How can I start investing in Bitcoin? - page 4.

Luzin

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Quote from: odunybiz on December 16, 2023, 06:13:58 PM

What is the purpose of creating a reputable cryptocurrency exchange? Is it to buy the Bitcoin or for him/her to keep his/her Bitcoin savings? Remember saving your Bitcoin in an exchange is a very bad idea for ones security issue.

The best option is to store in hardware. Saving in trading is not recommended. But you have to know that currently the cost of moving balances is quite expensive, especially Bitcoin. So there are other problems, but maybe using another network could be a solution. But I'm sure most people are happy to keep Bitcoin for investment. Even today I also keep some of the assets I trade in exchanges, even if it's just a little bit. If you are starting out, it's good to start with small money. After that you will learn other problems related to trading investments.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

It's better you start now because there is no need for procastination on Bitcoin investment. The more you keep procastinating the more the price keeps increasing, there by making you think bitcoin price is too expensive to buy. But if you apply the formula of buying small small you will achieve your goals. Because no amount of money is too small to invest. And also no time is too late, but lateness will only increase the amount you would have invested for long to be X2 or x3 on current investment

odunybiz

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Quote from: Bushdark on December 16, 2023, 01:21:37 PM

Quote from: krista222 on December 16, 2023, 10:13:42 AM

To start, create an account on a reputable cryptocurrency exchange, like Coinbase or Binance. Educate yourself about Bitcoin's volatility, its market trends, and consider your risk tolerance before investing. As for January 2024, predicting Bitcoin's future value is uncertain. It's essential to consider market conditions, global events, and your investment goals. Diversification and consulting a financial advisor are prudent practices before investing in any asset, including Bitcoin.

There is no need for us to create an account on exchanges because of the risk we might incurred if anything eventually happens to the exchange. We can buy Bitcoin anywhere so there is no need for us to go to an exchange before we can buy and keep Bitcoin of our own.
There are many ways we can make profits from the market which we don't need to stress ourselves. Bitcoin is a volatile cryptocurrency and that is what everyone that is planing on investing in Bitcoin should do. We need to invest wisely and not invest in a way that we might lose our Bitcoin portfolio.

What is the purpose of creating a reputable cryptocurrency exchange? Is it to buy the Bitcoin or for him/her to keep his/her Bitcoin savings? Remember saving your Bitcoin in an exchange is a very bad idea for ones security issue.

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Quote from: Franctoshi on December 14, 2023, 02:38:25 PM

Op, all depends on your investment plan and availability of investment capital, so if you have your funds ready come January 2024 then you're starting at the right time because we are about to kick-start the next phase of the bull market. Secondly, I will suggest you take the few weeks left until the end of 2023 to look into how Bitcoin works, get the education and knowledge about the asset you want to put your hard-earned money, it's necessary you go for Bitcoin education if you haven't, to understand and know the risks involved with the asset before starting your investment, so you don't risk more than what you can afford to lose in the market.

Every business operation revolves around planning: first, how to obtain capital; second, how to carry out the investment plan the business has. In my opinion, the business should have planned all of this earlier because investing now won't yield a large profit because nobody can predict the exact nature of the market. Just some weeks to go and the halving will shake and restructure the entire market. And the restructuring comes with benefits. And that will even lead to bull run that everyone has been waiting for. Making money is the main motivation behind investing. And the portion of knowledge that people don't rely on is what's hurting company; people don't want to take things seriously, even if it means losing assets, which is terrible.

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Quote from: krista222 on December 16, 2023, 10:13:42 AM

To start, create an account on a reputable cryptocurrency exchange, like Coinbase or Binance. Educate yourself about Bitcoin's volatility, its market trends, and consider your risk tolerance before investing. As for January 2024, predicting Bitcoin's future value is uncertain. It's essential to consider market conditions, global events, and your investment goals. Diversification and consulting a financial advisor are prudent practices before investing in any asset, including Bitcoin.

There is no need for us to create an account on exchanges because of the risk we might incurred if anything eventually happens to the exchange. We can buy Bitcoin anywhere so there is no need for us to go to an exchange before we can buy and keep Bitcoin of our own.
There are many ways we can make profits from the market which we don't need to stress ourselves. Bitcoin is a volatile cryptocurrency and that is what everyone that is planing on investing in Bitcoin should do. We need to invest wisely and not invest in a way that we might lose our Bitcoin portfolio.

krista222

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As for January 2024, predicting the market is challenging, but if you're considering it, using a reliable platform like Cryptex https://cryptex.net/en/trade might streamline the process. Cryptex Broker stands out for high-volume clients, offering access to substantial FIAT and crypto reserves outside typical exchange services. This personalized service allows for instant, automated trading with significant asset volumes. It ensures efficient order completion, even when immediate execution faces volume constraints.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Speculating if cryptocurrency is suitable investment to engage into?
Ask yourself these questions:
¡. How well do you know the crypto world
¡¡. Can you handle the risk it comes with?
¡¡¡. Do you have a side gigs to always bring you back up when you lost a trade?
If you choose to invest considering the factors above, then you should note this:
a. If you want to invest into crypto, particularly bitcoin, you should know the value of blockchain and why theory like mining and cryptography hash (decoder which receives variable length to return output of a fixed length) are of great value to its function.
b. Also, one of the important fundamentals is staying up wth crypto trending news.
After your observation about how the economic work, ask yourself "am i sure it value will ascend?", If you doubt your instincts then don't do it.
c. Be ready for market fluctuation because crypto is highly volatile.
d. It is also suggested that one should have a specific strategy on how to approach the market.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Whenever you start investing in bitcoin, it's a good idea as long as you will be holding for long term, then i don't have problem with that, since bitcoin halving will be next year, and we are always expecting a bull run after the halving, actually no one is sure when the bull run will be coming, but we are expecting it after bitcoin halving, but don't think it will be next year, no one knows. so if you can start your investment by January is not really a bad idea, don't think you are already late to bitcoin investment, as we all can see, bitcoin price is till kind of low to me, just hold and see what's going to happen in the next bull run.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

I'm a bit confused by this. Yes, as long as you have the capital to invest and understand the cycle or pluses and minuses, then just invest. Make sure you find a trusted exchange in your country so you can make a deposit to that exchange. In fact, this is what often happens, namely choosing a fake exchange or trusting scammers to invest so that we end up losing our money. So, be careful in choosing the exchange platform. If you have found it, just buy the Bitcoin, then save it according to your desired target. Don't be disappointed if the price suddenly drops because Bitcoin prices are volatile

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

If you already have knowledge about bitcoin and have confidence, there is no need to wait until January to buy bitcoin, do it now before the turn of the new year, because for me the sooner the better, I also don't see any signs of bitcoin going down again.

Because to be successful, you need to make a plan and work towards it. Investing is still the smartest way to prepare for the unexpected. For anyone who wants to get started, the good news is that it is never too late to start. Creating wealth and gaining financial freedom is not as difficult as many people think. Because bitcoin investment is the only true way to earn big income in the future.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Surely many people will ask why not just start investing now? Maybe you have another reason to start investing in January 2024, the reason I got is, in January you will get more money, whether it's a year-end bonus from your job or from other sources, if you feel that's the right practice for you, just do it.

There is no guide on when to buy, there is a guide where you have to learn a lot about bitcoin, how to store assets well, choose a safe wallet, namely a hardware or software wallet and several other materials needed for an investor who is starting out. .

So if you are able to start next year, it's not a problem, keep buying bitcoin using the DCA method, it will be better for beginners.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Well, as long as you have spare money to invest in bitcoin for long term, then investing anytime of the year is very welcome. But I should be honest to you that it could be a lot better if you enter the market while bitcoin is cheaper so you can maximize your initial purchase and expect bigger profits when you decide to sell them during bull run.

But if you really want to invest early next year, then that is not really a problem. Just be patient always so you won't be tempted selling when the price drops so badly and end up seeing you in losses.

Franctoshi

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Op, all depends on your investment plan and availability of investment capital, so if you have your funds ready come January 2024 then you're starting at the right time because we are about to kick-start the next phase of the bull market. Secondly, I will suggest you take the few weeks left until the end of 2023 to look into how Bitcoin works, get the education and knowledge about the asset you want to put your hard-earned money, it's necessary you go for Bitcoin education if you haven't, to understand and know the risks involved with the asset before starting your investment, so you don't risk more than what you can afford to lose in the market.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024

It is much better for you to take the opportunity now to invest because the most important thing is not whether the practice is good or not but rather the availability of capital and strategy when you want to get involved in investing. Of course not only that because knowledge is needed when you want to invest and forcing investment without understanding the journey of bitcoin will create a big risk impact for you personally. Prices can change so quickly and we will continue to live a four-year cycle, that's how bitcoin continues its journey in the market that we need to understand.

Remember that price fluctuations can give you a sense of excessive worry and ultimately limited knowledge can have a detrimental effect. It is not recommended to invest without knowledge and I am sure you understand this problem because there are no real newcomers when they get to know this forum.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

We are about entering into the bull market, but what you have to understand bitcoin is that bitcoin is risky and if you are investing you have to invest with the amount you know it won't hurt even if you lose it. Do not rush into Bitcoin investment because Bitcoin can give you profit. You need to question your self if you want to invest in bitcoin if you can have patience to hodl because this is the main thing that determine if you will make profit in you investment. Try as much to understand how the market of bitcoin exist for you to make a better decision that will be good for you when you want to invest in bitcoin.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Regarding your question I answer about way how to start investing in bitcoin, I don't have capacity for teaching you about technical way in bitcoin trading. First you have make decision with how much capital use for investing in bitcoin and will use cex or dapp for your investment in bitcoin. If you want invest bitcoin in CEX exchange you need to see are your local exchange market supported with bank local deposit or not? You can make deposit trough your local bank to local exchange market and check minimum amount require for trading. In Binance should have $10 capital for trading on all coins including with bitcoin, but Binance must verify document ID firstly before available for deposit, withdrawing and trading bitcoin there.

Litzki1990

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It is important to know how much money you decide to invest in Bitcoin in the first place. Since you want to know how to directly invest in Bitcoin, we can assume that you have little knowledge about investing. If you really don't know much about investing then first get an idea about investing in Bitcoin and also try to get a real idea of investing by investing some amount of money. After gaining enough knowledge about investing, buy bitcoins with the amount you want to start investing with and keep holding that investment. After investing, you may see a temporary loss of your investment capital due to the volatility of the market, but you must be patient and trust your investment.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

My first question is, why wait for next year if you can invest now?
If the one that hinders you is the lack of knowledge about Bitcoin then yes I guess you can delay it, and invest next year, but if you have a bit of knowledge already that will help you then why choose to invest next year if you can do it now?

The more you delay it, the more opportunities that you will be missing. Just imagine those who didn't buy Bitcoin last year because they were afraid. Just imagine how much profits they lose just because emotions got them. As for guides, this forum, and Youtube are the top 2 platforms that can help you learn more. Of course, there are some other platforms out there like X, Facebook, Reddit, etc. but the 2 that I shared are the ones that helped me the most.

There's no perfect time when it comes to investing, so as long as you have the money then just invest. Just a reminder that don't invest when we are already in a bull run. We aren't so take this opportunity to accumulate not only Bitcoin, but some top altcoins as well.

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Quote from: Russlenat on December 13, 2023, 04:59:43 PM

Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

I don't think it is. The market still looks bullish because of the expected ETF approval that will happen hopefully by January which means bitcoin that time will become more expensive from its original price. So that would be a bit riskier if you start investing at a high price. However, starting a small amount is not bad at all. You can invest anytime you want as long as your purpose is to buy and hold bitcoin for long term. But you can never expect to make it instantly big with the upcoming bull run. At least, you can still be in profits and just continue to DCA with bitcoin as this is the right thing to do when you come to invest at an expensive price.

Well I don't know for you but if he has the opportunity to invest or get some coins before the year start or during the early part of year he can still do it because I am to believe that the Bitcoin must reach another ATH be it now or later but the issue now is to know if he can actually hold those coins of his because he can start accumulating now and decide to hold for long till the new ATH is achieved then nothing is wrong from my own view.

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First, I will ask you to be mindful of the kinds of PMs you may receive because of this thread you have created. You don't need to wait until 2024 before you start investing in Bitcoin, although it depends on the availability of the funds. If you actually have some funds to invest in Bitcoin, then you should use the DCA (dollar cost average) strategy to invest in it. This strategy involves gradually investing a specific amount of money in Bitcoin on a more regular basis. For example, you can decide to buy $20 worth of Bitcoin every week or every two weeks, depending on the amount you earn from your monthly or weekly income.

We are approaching the bull market, and no one can tell what exact price we can see for Bitcoin by next year. Surprisingly, Bitcoin could be around $50k by next year, and if you buy now, you will be at an advantage.

Topic: How can I start investing in Bitcoin? - page 4. (Read 801 times)