Bitcoin Forum

*Understanding Bitcoin before investing*
 Before one start crypto investment I think you should consider whether crypto fits your portfolio goals, risk profile, and personal convictions before buying. Crypto is highly volatile, and does not have the same regulatory protections as registered securities.                  .
 *Risk tolerance in bitcoin investment* :     Bitcoin is a high-risk investment, and you should carefully look at your risk tolerance before you invest. If you don't feel comfortable investing in volatile assets or only have a small sum of money to invest, you may want to consider other investment options.
What do you need to know before investing in Bitcoin?
   
What beginners should know about Bitcoins before investing?
Bitcoin is a form of digital currency that uses blockchain technology to support transactions between users on a decentralized network.
New Bitcoins are created as part of the mining process, as a reward to people whose computer systems help validate transactions.
Buying Bitcoin exposes you to a volatile asset class.
The question is what do you think a newbie should know as elementary knowledge before investing in Bitcoin

bitcoins risk tolerance is only high when you are buying bitcoin at it market high
so if people are buying low selling high. they can mitigate risk

bitcoins risk tolerance is only high when you are buying bitcoin for short term mega greed expectation
bitcoins bull bear market cycle is ~ 4 years so expecting short term profits is riskier the shorter you are willing to wait
to mitigate the risk dont make short term decisions or use fund you will need to extract short term

though bitcoins volatility does have market cycle expectations(based on previous performance) of multiplier profits. trying to predict the best bottoms and best tops is where the most risks occur.
to mitigate those risks do not try to be greedy to want to grab the lower most bottom perfect timing and upper most top perfect timing
instead set sensible rational gains % to then extract your funds with profit.

for instance if other stocks/shares/savings interests are only offering <10% averages a year:
dont get greedy wanting 10x(1000%) a year via bitcoin. you will be disappointed
dont get greedy wanting 2x(200%) a year via bitcoin. you will be disappointed
dont get greedy wanting .5x(50%) a year every year via bitcoin. you will be disappointed
dont get greedy wanting .5x(50%) within months via bitcoin. you will be disappointed

set a more rational amount. buy when the market is low and sell when its at your rational gain
EG anything better then 10% is GREAT opportunity that beats other markets, so be happy even if you just set a 10% gain and wait for the target to hit

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EG
bitcoins 2016-2020 market cycle had a $500-$20k low high(based on 2016-2017 performance)
if someone see that as a 40x opportunity. they are already thinking too riskily
if they bought at $15k thinking they can still achieve multiples, they are already thinking too riskily
if they are thinking of achieving multiples in months they are already thinking too riskily


EG
bitcoins 2020-2024 market cycle had a $15k-$70k low high(based on 2021-22 performance)
if someone see that as a 4.5x opportunity. they are already thinking too riskily
if they bought at $60k thinking they can still achieve multiples, they are already thinking too riskily
if they are thinking of achieving multiples in months they are already thinking too riskily

---

those wanting to buy and hold for things like retirement. you dont need to be checking prices daily if you have no expectation to sell daily, anytime soon. so dont panic about the daily whims of markets
prices of anything are not suppose to only go up, they can come down. so dont panic when things go down if you didnt expect to sell anytime soon
just let the market cycles play out over time

• Bitcoin does not use blockchain to support transactions. Transactions are what makes up each block which is joined with the rest to form a chain.

• Miners do not validate transaction, they confirm them by solving the cryptographic puzzle and make their candidate block the next confirmed block.

Every asset has a certain level of volatility.

to clarify
blocks do not need to include transactions (see "empty blocks" examples) however no one can consider a transaction as confirmed unless its seen inside a block

mining pool managers manage the block candidate and transaction selection. miners however do not see transactions, they just produce a sha256 identity thats expensive and timely to recreate for the block

Why if Bitcoin doesn't have regulatory protections? there's no point to have regulatory protections. FDIC insures your money in banks up to $250K, but there's no guarantee if they will refund your money when the banks collapse, there's no deadline when you will get your money (remember the longer they pays you, the longer your money will become small due to inflation), etc.
                  .
They need to know how to differentiate CEX, DEX and non custodial P2P.

What's the point to know Bitcoin is decentralized bla bla when they're use Binance to hold their coins? they already ruin the Bitcoin's purpose.

You're right. When you break it down into nuances, there are situations when blocks do not include transactions, but those happen very uncommonly and far between.

FDIC only sends out cashier cheques as a last resort, usually in days-weeks of bank failure. but first port of call is to sell a failed banks database of customers+balance to another bank to manage. again usually in days/weeks

bitcoin does not have this insurance when using CEX so always advisable to not store funds in a CEX.
it is the users sole responsibility to secure their funds. much like money under the mattress.. there is no insurance/third party refund service
any service that does offer it is where you give them your funds and you relinquish your ownership. but currently no service would or should or could offer that, honourable and guaranteed

Bitcoin will be hard to comprehend particularly for a less technical Newbie and it comes with some hard lessons to learn.  About investing, life et cetera.  I am confident this is valid for all of us.

Do not play with the course of the Market if you are not ready for big losses every now and then and if you are greedy or impatient.  It is much more intelligent to choose Dollar Cost Averaging instead.  It always works just fine.  Trading is fine for small amounts risked.  Once you add too much money in the pot, you will start taking unnecessary and irrational risks unless you can REALLY control yourself.

Anyway.  Most of us are not made for Trading and this is perfectly fine.  Just purchase every now and then and you will most likely do great IF the previous Market runs are going to occur again.

Can the item of investment be influenced by any personal convictions other than the desire to make a profit? :)

Securities are also subject to volatility, of course, not as highly as that of crypto. No regulatory protections will save you from the collapse in the value of securities and the accompanying losses.

Bitcoin is just well suited for small investments. Try to find securities in which you can invest $5.
   
Bitcoin is now more of a digital security (stock) of a technology company or something like that.

Is the stock market really that stable?

They have to learn that they can buy a fraction of BTC like 0.005BTC, I think this is the most basic and they can send BTC to anyone as long as the wallet destination is also a BTC address to which exchanges also have BTC address where they can deposit. This is the most basic and no blockchain knowledge is needed.

Know when to buy and when to sell. This I think is the only I want a newbie to understand as an investor because it's the only they can make money in investing BTC.
This includes learning when it's the halving and then the bear market will almost be over. Trading BTC is a different topic for a newbie.

You should know that Bitcoin is a crypto-currency that anyone can purchase and hold without any interference from a third part but you'll have to know about P2P trading in order to purchase Bitcoin with 100% privacy. An investor should also know that Bitcoin is digital in nature and storing it on a online exchange can be a very risky thing.
Beginners should know that Bitcoin can be a useful asset if they invest in it with complete care. A beginner should know that one should have his/her own personal wallet if he/she wants to invest in Bitcoin. A beginner should understand that sharing your wallet's private key and seed phase with anyone will allow that person to transfer the bitcoins that you have in that wallet.

What a coincidence here haha I've just replied to a newbie on his misconception about Bitcoin's price action, and the difference between the open market asset and gambling. So moving onto what Op is saying, I don't think for everyone the learnings should be the same as we can classify the categories of people entering the Bitcoin community some are Investors, Some are Holders and some of them want to enter as miners (An exception) and everyone have their own mindset while entering we can just quote some of them general things.

Everyone needs to know what a is Public ledger. (Blockchain).
What is Digital currency and how does it work? (Sending & Receiving)
How to secure your digital assets. (Wallets).

These can be baseline education requirements for everyone who's entering Bitcoin further he can learn according to his requirement of the role he wants to have in the community.

Yes of course like that, as beginners we must understand very well with the conditions that occur, where it will greatly benefit us as investors, and not only that, most of the investors they hold it if conditions are very unlikely.
As a beginner we imitate if step by step if we want to take advantage of the benefits obtained and so on my advice is that a beginner must really master the basic techniques, there are many free services that we can learn from so that profits are increasingly in our favor.

hmm, Op the way you are explaining Bitcoin is not a good explanation of Bitcoin I hope you also need to educate yourself about Bitcoin. In my honest opinion, if we come into the crypto space bitcoin has very less risk to our funds well if I see it from my view I am holding it for long-term investment and will fetch my amount when I reach/hit my goals and on the other hand, as you are saying the risk is too high in Bitcoin asset is not a good definition of it please do some good research on its ecosystem then you will come to know what actually it is.

well, let's talk about "volatile" Dear it is a digital asset so it is obvious it is a volatile asset. Mention me any digital asset that is not volatile haha. The thing it is less risky to invest in Bitcoin if you want to enter in crypto space my suggestion will be Bitcoin DYRO. Tell me one thing haha if you consider it too risky while entering in the crypto space then what kind of shit alt projects you would prefer to invest in/buy? just asking okay? if you feel good then answer this question. Bitcoin is the king here alone which has been increasing its value since the day it was born what do you think the time when everyone comes to know about it and want to invest in it then you can't imagine where the price will go because there still many people who do not about what bitcoin actually is just like you.

Just wait for the time when everyone desires to own it or buy it and that time may be late for them because I think the price will be too high due to demand only those people who had bought it for the long term and still buying will be in good advantage becaure of their strong belive in it. At the end i would like to suggest you that dear do research on it that may help you to understand it. Many Thanks!

to clarify
its volatile because its an asset that is internationally accessible without needing lengthy 14day-30day delivery times

so whilst slavic countries value it at a mining cost of $24k so can sell at profit at todays $48k (2x profit)
pacific islands value it at a mining cost of $144k so happy to buy it at $48k (3x discount)

bitcoins current potential window of speculation due to international access and underlying value cost ranges, opens a wide window of market expectation that can go down to $24k in dire times of $144k in hype times. depending on whoms buying/selling and the season of speculation

I know that many people will disagree with what I'm about to say but I think that you can buy bitcoin even when you don't understand a lot about it. I'll try to explain myself better: if you care about finance, inflation, privacy, keeping control of your money, then bitcoin is already good for you. Just buy and then study more and more. The only downside is the psychological part because not everyone is able to stand market dumps.

Knowing that Bitcoin is a volatile asset is enough, in my opinion. I know that one should know the basics of Bitcoin before they gets involved because you simply can't use something if you don't know what it is, how it's used, and what it's used for, however, from an investment viewpoint, you don't need any additional knowledge other than knowing that it is a volatile asset and when you are trading volatile assets, you are supposed to aim for a lower buying price and a higher selling price, which is the basic principle for trading.

That being said, anyone investing in Bitcoin needs to understand that they aren't supposed to use money that isn't kept idle and might be needed in the near future because the market is highly unpredictable and you cannot know when it might go up or down and your money can get locked for weeks, months, or even years sometimes.

Before any newbie should invest in Bitcoin, they should grasp several crucial aspects. Firstly, they should that Bitcoin operates as a digital cryptocurrency, independent of governmental control. This means its value isn't tied to any specific nation's economy or regulations. Secondly, it's vital to understand Bitcoin's volatility, implying its price fluctuations can be significant and rapid. This volatility can lead to substantial gains or losses in short periods, necessitating caution and strategic decision-making.

Moreover, newbies must prioritize securing their Bitcoin holdings by comprehending proper wallet management. Without adequate knowledge of secure storage methods, such as hardware wallets or encrypted software solutions, investors risk losing their assets to theft or technical mishaps. Therefore, educating oneself on these fundamental principles ensures a safer and more informed entry into the world of Bitcoin investment, mitigating potential risks and maximizing opportunities for financial growth.

Newbies should know that investing in bitcoin carries high risk. If they are not patient enough and would always want quick profits, then they won’t be good with bitcoin long term hodling, since the price varies from time to time. One day it’s going upward, then suddenly its price declines, so your faith and patience will definitely be put into test.

However, as you go with bitcoin long term hodling, you will also develop your own strategy and slowly understand the process. Just learn from the early successful investors and you will have the chances to be like them too.

For those who don't have patience when looking at market conditions and they want quick profits from investment, it is impossible for them to get this because the price can change at any time and for some who are just starting out they will panic because they don't know how Bitcoin works so some don't dare to hold until they sell at a loss.

Yes, of course it would be very good if in the process of collecting Bitcoin we could learn about it from those who have a lot of experience in investing in Bitcoin and also we have to be diligent in looking for information ourselves and if we don't understand it well then we can ask those who have experience in this field to be as successful as they have become.

A newbie should know that they can invest, but investing puts you at the danger of loss and fixes you at a position where you are at risk of cybercriminals. A newbie should understand most importantly for me how to keep their bitcoin investments safe. Safety should always be prioritized, if it is not, the result will be regrets because when you loose you bitcoins, it hurts a lot that it can even affect a newbies decision to want to continue investing in bitcoins. If you introduce any newbie to bitcoins, always give them serious security tips.

any newbie in any market should make it a point to do his due diligence before splurging some of his funds as it is like investing blindly. and that means, you can easily be wrecked by your actions if you don't know what you are doing. most noobs actually thought that this market is their saviour, and later on, they will see the reality that is a challenge to earn good money as there are so many considerations to take and it is not easy as 1-2-3.

just look at how you trade btc or alts -
- when is the good time to trade if there is roller coaster ride because of the high volatility on this market
-  considering alts > how are you going to choose from those thousands alts?
- which exchange can offer you better financial services?

Know that bitcoin investment is not quite easy but certainly hard due to its risks. Even if it’s less risky, but if you don’t know how to manage your emotions every time the price suddenly drop due to price correction or market crash, you will never become successful with this type of investment. And to be honest, bitcoin as a long term investment is certainly not smooth sailing, there are times that you’ll think of quitting and leaving the market for good because of market volatility and its uncertainty.

I think this kind of topic has already been talked about several times, and we are only repeating ourselves. Anyway,  it can't be helped. Bitcoin or any crypto currency can be viewed and subject to money or profit. But the thing is, there's a catch. It may give you a lot of money, but you will go through a rough journey. You see, bitcoin and crypto currency investment is not as simple; it requires a lot of commitment and patience. Also, you need to strengthen your mind and emotions as it will take a toll on you, especially mentally because it is stressful and you will feel a lot of emotion as things may not be in your way. So you should prepare yourself for the hardships of investing in this field because it is not that simple. If you're weak-hearted, it could be bad too, but as time passes, you will overcome it if you have the will to do so.

• Know how to buy and sell
• Know where to buy 
• Know when to buy and when to sell 
• Knowing how to manage their portfolio and risk
• Not having a get quick rich mindset

It is fine that newbies should read and understand how bitcoin works before creating topics and making blunders. Learning is earning, if you learn more, you can easily earn more.

Security should always be given high emphasis. Otherwise, all your efforts and hard-earned money will just go into waste because you are busy accumulating bitcoin but not safeguarding its security which is the most important. Newbies should be aware that investing in bitcoin does not only require knowledge but wise management as well knowing a lot of scammers are waiting around the corner just to find new targets for their next victims.

For me, this is already good for investment-related.
But for Bitcoin itself, we need first to know what really Bitcoin is, even the basics, and how it works are already enough.
Next is basic internet safety like identifying scam projects or platforms. Because most of the things we will do once we are in investing in Bitcoin is all internet related, most are online.

And in addition I'd like to express the importance of securing your bitcoin.
One must learn how to identify phishing scams and other form of scams. Learn how to apply extra layer of security necessarily to avoid being hacked easily.
With the continued spread of scams, it's really annoying to hear a lot of complains about being scammed or bitcoin suddenly lost.
Well, if everyone knows how to secure their assets, these scammers won't going anywhere.

Investing in the unknown is definitely a risk, regardless of whether the investment is Bitcoin or something else you have to understand it well before investing otherwise there will be a big risk.

Before investing in Bitcoin, you must understand the nature of Bitcoin, the markets, price cycles, and determine the times of buying and selling, etc., so that you are sufficiently aware of the nature of the market in which you are investing.

The crypto market is volatile by nature, but it is a profitable market for those who know its rules and benefit from its volatile nature, but those who enter the market out of greed and want to get rich quickly will surely be disappointed.

Bitcoin investment is different from fiat investment, and before going into Bitcoin investment, you need to acquire the knowledge of cryptocurrency before thinking of how to risk your money. But if you achieve the knowledge before going into cryptocurrency investment, I think it will really help you to achieve a lot of things that will be giving you confident to hold that coins long till the bullish season appear before you can sell to see more benefits from your investment. Newbies need to exercise patience in their holding, if truly they want to achieve what professional investors are achieving from Bitcoin investment, because once you endure for the bearish season to turn to bullish season, it will definitely help you to increase your income in the future.

Newbies should know that bitcoin is not a get rich quick investment. Although it’s capable to change someone’s lives and make it more comfortable to live, but it does not happen all of a sudden. They worked hard for it and even spend big amount of their time and their hard-earned money just to accumulate a significant amount of bitcoin that will offer them benefits in the future. There’s no shortcuts in bitcoin, if you take the easy way, you will profit but eventually lose all of them in the end. Unlike gambling, as long as luck is with you, you will end up gambling having your pocket full of money.

However, bitcoin investment is far from gambling. Regardless of your capital, if you continue it with DCA every time you receive spare money, your success will be certain, and having luck is just a bonus.

To invest in BTC, you must at least have basic investment experience, so it will be easy in the future, meaning not jumping in and entering. That way we might easily learn to see the opportunity to buy bitcoin at a low place like before or other options are waiting until they stabilize and of course not That's the purpose of buying and the recent increase in value is partly proof that BTC is indeed the most worth investing in.

Absolutely there's a lot of things you should know before investing.

Before undertaking any project, you must collect all the information you can and study everything about it
Also, investing in Bitcoin is not an easy matter. You must be familiar with the foundations of this currency and read every analysis and information on it.

Before jumping into Bitcoin I think newbies should know it's a digital currency with no big boss controlling it. Transactions happen on a decentralized network using blockchain and people earn new Bitcoins through mining, where computers validate transactions. But Bitcoin's value can be all over the place so we have to be okay with a bumpy ride. It's not like regular investments, no safety nets here. Take a good look at your comfort level with risks and maybe explore other investment options too

When I enter bitcoin is to add to the profit. So I asked how can I get started? My friend gave an answer
1. You have to trade.
2. You must be registered on the trade.
3. You must own BTC/ crypto/ fiat to start looking for profits.
4. You can make a deposit with little money.
5. You must be able to buy and sell.
That's a quick summary, there are small things needed but you just need to not be afraid to ask questions and read. After the above 5 things other needs will adjust. You just need to always learn. I started in 2015 and to this day I still continue to invest in crypto.

We should because this is very important before going deeper, a pre-requisite. Understanding the basics will guide us in the direction where we want to happen. Of course, this is not enough to achieve success but at least, we have started with knowledge and ideas which makes us commit fewer mistakes than those who enter the market with no-how. Otherwise, we are doing this hoping for a piece of luck which I don't think works. We have to keep in mind that investing is not just as easy and simple as most people think. Nobody was able to reach their goal of having an empty mind because having knowledge is the ticket to success.

         -   It is really important that some investors first know what it is and know its benefits when they have it and use it. That's why it still
has pros and cons. When it comes to the benefits, it is known for being decentralized, transparent, and having proper security. In terms of cons, it is always prone to illegal activities and volatility, and adoption is very limited.

That is why it is very important that investors know this rather than not knowing that they are investing in Bitcoin.

Before I bought my first Bitcoin,  I was told Bitcoin is that great opportunity i need to liberate myself and my family out of poverty. I do not think they were wrong,  but what they failed to let me know was that I have to hold for a long period of time if I want to beat the Bitcoin price volatility and make profits.

Many newbies got discouraged because they bought Bitcoins at the wrong time (when the price is high) and are in a hurry to make profits immediately. This quest to make profits immediately makes them to compromise and sell of their Bitcoins when they feel Bitcoin investment is not worth it. Bitcoin is a high risk investment, yea but it is only those who are not planning to embark on a long term journey with Bitcoin that often suffer this risk.

There are lots of benefits to be gained from investing in Bitcoin but, Bitcoin is not a get rich quick investment. Newbies just have to prepare their minds for this so they can face any challenge that comes their way in this their investment journey.

Before you start slaying dragons, you gotta figure out the controls, right? Same deal here. Spend some time reading, watching videos, and soaking up knowledge. Trust me, the more you understand, the less lost you'll feel when the charts go all wonky.

Next up, patience. Bitcoin's price jumps around like a kangaroo on espresso – it ain't for the faint of heart. Don't expect to be a millionaire overnight, and don't let every dip make you wanna cry. This is a long-term game, so chill and enjoy the ride.

Now, let's talk limits. We all have that inner gambler, but with Bitcoin, recklessness is a recipe for disaster. Set clear boundaries based on what you can afford to lose, and don't let emotions cloud your judgment. Remember, walking away is always an option.

Since Bitcoin is not regulated by any central authority, it is crucial to understand the basics of digital currency before diving into Bitcoin investing .  We know Bitcoin works on a blockchain.  It is a technology that ensures transparency and security.  Bitcoins are either mined or acquired from cryptocurrency exchanges.  Moreover, the concept of wallets, personal storage methods need to be managed before Bitcoin transactions.  Bitcoin price volatility requires a thorough research approach, emphasizing a long-term perspective for management and potential investors.  Education and awareness about digital currencies is necessary before investing in cryptocurrencies.

It is a common scenario nowadays for newbies to get influenced by others, who are often exposed to social media, and friends who boast about their sudden increase in profits by investing in cryptocurrencies. As newbies also want to make money, they follow the same path and invest when they see it, which is during the prices are high, without understanding the risks involved.

When someone has the desire to invest in crypto, it would be better for them to understand for themselves the investment they are going to make and they should never invest, just follow other people and they don't understand the investment at all because everyone who decides to invest is certainly looking for profits from the investment. and if they do not understand well the basics of investment then it is likely that they will make wrong decisions in investment which makes them lose their money in that investment.

Actually this isnt really just that on Bitcoin or crypto investment but also in other forms of investment as well on which it would really be just that right that you should really that studying or having those research first before making any more. We are talking about money on here on which it would really be just that right that we should really be making those steps if you dont like on losing money.
Knowing the basics or on what it is all about would be always that best, you do know that on what you are risking into. Most people wrong thing that had been done is that they would be rushing
up on making investment without any research.

This is why on the time that they would really be having those kind of issues or problems then they would really be shocked on that one until they would
realize those mistakes that they have done and would really be tending to changed up accordingly but well learning would always come at the end.

Newbies should never invest in bitcoin without being aware of its risks and its potentials to make someone win or lose his funds, hence studying about bitcoin and the crypto space is a must. Newbies also believe that bitcoin is a get rich quick, that is a very wrong concept. I guess no investment is a get rich quick, everything should be totally worked out from the start so that its success will be certain.

In addition, bitcoin is highly volatile in nature. If you are not patient, you will easily get bothered when there is market crash or price correction, which will lead into wrong decision making and eventually sell at a loss price. Hence, being patient and understanding on the volatility of bitcoin and its market should always be given high importance.

People who want to invest in bitcoin should look for an additional source of income, or they should allocate a specific amount regularly to invest in bitcoin. Their minds shouldn't think of making big money tomorrow by investing it today. Some get lucky to enjoy such a profit, but the same isn't assured for everyone. When we invest in bitcoin, it is always good to go along with the market and enjoy the profit, and we shouldn't have any timeline within which it needs to provide profit because the market volatility could turn the entire situation against our expectations at any time.

Learning is necessary, not just by knowing what the market looks like but it plays an important role as our key to success because nobody reaches their goal without knowledge. At least knowing the basics will help us understand what is investing all about as it was difficult to make decisions when we don't have any idea about this stuff. In fact, even though we have been in the market already for several years, we still need to continue learning because we believe that this is the only way that would bring us success.

Don't go to battle if you don't know how to load and shoot a gun as you are just a dead man. Don't invest if you are not prepared yet as you just lose in the end.

In any kind of investment, you shoud really invest in knowledge as well and know what you are engaging yourself with. Many people dream of having their own investment to generate passive profit for them in the long run. Many people are also having the financial freedom to do so but why are not all people actually invest? Perhaps in this technology? Most likely they are aware that they still don't know that much or that it won't be suitable on their investment preferences due to factors such as high market price volatility. Eitherway, it would be best to learn things first. Know how this blockchain works first by doing your own research about it or asking people who are already here in this industry.

Also, know how risks play a role with investments. Set a firm goal; chasing profit 'til you have nothing left or manage the risk and to be preventive of huge rissk with small profit? I'd be always in favor of the preventive side. No success happen in a instant. Investment also is not something which would work for anyone.

It is very important for every beginner to know that bitcoin is volatile and can't be predicted when to increase or to fall in price. So many people they enter the market believing that bitcoin can just work out for them just as they think about bitcoin. Before planning to invest it is important people needs to understand it better, people not understanding the volatility is what really makes bitcoin to be complicated for them. And it also important for beginners to have the knowledge that bitcoin does not make one to be rich quick, for them not have  much expectation from bitcoin.

Beginners needs to know bitcoin is a longterm investment which they need to be prepared for and to make a good decision to be sure about the amount which is needed to invest in bitcoin. It is also important for beginners to understand the security aspects of handing the bitcoin wallet and to know which wallet is best to store Bitcoin,  having knowledge about this is also to make investment successful without lose. Understanding the basic things about us necessary because it prevent lose of bitcoin,  beginners don't need to rush in to beginners with blank knowledge.

The basic concepts one should acquire before verging to the pool of Bitcoin is the potential risks of misappropriate of Private phrase keys which could lead to lost of funds either to the point of exposure to a second party of intrudement or lost of access to your wallet.
Also as the potentials risks of lost due to the volatility of the market.
Hence, a Bitcoin investor beginner should be flexible to consultation, such as advancing your knowledge by internet researches and must not be influenced by rumours that may tend to trigger your emotions at depressions) appreciations at a falseful tendencies.
Moreso, don't forget to invest with what is affordable to be lost.

Before investing in Bitcoin, beginners need to learn the basic concept of Bitcoin, such as how to get in and how to avoid a bitcoin investment from hackers. Because after the basic concepts, the most important and indispensable task is to keep your investment secure. Because the first victim of a hacker is a person who is weak in terms of privacy, that is, he does not know how to avoid his funds from the hacker.
 
Therefore, I believed that the most important thing after the basic concept of Bitcoin was security and privacy. So I will recommend the newbie store his Bitcoin investment in a secure place like a good wallet to store his Bitcoin. In which I think to choose a wallet like an Electrum wallet, a Coinbase wallet, a Bluewallet wallet, a Trust wallet, etc. All these wallets are very secure and easy to store Bitcoin in.

Coinbase wallet (https://www.coinbase.com/wallet)
Electrum wallet (https://electrum.org/#download)
Trust wallet (https://trustwallet.com/bitcoin-wallet)
Blue wallet (https://bluewallet.io/docs/create-bitcoin-wallet/)

DYOR!

I think there are more things a beginner need to know and these things are underlook. They are as follow.

Using Bitcoin as a place to manage and keep Bitcoin on centralized exchanges: newbies are often fond of keeping their coins on centralized exchanges which has been an old practise by many, but even today many newbies are guilty of this. They tell them to avoid this not because anyone hate centralized exchanges, it's just a precaution to avoid any future problem that may arises because when exchange run into a problem, they hardly come back and your coins is as good as gone.

Another bad practice newbies need to learn is to learn how to keep quiet when they buy their first Bitcoin, you need to be a private person when you hold Bitcoin, it's not like when you have money in the bank you can brag because you know that fiat money in the bank is kyc and thing can be trace. With Bitcoin, anyone can take away your bitcoin from you and when they successfully do that, just know that your bitcoin is good as gone.

You would be surprised to the level of influence this newbies are exposed to, I have seen cases of friends telling me that they want to get into Bitcoin or purchase Bitcoin die to the fact that they have heard one or two stories of people actually making it big time through social media which obviously they know nothing about and even fail to make research, all what they are concerned about is actually getting involved in securing an investment in Bitcoin and sometimes you would try even explaining the volatility of how Bitcoin investment is and all the risk involvement but it would sound completely numb to them because they are mind is only set on the possible profits they can make through the Bitcoin investment.

I believe the OP should spend more time on the forum before creating an advisable post. Because you still have to learn a lot of things related to cryptocurrency and manage your posts well. Unless you spend more time, it's hard to get proper knowledge about cryptocurrency. However, before investing in anything, we must learn about it and gain proper knowledge so we can make the right decision. Its very important to learn how cryptocurrency works and how the volatility works on the cryptocurrency. Storing cryptocurrency is one of the key points to learn before investing in it. For newbies, a lot of things have to be learned, like how to save your crypto from hackers and scammers. Keep in mind that cryptocurrency is not a get-rich-quick method.

Before you invest in general, you need to assess yourself and classify what type of risk attitude you have when it comes to investing. In that way, you can evaluate what kind of investments you can manage or you can handle. If you're a risk seeker, crypto is a great space for you since it's highly volatile which makes it riskier than other investments. But even if you're not that of a risk taker but still wants to get into crypto, you can start by investing small amount so it won't affect you pretty much.

Studying the basics about Bitcoin is definitely needed. Like what is Bitcoin, its history, how it works, pros and cons, what to do and what to avoid and such... But aside from these technicalities, beginners should also know that investing in Bitcoin isn't something a get-rich-quick scheme. Even if you heard from others that they earn this amount of money from Bitcoin, it doesn't mean that everyone will also earn the same way that easy. If you're a beginner in this space, don't be fooled by those too-good-to-be-true stuff that others will say. It that way, you won't be left crying.

To almost anything which is not part of your daily routine, you should understand it first before your actual engagement, and more importantly is with things which has risk and involves money. If you don't? It is as good as you trashed your money into waste. Bitcoin indeed has a huge potential and is already a profitable asset however, the fact that there are investors losing money should be an enough warning to the new ones. If it is just too easy, then we should all be rich by now. Kidding aside, investments has its own process of actualization. If long time investors of different fields are taking years before they invest into something, what more in your end if you are just new with it? The reason why understanding an asset or investment is important is for you to know what you should do during downtimes. It won't always be a good season so if by the time a decline take place all of s sudden, what would you do if you don't even understand a thing? What's your plan B? How will you avoid loss? These questions will be only answered once you know enough about the investment you are interested with.

One of the basics that others forgot is the preventive measures against scammers and hackers because there are lots of people who become victims after they become investors without having enough proper knowledge on how to secure their crypto assets. They weren't aware of the danger of talking to those strange people on the internet promising them to double the value of their cryptos and you won't believe that they actually fell into these kinds of traps due to their lack of knowledge about those guys. That's why people should not consider belittling the preventive measures once they finally decide to own some bitcoins and store them in their personal hard wallet.

First you must must be aware that Bitcoin investments has a minimal risk to lost your funds considering the volatile potentials so that you don't choose AltCoins at when making decisions on what crypto coin you should Invest on.
Hence you must understand the risks involved such as the deflations, risk of private key phrases exposures and finally, you must be aware that the income generation in the Bitcoin investment doesn't come at considering individual preference or skills just as our normal stocked businesses may require to attract incomes. Instead gaining income from the Bitcoin industry depends on the investors patient to accumulate and hodl you coins while the markets volatilities is fluctuated at a favourable value. This is simple underwood to engage on a long-term investment so as to stand better chances of catching up with profit potentials in the industry.
My advice is that newly investors shouldn't forget to invest with an amount of capital that can be affordable to loose.

It is definitely good for a newbie to know the basics of investing before investing in Bitcoin. First you need to know how to invest and then decide how much to invest. There are many people who invest and after some time are forced to sell that investment. Then knowing market volatility requires experience of market volatility for investing. Then you should always think that you can invest continuously. If an investor can invest like this then I think he can invest for a long time and get success in investing.  Also most important for a new investor is to secure a safe wallet to hold the investment. Only when a new investor can secure a secure wallet can he be safe with his investment.

Absolutely! Assessing your risk tolerance is essential when considering Bitcoin investments. Its high volatility means it's not suitable for everyone. If you're not comfortable with significant fluctuations or have limited funds to invest, exploring other investment avenues might be wise.

As a newbie, it's crucial to understand the basics of how to buy and store Bitcoin securely. Additionally, familiarize yourself with the concept of wallets and exchanges. It's also essential to keep track of market trends and news updates to make informed decisions. For purchasing Bitcoin, consider using reliable platforms like Cryptex for convenience and security.

In addition to understanding the basics of buying and storing Bitcoin securely, it's essential for beginners to grasp the underlying technology of blockchain and how it functions. This knowledge can help them better comprehend  value proposition of Bitcoin and its potential future trajectory. Moreover, staying updated on regulatory developments and industry trends is crucial for making informed investment decisions in the crypto space.