Topic: Why do you need to learn and ask people before investing? - page 2. (Read 842 times)

What I call that if peers pressure but in the aspect of finances. Because even though those that you know invested in cryptocurrency and gain profits that make them leave that rich lifestyle, you are not supposed to force on that lifestyle, but force and learn the way that they got there money which lead us to the knowledge first. Knowing well that you can never move further in crypto currency by trying and error if not you will lose more than you will ever expect, because you keep pushing money without any financial management or risk management. So it will definitely affect him.

The best way to succeed in the cryptocurrency space, if by acquiring knowledge from expert, and also investigate or embark on research that will help his stay in the space as an investor.

Learning can never bring negative changes in a person, it's the perception of the person regarding the things they have learned that might do that.


Learning is a constant process. No one in this world can say that they know everything even about the field they belong to. There will always be something more that they could possibly know, so one can always learn something new, and there should be no shame taken in that.


You forgot to mention patience and self-control which are the main drivers of one's rash decisions. Your analysis, risk assessment and tolerance, financial roadmaps, and financial goals are all useless if you are not able to calm your nerves and think rationally before making a decision, especially during critical conditions.

You make a good point that learning and studying play a key role in crypto world.  Yes, even seasoned investors continue to learn and research.  but there is a difference between picking up knowledge here and there (aka learning) vs cracking open textbooks to master a skill (aka studying). and  In crypto, we gotta do both.  On one hand, you got to keep pace with the latest trends and tech breakthroughs.  Thats like casual reading - no exams just staying in-the-know.  On the other hand, you gotta hunker down and commit to studying specific stuff that matters for your goals, whether its technical analysis or coding smart contracts.  The self-paced learning keeps us from falling behind, while the studious stuff transforms us into experts.  You need a healthy diet of both to thrive in this industry. (Although Ive never seen learning have a bad effect on anyone. In fact, its usually the opposite.)

I would say learning is an everyday practice which will have a either have a positive or negative change in someone. Studying is also another thing in which you have to be disciplined to obtain a particular knowledge and understanding.
The crypto world is very versatile and even the ones we think that are professionals still study, learn and do research before investing.

I would love to highlight some points why one need to learn and ask people before investing.
First, to get rid of confusion and evaluating the risk involved by knowing my risk tolerance.
Second, it will help one to set out a personal financial roadmap.
Third, it will help prepare for the future whether it is a short term or long term goal.
Fourth, it will help one in creating network of connections and generation of ideas.

In general terms you learn before executing a particular project. It is good to learn something before investing in it, investing in Crypto market, someone have to understand the rules and regulations first, without having knowledge of it and went Ahead to invest when you loss ? You blame yourself for it. But when you understand how things work you finally end up winning and that can also gives you a good focus and target investment for the achievement of one's goals.

From the perspective that you build about crypto investment I think you will be getting a lot of things wrong because investing in Bitcoin or any other cryptocurrency because other's are flexing and putting to your eye that all is Rosy with them and their investment in cryptocurrency and also making them Rich quick.


Such a mindset will only lead you to frustration along Ng the line, because before anyone should invest in cryptocurrency, they need to first of all have basic knowledge concerning the project and also information regarding previous market movement for such assets before putting their money down on them.

If a beginner does not have the courage to invest, then he needs to look for additional information and only after confirming the correctness of the selection, start investing. Only in this case will he gain experience, regardless of the result of the investment.

Risk is what have discouraged a lot of people from investing and that is like the key somtimes that can take you to the next level, but people are to afraid to lose that money. People that are new to anything investments will find it very hard to make certain decisions when it comes to investing but their is no choice they either learn even when they don't succeed, or refuse to invest at all. But you just have to push your self and be ready to actually invest. And investing what you scan afford to lose is when you start then you can take more risky decisions, to see what results you will get. And if the investment should fail it's not a new thing, so we can not assume that when we start it won't work we just have to be positive.


Given up is old school now is the period were you keep trying until it works you will not just do one or two tries and the next thing is that is not working and you make it an abandoned project, this is somthing thay you have to think of when ever it does not work according to plan, you take another direction and you keeping trying till you make it work.

Investing is a risk which only the serious minded risk takers can take. It is not easy for a newbie to make investment decisions, especially when they have to rely on another person's opinions and advice which they are not certain are true. If a newbie keeps being in doubt, he might not have the guts to invest. At that point, he just has to take that risks and invest what he can afford to lose. If at the end the investment fails, then he has gained an experience and learnt a lesson on his own why the investment failed. The money lost is the price he has to pay to get the real investment idea. I have been in that situation before finding bitcoin.

The idea is that you keep trying until you get it right, but be smart to know when a particular investment advice seems fishy. The essence of asking questions is so we can get it right, but if we allow greed lead us into the wrong investment, then it is solely our fault.

There is no certainty that the person you are asking for advice is really well versed in the current situation and will be able to recommend a good investment object to you. The situation is completely different if you apply to a specialized fund that provides services to individuals to invest their funds.

It may actually be a red flag if someone is trying to convince you to invest in a particular coin. However, I wouldn’t say it’s always a red flag; it also depends on the person who is advertising the coin to you. For example, I study my close friends, and I am somewhat confident that they would never push me to invest just for their own benefit. If my friends are the ones who introduced me to the cryptocurrency industry specifically Bitcoin and at that time, they genuinely convinced me to invest, it wasn’t a red flag. If anyone tries to convince you, my advice is to do your own research and not automatically conclude that it’s a red flag. If I had not thought Bitcoin was a scam when I was introduced to it, my story could have been very different by now.


Bitcoin is the best investment in the term of less risk in cryptocurrency industry, once someone can get well secured wallet from it Bitcoin investment. I am confident that the such person don't need to worry much about it Bitcoin investment with time it will surely be at reason profits.and which also know the more you invest in Bitcoin the more you will able to make good profit, and someone can just be using DCA method to be accumulating more and with this someone can able to get Bitcoin at different levels of price and it also make it easy for someone to accumulate more Bitcoin.

People ask question to know the right time and the right place to invest their money, because when you ask professional investors question, it will be very hard for you to fail in your investment because some of them have experienced some failure which they don't want other people to do the same mistakes again. I ask question to be sure of what am doing in  a particular investment,  BTC and crypto investment is different from physical investments where you can see your mentor one on one before investing your money, but BTC and crypto investment is an online investment which you will not see your mentor but you can make use of the tools your mentor impact to you to become successful.

I only asked questions when I was a newbie, which I will advise some Newbies to always ask seniors question before investing in any project in the market and it will help them to maintain profit making.

Investment comes with choices and not by force. People don't need to force me into investing (they can't) because i prioritize each of my step towards how i want to spend my money with the highest expectations of getting profits from there later on. Many of this new coins are now shitty, no true value and it takes a lot of personal research to get into it, so applying extreme force to get me into purchasing part of the coin will only put me in a position to see more reasons not to invest, if at all their potentials where as good as talked about then it won't take much to convince into investing in it.

No, not truly bias to that extent, apart from the earlier Altcoins like you mentioned, it is hard to predict on the future of any other Altcoin coming into the market. Doing a wide guess we see a lot of new coins coming into the market but barely can we identify any of them to still retain potentials as claimed, most of them already crashed out the market and are worthless leaving those who trusted and held in their balance to raise their profits to nothing that is the reason why it's better more gambling with these new project, a quick buy and a quick sell even at that their is still a 50/50 chances of getting the opportunity of selling.

I can understand this on point. But isnt it bias for bitcoin and some relative altcoin to speak of it as gambling? Yes there are shitcoins and memecoins that we can do some profits off them since its classify as very volatile asset and thats gambling. But for the sake of some good altcoins I think we could say that they pass that form of understatement like ethereum, avalanche, and some good ones. Anyway thanks for a nice expound.

The hardest part their is to know which people they should trust since there's to many of them releasing some statement regarding on investment matters, but only few of those people have genuine intention to help newbie to learn more better approach on how to deal with their investment.

Since we can't deny the fact that to many abusers around and they take advantage of innocence of people for their personal gains. That's why aside from looking forward to seek for profits related to investment option those people suggested much better if we verify this from multiple sources. Since its important to know every aspects of said things that we are interested from and to know if there's relevance on the claims they had posted.

I think the difference for this two is clear, investment is for bitcoin only as you have the ability to safeguard your funds from it depreciating in value like fiat’s because it is an edge against inflation and at the same time one is opportune to get a ROI from it due to its volatility which favours mostly long term holders. In terms of the to reward ratio bitcoin is the safest option to invest in. But this doesn’t mean one cannot trade alternative currencies.

The distinction between bitcoin and alternative currencies are that the former is more or less an investment to me but when you look at Altcoins then you’re not actually investing but rather gambling, which has made some traders some huge profits and at same time some big loss. So if one is actually looking to extremely maximize their funds i simply have them get it that with bitcoin it is a long term investment while the Altcoins are simply gambles that could pay off if it goes their way, the type to altcoin to pick then is dependent on knowledge you have and which niche works better for you

Whenever someone tries to force me to invest in a particular coin, then I don't invest, because I will start thinking the person has a motive why he/she wants me to invest in the coin. If you think a coin is really a good one and it is worth investing in, then all you should do is just to encourage me, but never force me to invest. If you encourage me, then it’s left for me to do my research and decide if I will be investing or not. Any one forcing me to invest in all this shitcoins, I always have it in mind that they are working for the team, or they are also part of the team, and they are looking for ways to scam people.

Bitcoin is just the best coin that we can invest in without being scared of being scammed, maybe the coin will dump and will never rise again. Whenever bitcoin dumps, if you can hold, with time it’s going to bounce back and you will be able to make your money back, so I am not always scared when making bitcoin investment. Just make use of the DCA strategy when investing and properly secure your bitcoin, and you don’t have to worry that you invested in the wrong coin. As long as you can hold bitcoin, you're going to make profit.

OP doesn't have to trust but when he can verify, he will be fine and can he do it, it's by simply following the basic steps of decentralization, that's the only way he can verify and that by using non custodial wallet which must be downloaded and signature verify from the website so as to avoid downloading fake custodial wallet or just buy a wallet directly from the official platform where hardware wallets and cold wallet are been sold.

Never entrust your Bitcoin to any centralized exchanges, I'm saying this because some people like to use centralized wallet, if you don't care about your privacy that's the owner problem but don't be daft to leave your coins with any centralized exchanges, withdraw them to your personal wallet. However, if you use decentralized wallet, it's the best for you and your privacy.

I mean it should be common to ask first if you are going to invest in something that you don't really know, then you should ask something that is expert in that field what you should do, if you want to invest in something, probably like Bitcoin then you should ask someone that already has experience and that is already expert on Bitcoin investing to ask something about it that is going to help you when you do the same.

If you know the right people then ask for their help, but when it comes to cryptocurrency investment, it is always recommended for every investor to invest on their own, learn it on their own and don't let anyone invest using their money, because that is where a lot of investors get scam, losing their investments. I suggest to not trust anyone on cryptocurrency.

Its not only with crypto currency if you want to choose a part in anything thing concerning making money you have to be very ready to want to make money, you have to be very committed and be ready to learn because you will not be able to achieve anything with learning and its either you register for a class or you get a mentor to make things easy for your self, crypto might looks interesting but worst than we think. when you don't follow the proper channel.


Their are people that give advice on what they them self don't have idea about which is very dangerous because if you should follow their advise it will just lead you to the bush because you can not give what you don't have. and if you are looking up to social media for anything then you will finally know how dangerous that place can actually be because you don't need anything from there most information their are all false.