Beginners, you don't need Bitcoin first - page 3.

Furious 7

hero member

Activity: 2856

Merit: 644

https://duelbits.com/

Quote from: HONDACD125 on August 04, 2023, 12:42:07 PM

Quote from: gunhell16 on August 04, 2023, 10:17:44 AM

If a beginner entering this industry has a regular job it is possible to say that he has the ability to start buying bitcoin. Because he has a resource that he can do the DCA too to save bitcoin.

But if a newbie buys that she doesn't have a regular job or any sideline job that is stable, I don't think it's a good option to do, but if there is a small business that can make the earnings, it is still possible. Because if jobless is a bit difficult to make DCA for bitcoin.

It is quite true that people who are doing their business or job in a good place can be more successful in crypto currency market. Investing in Bitcoin requires a good amount of money, even if buying a small amount of Bitcoin will require a decent amount. Really for those who do not have a business or a job, this platform will prove to be difficult. Those who have no other source of income should never rely solely on Bitcoin earnings. Your point is very good that DCA is a great strategy for Bitcoin but DCA is a difficult task for unemployed people.

All investments are difficult. For people who already have a job, it is already very difficult because we still have to try to manage the money in it, especially for those who do not have a job and a fixed income for them but that does not mean it cannot be done.
DCA looks more doable but again, DCA also needs a strict effort because we must be able to be more consistent to invest according to what we planned before but when talking about beginners obviously before doing DCA there must also be further learning. regardless of whether these beginners have money or not learning is important because this is not just limited to buying periodically and saving because I think they also need to look at other conditions such as the right time and momentum in buying. Conditions like this can be known (although not entirely successful because bitcoin is difficult to guess) with the learning we do.

RockBell

sr. member

Activity: 952

Merit: 391

Underestimate- nothing

Quote from: ?? on ??

Hey @Z390, Absolutely spot on! I appreciate the grounded perspective you're offering to newcomers in the crypto realm. It's tempting to dive headfirst into the world of digital currencies, especially when you hear the success stories. But as you rightly pointed out, those stories don't always touch on the stability and security a consistent income can bring.

Before investing in bitcoin, all of the guiding principles should be taken into account. As you mentioned, the first is financial stability. The second is knowledge, which will prevent you from being taken advantage of during the introduction process. The third is to take security seriously and know how to activate good security measures. Returning to financial stability, you stated that if you don't have other sources of income, you will use your investment as a repository for an emergency fund, which is bad for business. and since investing in bitcoin is a long time business patience is another factor to be considered.

Franctoshi

hero member

Activity: 966

Merit: 588

Quote from: summonerrk on August 04, 2023, 09:57:53 AM

I even feel a little sorry for modern newcomers coming to the crypt, as they do not see the crazy bull market of growing altcoins that we saw in about 2019. I mean ICO, when literally wherever you invest money, you will succeed everywhere, the only question was how much the investment will grow. Back then, benches were not a frequent occurrence. And on the other hand, now there are other possibilities in everything, even if the time of multiaccounts has passed rapidly, nevertheless it was also a way of earning money.
Therefore, as I stated earlier, the best thing for beginners is to keep bitcoin on the wallet and wait. And it's even better to have some money in fiat so that you can buy the number one cryptocurrency if the Bitcoin exchange rate drops.

It was indeed a great experience during those crypto bubbles in 2019, The cryptocurrency industry (Altcoins) was still in its growing stage as compared to the awareness it has today, and it's now clear that Bitcoin is the king of cryptos and reason to stick with investing in Bitcoin. During those days, people could just throw money anyhow in altcoins and come out with it, But now they look at the projects with use cases and with promising future.

someone703

full member

Activity: 944

Merit: 101

PredX - AI-Powered Prediction Market

Of course, any job related to the market requires you to have a large amount of knowledge and if you invest, you must also have a certain amount of assets. In fact, everyone has the right to decide how to use and invest their money as they see fit.

For those who do not have a lot of money, it is better to save and invest part of their money in bitcoin. After learning a lot about this market, you will have an accurate view and decision about your investment.

Victorik

member

Activity: 994

Merit: 14

Great talk. The take home here is to first invest in yourself before even thinking of investing in Bitcoin. Besides if you don't have a job before buying BTC, you might not really be able to hold, except you are getting additional source of income.

abel1337

legendary

Activity: 2492

Merit: 1145

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: HONDACD125 on August 04, 2023, 12:42:07 PM

Quote from: gunhell16 on August 04, 2023, 10:17:44 AM

If a beginner entering this industry has a regular job it is possible to say that he has the ability to start buying bitcoin. Because he has a resource that he can do the DCA too to save bitcoin.

But if a newbie buys that she doesn't have a regular job or any sideline job that is stable, I don't think it's a good option to do, but if there is a small business that can make the earnings, it is still possible. Because if jobless is a bit difficult to make DCA for bitcoin.

It is quite true that people who are doing their business or job in a good place can be more successful in crypto currency market. Investing in Bitcoin requires a good amount of money, even if buying a small amount of Bitcoin will require a decent amount. Really for those who do not have a business or a job, this platform will prove to be difficult. Those who have no other source of income should never rely solely on Bitcoin earnings. Your point is very good that DCA is a great strategy for Bitcoin but DCA is a difficult task for unemployed people.

Every investment is hard for majority of the people who doesn't have a stable income. I'm sure unemployed people will have a hard time doing DCA given that they have a timeframe to buy and having a problem with money will just ruin your DCA strategy. Buying bitcoin is a good investment in my personal oppinion but having no income to sustain your living is a very bad move to begin with. Forcing yourself to buy bitcoin that will have no sense in times of need. Imagine buying something as an investment that you don't use and sell it at a lower price because you aren't ready for potential problems like being short on living expenses or an emergency. I believe that investing on cryptocurrency should be at most second to maintaining your survival in life.

HONDACD125

sr. member

Activity: 336

Merit: 292

20BET - Premium Casino & Sportsbook

Quote from: gunhell16 on August 04, 2023, 10:17:44 AM

If a beginner entering this industry has a regular job it is possible to say that he has the ability to start buying bitcoin. Because he has a resource that he can do the DCA too to save bitcoin.

But if a newbie buys that she doesn't have a regular job or any sideline job that is stable, I don't think it's a good option to do, but if there is a small business that can make the earnings, it is still possible. Because if jobless is a bit difficult to make DCA for bitcoin.

It is quite true that people who are doing their business or job in a good place can be more successful in crypto currency market. Investing in Bitcoin requires a good amount of money, even if buying a small amount of Bitcoin will require a decent amount. Really for those who do not have a business or a job, this platform will prove to be difficult. Those who have no other source of income should never rely solely on Bitcoin earnings. Your point is very good that DCA is a great strategy for Bitcoin but DCA is a difficult task for unemployed people.

gunhell16

hero member

Activity: 1666

Merit: 453

If a beginner entering this industry has a regular job it is possible to say that he has the ability to start buying bitcoin. Because he has a resource that he can do the DCA too to save bitcoin.

But if a newbie buys that she doesn't have a regular job or any sideline job that is stable, I don't think it's a good option to do, but if there is a small business that can make the earnings, it is still possible. Because if jobless is a bit difficult to make DCA for bitcoin.

summonerrk

hero member

Activity: 1470

Merit: 790

ARTS & Crypto

Quote from: Inwestour on August 04, 2023, 06:45:58 AM

Quote from: summonerrk on August 03, 2023, 10:39:28 AM

And I think there is hardly anything better than bitcoin for a beginner. Because you need to start with something. It is obvious that work is needed, as the author writes, because without a good portfolio with a deposit of several thousand dollars, it is difficult to receive passive income from cryptocurrencies. Nevertheless, in fact, all beginners start the same way. They buy bitcoin and hold it, looking at the price every hour. I'm sure everyone will understand me, because we were the same. I don't write about altclines because there is a lot of scam right now. And before, when I was young, everyone knew which altcoins would be profitable. Decred, EOS, Lisk - every serious coin with a big name over time made you richer.

Yes, it's not just beginners who like to look at the price of bitcoin every few minutes.

That's right, beginners are definitely the most likely to succeed with bitcoin. I do not argue that there are experienced investors who are able to make a portfolio of altcoins, which in the long term is able to overtake a portfolio of bitcoin. But firstly, there really aren’t many such people, and secondly, how much can a portfolio of altcoins outperform a portfolio of bitcoins, how significant can this difference be?

So yes, for a beginner, Bitcoin will definitely be the best start in his investment. And then it will be necessary to work on increasing investments, since buying several thousand dollars worth of bitcoin will really not bring tangible results.

I even feel a little sorry for modern newcomers coming to the crypt, as they do not see the crazy bull market of growing altcoins that we saw in about 2019. I mean ICO, when literally wherever you invest money, you will succeed everywhere, the only question was how much the investment will grow. Back then, benches were not a frequent occurrence. And on the other hand, now there are other possibilities in everything, even if the time of multiaccounts has passed rapidly, nevertheless it was also a way of earning money.
Therefore, as I stated earlier, the best thing for beginners is to keep bitcoin on the wallet and wait. And it's even better to have some money in fiat so that you can buy the number one cryptocurrency if the bitcoin exchange rate drops.

Inwestour

hero member

Activity: 980

Merit: 947

Quote from: SquirrelJulietGarden on August 04, 2023, 08:16:34 AM

It is a bad habit and not only newbies have that addictive habit. Unfortunately, it is not easy to get rid of any bad habit after you fell into it and get addiction. Looking at price charts are very interesting with newbies and amateur traders as they feel like they will die or will lose in trading if they don't look at the chart every minute.

They don't know a secret fact in trading, a more times you look at price chart, the more psychological impacts on your trading and the more you will easily make emotional positions for your trades.

I'm talking about this and say that this habit is not only for beginners. I can understand that this may be necessary in the case when a trader wants to follow the chart so as not to miss a profitable trade, although reminders can be used for this, but for long-term investors this is not necessary, just buy bitcoin and forget about your investment until the news won't start screaming that bitcoin hit 100k.

Yes, there is such a factor, long-term monitoring of charts is very tiring, which is why I like being an investor. Grin

SquirrelJulietGarden

hero member

Activity: 1442

Merit: 775

Quote from: Inwestour on August 04, 2023, 06:45:58 AM

Yes, it's not just beginners who like to look at the price of bitcoin every few minutes.

It is a bad habit and not only newbies have that addictive habit. Unfortunately, it is not easy to get rid of any bad habit after you fell into it and get addiction. Looking at price charts are very interesting with newbies and amateur traders as they feel like they will die or will lose in trading if they don't look at the chart every minute.

They don't know a secret fact in trading, a more times you look at price chart, the more psychological impacts on your trading and the more you will easily make emotional positions for your trades.

Quote

So yes, for a beginner, Bitcoin will definitely be the best start in his investment. And then it will be necessary to work on increasing investments, since buying several thousand dollars worth of bitcoin will really not bring tangible results.

Bitcoin is a best for newbies to start but we must emphasize that start with investment, buy and hold. If they start with trading, buy and trade their bitcoin, it's not good and they will lose their bitcoins.

Inwestour

hero member

Activity: 980

Merit: 947

Quote from: summonerrk on August 03, 2023, 10:39:28 AM

And I think there is hardly anything better than bitcoin for a beginner. Because you need to start with something. It is obvious that work is needed, as the author writes, because without a good portfolio with a deposit of several thousand dollars, it is difficult to receive passive income from cryptocurrencies. Nevertheless, in fact, all beginners start the same way. They buy bitcoin and hold it, looking at the price every hour. I'm sure everyone will understand me, because we were the same. I don't write about altclines because there is a lot of scam right now. And before, when I was young, everyone knew which altcoins would be profitable. Decred, EOS, Lisk - every serious coin with a big name over time made you richer.

Yes, it's not just beginners who like to look at the price of bitcoin every few minutes.

That's right, beginners are definitely the most likely to succeed with bitcoin. I do not argue that there are experienced investors who are able to make a portfolio of altcoins, which in the long term is able to overtake a portfolio of bitcoin. But firstly, there really aren’t many such people, and secondly, how much can a portfolio of altcoins outperform a portfolio of bitcoins, how significant can this difference be?

So yes, for a beginner, Bitcoin will definitely be the best start in his investment. And then it will be necessary to work on increasing investments, since buying several thousand dollars worth of bitcoin will really not bring tangible results.

WannaCry

full member

Activity: 742

Merit: 101

Quote from: Z390 on July 18, 2023, 04:04:39 AM

What you need is a JOB, work on that first.

Let me rephrase that. - What you need is a good paying JOB.

Not all jobs pay well. It's also a dangerous strategy if you invest into bitcoin after landing your 1st job because we all know its price is very volatile. If emergency happens and the price you've bought bitcoin is lower than the time you need it then your investment is already negative. I suggest that before investing into bitcoin whatever class in the society you are invest only the amount that you won't think of everyday and treat it like to be your generational wealth.

piercekieran99

newbie

Activity: 12

Merit: 0

I learned this the hard way. Secure a job first, then venture into Bitcoin investment. It's a lesson I wish I knew earlier.

Obari

sr. member

Activity: 602

Merit: 442

I buy all valid country Gift cards swiftly.

Excellently said.
I love every thing you've said so far and the truth is always bitter and as such, I also stand with you to tell newbies to try getting a job before thinking of buying or investing in cryptocurrency and bitcoin as whole because. the principle of cryptocurrencies is that we shouldn't invest with money we're not willing to loss and this principle is so because of the high volatility nature of bitcoin.

I've also seen Several threads of newbies claiming to have bought the their first bitcoin just for the purpose of making topics and getting recognized.

I wish you Goodluck

GigaBit

hero member

Activity: 1666

Merit: 513

Leading Crypto Sports Betting & Casino Platform

Quote from: Z390 on July 18, 2023, 04:04:39 AM

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.

This matter of yours cannot be ignored in any way. Of course, a Bitcoin holder must have some other means of making a living. Otherwise, he will not be able to hold on to his bitcoins as a target. However, there are a large number of investors who use all their money to buy Bitcoin and are forced to sell it at a low price when they need their money even there is a bearish market. If awareness can be raised about this issue before investing, many investors will be able to hold their bitcoins even during bearish times, thus they can profit from bitcoins.

Aikidoka

sr. member

Activity: 1078

Merit: 342

Sinbad Mixer: Mix Your BTC Quickly

Quote from: Peanutswar on August 02, 2023, 06:47:06 AM

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

True before starting to invest in crypto, people should first understand how it works and learn the basics about it. IMO Without this minimum knowledge serious troubles can arise and I mean here particularly concerning security aspects. With just a basic understanding of Bitcoin and related matters one could easily lose their funds due to hacking or other stupid mistakes. Therefore, it's essential to think wisely and conduct thorough research before taking any steps with Bitcoin or any other crypto you use. Remember Bitcoin is money, and losing it due to carelessness is not a joke, so you better be careful with every step you do.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Texac on August 03, 2023, 07:27:17 AM

Quote from: Peanutswar on August 02, 2023, 06:47:06 AM

Quote from: mirakal on August 02, 2023, 06:40:05 AM

Quote from: Mame89 on July 21, 2023, 01:27:29 PM

Quote from: Z390 on July 18, 2023, 04:04:39 AM

You don't need Bitcoin first, What you need is a JOB, work on that first.

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

Well, there are also some instances that we get to invest in bitcoin because we received huge amount of money from our inherited assets, and not from our hard-earned money from our job. I think that is a good mindset too, trying to diversify your investments and not just letting your cash sleeps in the bank. However, in case your investments do not worked as planned, and all your savings have started to run out, then you should land a stable job that will sustain your needs before all your investments and hard-earned savings will be gone. But if you can get a stable source of income in the first place, I guess that will help you grow your investments without the need to sell your bitcoin whenever its price suddenly crashed.

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

Right, whether it's inheritance or savings from income, newbies shouldn't rush to invest in bitcoin without any knowledge of it. they don't need to spend a lot of time learning everything and waiting for a solid amount of knowledge to start investing, because if they do, they will most likely miss the opportunity to buy cheap. but at least, they must have the most basic knowledge to start investing. Diversification is inevitable but it will not be enough, they also need other sources of income from other investments, or a job to ensure safety.

When it comes to investing then it would really be requiring that kind of knowledge and skills or awareness on what you are tending to get involved with because on the time that you would be skipping out on learning with the basics then you would really be finding yourself on some huge issues on which it would really be resulting into losing those money or investment that you had made out. Beginners would really be normally be lacking out those knowledge for them to make further steps which would really be that either wise or not. It is really just that there are people who are really that having that rush decisions when it comes to investment because
of lack of knowledge and experience then this is where mistakes and errors do usually came from.

Doesnt matter whether you are dealing with Bitcoin or other type of investment which it turns out to be default thing on what are the things that you should gonna supposed to do on the time that you would be making up decisions in correlation with investment. It would be necessarily needing up that kind of approach and mindset for you to sustain out because if you wont then for sure it would be giving out that negative effect
and other issues on which you could be able to experience on.

Essential10

full member

Activity: 448

Merit: 130

Quote from: Z390 on July 18, 2023, 04:04:39 AM

You don't need Bitcoin first, What you need is a JOB, work on that first.

Very few people who work, are successful. I will put business before job. Business is a medium through which you can get established very easily. There is a certain amount of salary in the job, which is limited to maintain your family and personal life. From that point of view, if you do business, you are more likely to get extra money even after meeting the needs of your family and personal life. You can invest in Bitcoin from the beginning with extra money.

summonerrk

hero member

Activity: 1470

Merit: 790

ARTS & Crypto

Quote from: Inwestour on August 03, 2023, 09:55:16 AM

Quote from: Peanutswar on August 02, 2023, 06:47:06 AM

~~~.

This applies not only to bitcoin, any investment should be thoroughly studied before investing money in it. Investing in cryptocurrencies seems easier compared to buying real estate or other investments that require large investments, but this does not mean that this simplicity will give the best result. In addition, when a beginner starts to understand, he will understand that it is not as easy as it seemed at first.

If, in addition to bitcoin, a beginner wants to buy altcoins, it will be even more difficult, because you will have to choose which ones to buy. And even if he buys only bitcoin, there will still be many questions, even without taking into account how it works. So the conclusion here is clear, you should not buy until you know exactly what you need and you know what to do with this bitcoin.

And I think there is hardly anything better than bitcoin for a beginner. Because you need to start with something. It is obvious that work is needed, as the author writes, because without a good portfolio with a deposit of several thousand dollars, it is difficult to receive passive income from cryptocurrencies. Nevertheless, in fact, all beginners start the same way. They buy bitcoin and hold it, looking at the price every hour. I'm sure everyone will understand me, because we were the same. I don't write about altclines because there is a lot of scam right now. And before, when I was young, everyone knew which altcoins would be profitable. Decred, EOS, Lisk - every serious coin with a big name over time made you richer.

Topic: Beginners, you don't need Bitcoin first - page 3. (Read 1360 times)