Topic: Before you buy your first bitcoin take note - page 2. (Read 411 times)
I see no reason why you should invest in bitcoin when you don't have basic knowledge about it, if you don't have any knowledge about bitcoin, I will advice you not to invest in it, and if you really want to invest, then you should go and learn about it, anybody that's a professional today started as a beginner. If you just hear people talking about bitcoin and you think you can just jump into it, don't be suprise you are going to jump out of it because you might endup losing all your money.
Knowing what you want to invest in, the disadvantages and disadvantages, and how to develop your investment plan is the basis for success. Therefore, without it, the possibility of loss is possible, but do not let fear discourage you too much. I know people who have heard about Bitcoin and have not invested in it since 2013, for nothing but their fear, while some of them bought Rolex watches and bought Boats for unnecessary reasons.
because indeed in the media we can read and hear how negative news is being spread. it gives the effect of doubt and fear to invest in Bitcoin, even though you have known it for a long time.some that I know, they are brave enough to follow to invest in Bitcoin. but they are not too strong to hold and make a strong investment planning.
when there is a small pump and make a small profit, immediately they panic and sell Bitcoins and hope to wait for the dump to come soon so they can buy more at a cheaper price.
Knowing what you want to invest in, the disadvantages and disadvantages, and how to develop your investment plan is the basis for success. Therefore, without it, the possibility of loss is possible, but do not let fear discourage you too much. I know people who have heard about Bitcoin and have not invested in it since 2013, for nothing but their fear, while some of them bought Rolex watches and bought Boats for unnecessary reasons.
Knowledge and understanding is of course a very important foundation when we want to do something new like when we want to invest in bitcoin because if we do it without having knowledge then there is no guarantee we will succeed in investing with bitcoin moreover basically bitcoin is a high risk asset even the security is vulnerable against hacking if we cannot protect the wallet in the right way, so far we often encounter many beginners who rush to buy bitcoin or other coins but in the end have to accept losses caused by their own negligence.
Generally beginners are constrained by many things about bitcoin including how to use it [buy, sell, send, receive and secure it] when they don't have much knowledge. Of course they have to know many things before investing, even before they buy bitcoin - IMO the best advice is to choose a secure wallet.Some other suggestions that are worthy of being a beginner's guide are as follows: Getting started with Bitcoin
Beginners should not buy bitcoin without knowing what bitcoin are, how they are used, know how the market for bitcoin works and so on. So yes, they have to learn.
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HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
This is the most common mistake by people who intent to buy their first bitcoin, they bought Bitcoin because they are being told by other people or they saw someone buying also without doing their own research, like without even knowing how Bitcoin works or what bitcoin really is.HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
Knowledge and understanding is of course a very important foundation when we want to do something new like when we want to invest in bitcoin because if we do it without having knowledge then there is no guarantee we will succeed in investing with bitcoin moreover basically bitcoin is a high risk asset even the security is vulnerable against hacking if we cannot protect the wallet in the right way, so far we often encounter many beginners who rush to buy bitcoin or other coins but in the end have to accept losses caused by their own negligence.
HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
That's true and part of this is investing what you can afford to lose, 9 out of 10 newbies I encountered who invested in Bitcoin, invested because of the promised profit, and the future price of Bitcoin, they did not consider that they can have their money locked for many months or even years.
Investing in Bitcoin is because you understand the concept and you are really using it as intended not just to HODL it, use it to buy stuff and pay for services, send gifts, and receive gifts through the use of Bitcoin.
Have you think or know about those people who venture into bitcoin when people were cashing out making all sort of noise all over the internet?
Yes, There were sometimes when people were serious buying bitcoin thinking it would get $100k so that they could become millionaire overnight without them doing some proper analysis are still those people that came on air to say they lost their investment, calling bitcoin all such of names because they couldn't study the market very well.
Although many invested because they want to hold for long and some of having little knowledge becus, they don't have all time to come reading and being active just like you and I, to tell you the truth what makes most of us are being this active on bitcoin are the connection that connects people around this forum, lest say this forum weren't here do you think you could be this dedicated to bitcoin?
The answer is simply No, because you have the access and free time accessing through this forum is what mostly giving passion on bitcoin.
Yes, There were sometimes when people were serious buying bitcoin thinking it would get $100k so that they could become millionaire overnight without them doing some proper analysis are still those people that came on air to say they lost their investment, calling bitcoin all such of names because they couldn't study the market very well.
Although many invested because they want to hold for long and some of having little knowledge becus, they don't have all time to come reading and being active just like you and I, to tell you the truth what makes most of us are being this active on bitcoin are the connection that connects people around this forum, lest say this forum weren't here do you think you could be this dedicated to bitcoin?
The answer is simply No, because you have the access and free time accessing through this forum is what mostly giving passion on bitcoin.
HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
It is perfectly correct. Never think to buy or invest in Bitcoin if you have no sufficient knowledge. Investing in Bitcoin is a high risk, we only waste money if we invest without a good understanding of it and know well crypto market. Nowadays, I assume most newbies are aware of the importance of learning first about Bitcoin and crypto market. There are already many cases of losing huge money because of investing in Bitcoin carelessly. As long as the newbies want to learn carefully about Bitcoin and they don't invest in a hurry, I think they will prioritize having knowledge first before buying Bitcoin.
HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
It is essential to have sufficient knowledge before embarking on any investment. It provides a detailed blueprint for achieving large returns on investment. With proper knowledge, you will be aware of the do's and don'ts in the entire investment. This isn't limited to bitcoin or the world of cryptography. This also applies to any investment or business venture that you intend to profit from outside cryptocurrency.
Don’t waste to much time when you have made up your mind to buy some bitcoin delay may favor you and also not favor you. I believe the risk is much on the Altcoin side of things.
Most altcoins are already dubbed "shitcoins," and they will cease to exist in the long run. A newbie with no knowledge of cryptocurrency could easily fall victim to this, but not the cryptocurrency world's masters. They say that waiting is dangerous, and that being patient is also beneficial, but I believe your favor will not pass you by; it is simply up to you to buy or not buy based on your instincts.
HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
Indeed, whatever the other factors, having enough knowledge about Bitcoin at first before investing is a very important thing to have. Knowledge, this is always very influencing in any cases. No matter how big and sure our desire is to invest in Bitcoin, if we still don't have enough knowledge, this will not be good. Because we really need an understanding of what Bitcoin is, what we invest in, what are the conditions, what are the risks, what are the right ways to be safe and accurate, and how can we really be able to get the results we expect. And there are many more benefits of understanding or knowledge needed before deciding to invest. The afar bolded term capture the entire message and essence of this thread, and any contribution or suggestion is welcome.
This is somehow exaggerated. Buying and holding Bitcoin doesn’t need that much critical knowledge about the market because the user just need to store his asset on a non custodial wallet and take care of his private key properly. The only time newbie will risk on different things such as ponzi and hacker is when they are exposed on deeper knowledge on crypto.
But buying and holding will make newbie safer. Having less knowledge with a simple goal and understanding on the basic is enough to become a Bitcoin investor.
Buying and holding doesn't need much knowledge what matters here is knowing the available of what you are buying, many people think when they buy bitcoin they will become rich over, and some other people think all coin is bitcoin, and they invest their money on it and later when the value depreciate they start regretting. So the most important thing is get the knowledge about bitcoin knowing that not all coin is bitcoin. Before investing in anything is better to have full knowledge about what you are about to invest on to avoid had I know. But buying and holding will make newbie safer. Having less knowledge with a simple goal and understanding on the basic is enough to become a Bitcoin investor.
Don’t waste to much time when you have made up your mind to buy some bitcoin delay may favor you and also not favor you. I believe the risk is much on the Altcoin side of things.
Although the simple steps you need to follow before buying bitcoin. First you should know is where you buying your bitcoin form, you either buy it from an exchange or you can get it via peer to peer either ways you must always try to be safe. Also where you save your bitcoin matter, basically you are at risk saving it on an exchange so get a trusted personal wallet.
Although the simple steps you need to follow before buying bitcoin. First you should know is where you buying your bitcoin form, you either buy it from an exchange or you can get it via peer to peer either ways you must always try to be safe. Also where you save your bitcoin matter, basically you are at risk saving it on an exchange so get a trusted personal wallet.
Unfortunately, at the present time, most of those who buy bitcoin are buying it for trade or investment only. Most of them do not know the features of bitcoin and do not believe in it as a decentralized peer-to-peer payment method. All they know about the history of bitcoin is that it has risen from cents to thousands of dollars.
They actually don't care to know much about Bitcoin, they only care when the price will go up.
They actually don't care to know much about Bitcoin, they only care when the price will go up.
This is somehow exaggerated. Buying and holding Bitcoin doesn’t need that much critical knowledge about the market because the user just need to store his asset on a non custodial wallet and take care of his private key properly. The only time newbie will risk on different things such as ponzi and hacker is when they are exposed on deeper knowledge on crypto.
But buying and holding will make newbie safer. Having less knowledge with a simple goal and understanding on the basic is enough to become a Bitcoin investor.
But buying and holding will make newbie safer. Having less knowledge with a simple goal and understanding on the basic is enough to become a Bitcoin investor.
If you don't have any knowledge, how can you buy bitcoin and know about non-custodial wallets to store your bitcoin? If you have no knowledge of bitcoin, do not read the history, and learn about the volatility of bitcoin, how can you have enough confidence to hold bitcoin for a long? You don't need to be a professional investor before investing, but at least a novice should have the basic knowledge.
This is somehow exaggerated. Buying and holding Bitcoin doesn’t need that much critical knowledge about the market because the user just need to store his asset on a non custodial wallet and take care of his private key properly. The only time newbie will risk on different things such as ponzi and hacker is when they are exposed on deeper knowledge on crypto.
But buying and holding will make newbie safer. Having less knowledge with a simple goal and understanding on the basic is enough to become a Bitcoin investor.
But buying and holding will make newbie safer. Having less knowledge with a simple goal and understanding on the basic is enough to become a Bitcoin investor.
HAVE KNOWLEDGE FIRST BEFORE YOU BUY BITCOIN
Yeah, because if you don't take precautions, there's a chance that you could experience something similar to what this guy[1] went through, LOL. Imagine putting your hard-earned bitcoin into a wallet you don't own and ending up getting robbed by your friend because you have no idea about what private keys are.That may be a made-up story, but the lesson is quite similar when people choose to store their assets on an exchange for long-term storage.
[1] https://bitcointalksearch.org/topic/education-is-the-key-but-knowledge-is-padlock-5442510
owning Bitcoin can be a lucrative investment, but it is not without risks. Therefore, it is vital to invest the time and effort required to gain knowledge and understanding before making any decisions. By doing so, you can enjoy the potential benefits of Bitcoin while minimizing your risks.
It is also important to note that Bitcoin and other cryptocurrencies are still relatively new and are subject to volatility and regulatory changes.
It is also important to note that Bitcoin and other cryptocurrencies are still relatively new and are subject to volatility and regulatory changes.
Im gonna add more "There is no Instant Rich" from crypto especially but you can learn a lot and make yourself rich in the end. Bitcoin is just like other investments has a lot of pros and cons and of course, there is always "RISK". Invest with cold money meaning only invest that you can afford to lose, so when something goes wrong you are not at least broke hahaha.
This necessary on anything when investing assets have more knowledge about investment worth or not, I think the same when investing in Bitcoin should have knowledge and important to know what is the best moment for investing. Many people nowadays seems hype and looking forward other signal when investing in Bitcoin.
Less research and not update about what news outside and will bad impact happening in Bitcoin or not? there are not worth with research and analyze with chart only without checking outside information update exactly with several economic world announcement will give positive or negative impact for Bitcoin when investing.
Less research and not update about what news outside and will bad impact happening in Bitcoin or not? there are not worth with research and analyze with chart only without checking outside information update exactly with several economic world announcement will give positive or negative impact for Bitcoin when investing.
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