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After so many recent good news, here are some tips if you're a newcomer feeling overwhelmed by the vast amount of things you can do in the world of crypto and don't know where to start

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by COINS NEWS 82 Views

TL;DR: Instead of just reading about crypto and different things you can do with it, consider buying a small amount and trying out different tools. If you lose a bit, think of it as a low-cost lesson.

Everything seems hard or are you afraid to lose money due to inexperience? The best way to learn is by doing. Start with the coin of your preference, pick something with low network fees. Invest an amount you're okay with losing, maybe $10 or $20, you're most likely going to lose it, but that's ok. This isn't about making a profit, but about learning through experience. Trust me, hands-on experimentation teaches you more than just reading.

Dive into various activities: try leveraging (read edit), short, long, buy really low market cap coins, transfer between wallets, hell, even buy meme coins, experiment with staking, explore Defi, be a liquidity provider, and check out different platforms. Engage with everything you come across. Do this with a new wallet and a really small amount. Put in some effort to learn. At first everything might seem daunting, but it will become easy really fast.

If you lose some of your initial investment, don't stress out. Think of it as paying a small fee for a valuable crypto lesson. Also, remember that having more knowledge in this space helps you become more aware of potential scams.

With time and experience, you'll make better decisions. Doing things hands-on will always teach you more than just reading about them. Once you feel confident, you'll see the realm of possibilities this technology allows. Whatever you decide to do, having extra knowledge will lead to better decision-making

Lastly, always be aware of the market's volatility. While 800% gains are possible, so are 80% losses. Don't risk more than you can afford to lose

Edit: Of course, I wouldn't recommend using leverage as a strategy to anyone. The point of this post is to encourage trying everything with a minimal amount of crypto. To truly gain a deeper understanding of the ecosystem, it's beneficial to experience everything at least once. Leverage can and WILL result in a rapid loss of 100% of your investment, even with minor price fluctuations. The main idea stands: try and learn from every aspect, at least once.

submitted by /u/BLordsc2
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