Can a newbie make investment before learning? - page 2.

Alpha Marine

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Quote from: Cryptomultiplier on May 08, 2024, 06:51:48 PM

You clearly are a very newbie indeed for coming up with such a post that sounds rhetoric or should I say you just need the attention.
Why should someone without a proper investment knowledge, invest their hard earned money and hope to make profit, before they then learn about what they have invested in and hope to invest more, make more profit and become a professional all of a sudden?
It makes no absolute sense, infact how does the learner acquire the investment and keep it safe before they learn how to?

You attack him like the question he asked is absolutely stupid. I agree that his post could have been placed better, but the question he asked is a legit question. A lot of people invest in what they don't understand and it's not just in bitcoin. People invest in different things when they don't fully understand it, foreign exchange, stock etc and this is what makes people fall into Ponzi schemes. If they took their time to understand what they were getting into before going into it, they would have realised that it's a scam.

The thing is, Ponzi schemes won't let you understand it because that way they'll be caught, so they'll preach to you that the more you wait the more you lose an opportunity, bitcoin isn't so. There's no point to rush. Bitcoin is not going anywhere. Don't be pressured to start investing. Don't make your decisions based on FOMO. This should apply to every other investment. Have at least the basic understanding of of whatever you want to invest in.

TimeTeller

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Quote from: Onyeeze on May 15, 2024, 04:46:51 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

some people is not trying to learn bitcoin very well because I know quite well that if you brought out time to learn Bitcoin within interval of 2 months you will be able to understand the procedures of Bitcoin many people who lost for bitcoin investment is the people what does not exercise a patient and is also people who carry a negative information of Bitcoin when the loss in Bitcoin investment, it is obvious and understanding now for you to learn bitcoin and master it very well you must make a research and the even the community alone can give you another opportunity for you to learn bitcoin if you are observant

Not only with bitcoin but in any type of investment as well.
In any form of investment, you will need to understand what's going on about it.
If you will jump without prior research or at least brief study about it, you will likely lose your funds without a battle.
So crypto or not, better make sure you are doing your due diligence as it is your money on the line.

Onyeeze

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

some people is not trying to learn bitcoin very well because I know quite well that if you brought out time to learn Bitcoin within interval of 2 months you will be able to understand the procedures of Bitcoin many people who lost for bitcoin investment is the people what does not exercise a patient and is also people who carry a negative information of Bitcoin when the loss in Bitcoin investment, it is obvious and understanding now for you to learn bitcoin and master it very well you must make a research and the even the community alone can give you another opportunity for you to learn bitcoin if you are observant

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Your subject-topic almost sounded like a question, until I read the whole thread.
Op, I normally do advice that people learn about Bitcoin before investing; There could be no harm in investing without having a pre-knowledge, but you'd only have yourself to blame should anything happen as a result of your ignorance.
Does it cost you alot to learn about something you wanna invest in? No! Are you just being too lazy or more interested in the outcome, without giving a Fk to how that happens? Yes!

Quote from: lovesmayfamilis on May 08, 2024, 10:50:25 PM

To be an investor in Bitcoin, you do not need to know higher mathematics. Learn to use a wallet. The Electrum wallet is very convenient for beginners.

Electrum was a great deal when I started using wallets

TW was all I knew and, that's way simpler!

sunsilk

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Quote from: |MINER| on May 15, 2024, 01:11:22 PM

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge.

While I am going to suggest them to invest in Bitcoin only if they want to start. But it doesn't mean that they need not to invest to learning first. Every investor should be wise and that's what I am going to tell them to do. They need to DYOR.

Even it is with Bitcoin, they need to understand how it goes and how the market works for everyone. If they proceed to trading without that much understanding and idea of how the market works, they're just burning their money easily.

Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I agree and I hope they understand it very well.

Winterfrost

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Quote from: |MINER| on May 15, 2024, 01:11:22 PM

Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge. Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

I agree with you, all you said is correct. We are not supposed to be in a haste to invest, especially when dealing with Cryptocurrencies. It is best to have a good knowledge on what one is investing into, if it is Bitcoin or any Altcoin, which these Altcoins are very risky even to those who understand the market already then compared to a newbie who has no knowledge. If a newbie really wants to earn from cryptocurrency then he should first achieve some basic knowledge.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

I will not going to suggest any newbie to invest in crypto before learning because cryptocurrency trading is high risky, you can loss you all fund if you invest with out proper knowledge. Because even then if you want to invest on bitcoin long-term you have know at least the basic about it .

Sakanwa

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It is not really good for a newbie to make investments before learning how to, because that is a very big risk,and if you aren't careful,all your money will be wiped out from your account.There are some important things about investing which are all vital to learn before proceeding to make investments, except you don't want to care whether you will lose or not,that you will go ahead in making the so called investments you wish.But the best thing is to know about trading,and how to invest so you wont the just g gift them free money.

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Quote from: moneystery on May 10, 2024, 04:09:33 AM

-snip- so the question that should be asked is not whether a newbie can invest in bitcoin or not, but whether they understand bitcoin investment or not because those are two different questions.

Or better said, if a newbie who doesn't understand bitcoin investment SHOULD invest in Bitcoin or not. Maybe not the best way to articulate the question, but it can understood what he meant.

On the other hand, as said before, he makes the question but also answers it. Although I imagine that he is willing to hear different opinions and that's why he wrote his post.

IMO, a newbie who doesn't understand bitcoin investment but who is interested or simply curious should buy a few sats and try to move them between wallets, experiment with fees, even coin control. You don't need more than a few bucks in exchange and it can give you a practical experience you won't get by simply reading theory (and it is also much more fun). Take for granted that you "spent" the few bucks and if you eventually lose them it won't matter. Once you get the required knowledge and experience you'll be able to buy more, if you are still interested.

AYOBA

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings .

Indeed alot of newbies fallen in the hand of scammers because of lack of knowledge, some of Newbies are always think that they wise that's why the scammers find them very easy to hack their properties. The Bitcoin investment deserves a enough knowledge due the some of the risks that are involved, but some people's don't want to know about it and that's why many newbies get scammed, the Bitcoin investment has a huge profits which if a person take his time and study about the Bitcoin investment well in future it might turn to a huge profits.

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Take your time learn and implement before you inter market or make any investment as a newbie

Yes this is a good advice to everyone not only the newbies any body who to become a successful person in this life most actually engage his with much reaserch about the Bitcoin investment so that he can cover every part of Bitcoin.

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Quote from: Sonia_123 on May 11, 2024, 04:33:36 PM

How can you invest when you don't know what to do, for a pure newbie of bitcoin,i do not think it is possible,it shows you don't value your fund ,i bet you, you will no longer have the time to read enough the way it's suppose to be when you have not invested , remember investing in bitcoin or any other cryptocurrency is not like buying and selling other goods in the market , you need to understand the bases, terminologies and how it works before investing, therefore it is adviced to know what you are putting your money into. Investing in Bitcoin, you need to know the type of wallet to use ,the term of investment that is short-term or long-term, investing pattern using DCA or otherwise.

It is indeed advised to study and learn the venture one is interested in investing into but it is also possible to invest without learning the market flow. Since investing is just putting money into an investment venture and that can be done even without learning anything. It is that investing blindly without knowing the market often leads to losses.

Quote from: Z390 on May 11, 2024, 04:52:32 AM

Some did end up losing a lot of money because they dont chose Bitcoin, they went for altcoins, if a newbie buys Bitcoin without knowing more they are safe if they choose the right place to buy and also the right wallet to store the Bitcoin.

Investing in Bitcoin is not 100% profit, remember one need to sell at a higher price in order to get profit but there are cases where Bitcoin investors are forced to sell their stash for lower price due to being lack of knowledge about the market, weak hands or urgent matter.

Profiting in Bitcoin investment is a matter of how the investors sell their stash in a higher price. It isn't a magic where a Bitcoin investor will automatically get a profit once he invested in it.

Quote from: Z390 on May 11, 2024, 04:52:32 AM

The dangers of buying altcoins without knowing anything are so higher than buying Bitcoin without knowing anything about Bitcoin, like I told my nephew hours ago, you can't lose with Bitcoin until you decide to sell for a lower price than you bought it.

That is what I am saying, not all people who invested in Bitcoin are able to sell their stash at a higher price so it is not about choosing between Bitcoin or altcoin but it is about how they timed their buying and selling of their stash. Though I agree that choosing Bitcoin give an investor a lesser risk than buying altcoin.

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Quote from: Bravut on May 09, 2024, 08:47:17 PM

Quote from: Cosette on May 08, 2024, 10:56:01 PM

If you buy a book or a course that make you learn about something that you want to invest, then its considered as investment before learning.

Seems you are confuse Mate. You did say buy a course or book that will educate you on your proposed investment option is it not after reading or studying the course you then understand how to go about investing in that option. How is then investment before learning?,lol. Understand a post before commenting, we are not talking about buying a book or course as investment in this scenario but in terms of monetary value.

I believe everyone makes points but most of them are regarded to be out of line. Its funny how people rush to make comments with actual understanding of the whole article. Everyone have their view about posts reference. @Cosette was simply putting out his points and ideas, I see nothing wrong with what he have pin down but he also failed to understand the question been asked by OP. Perhaps he went too far but it's also recommendable to share ideas and explore our means of communication.

Sonia_123

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How can you invest when you don't know what to do, for a pure newbie of bitcoin,i do not think it is possible,it shows you don't value your fund ,i bet you, you will no longer have the time to read enough the way it's suppose to be when you have not invested , remember investing in bitcoin or any other cryptocurrency is not like buying and selling other goods in the market , you need to understand the bases, terminologies and how it works before investing, therefore it is adviced to know what you are putting your money into. Investing in Bitcoin, you need to know the type of wallet to use ,the term of investment that is short-term or long-term, investing pattern using DCA or otherwise.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Many newbies invested before learning and they did it right, it doesn't take a thing to go on Google and check Bitcoin out, and this day Binance exchange is available including many top exchanges, unlike in the past where you could get caught in a fake crypto exchange.

Some did end up losing a lot of money because they dont chose Bitcoin, they went for altcoins, if a newbie buys Bitcoin without knowing more they are safe if they choose the right place to buy and also the right wallet to store the Bitcoin.

The dangers of buying altcoins without knowing anything are so higher than buying Bitcoin without knowing anything about Bitcoin, like I told my nephew hours ago, you can't lose with Bitcoin until you decide to sell for a lower price than you bought it.

Franctoshi

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I always encourage learning before making your investment, This way you won't fall victim of making to many investment mistakes people do because they don't properly understand what they are investment on, Let's for instance someone that doesn't know how Bitcoin works, the investor wouldn't know what to do at any time, Such as ways we go about Buying BTC, like using DCA strategy, Buying the dips and all sorts of that helps us to try to position ourselves properly in the volatile market. Lastly someone that doesn't property understand Bitcoin properly would likely Fomo buy and sell on sell pressures regardless the fact people can buy Bitcoin and forget it, but someone with good knowledge of Bitcoin and investment would undoubtedly outperform someone with zero knowledge, because this investor will know good entry and exiting points.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

internet has made it all to everyone to understand that we have scammers so whoever that is a victim of scammer is not a wise any longer because even in this community we have also be conscious of scammers and with the kind of information we pass to each one another I don't think that some of us will be a scam again so if we get scam that means it is out of our selfish interest

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

There are alot of things to learn about bitcoin, but not so much to know before investing. Your ability to learn how to send and receive bitcoin. Your ability to write your seed phrase down and secure it, your ability to avoid clicking random links are the little knowledge needed to start investing in bitcoin. When you now get involved, you can be learning along because learning is a continuous process. If you sit back and wait unendingly to when you will learn everything before investing is bad. Just done enter the market with what you cannot afford to lose. This is key. Just start little but when you get enough knowledge you can increase your earnings.

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You can but the rate of chance of getting scammed is high. And you will lose all your hard-earned money in just a blink of an eye, something that happens to all of those who rush to invest without doing proper research and studies first. That is why as much as possible, take your time in studying your investment first and all its risks involved. You will soon to invest, but at least by that time, you are already sure to yourself that you won’t get scammed throughout the process.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge -snip-

You have answered your question yourself. It is true that there is a too high risk if a newbie is trying to invest without learning first. He can be deceived by scammers to join scam projects, or he may choose the wrong time to buy coins. The only way to know how to invest in a proper way is learning from varied sources. But make sure newbies learn from trusted sources.

Quote from: moneystery on May 10, 2024, 04:09:33 AM

can a newbie make investment before learning? yes, they can, they can invest in bitcoin even if they don't know anything about it, just search on google there are many articles on how to buy bitcoin.

Newbie can buy Bitcoin, but they don't know how to invest in Bitcoin properly if they don't have knowledge.
Investing in Bitcoin isn't only about buying (entry) and holding, it is also about selling (exit) or taking profits. If newbies don't have knowledge about Bitcoin investment, they probably buy the Bitcoin at any time and they don't set a target for selling price yet. This is risky, how if the newbies buy the Bitcoin when it is in the peak price for this season? The newbies probably will sell for losses in the next months or years when there is a huge dump. Knowledge is important to have strong mentality and to have smart ways in managing the investment.

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Quote from: Plan well on May 08, 2024, 06:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

The only investment you will make in cryptocurrency and would be a good idea to learn about it later is buying Bitcoin and even that alone doesn't mean you are completely not vulnerable to volatility, you can see your Bitcoin appreciate and you can see it depreciate depending on how market react to any available news for that time but please I will advice you to learn how to save your Bitcoin and private keys, if you don't you risk losing everything tiny Bitcoin that you have.

You should also learn to avoid anything scam, send 1 Bitcoin to get two, anything that is greed related to Bitcoin and anything that will make you lose your Bitcoin, just avoid it else you will learn the hard way.

PS: I will strongly advise you to read and learn before buying, you will thank me later.

Topic: Can a newbie make investment before learning? - page 2. (Read 630 times)