what are the things to consider in your 1st bitcoin investment?

[matrixjohn]

Hi all experienced people in this forum, kindly give me advice how to succeed in my 1st bitcoin investment.

I am planning to buy my first bitcoin. my plan is to hold it until the bitcoin price become more higher this coming month or year.

I bit worried because the money that I will used to buy my first bitcoin will come from saving that I earned for how many years of working.

Kindly help me what are the things that I need to do or consider in order for me to succeed in my 1st bitcoin investment.

Since you guys are more experienced in this business, kindly give me advice that will help me to decide and boost my confidence.


Best regards,

Note: Your suggestions/advice will be highly appreciated friends!
 

[Don Pedro Dinero]

If you are going to invest your savings in bitcoin, I hope they are not all your savings. Bitcoin is a highly volatile investment, and nothing can guarantee you that it’s not going to go down in price and stay there some years, as it already happened.

If I were you I wouldn’t spend more than 25% of what you have saved in bitcoin. In the meantime, read a lot and participate in the forum. You can learn ways to earn bitcoin, so you don’t need to risk all your savings.

[HabBear]

You should buy as much as you can between now and November 15th.

On November 16th there will be a hard fork that creates a new version of Bitcoin (in an attempt to strengthen what Bitcoin, make it more capable of scaling with transaction sizes and volume). To get existing Bitcoin owners to consider using the new coin developers will be granting the new coins to you and others in an amount equal to what you own on November 16th.

You can keep this new coin or trade back into Bitcoin (or something else).

Aside from that, we're experiencing a 10% pull back from recent highs so the price is a bit on sale.

Tips? Don't be fearful if you buy today and the price goes down tomorrow. You have to be willing to ride out the swings for a while. Give yourself a 6 month or 1 year holding time frame if you can.

[edynolan]

If you want to invest with bitcoin I suggest do not panic when the price goes down (do not sell your coins but hold it until the price returns to normal), usually the first person who invests his money will panic and sell all his money to not too lose. I hope you are lucky for your first investment

[Squidoogeek]

The first rule of investing your own money in bitcoin is to never invest more than you feel comfortable losing. The second rule is to not panic if the price drops after you buy. (It's likely to given the current environment.) The third rule is to tell no one that you are investing in bitcoin or cryptocurrencies of any sort -- not your friends, not your family, not your nosy neighbor, not even your pets if you have them. And the reason I added the third rule is that you mustn't give anyone any reason to suspect that you have bitcoin because that can be turned against you if you are ever accused of a crime of any sort or are audited by the tax collectors. (And you don't even need to be guilty in order to be accused of a crime. There's plenty of people who were falsely accused and even convicted of crimes they never committed. Your job is to shield yourself by minimizing the chance that your involvement in bitcoin can be used against you in court.)

[Terry05]

Hi all experienced people in this forum, kindly give me advice how to succeed in my 1st bitcoin investment.

I am planning to buy my first bitcoin. my plan is to hold it until the bitcoin price become more higher this coming month or year.

I bit worried because the money that I will used to buy my first bitcoin will come from saving that I earned for how many years of working.

Kindly help me what are the things that I need to do or consider in order for me to succeed in my 1st bitcoin investment.

Since you guys are more experienced in this business, kindly give me advice that will help me to decide and boost my confidence.


Best regards,

Note: Your suggestions/advice will be highly appreciated friends!
 

I in my own opinion the first thing you need to consider are:

1. Make sure you have secured bitcoin wallet
2. Conduct query, research or reading to gain information's regarding bitcoin since you're a newbhie
3. Check the bitcoin price /market status before buying bitcoin. buy when the bitcoin experienced a price drop, but you have to wait for that.
4. Don't invest all your saving to bitcoin because the price is volatile, meaning we don't have assurance of 100% success or profit all the time.
5. Monitor your profit or loss everyday so that you can make good decision with your bitcoin investment if there's sudden changes of bitcoin price. but I suggest to wait and stay calm.

[KenChanYu]

Hi all experienced people in this forum, kindly give me advice how to succeed in my 1st bitcoin investment.

I am planning to buy my first bitcoin. my plan is to hold it until the bitcoin price become more higher this coming month or year.

I bit worried because the money that I will used to buy my first bitcoin will come from saving that I earned for how many years of working.

Kindly help me what are the things that I need to do or consider in order for me to succeed in my 1st bitcoin investment.

Since you guys are more experienced in this business, kindly give me advice that will help me to decide and boost my confidence.


Best regards,

Note: Your suggestions/advice will be highly appreciated friends!
 

I in my own opinion the first thing you need to consider are:

1. Make sure you have secured bitcoin wallet
2. Conduct query, research or reading to gain information's regarding bitcoin since you're a newbhie
3. Check the bitcoin price /market status before buying bitcoin. buy when the bitcoin experienced a price drop, but you have to wait for that.
4. Don't invest all your saving to bitcoin because the price is volatile, meaning we don't have assurance of 100% success or profit all the time.
5. Monitor your profit or loss everyday so that you can make good decision with your bitcoin investment if there's sudden changes of bitcoin price. but I suggest to wait and stay calm.

well i think the things to be considered on the first  bitcoin investment is the small profit or maybe there is no profit or if ever you may lost an amount that was really the things to be considered .because you are really prone on that thing called looses in you first investment considering the fact that you are on the stage of learning some of the best way to gain in terms of investment gou will really experience some difficult situation to be solve.so then if you really want to invest you must be ready.

[romecheo]

Before you put your saving to Bitcoin. It is your responsibility to give your time and study everything your need to know.

1: What you need to consider before and after buying Bitcoin.

2: What is necessary to do when Bitcoin value was falling.

3: What may happen if there's incoming Bitcoin fork and why.

4: How can you withdraw/exchange your Bitcoin into fiat.

and there's a lot more things to learn and consider about investing on Bitcoin.

[hadveach]

I appreciate your efforts by raising money, you are able to invest in bitcoin, although the risk can not be predicted, but hopefully you succeed.
I do not have the experience to invest in bitcoin, but I understand little and learn from my friends.
so when we invest we can buy coins that are affordable, then you save it in your wallet and you secure your key wallet, so that when bitcoin value goes up we can exchange with bitcoin, although I think that investing is too late.

[orions.belt19]

If you want to invest with bitcoin I suggest do not panic when the price goes down (do not sell your coins but hold it until the price returns to normal), usually the first person who invests his money will panic and sell all his money to not too lose. I hope you are lucky for your first investment

This is important. A lot of first time investors panic immediately when the price drops even just a little bit. Expect this to happen because it’s normal for the price to frequently go up and down. Also, don’t be too excited when the price goes up as well. Some first timers sell immediately also when the price goes up just a little — and they regret when it goes up even more right after. Try studying the price charts so that you may make a close enough prediction.

I’d like to warn OP that there is risk in investment and there’s a chance for you to lose your savings. Bitcoin has the potential to grow and increase in value in the future but it is also risky.

[jerrison]

You have to first understand what the bitcoin is and how the market trends are kept. You know the price and the time taken for it to appreciate

[gentlemand]

If Bitcoin falls nearly 10x and takes more than three years to return to the price you paid for it would you be able to take it? Because that's what happened to people who bought in 2013.

People who bought in 2013 also fully expected to be able to sell it for more the following month and year. If only life was that simple we'd all be rich.

[Harrisonimo]

Well, there are various ways to earn with bitcoin and I can see you have chosen the option of hodling the coin so it appreciates. Well, this is good. But I will advise that instead of just hodling all the bitcoins, you can split it into halves or a fair division and invest the other part in a good lending program. This will avail you the opportunity of having a passive income and also help you in recapitalization. You can then add to build up your bitcoin worth or your investment worth.

[mrcash02]

If Bitcoin falls nearly 10x and takes more than three years to return to the price you paid for it would you be able to take it? Because that's what happened to people who bought in 2013.

People who bought in 2013 also fully expected to be able to sell it for more the following month and year. If only life was that simple we'd all be rich.

I know many people don't like it as they just want to hold their Bitcoins, but on this situation, meanwhile you can invest your Bitcoins and make it generate passive income for you. The risk to see a high drop on BTC's price is real and to wait another few years to see the price recovering is a lot!

So, a passive income would be a good way to don't waste time. Personally, I think on the first investment in BTCs it's already good to try investments that pay interest, at least with few satoshis.

[SUDARMONO]

if you decide to invest in bitcoin it's a very good decision for you to do, you can buy some bitcoins with your savings and keep them for a while until you get a profit, and if you want to get a double result you can put your bitcoin in coin good coin altcoin like ETH, DOGE, and hold up until the price rises then you will feel the sweetness of bitcoin results, but my advice do not entirely your savings to buy bitcoin, just between 70% -80% you spend bitcoin, and the rest for backup your needs, and also you can search for free bitcoin by joining signatur in bitcointalk forum.
rest assured that bitcoin is a very good investment place.

[CriptoIngresos]

First and most important, do your research. Be a good investor and invest in knowledge, you have to take the time to better understand the market and how the business works, research and learn from your success and your mistakes.

That being said. A lot of the things that are already posted in the thread are critical for success. Don't overreact to the market, make sure you take all the possible security measures to protect your balance, be paranoid regarding the security of your balance. Don't put all your eggs in only one basket. Don't fall for scams, no matter how appealing they may be, if it is too good to be true, it's highly probable that it is indeed to good to be true.

Again, at the end of the day all this depends on how much time you are willing to invest in understanding how things work. With the internet you have all the resources to get the best knowledge wherever you want, research relentlessly and learn from your past experiences. The best advice is to keep learning.

Good luck.  

[kenkoy]

Golden Rule of Investing- Don't put all your eggs in one basket. DIVERSIFY.
Before you invest on any type of investments, study first, research what you are about to enter. Never dive into anything without enough knowledge about it. Bitcoin is only one type of investment. The market is very volatile so you need enough discipline to control your emotions when the price goes down. Also, if your using your hard earned money from savings on you work, better diversify it. Like, 20% remain on savings, the rest of 80% diversify it to different investmenst like business, real estate, stocks, and last is Bitcoin /Crtptocurrency.

[mir1127]

Very good a decision, if you want to work bitcoin, I'll tell you it's a profitable way, if you are able to make the right decision at the right time, if you want to profit by bitcoin hold-when bitcoin decreases its value You can buy bitcoin at the time, and when bitcoin's value grows then sell it. If you can work this way, I think it is possible to make good profit, if everyone can work in this way, then it will be successful.

[pootutus]

Friend, if your money comes from saving, I suggest you only buy bitcoin, just buy it, store it, don't sell it, wait for the next cycle and sell it again. Bitcoin prices will be higher and higher for a long time.

[geyayy]

There is another fork that will be held in November, and I think the price will go down, so better be alert and wait for it. After the fork, the price will eventually go up again, and there, voila!  You made your first investment in bitcoin!