Topic: Don't Know, But Can i Invest In Bitcoin? - page 2. (Read 710 times)

It's a good thing you already have the willingness to invest in Bitcoin but I won't recommend you drive into investing right away without knowing what you're investing into. You need to know what Bitcoin is so you'll comfortable when the price are fluctuating due to the volatility of the market and not to start panicking thinking you got yourself into a wrong investment. Bitcoin is a digital currency and a highly volatile one for that matter so the price is near stable. Dedicate your time to learning about Bitcoin by staying active on the forums especially the Bitcoin discussion section so you get useful information on how the industry is. You can also use other resources that I believe have been suggested to you to know more about Bitcoin.


Never you make investment based on the suggestion of others no matter how experienced you think they're, they might be giving you suggestions based on their own strength but as a newbie you don't have their level of patience to hodl or extra money to handle things to make you avoid selling your Bitcoin when things get tough. You have to understand how to secure your wallet before you buy Bitcoin, you need to know which wallet is best to use so you don't regret your decision when it's time to sell and you can find the Bitcoin you stored because they have been stolen by hackers. You also don't need to invest all your money at the same time, you can DCA while you keep learning about Bitcoin.

Specifically, you need to understand everything about bitcoin before you begin your journey on it because if you don't understand anything about bitcoin, if you invest in it, the market will likely favor you and you will profit, but if the market doesn't go well and you start losing your funds, you won't be happy and you will start complaining about bitcoin being a scam because you didn't get enough knowledge on it before you started, and how you said is your friend that introduce you to invest in bitcoin I believe he has accomplished something on it, and I am confident he understands a great deal about it and he likes to introduce you to get money on it, that your friend is a nice person but what I will like you to do now is that you should recognize everything about bitcoin don't rely on your friend that he will be guiding you anytime just be researching by yourself and understand the systems very well so that he can minimize your risk.

Yeah, it's a good thing that his friend or acquaintance suggested bitcoin to him or introduced bitcoin to him, but the thing is, what the guy did was give misleading information or knowledge. Yes, bitcoin can be profitable; I say can be profitable because you can't just invest and expect that you will earn from it; your friend didn't even mention what kind of investment you will make. There are a lot of ways to invest and earn in bitcoin, whether it be by holding assets, trading, crypto currency projects, bitcoin projects, or bitcoin projects, and many more.

There are a lot of ways to earn in bitcoin; what matters is, how will you invest in it? Of course, I know you know that you will need to invest time and effort, because it will take a while before you can fully grasp anything about bitcoin, and it will require your patience and effort. Of course, you will make an effort to study and gather knowledge that could help you in your bitcoin investment. Anyway, it's up to you on how you will earn in this field. That's why this forum exists: you can ask and gather all the necessary knowledge you need.

The person who gave you the information about Bitcoin is sure to give you the right information because if you invest in Bitcoin, you will profit from it. Since you don't have much idea about Bitcoin, you need to know a lot about Bitcoin as a newbie and have knowledge because if you don't know about Bitcoin, you won't be able to progress much. In Bitcoin, you are new to investing in Bitcoin by having a long term plan with patience and checking the market. Bitcoin Risk You have to invest in Bitcoin with that risk. If you invest patiently and check the market one day you will be successful with Bitcoin.

Mr. OP if you don't have knowledge about bitcoin then you don't get involved in investment in the beginning, rather you give time to bitcoin. When you have good knowledge and analysis of science, then definitely invest, but you will profit. Moreover, if you go to invest without analyzing the market position at the beginning, you may fall into the losers, and you may get emotional when the volatility starts in the market. And if you can invest $500 dollars now and keep it for a long time, then surely you will be able to earn enough profit from here. But you have to remember that there are times when market volatility starts, and you have to patiently save your bitcoins so that you can get high profit from them after a long time. You are new user, but you must invest Bitcoin and hold it till ATH and you use DCA, it will help you avoid loss.

it is a piece of good advice given for you to invest in Bitcoin but do you know about it don't just hear and rush to invest because he told you about making a profit the suggestion to invest is good but have an idea about what you are investing in aside losing money they person bring you into the business can rip you of some amount but because of that knowledge you will be a don in the business your self that is the power of knowing what you are investing in, so if you are still interested you should start investing.

the only people who have regret are those who have broken one of the rules and that is when anyone will complain not if the necessary things are done, it will be difficult for anyone to just lose their money just like that, people are always lazy when they tell them to learn before investing but they don't see it to be important, that was my reply to how would you just pick your money and start investing even if they said there will be profits if its a Ponzi and as far as you don't have knowledge anything that happens to your funds, nobody will be blamed. nobody should be trusted the fact that the person has access to a private game is another risk on its own.

any information that has to do with your crypto account needs to be private and should be well protected by the holder,  friend gave a good advice but security and safety are something to be concerned about, if he ends up buying he should hold.

Once OP knows this, I think it's safe to say that it's the worst thing that OP can do because you don't know how some people's minds work, some might be trustworthy and those trustworthy people are too few and hard to find. It's actually nice that you've added that they should also read about loses because I do think that's the best way to learn about mistakes that you might not afford to make.

As long as you can take a risk like how much are you willing to spend just to have a ride with this market investment, like your friend said you are willing to lose, if you think you just want to try and getting afraid with the 500$ you can take a 100$ or less its up to you so you can test it out if this market or crypto itself is suitable to you or not, time goes by you will learn a lot from your experience or even experience of other people here. Bitcoin is the most ideal for beginners and if you want to take another step altcoin is.



In this part I doubt, don't let anyone have your wallet and manage your money, let yourself make decisions not them and even your known person once they see a big amount of money anything can happen. Don't trust anyone in terms of having your wallet.

You will never regret investing in Bitcoin. But first, you should learn about Bitcoin, how to open and handle your wallets and how the investment in it works. Not that you will just start investing in what you do not understand simply because a friend told you to do so. Mind you, it is a very risky affair if you allow your friend to open your wallet for you, the risk is high and he could steal your money in the future if he so desires. This is one of the mistakes that people make but will be crying foul later. Bitcoin and any online assets are yours and yours alone, you should be the one to keep it and know all the accesses to it, and not a third party, not even your family member.

Fine the friend has done his part to introduce you to Bitcoin, you should do your part to learn and it and know the dos and don'ts about it. By this, you will know how to own your wallet by yourself, make a deposit and withdrawals as the case may be, and also store your coins safely.

I repeat, don't ever let your friend open your wallet for you, nor let anyone know your access keys and codes.

I'm glad to welcome you here my fellow newbie.
First of all, Bitcoin is the first decentralized cryptocurrency whose main attribute is unpredictable, uncertain, volatile, vulnerable and amongst others. Having this at the back of your head in tells that everything concerning Bitcoin is risk. Bitcoin has made people, Bitcoin has as well recked people. It is extremely profitable when you understand the nooks and crannies of the market, on the other hand
you'll experience greatest loss when you have little or no knowledge about the market thereby relying on your friends for guidance. Make extensive research before investing a dime to this kinda market. Its a two edge sword.

First of all, welcome to the forum, Op. Your friend is not mistaken to tell you that investing in bitcoin is profitable, but I want you to understand that this is not a quick way to make money, because some people think bitcoin is a easier way to make money, instead, you will need to be patient. Investing in bitcoin carries a certain level of risk, but it's not a risk that you will lose all of your money. Example if you hold bitcoin and the price drops, don't be afraid and sell, you won't lose any money, if the price drops, it will eventually rise again, no what time it take. Don't allow anyone fool you into thinking that you can lose all of your money in bitcoin, you can only make profit.

When it comes to investing, it's not a bad idea to start with $500 or any other amount you can afford. However, you should never use money you borrowed or that you may need in the near future. If a friend opens a bitcoin wallet for you, you should keep it secure, trust no one but yourself, and ensure that your information is safe with you. Follow all this advise given to you, it will guide you.

you should not believe in anyone but your self instead ask here for all the instead believe in your self , and also guiding is this forum expertise so you are in good hands , never believe  in any suggestion that you don't completely understand mate.,because if you lose? you lose alone.

Good to see you here. I would say this is a pretty good start. I like it when I see people do not get convinced just by a few words from their friends and they like to know more. They come to the forum for research purposes at the end. As I can see, you have got a lot of suggestions regarding what you should do before you invest and how much you should invest. But I would like to say something about what not to do.

Do not play with your Bitcoin. Crypto newbies used to try to double up their investment. They try Bitcoin doubler websites, they try pyramid scheme scams, and casinos as well. Do not do this with your investment. Never install software from unknown sources. do not keep your funds on exchanges. Do not share your seed phrase with anyone.

Don't invest blindly without knowing or understanding what Bitcoin is. I am sure that you just want to invest because of the big return that your friend told you, but you didn't notice that your money is also at risk and has a high chance of losing it because of your lack of proper knowledge and probably emotions. What I suggest to you is that you learn Bitcoin first. Watch a couple of videos on YouTube and learn it before jumping to a conclusion on investing directly.

No doubt that person gave you good advice to invest in Bitcoin. But since you don't know about this, you should know first. Also, you need to know how to keep your bitcoins with your own self. Here one should not rely only on faith. Because Bitcoin can be risky when it becomes a big asset after a long time. Although your $500 may not be a big investment, it can definitely turn into a big asset over the next 5 years or more. You can also grow your portfolio even more when you learn how to buy bitcoins on by your self. Learn About Bitcoin Regularly Hopefully you'll have your basic knowledge of Bitcoin in the shortest possible of time.

Yes the thing mate, the guy who told you about Bitcoin may have only mentioned good things about Bitcoin. But the journey is not as smooth as you may have thought. There will come times when your patience will be tested and if you fail in that test you might end up losing rather than make me a profit. Don't get me wrong, that guy is not saying the lie instead he is saying it out of his own experience. Maybe he is good at it that's what he is making a profit but you being a newbie to this could lead you to losses.

So the best approach should be knowing about good things and bad things in short everything about Bitcoin. You can search online and get a basic knowledge and when you feel like you don't understand something from your learning, you can always come back here and ask people for answer. I'm sure you won't be disappointed.

Take the first step and do your research on Bitcoin before investing. $500 may not be a big amount for many people but if that's the amount you are willing to lose, only then you should invest into Bitcoin. But first go and do your own research about everything that is included in Bitcoin.

For me investment is one of the best activities, if anyone thinks about it like that, we know Bitcoin is one of the digital currencies that has very good opportunities, for me there is no doubt about putting a little money in Bitcoin for the future.

If I think about it, investing in Bitcoin in my opinion doesn't need to be asked and there is no hesitation in doing it, maybe other people have already done it, we are just considering doing it.

For that reason, if you want to do it, just do it, before it's too late in terms of price movements, maybe at the moment it's still under consideration, we never know what will happen in the future, doing it without doubt is better.

Welcome to forum! It is always a delight to see new members of the forum it is nice to see that bitcoin is continuously being discovered by the people and gathering interest I am glad you found this forum as this very same forum was the one who also helped me in my bitcoin journey


I agree with him but i suggest you just open your bitcoin wallet yourself I do not know this guy you talk of but even if he is someone you trust, you still can not be too careful

       -  There is nothing wrong with investing in Bitcoin; anyone can invest in it. If you don't know anything about Bitcoin, you can hang out here in the forum to find out what it really is. In addition to that, while you are learning or knowing the depth of Bitcoin, you can buy it.

Then, while you study it, hold Bitcoin until its bull run. Because Bitcoin is really tested when it comes to long-term investment. And with other cryptocurrencies, the risk is higher than with Bitcoin, although there is also risk.

Some parts of the country, particularly in my hometown, where many people are illiterate and don't have any knowledge of recent developments, do not have a high level of awareness about bitcoin. I recall talking to some acquaintances about work and other things one day when I abruptly started talking to them about bitcoin. They said it was new to them, so I gave them my knowledge of it, explaining that you could invest in it and that there are benefits, but you will need to be patient and aware of the risks.  It seems to me that they were not that interested because they preferred manual labor that allowed them to move around, like farming, fishing, or running a business.  It seems to me that they were not that interested because they preferred manual labor that allowed them to move around, like farming, fishing, or running a business.  So, I didn’t convince them at all.

If you're not keeping up with the latest technological advancements, you'll be left behind and may even increase your risk of falling victim to fraud. It is the drawbacks of not knowing anything about the investments you have made that might actually put your money at risk. You will then grow irrational and impatient to wait for your money to start making a profit.