Topic: Don't Know, But Can i Invest In Bitcoin? - page 4. (Read 710 times)

You are highly welcome to the forum. Since you have made up your mind to invest in bitcoin. It would be best if you understood that one thing is to invest in Bitcoin and another is to secure your investment against theft. Your friend has decided to help you create a Bitcoin wallet but he is not supposed to know your seed phrase. Because it is your security keys that protect your wallet from anyone who wants to access it. Tell him to teachh how to create a wallet and secure your seed phrase so that you keep and watch your wallet without any third party that can access your wallet.

The meal has already been served, It is your duty to dish out and digest the information as you are given.

This can attract scammers to you, you have to be careful of the people currently in you private message, and mostly avoid any account that has offered to help you privately with investing you $500.

Do not just invest because of someone's suggestions, know why you are investing in bitcoins before you invest. Then do not let someone open up your bitcoin wallet for you. They can guide you through the process, but should not open it for you.

For sure Bitcoin is a great investment, and when it comes to cryptocurrency Bitcoin is the safest investment that you could do, but if you are just a newbie in crypto investing is going to be your decision if you doesnt have knowledge of Bitcoin dont do it yet, make sure to learn what is Bitcoin first before even starting to invest your 500$ since it's a big amount of investment and you could easily lose that 500$ if you're not careful, for sure investing in cryptocurrency could get you a very high return of your investment but it wasn't a guaranteed investment because cryptocurrency is just one of the riskiest investment if you compared to to something like stock market.

I would suggest for sure to follow the suggestion of the guy since I already invested in Bitcoin in my experience it is one of the best investments that I do if you are patient, only if you already know and have learned about it you the only one you could decide if you already know about it, if you know what you are doing already then start investing.

But the fact is - many investors invest their money in bitcoin solely because of the potential returns. They do not use bitcoin as a means of payment - but tend to exploit its price volatility to make a profit. Even some of them consider bitcoin as a get-rich-quick scheme - especially when they have a large budget to invest.

Not all bitcoin users will use bitcoin on real use cases - most want to make a profit. The 4-year cycle has attracted the interest of most new investors - while many traders also take advantage of price volatility to make quick profits. The actual use case is largely overlooked - but I'm sure it's only by the vast majority of users who don't legally use bitcoin as a means of payment due to regulations.

Fortunately, Bitcoin isn't an investment scheme. Bitcoin is a virtual digital cryptocurrency that we can use for p2p transactions worldwide without a third party. Bitcoin has become more popular due to its volatility, which we can take advantage of to make some profits. It doesn't mean to just invest and get profits. You have to buy bitcoin and hold it until you get the profits. There is a huge chance of losing your funds in the event of a bear market. So you should invest in something you can afford to lose. I assume you introduced Bitcoin wrongly and don't know much about it. You must study more on the internet and spend more time on the forum reading threads that you need.

First, what is your relation to the guy who suggest you to invest, second, how much do you trust the guy?  Did you do your own research about Bitcoin?  Are you willing to part with the money you are about to invest?

These are some question that you need to answer before investing in Bitcoin since it was suggested by some person.  It is true that Bitcoin is a good investment but it is not a get rich quick scheme.  Bitcoin needs patience and is very good for long term hodl.

I would not suggest to have other guy create a wallet for you since there is possibility of a person getting tempted and emptying the address he open for you when that address got a huge amount of BTC.  Your private key is not for sharing, it should be kept by you alone and no one should know it since anyone who knows a walled address private key can have an access to it anytime, anywhere.  I am not saying your friend will do that but it is always best to avoid the possible situation.

First, I would welcome you into this forum and your friend lead you to the right forum or place on which it would really be something that will boosting up your knowledge not only with Bitcoin but overall crypto related information on which you could really be able to read up into this forum and able to learn up along the way.

When it comes to newbie related thing then these threads would be a good start-up.
https://bitcointalksearch.org/topic/unofficial-list-of-official-bitcointalkorg-rules-guidelines-faq-703657
https://bitcointalksearch.org/topic/comprehensive-guide-to-bitcointalk-newbie-friendly-calculator-and-infographic-2534500
https://bitcointalksearch.org/topic/newbies-read-before-posting-1689727
https://bitcointalksearch.org/topic/some-important-bitcointalk-guide-for-beginners-5275357

Hope you would really be that reading up these thread. Dont rush up yourself when it comes to investment though. Extreme profits is exaggerated i would say.
This is why self learning would really be that something recommended first.

I understand your interest OP and that is because you've heard about earning a profit but that guy never mentioned the risk of this.
What I can say to you is that is not to rush and never invest in Bitcoin if you don't have any idea about this. Just do the research and know more about crypto in order for you to have some views on how this works.

Investing is not a problem OP as you have money but you need to acquire knowledge first before doing this. Have to tell you that many people have lost their money because of this and I hope you won't be like them. So don't easily get tempted by what this guy told you, better know crypto first and this guy as well before trusting.

We hope the person also told you about the advantages and the disadvantages which aren't also the risks of investing in Bitcoin. And a simple of example of it is that someone who invested in Bitcoin last year when Bitcoin was $16+k and now that Bitcoin is $43+k which means the person has gotten a little profit but they can't make a transaction because the main Blockchain of Bitcoin full or congested so the transaction fee is very high and sometimes it even higher than the amount you want to collect so if someone introduced you to the industry and didn't give all the information and you come here and found your disappointed then the person is to be blame.

And when you are investing in Bitcoin don't depends on the profit but always maintain your capital so that you won't lost anything even your stop Operating. Always check the market to know what is going on in the Bitcoin network and the ecosystem.

Your friend has suggested you something right, but try to learn about it first instead of immediately investing in it. You have to understand how it works and how your expectations can be achieved with bitcoin, this involves some research that requires you to review the history of bitcoin's journey from the beginning until now. Bitcoin is an investment asset that fluctuates all the time, so learn how it works before you are surprised when its price volatility causes you to lose several percent of the value of your investment in a matter of hours.

Whether you should or not should depend on you, there is no compulsion. Your investment is for you, and so is it if you don't. No one here needs to force you to invest in bitcoin if you don't know what bitcoin is and how it works. So my first suggestion is, learn Bitcoin first and after that invest when you feel confident.

Please remember one thing.
Imvesting in Bitcoin is exactly profitable, but this is also high risk, there will be always the risk. That is why you must learn by yourself about how to invest in Bitcoin and how to hold it until the price reaches the target. Be patient is also the key of investing, don't panic. And of course you must habe enough knowledege before investing to avoid being scammed and also in panick sell.

Yeah you may invest as much as you can. But stay calm and logic. Invest the amount that you can afford to lose. Be wise on your financial manajement. Don't only think about the profits but also the risks.


Don't trust anyone easily. I don't mean to be suspicious of your acquaintances. However, you have to be more vigilant. It would be better if you do it yourself, by learning first about Bitcoin, how to invest, and so on. Up to where and how you buy it. You need to visit a trusted website, namely exchange. Examples include Binance, Coinbase, Kraken, Kucoin, and other top exchanges. If you hand it over to that person, it will be very risky because he will know your password, private key, and other important data for access. Not to mention if it turns out that the website he recommended is a fake website. You will be at high risk of losing your money.

Well, I guess by now you should have gotten enough comments that will guide you through the Bitcoin knowledge. Now,  I bet you should challenge yourself and read through each of the links that have been dropped on the first page. Believe me, you will have yourself to thank for making the right choice.

In the link learnmeabitcoin.com, you have the basic knowledge of Bitcoin in there to put you through all the regular knowledge. and you will soon be seeing unfamiliar words (abbreviations) along the line, so you have to just go to the coinmarketcap glossary to get familiar with the words. Just as orders have advised, don't allow anyone to know your private key, which is like your account password.

However, any amount you wish to invest just follow guides and you will do better.

First of all I would like to say welcome to this arena.
You didn't get any bad idea from your friend, but I think here your friend gave a wrong suggestion that invest as much as you want, I think the word here should have been like this, as much as you can afford to lose. Because apart from being extremely profitable, Bitcoin is also a highly volatile digital asset, so there is a matter of risk here, and there is a need to know about its security. I would say that any investment should be done with a small amount in a new state, then after making a fundamental knowledge and experience, the amount of investment should be increased gradually.

Welcome to the forum OP

You need learn first about bitcoin and site for purchasing bitcoin indeed you want to be long term or short term investor is not matter depend which one of profitable do you want to earn profit later. As beginner you need to know right side of bitcoin investment or place to buy bitcoin or sell it later if raise to higher price. Before investing in bitcoin, you must know about risk of investing some time price on the top and another time bitcoin will drop to lower price.
Patience is the key become success in bitcoin investment, don't be panic when facing moment going to lower price and don't be hurry for selling bitcoin if price going drop.

My question is, are the acquaintances you mentioned already involved in this industry and forum. And my advice, in making a Bitcoin wallet, you should make it yourself, and your acquaintances are only helpful enough to guide you on how to make it and aim to avoid unwanted things.
You are a beginner who needs to be careful in selecting and assessing people if they want to help you, and it is a good idea to take the time to learn more about Bitcoin long before you do.
Bitcoin is indeed a promising investment, especially for the long term, but you are also required to have knowledge and understanding of everything related to Bitcoin, including the risks involved.

You are welcome, Op. While it's true that many people are making respectable returns on their Bitcoin investments, it's also true that there are some barriers to investing in bitcoin, so someone without a solid understanding of the cryptocurrency industry will likely struggle to turn a profit. Therefore, I would urge you to take your time and acquire knowledge before investing in bitcoin so that you can be prepared to overcome any challenges that may arise.

There is a lot to learn about Bitcoin before you can have that proper knowledge about it, but I don't think all of that is necessary before you can start your Bitcoin investment. What really matters now is to know the risk involved in bitcoin and how to provide proper security to your funds. So with that, I believe you can start your Bitcoin investment journey.

A person biggest mistake is doing something without knowing what they are doing.
Being in bitcoin is indeed very good and indeed the advice of your friend is actually understandable because indeed invest when you can afford to lose because indeed it is a risk that you need to realize from the start but on the other hand when you try to invest in bitcoin just because of advice and do not really know about what bitcoin is then it is a mistake.
At least you should know the basics about bitcoin because after all this is a very important thing to know not to let you only be tempted by big profits but you dont know what you are doing.That would be a naive thing because in bitcoin, especially when you have invested in it. its not only the benefits that are obtained but the possibility for losses will also be very present.So even though your goal in bitcoin is a good thing but when you don't know what you are doing right now it is actually a mistake. Learn first until you are really sure about what you are doing and dont just get hung up on some of the discussions here and with the advice of some people who make you want to be in bitcoin because in the end this does not mean making you ready for all the risks and you know about bitcoin because learning the basics of bitcoin before investing is a very important thing to do.

Investing is a good action to do because the aim is to make a profit. There are many types of investments that can be made according to your wishes. Bitcoin investment can save the value of money apart from getting big profits.
I cannot completely justify people's thoughts regarding Bitcoin investment about the opportunity to gain wealth because Bitcoin is not a get-rich-quick scheme.

Previously, you should know that Bitcoin is a currency, an innovative payment network. People who use Bitcoin as an investment asset are not wrong because many people use Bitcoin as an investment asset because it can be used as a hedge, although in my opinion the purpose of creating Bitcoin was not for investment but as a currency that makes it easy for users to make transactions throughout the world.

You have to think first when someone says Bitcoin investment, you need to know!
Should you invest in Bitcoin? If you know how fiat currencies experience decline all the time, then investing in Bitcoin is an option.

You can invest with his suggestion or can even add more if you have enough capital that you can use to invest. If you don’t have, you can employ the method of DCAing which is one of the best method to accumulate bitcoin overtime if you’re not lump summing. Have in mind that, your bitcoin investment is not a fund to be touched for emergency needs, try and have extra funds for that if you really want to make a lot of profit in bitcoin when you invest for the long term.


How much do you trust that your friend that you want him to open the wallet for you? In bitcoin investment, it is very sensitive not to give out your wallet information to anyone or disclose to anyone because if you do, they will also have access to your wallet and can send your money out at anytime. Instead of him opening the bitcoin wallet for you, let him guide you on how to do that and you can as well search online for most reliable personal wallets to use for your bitcoin savings.

To begin, buying in Bitcoin without knowing much about it is like putting on blindfolds and walking into a lion's den. Bitcoin is a goldmine and a minefield. Learn and invest simultaneously is the motto. Learn without investing? Just a school project. Investing without knowledge? Congratulations on burning your money. Your $500? With that money, you've made your way into the future of money. Don't give it because someone says so. Do your job. Get the rudiments down pat: blockchain, market fluctuations, the works. Knowledge protects Bitcoin users from hackers, scammers, and other digital thieves.

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Investing in Bitcoin can pay off. There isn't a magic money tree. The market is unstable. Prices go up and down like drugs. Get ready for that ride. When someone offers to open your wallet and buy Bitcoins for you, beware! Learn how to create a wallet. It's not hard to understand digital banking. Be careful with your money, and remember that the smartest Bitcoin player knows the rules.