Right now I see that the bitcoin movement has reached $ 5,200 and has dropped back to $ 5,175 and I think the price of bitcoin will continue to grow, it's better to buy it from now before going up higher and buying according to ability.
for me personally investing in the long term is the right choice for now and based on searching information about the development of bitcoin to ensure that bitcoin will continue to increase.
Topic: TOP suggestions for someone who's thinking of buying BTC? - page 7. (Read 13745 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.
Let me add some suggestion,
- Do not look at the current price, When your buying BTC, you are buying something for the future. Think long term and not the short term gain for BTC investments.
- Want to avoid stress? Do not visit CMC on a daily basis specially during the bear season, Do not install Blockfolio or delta apps to track Cryptocurrency price in real time
Spare yourself in some unnecessary stress that will force you to sell your bitcoins when the current price is not in your favor 
According to my experience the best thing to do or suggestions I can make for those new buyers who's thinking on buying Bitcoins are:
1. Check the availability and legality of Bitcoin to your country, There are some countries who are prohibited to use Bitcoin and cryptocurrency.
2. Determine what's your goal on buying Bitcoin (e.g. As an investment, To use as a mode of payment, etc.)
3. Study the market and learn that Bitcoin is not stocks or forex. Bitcoin/cryptocurrencies are much volatile rather than the currencies in the forex industry.
4. Learn the basic entry to a market so the buyer would take advantage of the price and get as much as possible BTC at the time he/she's going to buy.
5. Lastly, There's a lot of top currencies in the market and not just Bitcoin. It's also good to look up to those coins as well.
I'm not saying that this is the right thing to do. This is all according to my own opinion and experience as a Bitcoin user.
1. Check the availability and legality of Bitcoin to your country, There are some countries who are prohibited to use Bitcoin and cryptocurrency.
2. Determine what's your goal on buying Bitcoin (e.g. As an investment, To use as a mode of payment, etc.)
3. Study the market and learn that Bitcoin is not stocks or forex. Bitcoin/cryptocurrencies are much volatile rather than the currencies in the forex industry.
4. Learn the basic entry to a market so the buyer would take advantage of the price and get as much as possible BTC at the time he/she's going to buy.
5. Lastly, There's a lot of top currencies in the market and not just Bitcoin. It's also good to look up to those coins as well.
I'm not saying that this is the right thing to do. This is all according to my own opinion and experience as a Bitcoin user.
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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.
Totally agree with you. You are on the right way.
just buy and hold for 3 years or 7years.
If we have another thing to do and not worry about searching for money from crypto, then hold for 3 years or 7 years will not be a problem. But many people still trying to earn more and more bitcoin by trading and some of them are difficult to hold bitcoin for a long time. And sometimes, those people are stuck in the high price, and they can not sell bitcoin without taking a loss in value.
before suggest people i think you need to see about their curiousity on bitcoin, if they dont have curiousity i think its better to not telling about bitcoin to him or her, it will be different if they like in bitcoin and they want to know about bitcoin. it will very helpful to give information to them
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.
Totally agree with you. You are on the right way.
just buy and hold for 3 years or 7years.
These suggests are good and help newbies to understand about bitcoins and crypto currencies. Understanding the crypto currencies is the main part of crypto's world. Peoples get minor info and start investing. Mostly they target big investment and at the end they lose there money which case they start hating bitcoins.
~snip~
I agree with your advices, they are definitely a good start for every beginner. A possible problem I see is that most people today have no money for long-term investment, and that perception of bitcoin is still on the side of quick profits and magic money. I would also like to point out a rather important problem which is often mentioned, and it is related to many bitcoin forks which undoubtedly confuses new users when buying bitcoin. It is important that people know that buying some coins with bitcoin in its name does not really mean they really invest in real bitcoin.
What is also good advice is an old saying : Never invest more than you are willing to lose.
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.
Think these are all well known rules but the problem is that people don't pay attention. Only thing they have in mind is quick profit so very often they forget to get informed and to estimste the risks and the good sides.
I would add that is very important not to invest more than you can afford to lose, not to make decisions in a rush and under influence of emotions and always to keep eye on the market.
I would add that is very important not to invest more than you can afford to lose, not to make decisions in a rush and under influence of emotions and always to keep eye on the market.
Well, Bitcoin is just another payment system and it is still in the basic phase of development. No one is sure that what is going to happen down the road and hence it is extremely important to consider risk factor while investing anything in Bitcoin or any other cryptocurrency for that matter. One should invest not more than his loss-bearing capacity as we all know that Bitcoin is a part of the wild cryptocurrency market where anything is possible. One should always invest his time before investing his money in order to understand what this market is all about and what are the consequences of investing in this market.
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
Mine would probably be;
1 Before investing, spend time learning about cryptocurrencies and blockchain in general
Or probably spend more time in this community. Because this is the best source of anything related to crypto, specially bitcoin.
2 Don’t look at it as get rich quick scheme, but as a long investment
Those who think of it that way will be burned and will lose their money here.
3 Learn ways to keep your bitcoin safe and secure.
Yes, and this newbie should check this link to help them out choosing the best wallet, https://bitcoin.org/en/choose-your-wallet
Besides OP mentioned people need to know where to buy bitcoins most of the newbies fell for scam sites so they need to research about the legit exchanges supports fiat payments to buy bitcoin or just go with localbitcoin site which is the best and many payment options are available as per the convenient we can pick one from it.
All your points are important. They must not listen to FUD too that bitcoin is been used by criminals or bitcoin is going to die. They need to bear in mind too that the price may not necessarily go their way and as such shouldn't be disappointed when it dumps.
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.
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.
1. terrible advice in my opinion mostly because you will not find that many decent sources to learn a bout cryptocurrency in general. i would change this suggestion to learn about "bitcoin" in general because that is the only one that you can find a lot of resources and most of them are good. many are even newbie friendly. but when it comes to altcoins 90% of the things you will find is advertisement with false information trying to pump that coin.
2. the first half is good but the second is bad. bitcoin is not an investment, it is a currency and people should not buy it to make profit instead they should buy it to benefit from its many characteristics and then make profit as a result of those.
3. excellent advice.
I agree with all of the OP said, and as the beginners in bitcoin, that person needs to learn about cryptocurrency so he can add more information as guidance to invest in bitcoin. The next thing that he should do is to learn how to protect his wallet and the private keys because this will be the important thing he needs to know.
And then, he can start to buy bitcoin in the exchanges, send the bitcoin into hardware wallet because it's more safety than to keep in the exchanges. And the rest, he can do anything he wants until he finds the price can increase higher, then he can sell his bitcoin.
And then, he can start to buy bitcoin in the exchanges, send the bitcoin into hardware wallet because it's more safety than to keep in the exchanges. And the rest, he can do anything he wants until he finds the price can increase higher, then he can sell his bitcoin.
This has been an overused investment advice for bitcoin for years now but it still works like a charm:
1. DYOR (or do your own research) before buying bitcoin or any cryptocurrency you see fit. This doesn't get any older since the very foundation of most investments are anchored with how well you know about it and how well you understand the dynamics, alongside the risks accompanied in you buying the said crypto.
2. Buy low, sell high. A very basic thought about anything related to investing in particular and is not exclusive to bitcoin and cryptocurrencies. As the words said, if you bought low, you must sell higher in order to collect profits.
3. It's not always unicorns and rainbows. Upon buying into bitcoin and crypto, one shouldn't expect fast materialization of their profits as the cryptomarket is a highly-dynamic, fast-paced environment that is not suitable for collection of fast profits unless you're a god in prediction.
4. Keep emotions off of your trading habits. This will help you decide clearer and more efficient in taking the next steps in your trading venture.
Excellent points, but there are a plethora of investors who simply do the reverse in these cases:1. DYOR (or do your own research) before buying bitcoin or any cryptocurrency you see fit. This doesn't get any older since the very foundation of most investments are anchored with how well you know about it and how well you understand the dynamics, alongside the risks accompanied in you buying the said crypto.
2. Buy low, sell high. A very basic thought about anything related to investing in particular and is not exclusive to bitcoin and cryptocurrencies. As the words said, if you bought low, you must sell higher in order to collect profits.
3. It's not always unicorns and rainbows. Upon buying into bitcoin and crypto, one shouldn't expect fast materialization of their profits as the cryptomarket is a highly-dynamic, fast-paced environment that is not suitable for collection of fast profits unless you're a god in prediction.
4. Keep emotions off of your trading habits. This will help you decide clearer and more efficient in taking the next steps in your trading venture.
1. DYOR = Too lazy to do their own research. Just invest and profit is their mantra.
2. Sell high, buy low is what they usually end up doing.
3. Invest in crypto and they expect lambos and ferraris.
4. They go crazy whenever they gain profit or lose money.
Such investors need to improve their brainpower.
This has been an overused investment advice for bitcoin for years now but it still works like a charm:
1. DYOR (or do your own research) before buying bitcoin or any cryptocurrency you see fit. This doesn't get any older since the very foundation of most investments are anchored with how well you know about it and how well you understand the dynamics, alongside the risks accompanied in you buying the said crypto.
2. Buy low, sell high. A very basic thought about anything related to investing in particular and is not exclusive to bitcoin and cryptocurrencies. As the words said, if you bought low, you must sell higher in order to collect profits.
3. It's not always unicorns and rainbows. Upon buying into bitcoin and crypto, one shouldn't expect fast materialization of their profits as the cryptomarket is a highly-dynamic, fast-paced environment that is not suitable for collection of fast profits unless you're a god in prediction.
4. Keep emotions off of your trading habits. This will help you decide clearer and more efficient in taking the next steps in your trading venture.
1. DYOR (or do your own research) before buying bitcoin or any cryptocurrency you see fit. This doesn't get any older since the very foundation of most investments are anchored with how well you know about it and how well you understand the dynamics, alongside the risks accompanied in you buying the said crypto.
2. Buy low, sell high. A very basic thought about anything related to investing in particular and is not exclusive to bitcoin and cryptocurrencies. As the words said, if you bought low, you must sell higher in order to collect profits.
3. It's not always unicorns and rainbows. Upon buying into bitcoin and crypto, one shouldn't expect fast materialization of their profits as the cryptomarket is a highly-dynamic, fast-paced environment that is not suitable for collection of fast profits unless you're a god in prediction.
4. Keep emotions off of your trading habits. This will help you decide clearer and more efficient in taking the next steps in your trading venture.
Yes because many investors of this day always view bitcoin as a get rich quick scheme and at some point get disappointed when they expectations are not forth coming and tending to call bitcoin a scam, before you buy bitcoin take the time to learn the fundamentals and how to protect your self in the general market and again don't always take the analysis of others as an investment guide.
No.1 is the most important thing that you need if you are going to invest in crypto. You need to have some research to learn what are you going to built or what are you going to engage in business. You have to know what you are going to do. And next you don't have to rush to become rich to make your investment alive and far from loss. Because when you are rushing you don't think well so you can't have a good strategies to grow your investnent.
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