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.

You have done excellent with this thread, it'll help many newbies thinking about investing in Bitcoin. I also want to add that there should be no rushing when you want to invest in Bitcoin. If you're not ready don't invest, if you don't have the capital yet don't invest. Don't borrow money to invest in Bitcoin or taking out loans as it could end up badly due to the market been very volatile and causing you to lose your investment due to fear.

Investing in Bitcoin should be something you're ready for and willing to keep holding your Bitcoin in the midst of every fud that'll comes. After investing in Bitcoin, don't trade, trading is the quickest way to lose your Bitcoin. Meanwhile holding is the best way to invest in Bitcoin.

For newbies? I still think they would be investing more to Bitcoin rather than altcoin especially because Bitcoin has a large popularity and since they are just new, How come they will be aware of altcoins. I'd only agree if the newbie has his/her own knowledge of this industry, they might consider investing to altcoins simply because they'd have aan impression that its market value isn't that big and that it has a high tendency to make a price increase as project develops. To some newbies on the other hand, they think investing to altcoins as whole quantities (50 SHIB perhaps) is somewhat the same with buying 1 Btc however not all coins have the same market price movenent so definitely they're different.

Yes, purchasing Bitcoin during a bear market is always the greatest time to invest if you want to make good returns on your investment in bitcoin,buy low and sell when the price is high.Although it is possible to invest in Bitcoin and earn a profit at any moment, even when the price is high, the best course of action is to be prepared to hang onto your Bitcoin for an extended period of time in order to benefit from bull runs.

Therefore, in order to avoid experiencing too much dejection as a result of the ongoing decline in the price of bitcoin, beginners should only invest in bear markets. They should avoid trying to do so when the price of bitcoin is high because if a bear market develop, someone may start to panic and may end up selling at a loss if the market turns low.

fathafraink - nice effort on this topic. But are you sure your topic can reach more beginners on bitcoin discussion boards?

If you were me - then maybe I would move this topic to the Beginner and Help boards, there you will reach a lot of beginners instead of on this one. Anyway your topic is already very common for many experienced users in bitcoin discussion - so consider my advice.

When it comes to bitcoin investing, everyone should still stick to the basic, buy low and sell high. You will never be at a loss if you are patient enough to stick on the rules. However, newbies these days follow their own rules instead. They enter when the market is high and bullish, and even invest at a bigger budget hoping that will be doubled or tripled in an instant. And so they end up losing when the market experiences recession. That’s why if we can just follow what is basic, then no need to make a twist on it.

Newcomers have a tendency to invest in altcoins rather than bitcoins. They might think that to be profitable on bitcoin 2x - 4x it would take billions of dollars to move the market. I got that assumption from several friends, of course sometimes I can't force them to agree with what I believe, so that's a choice. Basically they have to have a high interest in learning in order to discover the fact that altcoins sometimes just become a trap for them. The desire to get rich quick is what many altcoin investors have, but we must not discriminate against their choices.

People who believe in God must do this. Although they don't discuss it, doesn't mean they don't do it. I believe that praying is a part of the success, so it is also an important thing to do. We can make a plan and choose the best coins, but we can fail to take profits if the God gives no chance. How if we get sick and have no opportunity to manage our coins? It is very possible to fail if the God doesn't allow it. 

Luck is a part of the efforts. No luck if we don't do anything. Even God won't give the success if we are lazy people.

While these points may not be groundbreaking, they are essential to consider before investing in Bitcoin. It's important to recognize that Bitcoin is not a get-rich-quick scheme. However, with sufficient patience, it is possible to earn money through Bitcoin investments. Newcomers should dedicate time to learning before making investment decisions related to Bitcoin. Otherwise, they may end up regretting their Bitcoin investments.

From exchange wallet, wait, what do you mean?
Avoid storing high amounts of your bitcoin on exchanges as you essentially don't have custody of them. If that's what you mean, then it shouldn't be a good guide for beginners. Beginners should be aware that exchange wallets are not safe for storing their assets in the long term, even if you enable 2FA.

Ideally this is the basis before deciding to invest or not. because by having sufficient knowledge regarding Bitcoin, we will understand more about anything related to Bitcoin specifically and Cryptocurrency business in general and thoroughly. And with this understanding, it is hoped that newbies will really understand about investing in Bitcoin, which is not an instant way to get rich quickly. This is the initial capital of knowledge about Bitcoin. Because so far there are many newbies who expect to get rich quickly through Bitcoin. This is a wrong understanding.

In addition to having good knowledge, this will reduce the possibility of becoming a victim of scammers who always lure lots of money but in fact they are fraudsters or scammers who only want our money. This is also related to other security that needs to be considered very carefully.

You know it’s fine if you have a friend that is knowledgeable about bitcoin and who’s willing to guide you in your bitcoin investment. But if you have none, then that is not a problem. You will gain a lot of friends in the forum and will give you trustworthy advices that you literally need to start investing in bitcoin. With that, you don’t need to go searching for a good mentor, the members in the forum can act as your reputable mentors and give you valuable ideas and insights so you can invest in bitcoin and be successful in the future.

This might be funny for some but a life saver for many.  Although this does not affect the market movement of Bitcoin it does affect the person.  Praying gives hope for the believer.  With hope the person can exercise patient since they believe that if they waited enough their prayers will be answered.

All the list are pretty much very important when engaging a Bitcoin invest but it will be a breeze if a person investing into Bitcoin have enough source of fund to support himself all through out the investment period so that he won't have to sell his investment prematurely.

Your point is true and correct but in addition, one needs to ask and answer some questions about the amount you want to invest and the number of years you plan to invest and make sure you yield to it no matter the volatility fear one encounters.

You don’t need actually to find a mentor and pay for it. The bitcointalk forum is open for everyone and is a perfect avenue to know everything about bitcoin investing. If you want to know how to invest in bitcoin and how to make it work and be profitable, just study and learn from the experiences of the other members who have investing in bitcoin for a long time. No need to hire a mentor or consultant as you would end up trusting  a scammer acting like he’s a professional investor when all he’s into is your money and then he’ll vanish like a thin air.

Bitcoin is best currency for invest either new or experienced people. If anyone buy bitcoin in deep he will must benefited today or tomorrow. If after buy bitcoin price decrease no tension don’t see you account Again and Again. After some times price will back. And bitcoin is best currency for beginner to invest. Beginners don’t know what is good and what is bad coin for investment. Because anyone can invest on bitcoin. I think it is very safe.

Great post, I love those who prefer formatting it a bit with bold and italics, makes the post more detailed. Each and every point you mentioned to consider before investing in Bitcoin can also be applied to any investment asset in the whole world rather it be Tomatoes or Gold or anything. You should never spend your money on something which you don't know nothing about.

The only thing which was funny in the whole post was "Pray". I mean it's your calculation and your luck, no one can do anything for you

Interestingly, you mention this factor, even though bitcoin is an investment, and to be successful and profit from it, we need to combine many elements as you have provided. But I wonder how many people are believing and doing this? I don't think many people will do this because I don't often see people talking about it, but I believe in it and call it luck. For me, there is no success without luck, even if you prepare well the above 9 factors without luck, you cannot succeed with bitcoin.

Everyone who is new to investing in Bitcoin should do enough study on the above topics. Because the topics discussed are very informative for a new member. Before engaging in investment one should have adequate understanding about investment and then engage in investment. There is risk in investment but we should not invest if we cannot accept that risk. Then there is patience. Patience is very important for beginners especially when it comes to investing. Because if the market goes down a bit after investing the newbies and if they lose a bit of money then they should be patient enough during that time.  Because without sufficient patience it is impossible to succeed in investing. So it is very necessary for a new member to know about the above points.

Focus more on number 1 because studying Bitcoin more deeply will provide a lot of knowledge to decide when we can buy Bitcoin. Everything depends on number 1, while number 3 reduces the possible risks by setting limits that we can afford.

Market analysis is included in section number 1 because studying Bitcoin more deeply will include studying market analysis so that we can get a good time to enter the market. And then, we can determine how much money we want to use to buy Bitcoin.

Carrying out security are ways that we need to pay attention to after we have successfully bought Bitcoins and don't keep the Bitcoins in exchanges. It's better to immediately move the Bitcoin to a personal wallet we can fully control. I agree with all the steps; everyone should follow them to benefit from Bitcoin.

I want to share this with everyone, it may or may not be helpful but I have done it before and it has also brought many changes in my life. Do not want to discuss too deeply the issue of religion, but we must accept the fact that a visible law is the law of attraction, the more you think towards positive issues, the more comfortable your life will be. I once heard a story by a comedian Steve Harvey, the story said that you don't have it because you haven't asked and haven't asked for it from God, just ask and ask for everything from God, just simple so simple. And as my limited understanding, even those who do not believe in religion, always think big and be useful for yourself as well as everyone around (including the life around us).

OP you have actually stated the fact that most must be put in consideration before investing as a beginner, so in addition is always advisable not to put everything you have on investment, is always good as a beginners to have someone that would mentor them show to show them how investment works, and also doing more research on there own as such making them more knowledgeable.

As a beginner I believe is unwise to have numerous mentor to avoid information overload, were as you could get confused different mentor,

OP, this is a good information that you have given to those who rush into bitcoin investment without knowing what it takes to invest. Newbies should have all these in their mind that you stated above.

Prayer is good but not in bitcoin investment,because your prayer cannot change anything about the price or will it influence the price. That is why you should only invest with money that you can avoid to lose,this will enable you not bother if the market goes down. You should also study about the technical analysis and fundamental analysis so that you wouldn't panic and sell off,when bitcoin price is dumping. You don't need a bitcoin mentor as long as you are in this forum,you can know whatever that is needful here.

Do we have to and do we need to, I wonder who did this just to learn how to invest in Cryptocurrency, all the available materials are here, the internet is the information highway you just need to be patient and persevere to learn if you don't have these two traits no financial advisor and investment professional can help you learn how to invest properly.
Security and the many scam schemes are two of the things that these so-called financial advisors cannot teach you, you have to learn from your co-investors and from your experience, so instead of investing money for consultants invest in your time and yourself.

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

Good write up OP!!! I am happy when I see members that put in effort to come up with a post. These posts might not be perfect but somebody might learn something new. At least they are better than people that use artificial intelligence tools because they don't want to put in any hard work.

This point might relate to only Bitcoin traders and short-time hodlers because longtime hodlers don't consider government policies or regulations because they are core Bitcoin believers. There is some set of persons that believe in Bitcoin that they have decided to go up or down with Bitcoin. I am sorry to differ on this point because I have no plan of selling until I get to my long-term targets.



It is now becoming a problem in the Bitcoin space. The recent hack of Atomic Wallet a well-known non-custodian wallet changed my perception of security. Now we have to consider if the wallet is a decentralized, open-sourced, and air-gapped wallet.



Don't be greedy, avoid shitcoin, and protect your wallet. People are easily attracted to the profit margin of investing in shitcoin and they suddenly become prey to scams.


I always believe that a supernatural being controls the universe. People might differ in this fact but that's my belief. We pray to Him and do our best.

I got your point, Yeah I agree with you that this forum is really helpful by helping us in the open, even get some point of views.


Yeah, but someone who has belief should be believe that pray will be helpful for their journey ( in spiritual way ). 



I understand your point, however, the ordered list is not as reference, because, everything is one in unity.


Yeah, @Z-tight also Said about this, and I do agree with him/her, here is :

Number 10 though, Lol,  . Not sure if prayers are going to help with our investment. As a beginner, you don't have to complicated things in my opinion. As for my experience, I initially started to learn different kinds of wallet and how to protect and secure then. After that few sats on my wallet and that's it. As time goes by, you will learn the intricate "beauty" of being a Bitcoin investor. But for beginners, you can't simply swallow everything, the information might overload you so you just have to take time to understand and just learn the basics, like wallet, bitcoin addresses, private keys and others just to get you started.

If I was you, I will move point #5 to either the 2nd or 3rd position. Because safety of your bitcoin is most important, if it is safe, you will at least won't lose your coins and your capital. Safety and Security should come together.

• How is the 21 Million Bitcoin Cap Defined and Enforced?
• How many Bitcoin confirmations is enough?
• Security checklist
• Choosing your wallet
• Securing your wallet

Overall, this is the most crucial part as I see and I won't even suggest to the beginner to have it.

Why?
Because this might lead to a scam if you don't know or you found a mentor over the internet, we shouldn't trust strange people offering a service like this.  Because IMO, we should trust no one ourselves in protecting our valuable asset.  So if ever you'll choose a mentor, ensure they have a reputable track record in the cryptocurrency space.  Research their background, experience, and credentials before making a decision because as I said, it's crucial to work with someone who has a strong understanding of Bitcoin and can offer reliable advice, it's prone to be a scam.

If you were introduced to BTC by someone you know, then that person can teach you some of the things you need to know, but if you found out about BTC yourself, you don't have to go in search of a private mentor, it is risky and you can be scammed. You'll find people with more knowledge and experience about BTC in forums like Bitcointalk, so that's why i advice that it is better you join forums like this and talk about BTC in the open with everyone.

I was think to give this topic to Beginners, But I think again that the beginners often to visit the Bitcoin Discussion (Maybe) because I think it's also interested to visit Bitcoin Discussion and people often to give their topics. Yes, Scammers are so annoying, especially for the beginners, Once I was scammed by a project ( Their token is CEX or Catena X ) in the beginning they offer best roadmap and usecases, I believe it and try to Invest by buying the tokens and because of they also reveal their team faces, but Finally their faces were known generated by Artificial Intelligence ( Correct Me If I Wrong ).



Basically someone who wants to invest in bitcoin, of course, already has a source of income, and I suggest not using hot money (not cold money) which means hot money is money that is important in the near future, while cold money is money that is not important in the near future.


At least, We need a friend who has more knowledge or experiences in Bitcoin or Cryptocurrency, So We can get a point of view. Remember that If We think We are Smart, There will be smarter or smartest people than us, also applies to experience.


Yes that is the point of Number 8. Stay Be Patient

As a beginner in bitcoin, you have to put in many factors i to consideration knowing well that bitcoin has it own risk, task and demands, so when you have done well in keeping all the aforementioned cautions in mind, do endeavors to know how you can avoid possible attempts to scam you, know the kind of wallet you will be using as a bitcoiner, decides not to remain being relax but rather always be at alert against anything that may cost you lost, always get updated, stay online and keep to learning each day to know more about bitcoin network.

OP, it is nice you took out time to write this little article to help newbies here. This would guide them a bit about the system and how it evolves but I think this is not the right place for such post. You can move it to beginners and help board here so that newbies can see it and ask questions if the need be.

OP I believe this write up was culled out from somewhere. Why not put the source for us willing to do further research and findings as regards this topic matter so we can widen our intellectual horizons further.

Haha, it seems more likely a bitcoin trading guide-based market analysis and the stuff is referring to the trading view. Volatility is not a big deal for those who know Bitcoin's potential and are interested in using Bitcoin as a store of value or medium of exchange. Op you are guiding the new ones from the view of bitcoin as a trading pair not as an asset and store of value.

People should prefer learning and educating themself about Bitcoin fundamentals, Scalability, Decentralization, and other basic features, after that, they need to plan their investment strategy according to the market cycle. That's it and believe me if a person made a wrong time entry in Bitcoin there is nothing to worry just be patient, the market will make a recovery and bring some profits with it for you.

I don't think that prayer will work for Bitcoin because faith in Bitcoin and faith in any religious beliefs are far apart from each other. Even if a person performs his/her payers regularly there is still no chance that anything will change in the world of Bitcoin. Although faith is important in life you should have faith in Bitcoin that it will grow very high in value, and I'm sorry but worship can prayers doesn't affect the price of Bitcoin.


That's a very important thing to consider when you are investing in Bitcoin because if you don't manage your money then you can be in risk of devaluing your investment. Everyone knows that Bitcoin and crypto-market is highly volatile, and if someone invests a lot of money into Bitcoin without accepting the fact that it can go down in value sometimes then the user is at a huge risk of devaluing his/her capital for many months. However, I still believe that anyone who invests in Bitcoin will be on safe side if he/she is holding the investment for a long term.

I guess this your topic belong to beginners platform OP, well, you make a good points that will help beginners to grow in every area of their digital investment, so that they will have reason to make a good choice in their investment. Scammers are everywhere, they can be your father, mother, brothers, sisters, relative and friends which they will not show up their identity so that you will not recognize them when they are operating in that evil way. Try your best to avoid free offer in the community which is the easiest way scammers use to attract beginners in their investment, and they will fall victims by the things they received without carry out their personal research. Any investment required patient, which beginners need to apply that mood so that they will be able to succeed and maintain good result in cryptocurrency investment.

One important piece of advice for all crypto investors is still missing here, I have seen this to be one of the major mistakes that most crypto beginners do.

Do not embark on this crypto investment journey unless you have good source of income, some investors called themselves investors but they are not behaving like one, they can't afford to invest, yet they go into investment with all they have, and along the way, they face some problems and the only solution left for them is the money they invested before.

Such people shouldn't even think about investing at all, because they are not fit for the investment.

There is nothing new to read or discuss here, BTC is just like other risky assets that you have to do your own research before buying, it has been said and discussed so many times.
DIY, every information you need about BTC is on the internet, and if you want to discuss about BTC join a BTC discussion forum like Bitcointalk and talk about it in the open, you may be scammed if you talk to stragers privately about BTC, especially if you are a newcomer and do not know what you are doing.

If you invest, do you know that there is no liquidation like trading? If you want to invest in bitcoin, wait for bear market and invest. Do not check your bitcoin if the price is decreasing, it will only lead to emotion and selling at loss. But if the price fall, leave your bitcoin alone until the price increase and you gain from it.

Not a few beginners in the world of Bitcoin or Crypto just jump right in by investing in Bitcoin without learning or finding out in advance what needs to be learned for consideration before investing in Bitcoin, so because of that, Before investing in Bitcoin, it is important to know some considerations :

1. Learn about Bitcoin
   - Take your time to understand how Bitcoin works, its underlying technology (blockchain), and its potential risks and rewards. Also learn about wallets (where Bitcoins are stored), where and how to exchange them, the necessary measures for wallet security and the best way to store and manage cryptocurrencies.

2. Consider Bitcoin Volatility
   - Bitcoin is well known by people with its price volatility, which means that its value can experience a significant increase or decrease in price in a relatively short period of time. From that, you should be prepared for rapid price changes and potential losses, and of course we expect profits.

3. Managing Risk
   - You need to assess your risk tolerance and financial situation before investing in Bitcoin. Consider how much you are willing to invest and how deep the losses will be, as well as the impact on your overall investment portfolio.

4. Analyzing the Market
   - Keeping track of market trends and the latest news regarding Bitcoin, what you need to analyze are factors such as market sentiment, regulatory changes, and technological advances that can affect the price of Bitcoin.

5. Carry out Security
   - Protect Your Bitcoins by implementing strong security measures. You can use a well-known wallet like Electrum, and you can also use a wallet from a well-known exchange and need to enable two-factor authentication.

6. Beware of Scam or Fraud
   - Be wary of fraudulent schemes, phishing attempts which are usually fake or imitation sites, and sweet promises that promise quick profits which make no sense. Do due diligence and verify the credibility and legitimacy of any investment platform or offer before participating.

7. Understand Your Country Rules
    - Understand the regulations governing Bitcoin in your jurisdiction. Regulations vary from country to country, and can affect the legality, taxation, and use of Bitcoin or Cryptocurrencies.

8. Stay Be Patient
   - Bitcoin is a long term investment and should be approached with a patient mindset and heart. The rapid ups and downs of Bitcoin's price should not encourage hasty decision making. From that you need to consider the potential for growth and adoption in the long term.

9. Find a Mentor or Consultant
    - Consider consulting a financial advisor or investment professional with expertise in cryptocurrencies. They can provide personalized guidance based on your personal circumstances and goals. Of course for this, you need to consider spending more money for consultations.

10. Pray
    - If you are a person who has faith or belief, prayer is the most important part of doing any business, therefore you need to do worship like praying.




- Beginners should take the time to learn about Bitcoin, its underlying technology, and how to store and manage cryptocurrencies securely.
- You should also be aware of Bitcoin's volatility and be prepared for potential price fluctuations and risks.
- It is crucial to assess one's risk tolerance and financial situation before investing and to stay updated on market trends and news that may impact Bitcoin's price.
- Implementing strong security measures is essential to protect one's investments from scams and fraud.
- Understanding the regulations governing Bitcoin in one's country is important.
- Bitcoin should be approached as a long-term investment, and it may be beneficial to seek guidance from a financial advisor or consultant with expertise in cryptocurrencies.
- Individuals who have faith or belief, prayer can be an important aspect of any business endeavor.



Note : Remember, investing in Bitcoin carries risks, and it is very important to make a decision based on thorough research, a clear understanding of the risks involved, and your own financial situation.