What should a newbie do in bitcoin investing? - page 5.

Franctoshi

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Quote from: ? on November 11, 2024, 10:59:50 AM

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Bitcoin is a digital asset class which has proven to be reliable over the period of years, and yes Bitcoin is indeed a good investment asset and the best performance asset class of 2024, meaning is a profitable investment asset because of its deflationary nature and its limited supply @21M BTC that will ever exist. However, Bitcoin isn't a get rich quick scheme where you will invest today and cash out tomorrow.
Therefore, for you to be profitable with your Bitcoin investment, you must look at the long-term, let say at least 4 years and above, this is how that has profitable became profitable.

AVE5

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Quote from: ? on November 11, 2024, 10:59:50 AM

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Without sugarcoating a word here, yes bitcoin could give you a high rate of profit but depends on your invested capital and also long duration you can hold it.
Earning on bitcoin as investment doesn't come overnight or quickie, you must have to hold patiently probably a long period of time until its price increases where the value of your holding has to increase too.
You as as well earn a quick profit on bitcoin if you go into trading but it's risky as you can possible lost on trade at any given time so also you can earn at any given time.
Just be sure you do your research before getting into this journey.

Jegileman

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Quote from: ? on November 11, 2024, 10:59:50 AM

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

You want a high profit, the high profit is not just in the saying of it but how well you’re able to hold for the long time and an amount you see as an high one for you when it reaches. If you’re considering investing in bitcoin as a beginner, it’s required that you first understand how the bitcoin market works, the cycles and what happen within one cycle to another. You may want to start investing now as there is no perfect time to start. In the sense of bitcoin making a bullish move now, as the all time high is yet to be achieved, you’ll be making some profits at the end of of the bull run. Investing for the long time requires patience and investing at intervals after the bull run can also make you good profit in the future and give you a lesser price when averaged for the times you got to buy for a less price than now.

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Quote from: ? on November 11, 2024, 10:59:50 AM

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?
Suggest and help me to move forward.

Well it depends on what you want. If you are looking to get a huge profit over a short period of time obviously with a high risk margin then trading is definitely your option and not hodling. Hodling bitcoin is more like and investment that has a positive effect as time goes on meaning you literally won't get the best out of it if you are not willing to HODL for long.

The fact is I feel many people are willing at this point to invest in bitcoin at all costs just to make sure that they join the bull ride since many are quite confused why the bull momentum is still this strong. The fact is if you do so you fall in the category of those that invest on the basis of FOMO which in most cases doesn't turn out as nice as they expected. Either trading or hodling ,make sure to plan properly to avoid losing a ton.

Orpichukwu

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Quote from: ? on November 11, 2024, 11:39:12 AM

Very good advice, but as far as I know from my little knowledge the bitcoin market is volatile and has a high tendency to lose!

There is a very high tendency to lose, no doubt, but one can only start recording losses if they sell their bitcoin below the purchase price.

If you buy with a particular price and it happens that price drops below what you bought, it's always advisable that you hold and don't sell under pressure. As long as you hold it for long, the chance of recovery is high and even making profit on top of it, which is also part of the reason why people are advised to buy and hold for the long term.

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Quote from: ? on November 11, 2024, 10:59:50 AM

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Are you looking for quick high profit or a long term investment with reasonable profit ?

If you are looking for a high profit project, Bitcoin can be a high profit project but if only you can invest in Bitcoin with the aim of holding your Bitcoin for long term, because people that are making profit today are long term investors that are patient enough to hold their Bitcoin for long, and they keep holding their Bitcoins, this is just the beginning.

But if you are looking for quick profit, then I think you should learn how to go for deep research then you should consider investing in altcoins, but it is very risky.

Note
Just because of bull run, do not borrow money to invest in Cryptocurrencies, and make sure you invest the amount you can afford to lose because crypto market is volatile.

Zoomic

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Quote from: ? on November 11, 2024, 10:59:50 AM

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Bitcoin is truly a profitable investment, but how you go about it will determine if you will get high profits from it or even a loss. Bitcoin's price fluctuates alot, this means that the value of your investment may increase or decrease which may prompt you to take certain decisions that will affect your investment either positively or negatively.

To avoid this, consider hodling bitcoin for a long term. This will help you ignore short term price movements. With time your investment will appreciate depending on how patient you will be.

You can also consider buying small amounts of bitcoins consistently at intervals. This method is called the Dollar Cost Averaging (DCA), it will help you invest conveniently while also reducing your risks. But you still need to be very patient for your investment to appreciate significantly.

If you are in a hurry to make quick gains, please don't raise your hopes high because anything can happen.

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Quote from: Lucius on November 11, 2024, 11:22:10 AM

Until now, Bitcoin has always been profitable for those who invested in it, but your friend, me or anyone else cannot predict the future and tell you what the price of the same will be in 1, 5 or 10 years. Besides, what do you consider high profit?

What is certain is that you will not profit like those who bought BTC when it was worth $10, $100 or $1000 and that it is not realistic to expect that you will earn x50 or more of what you invested. However, if you are young and want to invest part of the money you earn in BTC, I think it is not a bad idea.

However, before investing, I advise you to familiarize yourself with some basics, especially how to safely buy and store your BTC - because one of the big challenges is how to properly save and protect your digital assets.

Very good advice, but as far as I know from my little knowledge the bitcoin market is volatile and has a high tendency to lose!

Rikafip

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Quote from: ? on November 11, 2024, 10:59:50 AM

Is bitcoin actually able to give me a high profit?

It is able, but whether that's going to happen depends on many different factors. First and foremost, you have to be patient and be ready to be in a loss sometimes even for several years. 2nd, don't expect to become crazy rich by investing few hundreds/thousands of dollars as those days are long behind us.

Just be careful and keep in mind that despite its performance, bitcoin is considered to be a high risk investment so act accordingly.

Lucius

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Until now, Bitcoin has always been profitable for those who invested in it, but your friend, me or anyone else cannot predict the future and tell you what the price of the same will be in 1, 5 or 10 years. Besides, what do you consider high profit?

What is certain is that you will not profit like those who bought BTC when it was worth $10, $100 or $1000 and that it is not realistic to expect that you will earn x50 or more of what you invested. However, if you are young and want to invest part of the money you earn in BTC, I think it is not a bad idea.

However, before investing, I advise you to familiarize yourself with some basics, especially how to safely buy and store your BTC - because one of the big challenges is how to properly save and protect your digital assets.

BIT-BENDER

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Quote from: ? on November 11, 2024, 10:59:50 AM

. Is bitcoin actually able to give me a high profit?

Yes Bitcoin is able to give you high profit or high loses depending on your capital and the time duration of your investment. A point you should pick out is that the market is volatile and things can swing either way at anytime.

Considering you just trying to begin your Bitcoin journey it is best you equip yourself with some knowledge and the post below are good for you
https://bitcointalksearch.org/topic/general-how-to-earn-bitcoins-1629118
https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
https://bitcointalksearch.org/topic/verifying-bitcoin-core-1588906

Nwada001

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What you need to know is that bitcoin can give you a profit if you hold it for a long period of time without selling; that’s to say, long-term holders are the ones that make a large profit. And the profit is base on how much volum you hodl.

You also need to know that bitcoin doesn’t perform magic and it’s not an easy way to make money, so you need to remove that mindset from your mind if that’s your intention of investing in bitcoin in order not to get disappointed if the price starts going sideways.

BitcoinBarrel

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High profit? That depends on what you consider high. I think at the current level, you might get a 300% ROI in the next couple years.

For newbies, it's often recommended to set a monthly investment amount (say $100) and consistently acquire over time. It's best not to go All-in with crypto or make any major investments if you are new because the market cycles every 4 years bring new highs and also dips that can be detrimental to one's net worth.

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Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

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