Topic: Don't Know, But Can i Invest In Bitcoin? - page 5. (Read 710 times)

you are right to come to this forum. here you can find everything you need to know about investing in bitcoin, from choosing an exchange, wallet, to how to secure it, you can find it here. you can also see people's analysis and predictions about bitcoin from this forum. whatever you want to find out, you can use the search button above and find the topic you want to know. or you can open a thread like this and discuss with other users about problems or questions you want to ask. welcome to this forum and good luck for your investment.

Welcome to the forum, this forum is the perfect place to learn and share your knowledge about the exciting world of cryptocurrency. You have joined this forum through someone you know and you can definitely learn about cryptocurrency from here if you want to. You know it right, Bitcoin investment is profitable. You can invest Bitcoin with your desired amount. No matter what kind of amount you start with, hopefully you will definitely get profit in the future. I think you don't need that person to open the wallet, you can do it yourself. Prioritize security when creating a wallet to store your personal information and funds Take the time to learn and understand how to create a secure and private wallet on your own, so you have complete control and peace of mind over access and security. It is always better to be cautious and independent when it comes to these matters.

Yes, there is a very active discussion space here about all things related to crypto, including political discussions. You can choose for yourself which part you want to focus on.
Regarding the idea of cryptocurrency, I don't have a good one either because cryptocurrency is very common and there are many types.

Investment can be done by everyone as long as the person wants to do it. Poor or rich can invest.
Is Bitcoin investment profitable? depends on how people do it. If it is short term, I don't dare to guarantee that profits will be obtained. Long term, I dare say yes, it will be profitable from price returns.

In Bitcoin investment, it is important to know about wallets as a place to store Bitcoin. Terms are not your keys not your coins. Learn or join discussions about wallets to make it easier for you to secure your Bitcoin assets.

You don't know much about Bitcoin, but you decided to invest in it already?

I suggest you should learn more about Bitcoin, and cryptocurrency in general. Like what many people are saying here, learn first before investing. Learn before you earn. Have some knowledge first that will help, and guide you. Forget about the profits because it's always there. You can invest into Bitcoin anytime as long as you know the basics already. This forum and YouTube will be your guide to gaining knowledge. Go spend your free time watching documentaries, and reading some topics here.

That's one thing that you should not do. Letting other people create your wallet.

This is the power of knowledge that we are saying. In the process, you will also learn how to make your wallet and store it properly. Don't depend too much on other people, especially with your money. Investing in Bitcoin can give you good profit, but it's not certain. Like I said, you can invest in Bitcoin as long as you have the knowledge that you need, and that includes making a wallet on your own.

Have you tried to find out? The Internet is full of various guides.

I would start my journey into investing in bitcoin of a smaller amount. For example, $20-50.

This was one of the best recommendations. Now read and rethink the information received here.

Have you tried using your head to make your own decisions? Do you really need to get outside guidance?

Sounds like the start of a little scam. Would you give money to a guy in the back alley so that he would go to the bank for you and open an account there in your name?

Open your browser with Google and use your brain to do it all yourself. It’s time to learn how to independently deal with the issues of storing your money.

The sooner you master the basics of operation with bitcoin, the better it will be for you. Get used to independence with it.

Do you want to hear permission to buy bitcoin? This forum is dedicated to bitcoin and almost all users are investors and fans of investing in it. Here you will only get one type of answer to your question.

that last part of your post is really great advice someone can give to a newcomer in bitcoin. every new person who wants to invest in bitcoin should take matters into their own hands and do his own research and due diligence before investing in Bitcoin.
if everyone understands these simple things in crypto. a lot of people will be safe from losing their money in crypto and eventually ending up blaming others and calling crypto a scam.

Education is really important before making financial decisions.

I hope you get the answers you need here, and welcome to the forum. The fact that a friend told you about bitcoin and even advised that you invest in it is great to hear actually. That being said, you should also be aware that bitcoin is unstable, which means that its price will change based on the market. Bitcoin can indeed be extremely profitable—but only if the market is high and you are willing to take the risk and hold for the long term.  But before you invest, make sure you read up on how it works and do a full analysis to understand the advantages and disadvantages of the investment and to ensure that nobody loses out.

Allowing someone, even a buddy, to create a bitcoin wallet on your behalf is not acceptable in my opinion. Since your private keys, which are required to access and utilize your bitcoins, are contained in it. Additionally, you run the danger of losing your money if you allow your friend to open a bitcoin wallet on your behalf because you never know when they might become dishonest, irresponsible, or hacker-prone.  And You also forfeit privacy and control over your finances. It would be best if you looked up how to make your wallet. After all, you should learn about bitcoin on your own and be knowledgeable about it before trying to figure out how it works. You can search on YouTube or read the discussions here, especially the ones they provided you, as there are a variety of information sources available these days. I'm sure it will be helpful.

Bitcoin is very wide , and it serves different purpose and one of it, is for the purpose to invest it. Buying bitcoin and hodling  it for a longtime is a good investment and this is one of the advantage that makes bitcoin to be very interesting why people will always accept it as best form for investment. OP is in the right place to learn how to go about bitcoin investment.

Not everyone offering advice is a crypto guru. Some might be genuine enthusiasts, others might be seeing dollar signs and flashing visions of Lamborghinis in your eyes. So, before blindly trusting your friend's suggestions, drill down deeper. Ask them the tough questions: What's their track record? What's their evidence for their bullish predictions? Are they basing their advice on sound analysis or just wishful thinking? Don't be afraid to be skeptical – your financial future depends on it.

And don't stop there. Do your own research, bro! Dig into the white papers, decipher the technical jargon, and understand the underlying tech that fuels these digital currencies. Knowledge is your shield against misinformation and hype, your compass in the ever-shifting crypto landscape.

Welcome to this forum. You can learn a lot about Bitcoin, altcoins, investing, trading, and gambling

You don't need to think about the latter. You can focus on investing in Bitcoin. There is no obligation to invest in Bitcoin. But after you see Bitcoin's journey, how do you feel when you see that many people have succeeded in making big profits? Aren't you interested in trying it?

You can start investing in Bitcoin with that money. I suggest you learn the DCA method. This method gives you the opportunity to buy Bitcoin regularly, such as weekly or monthly. And you don't need to consider whether the Bitcoin price will go up or down. You only need to focus on buying Bitcoin and holding it until the price reaches the final ATH before selling it.

You have to learn more about Bitcoin so you understand what to do. You cannot rely on your friends because you are responsible for your investment. Once you have a wallet, you must take care and not tell many people you have Bitcoin. Just you and the people closest to you will know or just you who know. There are many things you have to learn but don't worry, you can read a lot of valuable information on this forum.

First of all, welcome to the forum and to the world of cryptocurrencies.

It's never too late to start investing in Bitcoin. If I were you, I'd make a budgeting plan to invest anywhere from $50 to $100 per week or month, whatever you can afford, of course. That way, you're decreasing your risk while gradually expanding your portfolio. Don't put $500 and expect to double your investment within the blink of an eye. Bitcoin's value currently ranges from $41.000 to $43.000. In order to double your $500, it'll need to surpass its previous ATH and reach over $80.000. With the mindset your friend has implanted in you, you'll have given up by then. Slow but steady growth is the key.

And most importantly, no one should create the wallet for you; it's a simple process; just download Electrum or any other desktop wallet that looks good to you. It's an extremely easy process; you can find plenty of guides here, like others have already provided you with, and plenty of others online, including videos.

Before diving into Bitcoin based on your friend's advice, take a moment to do your homework. Get a basic understanding of how Bitcoin works and the risks involved. Check if your friend has a solid track record with crypto investments and be wary of anyone rushing you into decisions. Only throw in what you can afford to lose, considering how unpredictable the crypto market can be. Instead of letting someone else handle your wallet, consider setting it up yourself on a trusted platform. Keep it cool, and if possible, chat with financial pros for some advice that fits your financial game plan or you can read a lot in this forum. Just remember, there are no guarantees in the crypto world so it's all about making savvy, well-informed moves.

Investing in Bitcoin is a wise Idea if you have Spare money to Invest.  Keep these things in your mind while investing in Bitcoin.

1: Create Your wallet by yourself. do not let anyone else create your wallet. there are tons of tutorials and how to guides you can learn.
2: Do not share your keys/seed phrase to anyone. keep them somewhere safe.
3: Buy bitcoin from a trusted Exchange (Binance is a Good option)

one more thing you should keep in mind that Bitcoin itself might not be profitable just by buying and keeping it in your store (it might as well be profitable too if bitcoin price increases) so keep all these points in your mint and make your next move.

Hello welcome.

The first thing you need to know is that bitcoin IS NOT AN INVESTMENT. Bitcoin is a hedge.

It serves to protect you and for you to have freedom and self-sovereignty.

Study hard and participate here with us as you have a lot of knowledge to learn.

Why are most newbies only interested in the profit they will make from bitcoin investment. Investing in bitcoin can be profitable but also risky so you shouldn’t be blinded by the profit of it only and rather understand it’s concept so you know what you are getting into and the risk associated with it. Understand Bitcoin is not a get rich quick scheme and you need to first acquire basic knowledge at least before investing any amount into it.

You are directed to right place where you gain bitcoin knowledge for free and anything you need to know about bitcoin will de shared with you. You need to understand that in cryptocurrency you don’t just invest in any project because someone told you to do so, crypto market can be deceiving so you need to carry out research on your own and decide when to invest and what project to invest in. Of all cryptocurrencies Bitcoin is the best, safest and most reliable to invest in and it wouldn’t matter when you invest because of its high potential to rise in price but you should also expect the opposite.

$500 is not a bad start but you can accumulate more with time and I hope what you intend to invest is an amount you can afford to lose and hope you intend to hold for a long period of time. Profit isn’t certain but investing for a long period will certainly yield profits so have it in mind that your $500 investment is an amount you don’t have any plan of using any time soon.

It is better you learn and understand about bitcoin yourself and understand the concept of bitcoin wallet and its security because no one can be trusted especially when money is involved. If you let him create a wallet for you and buy you bitcoin then it means he will have access to your private key and your wallet and as such he can access your wallet anytime and move your funds.

Always safeguard your private keys and it should be known to you alone and anyone you can trust with your assets.

Also don’t forget to read the rules of the forum here so you don’t break any rules and get penalized.

Here are some links that will give you better understanding about bitcoin, bitcoin wallet and its security.
https://www.learnmeabitcoin.com
[General] Bitcoin Wallets - Which, what, why?

You can also take a look at @JayJuanGee Outline of Bitcoin investment ideas

First of all, Welcome to this forum! for sure you will gain a lot of ideas here, all you have to do is to read and try to engage with other people here.
about that friend of yours who recommended you here on the forum and invest money in bitcoin, what he says is true that it is possible to make money if you invest here but maybe it is better that you at least have an idea about bitcoin before follow other peoples recommendation so in the end, no matter what happens or the consequences of what you did, you have no one else to blame, I'm not saying you should blame your friend if ever things happen but when it comes to investment, you have to make your own decision.

We welcome you to this wonderful forum, where matters relating to Bitcoin, cryptocurrencies and so much more are discussed. Trust me, your friend did a good job by inviting you here to this forum, here will help broaden your knowledge about Bitcoin and other cryptocurrencies. Just do well to abide by the rules of the forum.

$500 is enough to begin with and many did start with something lesser than this and definitely you will get profits.
I do not think you should be convenient with him helping you create your wallet as he may have access to it, simply study and create a wallet where only you have access to your wallet for security purposes.

I'm sure other people will help you a lot to know about the basics of Bitcoin before you start investing, so study what they share here and read so you understand it.

Because you are still a beginner and unfamiliar with Bitcoin, you need to know this from the basics.

Yes investing in bitcoin is profitable but you need to know that it is not for the short term but long term so you can benefit from investing in bitcoin, in fact it is not easy to start especially as a layman you still don't know what it feels like during a bearish market when there is a lot of panic, you follow fomo because you sell bitcoin in the middle of the road because the price is afraid of going down, so you also need to learn this, including patience in investing in bitcoin.

$500 is enough to start, but you also have to be able to continue accumulating if possible, don't just rely on $500 and then let it sit, so when you have more money, it's better to invest in bitcoin using the DCA method every week or month depending on your cash flow. .

I also started small but until now I will continue to accumulate.

this is a dangerous way of thinking. just so you know, Bitcoin has a volatile market and a lot of investors have lost investments in Bitcoin. it has its risks and if you can't handle its risks, you'd probably lose a lot of your investment.

if you are going to invest in bitcoin you need to do it yourself and do your own research. don't rely on anyone when it comes to investing your money, you yourself need to know what is going on and how the process works. I suggest you spend some time here to read and ask around the forum, pretty sure members will be willing to give you answers on what you are curious about.

Your friend is a very nice person to introduce you to this forum so that you can learn by yourself without anyone to help you do anything. Whatever you want to know about bitcoin investment, you will get the information on this forum. You need to know the basics of bitcoin first, which is which wallet to use and how to buy and send bitcoin from wallets to exchange and vice-versa.

You can create a self custody wallet yourself by downloading it from the official site. Electrum wallet and blue wallet are good mobile wallets and if you want a hard wallet, you can use Electrum cold storage wallet. As a newbie, you can use a mobile wallets for a start and as you continue learning and increasing your bitcoin, you can choose the right wallet that suits you. The best way for you to invest in bitcoin in a long term investment so that you can limit the risk investing in bitcoin. Use DCA method to buy bitcoin weekly or monthly since you just started your bitcoin journey.

You can be investing and learning at the same time since you are into a long term investment journey. Don't keep your bitcoin in an exchange because, they are in control of your funds, keep your seed phrase safe from third party and back up your seed phrase by writing it on a paper and keep the three copies, in different location very far from each other.