First buy Bitcoin as a newbie, good way to start. - page 6.

Jegileman

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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.

I feel as a newbie, what is more important is to have the knowledge of bitcoin before you buy some bitcoin. If you jump into acquiring some bitcoin, you might end up losing it just when you thought you’ve invested your money into a good investment. Learn the basics, know the pros and cons of investing in bitcoin, know what to disclose and not to disclose to the public when you’re asked about your investment. Without a basic foundation of learning, all your work will become futile if you lose your bitcoin for being ignorant.

boyptc

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Quote from: Marvelman on November 05, 2023, 12:18:41 PM

A lot of new crypto investors go for altcoins instead of bitcoin. They think the cheaper coins mean they can get more for their money. Some folks wanna spread things out across different cryptos. They get hyped up about certain altcoins too. but they might not totally get the differences between bitcoin and altcoins. And the extra risks with altcoins. It's important for people just getting into crypto to learn and be careful. Bitcoin's definitely seen as safer and a good starting point for newbies.

That's the usual strategy that many does, it's for them to decide for what they're going to invest but nothing beats going first with Bitcoin.

The problem lies to it is that when they invest randomly and don't have time to search for what they're investing. That's when they think Bitcoin isn't worth it because of how expensive it is right now.

But little did they know, those cheap altcoins might be dead soon without even noticing it.

Broadanbig

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OP it is nice you had the opportunity and privilege to buy Bitcoin while as a beginner and you were able to hold while you learnt and continued your search in acquiring more knowledge on Bitcoin.. I believe as at when you got to know about Bitcoin, you had funds which you can call as spare cash and in that case, you invested in Bitcoin by making a purchase which spurred you into being more interested in learning about Bitcoin. That is very good of you OP but do you think it is every one that is privileged just like you then, currently people are just trying to see how they survive even here too. Although people do invest but it does not necessarily means that one must buy and hold before learning. One can still be in the process of learning to get more knowledge before buying vice versa both are still okay to go with mate.

GeorgeJohn

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Quote from: Pingrapole on November 05, 2023, 05:07:03 AM

Be sure to think before buying bitcoins as I am a newbie and have not got the guts to buy yet I am trying to know better but may buy in the future so I think the market is full of system If you do not have the knowledge, the chances of failure are high. The methods I learned above also require thorough knowledge I am trying to learn and understand a lot
All in all one should buy bitcoins but do not invest in the wrong place then maybe I will be successful with the way bitcoin price is going up I do not know if I am right.Another important thing in Bitcoin is to save the keys after purchase and keep it confidential then it is definitely possible to make a profit.

Buying a bitcoin is something of decision and determination, when you have the passion in bitcoin you will purchase a bitcoin either in long-term or short term, so I will say that if you continue to have fear in bitcoin investment their is no time you can invest in bitcoin, because its very obvious that nobody can learn it all about bitcoin, investment is a something of mind and choice and it have to do with two things either you lose or you gain, so profit is not guaranteed in cryptocurrency investment or in bitcoin investment, and when you want to buy more of bitcoin you have to calm down and went until its a time of bearish so that after your purchase a bullrun can manifest and you make your profit

Ojima-ojo

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Quote from: Pingrapole on November 05, 2023, 05:07:03 AM

Be sure to think before buying bitcoins as I am a newbie and have not got the guts to buy yet I am trying to know better but may buy in the future so I think the market is full of system If you do not have the knowledge, the chances of failure are high. The methods I learned above also require thorough knowledge I am trying to learn and understand a lot
All in all one should buy bitcoins but do not invest in the wrong place then maybe I will be successful with the way bitcoin price is going up I do not know if I am right.Another important thing in Bitcoin is to save the keys after purchase and keep it confidential then it is definitely possible to make a profit.

I have seen a lot of misunderstandings around this topic and I have read so many comments that contradict what was my original intention to use such words and and that manner, the fact is that, Bitcoin have given us free luxury of time, so for that, we can handle and learn along the way, I agree with the fact that one needs some level of knowledge and education before buying your first Bitcoin, but then also even a noble can be helped to hold bitcoin without any information or knowledge of the market.

All that is needed in such a scenario is for the nob to submit tame few instructions under the guidance of an experienced Bitcoin holder, and with that, the newbie can there after owning their first karosho the time to build knowledge as it relates to Bitcoin.

Odusko

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Quote from: Marvelman on November 05, 2023, 12:18:41 PM

A lot of new crypto investors go for altcoins instead of bitcoin. They think the cheaper coins mean they can get more for their money. Some folks wanna spread things out across different cryptos. They get hyped up about certain altcoins too. but they might not totally get the differences between bitcoin and altcoins. And the extra risks with altcoins. It's important for people just getting into crypto to learn and be careful. Bitcoin's definitely seen as safer and a good starting point for newbies.

Alot of the bewbies will also want to gain knowledge about the investments and how it works and when it comes to Bitcoin is very hard for you to see any of Bitcoin investors putting down their money without any prior knowledge of Bitcoin and what it stands for, some time because of the complexity of Bitcoin that always raise curiosity among it, potential investors.
So is very hard for us to say or tell whether this advice is right or wrong but from the ops explanation one can decode what it really means to buy Bitcoin before even gaining the in-depth knowledge of Bitcoin and how it works, so this is very important to know to better our u understanding of this topic and what the lesson therein it.

Marvelman

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A lot of new crypto investors go for altcoins instead of bitcoin. They think the cheaper coins mean they can get more for their money. Some folks wanna spread things out across different cryptos. They get hyped up about certain altcoins too. but they might not totally get the differences between bitcoin and altcoins. And the extra risks with altcoins. It's important for people just getting into crypto to learn and be careful. Bitcoin's definitely seen as safer and a good starting point for newbies.

Mpamaegbu

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Quote from: SquirrelJulietGarden on November 04, 2023, 10:48:30 PM

They are worrying about high price and high cost they have to pay to buy Bitcoin but they don't know they can buy any piece of Bitcoin like 0.5 BTC, 0.1 BTC or 0.01 BTC, even smaller.

They can, of course, even buy ⅒ of the least among your listed examples. Anyone can buy as low as $2 (or even $1, if fee allows) but the problem most newbies will have will be how and where to buy. Though it's much easier this day buying Bitcoin from either exchanges or P2P, it wasn't that way when I got on board in 2017. It wasn't easy buying because of the preponderance of scam.

There was something that happened then with my inability to buy Litecoin which was around $4 because I didn't know how to go about it. I was a greenhorn but my instinct told me its price would rise. I didn't know how to go about it and so I missed out buying. I hope our latest newbies don't run into such challenge now.

Marykeller

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

To be sincere to you, you started on the wrong note to acquire bitcoin. Just because you didn't fall into a scammer's way of defrauding people of investing in their hands, doesn't make it a good way to start investing in bitcoin without having the knowledge.

Some people started on the path you started(investing in bitcoin without the knowledge) and they lost their investment to bitcoin investment.

I have heard stories of those who fall victim to scams because they thought the knowledge of bitcoin is not necessary, investing in bitcoin comes first. They made the mistake of investing in bitcoin in someone's hand because of the promise of profits in a few months, storing their bitcoin on an exchange, and not keeping their seed phrase safe.

When the above-stated mistakes happen to them in a way they never expected they will call bitcoin a scam without blaming themselves for not having any knowledge of bitcoin first before investing in it

Essential10

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For new people coming into the crypto space, it is very important to get a good education and adequate knowledge. This gives them a basic idea of the proper process and what to do for a safe first exchange and no scam related disappointments. If not properly learned, crypto can lead to manipulation and other forms of deception and temptation. Register, test, and first understand Bitcoin or any cryptocurrency. Just because it's good, doesn't mean you can't understand or buy it. A comprehensive knowledge and support is required especially with the ever-changing cryptocurrency market conditions.

adultcrypto

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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 have a very long list of platforms that are ran through Bitcoin and most of them turn out to be scam. Participants of these platforms actually parade themselves as Bitcoin investors even when they don't hold the Bitcoin the invested into these platforms apart from random numbers generated for them by the platform founders. They only realise the folly of their decision when the platform crashes.

To be a Bitcoin investor require that you buy Bitcoin and hold in your private wallet where you control the private keys. This is the sure way to qualify as a Bitcoin investors as many other things people call investment in BItcoin are just mirage.

Pingrapole

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Be sure to think before buying bitcoins as I am a newbie and have not got the guts to buy yet I am trying to know better but may buy in the future so I think the market is full of system If you do not have the knowledge, the chances of failure are high. The methods I learned above also require thorough knowledge I am trying to learn and understand a lot
All in all one should buy bitcoins but do not invest in the wrong place then maybe I will be successful with the way bitcoin price is going up I do not know if I am right.Another important thing in Bitcoin is to save the keys after purchase and keep it confidential then it is definitely possible to make a profit.

Hatchy

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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.

Well op,if you're thinking about investing in Bitcoin, it's important to know how to keep your money safe. It's clear from what you've shared that you had some knowledge before buying your first Bitcoins, which helped you choose the right kind of wallet to store your funds. As a beginner, your first step is to learn about Bitcoin and how Blockchain technology functions. Once you understand that, you can buy a small amount of Bitcoin to get hands-on experience and understand how it actually works.

Cantsay

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I see so many loopholes in your posts that could lead newbies into losing their money. For me i would advise that they learn a few things first about bitcoin and also how to not lose their coin or wallet before they proceed to owning some.

If a newbie just comes into the crypto space without having a basic understanding of what bitcoin is then they’re most likely going to fall for some shit scams; from purchasing an altcoin with the name “bitcoin” to using a scam exchange to purchase their first coin. You story might be true for all that I know but I’m sure it won’t work well for everyone.

Luzin

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If i look at the story you wrote, it looks like you want to trade. So a beginner must be prepared to lose, even lose Bitcoin. If you are a beginner trading then you should learn, technicals, fundamentals and emotions. The fundamental way to see how news affects and emotions is how you should be able to control your psychology in making decisions. Master it from the ground up and light. Don't learn too hard at the beginning because maybe you will feel very difficult. Because there are so many things related to Bitcoinj. You have to study patiently.

Plaguedeath

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

I won't talk about someone who clearly doesn't know about Bitcoin, Average Joes aren't even know the difference between personal wallet and exchange wallet. That why most people hold their coins in exchange wallet, but you're know the difference? Grin

If the Average Joes have money and they want to start to invest, I believe they will choose centralized assets first e.g. stock, gold, etc and if they have interest with cryptocurrency, they will try to buy shitcoins.

Most people who buy Bitcoin are mostly understand what is Bitcoin in the first place.

Poker Player

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Quote from: Dzwaafu11 on November 04, 2023, 10:42:34 PM

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

I don’t think what you said here is true. How can you be a total newbie to bitcoin and go and invest without any prior knowledge of how the investment goes? You said that you store it in your personal wallet, which I think a total newbie won’t know about. Most newbies mostly store their first bitcoin in exchanges...

Sounds like a made-up story to me to get merit. It would be nice if he specified what kind of "personal wallet" he used, because if it was a custodial wallet it's not a great idea, and if it's not, there are only two types: a paper wallet which is almost impossible for a newbie to have made, or a HW which is unlikely. He says he was a student when he bought. How much was he able to buy? $50? and did he spend more than that previously on a HW for his first purchase to have it available? Sounds pretty unlikely story to me.

michellee

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People who want to buy Bitcoin must have their own way. And your method is good for those who want to invest in Bitcoin. They can follow the method you have used so they don't need to delay buying Bitcoin.

By purchasing Bitcoin in the minimum amount allowed by the exchange and doing it regularly, they can immediately own Bitcoin. And they can also continue investing in the DCA method while learning more. However, most people will still delay investing in Bitcoin due to various considerations.

Maybe they will invest in Bitcoin once they are truly ready. Who knows when they will start becoming Bitcoin investors? Only they know. The important thing is, before starting to invest, learn the basics needed so that they can make the right start.

Husires

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Other than the basics of learning Bitcoin, such as how to set up a wallet, store seeds, how to send a transaction, and basics about the economy and Bitcoin, you do not need in-depth technical knowledge to buy Bitcoin, and since the price of Bitcoin continues to rise, after obtaining the basic knowledge, it is better to buy Bitcoin until you learn more, such as how to allocate fees. Broadcast the transaction to be confirmed in the shortest possible time and prepare a multi-signature wallet. Buying first and learning later is a good strategy.

Zanab247

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As a newbies having the knowledge of BTC before buying BTC is the best way to grow higher in this BTC investment because, a lot of newbies has experienced massive losses in their investment just because they just followed crypto investors to buy BTC from the market without knowing when to sell to make a suitable profits at the end. If you have fiat investment knowledge, you still need to learn a lot of things that related to BTC investment before you will be able to do well in your BTC investment because you must learn when to buy and when to sell your BTC which are very important to newbies to know in the community.

You can invest in BTC when the price is low in the market and, continue learning from potential crypto users in the platform and it will help you to grow on how to make a good choice in some potential coins that will bring you good profits.

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