Bitcoin Forum

I have read some interesting stories of few members on this forum that did all they could to buy their first set of BTC years ago and also how they made it through the journey, but one thing that I found missing from those stories is a secured job..

Newbies or Beginners, who are aiming to start buying Bitcoin for future sakes, I want you to take this advice very seriously, do not start your Bitcoin investment living under a roof that still feeds you, it could work but it will make things to be more difficult for you.

When you don't have anything else to fall back on, after asking your brothers or sisters in the family to give you some money for investment, what will you do when you get the Bitcoin? You need to live, you will have desires to buy things, and you will panic if the market move downside even more..

All this will happen because you have no job secured, as a beginner, before investing in Bitcoin, make sure you have a job or source of income, it will make the journey of accumulation to be easier and less bothered about the market behavior.

Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money,  it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.

You don't need Bitcoin first, What you need is a JOB, work on that first.

Great advice. Financial stability should definitely come first. Invest in yourself, get a job that pays well, and then dollar cost average to get to your 1st Bitcoin. I wish I've gotten this advice back in the day.

I understand your point that bitcoin investment is solely for the financial buoyant people and it is true because of the volatility it possesses. But I wouldn’t say people without much Should stay away from it. They can simply use it as a trading method to buy things. Also even the less buoyant can as well save in bitcoin of at all the the money is meant to be saved for a very long time, this will help them curb the devaluation effect affecting fiat.

The only thing is when a Person who is struggling financially runs to save every little penny they have into bitcoin with the intention of making profit then that is where the problem lies

 You made a valid point and there's something I'd like to stress on. While Bitcoin has the potential to make you rich, it also has the power to cause an early death(esp if you are faint hearted ;D)..how do I mean? With it's penchant for volatility, it is better to start with something small, like the Op pointed out but that's when youve got a job on the side.
 But imagine one who's got a job on the side but does not fully make a research about bitcoin trading and just jumps in can still panic when the market goes down. Do another key factor to consider after all these you've mentioned is to carry out a proper research before investing.

It's hard to accept but it is the harsh reality. I have also met many people even I am included. Who tries to invest in BTC or Trade in BTC in the hope of making money out of it. The funny thing is we are using the money that's is all we have and starting with zero knowledge.

I mean, in this situation if the market will come down then obviously the trader/investor will panic trade. And will face loss too. So, to keep your mind relaxed and to avoid yourself from all the market sentiments, a source of income is necessary. It's not that compulsory but I would say it's the best practise to have a source of income before investing in BTC or any other currency.

Having a source of income is a good start to begin bitcoin investment. Bitcoin is a kind of money in which people can invest, and for this to happen their must be a source of income. Bitcoin is money , for one to have more money money their should be a source of income. Acquiring your first bitcoin does not mean one will start becoming financially buoyant.  It is when we have a job that generate money , then more bitcoin can be gotten from its investment.

Yeah, nicely said, although one should add that bounty hunting is not a job!


People who don't have the capital to start over again if they fail 10 trades in a row or are unfamiliar with trading at all should simply stay away from it! The whole investing and trading scheme is pretty simple, it's money moving around, when yours go away they are in somebody else's pocket, when you score it's the opposite. And most of this money flow comes from newbies and guys who think that just because they got lucky 5 times in a row with a shitcoin they can do so forever when it's just luck mistaken as knowledge!

Just like not everybody can fix a broken fridge not everybody can trade successfully!

Not just bitcoin, it applies to every investment when someone have the source of income to meet their daily needs, handle unexpected expenses, and have a safety net in case of any market volatility. The success you made from investing with the money as pocket money, gift or anything small as one time then it all just experimental so this can't serve enough to take the big risk of taking loan and use that money as capital for investment.

But with stable financial situation you can approach your investment journey with a more confident and also gives you the freedom to take the risks which are worth for it.

That's just basic, I never thought that should be told. I mean, there is nothing wrong, I just think that if someone wouldn't follow that simple advice he's not too smart.

No one knows, so far we are still trying and trying our best to be as ideal as possible to be part of the Bitcoin holders. It doesn't matter when we need to sell it or we are determined to hold it as long as we can.


Of course, if the finances you get are only from one source, whether it's a gift or an automatic loan to meet life's needs. The most important thing that needs attention, obviously this is not the right point for any type of investment.


If you just wait until you have a steady and stable job in terms of income, you will never realize the investment. There is no challenge, even when we have little income but dare to invest for a better future. I will not belittle people who have dreams of investing in bitcoin. Because sometimes they can actually appreciate ownership more.

If they want to have bitcoin, they must get it somehow. From working, faucets, giveaways, airdrops, whatever can help them. Working is the best because nowadays giveaways and airdrops are more related to altcoins, tokens. Bitcoin faucets only allow to claim small amount of satoshi and waste your time.

Working to get bitcoin as your salary or get your salary in fiat currency or stable coin and use it to buy bitcoin.

Investment means you must have capital to invest. The capital can be from inheritance, salary but most of us have it from our income, salary not from inheritance. Because we must work hard to get capital for investment, we must know how to store our bitcoin safely.

Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)

Anyone who’s irresponsible enough to borrow amounts of money that could negatively impact their life if they can’t pay debt anymore is gonna cause big time wreckage to their financial and personal life. It’s just a ticking bomb tbh.

Even a job won’t be enough. If you borrow money and lose your job, what do you do? Borrowing is risky business, it’s always been like that. Responsibility isn’t a joke, you need to calculate risks and possible outcome. Is it worth risking to live a shitty life just for a couple grand of non-guaranteed profit? If you take the risk and fail, live with it lol.. you agreed by investing in the first place.

Not only should we have a stable job before investing in bitcoin, but we should also have savings, an emergency fund for life, before thinking about investing in bitcoin. There is no guarantee that an investment will always yield a return, and there is no guarantee that our work will always go smoothly. There are many important things to prepare before we want to invest in bitcoin, an asset class with high volatility and an uncertain future. But many people only dream about profits and ignore these things.

Of course, this is already given. You need money to be able to buy Bitcoin and even in trading it. So if one has no source of funds for the same purpose, then the best thing to do is to make sure you either have a job, have a side hustle or a stable business. Getting funds from family members or friends is not always a good idea since this industry is very volatile - a roller-coater ride that others may not appreciate. However, one can start small and with the use of the internet there are now many ways to make some money.

As of my own way of interpretation of what a bitcoin investment means and how it should be covered without the investors being affected, you need to realized that if you must invest then it has to be with a fund you have earned, something that belongs to you and you think you could hodl it for a while for future benefits whereby it will not depreciate in value but instead appreciate more, then with this you can invest but while investing, there must still be something in which you could fall back on for your daily life maintenance without having the need to touch from what you have invested to earn your daily living, lastly it's not also advisible for one to make an investment when he's not fully equipped with the bitcoin knowledge required before making an investment.

Don't invest money you don't have.

Does it make a splash? Let me put it this way: Don't use money that come from some family's member pocket to do things you consider smart; like buying bitcoin. Use only yours. Okay, I think it's quite cleared out now. Just in case someone misses the obvious.

Oh, and don't try to convince them, because you won't pay any damage. Taking risks for other people's money is only something the government can do. Let's just leave it there.

because those who can actually invest well are those who are financially calm enough. having some income and setting aside a little gradually for long term investment planning in Bitcoin would be great. but consider that our finances must also be stronger. because if not then it could interfere with investment planning that is done. that's what makes beginners experience buying at high prices and then selling at a loss.

You can never be too careful and remember that not a lot of people have common sense so it's not like there's something wrong with what OP is saying, it's just a good thing that most people are reminded after some time. I wouldn't say that they're not smart just because they've skipped that step, I was a student when I discovered bitcoin and I was able to accumulate back then even without a job through faucets, so I don't necessarily agree that getting a job is always the right step.

I agree with you on this, we do not only Need a job first to invest in bitcoin but we also need savings, an emergency fund that we call always run to back up, this is to prevent one from depending on the the investment. Investing in Bitcoin their should be a good preparation, having a job alone is not enough and not a good idea for an investment.  One can have a job but yet their is still no savings, savings needs to comes first before one is thinking of making an investment plan. Investment is unpredictable that can't be relied on, but savings will always  be a back up for emergency.

A good way to invest in bitcoin while having no extra money to spare is to start getting some extra money that you couldn't before!
This would make more sense with examples.
One way is to get extra money is to cut back on a bad habit like smoking and invest the money you were wasting before in bitcoin.
Another good way is to sell some stuff you don't need, something second hand you no longer need and is occupying space. You can sell them on Craigslist or the equivalent in your country or just a good ol' yard sale. Then you invest that money in bitcoin.
And of course as OP said a job or even a second job (could be online as freelance or something similar) would give you extra money too.

Having a source of regular income (including, but not limited to a job, as it can be a grant, a scholarship, stable freelance work, etc.) is a good thing to have in life before putting any money at risk (and investment is a risk, even if it's Bitcoin we're talking about). However, if someone unexpectedly gets some money (either as a gift or by winning it), I think it's fine to buy Bitcoin with such money, even if a person doesn't have a source of income yet. IMO, it's actually the kind of money people can be ready to lose, as they weren't supposed to have it in the first place.

Well I started as a student studying Bitcoin and my extra money from my allowance were straight into investment, when I've studied and experience the potential of Bitcoin, that's the time that pushed me to have part time job for extra money for investment. Because to be honest, it's true that is not advisable to ask for money from your parents for investment, it's like they would have an expectation to you plus the guilt itself if your investment did not work or profited. If you lack financial that you really need to provide for your needs I think investment is not your priority first. Only if you have spare money for example in your part time job so it wouldn't be hassle for you to avoid overthinking.

On the one hand, if we are talking about those beginers who live with parents and can collect some amount from pocket money, then there is nothing wrong with buying bitcoin with this money, in the future it can bring good results.

But on the other hand, if we are talking about beginners who are starting an independent life, then first of all, of course, you should think about a stable source of income, and make sure to create a cash reserve that will always be available to you in case of unforeseen circumstances. After that, you can safely proceed to the accumulation of funds and the purchase of bitcoin. It seems to me that these are important points that everyone should learn who starts their journey as an investor.

As long as they can save money, it is always good to choose bitcoin as an investment asset over other assets such as gold or other valuable assets. It doesn't matter if they don't have a steady job where they can make money, but when they do have the interest to invest it will have an impact on their financial future. Children need to be taught about saving and investing, as well as those who are not yet financially independent.

Anyone can invest in bitcoin even if they don't have a steady job. As long as they can save money when they have it, then they can safely choose bitcoin as their long-term investment asset. But if you have a steady source of income, then it will help you develop a better strategy especially in terms of accumulation.

This was what I was telling a lot of people that they shouldn't loan if they are less likely to pay it off within a certain timeframe given. Even if you earn something from your investment anyway, it might end up just being something you will need to pay for the borrowed amount.

Usually people just loan when they're building a business since it has better chances of earning profit within your control. If we're going to invest into crypto, just make sure that all those investments we made are definitely just fine to be a loss, not like it is worthless but something that wouldn't make you homeless tomorrow. :D

Good point OP, you have said the fact on what is needed before you start your bitcoin journey. I read of a forum member that said he is trying to convince his parents to invest in bitcoin with their pension,so that he can keep the bitcoin in his custody. When I read that I was amazed and said to myself that one can't use someone else's investment as his and also take the risk involved. If you don't have a source of  income, this means that you will not be able to be a successful investor,because there are some unforseen challenges that will befall you which you wouldn't have any hope than to sell off your bitcoin.

We all know that cryptocurrency investment is a high-risk investment so it is not recommended to just invest all of your money into cryptocurrency most investors are going to recommend only investing the money that you could afford to lose, which is probably most of the newbies mistakes where they easily jump into an investment without thinking of the risk just because they know someone that get luck on cryptocurrency and able to earn a good amount of profit, they think that they might as well earn.

You are right if you really want to get rich what you actually need is multiple sources of income, and the most stable income where you could easily start is to get a job, if you have skills and experience you could easily land a high-paying job that could give you a stable source of income, most of the people will say to start a business but to do that what your gonna need is capital, and you could get that from the savings that you get from your salary. Remember to make sure to complete your savings, insurance, etc. If you already have multiple sources of income you could start investing in cryptocurrency because it's the riskiest investment that you could make.

It is true that for now, one must have a job that can make money first before starting to invest in Bitcoin. After getting a job with a salary that can meet the needs of daily life and save some money, someone can decide to start investing in Bitcoin. It would be even better to set aside some of his salary for emergencies and invest in Bitcoin regularly.

But if you don't have income every week or month, you don't need to force yourself to buy Bitcoin because it will be too heavy for you. You may borrow some money from relatives, parents, or even moneylenders. And that will cause problems for you because we don't know when the price of Bitcoin will increase.

What is important is that if you want to invest in Bitcoin, you must have money first and that is money that is not used for anything else. So you have nothing to risk and only the risk of a decrease in the value of the Bitcoin price where the value of the Bitcoin price can increase again one day.

It's not a one size fits all but the path of having something to fall back on is the most reliable. It doesn't always have to be a job. A business or an in-demand skill is good enough. The market isn't always going yobe taking upswing. Many periods will be slow and yield zero to no returns. That's the time those skills/businesses will come in handy.

My advice: Invest aggressively in yourself first and the best time to do so is when you don't have a lot of responsibilities.

This is jumping into conclusion. First thing first; not all people are the same. Some would struggle but there'll be those who can save money for the things that they wnat and if investment would be listed on that category even with the young mind, then that would be better. Yes the amount won't be huge for people having no job at all but their decision of saving money and alloting it into any form of investment is already a huge step towards better future even if it is not in this blockchain. Not all people would have that initiative which a mentality they grew up with. It takes courage to invest and if you have it, simply learn how to manage the risk.

Taking money from family members and friends all in the name of investing in Bitcoin is never a good idea. There is a saying in my local "Pesin way, dem carry 4 shoulder, no suppose dy carry another Pesin," meaning someone who is dependent on another person to survive is not supposed to be accommodating another.
 
Investment should be done from one's pocket and not from that of others, at least from the little you have been able to save, which you might not be in a hurry to use. Having a stable cash flow is what will help. Someone holds his investment for a very long time; your payment is what you will use to foot your day-to-day bills, as your investment in Bitcoin might be considered a locked savings account that can't be accessed anytime, so in a time of dip, the person won't consider selling off out of panic.

Investing on other people’s money will be the worst decision in anyone’s life. Be it Bitcoins or any other sort of investments, if it’s not your money then don’t invest with it. Everything will look great as long as you see the investment in profits, once the table turns and red enters, you will panick as you won’t have money to repay back the loan or amount that you have borrowed. So yes first priority is to get a job and a stable source of income. Then follow the 50:30:20 rule, 50% of the salary for monthly needs, 30% investment in Bitcoins or any other investments and 20% of the amount as savings.

often our success comes from unexpected things, the advice you said must be carried out by those who still depend on their lives from work but the majority of them also want to change their future through bitcoin, I know your advice is very good but I still recommend that beginners set aside their money to save in bitcoin (don't invest in bitcoin with all the money or debt).

nowadays successful people do a lot of work to make money and investing in bitcoin can be an alternative for everyone especially beginners, investing in bitcoin is really guaranteed and its value tends to increase every year.

You have given nice advice, but it should not be only when we get a job or stable sources of income that we can start our Bitcoin investment journey. Someone can buy Bitcoin when they have some amount that they believe they don't want to make uses in a short period of time, especially some students that do have some extra money with them and are still depending on their parents. They can invest that money instead of saving it in their local banks.

But honestly, in order to benefit from their Bitcoin investment and experience proper growth, everyone must first have dependable, steady sources of income. Rushing to invest with the little money someone may have in hand at that time and it does not have any other sources of income it never a good idea because it will undoubtedly be sold at any time, and due to the volatility of Bitcoin, the price may be down when it may have the use of the money and it may end up selling it at a loss, which is never the goal of investment.

Investing in Bitcoin become easy when you have a job, you don't have to be bothered about the the market movement when the price goes up and down as the market is very unstable. When you have a job, you'll be covered and won't be depending on Bitcoin for daily income.

This gives your investment the opportunity to grow very well and when you do sell in the future, you'll be very profitable unlike someone else that's depending on Bitcoin to live. Bitcoin shoudn't be your job instead it should be an investment that you're doing for the future.

Using of pocket money to buy Bitcoin isn't a bad idea but that amount won't be enough to get you enough Bitcoin to better profits from the increase of price leading to new all time highs. You should get a job and use the income from the job to invest in Bitcoin and other things.

I think the statements by the OP are very general. There are scenarios which could contradict
some of the points made in that OP.

What if someone is living at home getting aid from the state, or with a part time job or
no job but earning money playing music, making art or any other side hustle?

Having a job doesnt necessarily mean you will have disposable income, the chances are higher
but shouldnt be a foregone conclusion

Also, the fact that your job/income doesn't need to be from bitcoin/crypto. Yes, earning bitcoin is great, but also remember that you can simply just earn filthy fiat and use that filthy fiat to buy bitcoin.

While I hailed from a poor teenager living under my parent's roof underaged so I couldn't really take up a job especially in 2015, I would say with 100% diction that it's really imperative that you get a safety net when you make investment choices like bitcoin. The worst that could happen is, well you won't have a problem with the money cause you didn't put it up on a debt, the best is that the money is all yours with no one holding you back. I loved giving back to my parents, they were good and supportive about my craft and all that don't get me wrong but I believe some of us here live in situations that are a little less fortunate than mine, so for your peace of mind it's always best to just find a job, and use it to fund your investment portfolio instead of asking for shit.

     I agree with the advice and more when talking about a person who lives under the same roof, let's say that family and the only "source of income" is the money that their parents give them. Before investing in any asset, including Bitcoin or other cryptocurrencies, it is essential to have a solid financial foundation and a reliable source of income. Market volatility is significant and thinking about investing with borrowed money, without a stable financial footing, can be more risky and stressful. This not only implies monetary losses, but also loss of confidence in those who gave you the loan, and may even trigger conflicts.

On the other hand, if you have a secure source of income and you are determined to invest in BTC, you assume the risks responsibly. If you were to lose, it will be your money and you will not have to explain yourself to anyone. You can get up and move on to seek profit. Good post, friend.

I see your side of the argument, but there are gray areas, too. While it is true that having a stable income before buying Bitcoin makes the process easier, this is by no means required. Risk tolerance is a real concept. The excitement of going all-in on black in the cryptocurrency market is what drives certain people. Knowing your own risk tolerance is more important than gambling recklessly.

People that dared to go against the grain and take the plunge were behind some of crypto's biggest triumphs. This isnt meant to promote careless spending, but rather to bring attention to the fact that there are other ways to achieve success without following the herd. In other words, make sure your lifeboat is ready to go, but also be prepared to sail off into the unknown if thats your thing.

Simple and to the point, it is true there are many newbies out there which are thinking about investing in bitcoin when they do not have any reliable source of income, and without a doubt this is a mistake, as without any income then even the sightless difficulty will force you to sell your coins, and in that case holding them for any period of time is impossible, so only those that get some form of regular pay should invest in bitcoin.

I don’t see any reason why a person still living with his parents shouldn’t invest in bitcoin when he has the means. I even feel that way it would be more convenient because you have limited things to worry about. You wouldn’t be thinking of how to buy food or pay any bills because you have someone taking care of those things for you already so that way you can easily channel all your little income into investing.


It's a very good suggestion, but many beginners who have no source of income would like to own a bitcoin. They would invest using their pocket money, which they are supposed to live on, knowing full well they need the money and can't afford to lose it, getting themselves into unnecessary frustration. However, some people are actually from wealthy families, and even without work they have everything they need and they don't have to worry to buy things they desire.

Its always advisable to invest money you won’t need later and if lost it wouldn’t affect you in any way.

I know where you are coming from but you are mixing things together. Will that same money give you job? If you are thinking of being financially balance before you invest, you might never invest. Investment requires money while job requires skill and experience. The little money you have should be split among your needs and investment as well no matter how little it would be. It's better to invest with the little you have than to stay jobless and without investment.

The point is do not be 0/2, no job, no investment. If you can combine the two it's better. The pocket money you are being given is enough to enroll yourself in any skill acquisition center where you can be learning and still be saving for investment. Remember, investment is the future.

If you don't have a stable income (which I suppose is a salary), then you're either living off somebody else (i.e. your parents) or you're somehow earning a passive income (i.e. renting a house). If it's neither, then you're living off your savings, which in that case should only be used to sustain your well-being until you find yourself an income. (Unless you have a million dollars in savings, lol)

Well-spoken. Before purchasing Bitcoin, a person should at least have job. Investing in bitcoin while unemployed increases the chance that you'll sell some of it prematurely out of desperation. Many people are simply guilty of this; you can feel their sorrow when they accidentally sell their bitcoin for less than they paid for it because they are unemployed. If they do have a job, they won't need to sell them quickly for a loss.

To invest in bitcoin, one should at least have a stable job. Investing with extra cash is a fantastic idea, but a work is also necessary in case there is an emergency 

A steady job that gives pays you a tangible salary is no doubt needed if you are planning on starting an investment be it bitcoin or any other type of investment and I came to know and understand this fully from a friend who was so eager on knowing how he could start up an investment on bitcoin due to the numerous success stories told to him and believe me I tried all my possible best to explain this whole advice you are giving now to this fellow but it all seem to no avail as he had big plans of how he wanted to lots of cash if paraventure the price of BTC actually shoot up.

I had no choice but to guide him on how to get BTC so he can save and the funny part is that his wife was actually pregnant and I thought desperation was also one of the reasons he was thinking that bitcoin was some kind of get rich scheme where he can make lots of cash overnight. To cut the long story, he later sold the BTC bought after some weeks, he aked me to help him as he was desperate to use the money to cover up other finances. So lacking basic plan or even a job before going into an investment is like just a total waste of time and sometimes you might even  end up Loosing from your own end (capital money).

There are many ways to achieve crypto success, if making reckless spending and indeed going against the grain to make investments without any knowledge, it also needs only a little knowledge that Bitcoin is the best to buy.

If you take the risk of investing and buying Altcoin, it is a reckless act.
See how Altcoin has experienced a lot of decline especially new altcoins that are not clear developments.

Don't try to follow a lifeboat that you don't know, it will be dangerous and make you lose contact.
Follow those you already know then it will save you.

It’s absolutely a good idea to have other engagements and not rely on bitcoin to be all that is for your survival or means to a livelihood. Even in the crypto space, they talk about diversification and that didn’t mean just buying bitcoin, altcoins, NFTs and whatever is out there in the crypto space.

Still, that doesn’t mean you can’t own bitcoin if you can afford it and know well enough how to protect your asset should you eventually buy some.
Your extent of diversification should involve taking other investments outside crypto, working a job, owning businesses and offering services.
In the event that one fails or is doing badly, you’ve always got something to fall back to.

There are, of course, a number of ways to earn Bitcoin, but the easiest and fastest way is just to buy it. So, yeah, money is what we need first before Bitcoin.

I have read countless of times newbies inquiring about airdrops and faucets and other ways to earn free Sats and the usual advice is for them to go get a job. Taking advantage of these freebies is not only a very slow way to build a Bitcoin portfolio it is also risky and a total waste of time.

Having a regular salary or a stable source of income is where we should all begin. After all, the money that goes into Bitcoin you can't just spend anytime soon.

If newbies plan their future to buy bitcoins, they'd better aim for it. But before investing in bitcoins one must practice some cautionary advice. So that a new bitcoin investor can acquire the skills to research and research various aspects of bitcoin. In that case a new investor should learn to analyze various aspects including the volatility of the Bitcoin market before investing in Bitcoin in the first place. Some of the Bitcoin research that is very important learning for them in the future these things they must know. And the main purpose is not to make a profit by investing in Bitcoin, the main purpose is how to succeed in the future by investing. In that case, take advice on how the Bitcoin markets move up and down and proceed to invest. It is possible to be successful in investing in the future only by analyzing all these issues well and gaining knowledge and skills to start the journey for Bitcoin investment.

I think they can start whenever they want, they don't need to wait until get a job. even my younger brother start his bitcoin investment since he was a highscool student, he was go with anything he has, and now he is rich, of course he also get a job after graduate. in my opinion they need to manage the risk and learn more knowledge. if they do this investment in a smart way then I think there is no problem. but still get a job is important for life. as bitcoin is mostly being traded in exchange site that makes it's price volatile then I think it will be good if they learn about trading too, although maybe they will not become trader but at least they have enough knowledge to know when is the right time to buy bitcoin according to their personal condition.

Yes, this is very good advice.

You do not have to get a high paying job as an executive to afford a few Dollars worth of Bitcoin. One of the big mistakes that most newbies do in the beginning, is to think that they have to save up to buy 1 whole bitcoin. You can buy 5 Dollars worth of bitcoin every week and you can say that you are "buying" bitcoin.

I started with small amounts and I bought at a low price... my $300 worth of bitcoin... back in the day, provided me with huge profits.. when the price of a Bitcoin increased to $40 000.  ;)

Obviously those who have shared that same stories about making investment a big issue when they still have no work/job to get money as capital are mostly bounty hunters that have been lured by friends and family to spend their time here in forum for few bucks , I am not making it bad for them but you are correct as many of those people have no literal work and education and only find this forum as a bread and butter.
when they carry to have a internet and gadget ? then starts posting here and making money from all areas of crypto that they can manage to earn from small to big amount.
and yes they are also the weapon of those scam sites to spread their site from bounty hunters that sometimes almost willing to become a victim.
I strongly agreed in your presentation here mate though sad to admit but we will not earn anything from those as they also have no choice , maybe some of them cannot find a decent or even a not decent job?
some of them find this place as easy money making area?
that is the sad reality and we must bare with it as lets not be affected of what they say instead let us act for what we believe is true and what is the true value of investing .

Others also tend to take a loan without planning how to pay it back. Newbies are for sure only thinking about profit, like if they bought, let's say, $5 worth of bitcoin, they are thinking that it is too small and also that the profit is low. That is why they want to save up until they can buy 1 whole bitcoin, but turns out they tend to fail in savings. It is better to accumulate it over time because you can be sure that you bought it, just like if you allocated some money every month or your salary and bought it directly to bitcoin.

You have a point, but remember that most homes are not the same, the majority of homes are full of struggles, even if you have a roof over your head, that could be everything that's there, just a roof over your head, but Bitcoin investment is not about investing what you get now, it's about the nonstop accumulation of Bitcoin.

If all you have because you have roof over your head is 100$ and you drop all that into Bitcoin, what would 500$ do for you in 2025? You are still in the same place where you begin your journey, by the time 2025 gets here you would have grown some years more and you will want to have some things going on in your life, 500$ won't change anything.

Let's put aside the wealthy families, some of them children don't even have interest in Bitcoin, poor people and those who are living comfortable are more into Bitcoin that those rich youths from rich families.

I want a better life in future is different from I am already from self made rich family, what else do I need kind of thing.

Where I am from, majority of Bitcoin investors here are people who are struggling, not from rich families, so my advice is saying this is the way to make things more easier.

That's right, friends. The real thing and in accordance with the title of your post, Yes. the name also invests anytime and anywhere, let alone in BTC. Yes. self-fulfillment is the main thing. If you have excess funds, which do not interfere with someone's expenses, it is highly recommended. Of course. there is and a feeling of anxiety is born after we enter investing in this crypto world. seen if the market crashes and corrections occur at any time where the impact is to reduce the investment value. It's normal and don't overthink it.

Being new to crypto, I was intimidated until I found XGo Swap. It helped me understand the ropes and makes trading seem less daunting. As for currencies, I started with PEPE. It seemed to be quite popular right now.

Very useful advice, but I don't think many people will do this, even though many have the wrong mindset that investing and trading bitcoin can be the main job. They think bitcoin can save them from unemployment and give them income without having to work much.

Indeed, if someone is unemployed with a steady income, they are still struggling with every meal of the day and have no savings. It's best never to think about investing in bitcoin because it won't make them any better. Investing is only thought of when we already have savings, and even if that investment loses, it doesn't affect us because investing is risky.

Is not even about getting the Bitcoin, but rather about having the resources to buy, and I fully understand what the poster is trying to say that sometimes purchasing Bitcoin at that specific time should not be your target is not an investment you get into and start earning money, but the issue now is that if you want to enjoy investing in bitcoin it should be with funds you don't need, which is why I don't encourage people to take a loan to purchase bitcoin as it is a very risky step to take. and the problem is knowledge is always not considered and you can not enjoy being an investor without proper knowledge, left me to get a job and focus on the needful before investing that is just the best.

Some people think that Bitcoin itself can get them jobs when in reality it is not and the good thing to do is to have your source of income before engaging in crypto but you can also do some research while waiting for any job available because by doing that, you are not wasting your time rather you are just gathering information and you will gonna know what to do when you have all the knowledge necessary for investment. I know the feeling when you have the knowledge and you don't have any money, it really hurts you know? thankfully my brother trusted me and let me borrow some money from him which I quickly pay him the next month that year.

I don't understand why they think that Bitcoin can be the job itself. Unless you're some kind of public figure or trader, but it's some kind of job already.

You have brought up beautiful words of advice. Newbies jump right into investing in Bitcoin. Investing in Bitcoin is no longer profitable and requires patience. If you invest all your money in Bitcoin,you will face many problems to make a living later on. Bitcoin is a platform where everyone is willing to invest. I have also invested in Bitcoin. I first came to know about it and then invested in it. I have invested in Bitcoin from my separate income so I don't face any problem.

Its true that our forum give bounty hunters who rely on crypto a platform, which might cause anger. We mustnt overlook the big picture. This space promotes decentralization and financial inclusion for everybody. If bounty hunters can earn through cryptocurrency, it shows that the internet has democratized wealth-building tactics. We should analyze their tactics rather than dismissing them. Scamming is a huge problem, and we must all be careful, but labeling all bounty hunters is not the solution. Educate and make everyone safer

What if the person doesn't want to hodl Bitcoin?  What if he wants to use it as a means of payment,  or he just wants to keep it in Bitcoin for the short term so the money doesn't lose value due to the inflation affecting the value of his local currency?

I agree that everybody needs to get a source of income at least before having Bitcoin as an investment,  but I don't think this applies to people who do not want to hodl.


OP never said you have to be "financially buoyant".  He said you should have a job or a source of income.  This means you should have something can fall back on in troubling times.  Like times when the price of Bitcoin is dropping or times when you need money for something.  If you don't have a source of income or a job,  in times like this,  you'll panic and sell off your Bitcoin.

Newbie can not always be called a Newbie. Those who are new to the Bitcoin market are called Newbies, but not all Newbies do not have sufficient knowledge of Bitcoin investment. Without Newbie there is no Senior, those who have become senior investors start from Newbie. Sufficient capital as a complement in the Investment process, those with sufficient capital are calmer even though the price of Bitcoin is moving sideways.

It doesn't matter where the source of money is used for Bitcoin investment as long as you have mastered the knowledge of investing, knowledge will lead someone to be more calm, patient and relaxed when there is a downturn in the market. This is only limited to your assumptions in my opinion, anyone can invest in Bitcoin as long as they are equipped with knowledge and skills. A person's character is formed from small things and failures in the past, courage in taking action will pave the way to success.

Skills, education and experience to get into a job and have a stable income is the first priority but that sounds like a lot of grind for many of the youngsters in this forum and hence they dont want to start on it. While we also have some blokes here who preach the "I never got any degree but am rich AF" and that sways these youth in the wrong direction.

Bitcoin is a currency and needs an exchange to be bought from using fiat or some altcoin. You cant just create it out of thin air, forget about mining for now. Hence work on yourself first and then when the time is right every one will get the chance to invest.

All glory belongs to the Almighty, my crypto journey was hell but I have no other choice but to go the hard way, it's true that money makes investment more easier but I don't even have a rich parent, the money my father and mother made from their jobs are all going for rent and bills, I had no choice but to start with airdrops so if anyone on here is in same position as I was years ago, do not think that having money is everything.

Op has a valid point but crypto have few ways of supporting those that have no other way, I know job is the answer but I couldn't because here you can't easily find a available position to start working, job is very scarce and poverty rate is higher.

Crypto introduce testnets and few airdrop platforms are still working, it's a good place to start and if you don't give up you can get lucky, do not give up on yourselves if you can't find a job, some people are still making money through testnets.

I think the point of the OP is that newbies easily jump on the bandwagon and that is bitcoin and think that they will be instant millionaire. And the worst thing is that they don't have a job or might be not be earning enough money to be a investor. And with that they don't have sufficient capital to start and so they borrow money from others.

It will be a big learning curve for them, but hopefully they will learn from it and became a bitcoin holder. And won't borrow or take a loan from people or even bank. And with a stable job, they could be a successful investor as they have source of money then.

knowledge is the most important capital in investing in bitcoin, for beginners, don't rush to invest before understanding it, because that will shape our attitude in investing, and make provisions for facing problems. even though they already have cold money capital, they still don't have knowledge, I think I can hold off on investing, because many people have failed due to their ignorance in dealing with bitcoin. don't worry about missing the price, because there will always be opportunities at the right time. therefore don't get bored to learn

That's right, work is first of all stability. You cannot trust your life to chance in the crypto currency market, because inexperienced traders lose everything. And I understand that this trade is aimed specifically at inexperienced users. At the beginning of the cryptocurrency path, one should be careful and invest the extra amounts earned at work. And I advise for beginners who want a quick result to invest in unknown coins. Bitcoin is not agile and its growth is long. And for those newbies who already have a deposit, and want a slow but stable income, I advise them to invest in bitcoin. But to buy it only at the bottom.

If you are unemployed but really believe in Bitcoin then you should do everything in your power to find ways of earning it through your own merit. Putting most of your money in Bitcoin is not necessarily a negative thing because there is no currency that is 100% safe from risks. As long as you have a steady source of income it is your choice how much you want to keep allocated in Bitcoin but you will have to be willing to make some sacrifices whenever the market is heading downwards.

As much as you are right with the advice, we the readers always assume that anybody who comes on and wants to invest in bitcoin should already have a stable source of income, or atleast something to fall back on and not look at selling their just bought coins in times of minor financial crises..

Anyways, if there be truly any one who uses their pocket money to invest in bitcoin (aside a student of course), that indeed is not the best way, like op have said it, buying bitcoin for future profit when such individual have no reliable source of income will only lead to a life of financial frustrations as an investor, for such a person, i will advice that, if he or she can not find a job, atleast, start a business, for me, starting a business is even way better than getting a job and depending on salaries, atleast, if you have your own business running, you have more free time for yourself to do other things, like other side hustles, and another idea is cryptocurrency trading, that also is another good source of income is the person will sacrifice the time, effort need to gain good knowledge of it.

Exactly. Some investors are thinking investing in Bitcoin can give them profit in a short period. Relying solely with this investment and having high expectation to the point they already count and plan the profit that has never been achieve yet. What investors should do as newbie is fill their mind with knowledge to understand the nature of investing in Bitcoin. If you already know the risk and the possible thing to happen when you invest your money, you'll then grasp that it's not wise to only rely with Bitcoin.

Therefore, it would be better that you have other source of income or a stable job before engaging yourself. This way, you don't have to depend to anyone for your financial needs and can invest freely to Bitcoin using your own money. Moreover, you're capable enough to invest more and not relying solely to your investment.

That's right. Most beginners who invest in Bitcoin are those who don't have a steady job and want to get a jackpot from investing in Bitcoin. They usually invest money they shouldn't, such as savings or the proceeds from selling goods. Even though investing in Bitcoin requires careful consideration, because it is different from other investment instruments, it tends to be unstable and anytime the value of their investment will decrease. So at a minimum, if you want to focus on investing in Bitcoin, the first thing you must have is to have a steady job or stable income, so that it will back up your investment.

Bitcoin is just one of asset that used for investment, so if you're not work or have a lot money, how can the beginner can buy Bitcoin?

However even you already have enough money to buy Bitcoin, don't blindly invest in Bitcoin when you don't have good knowledge and good reason to buy it. I think if people still don't know the difference between non custodial wallet and custodial wallet, Bitcoin and bank, decentralized exchange and centralized exchange, they shouldn't invest in Bitcoin yet.

investing in bitcoin is of course very risky, and investing in btc would be better to use money that is ready to lose, because if our invest with money that is not ready to lose, of course it will affect the fundamentals, so what you say is true if we don't have a job, don't invest first because usually if you don't have a job, the money our use for investment usually always uses money that you are not ready to lose.
but in this case it's up to the person who will invest because everyone has a different strategy in investing.
but if we are ready with the risk, of course there is no problem.

The majority of investors who hold Bitcoin already have a source of income from routine daily activities, rather than having their money kept at home, saving at a bank or buying commodity assets, they prefer buying Bitcoin which is believed to be safer and can provide returns in the future. For those who still depend on their family or are still unemployed, it is not the best decision to buy Bitcoin using their pocket money.

There is no prohibition for anyone buying Bitcoin, it is necessary to pay attention to a regular source of income to finance his life before buying Bitcoin. Bitcoin price fluctuations need to be considered by newbies who want to invest in Bitcoin using pocket money, prices can change at various times, from minutes, hours, daily, weekly to yearly.
I agree Newbie needs to find a job to finance his needs, the rest is stored in Bitcoin.

The first rule when you invest, no matter what you're investing in, is to risk only what you can afford to lose. If you're still young and you actually get what bitcoin is, what it represents, and how it could change the world, personally I would take that risk even if I'm 15 years old and the only money I have comes from birthday and Christmas gifts because I may be missing an incredible opportunity to change my future.

I agree with what you're saying but if you're still a kid then you won't be working for several years and at the same time you still have your family helping you so probably your little savings won't make a big difference in the next years. Just my idea of course.

your advice is very good op because there are indeed many people who are still beginners in bitcoin who feel disadvantaged as a result of investing in bitcoin because the price of bitcoin is falling and finally a beginner sells his bitcoin out of panic.

and in my opinion investing in bitcoin should not be made a main job, because in my opinion investing in btc is very suitable as a side business.

First, you would need money to buy it or at least find a way to make money to buy it. Usually, it's about making money with the reason you get into Bitcoin. I think those are the most common reasons why we get into Bitcoin. That's the reason why I discovered it in the first place. It's different for everyone, though. I do hope real beginners get to see this as well because they are the ones who will get motivated with this.

No investment advice is universally valid. It depends first of all on the temperament of each: some spend everything, others save or do DCA. In the same country some will have money problems with a salary of 5000 euros when others will do wonders with 1000 euros. The best financial advisers had advised Madoff investments and we know the rest. Conversely, Erik Finman had invested his pocket money in bitcoin and became a millionaire at the age of 19.

We must do what is most for ourselves, listen to conflicting advice and do what seems best to us. We can be wrong, that's life. But you, OP, don't have the science either and your advice is only valid for yourself.

https://www.investopedia.com/news/who-erik-finman-bitcoin-millionaire-teenager/

I fully agree with you, people should be very aware of what they are doing before investing in bitcoin, does not rush as it is an issue that requires strategy and good foundations... what is the use of getting into debt to obtain bitcoins if you are in constant anguish due to market volatility and the need to have to cancel that money as soon as possible, also knowing (if you are well educated on the subject) that the  investments in bitcoin take tim, so you do not get what you expect in a short period of time and it is not only that, but the people who carry out this type of action can even end up on the street because they do not have a way to cancel their debt, they lose everything completely... so it seems to me that it is a maneuver that is not worth executing, it is better to go the safe path so that in this way the results are very different from the previous scenario.

That's too serious man but I'm happy if I can have all those things. Maybe investing is not going to be necessary anymore but I will just save the money that I get from my job and other income streams. There's no need to spend huge money only to enroll myself to school because I already have a scholarship plan.

But, I think any free lance job is not stable. They usually have a couple of months' contract only. We are lucky if we can reach a year or two on some of them but we can always seek for another once our contract expires. Investing has a risk but it can be minimized. It can be by using a small amount of money, preferably the residual ones and then by picking a trusted asset. When it comes to crypto it was Bitcoin.

Academics say, "Knowledge is power." This mindset gives us control over our Bitcoin investments. You're right - a plan needs solid foundations. Debt to invest in risky assets is like sailing without a compass.

I feel terrible for debtors who are stressed by Bitcoin's volatility. However, Bitcoin's value could rise over time. Over the past decade, big financial companies have increasingly used it. I understand. Short-term aims can end in disastrous acts.

Bitcoin's technology is amazing. Its a decentralized cryptocurrency. "Digital gold" is valuable for the same reasons as real gold. Know what this means and modify with patience and smarts to invest in Bitcoin securely.

I don't think that it will be difficult for a person if he is under the support of his parents.  This is like saving made from the extras of his allowance.  And I believe this is the best time to invest since all his needs are covered by his parents.  Then after graduating and in a situation where he is to attend for himself then, he can stop investing while holding the Bitcoin he has and look for a job.

Obviously, it is different if you are living alone and don't have a stable job.


I agree but as I stated if we are still under the care of our parents we can use our extra money to slowly build up our Bitcoin portfolio.  There is no harm in investing our extra money from our allowance in Bitcoin when we are still in the care of our parents.

Think as simple as possible - you only need to learn how the market works to invest and some technical know-how to make your bitcoins safe when stored. You don't need to be a fully technical savvy user to invest - it really isn't necessary as just learning the basics you can already invest in it.

The price of bitcoin is very volatile - it is also at risk because it has become a target for hackers. Bitcoins are safe - but users will never be safe if they don't know the best method to secure their wallets. Most cases of losing bitcoins are caused by user error, so they should learn about it instead of investing immediately with any budget.

This is well said and something that I echo every day due to working in finance, more specifically being a financial advisor who quite simply advises people on their finances every day, all day long.

When I get asked about Bitcoin, which happens often, I always start with .."Let's talk about your job, your income, what investments you have that may or may not have you on track for retirement etc, then we will talk about bitcoin (and likely other shitcoins they bought because some Joe Blow told them it was "going to the moon").

well, you are not taking advantage of the people there. they should really know what they are getting into before they are blinded by such promise of high profits. most people are going into this market thinking that it is easy to get hundred fold of profits.
just like any other investments, you need to equip yourself with the right knowledge and know the risks involve. because at the end of the day, you are like betting your hard-earned money to these investments.

They only can invest if they have money and if they have money which is like their savings and their life can not be in problem if they lose their savings which can be their investment capital in Bitcoin.

If they feel like they will need their savings, their investment capital in Bitcoin anytime because their income is not good enough and they don't have other reserves for emergency, they should not invest in Bitcoin.

If they invest, as said they must reserve part of their savings for emergency and don't use all savings for investment. If they don't have such reserve, they will have to sell their bitcoin in emergency and it's bad if they sell it at loss.

You are absolutely right. Because the job is more important. After we have got a job, income will be easier. But if you don't have a job and then invest, when you lose, you will definitely be a little desperate because you don't have a source of income.

Thanks for your advice and opinion, mine was based on past experience, and yes what happened with Erik Finman is true, I have never said that it's wrong to invest your pocket money, my point still stands and that is making things way easier for yourself, and job can make them a dream come true.

Reading many comments on here shows that I am not just talking for myself, many people have passed through a lot when they are first introduced to Bitcoin, if job was part of them back then the journey would have been easier.

Finman held his Bitcoin he purchased with his pocket money for years, that's why he became a successful young man, Bitcoin was also very cheaper then, without a source of income today, and as a bitcoin beginner it will be extremely hard, since bitcoin is not even 100$ per coin again, it's 30,000$ today, what can pocket money do today? Unless your every pocket money goes into Bitcoin every month.

Also the panic of market sentimental will attack you, why? It's pocket money, it's never a money intended to lose, panic will follow.

The end goal is an easier investment plan, it's harder without a job, never said it's impossible.

It is correct that no investment advice is universal and again I do not also take what Op wrote as an investment advice. However, I really understood the points Op made.
The Op was just imagining how someone could successfully be investing in bitcoin when they don't have a steady job or a source of income. For one to be able to invest only what they can afford to lose means they should be earning.

It is also possible that one can be investing their pocket money through DCA or some other means. They might also be lucky and run into massive profits. But then, the truth in Op is universal. You need to earn to be a legal to invest.

Its very difficult how to change some trader mindset actually investing in shit coins and in their minds going to the moon later and price up drastically, you should stop them never fanatical actually with shit coin, late investing possibility loss their capital due shit coins only hype on the first time launching. As you job financial advisor, teach and educate them how effective investment in bitcoin than shit coin.
Don't blame when some one show off profit from shit coins because there many people loss their investment after investing in shit coins and not has chance with shit coin returning back to higher price. Although difficult need to teach some one have been fanatical with shit coin because not consistent profitable actually shit coins without list on CEX exchange market.

I get what you mean dude, and I also agree with what you mentioned, because it's really hard to invest in Bitcoin if you don't have a stable source of income. And if you have a source of income, whether it's a job or a small business, you must also establish the prifit
 
Now, if you only have extra even if it's just a small amount you can use it to buy Bitcoin, this is where DCA comes in, which is often said by most people on this forum platform.

Why only shitcoins and exclude bitcoin? If you don't have a job with a steady income, investing in shitcoins or bitcoins will be your burden and not bring you any benefit. The risks of shitcoin are huge, but bitcoin is not without risk, so if you don't have a job you shouldn't invest anywhere.

Once you have a steady income, the investment will depend on your preferences. The fact that you think investing in shitcoin is a waste is also not entirely true, don't forget 14 years ago, there were also many people who despised and did not invest in it. But you also know the result, those who previously despised it are regretting it. Investing in shitcoins is not bad, but they are too risky and not for everyone. But there's no denying that altcoins' returns are bigger than bitcoin's these days.

Before we invest in Bitcoin, we have to get a job. I believe that even if we don't have a job right now but have money to invest in Bitcoin, we can do so. The negative is that if you don't have a job, there's a chance you would be able to use the money you invested, especially if there's an emergency. That is why most people advise getting a job before investing. Aside from that, if you know you're going to invest in shitcoins from the start, you must cancel it. You are aware that shitcoins were caused by hype and that following a dramatic rise, they will crash. Therefore, make sure you invest in top alts with a higher potential ROI to avoid this kind of stuff.

That's a good point and a piece of useful advice if one takes it. Most people these days, usually newbies, think that it is very easy to earn money through Bitcoin or cryptocurrencies, and that is what makes them collect some money from here and there and rush into making their first investment, some won't even do proper research to understand the risks and rewards associated with the investment, they just heard or seen people doing it and they got influenced.

Having a job and an income will always be a support backing your investments because that wouldn't make you sell your coins at any point in case you need money for an emergency or anything, if you have a job, you know that you can cover everything else with that and you won't touch your holdings.

I would advise against recommending Bitcoin investments to individuals who lack financial stability. It's crucial for potential investors to have a level of financial security, even if they are not wealthy, to avoid constantly monitoring daily price fluctuations and potentially forgetting about their investments.

Relying on loans or borrowing money to invest in Bitcoin is not a prudent approach. The cryptocurrency market is known for its volatility, and prices may experience significant declines that could take a long time to recover. In such scenarios, investors must be prepared to endure without immediate access to their invested funds and avoid panicking. Therefore, it's essential for anyone considering investing in Bitcoin to ensure they are financially stable and capable of weathering potential downturns.

One cannot force the desire to invest when only relying on the pocket money given, this habit occurs to children who are still in school or are attending postgraduate studies. Prioritizing investment is not the right option if we are faced with this condition because there are other needs that are far more important for someone to prioritize. But if the pocket money given by parents is large and can be saved, it will be much better to invest because this will encourage our interest to achieve financial freedom in a certain time slowly.

The trick can use DCA as a strategic investment approach and they can run patterns like this on a regular basis. However they themselves know whether taking an investment approach with a certain pattern can help them to meet their needs or even prioritize other needs that are far more important than investing.

Many people have forgotten the rule of not investing more than you can lose and many have also concluded that losing is impossible. No matter how friendly the market might be, once in a while it gives us some surprises. So, it is ideal that one should have a stable source of income before investing in bitcoin.

No matter how we twist the matter, you must have, then invest before you earn. If you rely on the funds for day to day expenses for investment, you will end up being devastated and you keep withdrawing your investment even when it's not matured.

That's fantastic! Learning to save in assets other than FIAT at a young age undoubtedly yields positive impacts when embarking on an independent journey. However, one should refrain from being too proud of their saved assets and using them solely for job-seeking purposes. In the world of investment, strive to ensure that your assets remain undisturbed by employment concerns. I believe parents will typically assist their children in securing their first jobs and introduce them to the realm of work.

I'd personally prefer it if the accumulated asset savings were employed for substantial goals, such as purchasing a house or acquiring a car, among other things. Make sure you have significant objectives for your investments and approach them with a strong sense of purpose to enhance the likelihood of achieving them.

Investing in pursuits related to job-seeking, like participating in boot camps or other similar ventures, can also be worthwhile.

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

In other words one must a solid road map before he jumps into any investment. In crypto only if you have proper knowledge prior to investment only then you can win here. There are moments when Bitcoin goes bearish and your investment may struck for indefinite period. If you have plan of what to do in such bearish market only then you can survive otherwise you will end up withdrawing your money on loss. Only invest what you have extra, don't invest money you need for daily living.

Yes true as job is very important and one should think bitcoin as part time job and select when he has another source of getting cash. Completely dependent on bitcoin will not be advantageous as it is risky so you will loss your invested money too instead of profitable results.

Job is necessary as if market goes downs then management of your abilities will not be effect because of constant salary. Other thing is that you can save some percentage of income for investment and will not be a include in those individuals who are taking loan for such purpose.

There are several things that must be considered before we invest in something, including Bitcoin.

1. Invest when you really can and are willing to invest, not to force it, let alone make it difficult for yourself because of investment, especially this is risky.

2. Money management is a very important thing in life, so money can be controlled for daily needs, [education, monthly, and other needs that are issued continuously, as well as reserve money. If it is possible for other money to be invested, yes, you can set it aside, but not to force it.

3. Invest in Bitcoin using free money, which means that the money is devoted to investing, according to the amount you can afford to loose, this money is not used for other purposes.

yes, you are right the OP is just reminding and giving advice so that everyone who wants to be involved in investing in Bitcoin should have a steady income or stable income first, so they don't need to worry and they don't even have difficulty buying Bitcoin and meeting their daily needs.
because maybe there are still some beginners who still think that investing in Bitcoin will get fast returns and multiple profits in an instant, so there are still many beginners who lack knowledge who put in all their money just to invest in Bitcoin. as well as the OP's suggestion that we can also avoid investing by borrowing from other people because we already have stable income from our work.

Bitcoin is just a highly volatile asset, it should only be used as an investment and in investment, there will be losses and gains. It cannot guarantee us a steady return, so even if investing in bitcoin gives us a higher return than other jobs, it should only be considered a side job and not a main job. But many people have a misconception that bitcoin is a job, and they think that investing in bitcoin is very easy to make a profit. And with that profit, they will easily have a leisurely life without working as hard as other jobs. These misconceptions come from newbies and lazy people who don't want to work hard but always want a good salary.

It's true, having a job with a regular monthly income is much more important that buying a few hundred USD worth of bitcoin. Having a small crypto portfolio is not going to much us rich, even if we trade well and make 50-100% return in a year is not going to let us live independently. The first step should always be finding a job that pays us decently and let's us save money every month. Once we have free disposable income that is not borrowed or needed for medium term purchases, we can start buy crypto currencies regularly. Like that we will be able to build a crypto portfolio much faster. To live off a investment portfolio alone we first need the foundation to start investing. Without any savings it's hard to make large returns.

Is it necessary to be wealthy beforehand in order to purchase cryptocurrency and secure a prosperous future?

However, bear in mind that the disparity between the initial release price of Bitcoin and its current value is incredibly vast. Even if someone had set aside a mere $2 to acquire BTC thirteen years ago, undoubtedly, their assets would have grown exponentially.

Acquiring a small amount is not an issue, as long as one does not pin all their hopes on that modest investment. Working diligently remains the optimal solution to ensure your needs are met, allowing you to lead a longer and more fulfilling life.

This is the mistake young crypto enthusiast always do well sometimes it actually because of how they even got to know about Bitcoin in the first place because some of these so called early must have heard about Bitcoin in the wrong way because most people heard about it through testimony of big time investor without properly going to do their research so they felt if they  invest in Bitcoin they can also make such profits because they see it a get rich scheme.

We need money for daily needs and emergencies, so even if you have savings but are unemployed, you should not invest in bitcoin. Money is used for a lot of important things, not just to invest in bitcoin, and Bitcoin is not a 100% guarantee of you a bright future without risk. To me, it would be foolish greed for an unemployed person to invest in bitcoin and hope it will give them a rich life without working.

Investing in top altcoins does not guarantee you the same safety as bitcoin, all altcoins are the same risk. As long as you know what you're doing with your money and are willing to take the risk, you can invest it anywhere you think has the potential to be profitable. I am one of those who have made a significant return on investment in PEPE, and I think you are no stranger to that memecoin.

There is this local adage in my country that says,  somebody that they are fed does not keep a dog.

This simply means that when you are being taken care of you can't add an additional burden since you cannot find your responsibility,  same way with investments,  investments are for those who are financially stable and not for dependents.

I wonder how someone who does not have steady streams of income will invest in a volatile asset like Bitcoin that requires long-term holding,  because how then do you expect the ops in question to feel when Bitcoin prices drop significantly?

I think they don't have to be rich to start investing in cryptocurrency. Because there are still many strategies for them to invest by buying bitcoin or cryptocurrency in stages with the same period and the same amount. Even though their monthly income is small, they can save money from their remaining income to buy Bitcoin, but of course, they have met their daily needs. That's why it's very important to manage your finances to stay healthy even with a small income.

Because in my opinion, no matter how small our monthly income is, we still have to prioritize investment for the long term. By doing the DCA strategy of buying cryptocurrency every period, the habits we will follow. Because bad habits will gradually erode because we always prioritize investment. examples of habits that must be changed are wasteful, showing off, buying things that are not necessary, etc.

Investing with debt is wrong in my opinion. Crypto is a market with risks. Therefore, when you both borrow and invest, you run the risk of being in trouble. For those with short-term goals, I suggest they research what the market has been up to before. Bitcoin hasn't upset anyone in the long run, but I can't say anything for the short term.

Knowledge is power when used correctly. Many people know that bitcoin will rise after a certain time. But investing with this knowledge is not right. Until the time when Bitcoin will rise, it will fall many times and experience different scenarios.

We should proceed in a planned manner and invest in bitcoin regularly if we can. As it is said in the subject, we must first find a job and make our investment with a part of the income we get.

You’re right with this mate. People don’t need to invest if they will only use their last money left, I mean an amount that is intended to pay the bills or buy the necessities instead. Not just for bitcoin, but in all types of investments, it is a must that you need to invest using your extra money. Otherwise, if you secure your investment first more than a stable job or a a secured source of income, yes you will profit at first but eventually, you will also use those profits to pay the bills or buy goods and services that you need, which means you cannot save after all from your investment profits.

This is the mistake many investors are making making them to finally make loses after they've sold there Bitcoin because they ni longer wait for the market to go up for them to sell and make there money. Those who understand how the market is will try to invest with fund that they don't need or there savings. When people force themselves to invest in Bitcoin, they may end up using funds that are not supposed to be used for investment especially when the fund is meant to pay bills and for transportation. Those who understand how to invest will not make silly mistake at the end.

Indeed. Secure a job first, then next is your investment. That way, even if you experience consistent losses at your first attempt, that won’t matter that much to you because you only invest using spare money. And never forget that any investment won’t guarantee secured and stable profits, so you can’t consider it as a stable source of income like a stable job will do. So earn from your job first and when you’ve gained enough money to invest, then invest at your own risk.

Well said dude. Securing a stable job first should be our topmost priority knowing we need to spend on our basic needs and necessities so we can survive and live life as it is. Investment should only come next to our job, since it’s best to invest from our hard-earned money than to simply borrow our capital and then see ourselves struggling paying for that principal with high interest. At least, if we invest using our own funds then we won’t be bothered at all if ever we end up losing our capital as there are always inevitable losses especially if we invest without prior experiences.

The way I understand @OP concept is that one must have a stable job before investing in bitcoin, which I fully agree.  If there is no one supporting a person and he is only by himself, any investment on  Bitcoin will be a waste if he don't have a steady source of income because in time when he has nothing left, he will be forced to sell his holding prematurely which may cause losses.


Regardless, invest only when one is able to support himself without touching his investment.  This way, the person has all the time to wait for his investment to produce profit.

It's obvious that's what most Bitcoiners in the crypto space do. I agree that one must have a sustainable source of income (a real job or business) before they can dream of having a healthy Bitcoin investment; otherwise, it would just be like some kind of story heard along the roadside. Although it's very possible that one can invest with the money they received from friends and relatives or from their parents, if it ceases to come from their benefactor, that means they will have to sell off what they have invested, and it could be that they will even sell at a loss. I agree with you, OP.

I agree with what you said, it is true that work in the real world is very necessary and can be called one of the conditions for investing in BTC so that it is safe and calm when investing in BTC, because if our already have a real job our will usually invest in BTC using idle money which of course will make our mind calm.

You have a very good suggestion that one should have another source of income before investing in Bitcoin. Never rely solely on the crypto currency market for your spending. Bitcoin is a good crypto currency for investment and a great long-term option for anyone with capital, but having another business or job with Bitcoin investment is very important. Crypto currency Market is a Volatile Market There are constant fluctuations in the market due to which relying only on Crypto currency Market can lead to losses. Therefore, if the savings from other sources of income are invested in Bitcoin and are made with a long-term investment in mind, then there can be a good return in the future. The money you need should never be invested in the crypto currency market. Always invest your saved capital or excess capital in the crypto currency market.

Any loss of money will be significant, it is not easy to generate capital for investments and it is even more difficult to realize that an investment has brought losses, not profits. Therefore, we must be concerned that the initial investment is as reliable as possible. After all, if the initial attempts to invest become unprofitable, then this can ultimately demotivate beginners to continue doing it.

Therefore, any unsuccessful investment will be significant, and when a beginner has some capital to invest, it is important to buy bitcoin, and not try to buy altcoins, in order to protect yourself from unnecessary risks.

Whether it is worth buying now, or perhaps waiting for a correction to follow, this question is difficult to answer, everyone must make their own decision, but bitcoin still looks promising for long-term investments.

For me, I would say it’s definitely necessary to have a stable job first before you decide to invest, so that if ever things do not work as planned, your finances will never break out. I know a lot have experienced investing without a stable source of income maybe because of greed and the goal of making instantly rich, but I must say a lot of them fail too and end up losing their capital especially when investing in a very volatile market like bitcoin. That’s the reason why getting a job first is much important than having an investment, because your job will secure fixed and stable income while your investment does not guarantee fixed returns or profits.

Only those success stories that we heard off, but again, there are tons of people who lost and were not able to succeed. It is really better to have security first, like your job or other source of income that can make you survive even if your investment fails. You should plan it out like plan a and plan b so that if ever the plan goes wrong, you can still fall back, rather than only having one plan, like only investing, and not knowing what you will do if your investment isn't successful.

You're right and from the advices I have seen on the forum, it looks like if you're not investing you're doing something wrong meanwhile people don't realized that not everyone has equal financial power. We have people that if they invest what they have they won't have anything left.

It's not a must to invest in Bitcoin and it isn't a must to invest now. If you're not ready to invest then don't do it because if you allow yourself to get pressured into investing, while others are okay when the market is dumping, you won't be at peace because you can afford to lose.

Bitcoin investment is risky when you don't have the patience to hold for as long as it takes for you to become profitable, you'll lose your capital when you sell and that can lead you into having doubts about future investment to trap you at the position you're financial forever.

You dont have to buy Bitcoin or other digital assets. Its not a sign of financial maturity or adulthood. Dont get me started on those self-proclaimed experts preaching their "not invested yet?" Shame!" mantra on every forum. Its like they live in a parallel universe where everyone has enough of money.

To each their own. Financial power, risk appetite, and life ambitions are as distinctive as fingerprints. Therefore, forcing everyone into a single investment strategy is illogical and destructive.

People are drawn to Bitcoin because they believe in its decentralisation and transparency. Why not dip your toes in if you sense the call and your pocketbook is ready? Until then, let the market dump or pump.

I would never say that a person should go all in on crypto. A stable income source is like a lifejacket keeping you afloat during time of crisis and bear markets. Use the income from the job as a stable source of money to pay for the expenses and savings while keeping enough to allow you to invest and take riskier positions on crypto.

The stable job is always the first option and for that a person needs education and skills. Hence the path is laid of simply as education, skills followed by a job and then investments in parallel.

Otherwise when the market falls, you will be devastated about how to feed yourself.

I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

Bitcoin shouldnt replace a regular income, especially for new users. Before adding storeys, you must construct a sturdy foundation. Bitcoin investments are the extra storeys on top of a consistent income.

I find it intriguing that skills or services may earn Bitcoin. Its intriguing to turn time, our most precious resource, into Bitcoin. New Bitcoin users can join the movement without risking their money.

Bitcoin is a currency and an investment, yet we often overlook that. We encourage Bitcoin's use and value as a global, independent currency by exchanging it for products and services

While you can earn bitcoin with your large amount of money, but the problem is how can you sustain owning it with its unpredictable and changeable price that anytime it will reach its lowest price and you’ll end up seeing yourself in panic wishing you did not invest in the first place because you will only lose in the end.

However, if you have a job and do investing as your side hustle, then regardless if you suffer from losses which I think part of investing, you will never totally experience the stress and all its difficulties because you still have your job to count on, even if your investment is not working in progress.

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

I wonder how could this become an unrest of mind.  Remember the money is already yours and you have all the right to spend it elsewhere.  Aside from that, if this is an allowance, then it is a sure thing that you will be getting more in the future.  I still believe as long as there is someone supporting us financially (being a student or under family care) it is always best to spend money to investments especially Bitcoin since we know sooner or later Bitcoin will increase in price which can give us profit in the future.  As long as we are only investing the surplus of the allowance given to us, I do not think there will be such unrest as stated by @OP.

We should take advantage of living under the support of our parents since we don't have to worry about anything.  It is the best time to buy and hold.

First of all only a fool will rely on their Bitcoin investment as a remedy to their financial problems because Bitcoin isn't something that yeilds profits on a daily basis  so why would choose to rely on it instead of getting a job that pays you and moreover you use the money  worked for to actually purchase Bitcoin so how would you be acquiring more Bitcoin if you don't actually work. Bitcoin investment is meant for future reference and like the name implies "investment", it not something you hope to use at the moment except it calls for it and if anyone wants to actually acquire a good investment strategy then getting a job will be one because that will make you secure your investment so you won't have to temper with it always.

You are right to think about something in excess will be bad or will be greed.
Yes, have a work or have a steady income is the main thing. Investing is a form of effort to get additional income for a long period of time.
I don't know how someone who doesn't work can invest in Bitcoin. that's actually nonsense.
Of course if there is someone who thinks that Bitcoin is the solution to all financial problems and will get profit from investment quickly that is a fatal mistake and it shows that someone does not fully understand Bitcoin.

According to what you said, I still see a lot of idiots in the market because I see many people saying that bitcoin can help reduce unemployment if the government accepts bitcoin in their country. They even see bitcoin as a solution to poverty alleviation. If I remember correctly, not long ago there was also a thread on our forum discussing bitcoin investment recommendations for unemployed people. That sounds crazy, how can bitcoin generate daily income for unemployed people?

There are not only many people who misunderstand bitcoin, but also many people who are crazy about bitcoin and worship it blindly. For me, bitcoin is money and to earn money, we need to work and use the money to make money, other than that, I don't see any way to earn more.

It is possible that the person who doesn't work can still invest in Bitcoin using their parents money, but you are right to find an income first before jumping into investing because it is not always guaranteed you'll earn profit. Again, for sure, there are others who think of it mostly in Bitcoin, but later they will realize it. What is really best about Bitcoin mentally is that those who are not strong enough to be invested in it will be leaving as they can't control their emotions due to volatility, which is why those who stay will only earn profit.

I didn't imply that it should, I kind of cut short my last statement. I was thinking about the younger population who want to get into Bitcoin as they don't even have a main income and are not looking for a 9-5 job yet. It's better to use the time to earn Bitcoin if it is possible and if you want to get into Bitcoin, than just doing a whole lot of nothing with your time.

Of course, older users/adults should make finding a job a priority before investing and after that a lot of learning about the whole thing.

Although I agree with the views you are trying to narrate, but it never hurts for anyone to buy bitcoins with the pocket money they have. Bitcoin can be purchased according to the capacity of money that is owned and is not forced, what needs to be emphasized is the knowledge about bitcoin that some beginners must understand beforehand if they want to be involved in investing. If you can do both at the same time, it will be much better and if you don't have a job but someone has a large pocket money, there is nothing wrong with getting involved in investing.

The most important thing is being able to be responsible for the investment that is being undertaken and not neglecting other needs first. For example if they are still students or students, the money must be used first to support their education and the rest can be used for investment in the simplest way possible.

Well, there are also some instances that we get to invest in bitcoin because we received huge amount of money from our inherited assets, and not from our hard-earned money from our job. I think that is a good mindset too, trying to diversify your investments and not just letting your cash sleeps in the bank. However, in case your investments do not worked as planned, and all your savings have started to run out, then you should land a stable job that will sustain your needs before all your investments and hard-earned savings will be gone. But if you can get a stable source of income in the first place, I guess that will help you grow your investments without the need to sell your bitcoin whenever its price suddenly crashed.

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

Right, whether it's inheritance or savings from income, newbies shouldn't rush to invest in bitcoin without any knowledge of it.  they don't need to spend a lot of time learning everything and waiting for a solid amount of knowledge to start investing, because if they do, they will most likely miss the opportunity to buy cheap.  but at least, they must have the most basic knowledge to start investing.  Diversification is inevitable but it will not be enough, they also need other sources of income from other investments, or a job to ensure safety.

This is good advice. If the person doesn't have a job before investing in bitcoin he will be tempted to touch the invested bitcoin to refeed himself because he no extra job that provides him food on the table. But if he has a manual labour jobs doing daily then that can also help him to secure the bitcoin for a very long time. There are different ways one can do to invest and secure the bitcoin that has been invested and not only job. Trading, fishing and farming are all there to use to invest in bitcoin.

I agree with this. If you're just starting out with cryptocurrency, it's essential to understand that you do not necessarily need to jump straight into Bitcoin and other cryptocurrencies. It is normal to fear missing out (FOMO) whenever you see someone who keeps earning from Bitcoin and other cryptocurrencies but remember they were also once a newbie. They were able to be what they are now because of constant learning and experience.

So don't feel like you need to jump straight into trading. Without proper knowledge, your loss will probably be guaranteed. For now, focus and start from the basics to learn, take your time to gain enough knowledge, do your research, and by the time you think you are ready, explore the cryptocurrency with a small investment, still with the caution of its risks.

Beginners can also read the link below that might serve as a guide, and it contains information you need to know about the basics of trading.
https://academy.binance.com/en/articles/a-complete-guide-to-cryptocurrency-trading-for-beginners

This applies not only to bitcoin, any investment should be thoroughly studied before investing money in it. Investing in cryptocurrencies seems easier compared to buying real estate or other investments that require large investments, but this does not mean that this simplicity will give the best result. In addition, when a beginner starts to understand, he will understand that it is not as easy as it seemed at first.

If, in addition to bitcoin, a beginner wants to buy altcoins, it will be even more difficult, because you will have to choose which ones to buy. And even if he buys only bitcoin, there will still be many questions, even without taking into account how it works. So the conclusion here is clear, you should not buy until you know exactly what you need and you know what to do with this bitcoin.

And I think there is hardly anything better than bitcoin for a beginner. Because you need to start with something. It is obvious that work is needed, as the author writes, because without a good portfolio with a deposit of several thousand dollars, it is difficult to receive passive income from cryptocurrencies. Nevertheless, in fact, all beginners start the same way. They buy bitcoin and hold it, looking at the price every hour. I'm sure everyone will understand me, because we were the same. I don't write about altclines because there is a lot of scam right now. And before, when I was young, everyone knew which altcoins would be profitable. Decred, EOS, Lisk - every serious coin with a big name over time made you richer.

Very few people who work, are successful. I will put business before job. Business is a medium through which you can get established very easily.  There is a certain amount of salary in the job, which is limited to maintain your family and personal life. From that point of view, if you do business, you are more likely to get extra money even after meeting the needs of your family and personal life. You can invest in Bitcoin from the beginning with extra money.

When it comes to investing then it would really be requiring that kind of knowledge and skills or awareness on what you are tending to get involved with because on the time that you would be skipping out on learning with the basics then you would really be finding yourself on some huge issues on which it would really be resulting into losing those money or investment that you had made out. Beginners would really be normally be lacking out those knowledge for them to make further steps which would really be that either wise or not. It is really just that there are people who are really that having that rush decisions when it comes to investment because
of lack of knowledge and experience then this is where mistakes and errors do usually came from.

Doesnt matter whether you are dealing with Bitcoin or other type of investment which it turns out to be default thing on what are the things that you should gonna supposed to do on the time that you would be making up decisions in correlation with investment. It would be necessarily needing up that kind of approach and mindset for you to sustain out because if you wont then for sure it would be giving out that negative effect
and other issues on which you could be able to experience on.

True before starting to invest in crypto, people should first understand how it works and learn the basics about it. IMO Without this minimum knowledge serious troubles can arise and I mean here particularly concerning security aspects. With just a basic understanding of Bitcoin and related matters one could easily lose their funds due to hacking or other stupid mistakes. Therefore, it's essential to think wisely and conduct thorough research before taking any steps with Bitcoin or any other crypto you use. Remember Bitcoin is money, and losing it due to carelessness is not a joke, so you better be careful with every step you do. :)

This matter of yours cannot be ignored in any way. Of course, a Bitcoin holder must have some other means of making a living. Otherwise, he will not be able to hold on to his bitcoins as a target. However, there are a large number of investors who use all their money to buy Bitcoin and are forced to sell it at a low price when they need their money even there is a bearish market. If awareness can be raised about this issue before investing, many investors will be able to hold their bitcoins even during bearish times, thus they can profit from bitcoins.

Excellently said.
I love every thing you've said so far and the truth is always bitter and as such, I also stand with you to tell newbies to try getting a job before thinking  of buying or investing in cryptocurrency and bitcoin  as whole because. the principle  of cryptocurrencies is that we shouldn't invest with money we're not willing to loss and this principle is so because of the high volatility  nature of bitcoin.

I've also seen Several threads of newbies claiming to have bought the their first bitcoin  just for the purpose of making topics and getting recognized.

I wish you Goodluck

I learned this the hard way. Secure a job first, then venture into Bitcoin investment. It's a lesson I wish I knew earlier.

Let me rephrase that. - What you need is a good paying JOB.

Not all jobs pay well. It's also a dangerous strategy if you invest into bitcoin after landing your 1st job because we all know its price is very volatile. If emergency happens and the price you've bought bitcoin is lower than the time you need it then your investment is already negative. I suggest that before investing into bitcoin whatever class in the society you are invest only the amount that you won't think of everyday and treat it like to be your generational wealth.

Yes, it's not just beginners who like to look at the price of bitcoin every few minutes.

That's right, beginners are definitely the most likely to succeed with bitcoin. I do not argue that there are experienced investors who are able to make a portfolio of altcoins, which in the long term is able to overtake a portfolio of bitcoin. But firstly, there really aren’t many such people, and secondly, how much can a portfolio of altcoins outperform a portfolio of bitcoins, how significant can this difference be?

So yes, for a beginner, Bitcoin will definitely be the best start in his investment. And then it will be necessary to work on increasing investments, since buying several thousand dollars worth of bitcoin will really not bring tangible results.

It is a bad habit and not only newbies have that addictive habit. Unfortunately, it is not easy to get rid of any bad habit after you fell into it and get addiction. Looking at price charts are very interesting with newbies and amateur traders as they feel like they will die or will lose in trading if they don't look at the chart every minute.

They don't know a secret fact in trading, a more times you look at price chart, the more psychological impacts on your trading and the more you will easily make emotional positions for your trades.

Bitcoin is a best for newbies to start but we must emphasize that start with investment, buy and hold. If they start with trading, buy and trade their bitcoin, it's not good and  they will lose their bitcoins.

I'm talking about this and say that this habit is not only for beginners. I can understand that this may be necessary in the case when a trader wants to follow the chart so as not to miss a profitable trade, although reminders can be used for this, but for long-term investors this is not necessary, just buy bitcoin and forget about your investment until the news won't start screaming that bitcoin hit 100k.

Yes, there is such a factor, long-term monitoring of charts is very tiring, which is why I like being an investor.  ;D

I even feel a little sorry for modern newcomers coming to the crypt, as they do not see the crazy bull market of growing altcoins that we saw in about 2019. I mean ICO, when literally wherever you invest money, you will succeed everywhere, the only question was how much the investment will grow. Back then, benches were not a frequent occurrence. And on the other hand, now there are other possibilities in everything, even if the time of multiaccounts has passed rapidly, nevertheless it was also a way of earning money.
Therefore, as I stated earlier, the best thing for beginners is to keep bitcoin on the wallet and wait. And it's even better to have some money in fiat so that you can buy the number one cryptocurrency if the bitcoin exchange rate drops.

If a beginner entering this industry has a regular job it is possible to say that he has the ability to start buying bitcoin. Because he has a resource that he can do the DCA too to save bitcoin.

But if a newbie buys that she doesn't have a regular job or any sideline job that is stable, I don't think it's a good option to do, but if there is a small business that can make the earnings, it is still possible. Because if jobless is a bit difficult to make DCA for bitcoin.

It is quite true that people who are doing their business or job in a good place can be more successful in crypto currency market. Investing in Bitcoin requires a good amount of money, even if buying a small amount of Bitcoin will require a decent amount. Really for those who do not have a business or a job, this platform will prove to be difficult. Those who have no other source of income should never rely solely on Bitcoin earnings. Your point is very good that DCA is a great strategy for Bitcoin but DCA is a difficult task for unemployed people.

Every investment is hard for majority of the people who doesn't have a stable income. I'm sure unemployed people will have a hard time doing DCA given that they have a timeframe to buy and having a problem with money will just ruin your DCA strategy. Buying bitcoin is a good investment in my personal oppinion but having no income to sustain your living is a very bad move to begin with. Forcing yourself to buy bitcoin that will have no sense in times of need. Imagine buying something as an investment that you don't use and sell it at a lower price because you aren't ready for potential problems like being short on living expenses or an emergency. I believe that investing on cryptocurrency should be at most second to maintaining your survival in life.

Great talk. The take home here is to first invest in yourself before even thinking of investing in Bitcoin. Besides if you don't have a job before buying BTC, you might not really be able to hold, except you are getting additional source of income.

Of course, any job related to the market requires you to have a large amount of knowledge and if you invest, you must also have a certain amount of assets. In fact, everyone has the right to decide how to use and invest their money as they see fit.

For those who do not have a lot of money, it is better to save and invest part of their money in bitcoin. After learning a lot about this market, you will have an accurate view and decision about your investment.

It was indeed a great experience during those crypto bubbles in 2019, The cryptocurrency industry (Altcoins) was still in its growing stage as compared to the awareness it has today, and it's now clear that Bitcoin is the king of cryptos and reason to stick with investing in Bitcoin. During those days, people could just throw money anyhow in altcoins and come out with it, But now they look at the projects with use cases and with promising future.

Before investing in bitcoin, all of the guiding principles should be taken into account. As you mentioned, the first is financial stability. The second is knowledge, which will prevent you from being taken advantage of during the introduction process. The third is to take security seriously and know how to activate good security measures.  Returning to financial stability, you stated that if you don't have other sources of income, you will use your investment as a repository for an emergency fund, which is bad for business.  and  since investing in bitcoin is a long time business patience is another factor to be considered.

All investments are difficult. For people who already have a job, it is already very difficult because we still have to try to manage the money in it, especially for those who do not have a job and a fixed income for them but that does not mean it cannot be done.
DCA looks more doable but again, DCA also needs a strict effort because we must be able to be more consistent to invest according to what we planned before but when talking about beginners obviously before doing DCA there must also be further learning. regardless of whether these beginners have money or not learning is important because this is not just limited to buying periodically and saving because I think they also need to look at other conditions such as the right time and momentum in buying. Conditions like this can be known (although not entirely successful because bitcoin is difficult to guess) with the learning we do.

It appears that you are playing it cool... but harsh. Correct. Absolutely correct! Attempting to invest while living paycheck to paycheck is like to trying to grab a falling knife. Insufficient funds? Ban Bitcoin! What, no Bitcoins? Its no sweat

Bitcoin investment is, without a doubt, a trendy issue. A goose that lays gold, for people who have enough of gold to spare. However, many who barely scrape by every day will be hit with a harsh dose of reality. This is a tragic tale, no doubt. Its a heartbreaking tale.

DCA was another term you tossed out there. Excellent plan! What a brilliant plan! But only if you've got some cash to throw around, pal. To average dollars, you must first have...

Really... Your advice is repetitive and in fact it is not updated to the new times, the speech changed in this new millennium, get an income, pay your bills and fulfill your responsibilities, I think that this is not new, you are not inventing the wheel of advice.

What has changed is that today, you can live quietly with an income without having a formal job and in that line, investing in bitcoin does not have to be slavery, and we all fall mostly, in that line of advice.

If you have a job or an income, then, it means that the bitcoin starts to arrive in lots,(!?), if your investment reaches 3x (e.g.) it does not mean anything, for those who have a few satoshi, even millions of satoshi, which is where the vast majority of lagging users are who are waiting for someone to tell them "work... first..."

I think he caught a few merits with his OP, in a piece of advice that is old and reformulated to bitcoin. :)

All the principles, financial stability, security measures, and knowledge are good factors to consider;

What about the risk involved?

In my own understanding, I think risk taking is also an important factor to be considered before embarking on a bitcoin investment process because of the techniques behind it, and the market instability.

If you don’t have a source of income even if invest in bitcoin you might end up selling the bitcoin back when you are in need of money, you might be having the intention to hold your bitcoin, but if you don’t have source of income, you won’t be able to hold for a long term, because whenever their is any emergency then you will end up selling the bitcoin just to solve the problem, you don’t have any money to fall back to than the bitcoin you are holding, which you might keep on selling it gradually till you sell all your bitcoin.

Buying bitcoin shouldn’t be the first aim, having a job or having a business should come first. If you are having money to invest in bitcoin, it’s better to start a business with the money, then you can be investing some part of the profits you are making in bitcoin investment.

I think most times it is because some people see investment in BTC as a means of getting quick money. That's why they can invest the little they have so it can multiply at the speed of light. But, more often they get disappointed because it just doesn't turn out the way they had anticipated.

if someone have extra source of money then they can able to invest and hold coins for some time for generate profit but off course there is always risk involve in using btc

But we don't know what the alt season could be in the upcoming bull market. Now everything speaks in favor of bitcoin, but if at some point, as it has already happened, after bitcoin finishes its growth, altcoins will start to catch up to it, and even in the last bull market, we saw a situation in which many altcoins performed better than bitcoin.

But even this example shows us the benefits of initially investing in bitcoin, even for altcoin enthusiasts, since after the rise of bitcoin they will have a chance to switch to altcoins and get even more profit. To do this, you need to have very good analytical skills, which is unlikely for beginners, but who knows, this is definitely something to aspire to.

Risk taking is part of the knowledge that's needed to be acquired about Bitcoin investment so this person already included what you are trying to say, I will like to add more by saying, extra income source helps your investment more than not having an income, on the risk side you will feel comfortable buying Bitcoin and you will be able to take more risks if you have others ways to survive.

Job is very important or other ways that can bring in money for you and that's why I believe this advice from OP is precise, many people likes to get involved with Bitcoin and they are motivated to invest in Bitcoin, but with money they aren't ready to lose, and that's because they don't have source of income, so if Bitcoin doesn't pump in a year they get tired of holding very quick and the thought of maybe selling and move on with their lives will set in.

Source of income will help you takes your investment journey for years to come without the need to worry about the money you used to invest.

If you a having the mindset of making quick money in bitcoin investment, then you will end up losing everything within a short period of time, since they are looking for quick money, if they join bitcoin and they didn’t get the quick money they are looking for, they might end up being introduced to a Ponzi scheme where they will promise them huge return in a short period of time without any risk, if most them see offers like this, they will end up falling for it and at the end they will end up being scammed, and they will be complaining that bitcoin is a scam, but they didn’t know they made the wrong decision.

I know people that are really ready to hold their bitcoin will have another source of income and they won’t depend on the bitcoin they are holding for survival, if you depend on the bitcoin you are holding for survival, then you will be selling all your bitcoin soon, and you might be selling at lose.

They can hold because they don't rely solely on Bitcoin's earnings as their primary source of income is their job or business. This is to compare why rich people can hold for many years while poor people can't. That is why I encourage people not to focus on Bitcoin investment because this won't make us rich instantly nor earn a profit right away. As we can see, a lot of people leave crypto because of their wrong expectations. Well, we can say that Bitcoin is a profitable investment but not to the point that we can expect it every day, maybe if we are trading that seems possible. But if we are just holding, that is impossible, it takes months or years.

Here's the deal: you're totally right about the quick-cash mentality. Zilch! Nada! Zero! Need cash now? No, mate, that's not Bitcoin. Some people here think that Bitcoin is a quick-cash machine... A slot machine in a restaurant in Las Vegas! Well, here's some news: it's not! I know it's sad.

Ponzi plan? That takes trouble to a whole new level. Big money with no risk? Come on, doesn't that sound shady? To believe that, you'd have to have your head in the sand. Sadly, though, some do. Then they say Bitcoin is to blame. So it goes

And about having to live off of Bitcoin. You might as well bet on a goldfish to win a race, man. It wasn't the best plan. Always have a Plan B.

Which set of people do you consider to be the rich, and which are the poor? Anyone who is able to feed themselves three square meals a day should no longer be considered poor as they are already living above their means, and for someone to have left over money that they can risk investing in bitcoin, it should at least give us the mindset that they have something else to do that is their major source of income. I don't see holding decisions as attached to either being rich or poor; there are also rich people who have the money and have invested in bitcoin, but they always panic sell in every little market downward movement. This is not because they see bitcoin as a primary source of income, but as a result of being conscious of losing their wealth to the market dump, which is not supposed to be so.

There are people out there who are just earning a little by doing some helping jobs that are giving them enough money to feed and foot their daily bills, and they have the privilege of knowing about bitcoin. They happen to invest some of their earnings in bitcoin and will continue doing that over and over again, not because they are rich but because they have a targeted amount that they want to accumulate before a certain period of time. To me, one thing about holding bitcoin is to first not see it as a get-rich-quick scheme, and after that, it all depends on one's personal decision, whether to hold or to sell.

But if you're still confused on which advice to take. Just start. And make it a goal for you not to lose money. Because at the beginning when you're still learning, the goal is absolutely not to make money but to survive while remaining sane. You must not be reliant on your BTC income because it will not be stable in the beginning years. But sure enough if you last long in the game you'll make more than you expect.

Totally get what you're saying! It's all about the balance, right? Rich folks can afford to hold onto their Bitcoin for the long haul since they've got other income streams keeping them afloat. And you're spot on about not relying solely on Bitcoin as a get-rich-quick scheme – it's more of a long game. Patience is key here, unlike those unrealistic expectations some folks have. Bitcoin's like a slow-cooking stew, takes time to reach that delicious flavor. So, if you're in for the hodl, better pack some patience and wait for those months or even years to roll in. 🕒💸

You are right. Bitcoin investment is usually a long term investment and shouldn't be entered into with the intention of making quick bucks. And moreso, before investing in BTC, one should as a matter of necessity have a reliable source of income, otherwise, they may not be disciplined enough to leave that BTC in their wallet when they start having financial emergencies.

From what I can tell, it would be better for the newbies to mine their own Bitcoin. Just a small amount which is barely enough to try out a couple of transactions. For practice. Not only would they understand where Bitcoin comes from, but they would understand the advantages of Bitcoin over Fiat much more clearly, after having an in-depth introduction with practical decentralization.

Then there are testnets online, with which you can practice trading on an exchange. Deribit testnet being one of my favorites, although I have not used it for years now.

Yea, that is the whole point of the discussion. Before invest in BTC, first ensure that you have another source of income you can rely on, not that you're investing with all your monies because someone told you that investments in BTC can make you rich. Get a job, and then invest with spare cash.

The Bitcoin exchange rate is already too high; it will be difficult for you to get it. It's better to participate in the Airdrop or Bounty Campaign to get Altcoins that can be used to buy Bitcoins, because if you buy Bitcoins using money that is often used for the necessities of life, then when the price collapses, it will make you depressed.

Bitcoin mining is hard; I mean very difficult. It would be an understatement to say that most people are familiar with the equipment used to build mining rigs.

Even if it's meant as a learning experience, the plan to mine for practice might be like building a car from scratch to get behind the wheel. Nonetheless, who am I to make a decision?

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Put another way, "Don't just drive; build the car, the road, and the traffic lights too!" Despite the fact that it defies logic, I admire your faith in Bitcoin, and I admit that I am a little bit envious of your apparent familiarity with the crypto world. Right now, Bitcoin is your only choice.

Yes, getting a job is very important, this happened to me as I often had to sell the bitcoins that I accumulate for living expenses and my family’s expenses.

It sucks that you have to sell your precious bitcoin in order to make ends meet for your family's monthly expenses.

Totally agree with you! I don't understand people who invest money in crypto, not having any savings or regular income. Like why?
Bitcoin or any other crypto won't make miracle. The slightest mistake - like losing a password will lead you to losing the cryptos. Don't be so naive!It's not 2008 anymore

Do you believe bitcoin holding will bring you great profit in the future or is it just a fairy tale? What's your opinion?

Newbies to Bitcoin investing must follow these tips to stay safe from losses. As the newbies want to take Bitcoin investment as their main source of income. But they have no idea about when they can invest and when they can lose money. Avoid investing when the market position is always at high levels and instead invest for a long time when it is going down. When following such practices, newbies will understand in certain respects when an investment will make them profitable. To be profitable, one must know the market well and accept that the volatility of the Bitcoin market can happen at any time. In that case if the person suffers loss then he must be patient for a long time but he can gain. Moreover, you need to be experienced in many other things so that you don't have to face losses and you can succeed if you follow the advice of a good investor.

Past price history of Bitcoin has shown that making life changing money investing on Bitcoin is not a fairy tale, but as time goes on it's getting more harder because Bitcoin is slowly becoming more value than even Gold, after 2025 It will be extremely harder to buy good numbers of satoshis you can easily buy today.

We've had a few discussions on this forum where it's stated that 0.1BTC can make you rich a few years to this time, but we can't ignore the fact that 0.1BTC is a lot today, a few years back it's not, so maybe after 2025 it won't be easy for an average Joe to hunt for 0.1BTC.

Maybe 0.01BTC will be the new good level of Bitcoin people can or should target to make good profits for holding BTC for 2030 or so.

Begging others to get bitcoin is bad, just as selling your house for that reason, but I feel like we're talking about extremes here. Just as it's not a good idea to borrow money to gamble, or to invest with high leverage, it's also not a good idea to be sitting on millions in fiat money and not getting even a single bitcoin.

I feel like the advice given by OP, although good, is very obvious to any grown up, responsible investor. I feel like it's aimed towards teenagers for whom bitcoin is their first investment ever.

Bitcoin is a good future investment but in order to achieve it, it requires our time and money. So I don't see it would be possible if we don't have a stable job in the first place. Bitcoin cannot guarantee to provide us food on the table, but having a job first will do. That's why it's better to land a job first before you seek for any potential investment.

Yes, I think what the OP means perhaps more specifically is a beginner or teenager who doesn't have a stable income and still relies on the pocket money they get from their parents to invest in Bitcoin.
I agree with what the OP said because it is better for someone to have a stable job or income before starting to invest in Bitcoin.
But I also think there is nothing wrong if someone uses the money they receive from their parents or other people to invest in Bitcoin. Because in my opinion if you are a teenager and want to get used to starting investing then it is better than them spending the money they receive on activities that are less useful.

Are you insured against force majeure? I don't think so. Therefore, it makes no sense to talk about having a constant source of income that will help you not to touch Bitcoin on your wallet. Different situations may arise when a large amount of money is needed. For example, for the treatment of a loved one or something else. Well, how then to be? It can't wait long.
Therefore, all these points should also be taken into account and not be so naive in this life.

New members should first follow the advice given by you. Experience and skill make a difficult task much easier for someone but a simple task for a new person is comparatively very difficult. New members do not have a clue of where to start and finish a particular task, which is why they find these tasks very difficult. If the new members are interested in investing first then they should first gain enough understanding about investing. A new investor can get ideas about investing in different ways like following other investors, watching different videos about investing or looking at different investment related posts on this forum. If the new member expresses his desire to know then surely he will know. So those who are new should try to know first, if there is an attempt to know then surely he will know a lot about investment.

op's post I am really impressed by his post because those who are new who are new users can learn a lot from op's post then they will understand how to invest bitcoin. Bitcoin is definitely easier for the wealthy because they don't have to withdraw the bitcoins they trade in a short period of time which means they won't lose as much if the price of their bitcoin goes down. And for those who don't have enough capital to provide money, need to borrow from someone or sell some land, Bitcoin becomes a little risky. However, I will say that Bitcoin is very important to Ubayy, so we hope that when we trade Bitcoin, we must be very careful and do it over time and it will lead to success in life.

It is true that there is no guarantee that we will definitely not have to sell bitcoins because the future is unpredictable and life is always full of surprises. But you cannot deny that if we prepare everything well such as having a stable source of income, saving for emergencies... then your investing and holding will be easier and less stressful. Like many people started complaining that high inflation is making them struggle with their daily needs and they are thinking of having to sell their bitcoins because their family's day to day needs need to come first. But there are also many people with good income and large savings, they never thought about selling their bitcoins. Planning for life is very important.

A simple statement but very reasonable to digest, it is true that there is no guarantee for us to continue to maintain it and put aside the needs of our lives, no one can predict the future but here we can prepare everything to minimize the risks that will occur in the future for a very emergency. You may have enough income for now but it is not necessarily for some time to come, so it is a good choice if you look for other opportunities to increase your income, besides you invest in bitcoin but it would be better if you also look for other opportunities in real life. Inflation will continue to occur and as you and I have said above, you need to look for new breakthroughs to minimize or help you make ends meet in the midst of a significant increase in the cost of living.

if you have no other choice then of course you will sell the bitcoin that you have been maintaining, life is more important and it is indeed the best choice than you let your stomach starve.

But on the other hand you can also continue to live normally in the midst of inflation that occurs and you also absolutely do not lose bitcoin or do not have to sell bitcoin, and the way is to start from now on to find or form new opportunities to increase your income. So it will be very useful for your life in the future.

You really give the best advice ever not just to beginners or newbies but also to those who have no job and want to invest in Bitcoin. I appreciate your work. Most people think that investing in Bitcoin makes them rich faster but they don't know that Bitcoin is not a scheme which make your money double within minutes. Bitcoin needs investment and will only be possible if you have a passive income For that, you need to get a job first through which you fulfill your daily uses and save the extra money and when you make it large then I suggest you guys invest. Again Before investment, you need a healthy job.

The reality is that it is hard to invest in bitcoin now. Before all you need do is buy bitcoin and watch it 2x in a very short period of time because the rate of adoption was fast. Nowadays, you have to wait for years before you see any profit. Then again, investing in bitcoin as of today seems more complex than before. Too many scams out there, to many security risks out there and other unforeseen circumstances too. Therefore, I buy into the argument the beginners do not need to first invest in bitcoin financial education should be topmost priority and them security before investing.

It isn't that hard as long as you have extra money in your hand.  You can buy $10 of bitcoin years ago and you can still buy $10  of Bitcoin today, so it does not change, what changes is the amount we receive buying in that exact amount.  Buying is not hard but the way you states it is like it is harder to make a profit in Bitcoin today.

About scammers, there were way more scammers before since it wasn't regulated as today, and the information way back about BTC isn't as profound as today.  Though I agree, beginners do not need to jump into investment in Bitcoin first but should learn about BTC and its market.  It is always advised to have knowledge about the planned investment since it will save us from unnecessary losses.

You have given great advice that, if any newbies follow, will be a great help to them in their Bitcoin investment. If we don't have enough money or have a place where we are earning money, often Bitcoin investment will be somehow boring to someone because they will never have peace of mind if the Bitcoin price direction changes to downward.
 
I believe if someone has a source of income before investing in Bitcoin, they can even hold on to their investment for long periods of time because they hardly be  panic much because they are not really rely on that.this what make me also think sometimes about how those who brought Bitcoin at early stage Bitcoin when the price was very cheap, and some of them never sold it up till now, if not because they have sources of income or other ways of getting money, assuming they only rely on their Bitcoin investment, they will have not have the opportunity to make huge  profits they making now. 

yes, I agree with what you said, and it is true that work must be prioritized if we already have a job investing in btc will be calm, and I have also experienced investing in btc using money
which was not ready to disappear, and in the end it was panic that I got, When the market went down and finally I sold btc at a low price and I ended up losing.

It's true, don't invest in BTC first if we don't have money ready to lose to invest in BTC.

Beginners venturing into the world of cryptocurrency, particularly those considering investing in assets like Bitcoin, should make it a priority to secure a stable job and establish a reliable source of income before entering the cryptocurrency market. Several compelling reasons support this prudent approach.

Having a stable job and a regular income is crucial for achieving financial stability and security. Cryptocurrencies, Bitcoin in particular, are known for their price volatility, which means their value can experience substantial fluctuations in a short span. Without a dependable source of income, individuals may lack the financial resilience needed to weather the inherent risks and market turbulence associated with cryptocurrencies. It's paramount to ensure that basic financial needs are met before exploring riskier investments.

I think that even when inflation passes and life returns to normal, people should still continue to increase their income if given the opportunity. We should not only think about increasing our income when inflation occurs and not need it when inflation passes. Life will always have surprises and inflation will return in the future. So, to be able to live a comfortable life and not sacrifice any of your bitcoin investments, always work hard and try to increase your income regardless of the economy.

Isn't bitcoin itself another job to do entirely, because it gets you busy and also make you rich, have a source of income and renders other investment opportunities for you, bitcoin can offer you what some other jobs can't offer, if there's chance for you to invest in bitcoin, it's then an opportunity for you to take action on as fast as possible, but what you will have to do is in having the better understanding of what is required before making that investment first.