Where to start with Crypto?

SocialManager said:

I tried 6 medications + 2 therapists over a period of 2 years, no improvement with anxiety or anything else. Melatonin helps me much more with my sleep, which is the only thing some of the medications helped with. It works for some people, didn't work for me, and lots of doctors hate prescribing different treatments and give up on their patients, making the patient feel even more hopeless. I worked in a hospital for criminals with mental disorders and I have studied the subject for years in university.

Yes, they can help some people, but there are plenty of cases where someone had a full team of nurses, psychologists, and psychiatrists treating them, they were taking their medication, and the doctors all signed off saying they were good to go, and the day they were released they either killed themselves or someone else. I am a supporter of medication and therapy, I just don't want people to get too hopeful in case they use their few resources to go and it fails for them.



Bitcoin is old school and has lots of support from big players, but it's just not that useful for everyday transactions. Coinbase is what we call a centralized exchange - it means you are asking them to hold your coins for you and keep them safe. Metamask and TrustWallet are what we call decentralized wallets, and you are the only one who has the key to access your coins. Metamask does not work with Bitcoin but TrustWallet does. TrustWallet has a handy app to install on your phone and it makes it very easy to get started. If you lose your "password" to your wallet, you could lock yourself out of your money forever because it's the same as losing your wallet full of cash basically.

Click to expand...

Thanks for you answer, at the end of day I ended up using Exodus, since Metamask and TrustWallet don't have a desktop version.

if you want to do trading then use binance or ftx like exchanges

exodus, metamask etc are the wallet to store your crypto

you cant trade there

in exodus you can exchange coins but fees will kill you and you wont get the price you want

you can also do leverage or margin trading on exchange like binance, ftx, bitfinex, i dont recommend it to new trader, its very very risk but if you manage your risk and have a system then it could be very profitable


and one last word

trading is very hard, very very hard and you need very good capital to trade and also you wont became profitable trader right away, it could take 1 year or 2 year or more than 2 year, if you survive it

good luck bro

I'd recommend start learning about general investing over multi asset classes rather than only crypto investing. You need to gain skills and have the motivation to gain a bit of capital to invest. Its a long-term life long strategy. Too many want to get rich quickly with no capital which is a complete scam or highly risky.

start with crypto?
you start with understanding what is crypto blockchain and the underlaying technnology pro and cons. and why it still have a lot potential

tired of being a broke loser and want to do something with my life.?
choose 1high money skill. competitive skill that people pay a lot of money for example programing, best is solidity programer. than spen 10k hour only learning and grinding the skill to be expert. build your portofolio up as you learn and grin. than sell your skill.

Read the entiire crypto section on BHW. You can also sort threads based on views or responses.

Trading is riskier
Learn how to find the right low-cap gems (these coins blow up 30x or more)

First read about crypto history on internet and then decide where you want to invest.

Before investing money in any plan, you have to do full research about the plan.

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

I would suggest you to get active on twitter , following correct people not influencers who dump on their followers . Invest with what you can loose . Market is very tough these days

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

You are not a loser my friend and regarding crypto please invest alot of time in learning about it before diving in. Best of luck!

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

Try binance and it's academy

kalpana007 said:

Before investing money in any plan, you have to do full research about the plan.

Click to expand...

What advice can you give regarding the research stage

Give some time and read all threads on BHW in crypto section. Members have shared their experiences here.

First of all , get an job then build yourself mate !

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

I think Coinmarketcap and Binance are 2 places you should look at. Coinmarketcap gives you knowledge about coins. And Binance is the most popular cryptocurrency exchange today.

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

Buy Luna Coin and Enjoy Thanks Me letter

Learn about price action first, it's the most important thing. Once you do, trading will make a lot more sense to you.

It can be very risky and you can lose all your money, if you don't know what you're doing, or if you're just unlucky which is why some people might call it "gambling" but imo this can all be mitigated with proper strategy.

You will want to make a tradingview account for chart analysis, learn about the patterns and common terms like support and resistance, and understand how they work in the market.

Also, you will want to follow some very strict rules. These rules should never be broken, even if you think you have found the next 100x coin or whatever, never break them, greed leads to liquidation.
I copied them from my own signals channel so it will seem as if they are related to following signals, but they apply regardless (I will not be sharing the channel because it's against BHW rules to promote outside stuff, so please don't ask me to).

Rules:
1. You should never use more than 3% of your total balance per trade, if you must then 5% at MOST.

2. Never go all in on any signal, even if you think it will definitely be successful.
The crypto market can never be 100% predictable, you risk your entire balance for no reason by going all in.

3. If you are a beginner trader, you should use no leverage but if you really must then 5x as maximum. Higher leverage means higher risks for higher profit, you should not risk it unless you are highly experienced and if you do risk it then use 1-2% of balance maximum.

4. Never revenge trade.
Revenge trading is when you take a loss and try to get it back by making riskier trades such as higher leverage or higher margin.
This will lead to failure, never do it! If you have an unsuccessful trade you will make it back, if you trade responsibly and don't take extra risk for no reason.

5. Never open more than 8-10 trades at once. If the market suddenly becomes more volatile or dumps then you risk bigger losses.

6. Don't get greedy, follow the take profit you set and don't keep waiting for more profit.
Even if it does become more profitable, don't deviate from your strategy. Sure, you might feel bad afterwards you could've made a bit more, but look on the other side you couldn't not pulled out and gotten liquidated or hit your stop loss.

Finally, learn more about technical analysis before you begin trading. As you are learning, I recommend not making trades but still noting down your analysis / what you would have done. So you would make your TP and SL points without investing anything, just to see how it pans out. After a while, you will know your accuracy and hopefully see your skills are improving.

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

There are a lot of youtube channels in crypto niche where you can learn basics of crypto for free. As a newbie you have to be very careful where you invest your money as there are a lot of scam coins.

Chirner said:

I'm tired of being a broke loser and want to do something with my life.
I really want to learn about crypto and crypto trading, where do you think is the best way to start learning about this stuff?
Thx

Click to expand...

This should help you to understand the basics:

I am curious as well.