Topic: Me and Crypto (Read 357 times)

Yes' To invest in Bitcoin, we must be aware that we only invest with the amount of money we can afford to lose. you are right of course before investing we should be aware of all these things and have good investment skills. When we invest in Bitcoin or various cryptocurrency coins, it is of course highly necessary to take the advice of a good experienced person, moreover, we should never go into investing without knowledge. Before investing, all these things must be considered first, knowledge, experience and skills about crypto are all necessary. Moreover, we have to accept the risk if we invest any time we may face loss if we can accept this risk we can make profit in the investment, and it should not collapse. And another important thing for investment is patience, the investor who lacks patience will never be able to move forward in the future, if you want to make a profit by investing, you must have enough patience to be successful.

Funny enough that's actually the basic knowledge most new crypto enthusiast are prone to because they actually get involved through sweet stories of someone actually making it big time. Bitcoin needs to understood every clearly because so many things are going on the market and the market can flip any instant which if you have already invested and if it doesn't favour you it now becomes a major for the newbie amd because if this action he can end up hating cryptocurrency.

I highly agree, even though we must not fully rely on the information of others to make investments, we can take them as a reference and verify if it is really worth the money to get a profit from those refered investments.  Acquiring information from other people coupled with verifying informations is the best way to acquire knowledge about certain investments, so we should not disregard any information from other people.


For less frustration, one must study the venture he wanted to invest in.  Learning about the market, the trends, patterns, and its fundamentals can save us avoid investing into a scam projects.  It will also point us to an investment that has a high chance of getting better profits.

First of all, welcome to this forum and also crypto world.
What you are doing is a very smart thing for beginners who want to join the crypto world. Because crypto is always high risk, so preparing yourself better is a wise thing. Most newbies don't even think about this and are only interested in one explanation and then put their money in crypto. So without knowing the knowledge, they will feel stressed and also blame crypto when they lose their money here.

but here, by studying it first from various sources so that you have at least basic knowledge about crypto, analyzing what crypto is, even preparing and finalizing financial management, then this could be a good and wise step for you. Hopefully in the future we will be truly consistent in continuing to learn and develop ourselves with broader knowledge, so that we can get various benefits from crypto itself, especially Bitcoin.

Welcome to the crypto space and also to the forum. I think quite a lot of people who finally started investing in Bitcoin or altcoins were also skeptical from the start, but after they took their time to study the risk facts and the benefits too, they still got convinced. So people experienced losses and were just determined to let go of those losses and learn more about how to avoid losses in their investments. There are thousands of crypto currencies in the market, and a lot of the altcoins are just some projects pioneered by some group of people whose aim is just to gain investors' funds and flee. Some altcoins too have potential, but sometimes they encounter some challenges that can just make the project go down, which is why some people don't like investing in altcoins.

Like you said about your steady income source, yeah, that's one thing that can always make you more patient with your crypto investment; otherwise, if you are only relying on your investment, you might end up selling so quickly even before the coin can pump so high (if it's altcoins), but if it's Bitcoin too, you might sell so quickly even before the bull market.

Try to invest in Bitcoin and make it your main investment because Bitcoin is the main coin in crypto. Many people choose Bitcoin as their main investment and use altcoins such as ETH, BNB, and others as additional investments that can provide additional profits for them.

You can get more information and knowledge from this forum, which will be useful for your investment journey in crypto. If you already have a steady income, you can set aside part of your fixed income to invest in Bitcoin regularly.

And patience is one of the keys to profit from investing in crypto. Don't panic if you see the market is declining but use it as a moment to buy potential coins like Bitcoin. Have a good study.

Welcome. Good thing you already have experience on investing to different coins and able to profit and lose (which is not that bad since you learned). But regardless of the result, what matter is you gained knowledge from your past experience. Aside from investing in altcoins, try to dig deeper about Bitcoin, since this is a Bitcoin forum, certainly you can learn something beneficial for you.

Having a stable job is much better, just shows you're not going to rely solely on your crypto investment. So good luck on your investing journey and remember to be patient and don't rush to profit.

You're most welcome. Since you have been studying bitcoin for so long and have experience in it, it is excellent of you. Because we need to know a great deal about bitcoin before beginning investments—which is why it is said that knowledge is wealth and without it, nothing can be achieved—and since you are aware of this and also have a reliable source of income, it won't be difficult for you to even make long-term investments. Because you have a steady income, that is the advice I will give you to follow. I think you should be aware of the risks associated with bitcoin since everything in the cryptocurrency world revolves around patient and time. Find out more about this forum and follow the rules.

OP first of all welcome to bitcointalk forum, congrats on your first investment and profit. Thanks to your friend, because of friend you came to know about crypto today. Op you said you heard about airdrop on telegram channel, I suggest you, never click any unknown link on telegram channel. I have heard many stories, they clicked on unknown links in telegram groups, hackers hacked their wallets. Investing in op crypto currency is risky you have to invest with risk. Bitcoin is the least risky coin in the crypto market. If you want to invest again then you can choose Bitcoin. Also since you found the bitcointalk forum, if you ever don't understand something you can ask in your local community or you can ask on this board. I advise you not to go to the Telegram group, you are new and don't know everything yet. You continue to study here. Thanks op.

Welcome to the world of cryptocurrency and i want to also welcome you to the forum and also let you know that you're in the right place and I also be the fact that you acknowledged patience and I've always believed  that in everything we do, we should  always give it time and the forum and cryptocurrency isn't exempted as well.
My crypto journey is a long one and I'm always glad I found the forum and I was very skeptical about cryptocurrency when I heard of it because I knew of bitcoin  when the news of ponzi scheme was very rampart in the country and anyone can attest that accepting bitcoin  back then was a major challenge as everything on the internet seemed scary and fraudulent.

I would also welcome you. In this regard, you have entered the category of lucky people, meaning you have chosen the field of cryptocurrency for yourself. You have just stepped on the threshold of the crypto space, so I think you need to learn a lot. A relationship of commitment must be maintained in order to achieve something better. In addition, this forum is a wealth of knowledge, which can give verifiable answers or knowledge to all kinds of problems and questions in the presence of its honorable members. So, friend, whatever problems occur in the future, you can definitely call us and our reliable forum members to get solutions to your problems.

To answer this question, I now prioritize investing over holding fiat as my savings, however I still save fiat money which I intend as my emergency fund.

I honestly have no interest in shitcoins and when I mentioned shitcoins being a decoration on my wallet it was when I first entered the world of crypto investment. And it's not just shitcoin that I'm avoiding at the moment but there are also things like memecoin which I've seen become hype lately.
As I said before, I have also collected bitcoin, and yes ETH is also one of my favorites.

Bitcoin is the best investment for the least risk but for massive profit people are turnong to shitcoins and other altcoins even though the risk is to great that one must consider their investment being lost once the dive into it.  Bitcoin now adays cannot give the profit newly founded projects' coins can give.  This is the reason why many are still risking their money investing into shitcoins and other altcoin projects.


True that, but some people are risk taker and they new they will lose their money more than getting profit but when they got lucky their money may turn 1000x in a short span of time.  That is how shitcoins and other altcoin market works, just like how Bitcoin market works sometime ago.

---

@OP welcome to the forum, I also have the same experience where I invested in shitcoins and meme coins.  I lost on several investment but one successful investment can recover all the losses plus the huge profit.  Though I always invest what I can afford to lose.

For newbies, I do not advice investing in newly created altcoins because it is really too risky, it is best to start with Bitcoin since it has high liquidity and proven to be in uptrend somewhere of its 4 year cycle.  Though it is not as high return you can get from risky investment from altcoins, at least the risk involved in Bitcoin is very minimal if you have the patience to wait.

Welcome to the crypto platform. You bring some hope to the crypto platform, surely you will have that hope fulfilled if you spend time in crypto and try to learn about crypto. As a new investor your first step will be to acquire adequate knowledge about investing. Because when you have enough understanding about investment, you can get good from investment. In addition to learning about investing, you must have an idea of what investing will always work for you. Adequate risk taking, patience, positive thinking about the market should be in you. Whenever you have all these in you, you can achieve success in investing. One thing must be kept in mind before investing that you should always try to invest with the amount of money that will not cause bad conditions in your life even if you lose it.

Welcome first OP. I read that your experience of getting to know crypto was very interesting, starting from considering crypto investment as a fraudulent scheme to finally finding out for yourself how crypto actually works through YouTube and other media. Until finally you decide to start investing in several coins including BNB with good strategy because you can be wise in managing your finances because you don't panic when prices fall. Yes, even though you have a steady income, without you realizing it, you have succeeded in learning good and correct investments.

And in the end your friend brought you to this forum, you should thank him. Because this forum is a very appropriate forum to continue learning and discussing crypto investment and maybe it's time for you to invest in bitcoin, you should know bitcoin better than other atlcoins. In this forum you will also find the safest wallets for storing Bitcoin assets, and it is true that Trust Wallet is not one of the safest wallets. Maybe you should read here to see a good and safe wallet

Do you continue to save paper money even now?

It sounds like you're into shitcoin buying if you mention coins that become decorations in your "trust" wallet. Why are you interested in shitcoins as a newbie in this field? This creates unnecessary risks when you could be investing in proven and reliable coins. I'm talking about btc or eth (and those closest to the top), as a last resort.

Even with a stable income, it is not very pleasant to receive losses.

New knowledge and information can be obtained here without joining, but in order to exchange this, it would be nice to have it. What else are you willing to share at this stage?

If you're new, don't come straight away. It would be better, while learning about crypto, to try to buy Bitcoin and leave it in your wallet, but don't use Trust Wallet to store Bitcoin.
There are many cryptos circulating on the market, making the wrong choice in purchasing means the risk is losing the money you have worked so hard to save. Bitcoin will not make you lose as long as you are able to survive and be patient until the highest price occurs.

Apart from not storing coins in the wallet you mentioned above, try to choose a trustworthy wallet that is open source. Don't store coins on exchanges either.
Since your intentions are good, I wish you success with Bitcoin.

I would like to thank you in advance for the welcome, it's an honor for me.

Your advice is very valuable to me, and I feel lucky that I made the right decision by joining this forum.
Oh yes, many of my friends advised me to invest in bitcoin. Just for your information, I've been focusing on bitcoin lately, although the amount of bitcoin in my wallet is still very small.  And also friends suggested to move to a wallet other than the trust wallet. And to hold bitcoin, I currently use electrum.


Thanks buddy for the advice, it will really help me to learn more about crypto.
Risk may be one that I emphasize now, because several times I took too much risk (especially at the beginning) because several times I entered into an investment that if I know now it is one called shitcoin.
Patience does pay off, and I've felt it when I was at the beginning. And I am also motivated to have more patience.

To be honest, I wasn't brought up that way, I mean I'm not in the habit of taking out loans for anything (except when there's no other option). I am very thankful that what I did was right, I never forced myself to try to invest while I didn't have extra money to invest.
And indeed I also often ask my friends about this crypto and how happy I am to have friends who are very open to sharing knowledge with me.

Yes, I realize it was one of my mistakes at the time, but I'm still lucky because the decision I made even though it might be considered the wrong way can benefit me. Surely I have to learn from my first mistake to be able to improve my steps in the future so that I can be wiser in making decisions.

This is exactly what I experienced. The first time I knew and started exploring telegram, I was surprised that there were so many PMs, and most of the messages were almost the same, offering investment cooperation in certain coins, some asked me to claim airdrop rewards with an initial fee and so on. Luckily I never responded to that, because I also thought logically at the time, and also after I checked I never followed the airdrop they offered.

Welcome OP. You sound more experienced and learned  in the system for the steps you took in learning more about Bitcoin and this platform. This really gave you insight of this platform. You said something that caught my attention of holding. You see when you are working or you have a good source of income, you can hold your assets for a long time without touching it and you can as well keep adding more coin to your wallet. Lastly, from your explanations, I could see some vital key features one must possess as a matter of Ones involvement in Crypto and the few keys are patience and knowledge. I think these you did well in your course of learning about Bitcoin and this platform.

Welcome to the forum, this is the place where there is the right info and you can see some good advice, respond and understand that I think you need to travel further and that will lead you to the right investment - BTC.

After starting out there will be problems whether you get scammed or continue to lose money holding altcoins/shitcoins but basically you will know which coins have the potential to be invested in, bitcoin is the right choice over other altcoins and continue to pursue your knowledge here, I hope you keep investing in bitcoin.