Things you should know before investing in bitcoin

[faithupgrade]

I have a longtime crypto investor friend that guides me, give me tips specially in trading. You must know when to sell and when to buy. You must learn how the price action and the price chart reading, otherwise you will lose the trade.

[Timzbrand]

Bitcoin is nothing but one of the digital currencies that people are wanting to invest in. If you are one of those people, it is consequential for you to ken certain things afore you genuinely invest in bitcoins.

[decoder88]

Things you should know before investing in bitcoin

What everyone wants is to have a stable job and get good savings, the best option is to work the money to get more income for the future and thus have a better quality of life and what better to invest in bitcoin but before you should know certain things about This cryptocurrency.

it is not regulated: there is no entity that regulates and monitors this type of investment. So you should be aware that if you lose your money, nobody will answer

Bitcoin is a high-risk investment: people should know that the level of risk is very high, due to volatility and inability to predict its price. "

Do not get into debt to buy cryptocurrencies: this really should not be done with this or with another investment, if you are going to work your money with extra money you got.

Do not invest more than you are willing to lose: "it is recommended that you do not invest your savings in this currency; on the contrary, invest 1% of your assets, something that you are really willing to lose".

Use reliable pages: use safe sites to navigate and also only use reliable devices such as your cell phone, your computer and your home's wireless network. Never use public networks neither to make investments nor for any type of financial consultation.

And aslo you need to be familiarize in Bitcoin rules and words that needs a deeper understanding to give you a wide perspective of innovation in Bitcoin. As long as you follow the rules you can remain in using Bitcoin.

[gidaahmad]

The most important thing before investing Bitcoin is looking at market conditions. If you think the market is down and the price of Bitcoin down, we can buy Bitcoin while the price is cheap.

[Whytepaper]

You should understand your poverty tolerance.

You should understand how many peanut butter sandwiches you're willing to eat while HODL'ing, and how many Porsches you should not be buying before you let your investment appreciate through at least one halvening.

You should understand how many nocoiners will mock you, no matter what the price action.

But maybe most importantly, related to the point above, you should understand that investing in Bitcoin doesn't make you better than those who aren't. It's so easy to fall prey to feelings of superiority, but I believe part of the Bitcoin journey involves freeing both our wallets and our hearts.  

Happy trading.

[gesdan]

i agree with you that bitcoin is the investment media that has a high profit but with high risk too because the price os bitcoin is not stable like the other currencies. so if you want to invest in bitcoin make sure that you know it has a high risk, if you don't want to take a risk don't do bitcoin investment or trading

[deepakg2m]

Before investing please be mindful of the following:

1. Do your own reasearch on how it works, don't be a bandwagoner.
2. Invest your spare/dead money. Do not invest your tuition fee or your food allowance.
3. Know that bitcoin is unpredictable and be ready to control your emotions everytime a big dip is happening. Always have faith.
4. You have to know atleast the basics of reading candles, patterns, movements. If you are into stock trading it will be a nice start.
5. Prepare to be a billionaire 😬

Exactly. You explained very nicely .But let me make some of the above stated points more clear.
 1. Do not trust anyone's saying, whether good or bad.
 2. Invest only that much which you can bear , if lost.
 3. Have trust and patience always.
 

[jhonvir666]

the next thing to do with a bitcoin is to bitcoin work that is more neat and well known by others because now the bitcoin is starting to drop right now the price is too low too ... is really right, because if there are many bitcoin supplies there is also a possibility of the sin of its value. Higher demand, there is also lower or lower supply for its higher value. That's why bitcoin now has limited supplies to make money in a market.

[Karie_Legend]

The thing you really know before investing Bitcoin is you have to know that Bitcoin isn't a stable currency and has a always good price.

[Jay51]

This is a helpful tips for everyone  to know first before investing in crypto. We should know the advantages and disadvantages in doing it and be sure to have knowledge about cryptocurrency before investing.

[cleygaux]

A must read to all beginners who are just started investing in bitcoins with their hard earned money and not knowing the possibility of financial loss once bitcoin has declined by many governments but It takes more long years to go before this happen I think the crytpocurrency saga is still starting we just have to be careful enough before investing.

[louis sean]

The main think to invest before bitcoin is to know about it,people should know about it fast of all and should know how to invest in bitcoin ,and investor should analyses on it daily.

[Baskin61]

What you say is very true. I'll add a bit to this. we should know every detail of Bitcoin if we want to invest so you will not regret.

[peacefulpeace]

i think before one invest in bitcoin, one should be emotionally prepared, in the sense that one should understand that bitcoin investment like other business investment has it risk factor. Dont invest in bitcoin because of the influence of other investos success story, make up your mind to either gain or wait patiently. Bitcoin should not be seen as a get rich quick scheme, it isnt a promzy scheme. Patence is a very key factor when trading on bitcoin. thanks.

[Ruffian1314]

I totally agree to what you have discuss about bitcoin investment. People really need to know what are the basic knowledge needed before investing in any kind of business. They must know all the risks so that if they failed to earn profits or somehow lost all their investments, they know that there was really risk from the start.

[Jay51]

Contributing is making yourself agreeable to that money and sit tight for it to wind up huge. Yet, there are chances that the thing where you contribute won't be fruitful

[Tilysoo]

Another important thing to know is how to keep your investment safe both on exchanges, online wallets and hardware wallets. Never share your password or seed with anyone under any circumstance. If you do share it with someone then you need to change it right away because no one can be trusted in the crypto world.

[Bilong ko]

You should know what really bitcoin is,their price movement and when to buy.And also,you yourself whether you are patient enough to wait for a long term investment when their is dip.In short, are you ready to take the risk.

[regnidorhcs]

Personally, I think the things you need to know before investing into Bitcoin are the following:

You have to know what is Bitcoin and its purpose and the things it can do - it is a digital currency wherein you can transact, move, send and recieve digital currency to and from anywhere, anytime anonymously. Also you should know that it is very volatile, decentralized and not regulated, you should know all the risk you have to fave if you decide to invest on it. Next is how the market works and how the law of supply and demand affects the value of Bitcoin, Study the historical trends and market activities, doing so, you would have a better understanding of it and will not be easily swayed by false or negative news and some conspiracy theories without any basis. Knwoing how to secure your coins and investments should be one of the first things in mind, ofcourse we don't want all your effort to put into waste. Lastly, you have to know if you have what it takes to do it, strong hands, wise and startegic mind and the patience and determination to be successful, it is not like what other says like it is an easy money, no way. You can get good amount of money from Bitcoin but you also need to put a lot of effort and time into it just like any business and investments.

[Daday23]

Of coarse investing in bitcoin has had a lot of things to consider before you invest to avoid loose your money.One of this is you are knowlegeable about bitcoin you know everything like how it works ,how/where you can earn and you are ready in up and down of its value.Dont invest in bitcoin because of the influence of other investors become success.And make sure that the investment you invest is legit,trusted and many investors.