It's hard to accept but it is the harsh reality. I have also met many people even I am included. Who tries to invest in BTC or Trade in BTC in the hope of making money out of it. The funny thing is we are using the money that's is all we have and starting with zero knowledge.
I mean, in this situation if the market will come down then obviously the trader/investor will panic trade. And will face loss too. So, to keep your mind relaxed and to avoid yourself from all the market sentiments, a source of income is necessary. It's not that compulsory but I would say it's the best practise to have a source of income before investing in BTC or any other currency.
Topic: Beginners, you don't need Bitcoin first - page 11. (Read 1358 times)
You made a valid point and there's something I'd like to stress on. While Bitcoin has the potential to make you rich, it also has the power to cause an early death(esp if you are faint hearted 
)..how do I mean? With it's penchant for volatility, it is better to start with something small, like the Op pointed out but that's when youve got a job on the side.
But imagine one who's got a job on the side but does not fully make a research about bitcoin trading and just jumps in can still panic when the market goes down. Do another key factor to consider after all these you've mentioned is to carry out a proper research before investing.
)..how do I mean? With it's penchant for volatility, it is better to start with something small, like the Op pointed out but that's when youve got a job on the side. But imagine one who's got a job on the side but does not fully make a research about bitcoin trading and just jumps in can still panic when the market goes down. Do another key factor to consider after all these you've mentioned is to carry out a proper research before investing.
I understand your point that bitcoin investment is solely for the financial buoyant people and it is true because of the volatility it possesses. But I wouldn’t say people without much Should stay away from it. They can simply use it as a trading method to buy things. Also even the less buoyant can as well save in bitcoin of at all the the money is meant to be saved for a very long time, this will help them curb the devaluation effect affecting fiat.
The only thing is when a Person who is struggling financially runs to save every little penny they have into bitcoin with the intention of making profit then that is where the problem lies
The only thing is when a Person who is struggling financially runs to save every little penny they have into bitcoin with the intention of making profit then that is where the problem lies
Great advice. Financial stability should definitely come first. Invest in yourself, get a job that pays well, and then dollar cost average to get to your 1st Bitcoin. I wish I've gotten this advice back in the day.
I have read some interesting stories of few members on this forum that did all they could to buy their first set of BTC years ago and also how they made it through the journey, but one thing that I found missing from those stories is a secured job..
Newbies or Beginners, who are aiming to start buying Bitcoin for future sakes, I want you to take this advice very seriously, do not start your Bitcoin investment living under a roof that still feeds you, it could work but it will make things to be more difficult for you.
When you don't have anything else to fall back on, after asking your brothers or sisters in the family to give you some money for investment, what will you do when you get the Bitcoin? You need to live, you will have desires to buy things, and you will panic if the market move downside even more..
All this will happen because you have no job secured, as a beginner, before investing in Bitcoin, make sure you have a job or source of income, it will make the journey of accumulation to be easier and less bothered about the market behavior.
Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money, it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.
You don't need Bitcoin first, What you need is a JOB, work on that first.
Newbies or Beginners, who are aiming to start buying Bitcoin for future sakes, I want you to take this advice very seriously, do not start your Bitcoin investment living under a roof that still feeds you, it could work but it will make things to be more difficult for you.
When you don't have anything else to fall back on, after asking your brothers or sisters in the family to give you some money for investment, what will you do when you get the Bitcoin? You need to live, you will have desires to buy things, and you will panic if the market move downside even more..
All this will happen because you have no job secured, as a beginner, before investing in Bitcoin, make sure you have a job or source of income, it will make the journey of accumulation to be easier and less bothered about the market behavior.
Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money, it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.
You don't need Bitcoin first, What you need is a JOB, work on that first.
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