Bitcoin Forum

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.


I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research,  and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.


So if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach, this approachable helped a lot of newbies to be able to have the right mindset and accumulation approach towards bitcoin, and they can accumulate a good amount within a short space of time, and also building a sustainable knowledge that helps you to have a better understanding of the market and to make good analysis.

Sorry to say this, everybody must not do what you do. Different people different strategies, if that's how you learn it and it Favor's you, it might/may not definitely favor other people

This paragraph I quoted actually explains that you weren’t a total newbie before buying your first bitcoin you might have read about them before or some guided you, because a total newbie wouldn’t be aware that it is bad not to store coins on exchanges. In fact most newbies uses exchanges as their first wallet because the lack the knowledge. So for a total newbie they wouldn’t just jump into buying bitcoin yet but rather sort after knowledge on where to get and how to do it. They also need gain knowledge about wallets and which is what and why they should install any. So with this informations lacking at first, it is bad to acquire bitcoin then.

So with that knowledge stated above, you can stick to only bitcoin and grow your knowledge before going out on Alticoins because they need extensive knowledge to do there personal research

Never invest in anything that you have zero knowledge even if it's Bitcoin.

As a newbie, the first step is to DYOR about Bitcoin and then they need to plan about purchasing it and for sure they will eventually land at bitcointalk and Reddit while researching Bitcoin where they will learn more about it.

After purchasing their Bitcoin they need to move it to an actual wallet, for a beginner I recommend Electrum which is available on both Android and Desktop platforms, for IOS bluewallet is a good choice.

For multi crypto - Android/IOS = Unstoppable wallet (https://unstoppable.money/)

Maybe some of us are very lucky that time at least in my time here when I was a beginner because I didn't buy bitcoin initially, just like the rest of us 5-6 years ago, we just work on signature campaigns and that's how we earn our bitcoin.

And yeah, in due time you learn about wallet and how to secure them or practice good security hygiene later.

After that it was DCA for everyone, slowly, week by week hard and grind and buying every opportunity we can. Everyone goes on education here I guess and others might have their own approach. But the lesson is that Bitcoin will really teach how to save and be financially motivated.

The advise is the same across board. Buy Bitcoin. At the moment no person has any excuse on why he or she will not buy Bitcoin. In fact there are more reasons to buy bitcoin now than there has been last year or the year before. In terms of one of the best performing acts assets Bitcoin is the number one. In terms of future possibilities Bitcoin is the talk of the town. Good thing that there is no one compelling or mounting any pressure on anyone to buy 1 Bitcoin. You can buy the littlest fraction of Bitcoin and starts to build or from there.

Having your BTC saved in a personal wallet is still not safe or secure if you don't verify the wallet before using it.

I think learning should be the first step. Not learning first before investing in BTC is like gambling without knowing the game rules and regulations such a person has to lose the game before even starting cause she will lack the knowledge on securing the investment, risk management, and taking a profit.

Mate we are saying the same thing and when i say I started my Bitcoin journey I was a newbie, that doesn't mean I don't have basic knowledge of wallets and exchanges because without the two mentioned, there is no way I can buy or own the Bitcoin innthe first place.


But even with that basic knowledge, a lot still needs to be done and learned in other to be able to securely orient the privacy and security of my Bitcoin holding and what the best way to take advantage and use many of the other features that come along with bitcoin, that aspect needs a lot of knowledge to be able to succeed in it.

Buying before doing research is never a good idea, especially not with Bitcoin which has certain common pitfalls like keep coins on exchange, losing the backup, downloading a fake wallet, etc. But the amount of knowledge required to invest in Bitcoin is greatly overestimated. All that people NEED to know is the basics of how to not lose their coins and why they should just hold for long term and wait. That's it, there is no "journey" or "learning", more advanced topics aren't really needed for investors.

Bitcoin is the safest cryptocurrency and is most recommended investment for a beginner in the crypto space. Unfortunately, newbies have a wrong perception of bitcoin, they believe it’s a short cut to making riches but in reality bitcoin investment do not give high yield profits as it’s made to look like on social media. It is a slow process that comes with lots of discipline many times when newbies learn that bitcoin isn’t going to make them rich overnight they oftentimes turn to investing in altcoins in the pursuit of making profits. That’s my personal experience with newbies in this space.

If a person wants to invest in crypto or hold crypto. It isn't necessary to buy lots of BTC. That is the common mistakes from newbies where they thought that if you want to buy Bitcoin is that you should buy 1 BTC when you can buy Satoshi until the total of Bitcoin you reach to the target your aiming or your goal. It isn't a long time ago where a newbie thought that it isn't possible to buy bits of BTC but rather you must buy a whole BTC.

I don’t think what you said here is true. How can you be a total newbie to bitcoin and go and invest without any prior knowledge of how the investment goes? You said that you store it in your personal wallet, which I think a total newbie won’t know about. Most newbies mostly store their first bitcoin in exchanges; they don’t get to know that there is a personal wallet until they enter the market. However, I think you join the bitcoin community with your knowledge but not much, and then you later start doing more research to know more things and how you can store your bitcoin safely.


People who jump into the market without knowledge are the ones who easily get scammed. Why will you decide to invest in bitcoin without knowledge? Bitcoin investment is not something you will rush and do; it’s a process you need to learn systematically before you make any move. If not, you will spoil what has been invested, and we all know how scammers have been attacking investors, so don’t you think advising someone to invest and later learn the process will lead them to another problem? For me, that is a bad idea, though.

They are worrying about high price and high cost they have to pay to buy Bitcoin but they don't know they can buy any piece of Bitcoin like 0.5 BTC, 0.1 BTC or 0.01 BTC, even smaller.

After worrying too much, they end with altcoins that are cheaper and more promising in their eyes. Unfortunately they don't know or ignore fact that altcoins are more risky.

How many cryptocurrencies failed? (https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed)
Only in 2021, more than 3000 altcoin projects failed and the number is much bigger if we count all years so far of cryptocurrency market.

If you started your Bitcoin journey by storing your coin in a personal wallet, I assume by this you mean you used a non custodial wallet, it's good and you are actually very scarce case among many Bitcoin newbies.

I agree choosing a good wallet is key and very vital to secure your coins, your money and can help to increase your wealth too.
Everyone can choose a good Bitcoin wallet with criteria like: Open source, non custodial, coin control feature, Segwit, Tor support.
https://bitcoin.org/en/choose-your-wallet
https://walletscrutiny.com/

As a newbies having the knowledge of BTC before buying BTC is the best way to grow higher in this BTC investment because, a lot of newbies has experienced massive losses in their investment just because they just followed crypto investors to buy BTC from the market without knowing when to sell to make a suitable profits at the end. If you have fiat investment knowledge, you still need to learn a lot of things that related to  BTC investment before you will be able to do well in your BTC investment because you must learn when to buy and when to sell your BTC which are very important to newbies to know in the community.

 You can invest in BTC when the price is low in the market and, continue learning from potential crypto users in the platform and it will help you to grow on how to make a good choice in some potential coins that will bring you good profits.

Other than the basics of learning Bitcoin, such as how to set up a wallet, store seeds, how to send a transaction, and basics about the economy and Bitcoin, you do not need in-depth technical knowledge to buy Bitcoin, and since the price of Bitcoin continues to rise, after obtaining the basic knowledge, it is better to buy Bitcoin until you learn more, such as how to allocate fees. Broadcast the transaction to be confirmed in the shortest possible time and prepare a multi-signature wallet. Buying first and learning later is a good strategy.

People who want to buy Bitcoin must have their own way. And your method is good for those who want to invest in Bitcoin. They can follow the method you have used so they don't need to delay buying Bitcoin.

By purchasing Bitcoin in the minimum amount allowed by the exchange and doing it regularly, they can immediately own Bitcoin. And they can also continue investing in the DCA method while learning more. However, most people will still delay investing in Bitcoin due to various considerations.

Maybe they will invest in Bitcoin once they are truly ready. Who knows when they will start becoming Bitcoin investors? Only they know. The important thing is, before starting to invest, learn the basics needed so that they can make the right start.

Sounds like a made-up story to me to get merit. It would be nice if he specified what kind of "personal wallet" he used, because if it was a custodial wallet it's not a great idea, and if it's not, there are only two types: a paper wallet which is almost impossible for a newbie to have made, or a HW which is unlikely. He says he was a student when he bought. How much was he able to buy? $50? and did he spend more than that previously on a HW for his first purchase to have it available? Sounds pretty unlikely story to me.

I won't talk about someone who clearly doesn't know about Bitcoin, Average Joes aren't even know the difference between personal wallet and exchange wallet. That why most people hold their coins in exchange wallet, but you're know the difference? ;D

If the Average Joes have money and they want to start to invest, I believe they will choose centralized assets first e.g. stock, gold, etc and if they have interest with cryptocurrency, they will try to buy shitcoins.

Most people who buy Bitcoin are mostly understand what is Bitcoin in the first place.

If i look at the story you wrote, it looks like you want to trade. So a beginner must be prepared to lose, even lose Bitcoin. If you are a beginner trading then you should learn, technicals, fundamentals and emotions. The fundamental way to see how news affects and emotions is how you should be able to control your psychology in making decisions. Master it from the ground up and light. Don't learn too hard at the beginning because maybe you will feel very difficult. Because there are so many things related to Bitcoinj. You have to study patiently.

I see so many loopholes in your posts that could lead newbies into losing their money. For me i would advise that they learn a few things first about bitcoin and also how to not lose their coin or wallet before they proceed to owning some.

If a newbie just comes into the crypto space without having a basic understanding of what bitcoin is then they’re most likely going to fall for some shit scams; from purchasing an altcoin with the name “bitcoin” to using a scam exchange to purchase their first coin. You story might be true for all that I know but I’m sure it won’t work well for everyone.

Well op,if you're thinking about investing in Bitcoin, it's important to know how to keep your money safe. It's clear from what you've shared that you had some knowledge before buying your first Bitcoins, which helped you choose the right kind of wallet to store your funds. As a beginner, your first step is to learn about Bitcoin and how Blockchain technology functions. Once you understand that, you can buy a small amount of Bitcoin to get hands-on experience and understand how it actually works.

Be sure to think before buying bitcoins as I am a newbie and have not got the guts to buy yet I am trying to know better but may buy in the future so I think the market is full of system If you do not have the knowledge, the chances of failure are high. The methods I learned above also require thorough knowledge I am trying to learn and understand a lot
All in all one should buy bitcoins but do not invest in the wrong place then maybe I will be successful with the way bitcoin price is going up I do not know if I am right.Another important thing in Bitcoin is to save the keys after purchase and keep it confidential then it is definitely possible to make a profit.

I have a very long list of platforms that are ran through Bitcoin and most of them turn out to be scam. Participants of these platforms actually parade themselves as Bitcoin investors even when they don't hold the Bitcoin the invested into these platforms apart from random numbers generated for them by the platform founders. They only realise the folly of their decision when the platform crashes.

To be a Bitcoin investor require that you buy Bitcoin and hold in your private wallet where you control the private keys. This is the sure way to qualify as a Bitcoin investors as many other things people call investment in BItcoin are just mirage.

For new people coming into the crypto space, it is very important to get a good education and adequate knowledge. This gives them a basic idea of ​​the proper process and what to do for a safe first exchange and no scam related disappointments. If not properly learned, crypto can lead to manipulation and other forms of deception and temptation. Register, test, and first understand Bitcoin or any cryptocurrency. Just because it's good, doesn't mean you can't understand or buy it. A comprehensive knowledge and support is required especially with the ever-changing cryptocurrency market conditions.

To be sincere to you, you started on the wrong note to acquire bitcoin. Just because you didn't fall into a scammer's way of defrauding people of investing in their hands, doesn't make it a good way to start investing in bitcoin without having the knowledge.

Some people started on the path you started(investing in bitcoin without the knowledge) and they lost their investment to bitcoin investment.

I have heard stories of those who fall victim to scams because they thought the knowledge of bitcoin is not necessary, investing in bitcoin comes first. They made the mistake of investing in bitcoin in someone's hand because of the promise of profits in a few months, storing their bitcoin on an exchange, and not keeping their seed phrase safe.

When the above-stated mistakes happen to them in a way they never expected they will call bitcoin a scam without blaming themselves for not having any knowledge of bitcoin first before investing in it

They can, of course, even buy ⅒ of the least among your listed examples. Anyone can buy as low as $2 (or even $1, if fee allows) but the problem most newbies will have will be how and where to buy. Though it's much easier this day buying Bitcoin from either exchanges or P2P, it wasn't that way when I got on board in 2017. It wasn't easy buying because of the preponderance of scam.

There was something that happened then with my inability to buy Litecoin which was around $4 because I didn't know how to go about it. I was a greenhorn but my instinct told me its price would rise. I didn't know how to go about it and so I missed out buying. I hope our latest newbies don't run into such challenge now.

A lot of new crypto investors go for altcoins instead of bitcoin.  They think the cheaper coins mean they can get more for their money.  Some folks wanna spread things out across different cryptos.  They get hyped up about certain altcoins too.  but they might not totally get the differences between bitcoin and altcoins. And the extra risks with altcoins.  It's important for people just getting into crypto to learn and be careful.  Bitcoin's definitely seen as safer and a good starting point for newbies.

Alot of the bewbies will also want to gain knowledge about the investments and how it works and when it comes to Bitcoin is very hard for you to see any of Bitcoin investors putting down their money without any prior knowledge of Bitcoin and what it stands for, some time because of the complexity of Bitcoin that always raise curiosity among it, potential investors.
So is very hard for us to say or tell whether this advice is right or wrong but from the ops explanation one can decode what it really means to buy Bitcoin before even gaining the in-depth knowledge of Bitcoin and how it works, so this is very important to know to better our u understanding of this topic and what the lesson therein it.

I have seen a lot of misunderstandings around this topic and I have read so many comments that contradict what was my original  intention to use such words and and that manner, the fact is that, Bitcoin have given us free luxury of time, so for that, we can handle and learn along the way, I agree with the fact that one needs some level of knowledge and education before buying your first Bitcoin, but then also even a noble can be helped to hold bitcoin without any information or knowledge of the market.

All that is needed in such a scenario is for the nob to submit tame few instructions under the guidance of an experienced Bitcoin holder, and with that, the newbie can there after owning their first karosho the time to build knowledge as it relates to Bitcoin.

Buying a bitcoin is something of decision and determination, when you have the passion in bitcoin you will purchase a bitcoin either in long-term or short term, so I will say that if you continue to have fear in bitcoin investment their is no time you can invest in bitcoin, because its very obvious that nobody can learn it all about bitcoin, investment is a something of mind and choice and it have to do with two things either you lose or you gain, so profit is not guaranteed in cryptocurrency investment or in bitcoin investment, and when you want to buy more of bitcoin you have to calm down and went until its a time of bearish so that after your purchase a bullrun can manifest and you make your profit

OP it is nice you had the opportunity and privilege to buy Bitcoin while as a beginner and you were able to hold while you learnt and continued your search in acquiring more knowledge on Bitcoin.. I believe as at when you got to know about Bitcoin, you had funds which you can call as spare cash and in that case, you invested in Bitcoin by making a purchase which spurred you into being more interested in learning about Bitcoin. That is very good of you OP but do you think it is every one that is privileged just like you then, currently people are just trying to see how they survive even here too. Although people do invest but it does not necessarily means that one must buy and hold before learning. One can still be in the process of learning to get more knowledge before buying vice versa both are still okay to go with mate.

That's the usual strategy that many does, it's for them to decide for what they're going to invest but nothing beats going first with Bitcoin.

The problem lies to it is that when they invest randomly and don't have time to search for what they're investing. That's when they think Bitcoin isn't worth it because of how expensive it is right now.

But little did they know, those cheap altcoins might be dead soon without even noticing it.

I feel as a newbie, what is more important is to have the knowledge of bitcoin before you buy some bitcoin. If you jump into acquiring some bitcoin, you might end up losing it just when you thought you’ve invested your money into a good investment. Learn the basics, know the pros and cons of investing in bitcoin, know what to disclose and not to disclose to the public when you’re asked about your investment. Without a basic foundation of learning, all your work will become futile if you lose your bitcoin for being ignorant.

When it comes to investing your hard-earned money, it pays to do your homework first.  Doesnt matter if you are looking at Bitcoin or stocks or whatever else - you gotta educate yourself before jumping in.  Rushing into things without understanding what you are getting into is how folks end up losing their shirts when the markets turn.

My advice? Dont be in a hurry.  Do your research and really understand where your money is going.  Once you got that down, then you can start putting your cash to work.  Slow and steady wins the race here.  Go into any investment informed and with eyes wide open.  Take that approach and youll avoid nasty surprises down the road.

If you had said anything other than just knowing the basics, I would have argued with you because some people here in the crypto certainly seem to think that before someone can buy and hold Bitcoin, the person needs to actually know the technical stuffs about Bitcoin of which I know isn't all that true because myself I didn't pass or possessed such knowledge before ever actually buying or even holding my coins.

 I also have different mindset when it comes to investment. I don't easily jump into risking my money and just invest on whatever my choice. I need to make an in-depth research first if this investment is a secure one and if it will be a good choice that will give me sustainable profits in the future. I need to secure my funds as well because as much as possible, I don't want to risk my lifetime savings but will always chose to spend my spare money so that If I lose, I won't have to deal on its consequences after. And lastly, I don't dare to invest if there are no reliable feedbacks from other bitcoin investors, as that is also one way of extending my research.

This and many more as expert guides to securing your investment,  and for sure it depends on the investment any ways because when it comes to assets like Bitcoin, you have to make further enquiries because what most people take as Bitcoin investment is actually not Bitcoin but a third-party cooperative which can fold at any time, and much more also we have to agree that other similar factors such as high profits yield schemes are a scam, so for sure in other to protect your investment you need to have some level of knowledge.


But what makes Bitcoin investment much more secure is that, as an investor, you hold your assets and you control your Bitcoin, this decentralization is what has given Bitcoin investors the freedom and control which allows and gives them the luxury of time to research further while they keep holding.

One of the best approaches is to save some money from your salary to buy bitcoins and you can also try what the others have done, they quit their bad habits and convert into bitcoins instead. we have such wonderful stories as the one who quit smoking and used the money he spent from that to buy bitcoins and he hit the jackpot when he reached the bull runs with months of preparations when he bought those bitcoins at its lower price. It's not always need to start with a big amount rather with constant investment in a small amount, you will build a legacy in your investment when you hit the jackpot like him.

Little did novices know the plenty of potential faults attached  to  "buy first then learn" scenario.

The wise is the reverse scheme.

To learn technicalities of bitcoin you totally don't need to deal with real coins, test ones would be enough. You can connect virtually any wallet  to testnet, and use testcoins to learn all stuff about UTXOs (how to frees, to send, to consolidate, you name it).

To learn trading crypto  you may use trading simulators (like this one  (https://bitsgap.com/demo-trading)) that eliminate the risks of loosing you real stash.



  

You're no longer a newbie if you knew you had to keep your Bitcoin in your wallet and keep your seed phrase safe.
You already understood that keeping your coins in exchanges isn't safe, that's not something a a newbie would know. For you to know that you already have some knowledge about Bitcoin.
You can advise someone as yourself to do what you did but telling someone totally new to Bitcoin to just buy first doesn't sound good to me.
I know not everybody can follow the same path but it's not advisable to invest in what you do not have an understanding of.
What if that newbie buys Bitcoin and holds and it dips within the week of his buying? What's he going to think since he doesn't have the right knowledge about it?
How's that newbie going to know that he needs his wallet and he should avoid exchanges as a means to save his coins?
At least let them get the basic knowledge first before they can buy.

Storing Bitcoin in a personal wallet and not on an exchange is correct. Even if you feel that you are correct in how you store the key or seed phrase, according to experience, efforts to store the key must be reviewed every time to ensure that the method of storing the key has been proven correct.
The bitcointalk forum provides a lot of knowledge for those who are active and serious about getting knowledge about the things they want to get.
Not specifically for beginners, those who are no longer beginners sometimes cannot feel the benefits of this forum if they are not serious about making the forum a space to gain knowledge about Bitcoin and other things that are available in various discussions.

The best investment for beginners is to invest and hold Bitcoin. We have seen many cases where many investors got hurt and lost money by investing in altcoins. That's why these things are important for those newbies to know when they are interested in investing. When interested in investing they need to acquire good knowledge and the best and profitable way to invest in Bitcoin. If one plans to invest in any altcoins other than Bitcoin, one will surely suffer in the future. Of course, these are the most important things to a new investor, who should start with Bitcoin when he starts his investing journey. And before investment, it is necessary to know better about the wallet, it is important to know where the money will be safe, and we all know the risk of keeping money in the exchange, so we should use a wallet with security. It is most important to invest bitcoins in a good wallet and keep its keys in a diary or a safe place for maximum security.

That's because those people that bought altcoins as a beginner wanted to try something different, they probably saw bitcoin to be a little bit intimidating especially in prices so they want to make bang for their buck and try cheap shitty altcoins so they can have the illusion of getting the right value for the money that they've invested. I totally agree that bitcoin is the best investment for beginners maybe even veteran investors because of how powerful the influence that bitcoin has and it's ability to continuously grow despite resentment from many traditional investors.
This is actually an awesome thing and a heartwarming one, converting the money you could've spent on your vices into bitcoin is something that not a lot has think of in terms of recovering from your bad habits.

Nice talk, buddy. This is something that some beginners should know before doing anything related to bitcoin or investments. A lot of beginners find it hard to comprehend bitcoin since they invest in it without knowing anything about it. Having a wallet and investing in bitcoin does not, for a novice, imply that you are an expert in the field or that you can handle your coin. You will need to learn more in the forum about how to conceal your wallet's secret keys and how to hold onto your coin so that, even in situations where your instinct tells you to sell it for no profit, you shouldn't.

The reason why some beginners find it hard to understand bitcoin is that, when they first learn about it, some do not ask questions; instead, they assume that investing in bitcoin will make them money; some believe that investing in bitcoin is the best way to become wealthy quickly; others invest in bitcoin for more than three or four years without selling it. As a beginner, you must realise that not every time bitcoin profits increase; it depends on the time.

My statement applies to every investor irrespective of cryptos and there is no need to learn in-depth about bitcoin but a basic understanding of the technology is mandatory even if it is Bitcoin then only it is possible to avoid scammers, hacks, and so on.

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

Well, that is true as we don't need to dig deeper because our intention is to just buy and hold unless we are trading.
Unfortunately, what happens is the big opposite, most people come and invest blindly and then start to learn about Bitcoin after, sometimes when they lose. In fact, the things needed are to know what wallet to use, market timing (buy and sell), and how to keep our funds safely. That is pretty simple but as I've said, most of us just learn after committing mistakes and suffer losses.

Most of them don't even learn from their mistakes and still feel that short-term investments aka get rich quick is the theme for investing in bitcoin which isn't always the case. Of course, it is possible to make more money by doing short-term/intra-day trading but consistently being successful is not possible in trading so their ultimate goal short be a long-term investment or at least 4 years.

That's the usual hype when the market goes bullish. It's why so many people fall into FOMO, thinking Bitcoin will bring them quick and hefty returns in no time. But without the right investment strategy, we won't make money during a bull market. We often fail to make the right move because of our own greed. Sometimes, we hold onto assets even when we've already made a decent profit because we keep thinking 'more.'

That kind of mindset can lead to regrets in the end. We need to be clear about our goals, whether it's for the long term or short term, as each requires a different investment approach.

Investment strategies and all others are secondary. first the person should be having basic understanding level of bitcoin like its decentralized p2p system, price based on demand/supply chain like that and also its high volatility, bullish/ bearish can be extreme compared to traditional investments.

I'm in agreement with what you said, because if OP doesn't have any knowledge about bitcoin, then how did he come to know about holding and accumulating bitcoin. Contrary to what he advised I'd have newbies to learn about bitcoin first, at least have some basic knowledge about it before investing. I didn't have any bitcoin experience when i opened my first wallet, i didn't even know the importance of seed phrase, i thought that they're part of the process to open a new coinomi wallet. I started to accumulate bitcoin inside the wallet, it was when i wanted to sell that I realized that I'd misplaced the passwords, anything that i tried to alternatively use the seed phrase to open the wallet it'd tell me that i should check if i misspelled any word. I got frustrated and just stopped  trying. I still have the wallet, but i might not be able to send bitcoin, ever from it. If I've had a proper knowledge of bitcoin, I'd have known the importance of seed phrase, and not be ignorant about it.

I want to use this opportunity to ask if anybody on this forum that uses coinomi wallet, has had this experience of trying to use seed phrase to send bitcoin, and the wallet is saying that the person should check for me misspelled word? I'm asking because i believe that it's the correct seed phrases that i copied and they're in the correct order.

I get it, even though it might be considered secondary, it should actually be a priority. Anything labeled as 'basic' is supposed to be easy to understand, but the real challenge comes when deciding which strategy to use for successful cryptocurrency investment. This can be quite complicated for newcomers, and in the early stages, they tend to make mistakes. If they start with aggressive risk-taking, they might not recover their losses and end up unable to continue investing. So, we have to understand that in this highly volatile and unpredictable market, a proper approach should be implemented on our part.

Every first step that begins with full awareness and thorough preparation, especially a good understanding of Bitcoin investment, will of course be more valuable. It's not just about how much we will earn later, but the courage to take this step is actually not easy and this is a determining factor. However, this might be different when we start without good preparation. Because having money alone is not wise enough to invest in Bitcoin. There must be a balancing of other things, especially related to good knowledge for investing in Bitcoin, so that we don't end up regretting it later because of our lack of understanding in Bitcoin investment.

Basically, Bitcoin is a very worth it investment, in my opinion, especially when compared to altcoins which in fact are all in almost the same condition and in the end are smaller or even end up being shit coins. For this reason, Bitcoin has always been the main investment destination in the cryptocurrency world. And this is well known everywhere. It's just a matter of whether we are brave and ready to invest in Bitcoin with all the risks that may occur. If you're ready, that's it, but if you're still in doubt, it's better to be firm in your intentions. By starting to buy Bitcoin for investment in crypto, of course it will be even better when compared with investing in altcoins for the first time.

Bitcoin just as a member once called it a save haven for investment is absolutely  correct especially  when comparing to other cryptocurrencies. I've always loved the idea of earning while learning and if you must take the path of earning while learning, then it should be with bitcoin because altcoins over the years have been termed gambling and it wouldn't be wise to advice a newbie to get into altcoins especially when trying to learn.

The truth is that people know how risky and dangerous investing in short-term coins but they still want to take the risk because of greed. Short-term investment is something many investors have loss all their money while investing in it, but still people don't learn from all this mistakes. It will be too bad for someone to lose investing in meme coins, bitcoin is the best investment anyone can think of to invest in because of how reliable it is in the market.  Before now bitcoin price was very low which made some people to think that Bitcoin will crash but bitcoin was able to survive in the market.

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Anyone that wants to get some fractions of bitcoin will always get it as opportunity to buy must always present itself. There's no point rushing into what anyone doesn't understand, it is a bad advice. You should rather advice newbies to first understand bitcoin, how to buy and how to save and then learn to do their own research before buying bitcoin.

My first time of buying bitcoin was when I was scammed, I didn't really know about the forum then. But when I finally know about the forum, I wasn't in a haste to buy bitcoin. Infact, will it interest you to know that any amount of bitcoin I own today all came from signature campaigns. So, with my weekly campaign payment, it was easy for me to DCA and buy bitcoin passively at my pace

This statement is wrong, its better to wait and not buy any Bitcoin till you have good knowledge than buying when you have little or no knowledge about it. Bitcoin is not a video game you can buy and later you start learning how to play it. The market is extremely volatile, seeing those red and green candle a newbie knows nothing about what do you expect them to do. Surely if they ignore the process of learning then move to start investing they will crash their investment along the road.

Newbies should learn first and not Invest first hoping to learn along the way. This is my candid advise, newbies should not have fear of not participating in Bitcoin early ir missed opportunities. One can only be happy in investing when they know their investment strategy and storage is safe.

Not a bad step to start bitcoin but from my own perspective, it is not the best. Today, we have more numbers of people that live their coin on exchange after buying them and the reason why this has not stop till date is because they don't have first hand orientation about bitcoin and the dangers of keeping coins on exchange. Even when there are multiple hacks last year of FTX and other centralized staking platforms, people have resumed buying and leaving their coins on exchange and the bull run returns, more of them will repeat the same thing until another hack happen again but I don't pray for that.

If today many people understand some of the values of bitcoin, they will not sell their bitcoin after a chicken profits, and that is because many of them don't read, they don't learn. They come and when they get some line of information about bitcoin on how it has changes some people life, they rush and buy and wait for it to mature and then sell. Is that what bitcoin is meant to be? These happens because they don't have proper information, what most of the newbies need is good path to invest in bitcoin before buying bitcoin later.

Exactly is a bad idea to buy something that you don't have knowledge on because in the process you can lose your fund when buying, so is better you have full knowledge about bitcoin before you invest or do anything like trading, bitcoin is the best investment you can invest and be comfortable that you can get profit when you leave it for long term but your statement details failed because without knowledge no one can know how bitcoin operates so is better some one has full knowledge about bitcoin before you invest or do and be confident that you can profit when you leave it for a long period of time, but your statement details failed because without knowledge, no one can understand how bitcoin works, so it is better that someone talks about how to leave it for a long period of time, some advantages and disadvantages, and get more ideas about it rather than saying something else that will not benefit anyone, because when I started my bitcoin journey, I concentrate about it very well before I started my investments, and I learn things about bitcoin in https://learnmeabitcoin.com. without bitcoin I don't know how our life will be now thanks for Satoshi :)

The method you suggest is very good for beginners who don't have any experience or confidence in Bitcoin at the start, however, convincing yourself to invest in Bitcoin is not an easy matter, so learn slowly while continuing to practice yourself by buying Bitcoin using the DCA method is a wise thing. Apart from that, all beginners investing in Bitcoin who also know this forum should be grateful because being deeply involved in this forum can increase their confidence in Bitcoin investment. Bitcoin has never made anyone lose, so for all beginners, don't be afraid to start investing in Bitcoin.

I doubt I share the same view with you regarding this. What you are trying to say is just like telling someone to get married to a person before getting to know that person or telling an employer to employ someone he knows nothing about and after he has employed the person, he can now start finding out things about the person while the work is on.

In as much as I believe that bitcoin knowledge isn't complete without investing in Bitcoin, I feel you should have at least some level of knowledge about bitcoin before thinking on investing into bitcoin. And I even doubt anyone would want to invest into something he knows little to nothing about. I will even see such invested as an uncalculated risk as it has high chances of not yielding the desired result as the investor might want.

Also know that if the person doesn't a good knowledge on best practices when it comes to bitcoin investment, he might invest his whole fortune thinking that it's a get rich quick scheme and might have serious tension on himself when he sees any sort of negative fluctuation in the price of bitcoin.

To be able to buy and store your Bitcoin you need to have some basic knowledge to be able to achieve that, if you have no knowledge at all it's not possible you will know how well to be able to buy and store before further learning, sorry to say but it's proper to think that you can just buy without any knowledge except you are assisted by some one who has a prior knowledge.

You will always need that basic knowledge to first get on board at least to know how to buy, difference between wallet and exchange and other simple basic knowledge about cryptocurrency before you be able to buy and store the go to acquire further knowledge about how cryptocurrency works and it's dynamics, these may be for further learning but you need the basics to at least be able to purchase coins. Although not everyone would want to follow your style some persons prefer to better understand all they can lay their h d on or probably make sure to get substantial knowledge about it first before investing a dime.

I don't know what you mean by basics information, because you are repeatedly mentioning basics. If you write a short but comprehensive post instead of such a long and wide post, it will be easier for people to understand. However, one should have good knowledge about Bitcoin, Bear market, Bull market, various indicators, right time of entry and surrounding news all these need to be closely monitored.


The main point is that if newbies buy Bitcoin in the beginning, they will have a good start but remember when to buy as well, because buying Bitcoin at any price will not be profitable. Learn how the crypto currency market works and how it fluctuates. We can never progress in any field without the help or support of someone everywhere, but through this we have to work hard as well as learn. These are just the beginning after which we have to believe in ourselves and move forward. Just as we can be a successful investor or businessman.

As a beginner, of course there are 2 things you have to pay attention to, namely:

1. Before investing, it's a good idea to first understand what Bitcoin is, what the benefits are, and what the risks are if investing in BTC, because without prior Knowledge, are worried that something undesirable will happen because the price of BTC fluctuates. and difficult to predict.

2. For beginners whant tho invest in BTC, of ​​course there is no problem as long as we start with a little money first, and use idle money, and as OP said, after buying BTC can immediately store it in wallet , and Don't store it on the exchange. and at that time a beginner must continue to learn and increase his knowledge about BTC and indeed if have BTC there are different feelings because the feeling of having BTC and not having BTC is of course a different feeling, so usually if already have BTC, although a little, of course it will create a different atmosphere. different and increasingly enthusiastic in exploring knowledge about BTC.

In my opinion, beginners should be able to choose according to their interests, whether they want to take point 1 or point 2.

but a beginner has to be himself and has to do a lot of research.

I read through his post and I could not find where he said you must follow his ideas.  This is an open platform where people from their ideas and opinions and leave you with the caveat "Do your own research". Nothing posted here should be taken personal because posts here are just the opinion of the authors.

As for the post, I'm actually using the method he described and it has been incredible! If you settle down to apply it. You might even fall in love with it. We all want the best and not here to show ego.

The information you are trying to pass is for the newbies to buy Bitcoin and hold before the learn about what Bitcoin really entails? I don't think this is a good idea. Like you know that there are different Blockchains and if anyone make the mistake of sending Bitcoin to another Blockchain, do you know that the coin will be lost forever?

 If you know this then why would you advise newbies that do not know about about how Bitcoin works or cryptocurrency to buy Bitcoin and hold when it is obvious that they can make silly mistakes of sending the coin to the wrong wallet. The best approach is to learn about cryptocurrency so that one can be safe when handling wallet and keeping there coins safe. Those that don't understand the market might be lured by scammers to send their coins or get hacked by mishandling there wallet address.

We do not have the same views about bitcoin, so you can't just tell a newbie to buy it without knowing much about it. That carries a significant risk. On the other hand, if a newbie decides to follow your lead and buy bitcoin without knowing much about it, they may later discover that investing in bitcoin is not the best they think for themselves. This cause another issue because they may believe that you are encouraging them to invest their money to get scam. This is why it's said that knowledge is wealth. I can't suggest that somebody new to bitcoin should jump into buying it right away; instead, they should take their time, research, knowing the risks involved, and then buy once they have a greater understanding bitcoin investment.

You made the right statement because it has made your life easier. However, not all beginners can take the same risks as you can. In my opinion, most beginners have invested their money in the wrong platform, which is why most people still don't understand bitcoin. You made the right statement, but everyone should take their time and learn more because without knowledge, some beginners could even misplace their wallet.

I tried to start investing in bitcoins as soon as I was told that it was a step to wealth and I was directed to forum. I knew I was late already, so I did not want to waste more time to learn enough first. I realised the risk later on of wanting to invest in bitcoin without knowledge, but I was grateful to be lucky and not find myself a victim of scammers or loss. Not everyone will be as lucky as I was, so I tell people I meet now to at least try to know the best place to buy bitcoins and how to keep the bitcoins they buy safe, so they do not buy from scam sites, and safe their bitcoins in a wrong place. Those two small knowledge are okay.

If you have read through the entire ops, you would have noticed i mentioned that the beginners should have a personal bitcoin wallet, so if i already mentioned, custodial wallets what then bring the risk of sending or storing their assets onnthe wrong blockchain, this is must likely going to be the least expected risk, because as a beginner you first contact with bitcoin should be about wallets amd wallet securities because those two are your backbone and reason to hold those assets innthe first place.


So sure i already considered that possibility also to becoming the resultant risk for potential newbies, and that was properly covered in the body of the discussions.
I mean no offense but I will have used your opinion but not when I have already considered every possible risk and included whatever the newbie may need in the form of a guide in the ops.

To the newbies invest what you have so you don't worry too much when you make a mistake, this is the part of mistakes of the people too they are afraid to lose money but they want to make an investment, There no 100% success rate in investment the same like doing business so if you want to take a risk go with it to that you are willing to lose, actually you don't need to buy at least 1 BTC just to make an investment in crypto just a portion of it is enough and it's up to you what kind of strategy you will execute right there to earn more BTC could be through trade, or services as a payment method and more. Of course there's no easy money here as possible afraid of having an interaction with other people pretending to help you. Scammers is all around.

Fortunately for me, when I got to know of bitcoin as a newbie to this industry, we were encouraged to try get Bitcoins from faucets to try and familiarise ourselves how the bitcoin ecosystem works without the need to commit to buy the Bitcoins.

Today the landscape has changed, faucets are only available in some gambling platforms and other platforms that aren't as popular as they were back then and should have been the perfect place to start for those new to the world of crypto.

Today because of price,many users opt to buy altcoins and bitcoin variants as they find them cheaper and don't buy BTC as they think they need to buy a whole bitcoin, guess the fear of the unknown  puts crypto newcomers on different routes of their bitcoin journey and it's okay to go with what works for you.

It is good to hear that mate , congratulations to your first Bitcoin investment but this is way
far from newbie , some of them are looking now for instant profit and cannot wait to handle the long term that bitcoin is designed .

also Like me as Newbie , I did not invest right away instead i explore this forum first
and ask others opinion and yes asked also my Wife if we are willing to invest and risk half of our savings in which
she agreed and also yes we are now gathering profit from time of investing and each Bullrun.

As a newbie --the first investment could really be a mix of emotions and uncertainty about what we gonna do next a reason why many have fallen into the wrong investment platform, scam wallets, and the wrong way of storing them.

A good way to start investing is to invest only a small amount - the amount that we can't feel mad if we lose them. We have to stop thinking about earning fast because this will affect our emotions and decision-making. Instead, we have to think about the rewards in the future because, in this way, we are encouraging ourselves to learn how to hold and how to keep straight on our goal neglecting every day's market dumps and pumps.

The worst mistake any newbie will make in this space is jumping into buying Bitcoin without any prior knowledge about Bitcoin just like the very mistake I made back in 2017 when I saw my friends cashing out their profits not knowing that this was Bitcoin they bought and hold for few years and I thought it was something you invest today and cash out tomorrow, I tell you I really paid the price of it and I lost almost all the investment I made then. At last, we should know the basic things first before we should think of investing.

The thing you said is right many people did not even know what is bitcoin and how it works some people consider Bitcoin as a currency just like the fiat which does not have that much power to change someone's life. Bitcoin is a different currency from the rest of currencies and has huge power and efficiency to revolutionize the world. But the problem is newbies didn't know how to buy Bitcoin because they thought the price was so high that we couldn't buy a single Bitcoin but they didn't know that there is a strategy for Bitcoin. DCA is such a good strategy and fits in any individual life. It cannot be a burden on you but provides the opportunity to buy small part of Bitcoin from time to time. This strategy is best for the newbies who have the lowest percentage of loss but always provide a profit.

No, I don't think that it's going to be helpful for newbies to purchase Bitcoin without properly learning about it and it's wallets. Most of the newbies purchase Bitcoin directly from exchanges and they don't really know much about custodial wallets and save their Bitcoin on those exchanges wallets.

They don't know that they are not truly the owner of the Bitcoin that they hold in those exchanges because not your keys not your coins is something they aren't aware of properly. It's always better for such people to learn about Bitcoin, personal Bitcoin wallets, saving of private keys and seed phrases, system security if they are going to hold their Bitcoin in software wallets, and some other things before purchasing any Bitcoin.

Once they acquire that necessary knowledge about Bitcoin then they can begin with a short amount of investment into Bitcoin like $20-$50 to learn about personal wallets and the safety of their coins, when they learn those wallets software and safety of their coins then they can invest more into Bitcoin and most probably go with a cold wallet instead of hot wallet.

It's unsafe to store bitcoins on exchanges but if they are newbies, pick good centralized exchanges, they can leave their bitcoins on the exchanges. It is temporary storage place for them only, meanwhile they have to learn about non custodial wallets that are better if open source. After they complete their learning about wallets, have some practice of wallet creation, wallet recovery from backups, they have to move their bitcoin from exchange accounts to their own wallets.

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

Those are new to Bitcoin I think they will be ahead in bitcoin. There will be many people who will know about Bitcoin later but they will also include them in Bitcoin. As a newbie we should focus on knowing first. The more knowledge that can be gained about Bitcoin, he will be attracted more to Bitcoin. One cannot become a Bitcoin investor with only money. It requires adequate knowledge.

A new investor can easily gain good knowledge about bitcoin especially joining forums on how to start investing in Bitcoin and how to maintain his holdings. Also, there is a lot of discussion here on how one can increase their portfolio by keeping a certain amount of money in Bitcoins. DCA is definitely a good method for all bitcoin investors which if followed will surely give him success in Bitcoin investment. There is also a good thread on the forum Buy the Dip and HODL (https://bitcointalk.org/index.php?topic=5132720.0) for this which discusses how a new investor should hold bitcoins and the benefits of holding bitcoins for the long term.

Buying bitcoin as a newbie is good but the most important thing is for beginners to understand what they are dealing with. Most beginners don't really understand how the market is, they understand the the bitcoin market in their own perspective, that it will always favour them. Before a newbie spent his/her money to buy bitcoin it is important their is a proper understanding of bitcoin and how unpredicted the market is. No  need to rush to buy bitcoin when their is no good understanding of the market, which can later make beginners to sell in regret. Most beginners always believe buying  bitcoin profits can be gained in a short time which can be different from this.

Newbies still need a lot of education about Bitcoin how to protect their Bitcoin and also how best to speculate the Bitcoin market,  all this contributes a lot to how successful newbies will be in their journey, so saying that should outrightly buy Bitcoin at a go even though there may be time to do so, but very important to know the current market position and what the six-month market cycle has been with bitcoin.
That way the newbies will reduce their risk level and the amount of time if they are only in for the short-term gain while they keep building their knowledge as far as Bitcoin is concerned.

I won't advise investing in bitcoin without knowing it. Why should you jump on something about which you don't have proper knowledge? To know Bitcoin, you don't need too much time lately. Because of Internet connectivity, it's very easy to learn something we need. So gaining some knowledge before investing in Bitcoin is advisable. You can invest in your savings and avoid the high risk of losing your funds. If you treat Bitcoin as an investment opportunity only, then how will you learn the technical part of Bitcoin? Without knowing everything you need, you can't make the right decision in real time.

That is a risky move as you enter an investment without prior knowledge on the background of your investment, and you have no idea if that investment will really work or not.  I prefer to do more researching first and when I have sufficient knowledge on the type of investment, then that's the best time to invest and risk my money. Although I'm not saying that your strategy will not work, but based on my research, there will be higher rate of success if you know your investment well first before you decide to risk your money and time.

Everybody has a different journey down the rabbit hole. Some people buy for privacy. Some people buy for security. Some people buy to escape regressive government. Some people buy just to "get rich".

No matter what bitcoin is to you and how you choose to use it, enjoy your own journey even if that means 100% KYC and 100% third-party custody while you learn what bitcoin is and how to use it to fix your own problems. 

Some may take this advice in the wrong way, i don't blame them for having such an assumption about the ops point and the thread title is somehow misleading, but the content is very clear, which makes it easy to contribute to this topic on f discussion from multiple points of views and most especially based on personal experiences.
When you rightly jump in buying into Bitcoin without any knowledge of how the price movement market works, it becomes more risky because at that point you may likely jump in at the wrong time, maybe when the price is already high.

If you're a newbie and all you could keep getting are offers from people to draw you enter into what they themselves cannot survived going into, a newbie should not Invest on altcoins when he is still learning, nothing may come out of it than losing money in them just as you can can see examples with the past scam history from people around the world, try and learn something before doing something.

Buying Bitcoin first is a good way to start, but everyone has their own path ahead of them, begginers don't like ben told to invest in Bitcoin because they believe that they won't make a lot of money but Bitcoin is great choice for beginners because it's safer, beginners can easily lost their money investing in other coins aside from Bitcoin and since they are new they will not have the knowledge required to avoid scam projects.

I am.already seeing some people taking this advice in a wrong way, and I am not surprised, until they invest in some altcoins and they turn to scam, with the knowledge I have about altcoins I still fall victim to three scam altcoins this year, imagine that you are a beginner with just $100 on you and you invest this money on a scam project, it's over.

So this advice about going for Bitcoin first is not bad at all, altcoin investment takes some extra efforts in doing research and finding out if the project will survive or not, altcoins are generally to risk for crypto beginners, the chances of falling into scammers trap is very high bit Bitcoin isn't like that.

I don't think it is a good idea to invest or buy something you know nothing about, it will be better for an individual to have an idea on what kind of business he or she is going into and also make a research about that particular product to be able to overcome any future opportunities, crisis and problems. My opinion is for anyone who wants to invest or go into Bitcoin business to first understand or find someone to guide and explain deeply for him or she to prevent or lessen loss of money,time or being scammed because even those who are into the business
for long do loose money sometimes and are being scammed too so it will be of anyone's interest not to go into the business without being careful or having knowledge of it.

The suggestions you give are indeed doable and that's good too. However, I prefer to learn the knowledge first rather than investing the money directly. Because for me, prioritizing learning knowledge when investing in Bitcoin is the first step and foundation that must be prioritized. Because if you haven't learned the knowledge, how can you know how to buy it, how to choose a safe market, and how to choose a safer wallet. So in my opinion knowledge is very important and must be prioritized. So don't be too hasty in investing in Bitcoin. However, the most important thing is to first understand the science and systems within it. So when you want to make a purchase to invest it will definitely be safer and far from fraud.

I will not advice newbies to buy Bitcoin without having the knowledge of how Bitcoin work to favour investors in the community. There are many newbies in the community experiencing some pain, because they failed to learned Bitcoin before using huge amount of money to invest in Bitcoin and misplaced the seeds phrase of their wallets and the phone that carry the wallet was stolen, and all the money went, because he refused to learn many things about Bitcoin and cryptocurrency. Start with small amount of money as a newbies, is advisable because it will help you to know so many things that will make you understand how bullish season look like for investors to make a good income, and how bearish season look like for investors to buy and hold for future purpose.

Boss that can not help us as a newbies that haven't yet have any idea about bitcoin, i use my self as an example that can not help me because as a    newbie that i am i don't think i have gotten too much ideas about bitcoin, but i just hope that one day i will also find my sef in a position of a Legendary.

Always need to know about bitcoin, there are many methods to learn about bitcoin, such as DCA method, from this method we can gain a lot of knowledge about bitcoin, we get a lot of idea about bitcoin, and it gives good education about profit and loss of investment in bitcoin. Apart from this method there are many other methods from which we can collect many important information about Bitcoin. We should always know about Bitcoin. So we can make a lot of profit by doing it better in Bitcoin.

I agree with you. Although Bitcoin investment is quite safe investment, but having sufficient knowledge is a must for the security purpose. If newbies have no enough knowledge, they only guess everything about their Bitcoin investment. They don't know how to keep the Bitcoin in a safe way in the wallets, they don't understand how to set a target for taking profits, and they probably don't follow the current update about Bitcoin issues/news. It will be a risky investment, there is a big chance to lose money in this careless way.

Of course, when we are newbies, just start with small funds. It is because newbies probably don't understand enough about the investment. Only use bigger funds when we already assume that we know well everything about Bitcoin investment and crypto as a whole. It is not only about understanding bullish-bearish, but understanding anything about crypto market as well.

Bitcoin is the best and least risky crypto in this industry but you need to understand that everyone is not looking for a safe investment asset. I think many people were amazed by the ROI made by bitcoin for the early investors who bought it when it was super cheap. Now many new people think they can find a new project that can give them a similar ROI or at least a fraction of it within a few years. I think this led them to invest in projects outside of bitcoin even though they have a high level of risk.

Bitcoin's pretty solid, I'll give it that.  But c'mon, not everyone wants something so, I dunno boring? Big returns tempt people, even if its super risky and  like when you hear your cousin's friend's wife scored crazy profits just by investing in 'DingusCoin at the right time or whatever.  Gets the imagination going, y'know?

But those are all flukes.  For every hail mary investment win, there's probably a hundred soul crushing defeats and lost wallets.  Wisest thing is stick with semi-stable stuff mostly.  Chasing pipe dreams ain't all its cracked up to be in the end.  People forget that.

it's true that all you say, there are many reasons for people to buy bitcoin, and the average reason people invest in bitcoin are to protect their money from inflation and secure their assets from government monitoring, regardless of whatever reason someone invests in Bitcoin.  Bitcoin will always provide huge profits to anyone, especially for those who make it a long -term investment.  Never think that Bitcoin is dangerous, usually people who are contaminated from the news of Bitcoin FUD will always be like this.

Your right. For a pleb like me. I need more research and findings that will help me manage my investmet. I do not plan to loose the little money i have and put in Bitcoin when i have low expereince. The worst part is that, i still have strong emotions attached, if i lose money because of investemnt. Nevertheless, am willing to invest now, but since i cant manage my investment for now. Ill meet my freinds qho are already good in it to guide me or manage the investment for me.

Knowledge is profitable in anything you are doing and, if you don't have the knowledge of cryptocurrency don't invest your money until you acquire the knowledge before taking a good step as a newbies to invest and hodl for the bull season to come before you can sell. Carry out your research is part of the knowledge we are talking about here because, that research will help you to know so many things that will make you to make a right decision to invest in a potential coins that will bring you double profits at the end.

I don't think I can put my money on any business without having the idea or knowledge about the business, but if any newbies try such a thing to invest money on cryptocurrency  without acquiring the knowledge, it will make such person that took such steps to go through a lot of things that will make him feel that the business is a scam business like the way some newbies who don't have the knowledge of BTC are calling BTC a scam currency because they failed to learned the use of BTC.

Absolutely! Starting in the crypto world, it's smart for newbies to grab some basic knowledge first. Since crypto moves fast, diving in early while learning on the go is key for success. Think of it as riding a bike, you learn by doing. Using a gradual approach like Dollar-Cost Averaging (DCA) lets you invest while steadily gaining expertise. Now, choosing Bitcoin as a first investment is like picking a sturdy bike to learn on, it's relatively safe, not too wild in its ups and downs. It's a solid starting point for newcomers to dip their toes into the exciting waters of crypto.

Hypes projects are an example that makes many investors search for other projects that will turn into hypes. Honestly, what happened to meme coins brought something different, especially for the newcomers. They will think that investing in crypto is an easy game and instant rich until the time has come that they will know the truth behind those huge earnings and ROI. And that is also the time they will find out that Bitcoin is far better than these hype projects. Not just because of its use case but also, because of its profit potential in the long term.

For trading, maybe the method you mean is quite good. but for investment, this method is not appropriate.
there is a strong psychological aspect that an investor must have. if a beginner is without good emotional control and faces a surprising market situation, it will only bring panic. gather all the knowledge and experience, and just get started. experiences are not only those that we experience but those that other people experience that we can also take as experience.
after truly understanding how to invest in crypto. start gradually, and it will get better.

Buying Bitcoin as a newbie might not be a bad way to start as a person who is knowledgeable enough with out knowing much about Bitcoin might still  know how to handle the buying and holding system. Being knowledgeable, you should know how to handle and secure your phrase and keys because that alone can give you access to your Bitcoin not everything you wait to be thought or read books and magazines or either learn from the internet, it works with common sense.
The only problem the person might face is knowing when to buy and the strategy to apply when trying to buy, as being a newbie who owns Bitcoin if the person might not have understand the volatile nature of Bitcoin and with a little dip the person might want to panic and sell off.
But with time if the person is always inquisitive to learn he would not make the mistake to sell but instead keep holding

It can be a good decision to buy Bitcoin as a newbie. Because I first came to know about Bitcoin since 2019, when I was in high school. At that time I invested my stipend money after learning about bitcoin investment from my elder brother. Although it was a very small amount, I benefited.  Investing in small scale as a bitcoin newbie can give you inspiration in the future. Because I myself have benefited from it. And I feel very excited to invest in the future

OP isnt a newbie just as @Zaguru12 has said. He may be newbie in the forum then but has gotten enough knowledge from someone about how Bitcoin works. Most newbies doesn't have knowledge about exchange and some even do anyhow with their keys. Just like OP has said, it's a nice idea starting with Bitcoin as a newbie but you need little if not much about Bitcoin to get started so that you won't be risky your hard earn money on something you know nothing about.

Just seeing this replies now, and you are right, at the time of creating this thread, i was still a newbie, both in the forum and in crypto currency and from that time till now there have been big difference in the level of my knowledge and experience in the crypto currency industry a d for that i have better knowledge and understanding on the best way to effectively invest in Bitcoin as a newbie, there is no gain saying that Bitcoin is the most secured investment start-up for newbies and i don't regret my earlier thought on owning your first sats before gaining the knowledge and in the context at which i make that statement in in the fact that owning your first Bitcoin is already a basic knowledge in itself which can give you enough time to take the slow solid steps along the ways since you are investing on a long terms perspective.

When i say first buy you Bitcoin before gaining the know, what i mean is the secondary knowledge on Bitcoin investment such as DCA and trading or all the other profits making features that comes along with Bitcoin investment, that require additional knowledge aside just holding in you own wallet which is a primary step in Bitcoin.

Well I think from my POV, you don't actually have to be a newbie for you to fall under the category of person actually doing such stupid acts. Sometimes one can let guard down and eventually do all sort of nonsense even the ones they know fully well that can isn't worth doing. But mainly if you are lacking basic knowledge then investment on something you don't know about is as crazy as actually giving someone your money for free because you never can tell the risk involvement and how legit the project is.

I don't think it is a good idea for someone to invest or buy Bitcoin when he or she knows nothing or have an idea about it, it is very important for an investor to know a lot about what he or she want to purchase for the purpose of knowing how to tackle any obstacles that come in the future. And also it might be the wrong time to buy Bitcoin because just like any other coins there is a particular time that the price and value of Bitcoin is not stable and can't be predicted when it will add or loose value.. So advisably It is preferable to first understand and make research about Bitcoin before embarking on purchasing or investing in it.

Navigated the crypto world require the newbies to acquire fundamental knowledges, and a proactive learning approach is crucial given the fast-paced nature of the market.. Comparing Bitcoin to a sturdy bike for beginners, the analogy highlights its relative stability and suitability for those new to the crypto space . The strategy of Dollar Cost Averaging (DCA) is advocated as a wise investment method , allowing individuals to invest steadily while acquiring valuable insights.
     

This is one of the biggest mistakes when you start doing something you don’t understand. How can you get behind the wheel if you don’t know how to drive? It seems obvious to everyone, because it will lead to an accident. The same thing will happen if you start investing or trading without the proper knowledge, you will simply lose money. Learning something takes time, sometimes it can take a year or more, it’s different for everyone, but it’s not something to be taken lightly, especially when it comes to your money that you’ve been saving for a long time.

OP you are right I agree with you because if a newbie starts investment journey with small amount of bitcoins then surely he will know all the tricks of investment with his small amount of bitcoins. Because new investors don't know how to hold the investment so in this case if a new investor starts investing with a small amount of Bitcoin then the investment path will be much easier for him later. He will understand how to save wallet, how to hold, how to increase investment in DCA method. People do not learn everything at once so everything has to be learned slowly.

The best thing a beginner in cryptocurrency investment especially Bitcoin can do is to learn the procedures of Bitcoin and the understand the concept of Bitcoin fully before going into the investment because when you have not understand fully the concept or the basics of Bitcoin you will not be able to make a profit because you might invest in the wrong time and it will lead you to lose for the investment. Many people today who is into cryptocurrency investment do understand the concept before they purchase a Bitcoin currently some people examine the procedures and also know the chat of Bitcoin through the moment of the candlesticks before they come purchase for long time investment

So I was speaking with a few of my mentees today and while we were talking I discovered one of them had a spear cash at hand and was looking to where to put the money for long-term savings, I talked with him and later made him to understand the importance of buying Bitcoin at a discounted price, because right now bitcoin is at it discounted price and at that will continue to gain the right momentum to sustain the market for a long term gain.


For anyone who is looking to how best to ver in, now is one of the best times to gain that entry profits,  because in the next couple of months from now, the Bitcoin network is going to undergo a network half which will reduce the total Bitcoin reward per block which is going to trigger scarcity in the price of bitcoin.

Op did you also learn the subject or course you studied in school at home before study it in school or are you a college certificate holder? I hope you understand this my one line sentence perfectly? All why I mean did you study before you go to school? Definitely not. Op I must tell you, you must learn before investing and if not you will enter into scammers hand for them to use you to shine first before your eyes will open.

How can you invest in bitcoin without knowing the basic knowledge of Opening wallet and buying and selling of bitcoin and how bitcoin works. Op your story is not really clear for me.

The best decision is for a newbie to take is to start cryptocurrency investment with bitcoin because bitcoin is more reliable and the risk involved in investing bitcoin compare to other cryptocurrencies is very low. The reason why beginners must choose bitcoin as investment is because bitcoin leads in the cryptocurrency market, and this will be a good start for  beginners to use experience and knowledge of bitcoin to go about other investment.

Other cryptocurrencies are very risky when it's compare to bitcoin and because of how many altcoins in the market are not reliable it will be better for beginners to invest in bitcoin to secure their money and invest in something that is safer, after getting more experience and knowledge about the market they can choose to add some altcoins to their portfolio based on research .

Investing your money on Bitcoin without acquiring the basics knowledge of Bitcoin before taking such risk, it can lead you to lose your money to scammers that will make you to avoid such investment in the community without knowing that you're in the right investment just that you lack basic  knowledge of Bitcoin. I think, the OP is trying to advice the newbies to have little knowledge of cryptocurrency before taking a step to buy and hold to see what will come out from it when the bullish season appear. But if you advice newbies to start investing money on cryptocurrency without little knowledge of cryptocurrency,  it will make such newbies that will take your advice to regret for the wrong advice given to them.

In terms of learning you don't have to spend a whole month learning bitcoin and still you've not gotten any knowledge or idea on how bitcoin works, learning is a gradual process and if taken serious you'll know how to buy your first coin and safeguard the coin within a twinkling of an eye, this are the common reasons why people learn faster than some. I believe this forum was created for newbies and everyone to learn about bitcoin so if anyone is in this forum for months and still don't know how bitcoin works then the person is not even serious to learn.
Buy little and hold as a newbie not minding the profit or the price but focus more on learning, I think the op is trying to make an example like practice makes perfect, you don't need to buy huge as a newbie first or rather no newbie should be expected to buy aggressively.

Dear investing in Bitcoin is not a big matter rather surviving here safely in the crypto space matter more, and as you are conveying your message to the OP if he/she has insufficient knowledge in the world of cryptocurrency it can prove more dangerous for him/her as there are alot of scammers are waiting for those newbies mistake or foolishness to trap them easily. So, best to educate first yourself to survive in the crypto world from scammers. Scammers are good players and they know how to trap newbies their one foolishness can be proven a total washout for themselves.

But one thing should be thinking that Bitcoin is not a short-term trade, it is a long-term trade, because if you Check its forecast chart, it will be in the middle of 2019 and 20. Where was it?it was around 65k then if you check the history of 2022 then it was under 30k i.e. how much loss was it for those who have little investment but who have more investment more they would be happy, they even wait for it, that is, those who waited for it are very lucky, but those who lost the amount, i.e. the investment was broken, because they would panic. They have already sold it.
Now again we see a big pump in bitcoin upto halving in April.

Your advice is quite reasonable. Starting with a small investment in Bitcoin, learning the basics of security, keeping your keys safe, and gradually expanding your knowledge along the way is a sound approach for beginners. It will also allow you to think in long-term strategy and market understanding.

I fondly remember the time when I had a lot of money and I used to spend a lot of money but I didn't have a good platform nor did anyone tell me that there was such a coin. Which later will be very expensive.

If I had known about this thing at that time, I would have saved every single money and bought Bitcoin. That is, our trend was not in this direction, our trend towards digital currency was only that we should make an investment in which all of us would have benefited, but we did not do that at that time, which we are very missing a lot of benefit.

The same thing reflects to my mind why I did not buy Bitcoin when it was trading at a very low price which maybe due to less popularity of this currency well no matter as there is a famous saying everything has the right time when it comes to your life so no matter if we are still late.

Now if you have accumulated at the good average price it can still return a good amount of profit So do not worry dear hope for the best we can still generate good profits. ;)

Information is power. One of the easiest way to be wealthy is to get the right information at the right time. Just discussing similar issue with a friend recently. I was duped some money 4 years ago, if I had known about BTC then and I have invested the money on BTC, I will have made a good profit by now. But the information never comes. How good it is to get the right information at the right time.

Such a regret not only you but all of us have because we spent a lot of money in various ways before we came to this forum and came to know about Bitcoin. But when we started to understand about this forum we started regretting why we didn't invest that spent money in Bitcoin. @odunybiz You didn't know about Bitcoin back then and didn't buy Bitcoin which you regret now. Now that you know and understand about Bitcoin, you should invest in Bitcoin now. There are a lot of people who wait until the price of bitcoin drops to start buying and investing in bitcoins, I think they make the wrong decision.Bitcoins can be purchased whenever there is a desire to invest.

I don't need to wait for the dip anymore before I buy my favorite coin/token. This is part of the lesson I have learnt in the space. No one can ever know the lowest dip or highest high of any coin. It is the best practice to buy your favorite coin using DCA.

Acquiring knowledge should be given high priority first before taking risk on an investment. How would you know that you are making the right investment and that you are risking your funds over those potential coins if you don’t have even basic knowledge in the first place. Be knowledgeable at first, so that if ever your investment does not work out based on plan, then you can make some back ups to prevent your funds from losing too much.

Not just in investing or trading, but definitely in all aspects of our lives, knowledge should serve as the foundation. Build it first before you set yourself looking for financial gains.

I bought some Bitcoin and Ethereum. Although, so many other coins are gaining my attention. But I'm looking for cheaper ones apart from Bitcoin and ETH.
I feel like having these two for now will give me rest of mind than the others.

Cheaper coins don't mean they are cheap in risk and benefit analysis. You can buy other cryptocurrencies with cheaper prices but if those prices are over valued of their intrinsic values, you are doing bad investment.

Cheap or expensive, it must be taken into account with those cryptocurrencies' use cases, utilities and their project roadmaps. If they are bad projects, you can buy a cryptocurrency at price like 1 cent but it is still expensive because eventually you will lose all your capital when that project is dead.

Dead Coins: Over 50% of Cryptocurrencies Have Failed (https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed).

Money saving is a common strategy, for all and as a newbie who gradually knowing about Bitcoin through this forum. savings and holding is normal matter. Initial stage some problem like blockchain related knowledge can be facing that time should be use non custodial wallet. I think one of the newbie who have enough stamina and wish a bright future "Bitcoin holding" is the perfect strategies for him.

Bitcoin is one of the Cryptocurrency that's future is so bright, patience and the mentality of forward he will be big gain in life. There will be volatility in the market and the strategy of DCA is the best not only BTC's but also for all financial sectors. There is no need to fear that the price may decrease or increase, just trying to buy proper time.

Many people including myself knows bitcoin through Ponzi scheme, they ask people to deposit bitcoin to earn more bitcoin, it was how I first heard the name bitcoin and my curiosity attitude won't let me rest until, until I found out that Bitcoin is the right one for me.

So my dear, everyone won't get to know Bitcoin in your own way, stories will be different, path will be different, fate will also be different.

The only advice I have for newbies is to accept that they know nothing when they start to read about bitcoin, they must have the patience to start reading and gaining more knowledge about bitcoin, it's not going to be a straight journey but learning will get you there than trying to rush things up, Bitcoin is far more reliable than other digital currencies out there.

As a newbie to Crypto I have brought a couple of coins but am slowly learning about crypto and have much lot to learn. I may have followed the same strategy as the OP but do not believe this is for everyone. I don't believe there is a right or wrong way, 1 thing is paramount though we all have to learn.

Everyone cannot make use of the same strategies of investment in Bitcoin at least you have for your own derivation of investing in Bitcoin so shall another person have it on derivation in cryptocurrency especially Bitcoin so therefore I believe that they only option you can take to invest in Bitcoin is when you have learned the procedures or the strategies of Bitcoin properly before you invest

Most times we do not need to rush and invest in bitcoin using the techniques someone has used other than the techniques that suits you most, like for instance when someone is using method Z that doesn't mean that the next person should that same method rather should learn carefully on what he is going to invest before finally taking the bold steps to invest into it. But often time people do not want to study things carefully before they delve into it to make investment, if they understands what they are into then I will say it will be very easier for them to understand more better and knows how to follow it up without any lost although it's no one is expert in bitcoin price and investments.

It has been discussed often times in this session that the Best way to Start as a beginner or a newbie is to buy and hodl before seeking for proper knowledge and orientation on how to go about Bitcoin investment because the more you're waiting to acquire all the knowledge needed to facilitate your investment in Bitcoin, that's how the price keeps skyrocketing and it can get to a stage where you would feel that the price has gotten to an unaffordable price as a newbie thereby you may not have the zeal to buy at that high price.

Moreover, the best way of learning is by practicing, so you can't seek for knowledge about Bitcoin when you don't even have any Bitcoin in your wallets because acquiring some Bitcoin before having a proper knowledge and understanding would actually acquaint your zeal to focus on best investment practices that would facilitate your Bitcoin journey.

I know a lot of people talk about Bitcoin and I know it's the safest to invest in. Other altcoins can be given a try. because they are called alternatives. If you do have money for Bitcoin, you should be able to afford some altcoins. Aside from Bitcoin,  even Elon gave Dodge a try and he has been an influencer Anything he does will have an effect on the price of Dodge, being the icon he is, so altcoins are not that bad and the way some altcoins have x will surprise. so you can give both Bitcoin and altcoins a chance.

Anything you are doing has to be according to your capacity, If you cannot afford Bitcoin and ETH, you can go for the cheaper ones because once the bull run is here, every other coin will be affected and that is one of the benefits I love about having crypto. if you are the serious type, you will make a profit. From what is happening now, I am learning that this is the first time I have wanted to experience a bull run and that is something I would love to be part of just because of that benefit.

The risk you took back then OP, I don't think there are newbies here who can take such risk in this time because, people have make it easy for Many newbies to learn from this Bitcointalk.org before reason on how to invest in BTC and, it's really working for many newbies that achieved the skills before investing in BTC.

 It take me long months before I was able to approach the market to buy little BTC to test my first investment and, it was massive to me to win something big when the price of BTC hit higher last 3 years and is giving me courage to continue to invest in BTC during the bear season.

Your post looks a bit misleading to newbies,yes we all know it's right to invest on Bitcoin but as for those that doesn't have any knowledge about Bitcoin before investing it's a wrong start.Whatever investment you'd want to get into it's best you acquire knowledge before thinking of taking the next move.Just in the cause of Bitcoin every beginner ought to know that the market is volatile in nature so that if there is a dip in price it wouldn't sound or look strange to the beginner who has the intention of investing in Bitcoin.Acquiring knowledge should be the first start before accumulating,and there is nothing too big or small to accumulate you just have to accumulate with the DCA strategy.

Actually I don't think is advisable for someone to invest before learning, is very risky what if you're holding the wrong one maybe after acquiring the whole knowledge about crypto investment then you realize that you invested on the wrong coin what will you do? That is why is very good to have the knowledge about bitcoin investment before looking out to invest. However advising a newbie to invest before learning I think is not advisable, for the fact that this method favoured you does not mean that is going to favour others so you don't have to give such advice, most of the newbie after reading this thread they can decide to do exactly what you said thinking that is a nice idea because they don't know how the market is.

I am sure that majority's of those that will invest in bitcoin will first of all understand the risk that comes with bitcoin investment and how important it is to have a long-term view towards bitcoin, and also how not to gamble around with high rank volitile assets like altcoins.


Also with the fact that having adequate knowledge and understanding will help you as an investor to make better choices and bitcoin can give you the chance to learn along.