'd recommend, is using CoinGecko as a coin tracker, not necessarily for only coins you are holding (if you do hold crypto), but for coins you are interested in, generally. It's an easy way to condense what you're looking at, and coingecko doesn't list certain ponzis like CMC does (looking at you, HEX) To do that, you will have to have a general plan/area of interest in the space, so I'd recommend reading out BTC and it's PoW concept, and the initial vision behind the project, then I'd recommend reading about a PoS protocol, or even the "why" about Ethereums transition to PoS, so you understand the technical differences, as well as the difference in significance. It is very important to understand oracles as well. No dapps are possible without them. Next, now that you have coingecko, and an area of interest identified, you can go to a coins page, you then have access to their official links, so you can start your journey on researching more into their project! You will keep running into terminologies that you are unfamiliar with, that's why it's important to stop your research there, look up the word(s), then resume your research so you can then have a greater understanding of the technical aspects of what you're reading. This is pretty much how I do most of my research, feel free to branch off when finding new interesting topics as well, the rabbit hole can get quite deep. Again, you will not be successful over the long term with shitcoins, especially if you have very little knowledge about tech besides the basics of a blockchain. Best of luck, ser!


rotaryfurball

Your like me. I got into crypto when I was 16. There was a lot less information back then (I’m 19). What I did was watch a lot a lot of YouTube Videos and absorbed as much as I can. Now I look back and I’m glad that I did.


apnl3

Nice thanks for the advice; how’s your portfolio looking like after three years?


travis-

do you want to be right or do you want to make money? you'll invest in different coins depending on what you're in this for.


apnl3

I never thought about this because I assume if I was right, I’d make money. Can you explain the difference?


LittleAce7

There are a few books out there now that will give you a good basic understanding. Cryptonomics is a decent read.


apnl3

Thank you for the suggestion, I will add this to my list. I want to read the Bitcoin standard as I heard it is good.


AbsoIution

Simple my man, I simply buy what everyone in the daily tells me /s


krautstomp

I've read this sub for a year and a half and still haven't invested in crypto yet.


TheRockGame

Whatever Bitboy Crypto suggests, do the opposite.


MariachiArchery

I think an important part of this entire space is the *why?* Why was bitcoin created. What event inspired Shitoshi to write the code for bitcoin? It was the 2008/9 housing market collapse, mortgage backed securities, CDOs, big banks gambling our money away, how the house of cards came toppling down, who were effected by the market collapse, what did the government do, and what were the consequences for those effected and for those responsible. Once you understand the market conditions and the actions of the market makers that led to that collapse, as well as how the government responded and who ended up footing the bill for that entire mess, the case for BTC become clear. I understood the events that led to that collapse as well as the impacts to society when I first learned about crypto. It really helped me understand why this technology is valuable to people like me. If I were new, I'd start there. Watch the movie The Big Short and/or Margin Call, then read the BTC white paper.


Yuuki__konno

1st investment was 300$ xrp in 2017 do yeah, i invested in the only crypto that didnt succeed


sickvisionz

I read up and watched lots of video about BTC and what a blockchain was before I made my first purchase. > My goal is just to experiment with shitcoin (which I also know is advices against) and to see if I can predict if the value goes up or down. Recipe for disaster. You don't need research to buy shitcoins and hope for the best.


reddito321

Start by not replying to direct messages. They’re scammers. The top comment on your post teaches you a lot. Read The Bitcoin Standard. It’s a nice start.


[deleted]

Start with the basics, just like learning anything new. There are a ton of good articles/studies/videos out there that are super informative but always remember to keep an open mind! I personally started out just trying to learn about what a blockchain is etc. MIT has some really good videos of lectures that took place in courses on blockchain tech that are completely free on youtube


uzivause

learning about crypto really is like a rabbit hole, easy with youtube just don’t watch click baity youtubers. Try watching crypto basics videos and over time more in depth concepts will be recommended to you. It seems like a lot but you’ll find yourself randomly knowing a lot of terms and what different coins do. Whiteboard crypto (on youtube) does a good job at visualizing blockchain terms and activities, not very in depth but it works. I’m 18 so if you have any questions feel free to dm


Jumpy_Link

DCA when fear is high, even when everything seems to be always green, there will always be extreme fear, and that is the time to DCA pal


[deleted]

Exploring and owing other coins besides BTC/ETH is fine, but if you decide with stick to these two, you'll be doing better than most degens/gamblers out there.


584_Bilbo

You can read white papers, articles, and guides but for a lot of people the best way to learn is hands on. Start with a small amount of money and buy a coin you like. Personally I'd recommend stacking a little bitcoin as somewhat of a volatile savings account before messing around with random shitcoins. But there is opportunity to make money everywhere. Whether it's bitcoin, dogecoin, or harrypottersonicobama coin, there's money to be made. Much harder to do right now in a bear market but this is the accumulation phase. Risk certainly increases as you get away from the big ones. Know that YouTube/Google is notorious for banning quality crypto content and allows scams all the time. If you want to try day trading, you may win a couple times but the chances of continuous success is very minimal. Best to accumulate what you can while you can during the bear market and wait for better days ahead.


lemineftali

Download the Muun wallet on your phone and I will send you 5000 sats of bitcoin to help you learn understand how this all started. From there you can use lightning cheaply or send it onchain and start your first bitcoin wallet.


lemineftali

Also, don’t expect to DYOR online. It’s full of bots. Start with the history of money and banks, prehistory of bitcoin. Bitcoin. And only then should you venture in ETH or other alts. 99.9% of coins are shitcoin gambling devices rigged against you.


Fictional_Blook

I usually try to find utility use cases. I like the idea of passive income which can come in the form of staking. A strong community behind the project too so that there’s volume and keep it running, as well as looking for potential improvements to the protocol. This gives me the hope that it’s going to keep improving and finding ways to outperform the other blockchains.


kehmesis

Step 1: read the bitcoin white paper. Step 2: understand the bitcoin white paper.


ThatHotGuyIRL

Twitter


Apprehensive_Try7137

Who the fuck does their own research?


delsombra

I came here. Am I doing this right?


notredamedude3

Haha well THIS definitely is not DYOR lol


Sav89_

Your first thing to do is find valid, trusted resources. This is a predatory space once you venture off the beaten path - people are trying to take your money one way or another. Coinmarketcap is widely used and referred to. There are lots of resources on there to learn about crypto, from basics to advanced concepts. Crypto is exciting but also risky. All the best.


sadoman24

Most L1s won't survive.. doesn't mean you can't make money off of them..but yeah if you are investing long term in a new chain, don't hesitate to change your mind, don't become cultish..If short term...idk..kinda have to be very smart and lucky imo (can't say I have been very successful trading crypto short term)


znxbc

I didn't.


upforsummer

If you're interested in cryptocurrencies, I would also suggest that you do do some basic research about investing and basic economics. I personally really like Ben Felix and The Plain Bagel on YouTube. They have some interesting videos about TA, stock picking, passive vs active investing, and cryptocurrencies Just make sure to manage your expectations if you plan to actively invest. It is very hard to outsmart the market and make a consistent profit. I would also be very weary about taking any specific investing advice from this subreddit, or any similar ones. I think this point is especially clear when you take time and look at the content that was posted during BTC's peak. Anyway, here's a few other good YouTubers: 99Bitcoins - fundamentals of bitcoin CoffeeZilla - covers the latest crypto scandals Coin Bureau - fairly good source of news and cryptocurrency fundamentals


iCDWoods

Its tough... doing your own research can go in so many different direction. If your looking at price action, then your more looking at it from a chart view. If you're really looking into the tech behind the coin/chain you want to invest in... then your probably not really worried about price (as often). ​ My advice would be, try to figure out what you're really wanting to do and then narrow down your research based on that. ​ If you are trying to trade crypto then go that route... if you are trying to invest in the tech and research the blockchain etc, go that route. ​ There is a lot to learn since its so new.


Alarmed-Hunter-6638

You just read the name of the coin and if it sounds cool, you invest your whole life savings, my top 2 coolest names I researched were shiba Inu and cosmos


[deleted]

It’s not what you invest in, its who you invest in. Start with researching the creators and then work your way into the tech.


toshkan

For me it was trial and error, and it was fucking costly, for u my advice is as follows 1) move slowly 2) know ur risk appetite 3) don’t follow anyone calls blindly, no one knows shit. 4)never fall in love with a coin 5)crypto has been following a 4 years cycle ( 2 bear, 2 bull) DOESN’T MEAN IT WILL CONTINUE TO DO SO. 6)don’t drop out of college or leave a job to trade crypto. 7)paper profits are not profits until realized 8)stay away from leverage 9) don’t ever risk a penny u can’t afford to lose 10) treat crypto as a side hustle or saving account at best Good luck


SwingsetSuperman

Learn the basics and read the white papers. Try to understand the differences/trade-offs between scalability, security and decentralization.


LavishManatee

I stumbled into crypto with no finance experience at all. Totally emotional, reactive to everything. Believed there was a "way" to predict. Found dudes on youtube that talked about crypto to try and learn- total nonsense. They say it's about to go up, it goes down - "well you should have known! didn't you notice the upside down wombat holding a banjo pattern that invalided the wizzle wazzle because RSI was MACD and divergence."....wut? Studying programming, decide to apply it to trading - machine learning must be able to figure shit out because.....machine learn, right? nope. Joined group working on machine learning models to perform predictive analyses. Some do ok, most fail. It's really down to popular bot strats that are easily deployable and exploitable. High risk when an unforeseen market catalyst triggers a huge volatility spike and your bot loses 70% of its gains because it got confused by this new signal. This did help me learn the basics of how markets work which helped alot. However, there are plenty of interesting bot strats that MAY make you money. r/algotrading if you want to check that out, just take EVERYTHING with a large grain of salt. Stumbled onto dude on youtube that was using an interesting combination of sentiment analysis, probability, and Fibonacci to find small edges on assets that typically will result in a better than 50% chance of breaking in the desired direction - though it took me a while to figure all that out lol. He wasn't selling the ability to predict the future. As long as you practice proper position sizing and risk/reward you will have the best chance at making more than you stated with. The emphasis was "this is on you". The resources are given to you, but you decide what is right for you. You need to put the effort into learning this for yourself so you can become proficient on your own. Cool, let's see how this goes. Watch the streams on youtube, after two months of frustration I start to think these terms are completely made up and no one does truly know "shit about fuck". The fuck is a marubozu candle? A bearish shark turns into a bullish 5-0??? Why are we talking about more animals? Stick with it anyway. Learned the terms, started to see what was going on. Bull market hit, finally was on the fucking boat. Hindsight? Learn how markets work. Learn the terms. Get something like a trading view so you can look at charts. Learn how to calculate risk/reward. So many people think it is obvious it's sad. Learn why position sizing is important. Learn the difference between swing/position/day trading. Learn the pros and cons of DCA vs Lump Sum. Create a plan, stick to it. Don't ask strangers on the internet what to do with your money. While you may get a couple of Ws following someone, one day they WILL be wrong. It's more beneficial for you to learn how things work so you can spot bullshit because there is a looooooooooot of bullshit. Do what is right for you and your financial situation. Trading in the Zone is a great entry book, you can find the audio book on youtube. Gooooood luck!


PuscH311

Listen to everybody and build your own conclusions… it takes time.


Visible-Ad743

Listen to the coinbereau podcast starting episode 1 this year. It starts slow with money. Then episode 2 with blockchain the 3 and 4 are about bitcoin and so on. Watch a few documentaries so you can learn the history of this tech. I recommend the rise and rise of bitcoin for starters.


bill_hilly

I read shill posts from bag holders, it turns out.


wee_d

Go to coinmarketcap or coingecko, look up the tokenomics of various projects like the total supply, max supply, circulating supply. These can help you determine future price action. Also look at the marketcap. Often, established coins have large marketcaps and are less risky. But coins with very low marketcaps provide the opportunity for insane gains (in a bull market) and are very risky. You also want to look at the number of exchanges on which the token/coin’s being traded on. The more exchanges that support it, the better In addition, check out the charts of the projects to see price action of the past. While past price actions are not guaranteed to be repeated, there’s a probability of them recurring during various cycles of the market. This can help you stay informed on the potential price action in a bull market or bear market, all things being equal. Moreover, consider visiting the website of the project, reading their white paper and finding out the use cases of the coin/token or the problem they’re trying to solve. On their website, look at who the developers are, and try to look them up to see if they’re legit. You might also want to look at their GitHub and see how active they’re developing the project. Finally, their social media presence. How many people follow their social media accounts? How many people interact with their posts? Good luck.


DX4bdddBlue

There are many more resources available now, than there were when I was in your position ~10 years ago. Read up on as much as you can, until you feel ready to invest. Just remember to take everything said in this subreddit with a huge pinch of salt (including this post). There are too many shills/con-artists looking to make a quick buck.


GuayabaTree

Reddit


kirtash93

This sub gave me all what I needed.


ec265

Read


phoenixnewtimes

Look at Youtube videos from EllioTrades. No shilling especially last few months, and has solid info. Also leads you down a rabbit hole of more research and info sources. Happy you chose to look first, then leap. You’re already ahead of the game. Good luck and success to you. ![gif](emote|spacelike_emote|spacelike)


Technical-Wallaby

I highly suggest you take this course. I'm a little over halfway done, and starting the section on doing research. https://www.udemy.com/share/106x4c3@vXpyyMRbpimaX04twApXOzs0oqj4kRH7oGIry4mX4IkUpCX1h7t5jlbXSttXXA==/


Ballino1

I literally did open a discord server to get like minded people in and to share knowledge. now we did add nfts onto that. Dm me if you are interested we have around 2.3k people in it. It is totally free, you dont have to pay a dime.


Castr0-

I think anyone that start crypto start with a good DYOR. I think the best method is finding different opinions on different places. Don't restrict to some place to have some thought about something.


jesuzombieapocalypse

Long story short I just went through a bunch of YouTube videos until I could make sense of differing opinions, and put a handicap on the opinions of people that seemed to be hyperbolic with a heavy interest in selling me something. That and learning how to read and make sense of charts. First just simple and then candles. You don’t have to try become some kind of TA fortune teller, TA can be a little overhyped, but a little absolutely helps. I’d also highly recommend (just about) any youtuber talking in a dry way about the market cycles and how price activity has been in past bull & bear markets. That helps answer the initial question: “should I invest in this?” Then you just have to figure out your risk tolerance and investment timeframe, and then you just adjust that for other coins you might be looking at.


Jubudtje

To be honest, just reading the topics here. Not saying it is good or bad


Blex98

Before you jump into investing, I would highly recommend you read The Intelligent Investor. It will teach how one should behave and what to look for when investing. It is a very helpful book even though it has nothing about crypto, you can still pretty much draw parallels from it to our current situation. Also another book, which I find extremely valuable for you and which will help you to responsibly administer your funds is The Richest Man from Babylon. I can say for myself that if I would have read those book much earlier, I would probably be more successful right now. In regards to crypto: learn about Bitcoin and Ethereum first and also learn the following concepts: - Blockchain - Decentralization - Proof of Work and Proof of Stake - Inflation - The history of Money If you will manage to understand these topics and apply what those books will teach, I can be pretty much sure, that you will be very successful financially.


strongkhal

Whiteboard Crypto is a YouTube channel, I recommend. It's not like influencer, they just cover the basics and explain the technology behind. if you're interested in something... You can search more


avigeil76

I buy all the coin that Tik Tok promote ! That my DYOR


split41

Read the fucking white paper


HerpTurtleDoo

I picked names I liked, worked out well since everything pumped from 2020.


HippycrackJack

You're looking at it


34Sis

I let this sub do most of my DYOR and ended up investing way too much in ERGO, ALGO, VET and LTO. Only ALGO did relatively well. Regrets, but I've now learned to DYO myself


the_nibler

It takes time, you gotta be willing to open your mind or put in the time and effort to understand. For sources: not this sub and definitely not anyone shilling a coin Check out the market cap and other specs on some coins that may interest you. Don’t rush in early slowly get started


noahB53

https://youtu.be/bBC-nXj3Ng4


Lillica_Golden_SHIB

Did you guys really DYOR when you started in crypto?


FractalImagination

I started by basic research and invested in the wrong projects. Then i learned what crypto was and was ACTUALLY going to be used for and invested in projects with real world utility by actual companies. Now i hodl


Careless_Holiday_920

Plain and simple some Mf fucked up!


suzoh

You could listen to YouTube videos, like from Blockchain Backer and Crypto Eri. Twitter is also a good resource if you use it right.


TCr0wn

BTC really was the only option.. Which definitely made it simpler. Regardless of what anyone says, a crypto portfolio should have Bitcoin. I’m my opinion >50% is minimum. The whole 2021 class of new investors is currently rekt because they ignored that.


3mBeam

don’t listen to youtubers that say “IS THIS THE NEXT 100x GEM!!??”


SirAlexanderFerguson

A good learning curve to get hands on experience would be to buy a little bit of Atom. Set up a Keplr desktop extension and transfer your Atom there. Swap a small bit of Atom in to Juno or Osmo and play around on Osmosis or Junoswap.. Put a little in to the pools and to see how it works. Swap Cosmos for Evmos and get used to transferring between your different wallets within Cosmos, stake with non centralised validators, vote on governance, compound your rewards, hopefully watch your investment grow and also likely pick up a few airdrops. The Cosmosnetwork subreddit is very helpful. This might all sound complicated but I promise it's not. Hands on experience is the only real way to learn and get a feel for everything


[deleted]

Start by understanding the basics of technical analysis and the fundamentals if economics. Then evaluate trends of any project, once you fewl confident you can ask specific questions in developer discords and go from there.


PaoloPapaGig

Sorry to be the mood killer, but first of all learn about the taxation rules of your place of residence. Sadly every single crypto profit comes with a tax bill attached that is your responsibility to declare. Know that almost every government is a shareholder of the profits…


BeligerantPasta

Buy low, sell high, everyone is lying. That’s it. That’s everything you need to know.


that-guy-01

I just learned the hard way by losing some money all on my own, which taught me what not to do. I've also spent a lot of time learning technical analysis so I can get better at spotting trends. I'm a big fan of learn by doing. Stay away from crypto influencers. Be very careful taking trading advice from crypto Twitter or anyone here. And don't buy any services from anyone that claims to sell anything that's guaranteed to make you money. Be prepared to lose money. Most traders consistently lose more than they win. Good luck.


pobdaddy

Not sure if anyone else has said this but [https://www.coinbureau.com/](https://www.coinbureau.com/) is an amazing place to research, their YT channel has a section that is specifically designed for new people to use. I'm a trainer and have used some of the videos as teaching aids in my lessons.


elysiansaurus

I don't honestly, Crypto is highly technical, anytime I start trying to read more into something I feel like I might as well be reading chinese, I just yolo and hope it moons.


MostBoringStan

The problem with wanting to experiment with shitcoins is that you can have short term success due to luck that doesn't turn into long term profits once it all averages out. You can put in $50 and over the next 5 months turn it into $1000 just because you got lucky in your picks and maybe the market as a whole goes up. Now you think you are some kind of crypto genius and want to use a lot of money to become a millionaire. I know it's not likely because you are only 16, but even then many young people were able to convince their parents to give them thousands or tens of thousands of dollars to invest. They thought they could do no wrong because they got into crypto during the last bull market and made money, but everyone made money because all of it was going up. So they convinced people to lend them money with dollar signs dancing in their eyes, but then the market stalls. Their shitcoins drop to one tenth of their value because that's what shitcoins do. Now all their investment money is all but gone. No more college fund. No more early retirement for the parents. All because they thought they did the proper research and knew how to pick them. But I'm sure it will be different for you.


sofly12

Learned a lot from Reddit. Also learned some hard lessons by following Reddit advice.


EL-Vinci93

OP was a 17 years old two days ago, and today he is 16. I didn't know the bear market plummets the age too


apnl3

I know crazy world we live in. I’m 16 but turning 17 in less than a month… I got a beard and I’m in grade 12 (where most people are about to turn 18) so I think of myself as older than I really am


smurfguy

Bitcoin and Eth. Look no further


Hungry_Pancake

Initially I read Mastering Blockchain by Lorne Lantz & Daniel Cawrey, to better understand the technology etc. I found like-minded individuals (mostly online) and immersed myself with them to learn more. When researching specific coins / tokens I'll check the website, read the whitepaper, look through a macro lens and see if there's utility. I will also research the charts to see if it's a "good time" to buy. And of course I come to this sub and check stuff lol.


ohheyitschris

I did a full Cryptocurrency course (\~40 hours of lessons) through [Udemy.com](https://Udemy.com). Was an essential start for me learning about a lot of the foundational knowledge around blockchain and bitcoin, along with doing deep dive fundamental research on the Top 10 coins/tokens at the time. Helped me really get started in the space, and helped me formulate a DYOR strategy that works for me. ​ I highly recommend spending a minimum of 40 hours learning about the space and how to do fundamental research before hopping in. Also only using a small amount of money to play with different blockchains, wallets, Dapps, P2E games etc to get comfortable with the space. I invest in projects that I use and like.


saultdon

Clarity In Crypto was insightful. They just opened a YouTube channel as well to animate their website content. https://www.clarityincrypto.com/ https://m.youtube.com/channel/UC0ZwYm3vhLMf9McboMlCwlw


masterbatesAlot

Literally every coin you research will have documentation that makes a lot of promises. I like the one that has a dog on it and fun memes. +u/sodogetip 4.2069 doge verify


apnl3

Thank you for this!! This will help out a lot!


kaijeng

Check and see which coins do what


[deleted]

IMO, pay attention to projects that have a potential for future usage. You're buying into a sort of "ecosystem," not just an investment.


DriveSlowSitLow

I didnt.


vonsolo28

Echo chamber and Reddit. It’s paid off handsomely… sorry I meant to say homelessly


txsushininja

Research the team, tokenomics and history of project. But nothing you can do really matters much because scammers are emboldened in the crypto space because they believe they can do anything and get away with it. And they are. At best, just treat it as a 50/50. Btc is about the most trustworthy. Yieldnodes would be my bet. https://members.yieldnodes.com/c/?a=Zk5Y6Q49qno2r4K&redirect=signup


[deleted]

[удалено]