Bitcoin Forum

my first post on this forum I decided to make it here since Bitcoin is what I want to concentrate on going forward, I discovered this site through a google search in my quest to get answers to some questions about Bitcoin. And am amazed at how rich in information this forum is I have found almost 50% answers within my short period on this forum all thanks to the members who have been here before me.
I have a very simple question on Bitcoin:
What are the principal technical skills a bitcoin lover needs to have if I want to buy a large amount of Bitcoin and hold it for long-term purposes?

Technical skills ?
I am really not sure if that's needed for holding.
If you do know your basics you are good to go and you learn along the way, it's not a hard task to just hold but the hard task is to be *patient*. I would rather give more credit to the mental skills and the decision making.
-You have to give prime importance to *security*, cyber crimes are more pronounced in this industry for sure. Also looking for a good hardware wallet will be the first thing that you should do. Research, Invest in a good one and do not keep such huge amount of Bitcoins in any Online/offline wallet.
Best of luck with your journey.
~

First of all welcome to the forum. If you want to trade, probably patience is thee best skill that you want to have because you're going to experience times when bitcoin isn't doing good and it might cause you to panic and sell your bitcoins when you can just wait it out. Also, I've learned that if you wait long enough, the bitcoin that you currently have will yield you profits that you didn't expect yourself and that any down in the prices in the market are just temporary.

If you have not much of computer skills and want to buy/hold bigger amount of coins, I'd suggest you start with buying a hardware wallet, which will help you generate safely (new) seed for your address(es).
The only next step is to write that seed onto one or more pieces of paper and keep them safely offline (for the case the hardware wallet malfunctions). And that's basically all imho.
The coins you bought you'll have to withdraw to one of the addresses you own (since only then they're really your), but if you have difficulties you can always ask on this forum.

Let me start by welcoming you to this forum and am glad to hear that you have gotten answers to some of your questions on this forum, back to your primary question of technicality in bitcoin, I don’t think you are going to need any technical knowledge since your focus is to buy and hold bitcoin for long-term basis. Just like others have suggested, all you need is to buy a hardware wallet where you store your bitcoin with top security and you own your private key. Because, as the saying goes, your private keys are your only security and ownership of the account.

Not quite technical skills, but you should;
• Be privacy conscious and learn how to use a P2P platform for purchase or buy through OTC trades,
• Understand the basics of how a wallet works, setting it up, how to send and generate an address, lock an input etc,
• How to use an airgapped device, if you do not own a hardware wallet,
• Possible how to mix inputs to blur the trail of a transaction,
• How to browse safely to avoid falling for scam attempts.
• Also, how to safely store back up seed phrases for a long period of time.

Well, it's a good thing this was the site you've been bumped into as it was the oldest and you can get lot of information here. I don't think you need some technical skills if you want to hold some Bitcoin, at least have the fundamental knowledge on how to setup a wallet and how to improve the security out of it. If you are in it for the long term and you are planning for large amount then having a hardware wouldn't hurt your budget and it's more secured, it's just more or less a $100.

I'm not sure what you mean by technical skills, but at least some basic knowledge of computers. Then you need to understand how to transfer bitcoin or withdraw, or what is your bitcoin address, private keys and then storage, which is usually a hardware wallet in case you want to buy large amount. Usually a hardware wallet is a good way to store your bitcoin specially if you are planning to just hold on it for a long time.

You do need some technical skills, not a lot though.

All the responses above are relevant so I'll throw a few more pointers in

When buying a hardware wallet like Trezor or Ledger make sure to buy direct, dont try and
make a saving from a reseller who could have compromised the security.

https://trezor.io

https://www.ledger.com

Make sure when sending Bitcoin from wallet to wallet that you are using Bitcoin addresses,
if you send to a non Bitcoin wallet you wont receive the amount and you wont get refunded.

Make sure to save and store you wallet keys/passphrase/password safely and securely

What you need to do is to learn first the risk when you buy bitcoin in certain time since there are instance that we are prone for market crash, hacking or anything danger which can cause our bitcoin lose on our hands so invest on knowledge first before buying a huge sum of bitcoins. Also I know there are few people use exchanges as their placed to hold their bitcoins and you shouldn't do this since there are instance that exchange got hack so its so risky if you decide to use this as your holding destination so better invest on hardware wallets as suggested for better security.

You could learn and develop skills over holding bitcoin within a specific period of time, it can't be taken to a short timeline but we need to have patience you go through the learning process. Holding long term can be struggling specially when money is badly needed in times of emergency. Contingency plans should be a part of your long term goals so you'll able to cope up difficulties.

If you can not buy hardware wallets, you can use Electrum or Wasabi wallet
Recommended wallets (https://www.lopp.net/bitcoin-information/recommended-wallets.html)

Exchanges won't support to recover your coins if you send it to address of altcoin, not Bitcoin. If they give you support to recover it, they charge you expensive support fee.

Save them off line

Welcome to bitcointalk! Whichever technical question you have for the Bitcoin network in general, you may ask it in the Development & Technical discussion (https://bitcointalk.org/index.php?board=6.0) board or if it's specifically for Bitcoin Core in the Bitcoin Technical Support (https://bitcointalk.org/index.php?board=4.0) board.

They don't have to learn the technical background, but just how it works theoretically. Learnmeabitcoin.com gives a great brief of how it works in theory and I'd surely recommend it if you're a newbie for an even deeper source of how it works practically. (technical stuff etc)

If you hurry on buying Bitcoin, don't trust your technical skills and believe that you may make a mistake during the creation of your own wallet, you can just buy a hardware wallet instead. Otherwise, there are solutions (softwares) that will make you feel more comfortable with Bitcoin. I suggest you downloading Electrum (https://electrum.org/) which is a non-custodial wallet and trying understand by yourself how things work in Bitcoin!

If your going to become your own bank, and will be responsible for your money, without any third party stepping in to save you if you make a mistake. Your probably going to want to learn about securing your Bitcoin, but also having good security practices in general. Depending on your usage, you might want to learn general computer security if you intend on running a hot wallet or just learning about common Bitcoin security if you intend on running your wallet offline.

If you are running a hot wallet, then I suggest securing your system from the bottom right to the top. Think securing your browser, changing your browsing habits so that you aren't putting your system at increased risk. For example, don't download software which you don't trust the vendor that is distributing it. Physically isolate or virtually compartmentalise your system if possible. There's no real one place for learning this sort of stuff so you'll have to be prepared to search it up on your own. Ubuntu, or Linux tutorials are generally pretty good at teaching you how a computer functions, and the things that you can do to enhance the security of your computer.

For example, Linux teaches you about chmod; basically access, and writing permissions which many Windows users don't even think about. Then, you could potentially take some courses in Cisco, and CompTia if you really want to brush up on your skills. Though, most of these skills can be learned from free resources.

I think what you mean is that you're looking for some basic info about the best practices to holding bitcoin.  To start off I would suggest buying your bitcoin from whatever the most trustworthy exchange that charges the least, and that often tends to be the Kraken exchange.  Then proper storage is key.  Being new to bitcoin it would probably make the most sense to hold your bitcoin on a hardware wallet such as Coinkite or Trezor. Make sure you buy a hardware wallet directly from the manufacturer ONLY!

Emotional control is very important for you to master. It's useless the capital you spend is big but emotional problems can't be restrained, it's useless. So it's good to control your emotions when dealing with the market. Strategy in trading is also important so that you are not confused and swayed by the market. The strategy must also be applied consistently in order to minimize changing strategies that can make you sway.

Bitcoins are made for trading and holding years so you just need to know how to send, receive or store your Bitcoins securely.
If you want to trade Bitcoin learn about the history of Bitcoin's value chart and how to trade Bitcoin for profit. This is an advanced form of knowledge so you will need a lot of time to master them.

In my opinion, some important skills would be to know how to safely access your keys to your coins/assets from the Blockchain wallet on a secured device, and safely store the keys.    I actually prefer not to have single key for all of my coins/money just incase it's found by a thief or something and the whole coins is stolen using the single keys. You could split the money into multiple parts and have different keys for them which you can engraved on a multiple object like metals and buried/stored them somewhere you can easily remember and access when you need to.

You don't need much technical skills to use and hold bitcoins. You don't need to know how the technical stuffs of bitcoin or the blockchain network at all. But it is going to be better if you try to learn about it. I mean not learn, but read about it and know how it works internally. I am sure you will find it interesting and it will give you a purpose and a reason to invest more. After all unlike other people who just invest because they heard it gives you profit, you will know how good bitcoin is and why it is actually valuable, Right?
Like I said, you don't need in depth knowledge. You just need to know the basics and most importantly how to keep your coins safe. Good luck!

I don't know about you, what's your interest, if it's the inner workings of bitcoin then the technical skill that you want to have should be coding and networking skills. They can help you understand the movements of the network and you can understand how the code of bitcoin works. Probably some willingness to learn could help too because there's a lot to learn in this platform and bitcoin and cryptocurrency itself.

In my opinion the basic bitcoin skill first ,you learn more and more about bitcoin because if you don't know anything about bitcoin you will not understand any thing about bitcoin,and second you need to join bitcoin  signal groups because its basic way,and by bitcoin signal groups you can learn so many things about bitcoin, because its my experience,I personally taught so many skills by bitcoin signal telegram groups.and instead of there are so many skills which you can learn and increase your bitcoin portfolio.

Your journey just started and I wish to commend your efforts to locate this forum, I will say you should get an offline wallet and get your wallet keys save on paper and stored in a secured place as you wish to hold for long time. You don’t need any technical skill to hold and you need to care for is the security of your wallet.

Welcome to the forum!
If you want to invest in bitcoin one of the best tools is patience, it is what usually happens to us when we decide to Hold bitcoin. I am glad that you think of bitcoin as a long-term investment, if you want to invest a large amount of money in bitcoin you could follow Michael Saylor and learn about his strategy and investigate how he does it.
Every time the price of bitcoin goes down, Saylor buys a lot of bitcoin.
As I am a Binance user and I have a good experience on the site, I would recommend that you buy bitcoin there as well.

https://www.binance.com/en/blog/318034612921425920/How-to-Buy-Bitcoin-A-Quick-Guide-from-Binance (https://www.binance.com/en/blog/318034612921425920/How-to-Buy-Bitcoin-A-Quick-Guide-from-Binance)

Good luck, it's an incredible journey! BTC

In order to work on bitcoin you first need to know about the crypto market and gain skills by analyzing its various sites. With crypto market you have to do basic things with your own intellect it is better to consider the past aspects of technology to know where and how to work and the updated information of the market do not share personal information with anyone to keep bitcoin's wallet secure. With the possibility of doing anything decentralized blockchain offers a huge potential has acquired deep skills to work on latest technologies like blockchain iot artificial intelligence etc.

By basic knowledge, I assume you main you don't even know what is bitcoin. So, I would suggest you first do some own research about 'What is bitcoin' and learn the very basic stuff about the pros of this technology, and then you can start with understanding transactions and wallets to start and do your first trades on the bitcoin network. then you can chose to start learning advaned technical skills about the project in order to do that you can easily check the technical secsion of the forum and ask your questions there. But first you need to do research about the basic stuff and here google can be best friend.

If you want to buy a large amount of bitcoin and hold it for the long term, you do not need skills but you only need to manage your emotion because, in your journey, you will see the price will go up higher and lower many times and that can make you panic. Maybe you can set yourself to buy and forget it for a long time, depending on how long you will hold bitcoin. Let say you want to hold for 5 years from now. You do not have to check the market too often because bitcoin price volatility will make you unsecured holding your bitcoin and that can attract you become panic. Once you panic, your plan to hold bitcoin for the long-term will not work because you will think that you get lost at that time.

It's true that we don't need skills to invest in Bitcoin in the long term, we just need to believe in the future of Bitcoin. And also our emotions must
be controlled, so as not to panic when the Bitcoin price falls. Vice versa, if the Bitcoin pump we can still be patient to keep holding until it reaches
the target that we have previously set. Because Bitcoin is one of the safe investments for long-term, so we don't need to monitor the market too often.
We can see the market once a week, to know the development of Bitcoin. Unless we want to day trade using Bitcoin, it really requires skills and
abilities to analyze the market.

There is no technical skill for holding coins. all you need is faith and trust in bitcoin. no other way. You are the one who judges for yourself whether you are able and sure to hold coins for the long term. Becoming a long term holding only requires strong faith and determination in bitcoin and keep positive with what you believe in. and believing in bitcoin is not a bad thing.

As majority of here said, there are no technical skills or any kind of skills needed if you want to hold a large amount of bitcoin. And you as a investor, all you need to have is the courage to believe that bitcoin worth much more in the future. Investing doesn't require any technical skills in my opinion, either it is crypto or non crypto related stuffs, only proper research and patience is what a certain individual needs.

In terms of learning how to hold your bitcoin, there are no technical skills needed for you to be good at it. You just need to learn how to read the price change happening in the market and always make sure that you hit the right timing always so that when you sell, it is still profitable. It is usually a risk whenever you invest large amount of bitcoin but those who take risks will be the only one who can get the chance on gaining huge profits since it required large risks to gain large benefits. Make sure that your decision making with regards to your holding is not affected by your emotions.

First, may I appreciate your action for asking first before you invest in Bitcoin which you know it is volatile. As what our seniors recommendation, store your Bitcoin in the safe wallet, avoid emotional point of view, do not panic. All of these are important to deal your crypto investment life daily. Maturity is necessary mate. Good action. Keep it up

first you should make technical analysis mate because that's the most important to determine if its has a chance to keep climbing or not, nevertheless if you just invest your money without doing such way it will become skeptical and very risky decision. So bear it on your mind mate to assure everything will gonna be alright afterwards.. and of course don't forget to follow the rules when it comes investing wherein "buy low and sell high", so never ever put your money because someone is saying to buy now, must check the status of bitcoin very often and make technical analysis instead so that you know when is the right time to invest.

for day traders, technical skills may be a very important capital so as not to avoid losses.
but talking about bitcoin, which most of its holders are long-term or long-term adoptions, actually this is not very significant because if it is on a path like this the most important thing is not daily analysis but patience in holding on and not being one of the people who panic when it declines.
this is the most important thing when you are on the btc line, especially with investment intentions which of course will definitely take a little longer.
because even if the analysis is carried out repeatedly, it will not have an impact in the long term, it will even lead to us becoming impatient and wanting to quickly sell the assets we have.
so it's better to know properly when in btc assets and perform analytical techniques only for trading and for short-term scalping this will only be more competitive and can at least increase profits.

To hold BTC for the long-term you actually don't need any technical analysis. This is, as long as you're confident in the market based on your vast amount of reading (and not because your friend said so) then what you need to decide is which exchange you're going to buy from and where you're going to hold that bought BTC.

The choice for an exchange would mean that you understand different exchanges charge different fees, and what earning in for of APY rewards these exchanges give you for storing your crypto in their online wallet. You could also consider holding your BTC on a hardware wallet like ledger but just you won't be earning if you was to hold it on an exchange.

Technical skills you say?

If you do aim on buying out large amount of bitcoin then transfer it to cold storage like Trezor or Ledger.
You should at least know on how to make use of these HW which i can say that its a noob friendly thing and watch out lots of TUT's in youtube and that would solve out
your problem.

Basic knowledge on the sense of purchasing coins through exchangers or p2p, varies with your interest.

We have different techniques we can as well follow it's step, as a bitcoin lover you can develop a personal techniques by engaging in trading of bitcoin, and as well adventure into buying and selling of bitcoin or long term holding of cryptocurrency investment, lastly i think another method is to make research of blockchain and also read up of bitcoin for better understanding.

I guess he doesn't necessarily have to create any techniques or any technical skills to hold Bitcoin for long term. Unless he's starting to engage into daily and short trading.
The only hard things to do when you're holding Btc for long term is being patient and know when to sell and when to accumulate more.
And, I agree the OP should have deeper understanding how blockchain works, but I am more concerned about his asset security since he mentioned about investing a large amount of Bitcoin. So, I guess his asset security might be the first thing to learn.

I am not an expert but if I may give you a suggestion, first thing that you have to understand about bitcoin investment is the price movement. Just accept the reality that bitcoin is volatile. For now don't expect bitcoin price rise forever or fall forever. Look at the chart from the start until now. The chart show us the unique patern, the price is tend to rise but it's keep going up and down. So in my opinion you only need to know when is the correct time to buy and sell bitcoin. I think it is just a basic, for next step you should understand about traders behavior since most of bitcoin users are trader so you meed to know what traders expect. Then you can adjust your strategy.

First thing is welcome to the forum mate , you are  here to stay long and are you willing to risk ? because that would be your best move if does.

there is no technicalities but at least the attitude mate.

Never become Greedy , never to become cheater and also learn to know not to expect too much .

it would have been better if you start your first post in the member introduction section or in the beginners and help but thats fine since you already started .
anyway thanks for finding us informative and yes that is this forum all about ,
 we are happy of supplying useful information for those that are ineed but for your last question you will be needing a patience to make your long term plan more succesful . goodluck

Welcome to the forum mate at first :)

You have reached at the right destination to start your crypto journey as this forum has abundant of learning resources and you can have full fledged knowledge of topics you are not aware of from high rank and senior members on the forum.Even you can see newbies making guides and sharing useful information and that's why it is called discussion forum.Just exchange knowledge here on the forum.

Don't need to possess any core technical knowledge to participate in development board as there are many other sections on which you can write your posts and feel free to share your thoughts.

But also comply with the forum rules which are priority for every member on forum:

Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ (https://bitcointalk.org/index.php?topic=703657.0)

Ratimov's Forum Guides, Tutorials & Lists (https://bitcointalk.org/index.php?topic=5277049.0)
 
Merit & new rank requirements (https://bitcointalk.org/index.php?topic=2818350.0)

Best of luck for your journey on forum.

I wouldn't say that you need Technical skills rather than basic knowledge and some composure, the information is probably most essential and you finding this forum is a great way to start on that because you can take a lot from other people's opinions and experiences on how the market is behaving and what to do and what not to do as well, and you need to have composure because panicking when you see the price falls and making wrong decisions is not what you want.

Hmmmm Technical skills? I don't think that technical skills are needed if you only want to buy Bitcoin and will hold it. It will be a different thing if you will buy Bitcoin and then use it for trading.
If you will just buy and hold Bitcoin, there is only one thing that you need. MONEY, MONEY and MORE MONEY :D.

Just learn the basics of Bitcoin like how to store, how to send, how to transfer, etc. and you are good to go. As for me, I'm not a techy guy and I don't have any technical skills but I know at least the basics and the most important thing for me. Knowing which are scams and which are not :)

Just know how to use bitcoin wallet, have some common sense and have a really good security habit and lastly patience since you're just hodling your bitcoin. I think that's about what you need to learn for the basics, it's not like you're planning on trading those bitcoins anyway.

Data Privacy and Security are also vital; you have to know where and how to buy bitcoin securely, don't fall from phishing clone sites and other "too good to be true" offers you see. Keep confidential info safe cause it can be used to bypass your account or your identity to be used for other illicit activities. You could learn this the hard way, so it's better to know this as early as possible.

It should be always like that, because too much is not healthy and ends up as greed and loss.

Also sometimes it's not just about the popularity of the website where to buy BTC, because even it said that it's secured, hacking is common in this space and there are lots hacks incidents happened on "secured" exchange/wallets/stores. Proper using of personal identity/information on this address is still necessary. Like using a temp email, temp mobile numbers, not permanent address and etc. especially when buying online store with crypto and etc.

There's no principle involved, I started knowing nothing about Bitcoin but a new Bitcoin enthusiast need to understand or know is the risk involved in the crypto investment, how to identify phishing site (which is what crypto theft used to steal from newbies) and how to successfully use a crypto wallet without human error.

Simply implies about basic transaction procedure when it comes to transferring funds from one to another and i would say that it doesnt really require technical skills for you to learn but rather
even just using your own normal understanding then you could really get it right away. When it comes to risk awareness then you should really be considering this before you do jump
into this market. Some people do hesitate on dealing and have impression that it might be that hard or something but they are wrong on what they've been thinking.
It isnt really that hard as it looks.

If you're buying it in bulk for the long term, you shouldn't be in a hurry to look for something bitcoin-related because the step you're taking is already the most important and the best.
buying bitcoin in bulk when the price is low and holding it long term is the best option, leave it for a few years and you will enjoy the payoff and you can learn it whatever you need as long as you hold it and you have plenty of time to do that. ;D

Many basic skills can be performed on bitcoin or cryptocurrencies.
Basic knowledge of trading as well as technical analysis and fundamentals.
How to create and use a bitcoin wallet and how to secure it and much more.

and also know about common hacks.
Hacking is becoming the most detrimental thing in cryptocurrencies. A few years ago an exchange as big as Binance was hacked. it makes a big loss. but the good news is that binance replaces all the stolen assets.
Nothing is safe. you can only prevent it.

But now big exchange companies like Binance have built better and stronger security.

Trading Bitcoin using 7 soft skills
* Pattern recognition.
* Discernment.
* Skepticism.
* Adaptability.
* Self-evaluation.
* Compartmentalization.
* Discipline.

all of the answers above are very relevant and very clear, I have also studied everything you have said on this forum, hopefully with me using a hard wallet, private key and good storage, the bitcoins I have can be safely controlled,, now I just need to learn to hold my emotions, dependence, and have to be ready to face any media that makes negative news about bitcoin..

internetstellar missed out... HFSP my friend!

First of all to share the issues you raised in this topic , I would like to welcome you to our forum where we are all equal and working together to make progress. Regarding the basic skills you mentioned , from my many years of experience , I would like to share one thing about this with you:
 About basic skills:
1. The first thing is that you must know how to use the wallet , how to set it up , how to send and create an address , enter the key . Especially Make sure to save and store your wallet key/passphrase/password safely and securely . My advice is that you should write it down on paper and keep it.
2. Learn how to transfer and receive money to your account? . learn how to trade P2P , how to buy and sell on exchanges , how to deposit and withdraw.
3. In addition , you need to know which projects or cryptocurrency platforms are reputable , long-term, shareable on forums and search on gg.
4. Learn how to stay up to date with the latest sophisticated scams on the forums to protect yourself and your property.

Now there are no problems getting basic bitcoin skills, because there are so many guides and videos about it. It was more difficult at the start, but more interesting. It's easier now, but more intense.

you might wanna give up technical skills concerning privacy if you wanted to learn trading skills which is probably the most important when you wanted to profit in trading. i began to realized this when i have no choice but to submit documents to bittrex since 2017.

its hard to conceal yourself when buying coins. its best to just do yourself a favor and just make more money instead.

Actually, some basic skills that the users should have, They have to know about the wallet and the systems, Knowing the transaction, how to transfer and others. The basic knowledge is really needed to prevent some problems. Then they have to know how to hold token, buy and sell, etc
I think they need to know not only basic, but also intermediate skills too, like reading and analyze price chart, etc

Trials and errors are just needed for us to know the risk we are taking. But after that, we can confidently make some transactions or even trade in some known exchanges to get some profit but of course, it takes time to master the daily trading to accumulate the best profit you could get but for the meantime, you can try trading with the capital you can afford to lose, it will give you lots of experience just focus on the way you play. I'm pretty sure you will learn a lot from there.

Nope. You got that wrong. Bitcoin is basic. The only skill you need is to be familiar with these electronic devices (phone, laptop...). And I'm quite sure that you are already familiar with the internet which is why you even found your way to this forum. So, it doesn't require any special skill. Just basic wallet app operation. Be conscious of your mnemonic phrase/private key, don't give or show it to anyone. Good luck on finding more answers!

After much time in Bitcoin investment, I discover that the primary thing to know in Bitcoin holding is looking away from Bitcoin price for a while because if you constantly check the price it may prompt you to take some wrong decision such as panic selling.

A good question. I am questioning my self if I have learnt something technical to trade in past 5 years. NO. So, even a layman can trade. But yes, there are two things you can learn. We have trading bots. You can either learn to create a trading bot or learn to set up a trading bot for you. Second, kindly learn to know the trading indications and their meaning and how they would benefit you. Besides these, one main thing you need to have in trading is Patience. Its the main thing to success. Good luck

Here's to be specific:

1. Device usage
2. Basic Transaction between wallets
3. Be aware of malware( Clipboard paste)
4. Knows how to read up or check out current market price.
5. Basic understanding or just simply common sense.

You dont need to go to technical side because it isnt really requiring  that much for you to engage with Bitcoin.

For more information about this, I read this thread long time ago by LoyceV about how to lose your Bitcoin with just pressing Ctrl + C and Ctrl + V.
It's gonna really help for many people that are uninformed about it.
How to lose your Bitcoins with CTRL-C CTRL-V (https://bitcointalk.org/index.php?topic=5190776.0)

Good thing that my holdings in non-custodial wallet just don't get anywhere except my separate desktop wallet. I don't use it anywhere inside the internet, so no worries for me about that wallet as I don't really open it and it is in separate dedicated rig.

Basic Bitcoin skills

Leran more as you can about Bitcoin
Ask doubt to experienced people
Don't put all money start with small
Don't panic, be patience

some of what you mention already refers to the understanding of trading. About the basics of bitcoin that must be known is how to manage and get bitcoins so that bitcoins will remain safe.
The use of a personal wallet also needs to be studied, because a personal wallet that is made is very, very important and must be guarded so that it cannot be hacked.

Actually there is a lot to understand, but some basic understanding of bitcoin has already been mentioned by many members here.

Welcome to this forum where we can learn a lot about bitcoin or crypto in depth, and I think if your goal is just to buy bitcoin in bulk and for the long term you shouldn't be in a hurry to learn technical skills.
And over time you will learn what you need, and what you have to learn is what they are and how they work and buy bitcoins at the right time and store them in very secure wallets and you can use hardware wallets if you plan to do so Buy in bulk, to avoid unwanted items.
And all the suggestions here are good for you and will be your consideration before doing it and also understand the risks well.

Securing your assets is one of the most important thing when you do step your foot into this market specially on acquiring bitcoin or other coins in the market.Its the basics among the basics and you shouldnt
really neglect it out or else you would really be experiencing some problems.

It is something that people could easily understand and of course you would need to research something for that but having some common sense would really do.

Basic skills do comes from self understanding and of course with real experience and engagement in the market.

Self-understanding is more about how to learn something new like Bitcoin or cryptocurrency. If you can understand what the basics are, you can move on to the next step. Engaging in the market will provide a more tangible experience and build a stronger psychology. Cryptocurrency is a modern digital currency platform that uses the latest technology for the future.

basic bitcoin skills, I feel very lucky to have entered this forum, because in this forum I get a lot of new experiences, and I can learn better from everyone in this forum, I have followed the advice of people who is in this forum, I already have the hardware, because I want to save bitcoin for a long time, thanks to everyone in this forum, who has given me very good input..

Many people are not technical talents. For Bitcoin, our understanding comes from how to trade and how to store it. For me, the technology and development sector is my obstacle, because I can't understand it. To say that simple technical skills may be how to use decentralized exchanges. I regret not having studied science or computer.

For every asset or commodity always everyone thinks about its safety and security, it may rather be any layman or any tech person.

So before getting into bitcoin, spend more time on more research about its basic fundamentals. Such as what is bitcoin? how does it work? what is the security, and asset risks involved?

All things are mentioned very well in whitepapers, But it will require some technical knowledge and lots of self-understandings.


is showing your interest and curiosity about Bitcoin. By the way, you are at the very right place to understand what bitcoin is because the Bitcointalk forum is that place where "Bitcoin Talks".


My suggestion

Major focus on the security issue, but all it needs principle understandings, which gives more outcomes possibilities of breaching. The second thing to use bitcoins for increasing assets values by implementing in many platforms such as Defi, Yield farm, Liquidity pool, lending, borrowing, and trading etc.

Right now the second layer of blockchain for many other chains including cross-chain networks has created a tremendous wave in the market. So, understanding Bitcoin, Blockchain, and Cryptography in depth will definitely make you richer in the upcoming future for sure.

>>never follow signals ..

>>never listen to news ..

>>never trust anyone about your funds..


study deep.

learn more.

don't rush.

And never seek for too much, just earn small each time and let it go some times.

in short , Buy low Sell high.

The point is that we should not be monotonous in the crypto sphere, broadening our knowledge of crypto especially Bitcoin, is important to explore some paths that promise some high profits, over time by continuing to moving better... gradually will get more skills, in trading, investment, Bitcoin/crypto hunter and many else.

If what you want to do is just holding, then there isn’t much that is required ,all you have to do is to know your way around the wallets and that does it. Unless you want to be able to predict the prices in future then you can study technical analysis and fundamental analysis. This could be useful if you would like to be able to know the right time to make your investment and went to sell. You just have to understand how the market really works that way you will know when there is greed or fear and went to take actions. Knowing technical analysis will also help you if you decide to go into day trading later on.

Welcome to the forum. Depends what country you're in, but:
1. Do not store your bitcoin on exchanges or webwallets.
2. Do not daytrade.
3. Do not invest in cloudmining (Most are ponzis, fractionally reserve mine, or charge too high fees = you will never ROI).
4. Do not mine until you have done at least 100 hours of research.
5. Do not invest your bitcoins in any investment schemes.

And don't put more than 10-15 % of your fiat savings into crypto. Crypto is still a highly speculative and volatile asset.

Use dollar-averaging, i.e. you regularly (every day or weekly) buy a certain (small) amount of crypto averaging your costs.

if i may add, buying large amount of bitcoin would need how secure is your wallet is. with this situation, don't store your BTC in exchanges (not even in top exchanges), better store it in your own wallet, hardware wallet if possible. there are many tutorials already on how to do it. as the OP said, he had learned a lot from this forum already and adding more knowledge by roaming around here and checking in the beginners & other sections would greatly help in his journey. also, as a beginner, better start understanding the market using bitcoin first. and then other alts can always follow. because things will get complicated once he explores his opportunities in those countless number of alts. so yeah, i can't say you need skills to hold btc for long-term, you just need to know how you can secure your coins and not to be scammed by substandard exchanges.

In addition, don’t invest in any crypto venture you don’t know, especially those activities that are high-risk base. My best advice for the ops is to just buy and hold Bitcoin in a cold wallet and hold for long because as a newbie in crypto you need to take your time to research in other not to lose your money.

If you don't have enough knowledge then you have to keep various precautions,
1st one is you need "don't talk with any unknown person via social media" most of the extraneous could be an imposter.
If you want to hold a vast amount of bitcoin then 2nd one is you need to buy a hardware wallet, generate seeds and address by using HW wallet and print that on a piece of paper or metal, make some copy, and keep your copy in any fireproof & waterproof locker.

you can use any watch-only wallet and import the btc address as watch-only to make it easy to use. It could be the safest way to hold your coin securely.

First and very important it is only for bitcoin, that hold, because we say hold is gold so  and people who hold bitcoin or any crypto currency, they never lose in cryptocurrency world,and after that you can learn teachnical analysis, because its also very important,and also patience is very important,if you have good patience you will never lose in bitcoin world.

The title should be how to make bitcoin without buying it.

Anyways, I don't think you need Basic bitcoin skills there are people who started using bitcoin and they built their experience bar through that, There are various articles as to what Double-Spend, etc is, Articles about not product till your Bitcoin Payment has received at least 1 confirmations, There are 3 in some cases but 1 is Primary.

Also, You'll learn about bitcoin the first time you use the wallet and send to an address.

actually I'm not so sure about the main skills that must be possessed in investing in bitcoin, it's just that if you want to invest in bitcoin, you have to be patient. we also have to understand and accept that the bitcoin market is up and down and it makes some people feel confused by this. before investing in bitcoin we must be really ready to learn all about bitcoin, whether it's technique or risk to be able to avoid the losses. so the first thing needed is a willingness and determination to learn and learn more.

This is the most basic thing to get to know the market and understand how the coins in the market move. DYOR is very much needed when you plan to invest and hold bitcoin. There's no technical knowledge that you should learn but more on fundamental skills. Finding a reliable hardware wallet is very much needed so you can secure all your bitcoins that you want to hold. And always be prepared with the high volatility of bitcoin because the price will suddenly move downward and then it goes up gain. But there's no really big issue when it comes to holding bitcoin because even if there is a sudden dump, it will always recover any time. And the last thing is be patient all the time. Holding indeed is less risky compared to trading but for you to be able to succeed in holding, learn to be always patient so that you won't make a wrong decision that will make you lose everything in your wallet. 

I don't think there's a necessary skill you need to have a good start in BTC especially if you were planning to hold it for long-term purposes. You should always remember to invest in something you fully understand, be patient and always stick to your plan. Do not let your emotion take over your decision so that you wont have any regret with whatever decision you'll make

Bitcoin is a fundamental currency. The only need is that you are comfortable with technological gadgets  And I'm quite sure you're already familiar with the internet, which is how you came upon this forum. As a result, it does not need any particular abilities. Basic wallet app functionality is all there is to it. Keep your mnemonic phrase/private key to yourself and don't share or display it to anybody.

Maybe this input is not in the concept of technical science but just some of the basic principles that you should know. That you should be fully aware of investing in bitcoin is investing with high risk. You must understand the risk of profit and loss . then you must have the capital that my advice is not from debt capital or anything else. Because this will disturb your peace in investing later. Make sure before investing your basic needs have been met. And what is certain is to continue to practice and seek knowledge while positive, don't forget to be patient and don't panic it's important.

As you said, you are in need of some basic skills to hold a large amount of bitcoin long-term. There's really a lot we need to learn in this market. The most basic thing I want to tell you is to learn more about the benefits and risks that bitcoin can bring to you. You must master the psychology of entering the market, emotions determine 90% of the crypto market. And to be safe when holding bitcoins, you should find yourself a hardware wallet to store bitcoins.

You don't need too much technical skills to hold your Bitcoin actually. There are just some things that you must be aware of before making any kind of investment into Bitcoin. For example, you should never act with greed. This can lead you to be in a huge loss in time. I always recommend newbies to set price goals for themselves to sell some amount of their coins when the goal is reached. This will prevent you fully from being a greedy person. Because this is a highly volatile market and you should always be aware of that.

No a lot of skills, just a basic understanding of crypto, willingness to learn new things, and tons of patience is enough for qualifying to hodl bitcoin in long-term, I mean I am a hodler and I don't really have that big technical skill in crypto but I have been hodling for almost a year now so there's really no qualifications besides the attitude of that person.

Bitcoin business based on trading, stalking, mining, etc. These all need patience & calm. There are many ups and downs and hardworking like other businesses. Sometimes, it is hard to decide with a cool mind in a critical condition. so dare care and courage are also needed. This business has a good attraction for all and also has a good income. So all new persons are welcomed by seniors.

The internet happens to be the bedrock of all Bitcoin activities and as fast as I can understand once you have an internet and a mobile device one can actively carry out a Bitcoin transaction.

I think the technical skills that must be possessed are, your accuracy in reading the chart and trading volume of the bitcoin price itself,
and you need to store your assets safely so that people don't take them by force, try buying a hard bitcoin wallet like
https://trezor.io/

The OP was asking if there are basic skills he needs to have before buying some huge sum of Bitcoin so I honestly don't understand the correlation to the question you post here.
Anyways I don't also think there is any much special skill needed then than you have to have an understanding of the market and to basically make sure your Bitcoins are stored in different wallet addresses preferably a Hard wallet and most importantly, your Private key/passwords stored safely and online too.

I think we should learn how to secure your wallet against theft and hack. Since you are holding for a long time, be aware of the types of storage: Cold and Hot, Wallets: custodian and non custodian. Encryption, backup up skills.
Skills of sending and receiving bitcoins.
Knowing when to sell and rebuy, you cannot continue hodling even when it's so dangerous.

In fact, everything we do requires knowledge and skills. How is it possible for a person to accomplish (do) something without him knowing what he is really doing, right? But what distinguishes investment is technical and non-technical skills. Why do I say that, technically speaking, we can learn and hone our skills to be able to read charts. But we also cannot deny that in bitcoin there is also something from outside that affects the price, which I will call non-technical hereinafter.

Maybe some people view this differently. But if you only invest in bitcoin with patience, I don't think that's right either. Because there are other factors that must really be studied. The main thing before starting we must really know what bitcoin is, knowing the worst risks. Because when it comes to profits, everyone must also invest for that purpose.

A strange question for a person who found 50% of the answers on the forum! :) I think you should just ask the youtube platform correctly about the work of any exchange. Registering there is quick and easy. Next, apparently convert what you want to invest in bitcoin - to your wallet and do it by making one transaction on the exchange. Given the fact that bitcoin has fallen in price quite well, it's time to think about it. I bought a little more and am completely calm.

I have much interested in bitcoins trading and more curious to know about these coins i have searched more and more on google but when i found bitcoin talk index from google iam really lucky that i have found a best platform to learn about bitcoin skills and trading and more to acquire knowledge so i learned a lot this helps to know the information has not in google tooo so itz the best platform to learn bitcoin skills . i have decided to buy coins and with more information i will learn more about it.

Knowledge is powerful in anything you are doing in life. Having a good knowledge in bitcoin, you can be able to identify amount of money you can invest on bitcoin now that will bring you a good income in the future. Those that acquired bitcoin skills some years ago are really doing well with their skills they acquired from the community that made them professional in bitcoin investment. Those that learnt from their facilitators on how to obey all the rules and regulations that guided bitcoin investment and how to use it to improve in the community. 

Thank you all for the replies I got on this thread and all the advice, am very well informed now and I have gotten my wallet as the first starting point for my Bitcoin journey.

You really don't need a technical skill to buy and hold bitcoin but if we call the act of buying and  safe storing bitcoin a somewhat technical skill, it won't be out of place. First understand that the road to freedom is never smooth, bitcoin price is can be very volatile, be sure you have the heart to hold through the trouble hours. I recommend you learn how to use a software wallet and a hardware wallet and how to safely keep the seed phrase, and a basic use of cryptocurrency exchanges.

I think a lot of people are interested in bitcoin because its value is getting bigger. In fact I think traders are just learning how to multiply their bitcoins instead of understanding Bitcoin as a whole. The historical situation regarding bitcoin is sometimes unnecessary. They will only learn the market and what supports him to earn more Bitcoin and money. So basically they will only multiply the science of ways to multiply money or assets.

With some basic knowledge and skills the OP is good to go, basic knowledge on how to create a wallet and how to register with any reputable exchange which will enable the OP to buy bitcoin via debit card and how to transact bitcoin are very necessary skills.
Moreso the OP should inquire on the appropriate time to buy bitcoin especially at the time when the price is very low i.e during price correction while avoiding buying at the peak, also time to sell and should erase the mindset of earning massive profits after making a considerable amount of profits.

indeed that many of the successful investors from the past are those who had no deeper knowledge about bitcoin but instead they have just trust and believe the currency and keep their funds for long term.
and from that? the value gets higher over the years and yes they indeed made a millions in long term investing, though this is not that historical for now , yet we can still see the challenge and capacity of bitcoin to make multiple increase over years , at least 3-4 years cycle .

Nice. So which wallet have you decided to start with? If you are starting with any wallet I am going to recommend that you start with recommended wallets as to get to learn the basics of how it works. And when you have got into learn the basics of making use of a cryptocurrency wallet, you can then move over to making use of a non custodial wallet like Trust wallet.

For now, I would say you should start with any easy-to-use wallets some people have recommended, especially centralized ones. They are easy to use and one thing with using a centralized wallet is that you would have the customer support in case you encounter any issue on their platform.

Decentralized wallets are not really like that, when you are making use of a decentralized wallet you are completely on your own and every decision you make is just on you. Maybe when you now have full knowledge on cryptocurrency you can then start making use of more advanced wallets.

For addition of your opinion, if their should be a technical skills to be implies in Bitcoin investment many people would have informed you about that but the way I'm seeing it, the remedy is to read more and also research online for how to invest in Bitcoin

Having technical skills is not necessary for you to be able to invest in Bitcoin and hodl it.

All you need to know is how to make use of the wallet of your choice and how you can buy Bitcoin. You can decide to make use of a simple centralized wallet such as coinbase.com which most of the newbies I see always goes for it, and of course when I was a newbie I started with coinbase.com because it was very easy to make use of and also they have a feature that allows you to send and receive money using your email, although this works between Coinbase to Coinbase accounts.

So, you can use it to start up and make your first investment in Bitcoin. Then I would say that what you need is patience and also to be able to analyze the data you have on the chart to be able to tell whether you are to continue holding or not.

It's really dry but you're right. Most of us are here for the value of bitcoin, from something called bogus and worthless, now with one bitcoin we can do a lot. Everyone doing research, learning or whatever the purpose is to find a way to increase the bitcoins in their wallet and how to make big profits from the crypto market.
Very few people will find out what the real purpose of bitcoin is, what benefits bitcoin offers us except for the high profit it is bringing.

 This is true for every currency and every product in the world. It only has enough value as people claim it has. In a company that producses a product, they may drop it to a level and then it would be a loss so they would bankrupt before they could sell it for %90+ cheaper, that won't happen, they will either make a lot of profit or not enough. I always said Apple products are always too high in price and do not worth their price for example but people still pay it, because they are apple.

 Dollar has a value, why? Because people see it that valuable, yuan has a value, euro has a value, recently ruble lost its value for example. All depending on what people are willing to pay for it and nothing else. This is why bitcoin also has a value, thats the value we have right now, what we believe it should be, market decides it just like anything else.

Just let them if that's what they want, what important is they are still here supporting bitcoin because they continue to buy btc. What is only unacceptable are the bitcoin haters that only hate's bitcoin for no reason. They call bitcoin bogus, worthless or whatever foul term they can think of but in the end bitcoin is still the winner here because there's more people that are now supporting bitcoin. They know that what the btc haters are saying are not true.

It's only necessary to learn the technology of bitcoin and blockchain if you are going to be a developer on this field because being a dev is not easy but basic bitcoin skills is enough if you are only going to invest or trade.

And as a result they're deceived. At least the basic technical (how to distinguish bitcoin or fork) should also be mastered in this realm. Someone sometimes people offer cheaper fake bitcoins (forks) through centralized services where transactions aren't recorded, because of ignorance beginners won't realize and don't even understand what blockchain is which is one way to distinguish genuine or fake.