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Author Topic: Top Tips for New Bitcoin (BTC) Investors  (Read 209 times)
JamesIrvin
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November 09, 2020, 12:01:06 PM
 #1

Bitcoin has grown well in the cryptocurrency world in the last few years and many peoples are showing their interest in this crypto industry. Most of the research and study says that bitcoin is more popular and it might be a benefit for most of the peoples today. Moreover in this, you have to be tricky, it has its risks and if you are not aware of it, you may lose a lot. If you are a new bitcoin (BTC) investor, there are some major things you should know and have to do before you get started.

- Do your research
- Don’t force yourself into it
- Invest in other cryptocurrencies
- Keep your assets secure
- Prepare for volatility

To know more, visit here <> Tips for new Bitcoin investors
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November 09, 2020, 02:58:48 PM
 #2

Quote
3. Invest in other cryptocurrencies

Most of the experts would say that don't get more excited about Bitcoin that could end up investing all your money in it. They suggest that, don't invest your entire money in one cryptocurrency ie., Bitcoin. Instead, make your investment in other assets such as Litecoin, Ripple, Bitcoin Cash, Tether, Ethereum, etc.

That's definitely one easy sure-fire way of destroying your credibility. It's funny how you even recommended investing in freakin Tether, a stablecoin lmao.

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November 09, 2020, 03:23:51 PM
 #3

If you are a new bitcoin (BTC) investor, there are some major things you should know and have to do before you get started.

- Do your research
- Don’t force yourself into it
- Invest in other cryptocurrencies
- Keep your assets secure
- Prepare for volatility
If one is investing in altcoins, they are technically not Bitcoin investors, but cryptocurrency investors.
I do not think that should be a tip for new investors as there is no necessity to invest in other cryptocurrencies. If one finds a coin which they consider to be worth investing in after going through the fundamentals, they can take the risk, but new investors interested in Bitcoin should be under no pressure to diversify their holdings.
In my opinion, the best form of diversification is having a real life business or source of income which would prevent you from dipping into your Bitcoin stash for regular needs.





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November 09, 2020, 03:39:45 PM
 #4

the most important thing I think that new investor must pay attention to is that they should not put all of their lives into this industry. this is so important that if you don't follow this rule they might lose all of their lives. do not sell your house or car to buy BTC. they should put their extra money in this crypto currency and they should know that cryptocurrencies have volatiles.
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November 09, 2020, 03:45:37 PM
 #5

 important that if you don't follow this rule you might lose

Top 5 Bitcoin Investors
Barry Silbert.
Dan Morehead.
Tyler and Cameron Winklevoss.
Michael Novogratz.
Digital Asset Holdings.

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November 09, 2020, 03:47:04 PM
 #6

Add more like

invest money you can afford to lose,
do not put your eggs in a single tray (diversified investment or diversified bitcoin wallets either way),
Invest when bitcoin is cheaper and sell when bitcoin is at higher price,
store bitcoin in an offline storage or cold wallet,
use secured and easy to use bitcoin exchange,
then tell one of the trusted member of the family an access to your bitcoin when something happen to bitcoin holder.
I think that is all for now.
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November 09, 2020, 03:59:04 PM
 #7

Quote
3. Invest in other cryptocurrencies

Most of the experts would say that don't get more excited about Bitcoin that could end up investing all your money in it. They suggest that, don't invest your entire money in one cryptocurrency ie., Bitcoin. Instead, make your investment in other assets such as Litecoin, Ripple, Bitcoin Cash, Tether, Ethereum, etc.

That's definitely one easy sure-fire way of destroying your credibility. It's funny how you even recommended investing in freakin Tether, a stablecoin lmao.

It would be insane to suggest someone to invest on a stable or static coin. I can't understand how is it safe and profitable to invest in Tether. Tether is just more like a stable coin, It can be used to avoid the risk of falling prices or to avoid unnecessary sudden crypto dump. you can use USDS, EURS, DAI etc as the alternative of USDT. Investing in usdt for profit is nothing but nonsense.

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November 09, 2020, 07:26:14 PM
 #8

If someone had given me similar advice when I started trading crypto, many things would be different now.

Like what would have been different? If you have missed some steps, maybe you jumped into mature boards without growing gradually while reading threads in beginners and help board just like op with a new account but here and leaving out the right section for a start .

Maybe you will like visiting the board now  Grin
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November 09, 2020, 08:12:21 PM
 #9

- Invest in other cryptocurrencies

I'd like to know which cryptocurrencies would you suggest and for what reason. I could say perhaps Monero could be one that has a certain use case but I don't see any reason we need anything else.
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November 09, 2020, 08:17:35 PM
 #10

Bitcoin has grown well in the cryptocurrency world in the last few years and many peoples are showing their interest in this crypto industry. Most of the research and study says that bitcoin is more popular and it might be a benefit for most of the peoples today. Moreover in this, you have to be tricky, it has its risks and if you are not aware of it, you may lose a lot. If you are a new bitcoin (BTC) investor, there are some major things you should know and have to do before you get started.

- Do your research
- Don’t force yourself into it
- Invest in other cryptocurrencies
- Keep your assets secure
- Prepare for volatility

To know more, visit here <> Tips for new Bitcoin investors
I disagree on your third point, at the beginning when you do not have a lot of experience it is better to stick only with bitcoin, if you do that then the chances you will get scammed drop significantly and this is a huge advantage, also once you get enough experience in the market you may decide to stick with bitcoin anyway as not only it is the best coin in the market but also it is one of the few coins that can be used for something else than investing and this is important as it seems that are getting closer to the day in which you will be able to use your bitcoin to buy products and services in several stores.

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November 10, 2020, 01:46:26 AM
 #11

Maybe you forgot something....

- They must be able to read charts or news.

And do not rush to invest, understand everything well before doing something. And this cannot be instant.

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November 10, 2020, 03:06:29 AM
 #12

The main TIP


open to virtual work
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November 10, 2020, 03:11:05 AM
 #13

Bitcoin has grown well in the cryptocurrency world in the last few years and many peoples are showing their interest in this crypto industry. Most of the research and study says that bitcoin is more popular and it might be a benefit for most of the peoples today. Moreover in this, you have to be tricky, it has its risks and if you are not aware of it, you may lose a lot. If you are a new bitcoin (BTC) investor, there are some major things you should know and have to do before you get started.

- Do your research
- Don’t force yourself into it
- Invest in other cryptocurrencies
- Keep your assets secure
- Prepare for volatility

To know more, visit here <> Tips for new Bitcoin investors

The bottom line is, keep your time and doing your own research will help much. You never know how much experience you will get when you work on your own to know the benefits of investing in Bitcoin. sometimes we only need our own self to try the things we really wanted and keep pursuing our goals until we manage to understand how it works.

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November 10, 2020, 03:41:09 AM
 #14

Quote
3. Invest in other cryptocurrencies

Most of the experts would say that don't get more excited about Bitcoin that could end up investing all your money in it. They suggest that, don't invest your entire money in one cryptocurrency ie., Bitcoin. Instead, make your investment in other assets such as Litecoin, Ripple, Bitcoin Cash, Tether, Ethereum, etc.

That's definitely one easy sure-fire way of destroying your credibility. It's funny how you even recommended investing in freakin Tether, a stablecoin lmao.

Why did he suggest to make an investment with tether 😂, it is like you  just save money in the banks with less than 0.125% annual interest rate. I only use stable coins for trading pair and not for long term investment because you will just waste a lot of time if you do it. The blog have more opinions than facts, I do not agree especially in the statement about what the author said which is "always aim for the long term investment". That phrase is so risky to follow especially if you are make investment with altcoins with low market capitalization. Long term investment is not preferable because most of the investors are only riding the hype then switching to other altcoins. They do not stay for a long time in those shitcoins so expect that the shitcoins are losing its value as time passing by.
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November 10, 2020, 03:57:10 AM
 #15

_snip_
you have to be tricky, it has its risks and if you are not aware of it, you may lose a lot.
It doesn't have to be sneaky, just study the charts of the past and look for the right moment to start entering the market.

- Invest in other cryptocurrencies

What is this?
I don't think this is really necessary for new bitcoin investors. As you said in the first point, even investing in altcoins should do more research than bitcoin, including the background to the altcoin itself.
By the way, this is ridiculous advice from a content writer with more than 3 years of experience

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November 10, 2020, 04:31:17 AM
 #16

- Invest in other cryptocurrencies

What is this?
I don't think this is really necessary for new bitcoin investors. As you said in the first point, even investing in altcoins should do more research than bitcoin, including the background to the altcoin itself.
By the way, this is ridiculous advice from a content writer with more than 3 years of experience

In other words he just wants to create traffic on his blog generating income for himself.

I wouldn't really recommend a newbie to invest in altcoins. They are more volatile than bitcoin and some altcoins these days are scam. He should learn the basics of bitcoin first and understand the risk. Then he could visit some forums to start gain knowledge about different altcoins, what to look for before investing on it.

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November 10, 2020, 04:40:39 AM
 #17

If you want to invest in other cryptocurrencies, it will be back to number one because you need to research which coin you can choose as your investment. The Crypto market has so many coins, and that is not easy to find the coin. Perhaps, stick to the top 10-20 coins list will be a good idea, but you still need to find what coin can give you the profit.

But if you only want to invest in bitcoin, you can skip number three and only try to analyze the bitcoin market to find the right time to enter the bitcoin market. You need to be ready with the bitcoin price volatility because that will always change every minute and every day. If you can sell at a high price, then you can sell it right away. Otherwise, you can hold it for a long time to expect to make a big profit.

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November 10, 2020, 04:47:24 AM
 #18

- Prepare for volatility

Preparing for volatility; I hope you're not advising they go trying to take advantage of the up and down of the market by trying to outsmart it. If you're new in the space just stick to holding for the main time even though you do have interest in trading. Don't go jumping right into it as you might end up losing all you have invested. I always advice to use the profit you gains from holding to adventure into other sectors of the Industry like staking, farming, investing in alts etc and not to go with personal funds.

The best preparation would be to work on your metal capacity or state of been patience as that's the only effective attributes with less effort that can be used as a counter measures to tackle the volatility of the market. Trading is profitable but not for everyone while holding can be done irrespective of your experience in the industry





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November 10, 2020, 04:50:52 AM
 #19

- Do your research
- Don’t force yourself into it
- Invest in other cryptocurrencies
- Keep your assets secure
- Prepare for volatility
+ Never invest more than you can afford to lose. Everyone here knows how bitcoin is good, but new investors have to keep in mind it is still a very volatile investment, as you said, so things might not happen as planned by the investor on his time. Not only be prepared for the volatility, but also for the losses on short and medium run.
Bitcoin is the kind of investment you need to make and forget for a while or you can go crazy by its real time fluctuations!
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November 10, 2020, 05:00:56 AM
 #20

5. Prepare for volatility

Most of the investors would advise that the Bitcoin market is more unpredictable. If you are a new investor, you have to keep a strategy that helps to manage at the time of price fluctuations. Always aim for long term investments, don't get any temptation to get into short-term bets.
The bitcoin market is perfectly predictable because it has only been growing since the inception of bitcoin. Seriously, why should investors care about volatility? The volatility of bitcoin is just short-term fluctuations of its price while investing is supposed to be a long term activity. If you are searching for get-rich-quick schemes and short-term profits, bitcoin is not for you despite its volatility. Bitcoin is a profitable investment only for those who have low time preference and can wait long enough to appreciate the benefits bitcoin is able to give them in the future.

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