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Topic: TOP suggestions for someone who's thinking of buying BTC? - page 3. (Read 13763 times)
What would be the top things you would advise on or suggest to someone who’s thinking of buying BTC?
Mine would probably be;
1 Before investing, spend time learning about cryptocurrencies and blockchain in general
2 Don’t look at it as get rich quick scheme, but as a long investment
3 Learn ways to keep your bitcoin safe and secure.
Mine would probably be;
1 Before investing, spend time learning about cryptocurrencies and blockchain in general
2 Don’t look at it as get rich quick scheme, but as a long investment
3 Learn ways to keep your bitcoin safe and secure.
Yeah, these are basic top three suggestions who want to buy bitcoin and also it is necessary who want to buy bitcoin or invest on it. Although everyone know that bitcoin is good investment now a days but the other thing, how we secure it and which is right time to invest on it, so these are basic things, we should keep on our mind.
Learn and find information about cryptocurrency and market developments before buying to invest and try asking those who are experienced because they are more understanding and have experience that will provide good input for you.
Bitcoin is more profitable if you invest in the long term and most importantly you buy it when the price is low, all posts here provide the best advice for you.
Bitcoin is more profitable if you invest in the long term and most importantly you buy it when the price is low, all posts here provide the best advice for you.
I know how not right will this sound but I won't reccomend it to anoyone. The market is too dynamic, and probably manipulated too. That is my suggestion.
I realized one last time. The fact that sooner or later we will still use Bitcoin. And bitcoin still need to buy. Now, as for me, there is no time to buy, so you have to wait.
I prefer to buy bitcoin at the lowest price and will hold it until I feel it's profit, if mining will need a lot of money and I don't think I will be able to.
Buying bitcoin at the lowest price will be the best suggestion for people but we need to find the right time to buy and it still difficult because the market seems to moves to the high price to low price but then moves to the lower price. Mining will not be a good idea as we know that mining will need big power to earn the higher rewards and unless we have a cheap electricity fee, we cannot expecting to make a profit from the mining.
I prefer to buy bitcoin at the lowest price and will hold it until I feel it's profit, if mining will need a lot of money and I don't think I will be able to.
Learn first all things about cryptocurrency and all the possible things you can do to it, even the smallest details you need to know. Through invesment , joining bounty campaigns, trading, mining and hodling you can grow your money as large as you can but make sure you have to be secured in all things.
So there are different ways to increase my money in btc and I think i should read also articles about it, but what do you think i should do to secure my money here?
My only suggestion for all those who are thinking of buying bitcoin is to make proper research and only after proceeds to buy them. If you do not research properly then you may face a huge loss.
It’s important to understand how Bitcoin works before investing any money.
Bitcoin is still new and it can take months to understand the true impact Bitcoin can have on the world.
Take some time to understand Bitcoin, how it works, how to secure bitcoins, and about how Bitcoin differs from fiat money.
Some Tips for all those who are thinking of buying Bitcoin will be are as follows-
It’s important to understand how Bitcoin works before investing any money.
Bitcoin is still new and it can take months to understand the true impact Bitcoin can have on the world.
Take some time to understand Bitcoin, how it works, how to secure bitcoins, and about how Bitcoin differs from fiat money.
Some Tips for all those who are thinking of buying Bitcoin will be are as follows-
- Do Your HomeWork
- Proceed With Caution
- Diversify Effectively
- Keep Your Coins In Wallets
- Prepare For Volatility
I think the best thing to do is to do some research on how they will keep there coins secure. To be honest, I don't have any hardware wallet to at this moment so my coins is prone to hacks. What I've done is I divide them to 3 and put it in different storage.
One more is if you are not a trader, buy coins and hold it for long term. Also, invest what you can afford only to lose so that you will not feel any regret when you lose it.
For me, the best thing i can suggest is study first the crypto market and its movement. Do not make immediate investments without studying first the coins you want to invest. And choose carefully the coins you want to invest so that you will not regret in the end because you have invested in the wrong ones. And as much as possible invest what you can afford to lose. One more is if you are not a trader, buy coins and hold it for long term. Also, invest what you can afford only to lose so that you will not feel any regret when you lose it.
I think the best thing to do is to do some research on how they will keep there coins secure. To be honest, I don't have any hardware wallet to at this moment so my coins is prone to hacks. What I've done is I divide them to 3 and put it in different storage.
One more is if you are not a trader, buy coins and hold it for long term. Also, invest what you can afford only to lose so that you will not feel any regret when you lose it.
One more is if you are not a trader, buy coins and hold it for long term. Also, invest what you can afford only to lose so that you will not feel any regret when you lose it.
Learn first all things about cryptocurrency and all the possible things you can do to it, even the smallest details you need to know. Through invesment , joining bounty campaigns, trading, mining and hodling you can grow your money as large as you can but make sure you have to be secured in all things.
So there are different ways to increase my money in btc and I think i should read also articles about it, but what do you think i should do to secure my money here? 
The unending DYOR advice, yes that's #1 and I'll always say that to those people who are thinking right now of buying it.
He is a newbie so let's understand for now 
. Anyway, aside ftom the things given above, did someone advice you already to use btc wallet with Segwit or Segwit compatible address (bech32 or P2SH)? I mean, this kind of btc address is the most coomon compare to Legacy (IMO). This is also the usual wallet used for sig campaigns and buying/selling goods here so if you use it then there would be no hassle for you anymore. Good luck and welcome here
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Undoubtedly I would recommend him to be very cautious when it comes to investing in cryptocurrencies, and I would recommend that before he or she get too excited he should be aware of the real possibility of suffering great losses. I would also recommend him/her to document a lot about what cryptocurrencies are and how the crypto market works, so that he/she should only decide to invest once he/she have sufficient knowledge of what this technology means.
Among all the suggestions you listed, number one is the most important as I have seen and heard so many people diving into bitcoin investment without having the slightest idea about cryptocurrency and bitcoin simply because of how wealthy investors in the past became after bitcoin price went very high. So they just invest and start watching price, hoping to make quick profti and they become frustrated when what they expect is not what they get. I think people should really take out time to really know more about bitcoina nd cryptocurrency before making any investment they wont live to regret.
The three suggestions you highlighted here are the basic things anyone who wishes to invest in bitcoin should consider thoruoughly especially getting to have good knowledge about bitcoin, crytocurrency and blockchain technology. I have seen so many people investing in bitcoin simply because they heard someone made huge profit from it without even having the slightest knowledge about bitcoin. One should take out time to read or ask professionals about bitcoin, cryptocurrency and blockchain before making any investment so you know what you are getting into.
My suggestion is if you're planning to buy Bitcoin is make sure you use it at it should have been. Meaning if you have Bitcoin, use it to buy or acquire services using it.
Bitcoin was created as a currency not just as a mean of investing. We should put it in circulation like buying stuff online, payment for services, use it on online gambling and such. This way more people will use it because they'll know that they can trust Bitcoin as a "currency".
Bitcoin was created as a currency not just as a mean of investing. We should put it in circulation like buying stuff online, payment for services, use it on online gambling and such. This way more people will use it because they'll know that they can trust Bitcoin as a "currency".
Knowing the concept of Bitcoin and cryptocurrencies in general the technology which its build upon should be a great step to any newbies. The mind sent of getting rich quickly should be off and they should invest what can afford to loss. Secondly the safety of Digital assets matters a lot learning how to keep your private keys safe and secure should be a primary assignment. Finally always study market conditions before buying and don't be a panic dumper.
My thoughts are aligned with the thoughts of the author. Just like the previous comments the most important part when investing in cryptocurrency is having a good understanding of what cryptocurrency is. It will be useless to buy a certain coin if you really dont understand how the market works, how to purchase and sell it. Cryptoccurency means business, it means money if you do not have a single knowledge about it then you are just throwing away your money on the trashcan.
In short you need to understand:
1. The concept and technology
2. The market
If you know what you are getting into, you will have a successful investment. Understanding the investment first before putting any money is a must for good investors because knowledge is the key for a successful investor and that is why a lot of investor are not stopping from learning, they keep on studying possible theories that they can use or utilize for their own strategy. In short you need to understand:
1. The concept and technology
2. The market
My thoughts are aligned with the thoughts of the author. Just like the previous comments the most important part when investing in cryptocurrency is having a good understanding of what cryptocurrency is. It will be useless to buy a certain coin if you really dont understand how the market works, how to purchase and sell it. Cryptoccurency means business, it means money if you do not have a single knowledge about it then you are just throwing away your money on the trashcan.
In short you need to understand:
1. The concept and technology
2. The market
In short you need to understand:
1. The concept and technology
2. The market
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