Topic: Getting a good education on crypto currency needed before investing in it (Read 265 times)

Getting educated isn't bad mostly to those new investor who wants to invest on crypto but aside been educated They should understand and also develop a sense of how the curreny work before investing mostly  those who are new to the system.And is because when you understand how the curreny works you also know the risk involved so you don't blame anyone or the person who has educated you on crypto or think crypto is a scam 

your topic is just reminding me about one of my friend i introduce about crypto currency, it took me weeks to convince him on how her Bitcoin cryptocurrency works and the benefit he will got when investing on crypto currency and he reply to me that all this online stuff is full of scams.
But today he is the calling on phone that i should come nd teach him more crypto currency that he is interested now.
So i travel down to him just to teach him all about crypto currency, i must say i love this information u just dropped because i have witness it before.

Plenty people don hear about bitcoin, but amongst these people, dem no plenty wey really understand am, some think say na wetin dem fit just use make quick money, that is them think say na get rich quick scheme, others think say na scam or ponzi. That being said, if you dey interested in bitcoin, or any other thing for that matter, it only makes sense say you try understand am before you get in, you no go blindly carry your money put for somewhere, when you don't actually understand what you are doing.

Generally knowledge is profitable in life and in all ramifications, anyone that is not informed is apparently deformed, knowledge is power, it is curiosity that lead people venturing in to the unknown to know hence it is always advisable not to get involved into what we don't have any knowledge about and most importantly the basic that will give enough guide and preparation of what is ahead, with a good knowledge we don't make assumptions but  making researches, when it come to the crypto space undoubtedly having a good knowledge will help in making an informed investment decisions.

How’s is it even possible going into something you literally have no knowledge about and expect not to end up doing it wrong? As far as I’m concern, in the crypto space you need the knowledge to be able to successfully trade and make profit. Otherwise you’ll end up losing your money. And then such person will end up assuming cryptocurrency is a scam or isn’t real.

Why on earth will anyone invest into sometimes that they don't understand yet. Buying with fomo is a wrong way to invest. You must not understand everything but get a little idea of what you're investing into.

We need to do this so when challenges comes like the market correcting, you're already aware of things like this and you won't be among those scared and acting like the market is going to collapse.

People with no proper lecture on crypto shouldn't be investing but still we're going to have some people blindly investing especially as we get to the bull season that an inflow of newbies is going to be at its peak. G

Getting a good understanding of anything you want to invest into is always vital and needed by every investors, don't rush before we make mistakes that'll cause us profits or loss of our investment.

You are right, the reason why some people find it difficult to understand Bitcoin is because they always think that Bitcoin is something that if you join today tomorrow or next week you will become rich, although there are some people wey no still believe Bitcoin but I see those people as an illiterate people because if someone is well educated and he or she will not come out and say that Bitcoin is a scam or something that is not good to do, Bitcoin is very good and it help many people who understand it.

Anybody wey think say to invest in Bitcoin mean say person go become rich quickly na lie and that person need to calm down because over dey no good, Many newbie find it difficult to understand because the way Bitcoin is introduce to some of them always think that Bitcoin na something wey dey easy, it will be better if anybody that is interested in Bitcoin to do more research about Bitcoin so that the person won't complain.

Investing on Bitcoin does not necessarily need those professional or extravagant knowledges before beginners or anyone can invest on it.

It is not like the cryptocurrencies which potential values background can be complicating to determine the through essence of how its market volume is achieved unlike Bitcoin obviously known to behold upon demands and supplies.

Also, investing on Bitcoin may basically require adoptors to understand that your potential approach to make profits may not happen so sudden but it long time while holding our assets. That is also less technically knowledge required when we talk about trading.

On simple response, being aware that you would not get reach overnight while invested on Bitcoin is okay and setup an accounting strategy so also, don't rely your source of income only on your Bitcoin investment.

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.