Topic: TOP suggestions for someone who's thinking of buying BTC? - page 6. (Read 13763 times)
My suggestion would be to look also at bad sides, not only good ones. So everyone who wants to buy Bitcoin needs to be aware of volatility of price and that sooner or later loss is possible. Also it's important to have some plan and what is the goal one wants to achieve and will this investment be on long term or short term. It's important to say that buying Bitcoin will not enable you to become rich over night but it could be good tool for getting nice profit if you have resonable profit apetite.
Know that this is a volatile market and will stay that way for a long time. If you do not prepare yourself properly, that is, mentally and emotionally, you may lose it. There are times that will be testing your patience or ask yourself if you did the right decision, and if you are not prepared to deal with these, then better stay away from crypto or bitcoin. This lesson I learned the hard way.
I saw many comment telling people to buy when the price is dip but nobody indicate when exactly is this dip price to buy. Well my own advice is that just as you can become a millionaire by investing in crypto within few months, so also you can loss your investment. There is no guarantee that you will make gain or loss. This is because nobody can predict what will happen to the price of bitcoin even in the next 24 hrs. Therefore always invest what you can afford to lose
Rule # 1 on the crypto market is to invest the amount of money that you are willing to lose. This unwritten rule exists because the investment in crypto is a long-term investment.
If you want to invest in crypto, you have to do your own research, because there are many potentially non-potential projects.
The security of the investment is also important. It is recommended to use a hardware wallet.
Think it thoroughly. Once you've decided that you really want to invest, take time to study the market. I think these first two steps are crucial for first time btc users. Just as with any other investments, you're on your way to lose money if you come barging in unprepared and expecting easy money. Read, watch, interact with people who are in the industry.
OP, another suggestion would be, if Bitcoin's price depresses you, it's because you maybe need to zoom out. "Bitcoin is not a sprint, it's a marathon", or however some Bitcoin maximalists say it. But it is true. 
the main thing that I would suggest is to learn cryptocurrencies first ,dont mmediately buy without knowing the product ,dont immediately want to get rich in a day and must continue to study all trading methods if want to trade ,dont be consumed by negative issues or other issues so that the doubts arise ,all of them must be aware of risk ,must advance or not at all
the basic thing I will explain to others before investing is about knowledge of Bitcoin and the crypto world. this is capital that is very important for creating profits from the crypto world.
Crypto knowledge includes every aspect related to cryptography, such as trading, volatility, investment, security, lightning networks, mining, coin making with the ERC20 platform, all of which require knowledge.
Crypto knowledge includes every aspect related to cryptography, such as trading, volatility, investment, security, lightning networks, mining, coin making with the ERC20 platform, all of which require knowledge.
The only thing that I could suggest is don't think of it as an easy way to get rich.
There are people who only invest in crypto because they also want to be the next person who become wealthy from crypto.
Well for those who still have those kind of thinking could have been gone by now since the market has crash down.
You should know that in crypto you could only get profit if you trade,HODL or start mining them.
There are people who only invest in crypto because they also want to be the next person who become wealthy from crypto.
Well for those who still have those kind of thinking could have been gone by now since the market has crash down.
You should know that in crypto you could only get profit if you trade,HODL or start mining them.
Of course it would always be DYOR learn about what they are about to get in.
And also look for the best and most secure wallet for their funds to keep it safe.
Only invest what they could afford to lose.
Don't expect too much just because of those successful stories .
And also look for the best and most secure wallet for their funds to keep it safe.
Only invest what they could afford to lose.
Don't expect too much just because of those successful stories .
The unending DYOR advice, yes that's #1
True, this is the advice all must put into mind. Absolutely, before buying cryptocurrency or bitcoin one was do a bot for research about how the markets work and trading works before investment. And one should be patient enough to hold the bitcoins and best time to buy would be during the dips.
Understanding on how volatile the market is will save you from giving you that kind of stress, so it's better for a new person on this will understand that bitcoin is moving quickly up and down. This is why others fell after the all time high, they all thought that bitcoin was an unending increase cycle without going sideways. 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.
For me, the things above are old methods, they will suggest long-term investment, while the current condition of growth is likely to be smaller, unlike 2 years ago, i will prefer on short term trading, especially for major crypto like BTC and ETH
Absolutely, before buying cryptocurrency or bitcoin one was do a bot for research about how the markets work and trading works before investment. And one should be patient enough to hold the bitcoins and best time to buy would be during the dips.
The unending DYOR advice, yes that's #1
True, this is the advice all must put into mind. 1 Before investing, spend time learning about cryptocurrencies and blockchain in general
DYOR advice is a must for a person whether it is a beginner or a trader for a long time, we MUST DO OUR OWN RESEARCHES before investing2 Don’t look at it as get rich quick scheme, but as a long investment
Bitcoin will never be a quick rich scheme. Even nothing in cryptocurrency is an instant. Probably if you're lucky. For example before the big pump/before ath during 2018. You bought at December 2017, and that's your quick scheme.3 Learn ways to keep your bitcoin safe and secure.
That's why we need to research about bitcoin wallet to avoid losing our bitcoins and our wallet. 
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.
These are surely good suggestions. I'd also advice to explore the price chart (a potential investor should know about the previous ups and downs of Bitcoin), the main concerns about cryptos (that the prices won't go up again, that Bitcoin's scalability issue does not allow it to become mass adopted, some worries about quantum computer etc.). I'd also advice to decide in advance at which price or after what period of time would the person decide to sell bitcoins, what would one do if the price goes rapidly down and stuff like that.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.
And, of course, two golden rules of investing:
Buy low, sell high.
Only invest what you can afford to lose.
a) Make sure they are willing to lose it all since we never know the future
b) Suggest they dont watch the market all day everyday or they could become easily frustrated and panic sell
c) Regardless if the price drops, just hold on to your precious coins and hope for the best
b) Suggest they dont watch the market all day everyday or they could become easily frustrated and panic sell
c) Regardless if the price drops, just hold on to your precious coins and hope for the best
From my experience, it is highly important to set your goals straight, read, read and I mean READ a lot about the subject, since it's not risk free. Also, you need to prepare yourself mentally, it's so easy to loose your composure, when things are not going your way. But hey, everyone started somewhere and this forum is a great place to learn. My biggest mistake was isolating myself from websites like this and just "trusting my insticts".
the best advice to someone who is starting to buy bitcoin (apart from what was already mentioned) is to not-listen to the nonsense online usually in social media like Twitter or even the big news sites. most of them are spreading misinformation about bitcoin and sometimes even FUD. and a newcomer can easily lose track of reality if they are not careful about what they read and what they trust.
You are right cause the media can cause a newbie in bitcoin to panic which can result in panic selling even when the amount is lower then how much they buy it. 
Below things could be helpful for a first time bitcoin buyer. such as;
1. Proper knowledge about secure crypto wallets where he will store his bitcoin.
2. Experience about the use of bitcoin offline wallet.
3. Slight investigation about bitcoins price chart from where he will be able to get the idea when to sell or hold.
4. Its better to know the legality of BTC on his native country which will help to make bank wire transaction.
1. Proper knowledge about secure crypto wallets where he will store his bitcoin.
2. Experience about the use of bitcoin offline wallet.
3. Slight investigation about bitcoins price chart from where he will be able to get the idea when to sell or hold.
4. Its better to know the legality of BTC on his native country which will help to make bank wire transaction.
it is absolutely true that before buying bitcoin we must have a good goal or direction so that we can be calm, and my advice we should look at long-term investments in purchases.
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