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

Viscore

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Quote from: Plan well on May 08, 2024, 07:41:11 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

This is just another topic that even an elementary grader will be able to answer correctly. Now, if you are a responsible investor, you will stick to what is right and basic. Know your investment first before you start risking your money. Do not take shortcuts wherein you tend to invest first and learn your first lesson as well, that will only put your losses at a high rate. Instead, follow the path of those early investors who are successful today. Take the time to study your investment first, until you gain your own confidence investing in it.

Ndabagi01

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Quote from: Plan well on May 08, 2024, 07:41:11 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

Treat bitcoin like any other investment that you’ll have an experience about before putting your money into it. Without prior knowledge about bitcoin, it’s not advisable to invest in bitcoin because you stand at a very high risk of losing all of your assets. Without knowledge, you’re prone to scammers and also you can expose yourself to phishing attacks which are one of the easiest way they can get through your savings and cater away with all that you’ve invested. Some have argued in the past to buy bitcoin when you know about it in order not to lose at buying early like other investors. But the truth of the matter is that, if you do so, you will end up buying early and end up losing everything to scammers because you don’t know how to secure and protect your account.

Alone055

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Quote from: Plan well on May 08, 2024, 07:41:11 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

It's obvious if you don't even know how an investment is done or how you can make investments in something, you can't do it right. Newbies who get scammed tend to invest their money in websites that use Bitcoin's name and ask people for investments and promise them high returns. Now if someone understands that investing in Bitcoin means buying Bitcoin from an exchange, they wouldn't be making such mistakes, right?

This is the reason why one needs to understand everything before they get involved in something, especially if they know there are finances involved because you can't risk your money on something that you don't even understand even if you have heard that it provides profits. So even if one is doing everything right, they still need to understand everything.

boyptc

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Quote from: Russlenat on May 09, 2024, 06:30:21 AM

Quote from: boyptc on May 08, 2024, 07:55:44 PM

Quote from: Plan well on May 08, 2024, 07:41:11 PM

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

Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.

Don’t be greedy as well, that will only force you to take shortcuts believing that you could end up with quick and huge profits. Instead, follow the process. Make an in-depth research and study. Know your investment well, before you take such risk to invest your hard-earned money. That could be the best way possible in order to avoid too much losses and increase your chances to stay in profits.

Yeah, that the process naturally and enjoy it.

Because a newbie that's making an investment shouldn't hurry for them to understand how the market's concept works.

It's about the process that they need to analyze and understand and then, that investment approach will be learned and everything seems going to be easy mentally and emotionally.

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Quote from: Plan well on May 08, 2024, 07:41:11 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

If you talking about investment in bitcoin, then you may be right on that advice of investing before learning and the possibility of success along the line is there, since bitcoin is less volitile compared to other coins in the market, also bitcoin can be hold for long term without the risky of losing all the investment because of market crash.
But when you dive into the world of altcoins, it then means that you have chosen a more volitile approach that way you need alot of knowledge experience and expertise to make profits from them, so you can't chose altcoin before you leave about it and also because of the high risk with altcoin, you can confidently hold it for long term based.

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Quote from: Rockstarguy on May 09, 2024, 03:07:08 PM

Quote from: Plan well on May 08, 2024, 07:41:11 PM

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

Their is nothing to learn much, all you just need to know before investing bitcoin is to use the right wallet and to know how to secure your wallet, you also need to understand how scammers work because beginners are always target of scammers. Then you also need to understand that investing in Bitcoin does not make one to become rich quick and you should understand that the market is very volatile and you Need to invest only the amount you can afford to lose which you don't need to depend on it to give you profit very fast. If you can understand all this I don't think you will have problems in investing in Bitcoin.

Well I disagree with you, knowing the right wallet and how to secure your wallet is not enough for a beginner who wants to invest in Bitcoin, is it possible for someone who does not have any knowledge of Bitcoin to know when to buy Bitcoin to HODL? I believe there's so many things a newbie should know aside the things you talked about because for someone that knows how create wallet the person may still find it difficult to buy Bitcoin or transfer Bitcoin from his wallet to make p2p transactions. The newbie will not even understand what the market is all about if not properly guided that's why it is advisable they get knowledge first before rushing to invest.

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Quote from: Plan well on May 08, 2024, 07:41:11 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

Yea, it is a very good thing to do. Learning is the first step to any success and without good knowledge, there will be obstacles along the line which can lead astray.
In crypto and Bitcoin investment, learning is very important because of how volatile Bitcoin market is.
You need knowledge to be able to understand the basic concepts behind Bitcoin, keys and address and lots more; without these knowledges, you will never know the exact way to start and you will easily get scammed due to ignorance, that is why it is very important to learn before you start your investment.

Rockstarguy

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Quote from: Plan well on May 08, 2024, 07:41:11 PM

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

Their is nothing to learn much, all you just need to know before investing bitcoin is to use the right wallet and to know how to secure your wallet, you also need to understand how scammers work because beginners are always target of scammers. Then you also need to understand that investing in Bitcoin does not make one to become rich quick and you should understand that the market is very volatile and you Need to invest only the amount you can afford to lose which you don't need to depend on it to give you profit very fast. If you can understand all this I don't think you will have problems in investing in Bitcoin.

GiftedMAN

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A newbie with zero knowledge will not have a good investment in Bitcoin because Bitcoin investment is not like every other investment where you can just buy and resell your products to make profit you will need to learn when you are to buy and the right time for you to take profits and if you have no knowledge you may find it difficult to create and secure your bitcoin in your wallet, you may find it difficult to secure your seed phrase and lack of knowledge may even lead to loss of funds because a total newbie may be exposed to strangers and scammers who may apper as helpers but at the end they will leave the person empty.

It is risky to invest without adequate knowledge so instead of rushing to be seen as someone who has invested in Bitcoin,you can save your self the money and pay attention to getting a good knowledge on what you need to invest in before ok putting your money. If you know you can keep making research after investing in Bitcoin, that's going to be helpful to if you must invest without knowledge but be ready to accept whatever outcome you get but I will rather go for knowledge first before investment.

Zoomic

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Whether newbie or not, no one should invest in any project they have no knowledge about. Bitcoin sure seems like an interesting investment, especially when we see those that are already successful in it. Bitcoin investment is a high risk investment which no one should enter into it without having prior knowledge of what they are putting themselves and their resources into. Majority of the people who are criticising Bitcoin and claiming Bitcoin caused them great loss instead of gain invested in Bitcoin without really learning about what Bitcoin is really about. They joined the Bitcoin family with very high expectations while failing to pay attention to the other parts of Bitcoin investment that makes it risky.

People should normalize gathering sufficient knowledge about whatever investment they intend to go into, this will go a long way in reducing their risks.

Woodie

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Quote from: Plan well on May 08, 2024, 07:41:11 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

Sounds like you answered this already OP Wink

Aanuoluwatofunmi

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Quote from: Plan well on May 08, 2024, 07:41:11 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

What are you investing when you have no idea on what to do, you're just going to make waste of your time, efforts and money on such investment because you're likely not to make it the right and expected way, we often advice that everyone interested to make investment in crypto as a newbie should first seek for the knowledge at all cost because that will be the first guide against any form of losses they may encounter and in other for them to be able to withstand them.

m2017

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Quote from: Plan well on May 08, 2024, 07:41:11 PM

As on my own opinion alot of newbies have fallen in to hand of scammers

But in my opinion, they fell into the hands of scammers because of their excessive gullibility and lack of foresight.

Quote from: Plan well on May 08, 2024, 07:41:11 PM

because of their insufficient knowledge about Bitcoin

What stopped them from figuring out the basics of buying and storing bitcoin? Google / this forum not working for them?

Quote from: Plan well on May 08, 2024, 07:41:11 PM

so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment

There is nothing complicated about investing in bitcoin that you need to understand: buy low - sell high, remember bear and bull markets, 4-year halving cycles, and otherwise bitcoin shows constant growth in the long term (if briefly describe).

Beginners may have difficulties at first with securely creating a wallet, completing transactions taking into account the favorable fee and the necessary time to process the transaction. That is, those nuances, knowledge about which is gained very quickly with experience, you just have to try and start.

Quote from: Plan well on May 08, 2024, 07:41:11 PM

to avoid been scammed of your hard earnings

To avoid this, remember a simple rule: don't tell / show anyone the seed phrase of your wallets and do not send cryptocurrencies.

Quote from: Plan well on May 08, 2024, 07:41:11 PM

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

In any action, before you start anything, you should understand and figure out how to do it. It’s the same with investments in crypto. Once you have studied the guides on what and how to do (creating a wallet, buying crypt, making a transaction) then you entered the crypto market. It’s just the first step that seems difficult.

Pmalek

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First of all, you should know what you are investing in before putting your money into it. If you don't know anything about Bitcoin, its history, or even the volatility, you will probably be heading towards many surprises in the future. Sure, you can just speculate, and many people do it. But at that time it's more of a gamble. Serious people with serious investments carry out research before they let go of their money.

Skfox

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Quote from: Plan well on May 08, 2024, 07:41:11 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

From what I have read this few days I located the forum I don't think it is proper to initiate any investment without following the due process which is having a proper knowledge for what ever you want to invest in, bitcoin investment and any other investment requires adequate knowledge before choosing to think of investment otherwise the investor will have him self or her self to be blamed because there's no way the person won't lose everything either in the hands of scammers or getting involved in wrong investment.

Op you just answered the question correctly by knowing that it is good to get good knowledge before thinking about purchasing bitcoins so yes for newbies like us, we should learn to get knowledge first before thinking of investing in anything not just bitcoin alone.

Kristiyana

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Making investment before learning? Is totally wrong is only someone who don't know the value of money that will take such risk, well most people will not consider it been risk. is always advisable to learn before making any move you don't have to invest on something you don't even have any idea about, actually I think it happens most time a newbie can decide to invest maybe after experiencing lose that's when he will seek for help from high ranked members.

Adams0001

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Quote from: Yaunfitda on May 09, 2024, 05:29:41 AM

Quote from: Plan well on May 08, 2024, 07:41:11 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

Hmm, from the title itself? like investing on Bitcoin, you can do that in the beginning with little amount and buy to let's say in a exchange. And then try to study and learn it later and see how it goes for you. I mean like buy worth of $50 as your entry level and watch the market and at the same time educating from it. And obviously, the best community is where you are right now. You can either ask questions or just go search as there are a large of knowledge base here in this forum. The problem though with some beginners is that they didn't do the research first, as their questions might have been answered a thousand times already.

but in my on opinion, It is preferable that you understand anything before risking your finances on any investment, because some investments, even if you invest, will not provide a profit if they lack value, and if you do not have a thorough understanding, you will not be able to determine which investments are worthwhile to do. Bitcoin is a good investment for individuals who know about it. If someone invests in it and doesn't know anything about it, I will say he is doing the right thing since I believe in bitcoin and will most likely be lucrative. However, it is better for him to grasp anything about it before he engages in it, so that any problems that come you will not surprise any challenges that comes you can handle that he won't surprise you because you knew is volatile the price is not stable. in investment if you don't have knowledge on the investment you want to start you can't succeed on it and you will lose enough funds that is why you should get better knowledge on something first not to invest before looking for the ides about it.

Russlenat

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Quote from: boyptc on May 08, 2024, 07:55:44 PM

Quote from: Plan well on May 08, 2024, 07:41:11 PM

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

Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.

Don’t be greedy as well, that will only force you to take shortcuts believing that you could end up with quick and huge profits. Instead, follow the process. Make an in-depth research and study. Know your investment well, before you take such risk to invest your hard-earned money. That could be the best way possible in order to avoid too much losses and increase your chances to stay in profits.

Kelward

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Quote from: Plan well on May 08, 2024, 07:41:11 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

You asked a question in the subject and you answered it in the content, I think that you should've either concentrated on a question topic or an advisory topic.

Anyways, going into any investments without first learning atleast the basics of the business will be a very big mistake, whether it's crypto or not, because you can make avoidable mistakes that will cost you so many loses. Many newbies come into the crypto space seeking to make quick money, and they're introduced to shitcoins by either hypes on social media or by ignorant friends, in the end they'll lose all their investment funds, then they'll say that the crypto space is a total scam. Even investment in Bitcoin that is the most reputable cryptocurrency, you still need to understand basic things like the volatile market and know how to protect your wallet seed phrase.

Uhwuchukwu53

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Quote from: Plan well on May 08, 2024, 07:41:11 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

At first place investing on what you have no knowledge apart from BTC or crypto is very dangerous risk I may not only called it risk but foolishness. Making haste is not what give good results but attention to detail, even on skill acquisition you must first learn before establishment of your own, investing can be liken to such is like one going into establishing unknown skill and expect success.

Learning first before investment is a great way of making an outstanding results as result because allot is on any investment without knowing the rudiments you may remain static and incurred numerous losses in the system. Typical example is the scammer issue and market changes.

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