Before investing in bitcoin, What should I think about? - page 2.

kryptqnick

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Quote from: fuco0921 on April 08, 2020, 03:51:40 AM

Bitcoin investment makes me think a lot.
Of course, it takes a lot of thought to invest in things like Altcoin, Stock, fund, not just Bitcoin.

I have to think of 5 questions before investing in something. And answer it.

1. Which Purpose Are You Pursuing?
2. How Much Can You Realistically Set Aside for Investing?
3. When Will You Need This Money Again?
4. How Much Should Risk?
5. What Should You Invest In?

What should I think more than this?
What thoughts did you go through before investing in Bitcoin?

▶ Source : How to Build an Investment Plan That Works for You / the balance

This is not a bad set of questions. The purpose is a very important one that people tend to forget. Some people just buy BTC and HODL it indefinitely because they haven't decided how much profit is enough for them. Historically, such investors in general end up not benefiting from their investments ever. Savings and investments are there for something. I am not sure about question #3, though, because the way I see it if a person will need that money at some point, this person should not invest it. Also 2 and 5 would kind of be the same thing to me.

Slow death

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I removed the other points because I want to talk about that point:

Quote from: fuco0921 on April 08, 2020, 03:51:40 AM

3. When Will You Need This Money Again?

I consider this point as the most important, you must have heard the word "hold" and the following phrase: "do not sell your coins, hold". is there something i have been asking myself whenever i hear this, when people buy bitcoin, do they know when is the right time to sell? or are we facing a situation where people who have bought a lot of bitcoins and want to become very rich encourage other people not to sell bitcoin because they want the price to be too high for when they sell to become very rich? do you know when it is time to sell your bitcoins? does anyone in this thread know when it's time to sell their bitcoins?

Quote from: BIT-BENDER on April 08, 2020, 09:40:54 AM

+ Knowing more about Bitcoin and this goes further than just an investment property.

In fact, this is a very important part, if 90% of people did this before investing in altcoins and researching what the purpose of the currency would probably not fall into many scams

BIT-BENDER

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You can add to your list
+ Knowing more about Bitcoin and this goes further than just an investment property.
+ Can you stand the hit: Bitcoin investment can prove to be patient testing some times the price might be going down which to Bitcoin lovers a time to buy more.

+ Where do you see Bitcoin reaching in future and it's future use

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I think one way have to do before investing with bitcoin or altcoin, try to invest when bitcoin and altcoin have been in support or lower price, although you as beginner and have got bitcoin really down you can buy and invest, but never allow with some one recommendation after bitcoin break limit to higher price to invest with bitcoin and altcoin.

buwaytress

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Perhaps the question really to ask is, "before using Bitcoin".

Now I get that most people are investing and holding, looking to cash out at some magic number, heck even I would liquidate a lot of my Bitcoin if I'm still alive when my magic number arrives. But the thing is, you're really doing something with that investment if you also use it.

Plus, if you're investing because of inheritance, then using it helps keep it strong and viable for whomever inherits your Bitcoin.

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Quote from: fuco0921 on April 08, 2020, 03:51:40 AM

5. What Should You Invest In?[/b]

Shall this question need to be asked? I thought you are asking questions before investing in Bitcoin?

Quote

What thoughts did you go through before investing in Bitcoin?

There was not much thought to be honest. Everything was pretty quick. Not much questions asked either. I started investing in Bitcoin when the thing was riding on so much hype. It was the time when even shitcoins were selling like hotcakes. The problem was only about money. I didn't have much. I had to settle with a little investment.

seoincorporation

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Quote from: fuco0921 on April 08, 2020, 03:51:40 AM

Bitcoin investment makes me think a lot.
Of course, it takes a lot of thought to invest in things like Altcoin, Stock, fund, not just Bitcoin.

I have to think of 5 questions before investing in something. And answer it.

1. Which Purpose Are You Pursuing?
2. How Much Can You Realistically Set Aside for Investing?
3. When Will You Need This Money Again?
4. How Much Should Risk?
5. What Should You Invest In?

What should I think more than this?
What thoughts did you go through before investing in Bitcoin?

▶ Source : How to Build an Investment Plan That Works for You / the balance

1. The propose is to get an income online
2. Close to 50% goes for investing
3. When it reaches the value I'm chasing
4. Risk all is the way to win big, but that way you can lose it all
5. In coins with future like ETH, XMR...

bgaf

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These list are common and typical question prior to invesment into bitcoin but to tell you. The answers on these are depend on the person status, ability, and dependability. Of course a guy without bigger salary or income couldnt possibly invest on it without any worries. Why, he has some expenditure and expenses to think about. But a wise person, always expand his mind to wide range of possibilities. I know some, who dont have huge investment budget but were able to earn or have a good profits on bitcoin. But then again, it goes back to the answer how you as a person will handle such questions.

Youghoor

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Well, I think one of the key factors to consider before venturing into any investment plan and especially cryptocurrencies is how long can you watch the money grow without touching the digital asset purchased. The reason why I am saying this is because the crypto market is a volatile one and it can take a long time before the market rises after a crash so if your principal is a borrowed money i would say avoid it. Or if you can't afford to lose it then please don't try either.

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Quote from: fuco0921 on April 08, 2020, 03:51:40 AM

Bitcoin investment makes me think a lot.
Of course, it takes a lot of thought to invest in things like Altcoin, Stock, fund, not just Bitcoin.

I have to think of 5 questions before investing in something. And answer it.

1. Which Purpose Are You Pursuing?
2. How Much Can You Realistically Set Aside for Investing?
3. When Will You Need This Money Again?
4. How Much Should Risk?
5. What Should You Invest In?

What should I think more than this?
What thoughts did you go through before investing in Bitcoin?

▶ Source : How to Build an Investment Plan That Works for You / the balance

1. First of all, of course, increase your wealth.
2. Here everyone decides for himself. For the first time, do not invest too much.
3. If this money is likely to be needed in the near future, then bitcoin is hardly suitable for you. This asset may be delayed for a long time.
4. Everyone must decide for himself, everyone has different opportunities.
5. Depends on time and period, at different times, different coins are more interesting to investors.

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1. Today many people are trying to invest with the use of bitcoin because they know the market volatile can bring them a lot of market income and profit but still take care of this because we cannot predict the market movement. Also, join the world of bitcoin by this and also to use the bitcoin for payment because it is faster, secure and also less transaction fee.
2. I invest what I have because you cannot push yourself to have a lot of investment that you can't afford don't risk everything.
3. If you think you got a lot of profit you can now pull it out, atleast you earn your income. But you think it is enough going ahead but the market again is volatile it is quite a risk.
4. Again it depends on what you can afford because the investment is risky.
5. If you want to make a long term investment go with the bitcoin but if you are a short term investor you can go for bitcoin but I prefer the altcoins.

Solosanz

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Hi, in my opinion
1. I want to get extra money from investing
2. Usually I invest 20% of my salary
3. I need when 1-2 years forward
4. I don't need my money when I invest, because I invest what I will lose all of my money
5. Bitcoin, since I believe in bitcoin

fuco0921

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Bitcoin investment makes me think a lot.
Of course, it takes a lot of thought to invest in things like Altcoin, Stock, fund, not just Bitcoin.

I have to think of 5 questions before investing in something. And answer it.

1. Which Purpose Are You Pursuing?
2. How Much Can You Realistically Set Aside for Investing?
3. When Will You Need This Money Again?
4. How Much Should Risk?
5. What Should You Invest In?

What should I think more than this?
What thoughts did you go through before investing in Bitcoin?

▶ Source : How to Build an Investment Plan That Works for You

Topic: Before investing in bitcoin, What should I think about? - page 2. (Read 804 times)