Topic: Don't Know, But Can i Invest In Bitcoin? - page 6. (Read 710 times)

You can invest in bitcoin but not for him to do everything for you, first learning how to Know what bitcoin is, make use of the google and some relevant bitcoin discussion threads here on the forum, ask questions when necessary, research about how to make bitcoin wallet, know the kind of wallets to use and only allow him to teach you how to do it and not doing it for you, when he have access to your wallet then you're only taking the risk with your ignorance because he may choose to steal your money from you after knowing your secret keys.

Your potential profit will always depends on your learnings so before trying to invest much better if you do a research first since might fall on wrong promises of bit profits by scammers you can interact online so to avoid losing your money just spend sometime to learn first about bitcoin since there's many information's need to consider before you should decide to invest.

Don't rush your decision upon  investing in this coin much better if you try to read more information shared by a lot of people here also you can learn from multiple discussions happened in this forum so much better if you use the search bar of this forum then search what information you are seeking that caught your interest. Also fair warning avoid people telling to invest because you can get a passive profit here since usually they are scammers and running a ponzi schemes. Anyways good luck and start investing if you have gain enough knowledge and don't go(invest) if you are still doubting or doesn't have clear inputs about questions still in your mind.

Welcome to this forum.

First of all, as a newbie, I think you should learn about Bitcoin/crypto, there is a lot of basic knowledge about it that you can search for yourself. And here I see you coming to invest to bring big profits through bitcoin , first of all I don't want to obscure your thoughts, but you also need to understand more about investing with risks/returns and The problem mainly comes from individuals. Through bitcoin/crypto it is a tool for you to find what you are looking for. But it will be similar to many things in life about investing in knowledge, health, time, money, relationships,... if you do not grasp the basics and just participate. The way it is presented, it is indeed a danger. I can mention the story of using a car, we all know it has benefits such as reducing travel time, protecting us from the weather,... but if we don't learn how to drive, we just sit above it, sooner or later you will have to pay the price. So still welcome to this environment, freely express your opinions and always learn from everyone, I hope you will have a great experience in this field.

As you are new to this forum that's why I highly welcome you to this amazing forum where you'll get a lot of information about Bitcoin and crypto-currencies in general. The person who told you about investing in Bitcoin did a great job because it's the best asset in the market as of this time and anyone who learns about Bitcoin and investing in Bitcoin will get profits if he/she aims to hold that investment for long term.

Although, an investor can get profits by investing in Bitcoin but it's not possible to get a lot of profits by investing in Bitcoin right now. Bitcoin is already over $43k a Bitcoin and it's expected that in this bull run Bitcoin may reach to $120k a Bitcoin. This bull run will continue for at least 2 years at minimum as speculated by professional market analysts and if you invest in Bitcoin right now then you may get more than 100% profit if its price reaches $86k or more.

But before investing in Bitcoin I would suggest you to learn about Bitcoin by reading as many topics on this forum as possible and you should also try to learn about personal wallets like Electrum in detail and use it yourself for sometime with small amounts. Once you learn it properly then you should create your own personal wallet and keep the seed phrase in a secret place that you get when using the Electrum wallet. Never share your seed phrase with anyone because if someone learns about your seed phrase then they can easily transfer your Bitcoin from a remote computer.

I would say that the tough part is to learn about personal wallets and that's only a little bit tough for the newbie users but once you learn about it and you also learn that how you can protect your seed phrase and private keys then you won't face any problems with Bitcoin investment. I would also suggest you to go with a DCA strategy when you have learnt about the personal wallet and its security. With a DCA strategy you may invest $100 to $1000 per week into Bitcoin. I won't suggest you to go with $10 to $20 based DCA investing as that's not going to be helpful you should begin DCA with at least $50 a week and continue investing in that way.

Before investing in Bitcoin, it's a good idea for you to know the basic things about Bitcoin and what the risks are of investing in it. Because even though investing in Bitcoin has the potential for high profits, it carries the risk that your investment value could decrease if the market is bearish. You have to understand things like this, there should be lots of sources on Google that you can read about Bitcoin and its risks.
And just as a piece of advice, you have to open your own wallet and don't let other people use it, even your own relatives. The wallet is where you store your Bitcoins and if someone wants to do evil they can back up your private key and import it on their device, and then they can send Bitcoins from that wallet. Be careful with your wallet and assets.

Welcome to the forum mate. Investing in Bitcoins doesn’t guarantee you profits mate, you need to make your fundamentals regarding the coin very strong. You need to understand that Bitcoins have grown in price across the years, so if you buy now then there is chance that it might grow more in the future. Hence you should definitely invest in it for long time. Moreover, I would suggest to read articles online or watch YouTube videos on how to use a Bitcoin wallet and manage the Bitcoins. Trusting 2nd person here can be very harmful.

You don't need to rush into investing bitcoin because you want to meet up with target of making profit.  Since you know nothing about bitcoin, you just need to have knowledge about bitcoin and understand the market.  Bitcoin is a volatile that if you are not aware of this and you go into investing it, you can end up being dissapointed because your mentality about bitcoin is just different.  
If you take your time to understand bitcoin very well you won't have problems with bitcoin, investing bitcoin has to do with patience of hodling and to understand every season of the market. Get to understand the rules to be successful in your investment in bitcoin.

It's nice to have you on this forum, and also nice to know that you picked interest in learning what Bitcoin is all about, but please I would like to clarify that Bitcoin is not a Ponzi scheme where you could invest $100 and be expecting to get $200 after 24 hours, just like many scam project or coins we have out there which promise to offer what they don't. But Bitcoin is an asset that gives value to our funds more than what we could get if such funds saved in our traditional banks over a long period.

For me, I can only advise you should invest after fully being convinced that it's Bitcoin you want to invest your money into, but yet Bitcoin stands to be the best and only coin I can ever advise anyone to invest their hard earn money into, because just as we approach halving next year, so is the price of Bitcoin said to skyrocket higher.

What's the name of the website that you're friend is talking about, you might be directed to a bad place by that friend so you better have the vouch and legitimacy check of the forum so you're not going to be led astray or get scammed. You can name the website or paste the link but you got to do it like this:


To do this, when you edit your post, just click on the pound/hashtag sign and then type in the website link in between the codes to contain them and to be presented like in the sample or you can just quote my post and then copy my sample then do a quick edit.

Firstly, you must understand that by entrusting the creation of a wallet to another person, you are entrusting him with ownership of your wallet. Since you are a beginner, you probably don’t know that the seed phrase that is created when creating a wallet is important, and it is this that needs to be kept away from other eyes. But by helping, your friend can keep it for themselves.
Therefore, investing in Bitcoin is of course always good, but do not be hasty; take the time to learn some points about creating a wallet and buying Bitcoin yourself. And also read not only bright success stories from investing in Bitcoin but also stories of people losing them. And how can you protect yourself from this.

What is worth doing is worth doing well. You need to understand any business or investment you want to engaged in, with this you will be able to make right judgement on amount to commit.
Don't get it wrong, Bitcoin is a profit investment worth investing in but you need to full understand everything about it and other cryptos.

Before you throw your money into Bitcoin or Ethereum or whatever, you gotta educate yourself so you actually understand what you're getting into. 

As for that guy's suggestions, maybe he actually knows his stuff when it comes to crypto.  You should probably ask him some harder questions before taking his advice and  like, what's his background with all this? Does he really understand it or is he just seeing dollar signs? Gotta make sure hes not leading you down a rabbit hole.  But if he has real expertise hey, maybe you should listen.  Either way, you should look into it more yourself too.  Do your own research before throwing money around.  In the end though, it comes down to trusting his motivations.  If something feels off there better to trust your gut.

First of all welcome to this forum which will surely be very useful for you. You have heard right about bitcoin, indeed bitcoin is a good investment, and people who have capital prefer to invest in bitcoin. Whoever advised you to invest in Bitcoin must have given you good advice. You have no idea about investing in bitcoin, because you don't know anything about cryptocurrency. so in my opinion you need to know about cryptocurrency market first.

You can find complete information about Bitcoin from various platforms and useful information about investing in the cryptocurrency market is everywhere. However, I would suggest that you don't rely on anyone else to buy bitcoins and create a wallet, but rather learn about creating a wallet yourself, and when and how to buy bitcoins. It's still a good time to invest in Bitcoin, and if you invest $500, that's a small amount considering the price of Bitcoin, but still a good start for a new investor.

He's not wrong for telling you about investing with any amount you're willing to invest. That also means that amount is what you are willing to lose. Why so? It's because this market is highly volatile. I don't want to encourage you to invest but right now, you are not yet ready IMO. What you must do is read more info or gain more knowledge so you understand what you are investing with.

He's right that you'll get good profits in time but I disagree about it that he's the one that will create you your Bitcoin wallet. He can guide you but the wallet that you must use is a wallet that provides you your private keys. You can invest in Bitcoin but do that later when you understand these things already. Also read some guides about the forum which I've included below.

• [General] Bitcoin Wallets - Which, what, why?
• Newbies - Read before posting

You can invest with DCA. $500 is good for starting. You can work and get more money for DCA.
Dollar Cost Averaging with costavg.com include exchange fee
https://costavg.com/
https://dcabtc.com/

You need an example of DCA, you can see MicroStrategy that has about 38% ROI and Bitcoin bull run does not start.
Michael Saylor ⚡ (MicroStrategy) Portfolio Tracker

You can learn
https://learnmeabitcoin.com/

Choose your wallet https://bitcoin.org/en/choose-your-wallet
Recommended wallet https://www.lopp.net/bitcoin-information/recommended-wallets.html

You are welcome to the forum, and I am happy to say to you that you have come to the right place, because here is where you will have all the information that you need about bitcoin and even other alt coins.

My suggestion for what I will say to you is that you should understand bitcoin first before you invest in it, because it is of no use to invest your money in something you know nothing about, so you should know and understand how bitcoin works. If you have done that, no one will tell you the amount to invest. You will know the amount to invest when you understand how bitcoin works.

Actually, investing in bitcoin is profitable, but understand it first before you invest because if you depend on the suggestions of others, you will end up blaming them. You shouldn’t be brainwashed by the profit; invest the amount that you know you can lose. In this case, I will like to tell you that you are the one to determine what to invest.

 
Yes, it is a good idea to invest in bitcoin, but understand it before you invest in it.especially, be cautious about him that will open the wallet for you, and make sure you keep your seed phase (private key) very secure and not allow anyone to have access to your private key (seed phase), because if someone has access to those keys, it is like he has access to your bitcoin, and I hope you know what that means.

Hello everybody, how are you?

In this forum i am new and proud to be here as a member of this forum. Heard there is a lot of discussion about Bitcoin so I came to join here for my own needs. Hope you all will help me. I don't have a good idea about cryptocurrencies. I just know that investing in Bitcoin is extremely profitable. But I don't know how to do it. One of my acquaintance suggested me to invest some money in Bitcoin. I told him how many dollars to invest and he said as much as I am willing to invest. I made up my mind that I would invest $500 but i am confused. I don't know much about Bitcoin so the person gave me the link to this website and suggest me to know about the various opinions of users on various topics. Since I see that Bitcoin is always discussed , I want your suggestions about my Bitcoin investment.

Should I invest money with the suggestion of that guy? He told me that if I invest I will get good profit. He said, he will open my bitcoin wallet and help to buy bitcoins. Should I invest in bitcoin?