First buy Bitcoin as a newbie, good way to start. - page 2.

Sebas.tian

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Quote from: Mate2237

How can you invest in bitcoin without knowing the basic knowledge of Opening wallet and buying and selling of bitcoin and how bitcoin works. Op your story is not really clear for me.

Investing your money on Bitcoin without acquiring the basics knowledge of Bitcoin before taking such risk, it can lead you to lose your money to scammers that will make you to avoid such investment in the community without knowing that you're in the right investment just that you lack basic knowledge of Bitcoin. I think, the OP is trying to advice the newbies to have little knowledge of cryptocurrency before taking a step to buy and hold to see what will come out from it when the bullish season appear. But if you advice newbies to start investing money on cryptocurrency without little knowledge of cryptocurrency, it will make such newbies that will take your advice to regret for the wrong advice given to them.

Rockstarguy

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Quote from: Septex on December 06, 2023, 10:57:52 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

The best decision is for a newbie to take is to start cryptocurrency investment with bitcoin because bitcoin is more reliable and the risk involved in investing bitcoin compare to other cryptocurrencies is very low. The reason why beginners must choose bitcoin as investment is because bitcoin leads in the cryptocurrency market, and this will be a good start for beginners to use experience and knowledge of bitcoin to go about other investment.

Other cryptocurrencies are very risky when it's compare to bitcoin and because of how many altcoins in the market are not reliable it will be better for beginners to invest in bitcoin to secure their money and invest in something that is safer, after getting more experience and knowledge about the market they can choose to add some altcoins to their portfolio based on research .

Mate2237

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Op did you also learn the subject or course you studied in school at home before study it in school or are you a college certificate holder? I hope you understand this my one line sentence perfectly? All why I mean did you study before you go to school? Definitely not. Op I must tell you, you must learn before investing and if not you will enter into scammers hand for them to use you to shine first before your eyes will open.

How can you invest in bitcoin without knowing the basic knowledge of Opening wallet and buying and selling of bitcoin and how bitcoin works. Op your story is not really clear for me.

Ojima-ojo

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Quote from: GeorgeJohn on January 23, 2024, 05:44:10 PM

The best thing a beginner in cryptocurrency investment especially Bitcoin can do is to learn the procedures of Bitcoin and the understand the concept of Bitcoin fully before going into the investment because when you have not understand fully the concept or the basics of Bitcoin you will not be able to make a profit because you might invest in the wrong time and it will lead you to lose for the investment. Many people today who is into cryptocurrency investment do understand the concept before they purchase a Bitcoin currently some people examine the procedures and also know the chat of Bitcoin through the moment of the candlesticks before they come purchase for long-term investment

So I was speaking with a few of my mentees today and while we were talking I discovered one of them had a spear cash at hand and was looking to where to put the money for long-term savings, I talked with him and later made him to understand the importance of buying Bitcoin at a discounted price, because right now bitcoin is at it discounted price and at that will continue to gain the right momentum to sustain the market for a long term gain.

For anyone who is looking to how best to ver in, now is one of the best times to gain that entry profits, because in the next couple of months from now, the Bitcoin network is going to undergo a network half which will reduce the total Bitcoin reward per block which is going to trigger scarcity in the price of bitcoin.

GeorgeJohn

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The best thing a beginner in cryptocurrency investment especially Bitcoin can do is to learn the procedures of Bitcoin and the understand the concept of Bitcoin fully before going into the investment because when you have not understand fully the concept or the basics of Bitcoin you will not be able to make a profit because you might invest in the wrong time and it will lead you to lose for the investment. Many people today who is into cryptocurrency investment do understand the concept before they purchase a Bitcoin currently some people examine the procedures and also know the chat of Bitcoin through the moment of the candlesticks before they come purchase for long time investment

2Pizza410000BTC

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Quote from: Ojima-ojo on November 04, 2023, 05:58:28 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.

OP you are right I agree with you because if a newbie starts investment journey with small amount of bitcoins then surely he will know all the tricks of investment with his small amount of bitcoins. Because new investors don't know how to hold the investment so in this case if a new investor starts investing with a small amount of Bitcoin then the investment path will be much easier for him later. He will understand how to save wallet, how to hold, how to increase investment in DCA method. People do not learn everything at once so everything has to be learned slowly.

Inwestour

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Quote from: DaNNy001 on January 01, 2024, 02:42:27 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.

Games.Bitcoin

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Navigated the crypto world require the newbies to acquire fundamental knowledges, and a proactive learning approach is crucial given the fast-paced nature of the market.. Comparing Bitcoin to a sturdy bike for beginners, the analogy highlights its relative stability and suitability for those new to the crypto space . The strategy of Dollar Cost Averaging (DCA) is advocated as a wise investment method , allowing individuals to invest steadily while acquiring valuable insights.

Kalam001

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Quote from: Ojima-ojo on November 04, 2023, 05:58:28 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.

I don't think it is a good idea for someone to invest or buy Bitcoin when he or she knows nothing or have an idea about it, it is very important for an investor to know a lot about what he or she want to purchase for the purpose of knowing how to tackle any obstacles that come in the future. And also it might be the wrong time to buy Bitcoin because just like any other coins there is a particular time that the price and value of Bitcoin is not stable and can't be predicted when it will add or loose value.. So advisably It is preferable to first understand and make research about Bitcoin before embarking on purchasing or investing in it.

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Quote from: odunybiz on December 07, 2023, 09:35:58 PM

Quote from: jrrsparkles on November 04, 2023, 06:30:32 PM

Never invest in anything that you have zero knowledge even if it's Bitcoin.

OP isnt a newbie just as @Zaguru12 has said. He may be newbie in the forum then but has gotten enough knowledge from someone about how Bitcoin works. Most newbies doesn't have knowledge about exchange and some even do anyhow with their keys. Just like OP has said, it's a nice idea starting with Bitcoin as a newbie but you need little if not much about Bitcoin to get started so that you won't be risky your hard earn money on something you know nothing about.

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.

Ojima-ojo

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Quote from: odunybiz on December 07, 2023, 09:35:58 PM

Quote from: jrrsparkles on November 04, 2023, 06:30:32 PM

Never invest in anything that you have zero knowledge even if it's Bitcoin.

OP isnt a newbie just as @Zaguru12 has said. He may be newbie in the forum then but has gotten enough knowledge from someone about how Bitcoin works. Most newbies doesn't have knowledge about exchange and some even do anyhow with their keys. Just like OP has said, it's a nice idea starting with Bitcoin as a newbie but you need little if not much about Bitcoin to get started so that you won't be risky your hard earn money on something you know nothing about.

Just seeing this replies now, and you are right, at the time of creating this thread, i was still a newbie, both in the forum and in crypto currency and from that time till now there have been big difference in the level of my knowledge and experience in the crypto currency industry a d for that i have better knowledge and understanding on the best way to effectively invest in Bitcoin as a newbie, there is no gain saying that Bitcoin is the most secured investment start-up for newbies and i don't regret my earlier thought on owning your first sats before gaining the knowledge and in the context at which i make that statement in in the fact that owning your first Bitcoin is already a basic knowledge in itself which can give you enough time to take the slow solid steps along the ways since you are investing on a long terms perspective.

When i say first buy you Bitcoin before gaining the know, what i mean is the secondary knowledge on Bitcoin investment such as DCA and trading or all the other profits making features that comes along with Bitcoin investment, that require additional knowledge aside just holding in you own wallet which is a primary step in Bitcoin.

odunybiz

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Quote from: jrrsparkles on November 04, 2023, 06:30:32 PM

Never invest in anything that you have zero knowledge even if it's Bitcoin.

OP isnt a newbie just as @Zaguru12 has said. He may be newbie in the forum then but has gotten enough knowledge from someone about how Bitcoin works. Most newbies doesn't have knowledge about exchange and some even do anyhow with their keys. Just like OP has said, it's a nice idea starting with Bitcoin as a newbie but you need little if not much about Bitcoin to get started so that you won't be risky your hard earn money on something you know nothing about.

Septex

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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

Obim34

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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. Being knowledgeable, you should know how to handle and secure your phrase and keys because that alone can give you access to your Bitcoin not everything you wait to be thought or read books and magazines or either learn from the internet, it works with common sense.
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

Awaklara

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Quote from: Luffygroove on December 03, 2023, 08:11:27 AM

Absolutely! Starting in the crypto world, it's smart for newbies to grab some basic knowledge first. Since crypto moves fast, diving in early while learning on the go is key for success. Think of it as riding a bike, you learn by doing. Using a gradual approach like Dollar-Cost Averaging (DCA) lets you invest while steadily gaining expertise. Now, choosing Bitcoin as a first investment is like picking a sturdy bike to learn on, it's relatively safe, not too wild in its ups and downs. It's a solid starting point for newcomers to dip their toes into the exciting waters of crypto.

For trading, maybe the method you mean is quite good. but for investment, this method is not appropriate.
there is a strong psychological aspect that an investor must have. if a beginner is without good emotional control and faces a surprising market situation, it will only bring panic. gather all the knowledge and experience, and just get started. experiences are not only those that we experience but those that other people experience that we can also take as experience.
after truly understanding how to invest in crypto. start gradually, and it will get better.

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Quote from: Sophokles on December 02, 2023, 06:16:07 PM

Bitcoin is the best and least risky crypto in this industry but you need to understand that everyone is not looking for a safe investment asset. I think many people were amazed by the ROI made by bitcoin for the early investors who bought it when it was super cheap. Now many new people think they can find a new project that can give them a similar ROI or at least a fraction of it within a few years. I think this led them to invest in projects outside of bitcoin even though they have a high level of risk.

Hypes projects are an example that makes many investors search for other projects that will turn into hypes. Honestly, what happened to meme coins brought something different, especially for the newcomers. They will think that investing in crypto is an easy game and instant rich until the time has come that they will know the truth behind those huge earnings and ROI. And that is also the time they will find out that Bitcoin is far better than these hype projects. Not just because of its use case but also, because of its profit potential in the long term.

Luffygroove

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Absolutely! Starting in the crypto world, it's smart for newbies to grab some basic knowledge first. Since crypto moves fast, diving in early while learning on the go is key for success. Think of it as riding a bike, you learn by doing. Using a gradual approach like Dollar-Cost Averaging (DCA) lets you invest while steadily gaining expertise. Now, choosing Bitcoin as a first investment is like picking a sturdy bike to learn on, it's relatively safe, not too wild in its ups and downs. It's a solid starting point for newcomers to dip their toes into the exciting waters of crypto.

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Quote from: Vaculin

That is a risky move as you enter an investment without prior knowledge on the background of your investment, and you have no idea if that investment will really work or not. I prefer to do more researching first and when I have sufficient knowledge on the type of investment, then that's the best time to invest and risk my money. Although I'm not saying that your strategy will not work, but based on my research, there will be higher rate of success if you know your investment well first before you decide to risk your money and time.

Knowledge is profitable in anything you are doing and, if you don't have the knowledge of cryptocurrency don't invest your money until you acquire the knowledge before taking a good step as a newbies to invest and hodl for the bull season to come before you can sell. Carry out your research is part of the knowledge we are talking about here because, that research will help you to know so many things that will make you to make a right decision to invest in a potential coins that will bring you double profits at the end.

I don't think I can put my money on any business without having the idea or knowledge about the business, but if any newbies try such a thing to invest money on cryptocurrency without acquiring the knowledge, it will make such person that took such steps to go through a lot of things that will make him feel that the business is a scam business like the way some newbies who don't have the knowledge of BTC are calling BTC a scam currency because they failed to learned the use of BTC.

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Quote from: Vaculin on November 16, 2023, 05:56:47 PM

That is a risky move as you enter an investment without prior knowledge on the background of your investment, and you have no idea if that investment will really work or not. I prefer to do more researching first and when I have sufficient knowledge on the type of investment, then that's the best time to invest and risk my money. Although I'm not saying that your strategy will not work, but based on my research, there will be higher rate of success if you know your investment well first before you decide to risk your money and time.

Your right. For a pleb like me. I need more research and findings that will help me manage my investmet. I do not plan to loose the little money i have and put in Bitcoin when i have low expereince. The worst part is that, i still have strong emotions attached, if i lose money because of investemnt. Nevertheless, am willing to invest now, but since i cant manage my investment for now. Ill meet my freinds qho are already good in it to guide me or manage the investment for me.

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Quote from: Jon_Hodl on November 18, 2023, 11:42:21 AM

Quote from: Ojima-ojo on November 04, 2023, 05:58:28 PM

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.

Everybody has a different journey down the rabbit hole. Some people buy for privacy. Some people buy for security. Some people buy to escape regressive government. Some people buy just to "get rich".

No matter what bitcoin is to you and how you choose to use it, enjoy your own journey even if that means 100% KYC and 100% third-party custody while you learn what bitcoin is and how to use it to fix your own problems.

it's true that all you say, there are many reasons for people to buy bitcoin, and the average reason people invest in bitcoin are to protect their money from inflation and secure their assets from government monitoring, regardless of whatever reason someone invests in Bitcoin. Bitcoin will always provide huge profits to anyone, especially for those who make it a long -term investment. Never think that Bitcoin is dangerous, usually people who are contaminated from the news of Bitcoin FUD will always be like this.

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