Will You Advise Newbies To Enter Bitcoin Now? - page 28.

lienfaye

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Quote from: CryptoBry on May 08, 2019, 01:13:13 AM

With this backdrop in mind, will you advise a newbie to bitcoin to enter at this stage so he can be able to ride the coming "boom" or will you tell him to wait some more until the market is dipping?

Regardless on the status of the market I often tell to those who have no idea what crypto is to try engaging themselves in crypto particularly on bitcoin and see if they can gain something through their experience.

However I dont encourage or dictate them to invest without proper knowledge on how things work here. I want them to have their own will and understanding so they can decide for themselves.

The value seems continously moving upward and it might an indication that bear market is over, therefore a good timing to enter in the scene especially for newbies. But its better to dont have high hopes because the market can turns up and down in snap.

enhu

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Why not. What we need right now is more money coming from new investors on crypto. We have seen finance institutions investing into crypto since 2017 if they have been trusting the blockchain for quite awhile new investors in crypto shall also deserve the money of the future. If a person has to look for the investment its not hard to figure cryptocurrencies as its been advertised a lot on youtube as well.

meanwords

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I would just take some time to explain what is the potential of Bitcoin to grow in the upcoming years. I'll let them draw conclusions with this. It's hard to advice some risk taking ventures if those newbies don't know what they are dealing with.

Nhor1011

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Well,i can introduce bitcoin to newbies but i will not advice them to enter in bitcoin. It is important that they can make their own research and study about bitcoin and of course do their own decision if they like to enter in bitcoin. It's difficult to give assurance that they can get money or make profit if i will advice them to enter in bitcoin because we all know bitcoin is volatile and using it needs to have knowledge to avoid loses.

_Django05_

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Quote from: CryptoBry on May 08, 2019, 01:13:13 AM

With this backdrop in mind, will you advise a newbie to bitcoin to enter at this stage so he can be able to ride the coming "boom" or will you tell him to wait some more until the market is dipping?

Sure, i would do tell them about bitcoin. But i will encourage them to do their own research about it before making any decision on investing before it break them down. Bitcoin volitility is incredibly high, whether to invest or not, it’s up to to them.

BrewMaster

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until the day we reach mass adoption and bitcoin price is above $1 million it will remain a good time to enter bitcoin for anyone and for those who are already in bitcoin to buy more and store them in their cold storages.
and now, since the price is still closest to the bottom and is about to start the big rises (we are currently in the first leg up of the upcoming rallies) it becomes an excellent entry point for anyone who has been waiting for such a time.

Betwrong

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Quote from: CryptoBry on May 08, 2019, 01:13:13 AM

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With this backdrop in mind, will you advise a newbie to bitcoin to enter at this stage so he can be able to ride the coming "boom" or will you tell him to wait some more until the market is dipping?

In the end of November 2017 I created a wallet for my friend who wasn't into crypto at all. I sent him $5 worth of BTC, and when it became $10 he asked me "Should I buy $1,000 worth of BTC?" I said, "I don't know, it can go down too." Although I personally didn't expect the slump we experienced later, it appears I said the right words to him. He's not rich, and losing $500-$600 could be pretty painful for him.

In short, I wouldn't advise a newbie to invest in Bitcoin unless the amount he's going to invest is nothing to him/her personally.

spadormie

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Yes and no. Yes because base on what statement you presented, bitcoin is gaining price again and will create a high price this year. Gaining a good price makes cryptocurrency market gain another investor from different parts of the world. No, because anytime you can really enter the market. But it's up on your own risk if you wanted to enter now or later.

AjithBtc

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Right now the usage of bitcoin has increased, but in terms of percentage of I believe it is less than 3% of the people use bitcoin. Newbies can be advised to use bitcoin, but we need to insist them all the risk factors associated to it prior of making an investment. Though the price has increased high I'll advice newbie to enter bitcoin as there is promising growth.

Tagus45

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No, I do not encourage beginners to buy bitcoin before he can understand and understand bitcoin, with him being able to understand bitcoin he will be able to make his own planning.

Lucius

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It is completely wrong to advise someone to invest in something, especially if this is extremely volatile as bitcoin. In addition, bitcoin investment is not nearly as easy or simple as investment in stocks or real estate. What I would advise to anyone who wants to invest in bitcoin is to spend some time (few months), in the gradual understanding of what is it all about. The next step would be to buy a small amount of bitcoin ($10 - $20), downloading wallet and practicing transactions. In case a bad thing happens (hack, losing of wallet...) damage will not be too big.

What is important is not to push someone into something that is not ready for, this can have very negative consequences, not only in terms of losing money, but also in disrupted human relations.

izanagi narukami

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Remember that cryptocurrency is high risk investment so you need to warn them this before too late.
For me, it's great choice to let people know there is alternate investment that they can choose and made profit up to 200%
And it's really difficult fo find people interest on crypto !

bhabygrim

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Joining Bitcoin is a matter of choice but before joining I must advise doing proper homework, research, and analysis as it will help to dive safely in the Bitcoin market.

i agree with you. Before joining or entering crypto society they MUST research on what it is all about.
You still need to work it out by yourself but you can also learn in forum. If you are going to enter crypto right now.
Forum is one of the best training ground and also for you to gather more information.

kryptqnick

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If by advising the op means partially taking responsibility for potential losses, they no way, just like others said. Of course each person is responsible for managing one's own funds and making financial decisions. I will express my opinion, however. I believe that the market is clearly moving towards a gradual upward trend. The price is increasing in general. If one of thinking about a long-term investment, now might indeed be a good time to join. That is, if a person is ready to stay calm in case the price temporarily drops.

minersday

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Bitcoin investment is all about ones understanding about how the entire crypto space and the bitcoin market operates and the basic factors that affect and causes the fluctuation in the market value of Bitcoin. Advising someone to join or enter the bitcoin space without the person understanding the above factors will just be a waste of time and the person might lose a huge portion of his/her investment capital. It will be better to educate newbies about the nature and purpose of Bitcoin rather than advising them to invest in Bitcoin.

shesheboy

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Quote from: jak3 on May 08, 2019, 05:47:53 AM

I do not think telling a newbie about the price is a thing at all. why will a newbie care about the price in the first place?

its because bitcoin is a currency and it has a value or a price , that's why this should also be included when you explain bitcoin to a newbie

Quote from: jak3 on May 08, 2019, 05:47:53 AM

I will surely tell a newbie to get more knowledge about the markets and trading before getting into one of it.

teaching them the market and trading is not good because that was already for the intermediate users and not for a newbie . as a newbie they should only earn the basics ( e.g how to open an account on a bitcoin wallet )

we must all advise newbies to enter bitcoin so that we can help them to earn extra income and extra knowledge as well on what is a bitcoin , blockchain and cryptos .

jak3

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I do not think telling a newbie about the price is a thing at all. why will a newbie care about the price in the first place? I will surely tell a newbie to get more knowledge about the markets and trading before getting into one of it.

Pursuer

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there is no thing different "now" in my opinion for me to advise or not advice a newcomer to enter bitcoin. I have been doing this for a long time and still do. I am not encouraging people to become "investors" in bitcoin which is the main reason I say it doesn't matter. I am always encouraging people to become bitcoin users instead and benefit from the currency and decentralized aspects of bitcoin. and that knows no time or restrictions. of course it is always better dump your fiat for bitcoin when bitcoin price is in a dip but only as a cherry on top not the main thing.

Haunebu

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Quote from: The Cryptovator on May 08, 2019, 04:46:34 AM

I wouldn't suggest anything right now. People's just want to enter on bitcoin when its start up trend. Yes, even few people's asked me when bitcoin start up trend, but unfortunately that people's don't believe on bitcoin when it was dumped. That's our nature. Now bitcoin is on confuse mode. We don't know exactly what is going to happen and we are not legal advisors. So they have to decide themselves who want to invest on bitcoin. But just remember we don't know where is the bottom of bitcoin.

You are stating the obvious. No one knows the bottom and no one can accurately predict the price of BTC at any specific period of time, but this in no way means that we should not try to spread the world regarding BTC in a positive manner and push adoption upwards.

The one rule that everyone needs to understand before investing is : Invest only what you are willing to lose!

iqlimasyadiqa

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I always tell a newbie to try to enter the world of digital currency and try to invest in the world of bitcoin. in my opinion that every moment has a good chance and a newbie must always learn in every situation. the more hours someone flies in learning bitcoin, the more expert they will be. in fact, I always invite everyone who is not familiar with Bitcoin to be able to feel how useful the use of bitcoin and digital currency is.

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