Topic: Getting a good education on crypto currency needed before investing in it (Read 157 times)

This is what comes to everyone’s mind when bitcoin was first invented and people are being told to join in the space. In those days, when anything involves the internet and money inclusive in it, most people already term it scam because of the many incidents that have happened in the past as a result of scams getting away with by scammers through the use of the internet.

Fast forward to today, we now have more people who are computer intellect and have been able to leverage the opportunities in the internet space as technology keeps advancing which hasn’t left bitcoin technology behind in the quest. People now believe and have more trust in making money through the internet than they usually do without it, it has pave more way for more sustainability in their daily life course.

Those that are not still believing in the technology are just naive and not just ready to learn and flow with the current state of art in the technological realm in financial space. Anyone still denying and having doubts in crypto is not just it and are still way behind decades that we are in now.

The crypto market na general market where people wey get love, passion and the burning desire to get involved no matter any circumstances benefits from it after a long run, I came to understand that plenty people especially Nigerians join the crypto world through participating in airdrop, from there the journey starts. Not that some people are lagging behind, it's just that the opportunity and their exact time to plug in never come, everyone will get in when the time comes for them.

Also for knowledge and education, to me crypto na self educated system, if you are not the type that can sit and read for long hours, then don't bother about it -correct me if I'm wrong. You must discipline yourself, sit, learn, read, practice by actions and you acquire what you want. By doing so you'll eventually believe in yourself while others believe in you also.

Yeah, education is not left out when it comes to Cryptocurrency, and I've got to understand that their are people who recently picked Interest in Bitcoin maybe due to a friends success or success stories on from the media but don't really  have a good understanding about what Cryptocurrency investment is all about (especialy Bitco) and that's why you'll see them trading to accumulate more Bitcoin and claim they're Bitcoin investor, I've also come across people who still refer tp Bitcoin as Cryptocurrency in general not knowing that their are thousands of Cryptocurrencies apart from Bitcoin out their that falls under the category of Altcoins, Memecoins, some would even buy and hold Memecoins for long-term instead of Channeling that energy to Bitcoin. Therefore I think proper education and understanding about Bitcoin and Cryptocurrency at large is very important be an investor decides to take a bold step to invest on Bitcoin or any Cryptocurrency of their choice, that's why it's very important for some Newbies who doesn't have a good understanding about Bitcoin but  are opportuned to be in this from to use the opportunity they've got and search for threads that talk about Bitcoin investment and learn from experienced members so as not to make too much mistakes on their investment journey.

Crypto currency is filled with endless possibilities and opportunities, a lot of people are taking advantage of it while many are still lagging behind.crypro isn't something you can just jump into, you must put in effort to acquire the knowledge you need to become skillful in it. The problem with a lot of newbies is that they try to make it look like a ponzy scheme. It takes a lot of time to understand how the market moves and when to take advantage of those movements, if you study this carefully crypto won't seem like gambling to you.

That's true, and that should be a more reason why these people needs to understand that there is a huge big difference between Bitcoin and Altcoins, because of they may have invested Meme coins and lost it due to the high volatility of it. Next time they need to know that Bitcoin isn't as volatile as shitcoins. Hence, it is a coin to for long term investment.
However, most times I always tend to blame people who introduced newbies to Bitcoin investment, without the necessary basic knowledge to equip them on what to do when they encounter moments of fall in price of Bitcoin, as many might panic and  their coins at lower prices, forgetting the fact that it is a decentralized digital currency whose price always fluctuate due to market  demand and supply.

Plenty of us no reali start with the "good education" first before we buy our first BTC. In fact na the opposite wey we do, we buy the Bitcoin based on the orientation wey one or two OGs give up before we come start to determine learn about am. I remember that year, the guy just tell me say download trust wallet, the him come add other instructions and directions follow. Na we we take learn. Anyways sha, that one na informal education.

The best thing any person who wants to invest in cryptocurrency or in any other business can do, is to seek the knowledge first and such knowledge cannot come from the thin air, there has to be personal questions asked out of curiosity and there also has to be someone who can answer reasonably to clear any confusion.
I guess that is why a community like this is created, so as to educate those who are willing to learn on the subject of cryptocurrency and either don't have people around to teach them or they are much too private or shy to ask.

For you to succeed in any ecosystem, you definitely cannot undermine the importance of education, because that's the primary way to navigate through and be successful in any ecosystem but once the absence of knowledge is there, you are definitely going to suffer for it ,this cannot be overlooked when talking about crypto because same applies, you need the knowledge to be able to properly scale through the crypto space.

Some of the huge investment mistakes some persons have made both in the crypto space and other business can be traced to lack of complete knowledge about the subject matter or probably there have been an update they aren't aware of and that is causing them to lag and that is why getting the knowledge isn't just enough but continued growth and improvement is very much needed to be incorporated aswell, that way, you can navigate seamlessly without having to suffer so much hutches by the way.

In the crypto space you must learn before you earn, it's important to go for knowledge making money should be the on your mind only when you have gained mastery over the market. Understanding the dynamics and technicalities can make you earn from the market. A lot of people just dive into the market without trying to understand it first, they are just concerned about making money from it overnight but it doesn't work that way. For you to be profitable in the crypto space you must dedicate a lot of time to it and you must also be consistent.

People don invest in false information, rather they invest in bitcoin with wrong narrative or wrong speculation/information.  And anyone investing in bitcoin with a wrong narrative will never get a good thing in return, because he may be tempted to sell way too quickly.

This topic is not the only topic talking about how wrong speculation can misleed people, if you go to the beginner and help section and speculation section you will see several stories. But the focal point is that whenever a person is trying to introduce anybody to bitcoin, he should try to lay more emphasis on educating such person the risk associated to crypto investment, not only emphasizing on the gain and people will come with a mindset of becoming rich too quickly, and later get disappointed.

It depends on what you see as basic knowledge and what your intentions are on the crypto space... most noobs /newbie learn the hard way... basics of crypto isn't complex just that  most people come to the crypto space with wrong intentions... they want to make millions over night by just trading and that will make them hate crypto their entire life's... while some just want to invest but they want massive profit within a short period,they will  definitely choose a wrong coin/tokens  with their motive . We all know the right  coin here,not saying altcoins are completely bad but upto 90% of a capital should always go to the right coin (Bitcoin ) and maybe tiny percentage can spread across others.. so imo basics is just about knowing,setting up and depositing...learning is broad but basics isn't complicated.

Before investing in cryptocurrency, we suppose get basic knowledge about crypto, and we no suppose Dey follow Wetin people talk blindly. If person talk something about a particular coin, before you go put money for d coin, make u do your own research first, before if you just jump into am, then you fit no get d kin result wey you Dey look for. Plenty people wey Dey jump into crypto Dey always lose money, because why you go put money for Wetin you no get knowledge about, you just wan Dey make money easily, e no Dey happen like that now.

Before you introduce anyone to crypto, make sure say you tell them basic about crypto, tell them both d good and bad aspect of bitcoin, no just tell them d good aspect just because you want them to invest, if dem invest and Dey no meet d thing d way you talk am, Dey will be disappointed, and if they get scammed, then Dey will lose interest in bitcoin.

You just said the fact because I saw someone on the thread saying you don't need education to do crypto, I was like, 'ah, ah, even if it's just basic knowledge, you need it. No one said you should look for and study 'cryptology' for 4 years in the university. In anything you want to do in this life, whether it's physical trading or online trading or crypto investment, you can't just go in blindly. You need to ask someone ahead of you, 'What are the pros? What are the cons? How can I benefit? How can I position myself in the market? What are the possible mistakes that a newbie can make, and how can I avoid them?'

It's a blessing to have somebody ahead of you, someone who is more knowledgeable than you in a field, so they can direct you and make your path smoother. You wouldn't make the mistakes they made, and you will be able to get the bag faster. So, yes, that is just it. Having the basic knowledge you need to start out in crypto is very important so you will not make mistakes and end up having regrets and feeling like crypto is a scam when there are people in the space that are using it to make legit money and using it to push certain financial issues they face in this economy.  Knowledge is power. Just aim at getting the right education, and the right information in crypto to start out.

No, try to understand the angle the op of this thread they come from, you need good education no mean say you must use years study am, I believe say wetin him dy try talk is that you need the right education or information.

You know say one of the major problem we get in this country naija,  especially toward cryptocurrency na misinformation or wrong knowledge shared, and to tell you the truth for we country wey we dy so, so many  people still dy see crypto as scam or Ponzi scheme base on say when them been get the information about Bitcoin and crypto na the wrong information them been hear, so misinformation na one major thing the op is trying to talk about when talking about the getting a good education on cryptocurrency.

Then lastly, in other to succeed in any business or any field, your level education on that field na one major thing wey go determine wether you go dy successful in it or not, because having the right knowledge is key in everything you do.

When you say good education, e go come be like say you need to study about crypto well well before you go de reason to invest in Bitcoin or any crypto of your choice. Normally, People when still de reason say crypto na ponzi or say e no de beneficial na people when no really sabi how crypto take de work and possibly, because them don hear about the risk when de inside crypto and never pay attention to know say the risk na just based on the volatile nature of crypto and nothing more.

Knowledge about investment de very necessary but if you de wait make you gather all the knowledge finish before getting started, you might never start at all. One thing about crypto be say, as you continue to actively get involved for happenings for the crypto space, na the more you go de understand more things and if you de apply them one after the other, before you know, you go don sabi alot of things. If you reason say people already first you de for the crypto space and say them don de benefit from crypto already, the best thing to do na just to get the basic knowledge and possibly attach yourself to someone that is ready to carry you along and from there you go de learn small small.

The problem is that new people coming into the cryptospace thinks that bitcoin is a get rich quick scheme, and most Nigerians don't have the patience to wait for long in order for them to reap from the fruit of their labour, especially if the person does not have much extra funds on him to invest. I think that as an investor, who have the zeal and love to invest in bitcoin should be able to make his own research to gain more knowledge of what he wants to invest on or what he is investing on, so that he can understand how bitcoin works properly. The problem is that some people are just too lazy to make use of the internet to improve their knowledge on important things that they have interest in, but prefer to facebook and tiktok. Bitcoin is already popular in Nigeria, and it is easy to get the basic knowledge of bitcoin that is needed to start your bitcoin investment and hodli for long.

I think you don't need to be fully educated to invest in Bitcoin. If you think that it is a volatile valuable asset and you can get high profits as a result of investment then this little knowledge is enough for you. After that you should continue to deposit some amount from your discretionary income weekly or monthly. The DCA method is an ideal method of depositing Bitcoins for long-term deposits and a large holding over multiple cycles.

We only express our opinion about crypto scams but sometimes we can face a lot of losses in investing in real assets so if you decide to invest in bitcoins you have high profit potential but for that you need to deposit bitcoins in DCA method for long time interval. Should tend to do.

Crypto investment fear FOMO among folks is the biggest obstacle to them getting their high profits. If you can deposit bitcoins regularly the risk level can gradually decrease and you can get a large stash over time. When you enter the market through DCA you will be continuously educated about crypto and positively leverage your capital.

Many people till today is of the opinion that crypto is scam that is why they run away from it when crypto currencies like Bitcoin is mentioned. The question that normally comes to my mind is if the person is exposed to the crypto market and has this person been educated and gotten sufficient information about  the crypto market.

I have come to see that many people who are into crypto currencies investment like Bitcoin has no sufficient knowledge about crypto currencies and so they invest in the false information that was given to them by others and if they don't get return back on investment maybe due to the volatile nature of crypto currencies they become afraid of crypto currencies like Bitcoin. There's need to educate people about crypto currency before they do any investment on it.
What is your view on this topic let share our thoughts so we can learn new information about crypto currencies here.