Social media has really messed some people up not only by convincing them to invest in shitcoin but by also making one lose everything they have in their wallet more especially newbie. Some weeks ago a friend of mine lost everything in her wallet just by clicking on a link they said she's going to make a lot of money and this look so good to be a lie but because she's still new and she thinks that's how she's going to turn rich in a twinkling of an eye not knowing she's going to lose everything. We should be very careful on what we see or hear online even offline.
Sometimes I don’t blame these scammers, but people who are falling into the trap because knowledge is very important. Many people need quick money, and they think crypto will do that for them. Instead of learning before they do everything, they are too lazy to do that. And that is why they fall victim to the scammers. Just like your friend, now I can’t someone blame those scammers for scamming her even though she is a newbie.
Why did she not ask or learn before doing that? I believe next time she won’t do that again because, in my opinion, everything you want to do as long as it requires money, learn about it before taking any further steps. Bit newbies fail to do that.
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.What you should know in the cryptocurrency industry is not to have a mindset of becoming rich quickly, or else someone can easily get scammed. For example, someone might invest in a shitcoin and, in the end, lose all their money because the coin they invested in may get dumped forever and never pump again.
The easiest way to avoid losing money in crypto is for someone to invest in only Bitcoin and secure their investment properly by using the right wallet, which is a non custodial wallet. Also, forget about making profits in the short term with Bitcoin. Know that there is no quick way to make money from Bitcoin, someone need to be able to hold it for a long period of time before making money from Bitcoin investment.
The use of the word Crypto in your explanation could be confusing to newbies for you can probably use them by calling Bitcoin Bitcoin and shitcoin shitcoins so newbies could get more picture of what you are talking about.
It is important to have some basic knowledge before Investing into Bitcoin as waiting to get all knowledge which is impossible before investing into Bitcoin could be a time wasted for it is good to get started and figure out more along the line as time proceed.
Bitcoin is the best coin to invest on as long as your investment plan is for long time purpose I don't think there is way a an investor will loss his money when be invest on Bitcoin and HODL for long.