Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Ruttoshi
on 23/10/2024, 18:27:12 UTC
The truth is that, as a newbie, someone can't have all the proper knowledge to fully guide them away from scammers, because they always come up with different strategies to scam people. And trying to get the proper knowledge before investing may be wasting of time which even with year it may not get it because scammer are also coming with different tactics. Infact Even those who have been in the crypto space for a long time can still fall into scammers' traps, especially if they have the mindset of becoming rich quickly in the cryptocurrency industry.
One of the biggest challenges for newcomers to the crypto world is staying away from scammers. Scammers always lure newbies with new tempting offers, they make offers that a newbie is easily lured into. So when a newcomer comes to crypto world, the biggest risk for him is to fall into the trap of scammers, so they should always move carefully, they Don't give your personal information to scammers by falling for some kind of tempting offer. Because this will give the newbie all device and wallet access to the scammers and the newbie may lose his entire portfolio.
If anew investor that has the mindset to only invest in bitcoin and hodli for long-term, and he stays focus on only buying every week or month whenever he gets his funds and focus only on that, he will hardly fall for scammers because initially he wil be keeping his bitcoin in an exchange for a while, and during that period, he can be learning on which wallets is the best self custody and open source wallets to safe his bitcoin. Cold storage, air gapped open source wallet is good and safe.

It is when a new investor does not stay focus on only building and growing his bitcoin investment constantly, but is looking for short cut to make profits through trading, shitcoins or giveaways due to greed that he will be vulnerable to attack and get scammed. This is why a new investor should only focus on investing and keep his bitcoin accumulation ongoing for 4-10 years and above so that he does not distract himself and fall for scam.