/NFG/ - Newfag General & QTDDTOT

[Biznessman No.24328821]

Newfag General is for everyone new to crypto and for questions that don't deserve their own thread.

the cream is dripping edition

>Guides

• Basic Terms you need to know: https://academy.binance.com/en/articles/12-terms-every-crypto-trader-should-know
• Full Guide to Markets & Trading: https://academy.binance.com/en/articles/a-complete-guide-to-cryptocurrency-trading-for-beginners
• Ways to store your crypto: https://www.investopedia.com/news/bitcoin-safe-storage-cold-wallet/

>What are the first steps towards becoming a /biz/nessman and how to not be a complete retard

• Only invest what you can afford to lose
• Buy low, sell high
• Take profits if your investment is on a steep way up
• Always do your own research
• Learn basics of technical analysis
• Holding your coins is almost always more profitable than trading
• Lurk before posting
• Stick to the basic coins (BTC, ETH, LINK) before thinking about buying shitcoins
• Not your keys, not your wallet, not your coins
• Don't trade with leverage, or if you have to start with ETF's
• Set stop-losses
• You can never leave

>Which Exchange do I pick?

• Recommended CEX - Centralized Exchange

‣ Binance
+ Biggest CEX, great liquidity
+ Very wide range of tools and functions
+ Decent range of coins
+ Low fees
+ Lots of resources to learn
| Only needs KYC if you trade with big amounts
- Range of tools confusing at the start
· Referral ID for 15% lower fees: VFZQTCLB

• Recommended DEX - Decentralized Exchange

‣ Uniswap
+ Biggest DEX, highest liquidity
+ Supports almost ALL ERC-20 Coins
+ Easy to use Interface
+ Uses your own wallet
- Only swaps your coins, almost no tools
__________________________________________________________________________________

I will be putting together a pastebin once we have enough questions/answers and contributions.

[Anonymous No.24328919]

lurk more faggot
>• Recommended CEX - Centralized Exchange
>
>‣ Binance
clown

[Biznessman No.24329157]

>>24328919
ok nigger tell me a better exchange than binance i will wait faggot

[Anonymous No.24329681]

>>24329157
crypto.com, coinbase
if americans can't use your exchange its literally fucking worthless because chinks just pump and dump and never hold

[Biznessman No.24331187]

>>24329681
>what is binance.us
not their fault if you have retarded laws and need special treatment

>coinbase
>tells me to lurk more
kek

[Anonymous No.24331302]

>>24328821
You forgot the kneepad advice.

[Anonymous No.24332125]

>>24331187
>binance US has less pairs than cuckbase if you slice copypasted stable coins pairs out and has 0.05% of cuckbase volume
ok newfag
>>24331302
first good advice in this thread, don't forget to buy some rope

[Anonymous No.24332660]

>>24328821
What would you say is the minimun I should invest on my first btc purchase? Don't have a stable income so I will be investing all of my savings on it, which sadly is not much.

[Anonymous No.24332864]

>>24332660
As much as you can lose, it's in the sticky

[Anonymous No.24333229]

I wanted to get into a DeFi but the transaction cost for an approval is ridiculous, what the fuck frens?

[Biznessman No.24333691]

>>24332660
How much is it fren? You might want to consider investing in yourself in order to get a job and a regular income before investing in bitcoin, buy some nice clothes, some good hygiene products and 1-2 book that will help expand your network and social capabilities, or buy a course that teaches you something you can build a real business on, get a regular income and accumulate BTC/ETH/LINK as your investment.

>>24333229
ETH 2.0 is coming and is supposed to fix this issue, you can set custom gas fees to balance transcation speed and cost yourself. If you are a poorfag and a newfag stay away from DeFi and shitcoins for now or you might see yourself investing in kneepads soon.

[Anonymous No.24333789]

>>24333229
>he doesn't know about gastoken
>he doesn't manually change gas price
>he probably did something wrong in the first place so gas fee is retarded

[Anonymous No.24333800]

>>24333691
>How much is it fren?
I was considering starting with $200, but I should have about $1000 in total.

And sadly I live in a shithole with a broken economy, there is no hope for businesses here and I doubt I can get a better job than my current one on the current state of things.

[Anonymous No.24333874]

>stick to LINK
>before thinking about buying shitcoins
??? how is link in the same tier as btc and eth

[Anonymous No.24333889]

>>24329681
lmaooo jewbase and crypto.com. kys. binance is by far the best exchange, and it does way more than that. and yes, americans can use it, although not officially. speaking from experience.

[Anonymous No.24333983]

>>24333889
by your logic bitmex is the best exchange

[Anonymous No.24334072]

>>24333983
by your logic investing into half of the cryptosphere is worthless because faggot american laws bar you from doing anything.

if your only reason is that "chinks pump and dump instead of holding", which is a MEME and not investment advice, then you are a retard. I've used binance a lot for three years since 2017. There has never, ever, been any kind of fraud or reason to doubt its safety. It's exchance token is top 10 in marketcap next to the crypto standards. how delusional are you?

[Anonymous No.24334183]

>>24334072
>investing into half of the cryptosphere is worthless
90% for me, cause those are shitcoins
>"chinks pump and dump instead of holding", which is a MEME
do you want me to tell how I know you're a fucking newfag?
>I've used binance a lot for three years since 2017. There has never, ever, been any kind of fraud or reason to doubt its safety.
80% of the volume is literally wash trading lmao, you retarded faggot

[Anonymous No.24334395]

>Stick to the basic coins (BTC, ETH, LINK)
>LINK
Getting desperate much? Lets get some schwabpills in here

[Anonymous No.24334433]

Your future on "CHAIN" link

[Anonymous No.24334457]

Welcome to Schwab World

[Anonymous No.24334471]

>>24334433
what's the problem amerishit?

[Anonymous No.24334491]

4th Industrial Resolution

[Anonymous No.24334531]

>>24334471
The problem is your are pushing the Schwab token again old friend.

[Anonymous No.24334529]

ATTENTION ALL NEW FAGS
ONLY BUY TETHER
ALL OTHER COINS ATM ARE A SCAM.

[Anonymous No.24334561]

[Anonymous No.24334594]

Is putting $100 every week into BTC a good idea?

[Biznessman No.24334606]

>>24333800
Think about it, if you have your $1000 invested in Bitcoin what do you expect to get? Does having a 2x from your investment in a few years really change anything in your life? How much of your monthly income can you set aside? It's great that you at least have a job though.

>I live in a shithole with a broken economy
you have access to the internet though, build your business online (on the side while working your job) and it won't matter too much where you are from, but you will need some skill or product to sell in the first place which is where your investment could be much better placed, set some goals, it's not going to magically catapult you out of your shithole but with consistency you will have a great internet business and once you are far enough you can turn it into a passive income stream, invest excess money and get the whole snowball rolling so you don't have to work forever.

>>24333874
do some research LINK is very much needed to keep the crypto space going, it's not quite the same tier as BTC and ETH but it's impossible to just ignore, that said it should make up the least % of your stacks, something like 40% BTC 40% ETH and 20% LINK at most

>>24334395
>>24334433
>>24334457
>>24334491
>>24334531
>>24334561
take your meds schizo

[Anonymous No.24334668]

>>24334594
Yes.

[Biznessman No.24334737]

>>24334594
Not bad, you might want to consider diversifying a bit though if you aren't already investing in other things

[Anonymous No.24334748]

>>24334606
>Think about it, if you have your $1000 invested in Bitcoin what do you expect to get? Does having a 2x from your investment in a few years really change anything in your life?
It might be the difference of becoming a houseowner or not.

>>24334606
>need some skill or product to sell in the first place which is where your investment could be much better placed
What could I possibly sell to foreigners such as you? Selling to people here is noy an option right now.

[Biznessman No.24334814]

>>24334748
Where do you live?

>selling to people is not a option right now
that's why I said sell online you chicken mc nigger

[Anonymous No.24334965]

>>24334814
>Where do you live?
Brazil

>>24334814
>that's why I said sell online you chicken mc nigger
Yeah, but what could I possibly sell that foreigners would be willing to buy? Not like they can't get whatever I can sell elsewhere cheaper...

[Anonymous No.24334986]

yo, why not expand beyond crypto and do a full /biz/ starter (personal finance, investing, starting a business,etc.)?

[Anonymous No.24335213]

>>24334986
In my country that is unlikely to suceed.

[Biznessman No.24335505]

>>24334965
>what could i possibly sell
almost anything, your experience/knowledge, you could work remotely as a coder/designer or whatever, find a way to provide value to other people with things you are good at, i don't know you so i can't give you tailored advice

>not like they can't get it cheaper elsewhere
price isn't everything, i do graphic design and compete with milions of third worlders by just not competing in their market and targeting a specific group of people with high quality service and i used to get rid of my competition through unethical ways too back when i started and now im the biggest fish in my space and i don't even have to care about others because i know they can't compete with my consistency and quality.

>my country is a shithole
good. online you can charge the same prices as an american but 1$ is worth more in a shithole than in america. it all boils down to LEARN A VALUABLE SKILL AND MONETIZE IT, it literally doesn't matter where you are from, the only thing that matter is your attitude and you are either someone who works and achieves or a defeatist loser who complains about things he can't change

>>24334986
good idea, will do in the next thread, /biz/ lacks some real business discussion anyway

[Anonymous No.24335589]

>>24335505
Will try and think about what i can monetize, thanks for the help.

[Anonymous No.24335722]

Is kraken a meme?

[Biznessman No.24336407]

>>24335722
depends on what you are looking for as an investor/trader? it's definitely one of the better exchanges