Topic: [investment reminder] Strictly for Newbies (Read 173 times)

Bitcoin investment is like every other investment, which will definitely take time before it grows to an enviable height, however an investor needs a steady stream of income to be able to invest properly in bitcoin, and the idea of putting in your entire income into bitcoin without having some money left with you for contingencies is definitely a wrong Idea, bitcoin allows you to invest little by little without breaking the Bank. So I don't really enjoy it when you said the investment being done has taken a toll on the people you've guided, which from your explanation it seems like a negative toll.  For you to be a holder in bitcoin, it doesn't need your entire income, just a fraction of it is good to go, as long as your doing it gradually, however if your capital base is a bit unstable at the period of investing, you can pause the investment till your stable to continue, that for me is the flexibility that comes with bitcoin that investors do enjoy.

I don't know why you said in your topic that it is strictly for newbie cause what you have said so far I think it's what everyone is suppose to hearken to and not newbie only. Everyone need a well paying job that will help them get capital to invest or buy coin and hold them for a period of time and if someone has a well paying job I think the DCA method will be very nice and easy for that person. However, the issue of striving to be the best or be ahead of other can cause an enemity between brothers or friends, I have seen where two brothers are working in same company but the salary of the younger one happens to be higher than that of the eldest own due to promotion in the... and because of this any slight something the eldest will be quarreling the younger one and today both of them are not in good term cause of something that doesn't really matter so we should be very careful and mind our own business if your friend or brother is into a project that is paying him well and you are his elder brother or friend and you are unfortunate to be in that same project please do not see it as a challenge or threat, or envy him rather be happy for him.

I just want to share my experience before when i started in crypto or bitcoin i dont spend money in my first time having a crypto coin or bitcoin, instead i use the resources in the internet to earn a small amount to get started, what i mean by this is since there are rewards before if I'm not mistaken 2016 i just fill-up the form and gives a review and use their platform i earn my first crypto without spending money on it, but during this time is a bit different you need to study and check whether its worth-it to do testnets or task, unlike before, you can earn but its a bit hard since you need to exert more effort, and luck also , so good luck to our new comers,
thank you OP for the information that you share to us, this is very helpful.

True, it's more comfortable to invest on a well known populous projects with a highily recommendation reviews from the community users because there's always certification assurance to see experienced and influential investors Investing in the system.
This is as a case of bitcoin and the AltCoins where bitcoin is more dominance in the Crypto sphere and having being attractive and reliable where the big dogs also ventures the investments on the bitcoin while AltCoins are still struggling to smuggle with their marketing strategies of winning investors heart to their platforms without being authenticated of reliability as bitcoin maybe.
So, it requires tasks of research to undergo before venturing in the AltCoins projects which investors may not have been familiar about.



In avoidance of being mislead, it'd be necessary if we don't just subject to be influenced by speculations and hypes of a project and also as not just relying on certain investors stories.
Unfamiliar projects are assumed to have features which a strange investor needed to understand the scope so as to be able to independently be reliable with the marketing system analysis in order to not to jump on dumping projects or lost of funds by scammers.

Bitcoin or altcoin, you are the one who is making mistake as I never create this topic in the Bitcoin discussion board but Beginners and help, what are you talking about? I believe you made a mistake or something.

This is really true. People only can retire from jobs if they earn big enough from investment or trading in cryptocurrency market and there is another important condition, they must do this one before retirement.

They must cash out a big part of their portfolio, big enough to use for retirement, even they will no longer be able to find a job in future and if their investment or trading with rest capital after cash out going very bad.

It's easy to get big money in this market but to keep it safe, it is big challenge too. Financial condition can change very quickly in cryptocurrency market, even after one day, a week or some months.

Since bitcoin is not quick to get rich soon, we should always carry out personal research to know if our present financial conditions will allow us to invest in it and hold it for the long term. With what you said about your two friends, their conditions are not good enough to invest in bitcoin; they will sell their bitcoin investment someday to survive because they can't keep reserve funds that will help them solve their unforeseen problems when they arise. You can advise them to stay off bitcoin investments for now and get a good income source that will cover their living expenses before they can start investing in bitcoin. I don't encourage taking short-term profits in bitcoin because it is like a form of trading, which can make you miss out on bitcoin or reduce the quantity of bitcoin you have accumulated. For instance, if you sell your bitcoin to take a profit with the hope of buying again when bitcoin dips to the price you set, but if bitcoin doesn't dip to that price, you will be worried that you will miss out on bitcoin. You can't be patient enough to wait for bitcoin to dip because you are not certain if it will happen. You will just decide to buy back at a high price in order not to miss out on bitcoin, and you will buy a few bitcoin because you bought above your selling price. We should learn to hold bitcoin for the long term so that we can make a profit that can change our lives. It is through holding that we will see the real profit.

  A secured and we'll paid job or any form of substantial income is the wheel that drives and maintain an investment plan. Once you're with no job everything is bound to crumble, that's why people are extolled to making sure they have any sustainable income source and more importantly also have some savings while they invest in bitcoin. Emergencies can occur anytime.
when talking about altcoins projects I majorly attributes investment in them to gambling. The potential they appear to possess in reaping out explosive profits to the investor  but the potential to bring about a loss or dump is 10X higher which makes it not worth risking money on for an investment except you just wanna gamble.

One thing I have always believed about other coins or blockchains aside that of bitcoin is that they are just dump and pump coins or projects that many people FOMO in. They could show resilience attributes, have better tokenomics but at long last they will lose the adoption as many people will move over to other newly developed coins too. Bitcoin remains the only coin for long term holding, all alts Should be treated as short term projects



Many people most especially alts holders do believe that their investments will pump more one day, although there is no guarantee that would or it wouldn’t but the best thing is always to take profits at the right time. The usual advice given is always for one to first of all take out their initial capital and then maybe allow it to fun risk freely

Good reminder. Suitable at the first point. It is not good if we focus more on making investment as the main thing if ourselves are still difficult to eat and feed let alone give ourselves to borrow from others, aka owed.
Investment is the same as future savings. The main focus is to work and permanent income.


In the world of crypto, only Bitcoin (BTC) can be used as a long -term investment. Apart from Bitcoin, no one can guarantee the success of the project offered.
Investment in the world of crypto is only bitcoin who is not fraud. Bitcoin can no longer be added from the amount created.

Is it even possible to invest without money? Absolutely no! You can not have money to invest in crypto without having any means of income. It's paramount to have a reliable job not just because you want to invest in crypto but because you need a good life before thinking of anything investment. Your investment goal can not be achieved if you have no stable means of income because you'll eventually temper with your investment prematurely. Money will not fall from heaven, you must look for the means first.
 

I can't agree less with this point because the purpose of every investment is to make some profits at the end. You can not just hold your coins till infinity, you need to have a target with your investment. Market is naturally fluctuating and you can not predict its movement in the next minute, this is why you need to set a target that once hit, you can achieve your target.


Unfortunately, many people coming into crypto this days believe it's a quick scheme for making money or a shortcut to become wealthy but this is nowhere close to fact. It's possible to become rich if you plan and execute it well but not the way we assume. It has also make some people's life miserable because of poor planning and wrong information.


Unnecessary comparison can actually be the reason for failure sometimes. There are people you are suppose to learn from and not trying to compare yourself with them. Each person is running a different race and you might end up running a wrong race when you are desperate to be like some people who are naturally ahead of you. Crypto requires patience and calmness because every of your actions have consequences either positively or otherwise.

Bitcoin and other cryptocurrencies are investments so, they take time before they grow. And as someone who don't have multiple source of income, we do have to stick with our job/s for our needs. Also, you need the money from your job whenever some emergency comes and you don't have an emergency fund. Because if you're in need and you have nothing to pull, what you're going to be forced to sell are your BTC/crypto holdings.

That's why DYOR is our friend.

100%. That's one of the mistakes that I did before when I didn't took enough profits but I guess that because I'm still here and stayed on the market, that can be a blessing in disguise for me. But still, for this bull run, you'll never know how patient you will be waiting for the next bull run. So, if you see some opportunity to make some money on the bull run and it means selling, think of it.

Also the memecoin investors that are being hyped and done for promotion, let's say they are for real but unlikely to happen to the most of us.

Just focus on your progress, whether it is with your BTC holdings or what you do in life.

It's usually adviced to have a reliable source of income before going into investments. Thats because it will help you fund some personal or emergency needs without eating into your initial investment plans like long term holding especially for bitcoiners. Investing in crypto without a source of income is like biting your own finger when you literally know there won't be any other thing to eat from. We have to be smart while making any investment plans.

We should only invest in well know projects and if we want to  invest in new projects, we have to make research for those that has a long term plan. Some projects these days are just pumps and dumps and you keep seeing on social media, where they keep telling others to hodl and await for the pump which of course will never arrive.

If anyone believes to become rich over night using crypto then he will only end up becoming poor. The risk involved in crypto investments are very high and one must understand the market properly before jumping into trading. Profits takes time and strategy to analyze so let's not be deceived by what others are making through crypto they actually have made so much losses before they got to where they are today.

You posted this on bitcoin board, so I will assume that you are referring to bitcoin. If you can speculate and also be a patient person, you do not need to talk about bitcoin like you are talking about altcoins. Altcoins are most volatile, they may not get to all-time-high and the loss you will have with them may be permanent unlike bitcoin. Bitcoin has done this over and over again and got to all-time-high. You can see that as at now, only bitcoin has gotten to all-time-high.

I have helped some people by guiding them about crypto investment since 2022 and this year is taking a toll on them, out of others, one has no real job and the other is stuck with some heavy responsibility at home, he has a job that can't be called a job, but I learned some lessons from the decisions they have made in the past, which I believe it's affecting the present as we speak.

1. There is something that is more important than investing or becoming a holder, that is a job secured, do not dare become a crypto investor or a holder if you can't feed yourself daily, in this condition you need the job more than anything, and this is what will determine the outcome of your long term holding.

2. Apart from Bitcoin, it is possible that most of the projects to hold won't do well in a few years, even the good projects with great utility can suffer in the hands of some obstacles, like lack of funds, unserious team, hacks, etc, unlike Bitcoin.

3. Risk what you can only afford to lose and have a profit-taking strategy in place, pumps won't go on forever, and no crypto projects keep pumping and pumping without some dump waiting to happen, so you are to secure some profits at least.

4. The chances that crypto will make you rich overnight are very slim, it's like gamblers who unexpectedly turn into millionaires without expecting it, but it is also possible to become a poor man if you don't know what you are doing, and seek knowledge always.

5. No matter how hard you try, some people will always be ahead of you, either close friends or family even in this crypto space, you shouldn't make harsh decisions just because your fellow brothers and sisters are doing better than you.

No one will exit this life alive anyway, so there is no point putting yourself In a bad situation all because you want to be a crypto holder, if you have to give it a try do it the rightful way, get a job, and gain the knowledge about crypto before risking your paid salary on any investment, I hope this help someone new on here.