Post
Topic
Board Beginners & Help
Re: How to Make Money in Crypto and not lose it as beginner
by
Lida93
on 03/07/2024, 15:58:33 UTC

1. Knowledge First:
This is foundational. If you don't have this you are liable to fall to scam. You need to learn about wallet, exchanges, dexes, and conviction and patience.
So true, these are the first steps any person interested in building investment in crypto should start with before pulling in a cent into it. It amazes me when I get in contact with some new crypto enthusiasts who can't differentiate the difference between a cold wallet and hot wallet and which is best for use in terms of high security .. To them they are wallets for cryptocurrency.

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2. Spot Trading :
This is a tangible skill that differentiate you from another person. With this you know how to make money trading. But ensure you stay away from futures trading. Use spot trading to start.
I think I will still recommend at the beginning for a new trader to perfect their strategies using demo trading before going life with spot trading. Moving straight to spot trading would mean that you'll be losing while trying to perfect and understand your strategy avoiding jumping out of trade in loss due to a lack of confidence on your strategy.

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3. Airdrop Farming:
This is a low risk way to make money in crypto. Learn the popular airdrop in crypto space. Currently Telegram mini app farming is what is reigning.
Am not just comfortable with airdrops due to their associated risks though people do make money from them despite their risks. To stay safe with airdrops connect with burner-wallets. Burner wallet is a wallet you don't use for other transactions or don't keep money in.