Buy the DIP, and HODL!

[Sim_card]

If for example Viktor Winer did DCA with a small amount of money, I also agree that the right action is to store his bitcoins on the exchange first so that the bitcoins increase and after they have collected more, then the bitcoins are sent to a personal wallet.

The purpose of investors storing their bitcoin on a centralized exchange during their accumulation process is not for the bitcoin to increase in value in the centralized exchange but for them to actually accumulate enough bitcoin so that they can withdraw it at once to their personal non-custodial wallet and also pay for the centralized exchange withdrawal fees at once too, rather than withdrawing their bitcoin on several occasions when they have not even accumulate bitcoin that is worth $500-$1000 and end up paying for the centralized exchange withdrawal fees anytime they withdraw their small bitcoin to their personal non-custodial wallet, which will make them waste a lot of money paying for centralized exchange withdrawal fees.

I still sees it as a terrible decision leaving your Bitcoin in a centralized exchange regardless of what so ever because if anything happens to that exchange in question like hacking or internal theft your Bitcoin is good as gone, but in this case where you are using it to buy Bitcoin through the DCA accumulating strategy, and the fraction of the Bitcoin is too small to be moving out anytime you make a purchase, in my own opinion, I would rather wait and be withdrawing it to my self custodian wallet on my second purchase, and it must be weekly, like every two weeks, keeping it for a month is too risky, so I will be moving my two weeks purchase to my self custodian wallet every two weeks, anything more than that is too risky , it's better for me to pay the higher transaction fee and my Bitcoin is safe, than to be greedy and be risking my Bitcoin by leaving it in an exchange for longer duration.

You sound like someone with a large discretionary income, because if you have a small discretionary income and you want to be buying bitcoin every week and send it to your wallet after the second purchase, you will end up using the money that you are suppose to be using to build and grow your bitcoin investment to pay for transaction fees. If you are spending $100 to your self custody wallet from an exchange with someone sending $1000 is the same fee when transferring from an exchange.

Imagine that the transaction fee to send bitcoin from an exchange is $5 and you are buying bitcoin worth of $50 every week. In one month, you will have tranfer $200 an additional transaction fee of $10 which makes it $210 or you receive $190 without extra funds in your exchange account. Do you know how much Bitcoin $10 will get for you in 4 years time. How will your save your investment from high transaction fee in future is what you should also consider.

As long as you are a pleb bitcoin investor using DCA consistently and persistently to grow your bitcoin stash, you cannot do without leaving your bitcoin in an exchange or with a third-party for the period of time that you are accumulating it into a reasonable amount before moving it to your self custody wallet. This is what I always do, because whatever funds that I have sent to my self custody wallet cannot be tampered with till I have accumulated more than enough Bitcoin.

Mainly reason being why holders having their funds on the Centralized exchange is for quick execution of transactions such as quick trading and exchange of coins before market prices takes a U-turn against invest plans. That also has to do with considering transaction fees which could be more expensive if initially was stored in the non custodial wallets.
You should agree with me that most short term holders stores their bitcoin in the centralized exchanges to carry on their quick transactions

These set of people are not holders but traders because a long-term bitcoin holder does not convert his bitcoin to USDT for no reason even when the price of bitcoin is at the bottom line of the dip. You are sounding like a trader who is also into shitcoin. Invest in bitcoin for a long-term and you will be happy that you took the bold step now.

The purpose of investors storing their bitcoin on a centralized exchange during their accumulation process is not for the bitcoin to increase in value in the centralized exchange but for them to actually accumulate enough bitcoin so that they can withdraw it at once to their personal self custody wallet.

You are saying the same thing, because while to you are buying more bitcoin to the one you already have, the value also increases.

People should have general knowledge of Bitcoin investment even though they are yet to invest it helps them to differentiate between good and bad information when they come across one and it gives them an edge over scammers when they encounter them.

When you don't have any bitcoin how will a scammer scam you and what are you protecting. Is just like if someone without any bitcoin has a clipboard malware, he doesn’t have any funds to transfer to anywhere. Therefore, he wouldn't know if he has clipboard malware since he will not paste any wallet address to send funds. Anyone who believes in bitcoin who definitely look for a means to invest in bitcoin by looking for a means of income with a discretionary income.

[lizarder]

If you are new to Bitcoin investment then it is important to have basic knowledge. If you do not understand what Bitcoin is, what is the function of Bitcoin, how does it work etc. If you do not have knowledge in all these things then I would say that Bitcoin investment is not for you. .

After gaining some knowledge about Bitcoin then you can gain knowledge about wallets. Because if you do not know how to invest in Bitcoin then I think it is a mistake to know about wallets first.

There are almost no people who are unfamiliar with knowledge about bitcoin because I am sure there are many sources that they can go to to find out the process of bitcoin's journey for now. I even doubt that you yourself understand the function of bitcoin well because generally people only use bitcoin as a step for investment and maybe basic knowledge about it is not something that is difficult to get.

For the storage issue, I agree because not many people may understand the level of security that is much better because generally people will consider the exchange as a place to store it. This is where knowledge is needed to find out and with the amount of information obtained, it is necessary to analyze a wallet that is much better at storing bitcoin much safer.

[Justbillywitt]

If you want to invest in bitcoin, of course you must first learn how to do it step by step so that your bitcoin investment goes well.

I personally would suggest you to learn about wallets first. Because if you don't understand this, I think it will be a problem. Because a wallet is where you store the bitcoins you have. So don't store the bitcoins you buy on the exchange, because it is very risky. That's why I suggest you learn about wallets first. Then if you already understand about wallets, then you can buy bitcoins on the exchange and send them to your wallet. Also, don't forget to be more careful when you are going to send your bitcoins to your wallet. Because if you make a mistake with just one letter when you enter your wallet address, of course it will result in your bitcoins being lost. That's why when sending bitcoins to the wallet you have to be more careful.

If you are new to Bitcoin investment then it is important to have basic knowledge. If you do not understand what Bitcoin is, what is the function of Bitcoin, how does it work etc. If you do not have knowledge in all these things then I would say that Bitcoin investment is not for you. .

I'm not in any way trying to promote ignorance or rejecting knowledge, but these things you have listed above is not enough to stop some from investing in bitcoin. These are things that can be figured out down the line while you are already invested in bitcoin or it can be done side by side with your investment. I have seen several situation where total newbies came into bitcoin investment through the help of a colleagues in office or close friends and family relatives and later figure out what bitcoin was all about, and how it works, and it's functions.  These are things that can be learnt at anytime. But they ain't enough to prevent someone from owning/ investing in bitcoin.

[bestcandy]

My question is can I be able to buy bitcoin now that the dip has occured.i need to understand how the market works and how to get started although I have not invested online before I mean bitcoin investment,

Hope this is the best time for me to buy bitcoin?

The best time to buy Bitcoin is now. Not in situation where market is at the dip nor the price of Bitcoin is having a good rally thru the bull run effect.

You are making things became more complicated if you always catch those volatile movement of Bitcoin. That's why better to think about better approach with it so that you can less get pressure on accumulate and can look forward to last long in this type of investment.

Bitcoin is not for short term so hopefully you understand the risk and other consequences so that you will not get distract by Fuds in the market.

So better start with your investment now by buying Bitcoin and learn DCA.

I will check mate my self and to think very well with this Bitcoin investment,I believe little by little will help me on this Bitcoin and I will make sure I learn the DCA just as you said.

Thank you very much.

I personally would suggest you to learn about wallets first. Because if you don't understand this, I think it will be a problem. Because a wallet is where you store the bitcoins you have. So don't store the bitcoins you buy on the exchange, because it is very risky. That's why I suggest you learn about wallets first.

Learning about wallets is important so that you will be able to figure out the best wallet that will give you 100% control over your bitcoin, but for someone who is just starting his or her bitcoin investment, learning about wallets is not the best thing he or she should do because he or she has not yet accumulated bitcoin to store in his or her self custodial bitcoin wallet. What someone who is just starting his or her bitcoin investment should learn is about his or her finances to know if he or she is in the right state to accumulate bitcoin and at the same time be able to solve his or her daily expenses without finding it difficult to do so. Maybe by the time the new investor has accumulated bitcoin that is worth $500-$1000 in any centralized exchange, he or she can now decide to learn about wallets to figure out the best wallet that is more reliable for him or her to store his or her bitcoin.

Yes, the best time to buy Bitcoin is now that the price is in dip. The market work in such a way that investors leverage the opportunity of the dip moment of Bitcoin to buy Bitcoin as much as possible and accumulate significant starch of Bitcoin in their wallet and then hold it for long time to sell when the price is high to enable them maximize their profit because the price of Bitcoin fluctuate with time, that is to say that the price rises and fall. However, before you invest in Bitcoin the first thing to know is the best wallet you will keep your Bitcoin for safety purpose and then the second thing is to know the best strategies that will enable you to buy Bitcoin because we have DCA method and Lump Sum method of buying Bitcoin.
The DCA means dollar cost average and it's a strategies that enable investors to buy certain volume of Bitcoin over a stipulated period of time. For instance, you can decide to be buying certain volume of Bitcoin everyday, weekly or monthly while Lump Sum is a strategies of buying certain volume of Bitcoin at once.

[Jewan420]

There are almost no people who are unfamiliar with knowledge about bitcoin because I am sure there are many sources that they can go to to find out the process of bitcoin's journey for now. I even doubt that you yourself understand the function of bitcoin well because generally people only use bitcoin as a step for investment and maybe basic knowledge about it is not something that is difficult to get.

I cannot agree with your statement. Yes, it is not difficult to know any information about Bitcoin now, but most of the time there is confusion about the information you get from different sources. Because the Internet is currently the main means of easily knowing any information, but most of the time, wrong information is spread on the Internet about Bitcoin. You need to know the trusted sources and search for the right information. As you say, you may fail to get the right knowledge about Bitcoin investment and be forced to be negative about Bitcoin. Because, not everyone can give the right information about Bitcoin, you have to have basic knowledge to get a good source. Maybe you can easily know the answer to the question of what is Bitcoin, but the chances of getting the answer to the following questions are high. This forum is the most reliable source to know about investment. Here you can get verified information from multiple skilled people.

Another thing that confused me in your statement is that you said "there is almost no one who is unfamiliar with the knowledge of Bitcoin" which I cannot agree with you. There are still many young people or people in the world who do not know what Bitcoin is, or many have not even heard of the name Bitcoin or have no general knowledge about what Bitcoin is used for. For example, I want to show some of my local youth, even the old people have never heard of Bitcoin, even though they are educated. Can you tell me what percentage of people in your area know Bitcoin? And what percentage of people have heard of Bitcoin?

[Olatundespo]

If you want to invest in bitcoin, of course you must first learn how to do it step by step so that your bitcoin investment goes well.

I personally would suggest you to learn about wallets first. Because if you don't understand this, I think it will be a problem. Because a wallet is where you store the bitcoins you have. So don't store the bitcoins you buy on the exchange, because it is very risky. That's why I suggest you learn about wallets first. Then if you already understand about wallets, then you can buy bitcoins on the exchange and send them to your wallet. Also, don't forget to be more careful when you are going to send your bitcoins to your wallet. Because if you make a mistake with just one letter when you enter your wallet address, of course it will result in your bitcoins being lost. That's why when sending bitcoins to the wallet you have to be more careful.

If you are new to Bitcoin investment then it is important to have basic knowledge. If you do not understand what Bitcoin is, what is the function of Bitcoin, how does it work etc. If you do not have knowledge in all these things then I would say that Bitcoin investment is not for you. .

After gaining some knowledge about Bitcoin then you can gain knowledge about wallets. Because if you do not know how to invest in Bitcoin then I think it is a mistake to know about wallets first.

It is necessary to have some basic knowledge before investing, but if the investor does not accept Bitcoin, then it may be more difficult for him to expand the scope of this knowledge. If an investor wants to acquire more detailed knowledge about Bitcoin in addition to accepting Bitcoin, then holding a small amount of Bitcoin will be more suitable for his learning. But those who only try to gain knowledge and do not hold Bitcoin will never be encouraged to invest in Bitcoin. If you purchase a small amount of Bitcoin to increase your knowledge and do it regularly using the DCA strategy, then you will be able to acquire sufficient knowledge for Bitcoin investment in a relatively short time, which will encourage you to invest in Bitcoin. There are many learners who spend too much time learning in the beginning and then lose interest in investing in Bitcoin. So, to gain knowledge learning about Bitcoin is beneficial if you collect a portion of Bitcoin.

First of all it doesn't even make any sense for someone who doesn't accept Bitcoin to still go and learn about it I mean it is weird and pointless just imagine me going to learn how to trade when I don't even like trading, I don't accept it, so of what use will it be to me? it is a waste of time and energy because if I should put that effort and energy in something else that I like or accept I will do exceedingly great. However, someone will only lose interest in Bitcoin if he or she doesn't have enough fund to keep the investment running or if someone is not doing the right thing but if you are doing the right thing and you have your discretionary, back up fund etc intact you will even be happy with yourself because of the level of progress you will see.

Education is a resource that you will not get a proper idea from everyone. Being knowledgeable about Bitcoin is really a matter of luck. Most people around you will never want you to have more money than them. You can verify this in terms of reality. You can be knowledgeable about Bitcoin and you may not have money when you are a beginner or you are a student at that time. Later on, you may be tempted to invest in Bitcoin based on that knowledge.
If you are not in a situation to invest now, your financial situation may be better in the future but being knowledgeable about Bitcoin will be a smart decision for your future. Knowledge should not be considered a waste of energy. Every person should spend time on education from birth to death.

[G_Besar]

,,,

The next step is to make sure you have source of income before going into bitcoin investment and know you can also invest bitcoin as little as waht you can afford. Do not think the little you are investing is too small, if you let that to settle in your mind you won't be able to invest bitcoin. If you are consistent with the little you can afford it can go a long way for you in the future but if you wait to invest big amount you may not even begin the journey to invest.

This is such a good suggestion for everyone to try because in starting an investment in Bitcoin, you don't have to wait for a larger amount of money to be collected because it will waste more of our own time and energy to be able to start it. In fact, starting slowly with the available capital more consistently by setting aside funds from the sources of income that we already have is a pretty good step for everyone so that there is no more wasted time because each journey will continue to be more valuable. I quite agree with the advice you said because it is more directed at starting something good with such a confident intention in Bitcoin that it will be more useful when it really works in the next few years.

[GIF-JOBS]

,,,

The next step is to make sure you have source of income before going into bitcoin investment and know you can also invest bitcoin as little as waht you can afford. Do not think the little you are investing is too small, if you let that to settle in your mind you won't be able to invest bitcoin. If you are consistent with the little you can afford it can go a long way for you in the future but if you wait to invest big amount you may not even begin the journey to invest.

This is such a good suggestion for everyone to try because in starting an investment in Bitcoin, you don't have to wait for a larger amount of money to be collected because it will waste more of our own time and energy to be able to start it. In fact, starting slowly with the available capital more consistently by setting aside funds from the sources of income that we already have is a pretty good step for everyone so that there is no more wasted time because each journey will continue to be more valuable. I quite agree with the advice you said because it is more directed at starting something good with such a confident intention in Bitcoin that it will be more useful when it really works in the next few years.

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

[Findingnemo]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

[Tonimez]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

@Findingnemo it all depends on the hope you give to a newbie. Your description already appears to be trading. Only traders introduce their newbies into bitcoin trading and that's the aspect that one needs to make sure that a beginner really understands the venture he or she is going into before investing. Introducing a beginner into investing to Hodl, don't really demand much knowledge of the beginner about bitcoin. It gives the beginner the luxury of time to learn about bitcoin in the process and also helps him not to see bitcoin as a get-rich-soon kind of investment.

Why not advise a beginner to invest and forget about it? By such way the beginner would only invest the amount he doesn't care about and wouldn't worry you about it anytime soon. It's the hope you raise that comes back to hunt you from beginners. Getting a beginner to invest for a long-term would also make the person come back to appreciate you many years later when he finally decides to check his investments. Avoid introducing beginners into trading, no beginner who is introduced into bitcoin would still keep his relationship with you when things go south.

[DaNNy001]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

First of all, why would anyone force someone to buy Bitcoin? Bitcoin isn't the only asset or means by which people can invest on so the idea of generalizing it that would make you convince some to buy Bitcoin is just not the right way to go.

Before ever one will go into Bitcoin investment, he or she must have the basic knowledge of knowing that it's not something that would yeild you profit within the twinkle of an eye and also the principle of long term investment should be at the back of his mind so that even when the price starts fluctuating he or she wouldn't be bother and even better he of she will use it as an advantage point to get more Bitcoin just as the topic head says "BUY THE DIP AND HODL".

[avp2306]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

Just make sure that they really have an interest to invest on Bitcoin since for sure that there would be problem arise regarding on that matter.

If the newbie is aware about those consequences for sure that they would never blame you regarding on pumps and dumps in the market. Just make sure you guide them on what's best thing to do and everything would provably fine on newbie side especially you can set up their mind for long term. Just don't do any hard selling just to introduce Bitcoin to those newbies since you will never convince anyone that has no interest about it. Just guide those newbies come to you and ask about what better thing to do with their money on Bitcoin since for sure that they would never go wrong if they buy and hold Bitcoin then do DCA.

[ChocolateBitcoinK]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

If you want to tell someone about Bitcoin investment, first tell them the risks. Because there are many people who, if they tell someone a thing, only talk positively about it, they do not tell the negative aspects of that thing, but this matter becomes a problem in the future. In the same way, to tell a new person about Bitcoin investment, you must present the all kind of risks of Bitcoin, and tell the truth, because Bitcoin is never risk-free. And also, forcing someone to invest without explaining Bitcoin well is only risky and in the future when Bitcoin dumps due to volatility, he will come to you and blame you for his losses.

So, do not force, you tell him about Bitcoin, and present him with the long-term potential profit potential of Bitcoin, as well as the risks. And then let him make the investment decision alone, remember that your responsibility is only to explain everything about Bitcoin to him and introduce him to the best Bitcoin investment strategy (DCA), and the rest of the investment decision will depend entirely on him. Overall, it is better to guide them properly rather than pressuring someone to buy Bitcoin, so that they can make their own decisions and be confident in investing.

[promise444c5]

People should have general knowledge of Bitcoin investment even though they are yet to invest it helps them to differentiate between good and bad information when they come across one and it gives them an edge over scammers when they encounter them.

When you don't have any bitcoin how will a scammer scam you and what are you protecting. Is just like if someone without any bitcoin has a clipboard malware, he doesn’t have any funds to transfer to anywhere. Therefore, he wouldn't know if he has clipboard malware since he will not paste any wallet address to send funds. Anyone who believes in bitcoin who definitely look for a means to invest in bitcoin by looking for a means of income with a discretionary income.

Having Basic Knowledge  especially how to secure your wallet and likes
 is actually a good one to understand before investment yet it isn't something that take that long to figure atleast for the basics, there's no way it can all be mastered in a short period, as times goes on they can all be mastered as investment continues. A clipboard malware could be very dangerous for investor who copy address from time to time probably for thei DCA (it's better to check and verify over and over before any transaction, even without malware, mistakesare possible) and it's still worth knowing that your machine could be compromised entirely while you invest all for a scammer to wipe your accumulated Bitcoins . Having proper  Knowledge should literally "give hedge against scammers" as said by OP  and make it even much more harder/impossible for future threats because as time goes , investor understands better and make his wallet even more secure, improve his accumulation journey by utilising what he/she must have been learning while investing.
In summary, all I'm saying covering basics is essential but shouldn't keep for long to start investing, not all basics are really required to understand before investing, Bitcoin does not wait for anyone just like time

[Agbamoni]

If you want to invest in bitcoin, of course you must first learn how to do it step by step so that your bitcoin investment goes well.

I personally would suggest you to learn about wallets first. Because if you don't understand this, I think it will be a problem. Because a wallet is where you store the bitcoins you have. So don't store the bitcoins you buy on the exchange, because it is very risky. That's why I suggest you learn about wallets first. Then if you already understand about wallets, then you can buy bitcoins on the exchange and send them to your wallet. Also, don't forget to be more careful when you are going to send your bitcoins to your wallet. Because if you make a mistake with just one letter when you enter your wallet address, of course it will result in your bitcoins being lost. That's why when sending bitcoins to the wallet you have to be more careful.

If you are new to Bitcoin investment then it is important to have basic knowledge. If you do not understand what Bitcoin is, what is the function of Bitcoin, how does it work etc. If you do not have knowledge in all these things then I would say that Bitcoin investment is not for you. .

I'm not in any way trying to promote ignorance or rejecting knowledge, but these things you have listed above is not enough to stop some from investing in bitcoin. These are things that can be figured out down the line while you are already invested in bitcoin or it can be done side by side with your investment. I have seen several situation where total newbies came into bitcoin investment through the help of a colleagues in office or close friends and family relatives and later figure out what bitcoin was all about, and how it works, and it's functions.  These are things that can be learnt at anytime. But they ain't enough to prevent someone from owning/ investing in bitcoin.

Believe it or not there is always step to Bitcoin investment that doesntt mean you have to have all the knowledge in the world before starting the investment. Depending on what he meant by step by step as for me i believe a lot of persons here will agree with me that as a beginner in Bitcoin investment or any other investment you need to know what that investment looks like and then know about security as well as risk management because no investment is risk free. These basic step need not to be avoided and it is not good to start your investment without knowing them. Any beginner who start their Bitcoin investment journey without having a clue of what it is will only end up doing things the wrong way. Some of them will be able to fix their mistake while most of them will lose all their money.

Whether Bitcoin or not it is wrong to start anything with no clue at all. Since investment is risky it becomes more risky to invest in something we know nothing about. Let us be honest, as a farmer you cannot know the right tool to take to the farm when you dont know the crop you are going to harvest. Same thing goes to Bitcoin investment you need to know what it is all about then kick start but that doest need to take forever. The basic of Bitcoin investment tis simple to comprehend.

[Princess Leah]

Believe it or not there is always step to Bitcoin investment that doesntt mean you have to have all the knowledge in the world before starting the investment. Depending on what he meant by step by step as for me i believe a lot of persons here will agree with me that as a beginner in Bitcoin investment or any other investment you need to know what that investment looks like and then know about security as well as risk management because no investment is risk free. These basic step need not to be avoided and it is not good to start your investment without knowing them. Any beginner who start their Bitcoin investment journey without having a clue of what it is will only end up doing things the wrong way. Some of them will be able to fix their mistake while most of them will lose all their money.

Whether Bitcoin or not it is wrong to start anything with no clue at all. Since investment is risky it becomes more risky to invest in something we know nothing about. Let us be honest, as a farmer you cannot know the right tool to take to the farm when you dont know the crop you are going to harvest. Same thing goes to Bitcoin investment you need to know what it is all about then kick start but that doest need to take forever. The basic of Bitcoin investment tis simple to comprehend.

What People don't understand is that they can't learn everything at once, it takes a gradual process to learn something then another and so on and on, so I don't know why they expect someone to know everything about Bitcoin investment before investing on it, you're really making sense Agbamoni, when you said they should take it step by step and that's just it, that why Jay advised that one just needs to know the basics before starting and if you think about it, it makes lots of sense and anyone who thinks otherwise should go on and keeps studying, they should take their time to watch tutorials on YouTube and learn from wherever they want while serious people are staking their portfolio on different intervals.

 Bitcoin investment is not some college degree that requires one to move from one level to another, so far you know the basics, then have money for investment and have made up your mind to invest long-term, maintain discipline and be patient concerning your investment then you're good to go, other things would fall in place cause the longer you keep investing the more things you get to know and understand about Bitcoin investment and that's just it. It's even better for one to put it to practice by starting their investment journey already than take all the time meant for investment to keep learning without practicing, you'll be watching Bitcoin grow higher, and miss the opportunity to buy cheaper while people with little knowledge are staking and building their portfolio for the future.

[Moreno233]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

First of all, why would anyone force someone to buy Bitcoin? Bitcoin isn't the only asset or means by which people can invest on so the idea of generalizing it that would make you convince some to buy Bitcoin is just not the right way to go.

I agree with you that forcing someone to invest in Bitcoin is a wrong move because such person will not take responsibilities of the investment and may not have the motivation to follow it with consistency, this will affect the entire process of buying and holding. Investment is something that should happen out of personal convictions and motivations which requires that the investor is convinced that he is doing something right.

However, I will not agree with you on the aspect that Bitcoin is not the only asset to invest in unless you add more clarifications to that statement because it is sounding as if you are supporting the idea of investing in shitcoins. There are other assets like you said but they are generally shitcoins that have so much risks attached to them. If we allow the idea that there are other assets to thrive, then it could be a motivation for people to start looking for other alternatives and this will make them end up investing in shitcoins and at the end lose their money. Bitcoin is just enough for anyone willing to invest for the future, so our efforts should be on how to buy and hold Bitcoin and nothing else.

[JayJuanGee]

I agree with you, in fact, Bitcoin is a currency of such a nature that the more you wait to invest, the more you will fall behind. Every moment is very important to start investing in Bitcoin, invest first if you have money, the more you think about the value, the more confused you will be, because the value is never constant. The time and opportunity that is lost once, never comes back later. So never delay in starting investment, delay means losing time and opportunity. A skilled investor knows the true nature of Bitcoin, that is why a real investor never delays in investing. Whenever he has money to invest, he invests, and they are never afraid of instability, because instability is an opportunity for them. Because they are very sure and optimistic about the future of Bitcoin.

If someone doesn't have a clue about what is bitcoin then forcing them to buy can be a bad idea, what if the price crashed once they bought and you are the one who they will blame you. So guiding them when they realize bitcoin is their path is good but when someone still haven't made up their mind can take their time. Better late than never cause if they do it for wrong reason and faced the loss they might exit the market and will never think about coming back.

So this isn't entirely about the price, it's actually the cause that should drive them to invest, a person who truly understand bitcoin will not be shaken by the volatility so the short bumps and dumps will not likely to alter their strategy if DCAing or whatever they want to practice.

If you want to tell someone about Bitcoin investment, first tell them the risks. Because there are many people who, if they tell someone a thing, only talk positively about it, they do not tell the negative aspects of that thing, but this matter becomes a problem in the future. In the same way, to tell a new person about Bitcoin investment, you must present the all kind of risks of Bitcoin, and tell the truth, because Bitcoin is never risk-free. And also, forcing someone to invest without explaining Bitcoin well is only risky and in the future when Bitcoin dumps due to volatility, he will come to you and blame you for his losses.

You can also tell people that you believe that bitcoin is the best of investments currently available, yet at the same time, each person has responsibilities to figured out whether and/or how to invest and each person is responsible to decide the consequences of their actions whether they invest or the don't invest, it is their choice, and if they choose to ignore bitcoin, they can have fun staying poor.  They have to figure out the benefits and the risk, and we are not obligated by their choices, even if we are saying that we believe bitcoin is amongst the best of investments, if not the best investment currently available.

There are no guarantees, and each person is responsible whether he gets into bitcoin or he chooses to completely ignore bitcoin, actions (and non-actions) have consequences. Even if I tell someone about bitcoin, I am not responsible for what they do, including that if there are risks, they have to research and figure that out.  I have no obligation to warn them, even if I might mention that bitcoin could go to zero, but I might not say anything, also. Each person has to figure it out, whether we are talking on the web (and in these forums) or we are talking in person.  I do not have additional obligations merely because I tell someone about bitcoin in person, and it could be the case that I had been doing them a favor by telling them about bitcoin, when they might not have had previously considered bitcoin... yet they still remain responsible for the consequences of their own actions in regards to the information that I presented, whether they act or not and whether they do further research or not.

So, do not force, you tell him about Bitcoin, and present him with the long-term potential profit potential of Bitcoin, as well as the risks. And then let him make the investment decision alone, remember that your responsibility is only to explain everything about Bitcoin to him and introduce him to the best Bitcoin investment strategy (DCA), and the rest of the investment decision will depend entirely on him. Overall, it is better to guide them properly rather than pressuring someone to buy Bitcoin, so that they can make their own decisions and be confident in investing.

We might be getting carried away with whatever this idea of "pressure" or "force" is, since in the end, the person receiving the information about bitcoin has to figure out matters for himself, so sure there could be some dangers if the person helping is doing too much of the work for the person.  

[edited out]

.....However, I will not agree with you on the aspect that Bitcoin is not the only asset to invest in unless you add more clarifications to that statement because it is sounding as if you are supporting the idea of investing in shitcoins. There are other assets like you said but they are generally shitcoins that have so much risks attached to them. If we allow the idea that there are other assets to thrive, then it could be a motivation for people to start looking for other alternatives and this will make them end up investing in shitcoins and at the end lose their money. Bitcoin is just enough for anyone willing to invest for the future, so our efforts should be on how to buy and hold Bitcoin and nothing else.

I would suggest that newbies do not waste time, energy and/or money on shitcoins, and that they try to figure out and prioritize bitcoin  first,  including that if they are not able to help themselves in regards to looking into shitcoins, then they should not invest any more than 10% of their time, energy and/or value into shitcoins as compared to how much they are investing into bitcoin.

Of course, very many times, people will not listen, yet it still can be helpful to state our opinions on the topic. 

i am not really sure how helpful it is to talk in terms of absolutes in terms of saying never do shitcoins and shitcoins will never beat bitcoin, since we cannot know the future with 100% certainty, and yeah, for many of us bitcoiners, we recognize shitcoins as nearly complete scams, yet at the same time some of them do outperform bitcoin in short-periods, and they also sell themselves as being equal to or better than bitcoin and suggesting that they are serving some purpose.. .. so surely, I am suggesting to spend very little time, energy or money on those, and to learn and focus on bitcoin first, yet I am not saying to completely ignore those shiny objects that are misleading dummies into gambling and believing that they can outperform bitcoin.

[Stormisover]

I would suggest that newbies do not waste time, energy and/or money on shitcoins, and that they try to figure out and prioritize bitcoin  first,  including that if they are not able to help themselves in regards to looking into shitcoins, then they should not invest any more than 10% of their time, energy and/or value into shitcoins as compared to how much they are investing into bitcoin.

Of course, very many times, people will not listen, yet it still can be helpful to state our opinions on the topic. 

i am not really sure how helpful it is to talk in terms of absolutes in terms of saying never do shitcoins and shitcoins will never beat bitcoin, since we cannot know the future with 100% certainty, and yeah, for many of us bitcoiners, we recognize shitcoins as nearly complete scams, yet at the same time some of them do outperform bitcoin in short-periods, and they also sell themselves as being equal to or better than bitcoin and suggesting that they are serving some purpose.. .. so surely, I am suggesting to spend very little time, energy or money on those, and to learn and focus on bitcoin first, yet I am not saying to completely ignore those shiny objects that are misleading dummies into gambling and believing that they can outperform bitcoin.

If it were to be possible taken minds off those gambling behaviors would have been the best because it can very difficult for anyone who are influenced in to it to come to the terms of allocating a lower percentage of their time, energy and value in to it compared to Bitcoin because the only picture they have is to make quick profit exaggerated in a high profile which has always been the point of attraction for those that fall in to those traps, if bitcon is much better of in a long term, there are those who might not have that enough patient and will end up having a contrary view of allocating more percentage of their time, energy and value in to those gambling behaviors compared to Bitcoin, having our minds off completely would have just been the best.

[JayJuanGee]

I would suggest that newbies do not waste time, energy and/or money on shitcoins, and that they try to figure out and prioritize bitcoin  first,  including that if they are not able to help themselves in regards to looking into shitcoins, then they should not invest any more than 10% of their time, energy and/or value into shitcoins as compared to how much they are investing into bitcoin.

Of course, very many times, people will not listen, yet it still can be helpful to state our opinions on the topic. 

i am not really sure how helpful it is to talk in terms of absolutes in terms of saying never do shitcoins and shitcoins will never beat bitcoin, since we cannot know the future with 100% certainty, and yeah, for many of us bitcoiners, we recognize shitcoins as nearly complete scams, yet at the same time some of them do outperform bitcoin in short-periods, and they also sell themselves as being equal to or better than bitcoin and suggesting that they are serving some purpose.. .. so surely, I am suggesting to spend very little time, energy or money on those, and to learn and focus on bitcoin first, yet I am not saying to completely ignore those shiny objects that are misleading dummies into gambling and believing that they can outperform bitcoin.

If it were to be possible taken minds off those gambling behaviors would have been the best because it can very difficult for anyone who are influenced in to it to come to the terms of allocating a lower percentage of their time, energy and value in to it compared to Bitcoin because the only picture they have is to make quick profit exaggerated in a high profile which has always been the point of attraction for those that fall in to those traps, if bitcon is much better of in a long term, there are those who might not have that enough patient and will end up having a contrary view of allocating more percentage of their time, energy and value in to those gambling behaviors compared to Bitcoin, having our minds off completely would have just been the best.

There are always going to be people who make the wrong choices, do dumb things, gamble, and cannot control their emotions, and might have difficulties with logic or seeing that they are being duped into shitcoins, and there is likely ONLY so much that any of us can do to stop them (or persuade them) from figuring out how they would like to proceed in more advantageous kinds of  ways... including that in the end, they are the ones who need to figure out what they believe to be  advantageous  to them, which might contribute to their making the wrong choices... 

There are always going to be those kinds of people, and even each of us have similar kinds of tendencies to want to gamble or wanting to find the right course for ourselves and/or wanting to get rich quick, and we sometimes make mistakes along the way.. and sometimes the mistakes are minor and other times they are fatal.  We can try  to take actions to make sure that our mistakes are less likely to be fatal, and sure there is no guarantee that we are going to end up striking reasonable balances in our approaches.