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Depending on the children's ages, if they have matured a bit, have had some exposure to life, and are possibly able to operate and use the internet, you can teach them a lot about Bitcoin so that they can handle the private key on their own. After teaching them, you might as well create separate wallets for each of them so that you can send each of them their respective shares so that they both have access to them. But its not wise to teach them before they get of age so it won’t be a distraction to them and their studies.
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A thought came over me while spending my BTC. Although I was wondering if members have had that experience and too how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?
I've experienced this firsthand, and it's the worst time to make a decision as a Bitcoin holder. However, now that Bitcoin has replaced fiat as our preferred currency, we understand why we keep bitcoin. The worst possible outcome is when you sell for significantly less than you paid for it, but one of the best things to do is to develop additional streams of income. |
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A payment can be made using bitcoin. However in your situation, where not many people are familiar with bitcoin, I advise you to continue sending payments as usual without first introducing bitcoin to anyone. Maybe individuals who are used to using traditional payment methods still find bitcoin challenging. Hence, it appears that they will not be interested at all even if you go into greater depth regarding bitcoin. Although it is a challenge for you, this is not the time or place to explain bitcoin.
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Without emotional control, trading will undoubtedly fail because emotions have a manipulative effect on our thinking and can result in poor conclusions. Due to their too emotional nature, many traders that came only failed and placed the responsibility on themselves. I'll admit that occasionally I have trouble controlling my emotions and it had cost me alot, sometimes you can't help it but let the emotions get in the way. When trading Bitcoin or any other cryptocurrency we should never let our emotions get in the way no matter what.
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Starting to invest in bitcoin is never too late. You are not alone in your interest in the cryptocurrency market in fact, many individuals are still learning about it and getting active in it. It is true that cryptocurrency saw a rise in popularity during the epidemic because that is how they were intended to function as an alternative to fiat-based digital payment transactions. I want to let you know that investing in cryptocurrencies can be a rewarding experience. With the right strategy and information, you can navigate the market and possibly generate a profit from your investment. Don't be afraid to begin learning more about it and investigating the opportunities that cryptocurrencies might provide.
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Only Few people are familiar with it and not everyone have the access to utilize and operate it. Many people have never heard of it. And all of Play a role in making bitcoin known to others who don't know about it yet we should be take advantage of the chance because it won't be as plentiful as it is now once more people are aware of it.
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if your friend enjoys Bitcoin, that would be the best choice. Giving your friend Bitcoin instead of something else will, in my opinion, make them very happy. how you want to surprise your friend will still be a factor. Yet, it would still be a fantastic surprise for me if someone gave me Bitcoin when I was trying Earn more of it. Bitcoin is the most valuable cryptocurrency and gifting someone something of that value will surely make them happy.
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When it comes to trading, you must have the necessary skills. If you can do it, it doesn't matter if you also engage in investing. However, keep in mind that there are a number of correct and organized trading strategies, which is what novices should be aware of. But generally speaking, newbies should stick onto their bitcoin.
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Bitcoin is a good investment for first-time cryptocurrency investors, especially if you want to hold the asset for a long time. because Bitcoin is safer and more dependable than alternative currencies. You made the right decision by remaining loyal to Bitcoin. Diversifying your portfolio is not a terrible idea, but only if you are knowledgeable about the cryptocurrency industry as a whole and aware of the things to look for in potential altcoin investments.
Altcoins can also yield enormous profits, but finding the legit ones can be challenging. Even skilled investors struggle to find such coins since extensive digging is required.
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You should have a solid understanding of trading first as you claimed to be a complete novice. To start with, you may get a ton of relevant information on various social media platforms where trading is nicely discussed. Without a thorough understanding of trading, you will undoubtedly experience losses. because trading involves a great deal of risk. After weighing the full circumstances, you must make a decision.
To trade you must be ready to in any loss encountered on the way and use it as an experience for the future.
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familiarity with cryptocurrencies, specifically trading Given that I prefer investing over trading, I'm still relatively unskilled. I don't trade much, so I don't have a specific approach, but of course I am aware of the proper procedure. Although I don't like trading right now, I never know whether I'll do it again. I'll ensure that I've learned a lot before I get started.
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Whatever the reason, you should always exercise caution while communicating with someone online because there are numerous frauds operating that use a variety of techniques you might not even be aware of. There are still a lot of beginners who fall victim for this kind of tactics but I don’t seem to understand where the scamming is coming from the coversation. Thus, always be on the lookout and inquire from reliable sources as to whether they are legitimate or scam tactics.
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Do you believe it's a good idea to persuade an elderly person about risky things considering that your senior dad is already 79 years old? What happens if the price of Bitcoin continues to fall? Given his age, are you certain it won't affect his health negatively? When inviting someone to invest in Bitcoin, you need to know what you're doing and whether it's safe for them.
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Since you will be compelled to learn more and try different strategies in order to gain profit, it originated from a loss. Typically, beginners learn from their mistakes, which is what improves them. Losing early on is fairly common, so you shouldn't let it discourage you. Instead, keep learning so that you can perform better on your subsequent trades. It will be harder for you to manage this negative emotion and turn it into something positive.
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Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.
My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?
I believe that YouTube lectures are sufficient for beginners who wish to begin trading. Avoid pricey courses because, in my opinion, if someone has a trick or a special technique that can help them make money from a deal, they won't need to offer courses to make money. Instead of using money to purchase courses, use it to get some trading experience instead. You will learn more about trading as a result. |
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How do you guys like to explain bitcoin?
I'd just make it simple and go on to explain that bitcoin serves as the equivalent of fiat currency for online transactions. But, the people who buy and sell it around the world determine its worth. The government is not able to exert control, unlike fiat. I'll tell them it can grow value and reduce value with time due to some certain factors. And that they can invest and if they are lucky enough it might give them double of their investment but then they should only invest money that they can afford to lose. |
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Bitcoin as we know is cryptocurrency which rise and fall in the digital crypto market. Bitcoin has a trend over other cryptocurrency in the sense that Bitcoin is the leading cryptocurrency in the world digital crypto market. Over the year we find out that those in invested in Bitcoin benefits greatly which make a lot of investors to key into cryptocurrency. But despite that Bitcoin diminish but that doesn't mean it the end of Bitcoin. Recently Bitcoin has been tend to high value on like others cryptocurrency that remains or increase in a little bit. So I urge every one that now is the best to buy Bitcoin as it trend to increase in no distance time.
Charts over the years show that Bitcoin has always stood out from the other cryptocurrencies, and that it has had a significant impact on the others. It is the forerunner of all other cryptocurrencies, and while it has ups and downs like any other coin, others imitate it when it does. The possibility of bitcoin rising again after a decline is extremely real, but not all other cryptocurrencies that decline will always have the ability to surpass their all-time high. Purchase bitcoin, put money into it, and hold onto it for a while. You'll be able to enjoy your savings in a few years when, as many predict, there will be another bull run. |
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Investing in cryptocurrency can be thrilling, but many inexperienced investors make basic errors because they are so excited about the profit people make from trading cryptocurrencies that they believe they can ignore the small precautions and guidelines, resulting in the loss of some or all of their assets. So this post aims to increase knowledge among crypto novices so as to prepare and prevent them from repeating the same errors that have been made previously. The mistakes are as follows:
-Lack of Basic Crypto Knowledge: Some people are drawn to cryptocurrency because of the excitement and profits associated with it. As a result, people become obsessed with making money and fail to understand how it works. Without the proper understanding, you run the risk of losing your assets quickly.
-Inadequate password and seed phrase storage: A backup phrase known as the seed phrase is necessary to gain access to digital wallets where cryptocurrency is stored. These backup phrases must be correctly maintained since if they are lost or forgotten, you will be unable to access your assets or recover your bitcoin. To prevent asset theft, keep them in a location that only you have access to and that is not too hidden so that you can readily find them. You can preserve your seed phrase physically so you don't lose it or forget where it is.
-Ignoring Fees: Many people who are new to using crypto exchanges have no understanding how the gas fee works, they simply purchase it and end up losing a significant amount of money over time. You can save money by discovering the lowest-cost exchange and selecting the most effective method of purchasing cryptocurrency. While looking for exchange that offers low fees it is also important to consider the reputation of the exchange. Sometimes it’s better to use exchange with good reputation even when fee is high.
-Keeping Crypto in Online Wallets: Keeping your cryptocurrency in exchanges or online wallets does not provide complete protection and is easily compromised. Because online wallets do not provide the same level of security as offline wallets, it is preferable to keep your valuables in an offline wallet.
-Getting Scammed: Cryptocurrency users have now become a target for cyber criminals and scammers, the rate at which people are conned online is getting out of hand. These criminals employ a variety of strategies, so I urge everyone especially newcomers to use caution when interacting with others online and avoid falling for their cunning tricks and fake promises. Never share any personal information and never connect your crypto wallet to any untrusted applications.
Finally, I advise my fellow newbies to never overlook minor details that they may believe are insignificant, as they may be the deciding factor in their crypto adventure's success or failure.
Anyone can fall prey to fraudsters because they are continually coming up with new strategies and these scammers mainly target beginners because they are can be easily manipulated due to their lack of knowledge of Cryptocurrency. Your first point is the main reason why newbie usually fall victim to scams. Anyone with proper knowledge of Crypto should know the dos and don'ts of Crypto and how to avoid it. |
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My opinion, Bitcoin all time saving mode is the best way. Some time when bitcoin price up then sell and when price down then buy is the best decision. This method all time not working for trade. Many time i noticed when i sell bitcoin or altcoin sell since then price grow up and up. And when I buy bitcoin or altcoin then price low day by day. specialy, altcoin hold, sell and trade big loss. 4 years ago few coins i hold for future. now this coin price few value or most of coin value is zero. Few coin trade, there too big loss. past year in the case of 1 coin invest $1000, this coin price today zero.
Now
*Hold
*Sell
*Trade
Looking forward to the opinion of the experienced.
Its best to buy when price is low and sell when price is high but it does not usually happen that way at times you will buy and the price will keep falling so i still continue to buy and wait till price bounces back. When you invest in altcoins there is bigger risk involved than investing in bitcoin, altcoins are not reliable and most projects just die off. I advise you spend your money more on Bitcoin and few alts that are already well established like Ethereum and the likes. |
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