Topic: I hope I'm doing the right thing. - page 2. (Read 846 times)

Remember that every investment involves risk. You must first learn how to manage risk, the Bitcoin market is always volatile, its value can go down at any time and its value can go up at any time. The only one who can hold without panic during this price rise and fall will be able to benefit. But it definitely needs a long time, you can't get rich quick by investing in Bitcoin, you must hold for a long time. And remember the bigger the investment portfolio, the more profit you can get. You can invest regularly using the DCA method on a weekly or monthly basis, every dip should be seen as a buying opportunity, you should buy as much as possible while the price of Bitcoin is low. And from then on you should conduct the DCA procedure. Bitcoin price currently low, if you can afford it, invest now, then continue investing using the DCA method, holding long, and reaping the profits after reaching all-time highs.

You are doing the right thing by trying to understand what Bitcoin is before investing, the reason why people said it is good but luck because it’s an investment that is unpredicted, and also an investment that you don’t know the outcome of, whether you will get profit in the time you need it or not, people say that because they want you to understand what bitcoin is talking about, bitcoin is not just an investment that you will rush into Because you hear that there is a lot of profit in it, I know that everyone will like to invest in bitcoin when they hear that there’s a lot of profit but as a good investor make sure you understand the word bitcoin and also ask for more knowledge about it, I will also advise you to invest in bitcoin when you want to invest but make sure you know more about it so that you won’t get scammed or lose your money in the process, and if you learn and understand it you, will thank people who advise you later at the end when you are having a good time of your investment.

That is the common mistake most people normally do, trying to imitate what others are doing.  though imitating sometimes is not bad but you need to be very sure of what you're doing so that you won't regret at last,   just like this crypto investment you need to have the full knowledge about crypto investment and also you need to understand the market very well before looking out to make investment so that to avoid losing your money.

You did an excellent job by asking this question. In my opinion, the first step to take before investing is to thoroughly understand what you are investing in and the risks involved before putting your resources into it. The reason most newbies struggle with their investments is a lack of sufficient understanding because they view bitcoin investment as a get rich quick scheme, so they jump in without thinking and end up regretting.

Much has been said regarding market volatility and the risk of bitcoin, but let me add this from my little knowledge. Avoid using a custodia wallet to store your bitcoin investment because it is one of the risks of bitcoin investment. Instead, I recommend that you store your investment in a non-custodia wallet, which will give you full control of your assets because you will be able to hold your private key. However, make sure you save your private key in a secure place or where no one will be able to access it because if you lose your private key, you will lose all of your assets.
People say that if you don't want to take risks, you shouldn't invest in bitcoin, but this shouldn't be one of them.

It's really good to ask questions about something you don't know or aren't sure of, to avoid unnecessary mistakes, one needs to be patient and not rushed into doing something you will regret. Though some people rushed into doing something they are not sure of the outcome because of other people's stories about that very thing so they might be so desperate to get to that level ignoring the circumstances because they just want be get there, disregarding the fact that grace varies.

Maybe what you say is true, even though we are here to sincerely provide an explanation of what the OP asked. and if you look closely at every post made by other users, it can really open your mind to good investments.
but I also don't really hope that I can respond one by one, especially if you look at the rank of the OP who is still a newbie, so it takes a lot of knowledge and experience on how to discuss in forums and how to end the threads he creates.

There have been a lot of explanations already. But did we notice that the OP has not written a single word yet? I don't think he is interested in investing a penny in Bitcoin. He just wanted to create a thread and ask some questions with the hope of getting some merit. The OP was active yesterday, and he joined other conversations in different threads, but he did not come back to his own thread to check what people were writing to it. This clearly shows that he is not interested at all. Some of us even wrote some long essays with the hope that OP will read them and will get some benefit from our experience. Haha.

Bringing this investment idea here shows that you really want to learn, and you did not want to make a wrong investment decision, investing is bitcoin is a good decision and one best decision you have taken so far OP, Bitcoin investment is good and can help you in the future, but it is also risky because of its volatility. Bitcoin investment brings high returns in the future depending on the nature of price actions and market fluctuations, however, please take you time and absorb every information that will you gather here and filter it before use because bitcoin investment is prone to susceptibility of high price volatility and there is no check backs or refunds.

Bitcoin investments need time, patience and endurance to succeed and if you know that you cannot endure for a long time kindly use the money for another thing other than bitcoin. the outcome will surprise you if only you can endure and just know that it is a nice thing to invest in bitcoin because it actually a nice investment.

Lastly, note that bitcoin is a risky investment with high volatility and should be considered if you have a high-risk tolerance and in a strong financial position and can afford to lose any amount you invest. and also, its high liquidity makes it a potentially investment vessel for short term profit.

Don't follow other people's footsteps. Everyone is after a better life and they strive to achieve them. The market system is complex and it takes only genius to escape hugh losses mostly in the bear season which is consider difficult and challenging for everyone. Thoroughly learn about the basis of the space and grabbed good opportunities to explore the market. We know everyone should be opportune to have good entries on project and also what matters is the season.

As you said, it's important to have many ideas about what your money is going into.

In Bitcoin, the little knowledge I have is that everyone can actually invest in it, old or young. All you need is the fund to invest, and when that's available, you can register an exchange your country allows to deposit and buy bitcoins.
You also need to know that Bitcoin is just like virtual money, not your regular cash money. 


How you can also earn more so you can invest is maybe by starting up a channel on either Facebook, TikTok, or other social media and letting your clients pay in Bitcoin.
While investing in Bitcoin, you also have to acknowledge "patience" because it's an investment. 
You can get a lot of knowledge about coins that are low in price, buy them, and save up for growth. 

Reading threads about bitcoins can help you invest without fear. It's always better to give it a try.
Lastly, you can apply for half-time jobs online and let them pay you in Bitcoin. If you are afraid to put your savings into Bitcoin, at least this money is coming in already, so you wouldn't really feel bad. 

As a beginner, you don't need so much risk to invest; invest what you can actually let go of for a period of time, not your life savings. 

just take your time to learn how the bitcoin market works, no need to rush, because learning it slowly is also good. because whenever you enter the market it is the same, the point is how you can study it first and understand what you are doing. don't be fomo, where they don't understand what they are doing and just enter the market by following other people.

invest when you are ready. and you did the right thing when you weren't sure and you didn't know much about Bitcoin and you found out first.
although many have provided you with evidence regarding the success of investing in Bitcoin. but if you still have doubts, then solve your problem first. only when you are sure, start your plan. Investing is not an action that can be done like buying necessities. Investments must be planned well. Please continue in the right steps.

As long as you have the knowledge of investing and you think that you can handle it already start buying Bitcoin already, In my opinion, it is not great to delay buying since you're not really just going to buy a huge amount of Bitcoin in just one buy, most of the time we are going to buy small portion and start to accumulate Bitcoin. I mean its the most efficient way to do it is dollar Cost Averaging if you're familiar with it, start buying Bitcoin probably weekly or monthly consistently so that you can accumulate Bitcoin, it doesn't matter what is the price right now because as long as you are going to hold long term, and only sell on the top of the market you could always make a profit out of it. So for me start buying Bitcoin right now, Right now is the best time to start.

Make sure as well that your going to put it on a non-custodial wallet, the easiest wallet that is probably going to be suitable for newbies, is Electrum in my opinion as a newbie it is going to be a good start since it's easy to install and convenient for newbies, secure as well, open source etc. I mean just avoid putting your investment on a centralized platform like an exchanger, because you just don't have control over your investment on that platform at any moment they could freeze your account and there was nothing you could do about it, it already happened to me back in 2018 I think it was a local crypto wallet which is quite famous here in my country, I mean there was only a few choices and that time its the best wallet and exchange for convenient but they lock my account because I have transaction came from suspicious wallet which is mostly came from casino that time.

I believe also OP is just in the right track. You don’t need to rush investing in bitcoin because of FOMO or hype, but always follow your own instinct, that is when you’re capable and ready enough to risk your funds and overcome those risks. So don’t be distracted with other people worried too much about not investing at this time yet, bitcoin opportunities are always coming in, so you just have to wait for the perfect timing to invest. And when you’re investing already, build a lot of patience so you won’t see yourself struggling while trying to manage your emotions everytime price fluctuations happen.

Trust me, it is always good to delay yourself if you are learning more about it. This applies to almost everything.
Knowledge is the key to success. You should have the right knowledge to make wise decisions.
So never regrest if you are late because the time you spent on learning/planning is already a reward for yourself.

Just like the comment I made recently. You have know the basic elements of Bitcoin first before going into the investment business. You can call them components of Bitcoin and they are.
1. Wallet. It is the component to store your coins
2. Receive. In the wallet you will see receive. Which is to you.
3. Send. In the wallet you will see send. Which is to another person
4. Blockchain. The transaction process
5. Public key. Your address to receive coin
6. Private Key. 12 seed phrase that you have to keep away from people, just you ATM pin.
7. Nodes. It makes up the Blockchain
8. Bitcoin price. You have to know the price of Bitcoin before investing. It will help you to know the dip, Bear market and the Bull market with the all time high.

I think when you have known these things then you can invest in Bitcoin without fear and tremble. The number 8 is very much important foe all investors. Make sure you when when Bitcoin is in the bear market and you buy more and you have to know when it is in the Bull run and the All Time High.

Bitcoin investment is one of the best investment an investor should add to his/her portfolio.And it is also important to acquire knowledge on bitcoin investment before investing so that it won't look new or sound strange to your hearing when you see the price decreasing.Bitcoin is volatile in nature and not a get quick rich scheme investment that's what every newly investors should know before investing.Bitcoin investment is more profitable when you hold your asset for the long term.So with this knowledge you've acquired on the forum about Bitcoin investment you can start accumulating and also benefit from the new ATH.

Just like millions of other newbies.

Follow the simplest strategy:
- select a goal;
- create a plan;
- get your ass off your chair buy bitcoin.

About zero. When investing for the long term, volatility can be neglected.

There are risks in any investment, but for almost a decade and a half it can be seen that investing in bitcoin turns out to be a fairly reliable step.

Do you want the BTC-community here to give you confidence?

It's up to you to decide. Don't wait for outside advice. Your investment / wallet are your risks.

So remove this obstacle of lack of knowledge and then you will realize what exactly you want.

The later you join the game, the later you will start playing.

Knowledge and awareness add confidence, but delaying too much to start can ruin the right time to invest. Everything needs to be done on time.

At first, I was quite disappointed, especially in a time that after buying, the price dropped. And you can feel worries thinking what it drops more and lose more. These things certainly appear in our minds when we are new and don't understand the volatility yet. But as we gained some experience and deeply understood the market situation, our views, and market approaches also changed, and we even became certain of our plan.

That's right, we don't need to rush or think about earning too quickly. Instead of getting too fast, we better take time to learning more and acquiring more ideas because this will help us a lot as we continue our crypto journey.

Actually I think you're doing the right thing, jumping into something you don't even understand might lead you to something very bad, is always good to take your time to understand the market very well before making investment. for the fact that you haven't invested in bitcoin does not mean that you're sluggish, rather you want to acquire the knowledge first before looking out to invest. is just you been sure of what you're about to do so as to avoid losing your money, I think you make the right decision either.