Topic: Considerations Before Investing in Bitcoin - For Beginner (Read 396 times)

There are some excellent points in your list but I don't like the last two:

Number 9, you must be extremely careful doing something like that because out there is full of crypto gurus who say they can predict the market, they know what shitcoins to buy, and other other useless stuff that at the end of the day is just going to cost you money. If you don't know what to do, just hold and be patient, it's the safest tactic.

Number 10, I mean, for real? I don't want to start any discussion about religion but I'm pretty sure there are a ton of people in the world that need more attention and help than your business or your bitcoin investment.

There are many things to consider and gain knowledge to learn about Bitcoin education. If we want to learn about the Bitcoin market, we must learn to analyze it well. First of all we need to learn special analysis about Bitcoin market trends before investing. Gaining experience of Bitcoin's market volatility and when its value will rise and fall. When the Bitcoin market will change it is important to observe these developments and research them in such a way as to profit from them in the future. There are times in the market when investing involves a lot of risk, so having a special understanding of the market and knowing when to invest will be profitable.

You have said very important and instructive things.  Everyone should check these things before investing.  Especially those who are new to cryptocurrencies are basically too worried and start investing without knowing anything.  But later it turns out that they are mainly victims of scams.  Scam projects are increasing day by day in cryptocurrency, newbies are especially interested in these projects. I think newbies should have knowledge on the mentioned topics.Knowledge is essential for investing in any field.  Many people do not understand that investing can be profitable but also comes with a lot of risks.  Everyone thinks they can get rich by investing.

Considering risk is first priority when we do anything. If we ignore risk and put it into bottom of our consideration list, we will have nightmare from our decisions.

Understand about possible risks, volatility of this market, its operational style which are correlated with news usage and manipulation, you at least will have good knowledge and preparation to control your emotion when bad news appear on media.

It does not help you to control your emotion 100% if you read news every day so I barely read news.

Going into a war without having a gun without bullets is really just a like when you do make investment without proper knowledge or analysis into it.This is why it would really be that recommendable that you should really

needing up to learn things which are really needed up for you to learn before proceeding because if not, then you would really be that prone into lots of errors and mistakes which is something that we do really need to avoid in the first place. Most situation on which noobs do learn up this market or about Bitcoin is mostly into those HYIP and other scams which pertain or connecting bitcoin as a payment method which this is my case back into those early years where hyips and ponzis are really that rampant into those year and on my newbie days then i do believe that i could make myself rich in no time until the reality slap
into my face.

that is true, in any type of investment, you need to equip yourself with knowledge. this will give you an advantage if you are in the right or wrong path. also, you need to keep up with the current events so you know if your investment is still relevant with the current market. because better sell off while it has value, rather than holding onto it and later on, it has no more market value. just like most alts. for sure, up until now, a lot are holding worthless coins that were bought when it was still in the peak stage.

Knowledge is indispensable when you decide to invest in any field, not just bitcoin.  but it is not necessary to consult a counselor or consultant, instead you should find out everything and make your own decision.  investing in bitcoin can be highly profitable but also comes with a lot of risks and we should depend on our economic situation.  bitcoin is a risky investment and I don't think all financial advisors will know about it.

I also believe that success comes from luck but let’s not underestimate the power of prayer as everything that we desire to happen will always be possible with prayer. Though people not mentioning it more often because for them it’s all about knowledge, skills, and luck, but all these things will not even work if you forget to pray. So I always encourage everyone, whatever business you are entering into, always say a prayer so that everything that you desire will be granted.

Yes, because investing is more on a passive side while trading is an active activity. There are still long-term traders and then there is also short-term investors. Investing in Bitcoin is I think can also be done not only in the bear market but also in a normal market condition like what we have now. We are still far from the last time's ATH so we are sure that the price can still increase.

Checking our portfolio actively isn't wrong for someone who is already strong enough to withstand the the negativity that is happening around but it may not really be advisable to the newbies whose emotions are still very fragile though being exposed to it can still make them stronger.

Great contribution!! I highlight the point that you indicate about patience since it is essential when you invest in Bitcoin or even in any investment, the simple fact that you do not let yourself be influenced and do not let yourself be alarmed is key, if you are clear and have carried out an exhaustive study on the upcoming movements of your investment, you will not have to worry, of course, investing in anything does not guarantee anything, you must not believe that an investment can make you rich overnight... like everything in life and like in any other business we must act in the most effective way. Investing in Bitcoin I consider it one of the best investments that can be made today, observing its historical behavior you realize that, but from my point of view patience will always be better and a long-term investment with BItcoin.

3. Managing Risk

This should really be your first priority because since Bitcoin involvement is really that pertaining about investment then it would really be having that certain risks on which means
that you should really know on how to manage up risks because on the time that you've been that wary about your actions then this is where you would really be doing
those normal stuff like making up some research and then you would really be making some indepth decisioning whether it would really be worth or not.
On the time that you would really be that mindful about on every step you would make then you would really be that mindful about your emotions as well or the entire
things if you have just started out with this single thing and everything would come in line naturally.

This is a very good topic that can guide new beginners in Bitcoin business, and you have said it all from beginning to the end, which is very true and Before investing in cryptocurrency, Bitcoin precisely you need to have the knowledge and also have a mentor or consultant if you really want to go far in Bitcoin business.

For beginners the topic you created is very helpful for them to invest in Bitcoin, because some of the beginners are too ambitious to feel big profits but they do not know how to invest in Bitcoin, actually there are many things that we have to learn and I think everything is complete as you have explained, although some investments buy when it decreases and sell when there is an increase without analyzing the movement of Bitcoin, And this I don't think is right because the risk of investing in Bitcoin is very large so we must be prepared to face bad situations.

I found some interesting pointers that are in the OP that I think kind of get mixed up or never get differentiated between trading and investing especially when it comes to beginners🤔

• Analyzing the Market
• Managing Risk
• Consider Bitcoin Volatility
• Find a Mentor or Consultant

By no means am I saying we can't use trading strategies to your investing techniques  ,but as a beginner  don't you think a simple buy your bircoins and forget about them should be the best approach without having to shower the new guys on the block with all this information needed to get them started...honestly if this is what I was told to do before investing in crypto, I would run and never look back!!

If Bitcoin is to look attractive to beginners I think let's start with baby steps, like best security to consider, how to know if a platform is legit, know how to send and receive your bitcoins and apply the right fees without sending all your coins to the miner's because the BTC number looks tiny when in reality you have sent a couple of thousands of BTC...

At least We need a friend that could help us to develop or getting knowledges from him/her. By the way, for reference you can look at this site that maybe could help us to get a consultant (for business or individuals provided ) : https://ninjapromo.io/top-10-crypto-consulting-services

Keep Dwyor, do research, and Improve our knowledges for better experiences.

Yes, in all fields you will never be separated from the name of risk, no matter how great the strategy you prepare will not prevent you from the name of loss, but it is useful to at least reduce the level of risk of a loss. True, one of the most important factors for success is to make mistakes as experience and reference material. There are many cases where beginners are too comfortable with market situations that may seem friendly to them, without them realizing that the nature of the market will continue to change over time. Most beginners will be stuck in this position, they apply strategy A in a market that is trending B.


Bitcoin is indeed very promising and patience is a very important point in this field, I really feel when I have to be patient waiting for the right moment when I want to start trading. The patience factor is one's successful weapon for success in investing. As soon as we are negligent by prioritizing lust because we are impatient, we will fall into the error of making decisions.

I and none of my friends and those I am going to teach about Cryptocurrency will not recommend this why would you spend money and why would you allow people to create personalized guidance, it's you that needs to set up this one, this is laziness remember you are your own bank, you don't want other people to meddle how you set up your bank you just read watch and apply what you read and watch and the best things everything is free, Satoshi gave it to us free and he expects that we learn his teaching and apply it.

Better omit that number 9 it's not good to consider and check other members' posts they too do not agree on point number 9.

I've taken enough time to mappednout solid plans that would be beneficial for me in the market,  although I do record losses when my plans doesn't work out, but that doesn't mean I should back down, giving in all I got for the better future that lies ahead. Beginners should always enlighten their mind on the market glitch, never to get too comfortable with the market situation. Bitcoin is a prominent project and that's exactly what most investors care about, nothing more. As long as their port folio keeps printing profits on daily basis, they're absolutely stress-free with good backup in the space.

I also expect to see some common investment rules, like "don't invest what you cannot risk losing." You know, often times people make the mistake of taking all their life savings to invest in something that they have not tried before, and when things don't work out like they have planned, it becomes a challenging situation for them. There was a thread I came across last month when someone introduced his friend to Bitcoin without letting them know everything that was involved. So, the guy took out a lot of money from his yam business to invest in Bitcoin, thinking it was just something he could make profit from in a month or two, but it did not go as planned, and he started to blame the friend that introduced him to Bitcoin.

The guy was regretting why he Invested in Bitcoin with his business money when he could have used the money to carry on in his business and even make enough profit within those two months. There is no investment that doesn't have risk, but what matters is how you manage your risk so that it doesn't have some psychological effect on you if the investment doesn't work out as planned. That's the reason people should only invest what they can afford to lose.

Also, I think every Bitcoin investor should know that unless they sell their coin cheaply below what they Invested, that's only why they incur losses, but if they hold their Bitcoin, they have not lost anything because definitely the bull market will come and they will make their profit.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Thanks really appreciate. Yeah I do agree with you that We should not use Artificial Intelligence tools because, not only Lazy (don't want put any hard work) but also AI Tools make us lack of knowledge and self-development.


A mentor could be our friend that has more knowledge or smarter than us, so We can get more informations and guidances from him/her, so We can trust him/her. Regarding to Prayer, it is individual for spiritual side as I said.


Yeah it is bitcoin oriented but this are basically just tips for beginners and there are most of them that limit their selfs to just that board. Also for orderliness it is best they are there

Yes I also agree with your suggestion and opinion, but at least We need a friend who has more experience than us, and this forum could be our platform to enrich our knowledges and experiences.

Yes, because the patience is the key for investment.

The spiritual side is needed when we want to start something, and if in the future we experience unwanted things, we can get good healing from the spiritual side.


Smart investor not put their money in one basket, because it is too risky. Mentor is a must, because We know that there are always smarter people than us, and the fun fact is, this Forum is really great to get more informations; to do research and find a knowledge, and also the forum Member, I really love how the Senior Member in this forum provided their experiences to us, it's really helpful to get involved in this forum.

I really agree with you @robattfield, Spiritual way always needed to be part of our life as Individual. I believe that the law of attraction is really works for my self, and the Pray really helpful for everything, even when I loses in investment.

I don't want to separate the number list actually, because it is one in unity as I said before, it is interconnected and complementary.


Yes, the topics above are just the outer crust, for more details, newbies need to learn more in this forum for more details, because this forum is full of the information needed, and even better, the information sectors have been divided into several boards, and that is very helpful.

Yes, the spiritual side is needed, one of which is for the law of attraction as it is
@Robatfield said.

Thanks for your opinion @ImThour, it really makes me confident in my writing abilities, and I think I need to improve some too. Regarding to Pray, yeah We know that there is no certainty in this world, So I think nothing wrong if We do Pray or Prayer. Prayer really helps us when we experience loss, but if we experience gains, it certainly makes us more grateful.

There is no need to doubt investing in Bitcoin, it's just that we need a lot of patience, because you can't get profits in the near future. from that, Patience is the key.