Topic: I need your contribution and opinion - page 5. (Read 1115 times)

I guess you are in the right choice just visit the designated board you want to learn more here in the cryptocurrency or the bitcoin itself, many people mistake why they are afraid with the bitcoin is atleast they have 1 BTC in their wallet to join the era of the crypto but instead just even a portion of it is just enough, you can make an investment like in top 10 crypto market coins right now, actually i started too in the XRP because thats the coin I know atleast i can have 1 XRP and not just a portion. Keep explore more you can get alot of different asset thats worth it.

you should be able to only invest in bitcoin, even though there are many temptations out there to buy other tokens besides bitcoin, however bitcoin still has the best reputation, and is resistant to inflation, why is it resistant to inflation because looking at the history of bitcoin prices during pandemics and new crises Recently, the price of Bitcoin has not been damaged at all, it is something that can be used as a benchmark that Bitcoin will always be the best and most secure cryptocurrency of all time.

Investing in Bitcoin does not require immediately buying a full 1 Bitcoin but you can buy regularly using the DCA method. You can use methods to increase your Bitcoin amount over time. If you can buy it regularly, you don't need to worry about the price of Bitcoin, but you can focus on collecting Bitcoin.

Many people have used this DCA method. They don't find it difficult to buy Bitcoins in small amounts. The important thing is that they buy and keep it regularly. And when Bitcoin reaches its new peak, they will sell it at the highest price and make huge profits.

But if you want to invest in altcoins, you have to really analyze them because not all altcoins can rise high. And it will take longer before you can get a good and potentially rising altcoin. And the last thing is only to use money that you can afford to invest in crypto.

Is bitcoin price indeed that high?  Some of us that are bitcoin holders today if we were waiting for the price to slump down before buying some fraction  or acquire 1btc we wouldn't have bought till date because the price keeps  sustaining the growing value.

Placing side by side XRP to BTC  the risk is not worth it. Use the amount of money you have to start with bitcoin, accumulating in every step of the way in stead of investing on a project that the future seems clumsy and unfeasible it's better to go for that which is achievable even in a long term basis. Establish your thinking on the future and not what you are seeing now.

You never need to own 1 complete Bitcoin. A bitcoin is further divided into satoshi. A satoshi is the smallest unit of the cryptocurrency. 1 Bitcoin is divisible into 100,000,000 satoshis.
So instead of buying and collecting Bitcoin, you can collect satoshis. It's named after Satoshi Nakamoto, the creator of Bitcoin. I am sure you are aware of who Satoshi Nakamoto was/is.

So, do not think like that and start collecting. One day, you will have 1 complete Bitcoin to your name.

Bitcoin is the only reliable cryptocurrency. It has been stable for a long time and has also overcome so many challenges. Many altcoins have turned out to be scams and fraudulent cryptocurrencies, so you have to be cautious while dealing with them. As others have pointed out, you can buy Bitcoin with what you have but the only difference is that your profit will not be as someone who has invested more. I encourage you to keep learning about wallets, security, and DCA. Everyone here started one day just like you so just keep reading and investing your hodling will keep growing and also will your profit increase.

That is the best thing to do, because buying a lot of bitcoin that you can’t afford is not the best option. You have to have enough knowledge and understand the process of investing in bitcoin. Though investing in bitcoin is a simple thing to do, it is not something you should be in haste for but rather a gradual process.

To me, since you are still studying to understand bitcoin, I suggest you still engage in more research and request guidance from experts that will guide you in the process so that you won’t end up losing what you worked for within a short period of time, but with guidance from experts and research, you won't be a victim of such an incident.

Additionally, when investing, make sure you invest the amount you can afford to lose, meaning you should invest your money, not borrow other people's money to invest so that you can accumulate a lot of bitcoin, but invest what you just have and you can lose it without being depressed or in pain.

You won't have to buy a whole bitcoin, buddy. Many of us won't even be able to afford to buy 1BTC, even if he worked for 10 years. Still, people are using and investing in bitcoins. If you specifically want to hold and profit from bitcoin, you will need massive mental strength. Because bitcoin should be held for a longer period of time, Which many of us can. Buy $5,000 worth of BTC. If you can't afford that, buy $3000 worth of BTC. Can't effort that? Then just buy $1,000 worth of BTC. Buy, hold, and just forget about that. If you hold it long enough, you'll see the result yourself. One or two months ago, BTC was worth 26k, and now it's 37k. Look at the difference.

Lastly, always do your own research before investing. I am not an expert on bitcoin. So I don't know when it's the right time to buy. Other senior members can explain that better.

When I was the newbie, I've always wanted to buy Bitcoin as a whole, and when I mean as a whole, I mean 1 Bitcoin. A few days after, I learned that 1 Bitcoin can be divided into 100,000,000 Satoshis, and in fact you can buy fractions of a whole Bitcoin. OP, don't focus on acquiring 1 Bitcoin especially now that you're a newbie, and you don't have enough money to buy it. Of course when you are rich enough to buy one then go buy it, but if you really want to buy Bitcoin, at least buy fractions of it.

Learn first before investing. Equip yourself with knowledge first before investing your money. There are lots of information that you can get online. I'm a proof that I only learn at least the basics online. No mentors, no paid courses, all free. If I did, so can you OP. I feel that you are overwhelmed currently because you're a newbie, but just focus on learning first. If you have somebody that can guide you then it would be better.

You bought Bitcoin and XRP? I guess I can say that it's a good buy since you bought 2 of the top coins in terms of market cap. Just don't buy low market cap coins for now. Good luck with your journey.

I would vouch for the opposite. There are more altcoin enthusiasts than Bitcoin enthusiasts and they shill altcoins more seriously than shill Bitcoin.

For your investment question, when you spend money to invest, you have to mind about two things: risk and benefit, from the capital you spend for an investment.

About risk, Bitcoin has smaller risk than altcoins. Smaller but it is still risky so if you are not accept risk, can not afford to lose your money, don't invest even in Bitcoin.

About profit, Bitcoin is best in long run because so far, with each market bull run every four years, Bitcoin always makes its new all time high. It's hard for you to find altcoins that can make their new all time highs with new market bull runs. In general and long run, Bitcoin gives you best profit.

I have received a lot of replies I found very useful and educative. It is something I have to take decision on and I have chosen and filtered the rest of options. Investing in Bitcoin for a beginner is suppose to be taken with a well guided steps. This I have learnt and I'll gradually buy with the little I have.

Before rushing into Bitcoin investment OP, think about your investment approach. There are a lot of ways to buy bitcoin whether a whole or some fractions of it. It all depends on your financial strength.

You can lump sum when the price dips a little or buy gradually buy steadily DCAeing weekly or monthly. It is not compulsory to buy comeplete whole of Bitcoin. Even if you have all the money, you only invest the amount you can afford to lose. This is my humble advice from my own experience.

Bitcoin is most preferred investment asset because of its ability to bounce back even if there is a market fluctuations and this is something which is not possible or really difficult with altcoins like XRP I still remember XRP is yet to breach its previous ATH which it attained during 2017 but that's not the case with Bitcoin and it's less volatile compared to other crypto henc people here discuss more about Bitcoin when compared to other crypto coins. If you have already invested in XRP then hodl on to it as once a year or once in two year we usually see sudden spike in value of XRP you may sell it that time. You may invest with whatever amount you have as there is no hard and fast rule that you have to buy minimum of 1 BTC or so.

In this aspect, it's obvious and understanding that bitcoin is the most best coin in cryptocurrency that have a potential and also remain potential and valuable in other cryptocurrencies,  as a Newbie I will advice you to ensure that you have already know the value of altcoins and bitcoin before you run or venture into investment, so therefore for you to know a good coin to invest you have make a proper research of cryptocurrency and valuable altcoins that's in the market before any other investment.

Welcome to Bitcointalk forum mate. First of all, you are not forced or it is not an obligation to buy 1 BTC because you can buy in smaller portions called satoshi. It all depends on how much money are you going to invest and the price or the amount of BTC you'll get doesn't matter so, if you want to invest then invest. That's also the price problem with others where they only think that you can only invest in Bitcoin by buying 1 BTC.

If he is not very sure with other alts but have good feeling about it, he can invest but as much as possible, use only small amount of money.
So if in case something goes wrong, he won't get screwed so much. Alts are hard as they have their own market performance depending on the dev team's updates and development plans.
There are still alts which are worth to invest but should be diligent enough to study them about their potential.
Better to take it slow when it comes to alts, should not hurry as you may end up liquidating your assets. Stay with top projects for the moment.

But bitcoin price is not too high for anyone to buy, you don’t have to buy 1 bitcoin, there is no minimum amount of bitcoin that you can buy, so you don’t have to say bitcoin price is too high for you to afford to invest, with even $1, you can invest in bitcoin. Maybe you just think bitcoin price is already too high and you are scared to invest in it. That’s why you have decided to give this excuse that you just gave above. It’s better to keep accumulating your bitcoin if you have the money and ignore the current bitcoin price, but you should know your investment will be long-term and not short-term.
 
Why XRP? I am not really in support of XRP, you should have chosen another altcoin and invested in it. I am not really a fan of XRP, and since their lawsuit, I don’t trust the coin any longer, and I won’t recommend people who prefer investing in altcoins to invest in it. If you can’t invest in bitcoin alone, then look for a better altcoin and invest in it.
 
Everyone is talking about bitcoin because they believe it’s the most reliable coin. People do have confidence in bitcoin because they believe the only thing that can happen to it is for the price to dump, but if you can hold with time, the bitcoin price is going to bounce back, but some altcoins will never recover immediately, they crash, which makes it risky to invest in altcoins.

Because bitcoin is the cryptocurrency that most people choose to invest in, anyone who does so knows that their money is safe with bitcoin, no matter how long it takes. While some investors may not believe in altcoins, anything that most people find interesting will be a cryptocurrency that is worthwhile investing in. Don't wait until you have a big amount of money before starting to invest in bitcoin. You don't need to be afraid of the price; just buy what you can afford and keep your wallet safe. If you want to invest, just give it a try. Anything can start slowly because bitcoin has helped many investors. For this reason, you will see people talking about it everywhere you go. In my opinion, the future will be all about bitcoin.

Seriously, he should've bought bitcoin before even considering the other altcoins cos most of them are not considered a long time investment and might liquidate and disappear soon, but I don't blame him much as he's new and is seeking guidance. Bitcoin is the oldest and much more prominent investment of all, it has prove itself over the years and will continue proving itself for many years to come.
OP should buy as much as he's got and not aiming at buying a full BTC. The more he wait, the more expensive bitcoin might get and at this point,  delay is dangerous, he should accumulate as much as he can cos the bull run is expected to occur very soon.

OP, have you not heard about "buy the dip and hold?" While investing in Bitcoin, you don't have to wait until you save up $37k+ before you can buy 1 bitcoin at once. All you have to do is buy the dip and hold, keep buying a little fraction of Bitcoin all the time you have some money to allocate into Bitcoin, and before you know it, you might have more than 0.2 Bitcoin. It's only some institutions, rich people who have enough money, that end up buying one Bitcoin at once because they have all the money it takes, but for people like us who don't have that much money at once, we invest in Bitcoin on a DCA (dollar cost average).