A big advice on how to invest with BTC

mOgliE

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Quote from: Hexah on December 23, 2018, 12:25:19 AM

A big advice too, if you want to play on crypto sphere better to get a whole bitcoin first then play it on the market, hodl is an old school.

Hold is an old school?

Now there is a reasonnable chance that bitcoin will reach its previous prices of above 15k at a moment or another especially around the next halving.
It means that just going in now, buying a whole BTC and waiting will grant about 11k$ of profit with rather low risk.

While playing it on a market is so fucking risky... Like a hell of a risk. You can hardly be more risky than by playing on a market, even dice is safer.

Indrawan77

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I think its a good idea but it's not my strategy, when I saw a good chance then I will put most of my investment into that things, sometimes good opportunity only come once and we need to seize it immediately, sometimes playing safe won't make you rich, you need to take a risk to get a higher reward

Soots

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Quote from: Hexah on December 23, 2018, 12:25:19 AM

A big advice too, if you want to play on crypto sphere better to get a whole bitcoin first then play it on the market, hodl is an old school.

To invest in Bitcoin is to start with yourself first, invest knowledge, improve skills and experience, explore more. Investment takes preparation, bravery, focus, and commitment. Learn a variety of investing strategies, most importantly, trust yourself, never be afraid to make mistakes, learn from them and move on.

KorakPawon

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Quote from: mOgliE on December 15, 2018, 01:16:37 PM

Hello world.

So I've a small advice for everyone a bit new around here... Get a storage wallet.
Not mandatory a hardware wallet of course but get a wallet that you won't use daily, somewhere where your coins are safe and not too easily accessible.

Because otherwise with the amount of opportunities and tentations you're going to go all in in too much opportunities, one is doomed to fail and you'll lose it all.
I'm giving this advice because since I've got a hardware wallet I've finally managed to split my profits from investments between reinvesting and storing.

Before that I ended mainly losing my profits because I reinvested everything all the time...

So get a storage wallet, and split your profits.

It seems to be like a piggy bank, isn't it? That's good idea actually. We need to make our own chance to have lots of profits. When we make our way, I think it would succeed. Keep learning the situation and looking for more chance to survive in this uncertain situation.

boty

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My advice before you make an investment or buy a coin, you should be able to determine the right time to buy coins and determine what percentage will take advantage because a lot of new traders lose because they enter and buy bitcoin at the wrong time.

Cherylstar86

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Quote from: Hexah on December 23, 2018, 12:25:19 AM

A big advice too, if you want to play on crypto sphere better to get a whole bitcoin first then play it on the market, hodl is an old school.

It's important that we accept the reality that investment carries a certain level of risks and losses. We cannot eliminate investment risk, so it's better to take time to study and familiarize its nature, explore and learn investment ideas. Be strategic, it is critical therefore that we develop the necessary knowledge to execute effective approach. Furthermore, learn to diversify investment, so if one falls, other investment may help you to recover. Nothing comes easy, it takes time, effort, determination, persistency, positivity, patience, and by not losing hope that can help us survive from adversities towards success.

Hexah

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A big advice too, if you want to play on crypto sphere better to get a whole bitcoin first then play it on the market, hodl is an old school.

Pumapipa

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Coming from a frequent bounty hunter, what I usually do before joining any campaigns is that I register a new wallet for every campaign that I join. For example, campaign A has a different wallet storage as compared to Campaign B with another wallet. This prevents potential cyber threats from getting all my hard earned coins. You really cannot assure the level of cybersecurity nowadays, all that we can do is to prevent hacks from happening.
PS I have given up investing in BTC because market is not good this year. maybe I will try to invest next year and will follow the strategy that you have posted here. Thanks bro. Looking forward to a greener year 2019.

Lazada

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Quote from: liuqi on December 22, 2018, 09:03:12 AM

Too many times all the peoples are suggesting some ideas and procedures. But it is hard to understand so we should take risk in Bitcoin investment, we will get good result. So most of the experts are try it our own at the same time many beginners are start a small scale trading. It is prove the proper way, some beginners are expect more profit in short time it is not a right way in any crypto currency.

As a beginner, practicing investing is a top choice. Practice abilities by trying out various things that exist so that we will be trained in making the best decisions. With more experience, we will get the ability to analyze, the best analysis in choosing each coin is the result. This is an initial investment and we must be able to do our best to get the best results.

coinplus

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Back in 2013 I had a friend who preferred to keep his coins on paper wallets. His idea was that if he wanted to ever cash out his coins it would take him so much time to cash out all of them. He had about 100 bitcoins (wow looking back he was quite rich but at the time it worth couple thousand at most) and he divided them all into 1 bitcoin each for 100 paper wallets all together.

I don't know what happened to him because we didn't kept in touch but at the time that was the best idea I heard because if the price skyrockets one day he would eventually want to cash out but if the price kept going up he would have regret selling lower. So for anyone out there if you want to actually get bitcoins and put them aside as retirement money or definitely not want to cash out no matter what until emergency situation, just divide it into 100 and put them on paper wallets.

liuqi

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LuckyB.it is Back!

Too many times all the peoples are suggesting some ideas and procedures. But it is hard to understand so we should take risk in Bitcoin investment, we will get good result. So most of the experts are try it our own at the same time many beginners are start a small scale trading. It is prove the proper way, some beginners are expect more profit in short time it is not a right way in any crypto currency.

talkbitcoin

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All I know is that I know nothing.

although this is a very good suggestion but your title doesn't make sense because it is not about "how to invest" but you are talking about what to do AFTER they've invested.

and i have to add that it is always best to test things before getting in big time. you can simply buy a small amount and send it back and forth between your wallet and exchange to see how things work.
additionally there is test net which can be used to create a wallet get some free 0-value coins and learn how wallets work.

hatshepsut93

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This should be a common sense to not store all coins in one place as people usually don't go for groceries with all their life savings in their wallet. However, it's not enough to just have multiple wallets, you need to have strong discipline to not lose your investments to scams, poor investments and spontaneous spending. There's no difference between crypto and fiat here, so if you already have bad habits when dealing with money, you'll likely to keep them when dealing with crypto too. Bad money management is one of the reasons why some people are broke - no matter how much they earn, they spend way too much.

Slow death

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Quote from: mOgliE on December 15, 2018, 01:16:37 PM

Hello world.

with that phrase it seems like you are writing some computer program. I divide my bitcoins by several wallets and several payment processors and I keep the reserve money in my bank account in my country, unfortunately in this world you never know when a company would be can become dishonest or it may disappear overnight to cause of some hard regulation or something wrong that the owner of the wallet has done. for this reason we have to use many options simultaneously

sorrysteve1

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Quote from: mOgliE on December 15, 2018, 01:16:37 PM

Hello world.

So I've a small advice for everyone a bit new around here... Get a storage wallet.
Not mandatory a hardware wallet of course but get a wallet that you won't use daily, somewhere where your coins are safe and not too easily accessible.

Because otherwise with the amount of opportunities and tentations you're going to go all in in too much opportunities, one is doomed to fail and you'll lose it all.
I'm giving this advice because since I've got a hardware wallet I've finally managed to split my profits from investments between reinvesting and storing.

Before that I ended mainly losing my profits because I reinvested everything all the time...

So get a storage wallet, and split your profits.

They're not only the best option for preserving your coins due to safety, they also protect you from yourself and your own intentions, for the most part people get too involved emotionally and make irresponsible decisions. That might lead to selling coins at far too low of a price due to fear or other emotions.

Kevin77

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I always defended the fact that bitcoin is not a "all in one" investment. You can definitely dream of getting rich in one day but the problem of people that invested last year was they invested all together at once and they have lost a lot of money. Even if they invest once a month for the past 1 year they would still lose a lot of money which means they needed to make it even longer.

That is why the only people who have made money during these months were the people who have collected bitcoin as much as they can for years in the past and sold their money last year during the peak and now recollecting the money for cheaper, they had some amount of bitcoin that they sold for fiat and now they are getting more coins for the same amount. That is the proper way of investing into bitcoin, slowly and securely.

Lucius

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It's never wise to keep all coins in one wallet/device, and not only because of problem with the impossibility of control how and when you spend coins, but also because of security reasons. For gamblers your advice is very good, but access to that stored coins should be somehow complicated - otherwise it does not make much sense where coins are stored.

Hardware wallets have proved so far as a very safe way of storing coins, but it is very easy to access these funds even if you store your HW in safe. Anyway, it's better to have some way to be protected from stupid moves, and by that you also improve your security.

Quote from: davis196 on December 21, 2018, 01:49:52 AM

Unfortunately I can't buy a hardware wallet in my country.I don't have enough fiat money to buy such hardware+pay for shipping and I don't want to spend my bitcoins for a wallet.
I get your point here.Having a storage wallet will kinda force you to HODL your coins for the long term and not being a victim of your greed and desire for fast profits.

Hardware wallets can be paid in cryptocurrency, you do not need to have fiat for that. Ledger is having 30% discount by the end of this month and free shipping - but if you do not want to spend yours BTC for HW, it is a completely different story.

joshv06

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Quote from: Kemarit on December 21, 2018, 05:51:02 AM

I agree with what @m0gliE ha said, as a gambler having a web wallet is too tempting to go online and go gambling again and again. Having a hardware wallet will take away that feeling that it's easy to just play online because funds are readily available with just a simple click. So it's really better if you can start early to invest in a hardware wallet, if I knew back then the advantage of having one, I would immediately jump and purchase it years ago. Yes, having self discipline is good, but how many of us easily don't have the mentality to fight our gambling habits?

Yes it is good advice and helps lot of people in the crypto world but the person who do trading has to be know and keep tracking of coins or transactions will help them in missing. But keeping the details on Hardware wallet is safe and good option and also we can keep it on some old computers which is in basement for our reference.

Kemarit

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I agree with what @m0gliE ha said, as a gambler having a web wallet is too tempting to go online and go gambling again and again. Having a hardware wallet will take away that feeling that it's easy to just play online because funds are readily available with just a simple click. So it's really better if you can start early to invest in a hardware wallet, if I knew back then the advantage of having one, I would immediately jump and purchase it years ago. Yes, having self discipline is good, but how many of us easily don't have the mentality to fight our gambling habits?

mOgliE

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Quote from: mikeywith on December 15, 2018, 08:19:26 PM

Thanks for the advice,it sure does work for some people, however i think what is more important is self-discipline. someone with an ichy hand to trade or spend will not find a problem walking 10 miles to his paper-wallet that is buried in their grandmother's back yard.

That's probably true of course, but self-discipline can't ever be perfect at 100%. You will have moments where you're tired, or excited, or had a bad day and want to try something, or had a good day and feel lucky xD
When it happens I know that I've always made poor decisions, initiating leverage trades without stop-loss or even poker or gambling. Gave out stupid loans (back in the day I lost 3.5BTC because of a stupid loan scam...) or shit like this.

Now that I have a hardware wallet, locked into a safe, when I'm having such a day I no longer spend this money. If I really want to go gambling well it's fine but I use the liquid funds I have on my web wallet and I lose 20$ instead of 2000$.

I feel like the physical action of having to get up, enter the code of the safe, open the safe, take the hardware wallet out, come back at the computer, link wallet to computer, wait the update and app to open, enter the code... All of this steps are good gap giving me the time to come back to reason and tell myself "yeah no what the hell, this is stupid, the wallet is off limit and you know it".

it works pretty well for me at least

davis196

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Unfortunately I can't buy a hardware wallet in my country.I don't have enough fiat money to buy such hardware+pay for shipping and I don't want to spend my bitcoins for a wallet.
I get your point here.Having a storage wallet will kinda force you to HODL your coins for the long term and not being a victim of your greed and desire for fast profits.

creeps

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Choosing great place to put your money is really a must because your money is important and it should be in the right place. We must follow the rule of diversification because investing in just one coin is too risky.

This is a great a advice to look for a better storage, because newbies failed on this one as they also focus on how to make profit easily. This market is consist of a lot of scammers, and greedy people and if you don’t take action to protect your own belongings, for sure you will lose it later on.

drachman

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Quote from: mOgliE on December 15, 2018, 01:16:37 PM

Hello world.

So I've a small advice for everyone a bit new around here... Get a storage wallet.
Not mandatory a hardware wallet of course but get a wallet that you won't use daily, somewhere where your coins are safe and not too easily accessible.

Because otherwise with the amount of opportunities and tentations you're going to go all in in too much opportunities, one is doomed to fail and you'll lose it all.
I'm giving this advice because since I've got a hardware wallet I've finally managed to split my profits from investments between reinvesting and storing.

Before that I ended mainly losing my profits because I reinvested everything all the time...

So get a storage wallet, and split your profits.

This should be done by everyone, some people are too cheap and think they do not need to invest in a hardware wallet but if you had millions of dollars will you have your money laying around everywhere or will you buy a safe? The same principle is at play here, it is better to buy a hardware wallet where most of your money is safely stored and only carry with you the money that you could use during the day.

WinslowIII

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The best way to invest in bitcoin is to go back to 2016 or earlier. Other than that, rots of fuckin' ruck.

adaseb

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A good option would be something like Electrum used as cold storage.

Basically all you need is a second computer which is never online, so an old laptop would work and you would have a watching only wallet on your main computer.

This is pretty much almost always available since you can download the software at any time and most people have spare computers laying around in their basements.

mikeywith

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be constructive or S.T.F.U

Quote from: mOgliE on December 15, 2018, 01:16:37 PM

Hello world.

So I've a small advice for everyone a bit new around here... Get a storage wallet.
Not mandatory a hardware wallet of course but get a wallet that you won't use daily, somewhere where your coins are safe and not too easily accessible.

Because otherwise with the amount of opportunities and tentations you're going to go all in in too much opportunities, one is doomed to fail and you'll lose it all.
I'm giving this advice because since I've got a hardware wallet I've finally managed to split my profits from investments between reinvesting and storing.

Before that I ended mainly losing my profits because I reinvested everything all the time...

So get a storage wallet, and split your profits.

Thanks for the advice,it sure does work for some people, however i think what is more important is self-discipline. someone with an ichy hand to trade or spend will not find a problem walking 10 miles to his paper-wallet that is buried in their grandmother's back yard.

one needs to make a straight forward plan and stick to it. for example a distribution of his earning and total hodling.

- a % of everything be it new earned coins from mining/trading/buying must be kept in a cold storage wallet and never touched until x point of time
- a % to cash out regardless of market condition , also out of this part it should be distributed , maybe in Gold,stock,JPY,AUD (just to hedge against your hodlings)
- a % to risk at either day trading/mining.

i started to follow a plan like this recently and my overall situation looks much better, i was so stupid to re-invest everything i get into mining hardware thinking it was the best option, bought some miners when btc was trading at 10-12k, which some have yet to ROI and now they are selling for almost 70-90% cheaper. i should have cashed out a good portion,i would have more btc and more miners by now. but ya nobody learns for free, we have to pay for every lesson.

o_e_l_e_o

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The denarium coin idea is interesting. It's almost like the problem gamblers who give their credit cards to a friend so they aren't tempted to spend above their limit. You could easily achieve the same thing with a hardware wallet or paper wallet though - if you secure it somewhere that takes some time for you to access, like in a safety deposit box or with a trusted friend or family member, you won't be tempted to spend/trade your coins in the "heat of the moment". And as long as you know the public address, you can continue to filter off some of your profits to that address for safe keeping.

Bitcoinwaist

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good advice, almost like out of sight out of mind Wink

another good way to make sure you hodl and not panic sell is to buy an empty denarium coin and load your coins to that. so if you really want to spend your btc you have to peel the hologram its a deterrent that has worked for me. Cheesy

Quote from: mOgliE on December 15, 2018, 01:16:37 PM

Hello world.

So I've a small advice for everyone a bit new around here... Get a storage wallet.
Not mandatory a hardware wallet of course but get a wallet that you won't use daily, somewhere where your coins are safe and not too easily accessible.

Because otherwise with the amount of opportunities and tentations you're going to go all in in too much opportunities, one is doomed to fail and you'll lose it all.
I'm giving this advice because since I've got a hardware wallet I've finally managed to split my profits from investments between reinvesting and storing.

Before that I ended mainly losing my profits because I reinvested everything all the time...

So get a storage wallet, and split your profits.

mOgliE

legendary

Activity: 1344

Merit: 1251

Hello world.

So I've a small advice for everyone a bit new around here... Get a storage wallet.
Not mandatory a hardware wallet of course but get a wallet that you won't use daily, somewhere where your coins are safe and not too easily accessible.

Because otherwise with the amount of opportunities and tentations you're going to go all in in too much opportunities, one is doomed to fail and you'll lose it all.
I'm giving this advice because since I've got a hardware wallet I've finally managed to split my profits from investments between reinvesting and storing.

Before that I ended mainly losing my profits because I reinvested everything all the time...

So get a storage wallet, and split your profits.

Topic: A big advice on how to invest with BTC (Read 485 times)