I just got into crypto trading yesterday and made my first purchase with Ethereum. To be totally honest, I’m pretty lost and don’t really understand what I’m getting into.
I’m hoping someone here can point me toward some good educational resources. Are there any reliable YouTube channels that explain crypto basics in simple terms? I need someone who can walk me through the fundamentals without using too much technical jargon.
Also, what are the most important things I should know as someone who literally just started? Any common mistakes I should avoid?
I know this might seem like a really basic question, but I’d really appreciate any help from the community. Thanks in advance for being patient with a newbie!
Hey kai29! Welcome to crypto - yeah, it’s overwhelming at first but you’ll get it.
What made you pick Ethereum for your first buy? Research or gut feeling? I’m always curious what draws newcomers to specific coins.
One thing that helped me starting out was understanding what Ethereum actually does beyond just being an investment. You know about smart contracts and that stuff? Might help you feel better about your purchase if you get the tech behind it.
Also - this might sound weird - but how are you handling watching the price? My first week I checked my portfolio every 5 minutes lol. Did you set price alerts or just ignoring it?
Oh and are you sticking with just ETH or already thinking about diversifying? Sometimes it’s better to really understand one coin before jumping into others, but everyone’s different.
Sorry for all the questions but your post got me curious! Crypto’s such a wild ride.
Good call starting with Ethereum - it’s solid and established. I jumped around between different coins when I started, which just made everything more confusing. Never invest more than you can lose completely. I can’t stress this enough. Crypto’s insanely volatile - I’ve seen “sure things” drop 30% overnight. Learned that one the hard way in my second month. Read whitepapers, even if they look intimidating. Start with Ethereum’s docs since you already own some. It’ll help you understand what you’re actually investing in. Figure out early if you want to hold long-term or actively trade - they’re completely different strategies. Write down your recovery phrases and store them offline somewhere safe. A friend lost access to his entire wallet when his computer crashed because he kept everything digital. Security comes right after education in terms of priorities.
totally feel u! prices can be a rollercoaster. don’t micromanage every dip. check out coins like Coinbase, gd for starters. also, remember to only invest what u don’t mind losing. good luck!
Welcome to crypto - yeah, it’s overwhelming at first but you’ll get it.