First buy Bitcoin as a newbie, good way to start. - page 3.

Zanab247

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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.

Dailyscript

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Quote from: Vaculin on November 16, 2023, 04:56:47 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, 10:42:21 AM

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

Marvelman

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Bitcoin's pretty solid, I'll give it that. But c'mon, not everyone wants something so, I dunno boring? Big returns tempt people, even if its super risky and like when you hear your cousin's friend's wife scored crazy profits just by investing in 'DingusCoin at the right time or whatever. Gets the imagination going, y'know?

But those are all flukes. For every hail mary investment win, there's probably a hundred soul crushing defeats and lost wallets. Wisest thing is stick with semi-stable stuff mostly. Chasing pipe dreams ain't all its cracked up to be in the end. People forget that.

Sophokles

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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.

nurilham

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Quote from: Sebas.tian on November 19, 2023, 10:27:21 PM

I will not advice newbies to buy Bitcoin without having the knowledge of how Bitcoin work to favour investors in the community. There are many newbies in the community experiencing some pain, because they failed to learned Bitcoin before using huge amount of money to invest in Bitcoin and misplaced the seeds phrase of their wallets and the phone that carry the wallet was stolen, and all the money went, because he refused to learn many things about Bitcoin and cryptocurrency.

I agree with you. Although Bitcoin investment is quite safe investment, but having sufficient knowledge is a must for the security purpose. If newbies have no enough knowledge, they only guess everything about their Bitcoin investment. They don't know how to keep the Bitcoin in a safe way in the wallets, they don't understand how to set a target for taking profits, and they probably don't follow the current update about Bitcoin issues/news. It will be a risky investment, there is a big chance to lose money in this careless way.

Quote from: Sebas.tian on November 19, 2023, 10:27:21 PM

Start with small amount of money as a newbies, is advisable because it will help you to know so many things that will make you understand how bullish season look like for investors to make a good income, and how bearish season look like for investors to buy and hold for future purpose.

Of course, when we are newbies, just start with small funds. It is because newbies probably don't understand enough about the investment. Only use bigger funds when we already assume that we know well everything about Bitcoin investment and crypto as a whole. It is not only about understanding bullish-bearish, but understanding anything about crypto market as well.

Ricardo11

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Always need to know about bitcoin, there are many methods to learn about bitcoin, such as DCA method, from this method we can gain a lot of knowledge about bitcoin, we get a lot of idea about bitcoin, and it gives good education about profit and loss of investment in bitcoin. Apart from this method there are many other methods from which we can collect many important information about Bitcoin. We should always know about Bitcoin. So we can make a lot of profit by doing it better in Bitcoin.

Dripplurd

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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.

Boss that can not help us as a newbies that haven't yet have any idea about bitcoin, i use my self as an example that can not help me because as a newbie that i am i don't think i have gotten too much ideas about bitcoin, but i just hope that one day i will also find my sef in a position of a Legendary.

Sebas.tian

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I will not advice newbies to buy Bitcoin without having the knowledge of how Bitcoin work to favour investors in the community. There are many newbies in the community experiencing some pain, because they failed to learned Bitcoin before using huge amount of money to invest in Bitcoin and misplaced the seeds phrase of their wallets and the phone that carry the wallet was stolen, and all the money went, because he refused to learn many things about Bitcoin and cryptocurrency. Start with small amount of money as a newbies, is advisable because it will help you to know so many things that will make you understand how bullish season look like for investors to make a good income, and how bearish season look like for investors to buy and hold for future purpose.

Seinlocko

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

The suggestions you give are indeed doable and that's good too. However, I prefer to learn the knowledge first rather than investing the money directly. Because for me, prioritizing learning knowledge when investing in Bitcoin is the first step and foundation that must be prioritized. Because if you haven't learned the knowledge, how can you know how to buy it, how to choose a safe market, and how to choose a safer wallet. So in my opinion knowledge is very important and must be prioritized. So don't be too hasty in investing in Bitcoin. However, the most important thing is to first understand the science and systems within it. So when you want to make a purchase to invest it will definitely be safer and far from fraud.

Kalam001

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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.

I don't think it is a good idea to invest or buy something you know nothing about, it will be better for an individual to have an idea on what kind of business he or she is going into and also make a research about that particular product to be able to overcome any future opportunities, crisis and problems. My opinion is for anyone who wants to invest or go into Bitcoin business to first understand or find someone to guide and explain deeply for him or she to prevent or lessen loss of money,time or being scammed because even those who are into the business
for long do loose money sometimes and are being scammed too so it will be of anyone's interest not to go into the business without being careful or having knowledge of it.

Z390

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Buying Bitcoin first is a good way to start, but everyone has their own path ahead of them, begginers don't like ben told to invest in Bitcoin because they believe that they won't make a lot of money but Bitcoin is great choice for beginners because it's safer, beginners can easily lost their money investing in other coins aside from Bitcoin and since they are new they will not have the knowledge required to avoid scam projects.

I am.already seeing some people taking this advice in a wrong way, and I am not surprised, until they invest in some altcoins and they turn to scam, with the knowledge I have about altcoins I still fall victim to three scam altcoins this year, imagine that you are a beginner with just $100 on you and you invest this money on a scam project, it's over.

So this advice about going for Bitcoin first is not bad at all, altcoin investment takes some extra efforts in doing research and finding out if the project will survive or not, altcoins are generally to risk for crypto beginners, the chances of falling into scammers trap is very high bit Bitcoin isn't like that.

Dunamisx

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If you're a newbie and all you could keep getting are offers from people to draw you enter into what they themselves cannot survived going into, a newbie should not Invest on altcoins when he is still learning, nothing may come out of it than losing money in them just as you can can see examples with the past scam history from people around the world, try and learn something before doing something.

Odusko

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Some may take this advice in the wrong way, i don't blame them for having such an assumption about the ops point and the thread title is somehow misleading, but the content is very clear, which makes it easy to contribute to this topic on f discussion from multiple points of views and most especially based on personal experiences.
When you rightly jump in buying into Bitcoin without any knowledge of how the price movement market works, it becomes more risky because at that point you may likely jump in at the wrong time, maybe when the price is already high.

Jon_Hodl

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

Vaculin

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Winding down.

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.

The Cryptovator

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I won't advise investing in bitcoin without knowing it. Why should you jump on something about which you don't have proper knowledge? To know Bitcoin, you don't need too much time lately. Because of Internet connectivity, it's very easy to learn something we need. So gaining some knowledge before investing in Bitcoin is advisable. You can invest in your savings and avoid the high risk of losing your funds. If you treat Bitcoin as an investment opportunity only, then how will you learn the technical part of Bitcoin? Without knowing everything you need, you can't make the right decision in real time.

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Quote from: Rockstarguy on November 16, 2023, 05:31:35 AM

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

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.

Buying bitcoin as a newbie is good but the most important thing is for beginners to understand what they are dealing with. Most beginners don't really understand how the market is, they understand the the bitcoin market in their own perspective, that it will always favour them. Before a newbie spent his/her money to buy bitcoin it is important their is a proper understanding of bitcoin and how unpredicted the market is. No need to rush to buy bitcoin when their is no good understanding of the market, which can later make beginners to sell in regret. Most beginners always believe buying bitcoin profits can be gained in a short time which can be different from this.

Newbies still need a lot of education about Bitcoin how to protect their Bitcoin and also how best to speculate the Bitcoin market, all this contributes a lot to how successful newbies will be in their journey, so saying that should outrightly buy Bitcoin at a go even though there may be time to do so, but very important to know the current market position and what the six-month market cycle has been with bitcoin.
That way the newbies will reduce their risk level and the amount of time if they are only in for the short-term gain while they keep building their knowledge as far as Bitcoin is concerned.

Rockstarguy

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

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.

Buying bitcoin as a newbie is good but the most important thing is for beginners to understand what they are dealing with. Most beginners don't really understand how the market is, they understand the the bitcoin market in their own perspective, that it will always favour them. Before a newbie spent his/her money to buy bitcoin it is important their is a proper understanding of bitcoin and how unpredicted the market is. No need to rush to buy bitcoin when their is no good understanding of the market, which can later make beginners to sell in regret. Most beginners always believe buying bitcoin profits can be gained in a short time which can be different from this.

Dimitri94

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Those are new to Bitcoin I think they will be ahead in bitcoin. There will be many people who will know about Bitcoin later but they will also include them in Bitcoin. As a newbie we should focus on knowing first. The more knowledge that can be gained about Bitcoin, he will be attracted more to Bitcoin. One cannot become a Bitcoin investor with only money. It requires adequate knowledge.

A new investor can easily gain good knowledge about bitcoin especially joining forums on how to start investing in Bitcoin and how to maintain his holdings. Also, there is a lot of discussion here on how one can increase their portfolio by keeping a certain amount of money in Bitcoins. DCA is definitely a good method for all bitcoin investors which if followed will surely give him success in Bitcoin investment. There is also a good thread on the forum Buy the Dip and HODL for this which discusses how a new investor should hold bitcoins and the benefits of holding bitcoins for the long term.

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