Topic: FIVE TIPS EVERY BEGINNER SHOULD KNOW BEFORE INVESTING IN BITCOIN. - page 2. (Read 249 times)

In additional to starting small when you want to invest in cryptocurrencies (Bitcoin) is never to borrow money simply because you want to invest in Bitcoin, because that's the common mistake I have seen alot of person doing by borrowing money, while hoping that if they invest in Bitcoin today, in 1 week or a months time it will yield profit, which its never always like that due to its volatile nature.

And a good example of a hardware Bitcoin wallet is "Ledger Nano X" & "Trezor Model T", while a good software wallets include "Electrum, Trust Wallet & Mycelium", which are always very convenient, and easy to use.

I will suggest that if you wish to hold your Bitcoin for a very long period of time, there is no need to keep an eye on the market, as that can give you an unnecessary stress,  for me, I will suggest you go about accumulating your coin and forget about the market for like 5 or 10yrs.

Jimmy, I am really impressed with the arrangement of your post and your ability to reference the source. It seems you are skillful in writing and you are knowledgeable about Bitcoin. Every point you raised in this post is valid and they have the potential of helping newbies.
You are just a few weeks old in the forum, and you are creating a thread to lecture in the forum. You might be more knowledgeable than most of us but it might not be ideal, to begin with, a lecture thread. Some of the reasons are
1. Many members will not take it seriously because it will be assumed that you are new and inexperienced
2. It shows that you might not be willing to learn because you need to stay in the forum for some time so that you can learn before teaching.
3. How will you feel when a 10year old steps into a Ph.D. class and introduces himself as your lecturer?  The child might be knowledgeable but he might not get the right attention.
I think you should spend more time and study the forum before creating threads that have been repeated again and again.

It’s actually a good thing to always invest what you can afford to lose although with bitcoin it doesn’t mean you need to invest small but just a comfortable amount. Theirs is no need of looking too much into exchanges because even reviews can’t save some from hacks. Just buy and store your funds on wallets and you wouldn’t have to deal much with exchange problems.

It is not actually advisable to look too much into bitcoin chart of actual you’re into bitcoin for investment purpose. Looking too much into the chart creates panic which makes one uncomfortable to hodl for long. And this is the biggest tool to achieve profits in bitcoin. Only traders need to study the chart a lot.
 

Bitcoin has been a hot topic in recent years due it's high returns and potential for further growth. But it's important however to have a good understanding of the market and the risks involved before diving into the world of bitcoin investment . Below are five tips that every beginner should know before investing in bitcoin.

1) Do your research : Research is a vital key when it comes to investing in bitcoin. Before making any decision, it is important to amass as much information about the currency as possible. This includes learning about it's history, how it's  works and it's potential growth. Bitcoin is a decentralized currency that uses Blockchain technology to record transactions. Understanding how this technology works will help to understand the market trends. Websites like http://Bitcoin.org and http://Coindesk.com are great resources for keeping up to date on the latest bitcoin news and trends.

2) Always start small: As a first time bitcoin Investor, it is advisable to start small. Investing too much too soon can put you at risk of large financial loss. It is also important to choose a reputable exchange platform. Look for a platform that has good reviews and has been in the market for a while.

3) Choose a secure wallet: A wallet is where you'll store your bitcoins. So it's important to choose a secure and reliable wallet. There are different types of wallet (Hardware wallet and Softwares wallet) and each had its own pros and cons. Hardware wallets are more secure because they are offline and cannot be easily hacked, but they are also more expensive. Software wallets are easier to use, but they are still connected to the internet, which means that they are more susceptible to hacking . Do your research and choose a wallet that you feel.

4) Watch the Market : The value of bitcoin can be very volatile, so it's important to keep a close eye on market trends. One way to keep track of the market is to follow bitcoin news and expert analyses. Coindesk.com as (i have mentioned earlier) and other websites offer market tracking tools, such as graphs and charts, to help you understand the bitcoin market trends. You can also monitor your bitcoin wallet and keep an eye on the price of the cryptocurrency over time.
 
5) Prepare for Emergencies: Finally, it's important to be prepared for any emergencies that may arise. Bitcoin is a digital currency, and as such, it can be lost or stolen. In case of emergencies such as hacking or losing access to your wallet, you should have a backup plan to protect your investment. One idea is to create a backup plan by saving your private key on a secure device like a USB drive or another wallet. Always have a backup plan and a recovery procedure ready in case of emergency.    

In summary, bitcoin investment is not something to undertake blindly. It requires a lot of research, a disciplined approach, and a solid plan to protect your investment. Keep in mind that investing in bitcoin is still a risky, and it's important to stay informed and cautious at all times. You can use the links below to learn more tips.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.investopedia.com/tech/what-you-must-know-investing-crypto/&ved=2ahUKEwibw53T9rP-AhUY_7sIHYmcBjEQFnoECAsQAQ&usg=AOvVaw1wODBwBFRhGmdbu7-1_hxD

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.fortunebuilders.com/how-to-invest-in-bitcoin/&ved=2ahUKEwibw53T9rP-AhUY_7sIHYmcBjEQFnoECAwQBQ&usg=AOvVaw2RNYHWtbVRdp1TS1sw5JX5