Humble crypto investment beginning | Bitcointalksearch.org

NavI_027

full member

Activity: 1232

Merit: 186

Quote from: Kakmakr on December 30, 2018, 03:54:50 AM

They should start with a small investment

Since I already stop encouraging others to invest in crypo due to the fact that they only good in the beginning but backing out in the end, just let me tell about my friend's experince about this. Last December, my friend refer to his boss about the potentials of earning big with btc. After he tell all of its advantages with matching flowery words, his boss was finally convinced and invested 2 btc in no time. It was a very huge money that time because he invested on the time when btc skyrockets and reach its ATH. I guess you already knew what happened after Grin

— of course his holdings lost more than half of its original value, I feel pity on him.

How sad that his boss suddenly gets hyped and forgot to start first with small values. His ambition and greed for money blinds him and lead him to misery. I can't blame him for being greedy because that was a natural trait of a businessman, I just can't imagine how hard he is going through right now.

Kakmakr

legendary

Activity: 3430

Merit: 1957

Leading Crypto Sports Betting & Casino Platform

This is the advice that I always give to "new" investors, when I introduce Bitcoin to them for the first time. They should start with a small investment to get a feel for the technology and then as they get accustomed to the basic principle and use of the technology, then they can invest more.

A lot of people make the mistake to start with a bang and to go big too early and they are the people who lose the most money on scams and fake wallets or storing coins without proper security. <2FA enabled>

Understand the supportive services and distinguishing what is good and what is bad first and then go bigger. Grin

HabBear

hero member

Activity: 1106

Merit: 637

Great advice.

And I'll add that you need to take the emotion out of your decisions. It's incredibly hard but you'll keep your investment true when you aren't chasing the swings, this is particularly true in the crypto world where the swings are unreal!

One way to do that is to preset your buy and/or sell prices and stick to them. Example, if you're only willing to lose 20% of your investment, know that price and sell when it hits that level...same on the upside.

Good luck to you all!

encycrypto

member

Activity: 294

Merit: 53

Quote from: Velkro on December 29, 2018, 03:01:50 AM

Quote from: BlockGroup on December 28, 2018, 11:14:26 AM

Agreed, no need to run before you can walk. I think many people feel the more they learn about the industry the more they will invest into it, but start small and let that process take its natural course.

Which is correct way opposite to what many people did which is going ALL IN.
I heard about selling your home to invest it all in Bitcoin which was actually result in loosing home.
Cool head first.

"Investing in steps/stages" is the best policy one could have. I've been averaging down since ATH, and still have USD to invest after all the loss because I did not go all in.

Manuel Schenkhuizen

jr. member

Activity: 147

Merit: 8

Quote from: Velkro on December 29, 2018, 03:01:50 AM

Quote from: BlockGroup on December 28, 2018, 11:14:26 AM

Agreed, no need to run before you can walk. I think many people feel the more they learn about the industry the more they will invest into it, but start small and let that process take its natural course.

Which is correct way opposite to what many people did which is going ALL IN.
I heard about selling your home to invest it all in Bitcoin which was actually result in loosing home.
Cool head first.

This is stupid behavior, irrational investment is no different from gambling, I would rather call them "gamblers" than investors.
In the 2017 bull market, many people's brain starts to have a fever. They sell houses and sell cars and then invest in various cryptocurrencies. You can imagine their current situation.
Sometimes, tragedy is not caused by the market, but by self.

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: BlockGroup on December 28, 2018, 11:14:26 AM

Agreed, no need to run before you can walk. I think many people feel the more they learn about the industry the more they will invest into it, but start small and let that process take its natural course.

Which is correct way opposite to what many people did which is going ALL IN.
I heard about selling your home to invest it all in Bitcoin which was actually result in loosing home.
Cool head first.

BlockGroup

jr. member

Activity: 38

Merit: 2

Agreed, no need to run before you can walk. I think many people feel the more they learn about the industry the more they will invest into it, but start small and let that process take its natural course.

Upgate

member

Activity: 560

Merit: 14

When you decided to make that big decision to start investment in cryptocurrency or any other investment areas it's best to know it can go two ways which is either you gain or lose but as a rookie you are not eluded from newbies mistake no matter the knowledge you must have gained practical is an entirely different thing.

Little mistakes are very forgivable if you are new infact most times its builds you. It's necessary you develop the two "p" factors in investing persistence and patience are very necessary attitude in investing

In as much as loses are mostly made when as a newbies it would be wise not to lose much that's why it's very much advisable to always start with a humble amount even if you are financially buoyant this is a whole new world for you so it right you tread cautiously.
Never underestimate the value of a humble beginnings

Topic: Humble crypto investment beginning (Read 193 times)