Topic: How do I become a successful Bitcoin investor as a newbies? (Read 797 times)

Being nonchalant about market movements is something that augments patience and helps the trader remain calm through times of bear market. This becomes evident when the swings are happening and the trader still has their long term goal in mind while placing trades.

This is not easy for a newcomer to understand and apply and most of them will fail miserably losing money. But those who manage to get the flow of the market into their hands will be able to profit.

For example, when the market is dropping and you have fiat at hand you start buying the dip. You dont panic and sell off your held bitcoins at a loss.

I think the market has evolved overtime to accommodate crypto beginners. Now products like Grid trading, Copy trading and so on can be utilised to achieve results with little or no trading skills. As a beginner, just do your due diligence, you might want to explore those products where they are offered, Bitget for instance is like the biggest Copy trading exchange and this can be very effective for your early days investments

Staking is never worth it because with the volatility alone then it would already be having that significant percentage gains on which it would really be making you do able to gain up which way more that that you could really

get per year or annum with staking and same as you said for it not to be worth since prices could really be moving down and since you cant be able to pull off those coins since there's unbonding period then there's no way
that you could really be able to sell those coins totally on which means that you would really be getting caught if ever there would really be a crash.If we do talk about staking those top ranking coins in the market
then i could say that this is the only time i could say that it would really be that worth but for other coins? Nah it would be good if you wont mind such thing.

Success isnt something that you could really push it to happen because it would really be all depending on the things that you do along the way and since we do know that there are unexpected
things that could happen along the way which makes on reaching our goals or targets way more harder for it to be achieved and this would really be a never ending challenge basing up on
how we do live today.

I would never ever suggest a newbie buy certain cryptocurrencies and stake them only to get a small percentage of the total staked cryptocurrencies after such a long period, that is absolutely useless, it is way better to simply buy the trusted cryptocurrencies and keep them in your wallet and let them move up and down and sell them when the price goes up, buy again when it's down, doing this is much more fun than staking and sitting idle.

Also, when you have your tokens or coins staked, you can't sell them no matter how rapidly the market starts dropping, you will keep losing value and as your assets lose value, you will also lose value over the commission that you will be receiving through staking, so I don't think it's worth it.

Not instant become bitcoin investor exactly for newbie, need step by step and learn more about cryptocurrency knowledge how to manage well with trading in bitcoin or altcoin. For newbie need to learn and read all source about coins or news publish by cryptocurrency media to know later price will up or down. Inside need to check with altcoin project road map or their project planning at the future is worth investing there or not, some newbies loss investment in bitcoin because not research or analyze more detail with project for investing.

But don't loss hope when losing more in trading because you can learn from mistake and know at the future what have to do when investing in bitcoin or altcoin.

when you know everything, what is important for novice investors to do is to consistently make investment plans. do with purchases when the market allows us to invest. and gradually to increase the value of the Bitcoin investment that we have is the most important.
beginners sometimes have a lot of doubts, that's what makes them make mistakes when they enter at a good time but come out at the wrong moment. it will only make a loss.

The best objective for an investment newbie is to gain knowledge and experience about the market. If you are interested in trading and investing then you need to follow special tips. All you need to know is the volatility of the market and when to invest in the market will be profitable and when to invest in the market will face losses. Avoid all these risks and get advice from a good investor on when to invest and not face losses. You should always carefully read and gain knowledge about analyzing various aspects of the market. Of course invest when you can master everything well. Invest patiently and keep away from emotions, then you will earn a reputation as a good trader in the future.

Or simply just not make yourself in a "RUSH".

Better to take up the path completely that slow but surely kind of approach on which it is really that something would be sensible for you to do so or something recommended.
On the time that you do tend to make up some trading then you would really be definitely be minding on making things to be in line on as soon as possible because you would really be that
expecting for it to bring or make income on sustainable way on which it would really be that something wrong to have in mind.

Becoming a bitcoin investor would surely count if you do accumulate or save up bitcoin for long term or you would really be making out some active trading into it.
It would really be definitely be your choice on what you should gonna do but of course its not bad to snip up some idea on other people on how they do things
and be sensible around on what are the takings of most common investors on this field.

Why not? Bitcoin can also be used in trading due to its amazing nature. It is highly volatile, and we know that it's the volatility that can make us buy low and sell high right? A newbie can be prone to beginner's luck. This is responsible for the profits that they are making despite of having less or no knowledge at all on the thing that they are doing.

Mistakes are fine. We all make it and it does not mean we can't learn from it and as a newbie, they can always start small or use the demo version first to prevent losing while getting familiarized on the platform that they are using. Let's not forget that the OP is talking about investing. This was easier than in trading. It's perfect for him as a newbie and the more the chance that he can become successful here.

Indeed, there is no need to be afraid of losing or taking risks, but it must still be considered carefully,
trading is full of risks and it requires knowledge and experience,
the most important thing is to believe in the process by continuing to learn and remain patient.

➡️As a newbie looking to become a successful Bitcoin investor, here are some key points to consider:⬅️

1️⃣Educate Yourself: Begin by gaining a solid understanding of Bitcoin, blockchain technology, and the cryptocurrency market. Research reputable sources, read books, and follow credible experts to enhance your knowledge.

2️⃣Start Small: Begin with a modest investment. It's important to start with an amount you can afford to lose while you're learning and gaining experience in the market.

3️⃣Choose a Reliable Exchange: Select a reputable cryptocurrency exchange to buy, sell, and store your Bitcoin securely. Look for exchanges with a good track record, robust security measures, and user-friendly interfaces.

4️⃣Practice Risk Management: Diversify your investment portfolio by considering other cryptocurrencies and traditional assets. Set a budget for your investments and stick to it. Avoid investing more than you can afford to lose.

5️⃣Stay Updated: Stay informed about market trends, news, and regulatory developments. The cryptocurrency market is highly volatile, and staying updated can help you make informed investment decisions.

6️⃣Long-Term Mindset: Bitcoin is known for its price volatility. Rather than focusing on short-term price fluctuations, adopt a long-term perspective. Bitcoin has shown significant growth over the years, so consider holding onto your investment for the long haul.

7️⃣Secure Your Investments: Use hardware wallets or reputable software wallets to store your Bitcoin offline, away from potential online threats. Enable two-factor authentication for added security.

8️⃣Seek Guidance: Join communities, forums, and social media groups where you can interact with experienced investors. Engage in discussions, ask questions, and learn from their experiences.

9️⃣Emotional Discipline: Bitcoin's price can be highly volatile, leading to emotional ups and downs. Develop emotional discipline and avoid making impulsive decisions based on short-term market movements.

🔟Regular Evaluation: Regularly assess and reevaluate your investment strategy. Stay open to learning and adapt your approach as you gain more experience and understanding of the market.

Remember, investing in Bitcoin carries risks, and there are no guarantees of returns. It's essential to do thorough research, exercise caution, and invest responsibly.

You can't become a successful bitcoin trader (you mean trader when you say investor, right?) as a newbie. I don't know how people expects to make profit as soon as they start trading. You are a newbie. This means you know nothing. You are starting from zero experience. You will be making mistakes and end up with huge losses. Now if you still continue and learn from the mistakes, then yes you will eventually become a successful trader. Experience is what you need. The more experience you have with different trading situations, the better you will get in the long run! Just make sure you don't give up and keep yourself motivated to continue learning and trading.

 - Don't be afraid to lose as this will help you understand trading works.
 - Learn about every mistake that we did as this helps us to be more careful the next time
 - Keep Optimistic even though we suffered difficulties and losses because this will lead us to become strong

We have to remember that trading is risky and to gain success is not easy and fast. There is no magic in learning so we have to decide to become patient otherwise, we stop and leave.

When you are a Bitcoin investor you have to think smart, you know the market will bounce back from a certain point even if it goes below your bought area. Comparing Bitcoin with other cryptocurrencies would not be the right example, as we have seen cases where the top ranked coin in the market went to zero overnight. So Bitcoin investors who patiently observe the market and average their buying prices if they have funds in their trading account.

So being a bitcoin investor is a matter of patience, many big institutional investors bought bitcoins during the last bitcoin market dump and even had their portfolios down. Because they were smart enough and had faith in Bitcoin. As a result of their decision and patience, their portfolio is now up a lot. So being an investor is much more difficult than being a trader.

Know when to stop with all the getting knowledge theoretical stuff and get practical with it. Some people when you ask them why they haven't invested in bitcoin yet despite doing all their crypto education, they'll just give you a silly excuse. When they do, I just know that what is holding them back is that they are afraid to make mistake or lose money. I usually say something to them in the line of - even if you make mistake, you want to learn from your mistakes. And if you don't learn from them you're not going to get anywhere. Make your mistake, make note of it, learn from it, move on and be a better investor.

 

More precisely when mentioning bitcoin as one of those investments that most people really want, I will ignore the journey of some new projects for now in the crypto space. As we have seen in the past there are many reasons they cannot survive in the market long term. Knowledge is just the basis for someone involved in investing and how they control their risk whenever the market is hit. When they are not fully knowledgeable about bitcoins this is where they panic and try to sell bitcoins to avoid total loss in a severe correction market

Even though when they have knowledge and are calm in these conditions it doesn't make them lose. Investing in bitcoin is very simple, calm and skill is one's way to make a profit. Therefore it is important for beginners to understand the bitcoin journey process and it is this knowledge that makes them reach a conclusion.

It will not achieve simplicity in investing when someone does not understand the right way. Investing is much easier to do than trading and that's why not everyone is suitable for doing it, because trading is not only necessary knowledge but experience is also needed. The keys to success in investing are knowledge, calm and not panicking. As simple as that?

Simply put, buy and hold over the long term. But of course it's not as easy as it seems, obviously because beginners need more lessons and understanding to be able to control themselves when price volatility doesn't match reality.

To become a holder, beginners must be able to have extra patience. It's never easy, especially if they are afraid of losing money because its value has fallen sharply. If beginners are able to be patient with their investment, then they will be successful in getting worth it returns. It doesn't matter how long you wait, that's because investing in bitcoin is far more profitable than investing in other physical assets such as gold and the like.

The best way I know would be making sure that you know what you are doing and do not take any risks. Obviously buying bitcoin and not selling it for many years would be the simplest one but too many people dislike that. So, I will tell another one which is not great but at least it is going to be decent; just end up getting ETH and BNB as well.

Also on top of that, binance offers staking, for these three, it is very small but if you have a lot of money or aim to put a lot of money in there, it will bring you something decent. That way you could end up with a profit, of course it is going to be a risk, but at least you will have some fun and have some income as well. That's what we should aim at, we need to be doing a lot better.

Patience is definitely one of the most crucial aspects of trading, one cannot become a successful trader until one become too patient that they won't sell very easily no matter how bad market conditions might get sometimes, and this happens a lot of time with Bitcoin or other cryptocurrencies where you buy them at one point and soon after, you will see that they've dropped below that point and your portfolio is at a loss at that moment.

In such a situation, someone who is patient can control their emotions and won't panic sell by seeing their portfolio being red but they keep holding until the market recovers back which is what it generally does and then they start selling their assets one by one.

I agree Patience plays an important role in every type of investment. Be it crypto, Bitcoins , forex or stocks, patience always pulls you closer to success. If a person doesn’t have patience in any task or even if in investments, then definitely the task and investment will go in loss. Moreover as OP mentioned that he is a newbie, so I would suggest that all newbies try to acquire knowledge first before investing. When you are confident about the market, then only invest the amount that you can afford to lose.