Topic: What should a newbie do in bitcoin investing? (Read 1220 times)

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Yes, you heard correctly what you heard about Bitcoin, I am not talking about the past of Bitcoin. If you look at the current period of Bitcoin, especially the months of November to December, you can see how profitable Bitcoin is.

Whether Bitcoin will give you high profits or not depends on you. If you can hold a large amount of Bitcoin, then you will definitely benefit from Bitcoin investment. If you cannot buy and hold Bitcoin and just go on Bitcoin predictions, then you will not be able to benefit from Bitcoin. To get success in Bitcoin investment, you have to go through Bitcoin investment.

Indeed. At least, someone needs to have the basic knowledge if he wants to start Bitcoin investment. It is important because it will ensure someone to invest in a proper way. However, once you have a lot of knowledge, you won't be categorized as a new/beginner anymore. So, newbie/trigger is normal if they only know the basic knowledge about Bitcoin investment.

Financial management is a crucial aspect in Bitcoin investment. We must know well how much we can afford to invest in Bitcoin. Bitcoin is for a long term holding, so we can't use the money for basic needs or loan money. We can do DCA, we buy Bitcoin gradually when we have enough money. In this way, it will be easier to collect the Bitcoin without any pressure.

Having a source of income that guarantees you income can't be ignored because you'll be the one that'll be regretting why you didn't have a job before investing in Bitcoin. That's why I don't get it when people make a profit and the first think they can think about is quitting their jobs. They're not even doing that to start their own business/company with the profits that they have made but they just do it to get free time when they're not yet there financially. You are only right to quit your job when you have investments that have guaranteed you financial freedoms. Alot has been said about what a newbie should do when investing in Bitcoin but not much has been said about when to taken profits because this is one area people make a mistake in investing. Don't take profits too early as that's the worst mistake that you mightn't be able to live by.

If you would take my word for it,
The best you could do for yourself is not to find reasons to believe in Bitcoin from the mouth of other people. You don’t get a firm believe in the system that way. You have to find reasons of your own to believe in Bitcoin. Why you should invest and if it’s entirely profit oriented, then how would it feel when you aren’t making profit?
It’s not always profit and profit you know. There is a loss potential to this but it mainly reverts to why your plans with the investment.

Perhaps the lips of users could be where to start but, should be a push to doing more research.

Any investment is in the lines of making a profit..and when it comes to crypto investments these can cause some headaches because people are sold dreams...for one to get a decent ROI sometimes it may take longer than planned,  in some instances takes years which is why we are advised to risk what we are willing to lose so that we aren't constantly checking on price movements.

First and foremost,  due diligence of what asset you want to invest in is a must!

Secondly, returns from crypto aren't defined...you need to have a patient attitude to maximize on your profits.

Lastly don't get financing that we charge an interest because markets are unpredictable sometimes...otherwise go out there and explore the markets.

Exactly, you do not need to have complete knowledge of bitcoin before you can begin investing in it because, unlike trading, you do not need to grasp everything about it so that you can start making money from it. Bitcoin is a simple and fantastic investment that anyone can invest in and profit from if they are patient enough over time. What I've recently learned about bitcoin is how to invest in it, how to swap it, and how it works. It's volatile, unlike other cryptocurrencies, which plummet dramatically and cause you to lose all of your funds when things go bad.

Bitcoin will make you a better profit, but it is not as easy to become wealthy as other shitcoins that pump higher and drop lower because if you invest in all of these small coins, you will undoubtedly lose all of your funds, but bitcoin will not cause you to lose all of your money when it drops because it is not like other coins that drop all. Simply find a source of income and enjoy your bitcoin investment because without it, your bitcoin investment will suffer because he will influence you because he will undoubtedly touch your money at any point.

Bitcoin has not just become the most popular asset in the cryptocurrency world but also the best asset with a promising future and a great potential. Bitcoin can be risky but not as risky as trading or as risky as you think or see it to be, because apart from not securing your seed phrase where you store your coin and the fact that the existence of Bitcoin is not known there's nothing like risk in Bitcoin because you won't make loss unlike trading where if your trade doesn't go as planned you are going to make loss but in Bitcoin there is nothing like that unless you have financial challenge where you don't have any option than to sell your Bitcoin and if the market has depreciated below what you invest with you are going to sell in loss.

Bitcoin is a digital currency that has become quite popular in the last few years.  Bitcoin investment is indeed quite profitable but at the same time it is a risky field.  If you want to invest then first know about its market conditions and risks and it is better to invest small amount at first and gradually gain experience.  It is suitable for long term investment.

This is the most simple and effective advice you have just given because most of the time we don't want to take risk and want to be confident on ourselves instead we want to be more confident on other's predictions which is not healthy for the investor and a trader's mindset. Better do your own research, and then try to compare it with others to see if you got it right or not and learning is the best phase.

This phase builds more confidence, and the more confidence we will have the more profit we can make, as we can take then more risk. Speaking of getting help from experts I think we don't need that as experts in the bull run are just to eat your money in the name of providing your premium knowledge and they charge a lot for that. I am seeing many trusted influencers asking for VIP groups (money), and people are in already profiting and they don't care to give that profit to learn more and make more so they easily give that money. I think that money should not be given to anyone who has not helped you make money before.

This is one of the few things that people really need to understand because if you look at it you don't need to set your mind in making mad money at first so it better to understand the process and the only way you can do that is to get the main knowledge once anyone is ready to make use of that knowledge and another problem some people don't want to start from the basic they feel is a waste of time and the next thing they will
Want to start from advance and they will also want to start making money immediately and this is one of the understanding they have failed to get you can rush investment everything have to be done one step at a time that is when you will now be able to gain.

And the main thing is that if you don't have a good source of income you will find it very hard to maintain balance in the investment because your daily needs will always be on your neck so it is better to have somthing to actually clear does bills out, job is very important especially when you are this kind of person that wants to invest in bitcoin , have a job ot a good means of earning and another thing is that you take knowledge seriously because is among the important things that are needed.

 Here's a friendly informative letter with Bitcoin investing tips for beginners:

```
Dear New Cryptocurrency Investor,

Welcome to the exciting world of Bitcoin investing! As you begin this financial journey, I want to share some crucial insights to help you navigate this dynamic market wisely and safely.

Key Tips for Bitcoin Beginners:

1. Knowledge is Your Greatest Asset
Before investing a single dollar, commit to learning. Understand blockchain technology, Bitcoin's fundamental principles, and market dynamics. Follow reputable cryptocurrency news sites, watch educational videos, and read comprehensive guides. The more you know, the better your investment decisions will be.

2. Start Small and Be Cautious
Bitcoin's volatility can be intimidating. My recommendation? Only invest what you can genuinely afford to lose. A good rule of thumb is limiting cryptocurrency investments to 5-10% of your total investment portfolio. This approach protects your overall financial health while allowing you to participate in the potential upside.

3. Choose Reliable Platforms
Select well-established cryptocurrency exchanges like Coinbase, Binance, or Kraken. Prioritize platforms with:
- Strong security measures
- Two-factor authentication
- Transparent fee structures
- Good customer support

4. Prioritize Security
Protect your investments like treasure:
- Use complex, unique passwords
- Enable two-factor authentication
- Consider hardware wallets for significant holdings
- Never share private keys
- Be extremely wary of phishing attempts and unsolicited investment advice

5. Develop a Strategic Approach
- Practice dollar-cost averaging: Regular, smaller investments
- Think long-term (HODL strategy)
- Diversify within cryptocurrency
- Avoid emotional trading decisions
- Stay informed but don't obsess over daily price changes

6. Understand Tax Implications
Cryptocurrency transactions have tax consequences. Maintain detailed records of all trades and consult a tax professional experienced in crypto taxation.

7. Continuous Learning
The cryptocurrency landscape evolves rapidly. Stay curious, keep learning, and remain adaptable.

Remember: No investment is guaranteed. Bitcoin can offer exciting opportunities, but it also carries significant risks. Always conduct thorough personal research and never invest money you can't afford to lose.

Wishing you wisdom and success in your Bitcoin investment journey!

If your focus in Bitcoin is so much on the profits sidez you may lose out of patience when that profits is not forth coming and you running in losses, because in as much as Bitcoin is an investment with great profits on the long term base, same way you can also lose in Bitcoin investment, so you should be aware of all of this and try as much as possible to put everything under consideration before diving into Bitcoin investment.
My advice and suggestions for you is to focus on building your knowledge about Bitcoin and also take steps to improve your security before holding your first large portion of Bitcoin holdings, because from the above mentioned characteristics, you will be able to secure your own position in the Bitcoin market and being able to secure and protect your investment through our the time.

Starting a bitcoin investment doesn't really mean you have to gain a lot of knowledge about bitcoin before you can do that; you just need to gain the basic knowledge about bitcoin, which will give insight into what you are putting your money into. What a newbie should be concerned with is his finances to know whether he will have a discretionary income, which will allow him to freely invest in bitcoin without finding it hard to solve his daily expenses, which will put him in a better condition of holding his bitcoin investment for the long term without depending on it to survive. You can still continue to learn about bitcoin after you have started your bitcoin investment to help gain more knowledge about bitcoin and know how important bitcoin is to our lives and what bitcoin intends to solve in the world.

I know it's very hard for us to see 3 times profit from bitcoin now again, but that does not mean that it's impossible for such to be achieved.
 
It can only take time, and those who are willing to hold for years (patiently) no matter how long it will take, if the person is determined enough, then they can wait and see when Bitcoin will eventually hit the $300k level, maybe in the next 4-5 years time. No price is impossible to achieve in bitcoin; even if it seems all impossible, it's not for 3X; it's just a matter of time.

From the beginning even when qltcoins were coming from the the belly of bitcoin it was encouraged to better invest in bitcoin because during the bear only feat coins were the very few that were able to survive the crash in the market and it is only when you invest huge that you get a huge return just that your profit is certain so the more you invest the more you get, and that is why DCA and accumulating gradually is very important. And from the beginning before you start investing it ia important that everyone newbie choose learning before investment. And does that jump into investing in bitcoin still end up going back to learn because their is no way that you will invest without learning.



The seriousness of learning when it comes to learning will determine the level which you will get as an investor, and a lot of them have dreams that they want to become one of the biggest investor but you still have to start with having knowledge and that way you will be able to know the proper steps to take, you will see how people, since their is a lot of opportunities in association with bitcoin that way you will be able to know how the opportunities come and when to take it. And if anyone is even starting is better to start with spot than rush to doing things like futures. But for a start you will have to start with an easy one.

Edited out.

Well I don't have much evidence to prove to you that bitcoin will grow faster in the future like it was during the early days of bitcoin, but all I can tell you is that it took bitcoin Nealy 50x to reach its current price it is right now,  from less than a dollar in 2009 to  $90k in 2024. so for bitcoin to achieve such milestone In the next 8 to 10 years from now  may never be possible. Even 10x may not even be possible in the next 8 years. Because 10x of bitcoin from $90k will be 90000×10 =$900k.

Even though you are still a newbie, you ought to have already known that there is money to be made in bitcoin. If not for anything, the person that introduced you should have some proofs of making money from bitcoin especially now that we have bitcoin at ATH and everyone who invested is in profits.

To make the best of bitcoin buy now at any price and hold for 5 to 10 years and ensure you invest what you can afford to keep for that long without touching it. If you do this, you will be happy with yourself and with bitcoin.

Nothing is certain in the crypto world regardless of how much you hold and for a newbie seeking to make high end profits, then I think doing a proper research will save you from blaming others if anything goes wrong.
I had to qoute you because, op might want to act as a long term holder with a $50 holding account for instance and maybe get liquidated when the best market comes because the market comes with a new ups and down after every four years and if for instance, op buys at this current price and bitcoin drops below $40k I’m sure you know that, his long term holding might get liquidated and op might start looking for who to blame.

@op, just as @wakate has already suggested, in nutshell, just do your own research and always invest only what you can afford to lose as the market is a volatile one and nothing is promised.