Top Reasons You Should Know More Before Buying Bitcoin (BTC)

[romero121]

As per my personal knowledge a newbie should learn or know about the following features before buying or making an investment on bitcoin.

• Volatility
• Wallet Usage

• Quick rich scheme
• Security
• Multiplier schemes
• Scam Approaches
• Trading Signals
• Market manipulation
• Basics of trading
• KYC requirements

These are some basic things one need to go through when he/she hasn't got any prior knowledge about cryptocurrencies as well as hadn't bought bitcoin or other cryptocurrencies.

[Yatsan]

Those were just common and shallow reasoning which does not certainly discuss why a certain individual must know more about Bitcoin to be able for them to understand it further and be a reason for them to buy Bitcoin after all. Those were just political and economical concerns which not a certain to convince people what they must learn first. What you must need to discuss is the essential benefits for an individual and not on a broad manner. People must learn individually the benefits they can attain on purchasing and having Bitcoin for them to understand it thoroughly making them buy it for their own personal usage.

[chanler]

I read about the fifth point in your article:

Bitcoin Boost Your Bank Balance:

Bitcoin can increase your bank balance in a short period. The demand for BTC has increased a lot in recent years. Peoples who have bitcoins could sell at a higher price at the right time than what they have invested. Many of the experts predict that the BTC will go much higher in the upcoming years.

Is this related to the profits that we can get by investing in Bitcoin? So, we can make more money and it means boosting our bank account?
Well, what's about losing in Bitcoin? So, it means that BTC can also decrease our bank account amount?
Actually, this is not a simple thing to determine that BTC can boost our bank balance. Because, in every investment, there will be always "Profits & risks*. If we only think about the profits, we may not able to accept if we lose our funds here, moreover, BTC is full of volatility. SO, that we may also get the risks of losing our money even after investing some years in BTC>
SO, this factor should also be considered when investing in BTC.

[ReiMomo]

I guess it would be better to educate people as well on the grey areas of bitcoin, the community, and the people who are abusing it for their
illegal activities.  People should know why people are trying to abuse the cryptocurrency.  Also, the expectation must be set especially with the volatility of the market.

And one last thing, it would be better for them to know that bitcoin is not a form of investment. It's just a store of value. Risk is always there.

[mangsitin]

everyone knows about bitcoin, and has many advantages today.  even during a pandemic, bitcoin is the choice of some people to secure their assets.  however, the downside these days is the high transaction fees.  I think this makes everyone complain and disappointed.  And what happens if the bitcoin stock becomes low or runs out? Maybe the fee will be more expensive than the transaction value.