First buy Bitcoin as a newbie, good way to start.

Ojima-ojo

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Quote from: Kristiyana on May 09, 2024, 03:29:39 PM

Quote from: Ojima-ojo on November 04, 2023, 04:58:28 PM

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.

I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research, and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.

So if you have the money to buy some Bitcoin, why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach, this approachable helped a lot of newbies to be able to have the right mindset and accumulation approach towards bitcoin, and they can accumulate a good amount within a short space of time, and also building a sustainable knowledge that helps you to have a better understanding of the market and to make good analysis.

Actually I don't think is advisable for someone to invest before learning, is very risky what if you're holding the wrong one maybe after acquiring the whole knowledge about crypto investment then you realize that you invested on the wrong coin what will you do? That is why is very good to have the knowledge about bitcoin investment before looking out to invest. However advising a newbie to invest before learning I think is not advisable, for the fact that this method favoured you does not mean that is going to favour others so you don't have to give such advice, most of the newbie after reading this thread they can decide to do exactly what you said thinking that is a nice idea because they don't know how the market is.

I am sure that majority's of those that will invest in bitcoin will first of all understand the risk that comes with bitcoin investment and how important it is to have a long-term view towards bitcoin, and also how not to gamble around with high rank volitile assets like altcoins.

Also with the fact that having adequate knowledge and understanding will help you as an investor to make better choices and bitcoin can give you the chance to learn along.

Kristiyana

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Quote from: Ojima-ojo on November 04, 2023, 04:58:28 PM

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.

I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research, and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.

So if you have the money to buy some Bitcoin, why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach, this approachable helped a lot of newbies to be able to have the right mindset and accumulation approach towards bitcoin, and they can accumulate a good amount within a short space of time, and also building a sustainable knowledge that helps you to have a better understanding of the market and to make good analysis.

Actually I don't think is advisable for someone to invest before learning, is very risky what if you're holding the wrong one maybe after acquiring the whole knowledge about crypto investment then you realize that you invested on the wrong coin what will you do? That is why is very good to have the knowledge about bitcoin investment before looking out to invest. However advising a newbie to invest before learning I think is not advisable, for the fact that this method favoured you does not mean that is going to favour others so you don't have to give such advice, most of the newbie after reading this thread they can decide to do exactly what you said thinking that is a nice idea because they don't know how the market is.

Fiasem20

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Your post looks a bit misleading to newbies,yes we all know it's right to invest on Bitcoin but as for those that doesn't have any knowledge about Bitcoin before investing it's a wrong start.Whatever investment you'd want to get into it's best you acquire knowledge before thinking of taking the next move.Just in the cause of Bitcoin every beginner ought to know that the market is volatile in nature so that if there is a dip in price it wouldn't sound or look strange to the beginner who has the intention of investing in Bitcoin.Acquiring knowledge should be the first start before accumulating,and there is nothing too big or small to accumulate you just have to accumulate with the DCA strategy.

Zanab247

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The risk you took back then OP, I don't think there are newbies here who can take such risk in this time because, people have make it easy for Many newbies to learn from this Bitcointalk.org before reason on how to invest in BTC and, it's really working for many newbies that achieved the skills before investing in BTC.

It take me long months before I was able to approach the market to buy little BTC to test my first investment and, it was massive to me to win something big when the price of BTC hit higher last 3 years and is giving me courage to continue to invest in BTC during the bear season.

Baki202

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Quote from: Blackcurry on March 03, 2024, 07:39:24 PM

I bought some Bitcoin and Ethereum. Although, so many other coins are gaining my attention. But I'm looking for cheaper ones apart from Bitcoin and ETH.
I feel like having these two for now will give me rest of mind than the others.

I know a lot of people talk about Bitcoin and I know it's the safest to invest in. Other altcoins can be given a try. because they are called alternatives. If you do have money for Bitcoin, you should be able to afford some altcoins. Aside from Bitcoin, even Elon gave Dodge a try and he has been an influencer Anything he does will have an effect on the price of Dodge, being the icon he is, so altcoins are not that bad and the way some altcoins have x will surprise. so you can give both Bitcoin and altcoins a chance.

Anything you are doing has to be according to your capacity, If you cannot afford Bitcoin and ETH, you can go for the cheaper ones because once the bull run is here, every other coin will be affected and that is one of the benefits I love about having crypto. if you are the serious type, you will make a profit. From what is happening now, I am learning that this is the first time I have wanted to experience a bull run and that is something I would love to be part of just because of that benefit.

Richbased

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Quote from: Ojima-ojo on November 04, 2023, 04:58:28 PM

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.

It has been discussed often times in this session that the Best way to Start as a beginner or a newbie is to buy and hodl before seeking for proper knowledge and orientation on how to go about Bitcoin investment because the more you're waiting to acquire all the knowledge needed to facilitate your investment in Bitcoin, that's how the price keeps skyrocketing and it can get to a stage where you would feel that the price has gotten to an unaffordable price as a newbie thereby you may not have the zeal to buy at that high price.

Moreover, the best way of learning is by practicing, so you can't seek for knowledge about Bitcoin when you don't even have any Bitcoin in your wallets because acquiring some Bitcoin before having a proper knowledge and understanding would actually acquaint your zeal to focus on best investment practices that would facilitate your Bitcoin journey.

Adbitco

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Quote from: GeorgeJohn on March 04, 2024, 04:10:15 PM

Everyone cannot make use of the same strategies of investment in Bitcoin at least you have for your own derivation of investing in Bitcoin so shall another person have it on derivation in cryptocurrency especially Bitcoin so therefore I believe that they only option you can take to invest in Bitcoin is when you have learned the procedures or the strategies of Bitcoin properly before you invest

Most times we do not need to rush and invest in bitcoin using the techniques someone has used other than the techniques that suits you most, like for instance when someone is using method Z that doesn't mean that the next person should that same method rather should learn carefully on what he is going to invest before finally taking the bold steps to invest into it. But often time people do not want to study things carefully before they delve into it to make investment, if they understands what they are into then I will say it will be very easier for them to understand more better and knows how to follow it up without any lost although it's no one is expert in bitcoin price and investments.

GeorgeJohn

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Everyone cannot make use of the same strategies of investment in Bitcoin at least you have for your own derivation of investing in Bitcoin so shall another person have it on derivation in cryptocurrency especially Bitcoin so therefore I believe that they only option you can take to invest in Bitcoin is when you have learned the procedures or the strategies of Bitcoin properly before you invest

LittleTimmy

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As a newbie to Crypto I have brought a couple of coins but am slowly learning about crypto and have much lot to learn. I may have followed the same strategy as the OP but do not believe this is for everyone. I don't believe there is a right or wrong way, 1 thing is paramount though we all have to learn.

KiaKia

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Many people including myself knows bitcoin through Ponzi scheme, they ask people to deposit bitcoin to earn more bitcoin, it was how I first heard the name bitcoin and my curiosity attitude won't let me rest until, until I found out that Bitcoin is the right one for me.

So my dear, everyone won't get to know Bitcoin in your own way, stories will be different, path will be different, fate will also be different.

The only advice I have for newbies is to accept that they know nothing when they start to read about bitcoin, they must have the patience to start reading and gaining more knowledge about bitcoin, it's not going to be a straight journey but learning will get you there than trying to rush things up, Bitcoin is far more reliable than other digital currencies out there.

cxtreenal

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Quote from: Obim34 on December 06, 2023, 09:15:43 AM

Buying Bitcoin as a newbie might not be a bad way to start as a person who is knowledgeable enough with out knowing much about Bitcoin might still know how to handle the buying and holding system.

Money saving is a common strategy, for all and as a newbie who gradually knowing about Bitcoin through this forum. savings and holding is normal matter. Initial stage some problem like blockchain related knowledge can be facing that time should be use non custodial wallet. I think one of the newbie who have enough stamina and wish a bright future "Bitcoin holding" is the perfect strategies for him.

Quote from: Obim34 on December 06, 2023, 09:15:43 AM

The only problem the person might face is knowing when to buy and the strategy to apply when trying to buy, as being a newbie who owns Bitcoin if the person might not have understand the volatile nature of Bitcoin and with a little dip the person might want to panic and sell off.
But with time if the person is always inquisitive to learn he would not make the mistake to sell but instead keep holding

Bitcoin is one of the Cryptocurrency that's future is so bright, patience and the mentality of forward he will be big gain in life. There will be volatility in the market and the strategy of DCA is the best not only BTC's but also for all financial sectors. There is no need to fear that the price may decrease or increase, just trying to buy proper time.

Catenaccio

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Quote from: Blackcurry on March 03, 2024, 07:39:24 PM

I bought some Bitcoin and Ethereum. Although, so many other coins are gaining my attention. But I'm looking for cheaper ones apart from Bitcoin and ETH.
I feel like having these two for now will give me rest of mind than the others.

Cheaper coins don't mean they are cheap in risk and benefit analysis. You can buy other cryptocurrencies with cheaper prices but if those prices are over valued of their intrinsic values, you are doing bad investment.

Cheap or expensive, it must be taken into account with those cryptocurrencies' use cases, utilities and their project roadmaps. If they are bad projects, you can buy a cryptocurrency at price like 1 cent but it is still expensive because eventually you will lose all your capital when that project is dead.

Dead Coins: Over 50% of Cryptocurrencies Have Failed.

Blackcurry

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I bought some Bitcoin and Ethereum. Although, so many other coins are gaining my attention. But I'm looking for cheaper ones apart from Bitcoin and ETH.
I feel like having these two for now will give me rest of mind than the others.

Finestream

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Quote from: Inwestour on January 23, 2024, 04:10:25 AM

Quote from: DaNNy001 on January 01, 2024, 01:42:27 PM

Well I think from my POV, you don't actually have to be a newbie for you to fall under the category of person actually doing such stupid acts. Sometimes one can let guard down and eventually do all sort of nonsense even the ones they know fully well that can isn't worth doing. But mainly if you are lacking basic knowledge then investment on something you don't know about is as crazy as actually giving someone your money for free because you never can tell the risk involvement and how legit the project is.

This is one of the biggest mistakes when you start doing something you don’t understand. How can you get behind the wheel if you don’t know how to drive? It seems obvious to everyone, because it will lead to an accident. The same thing will happen if you start investing or trading without the proper knowledge, you will simply lose money. Learning something takes time, sometimes it can take a year or more, it’s different for everyone, but it’s not something to be taken lightly, especially when it comes to your money that you’ve been saving for a long time.

Acquiring knowledge should be given high priority first before taking risk on an investment. How would you know that you are making the right investment and that you are risking your funds over those potential coins if you don’t have even basic knowledge in the first place. Be knowledgeable at first, so that if ever your investment does not work out based on plan, then you can make some back ups to prevent your funds from losing too much.

Not just in investing or trading, but definitely in all aspects of our lives, knowledge should serve as the foundation. Build it first before you set yourself looking for financial gains.

odunybiz

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Quote from: AirtelBuzz on January 27, 2024, 07:31:56 AM

Quote from: odunybiz on January 26, 2024, 05:10:59 PM

If I had known about this thing at that time, I would have saved every single money and bought Bitcoin. That is, our trend was not in this direction, our trend towards digital currency was only that we should make an investment in which all of us would have benefited, but we did not do that at that time, which we are very missing a lot of benefit.

Such a regret not only you but all of us have because we spent a lot of money in various ways before we came to this forum and came to know about Bitcoin. But when we started to understand about this forum we started regretting why we didn't invest that spent money in Bitcoin. @odunybiz You didn't know about Bitcoin back then and didn't buy Bitcoin which you regret now. Now that you know and understand about Bitcoin, you should invest in Bitcoin now. There are a lot of people who wait until the price of bitcoin drops to start buying and investing in bitcoins, I think they make the wrong decision.Bitcoins can be purchased whenever there is a desire to invest.

I don't need to wait for the dip anymore before I buy my favorite coin/token. This is part of the lesson I have learnt in the space. No one can ever know the lowest dip or highest high of any coin. It is the best practice to buy your favorite coin using DCA.

AirtelBuzz

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Quote from: odunybiz on January 26, 2024, 05:10:59 PM

If I had known about this thing at that time, I would have saved every single money and bought Bitcoin. That is, our trend was not in this direction, our trend towards digital currency was only that we should make an investment in which all of us would have benefited, but we did not do that at that time, which we are very missing a lot of benefit.

Such a regret not only you but all of us have because we spent a lot of money in various ways before we came to this forum and came to know about Bitcoin. But when we started to understand about this forum we started regretting why we didn't invest that spent money in Bitcoin. @odunybiz You didn't know about Bitcoin back then and didn't buy Bitcoin which you regret now. Now that you know and understand about Bitcoin, you should invest in Bitcoin now. There are a lot of people who wait until the price of bitcoin drops to start buying and investing in bitcoins, I think they make the wrong decision.Bitcoins can be purchased whenever there is a desire to invest.

odunybiz

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Quote from: God bless u on January 26, 2024, 07:28:41 AM

Quote from: Septex on December 06, 2023, 09:57:52 AM

It can be a good decision to buy Bitcoin as a newbie. Because I first came to know about Bitcoin since 2019, when I was in high school. At that time I invested my stipend money after learning about bitcoin investment from my elder brother. Although it was a very small amount, I benefited. Investing in small scale as a bitcoin newbie can give you inspiration in the future. Because I myself have benefited from it. And I feel very excited to invest in the future

I fondly remember the time when I had a lot of money and I used to spend a lot of money but I didn't have a good platform nor did anyone tell me that there was such a coin. Which later will be very expensive.

If I had known about this thing at that time, I would have saved every single money and bought Bitcoin. That is, our trend was not in this direction, our trend towards digital currency was only that we should make an investment in which all of us would have benefited, but we did not do that at that time, which we are very missing a lot of benefit.

Information is power. One of the easiest way to be wealthy is to get the right information at the right time. Just discussing similar issue with a friend recently. I was duped some money 4 years ago, if I had known about BTC then and I have invested the money on BTC, I will have made a good profit by now. But the information never comes. How good it is to get the right information at the right time.

snowpega

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Quote from: God bless u on January 26, 2024, 07:28:41 AM

I fondly remember the time when I had a lot of money and I used to spend a lot of money but I didn't have a good platform nor did anyone tell me that there was such a coin. Which later will be very expensive.

If I had known about this thing at that time, I would have saved every single money and bought Bitcoin. That is, our trend was not in this direction, our trend towards digital currency was only that we should make an investment in which all of us would have benefited, but we did not do that at that time, which we are very missing a lot of benefit.

The same thing reflects to my mind why I did not buy Bitcoin when it was trading at a very low price which maybe due to less popularity of this currency well no matter as there is a famous saying everything has the right time when it comes to your life so no matter if we are still late.

Now if you have accumulated at the good average price it can still return a good amount of profit So do not worry dear hope for the best we can still generate good profits. Wink

God bless u

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Quote from: Septex on December 06, 2023, 09:57:52 AM

It can be a good decision to buy Bitcoin as a newbie. Because I first came to know about Bitcoin since 2019, when I was in high school. At that time I invested my stipend money after learning about bitcoin investment from my elder brother. Although it was a very small amount, I benefited. Investing in small scale as a bitcoin newbie can give you inspiration in the future. Because I myself have benefited from it. And I feel very excited to invest in the future

I fondly remember the time when I had a lot of money and I used to spend a lot of money but I didn't have a good platform nor did anyone tell me that there was such a coin. Which later will be very expensive.

If I had known about this thing at that time, I would have saved every single money and bought Bitcoin. That is, our trend was not in this direction, our trend towards digital currency was only that we should make an investment in which all of us would have benefited, but we did not do that at that time, which we are very missing a lot of benefit.

MIner1448

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Your advice is quite reasonable. Starting with a small investment in Bitcoin, learning the basics of security, keeping your keys safe, and gradually expanding your knowledge along the way is a sound approach for beginners. It will also allow you to think in long-term strategy and market understanding.

Topic: First buy Bitcoin as a newbie, good way to start. (Read 1306 times)