Can a newbie make investment before learning? - page 3.

Yaunfitda

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Quote from: Plan well on May 08, 2024, 07:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Hmm, from the title itself? like investing on Bitcoin, you can do that in the beginning with little amount and buy to let's say in a exchange. And then try to study and learn it later and see how it goes for you. I mean like buy worth of $50 as your entry level and watch the market and at the same time educating from it. And obviously, the best community is where you are right now. You can either ask questions or just go search as there are a large of knowledge base here in this forum. The problem though with some beginners is that they didn't do the research first, as their questions might have been answered a thousand times already.

Catenaccio

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Doing research, better due diligent research, before investing. Researching is more serious than learning.

You can do research for learning fundamentals which are enough for your investment. Where to buy bitcoins, where and how to store your bitcoins, needs to make a wallet backups. It is enough for your investment.

More, learn about market cycles, history, and find good strategy like Dollar Cost Averaging.

https://dcabtc.com/
How to backup a seed phrase?

avp2306

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Quote from: Plan well on May 08, 2024, 07:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Yes you can if you can afford to do it since actual learning from your experiences is more good to you since you can learn a lot of lessons from those investment activities you made. But make sure you do proper precaution on everything you do so that you will not learn from expensive mistakes but can able to earn from what you do. To achieve this status you should always do a research on each decisions you do since this could help you to verify if the investment you are looking for is really good and not those blatant scam.

But in your case for sure you already know about those scam and that is good since it seems you are good on research so be resourceful since this is important as investor to avoid committing mistakes.

armanda90

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Actually investing required with knowledge but when getting experienced teach us more than knowledge, I don't think problem for the beginner or newbie make investment in cryptocurrency before learning more and during make investment will get more experienced has higher intention from knowledge. But make investing with cryptocurrency assets have good fundamental such as bitcoin, Ethereum and BNB coin during investment of three potential coins above still not reach most higher price.

After investing the beginner will get more lesson and knowledge about cryptocurrency, I doubt too much learning and having knowledge make us doubt and scare for investing behind some potential coins have reach most higher price and loss opportunity with lower price to buy back before raising to more higher price.

Bd officer

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Cashback 15%

Quote from: Plan well on May 08, 2024, 07:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Investing in Bitcoin is not very difficult, you don't need to acquire a lot of knowledge. Many have given good advice here, which you can follow. You can invest in Bitcoin with basic knowledge about Bitcoin. You can invest if you have knowledge of below mentioned basics.
* How to buy Bitcoin.
* Where to buy bitcoins from.
* How to transfer bitcoins from exchanges to secure wallets like Electrum.
* Gain knowledge about different wallets, but you can use Electrum wallet to hold bitcoins.

As a newbie don't invest big amount first, invest small amount first. But if you invest in Bitcoin, you must hold for a long time, you will not rush to make a profit. Everyone can invest but not everyone can hold for long.

arjunmujay

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Eloncoin.org - Mars, here we come!

Quote from: Plan well on May 08, 2024, 07:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

At the very least, you must choose an exchange that has been regulated by the local government. Apart from guaranteed security, you will not feel anxious if the exchange takes away the money you invested. and my advice is still to choose bitcoin, not altcoin even though you can get more profit in a short time.
as long as it lasts, you continue to learn about investing in the crypto world and learn a lot about it. What's more, you are already in this extraordinary forum. You can learn anything about crypto without having to pay money to study in a class.

Ruttoshi

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Baba God Noni

Investing in bitcoin is very easy and all you need to get started is the basic knowledge of bitcoin. Since you are a long-term hodler, you can get started and learn along side which is investing and learning. As a newbie investor, one of the basic knowledge is to invest with an amount that you can afford to lose and also let it be a long term goal.

The next thing is for you to use a create a self custody wallet and after that, you buy your bitcoin from an exchange and transfer it to your self custody wallet where you have already backed up your seed phrase. Investing in bitcoin and hodli is more of practical than theory because you need to have the experience as a hodler based on the price fluctuation.

The other knowledge on bitcoin can be learnt as you are hodling and investing. We should know that bitcoin is complex and whoever wants to have a major knowledge before investing will end up not investing early, and will not be able to buy bitcoin when the price is low. The only thing that investor needs to understand is how much of his income can he use to DCA regularly to increase his portfolio as he continue learning.

There are some aspect in bitcoin that experience is the best way to learn and investing is one of it.

Cosette

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DAMN SON!

If you buy a book or a course that make you learn about something that you want to invest, then its considered as investment before learning.

lovesmayfamilis

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✿♥‿♥✿

To be an investor in Bitcoin, you do not need to know higher mathematics. Learn to use a wallet. The Electrum wallet is very convenient for beginners. There are many tutorials on the forum. Learn to save your seed phrase. Use a clean system for transactions. Do not copy and paste when you are about to make a transaction, and carefully check the addresses of the wallets to which you are sending funds. The less often you check Bitcoin prices and make DCA more often, your investment will become meaningful in quantity. Are there any difficulties here? These are the first steps of practice that should go in parallel with theory. Next, of course, you need to ensure better security for your investments, but at the initial stage, it is very convenient to practice.

albon

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Investing requires dedicating enough time and effort to learn, gain experience, and become familiar with the basics and terminology circulating in this field; learn about wallet security, types of wallets, how to use them, and the various scams used by scammers to drain the wallets of their victims. I can liken it to driving a car; if the driver lacks experience and sufficient knowledge about driving and the car's components, he will inevitably collide and may face a traffic accident that could endanger his life.

Most of what falls into the hands of scammers are beginners who do not give themselves enough time to do research, follow market developments, acquire knowledge, and read articles, educational materials, forum topics, books, and other reliable sources of information. The category of inexperienced investors is easily targeted by villains, and they are among the reasons for the continuation and success of their malicious schemes. Also, investment contains risks so that these risks can be identified and managed, the appropriate capital can be determined, and a strategy can be developed.

Amphenomenon

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Play Bitcoin PVP Prediction Game

FOMO is the main reason crypto newbies fail to learn firstly before investment while they might be lucky if they maybe lucky investing in bitcoin before learning this can't be said about altcoins which needs more research in order to avoid scam coins or coins with little or no value, though investing in bitcoin without proper knowledge about how to securely store your coin is the worst mistakes for bitcoin newbies.

Quote from: Cryptomultiplier on May 08, 2024, 07:51:48 PM

You clearly are a very newbie indeed for coming up with such a post that sounds rhetoric or should I say you just need the attention.
Why should someone without a proper investment knowledge, invest their hard earned money and hope to make profit, before they then learn about what they have invested in and hope to invest more, make more profit and become a professional all of a sudden?
It makes no absolute sense, infact how does the learner acquire the investment and keep it safe before they learn how to?

Actually this post is good there are alot of bitcoiners and others into crypto currency that didn't have knowledge before investment, I actually have a friend who is Dad was persuaded to invest in an altcoin that has little or no value, seems like it was a stable coin or something close to it and this was over 10 years ago, he was advised to HODL for about 5 years from which the price did dropped more.

Another proof while this is important is from the fact that before many of us joined this forum we were already into the crypto space but not knowledgeable about the right wallets and ways to store our coins. Thank God for BTT just imagine what ignorant might have caused us without this forum

Darker45

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🙏🏼Padayon...🙏

Yes, a newbie can. As a matter of fact, there are so many newbies who prefer to invest first and learn later. I hope that's out of excitement or too much eagerness rather than laziness or carelessness. Either way, however, the risk with this approach is very high and you could end up exactly in the opposite situation of what you were hoping. Rather than profit, you'd have losses.

What's even more unfortunate is that there are some, or perhaps many, who have already made investments but didn't exert effort to do research or understand Bitcoin right after. They aren't newbies anymore in the sense that they've already made their investments many months or even years ago, but they remain lacking of the most basic Bitcoin knowledge.

Bravut

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It will be very naive of any person wether newbie or not to invest without prior knowledge about such investment. Leading comes before anything most especially in a financial market like Bitcoin. You will surely end up losing and keep losing because you know nothing. Remove the L from learning we have Earn, it just like you asking” Can one drive before learning how to drive”.

In every sense this isn’t worth a question to ask, everyone with a right sense of thoughts and judgement know and understand that the most important factor is knowledge it doesn’t need to be a newbie.

boyptc

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Plan well on May 08, 2024, 07:41:11 PM

Take your time learn and implement before you inter market or make any investment as a newbie

Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.

Cryptomultiplier

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Eloncoin.org - Mars, here we come!

Quote from: Plan well on May 08, 2024, 07:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

You clearly are a very newbie indeed for coming up with such a post that sounds rhetoric or should I say you just need the attention.
Why should someone without a proper investment knowledge, invest their hard earned money and hope to make profit, before they then learn about what they have invested in and hope to invest more, make more profit and become a professional all of a sudden?
It makes no absolute sense, infact how does the learner acquire the investment and keep it safe before they learn how to?

Its more like penny wise pound foolish and the best advice is to put your money where you know what can happen, in what you have a fairly sound knowledge of and can secure primarily and in what gives you the best advantage over your freedom and independence.

Abbatty

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From your thread it shows you are asking a question and you still went on to answer it, this is one mistake alot of newbies make and it clearly show you didn’t really read the forum rules and regulations before engaging it activities.

Back to your question, it never advisable to a new to begin investment without having proper knowledge about bitcoin. How can you even put you resources into something without making research about it. I will call that total carelessness. You to make research to know if it actually the appropriate time to invest.

Plan well

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As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Topic: Can a newbie make investment before learning? - page 3. (Read 389 times)