How to overcome the link between Beginners and Bitcoin Anxiety.

[HajiBagi]

Fear is a natural emotion, and we all experience it every once in a while. However, buying bitcoin as a beginner and dealing with the volatility can be traumatizing due to the volatility anxiety, it startled newbies when they saw their bags decline; it makes one feel like they are losing everything for a first-timer, but that's just part of the holding process.

Price volatility is what distinguishes bitcoin, the fear of it dropping to zero should never enter your thoughts, it has never occurred and is unlikely to occur. If you are new to bitcoin and have discovered that it has been driven down by price fluctuation or worry, here are some things you should do:

(1) Detailed understanding of the nature of Bitcoin: It is important that you understand what bitcoin is all about; it is not about purchasing when the price is low and selling when the price is high. It's essential that you know the details of what you're buying and holding, you'll be amazed to discover that the more you learn about bitcoin, the less worried you'll be about price volatility.

(2) Always ignore the FUD: Bitcoin has been around and would continue to stay for people who believe in it, don't listen to fake rumors, bitcoin says you shouldn't trust anyone but verify it yourself.

(3) Avoid investing money that you badly need: In order to avoid worrying about the price later in the day, you should never borrow money or use emergency funds to buy bitcoin. Bitcoin is not a fast get rich fast on the internet investment.

(4) Take a break and take care of your health: Not everything in life should be bitcoin, therefore check on yourself, make an appointment with your health instructor, listen to the advice, and spend more time with your loved ones and family, your bitcoin will never run out as long as you keep them secure.

(5) Stay informed: There are other reliable sources that generate great material on bitcoin, that may also assist you when you need solid information about bitcoin. If in doubt, check such platforms and learn more about bitcoin.

(6) Stay positive: Your goal should be what motivates you to acquire bitcoin from the start of your journey, don't change your goals because you're afraid bitcoin will fall to zero, your goal should constantly ring in your brain; it will keep you stronger and better as you progress.

There are could be more information that may help you break the bond of fear as a bitcoin holder but these points are valid and will help you as a bitcoin holder who is new to bitcoin, it will help you fight that fear and the things that will discourage you from BITCOIN.

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[jackg]

Why is number 3 not number 1? Investing more than you can afford to lose before you understand the technology can just be throwing money away. Once you know what you're doing and have a few months or years of practical experience then investing what you can afford makes more sense (but not investing what you're going to need soon).

People new to bitcoin might also do well by discovering hodl. It can make you miss selling at the ath but it's ultimately quite a bit safer (but don't hodl for too long without checking back and keep an understanding of how to send transactions).

[un_rank]

Great thread. It sums up many of the advises I have learnt here over the last couple of months into a concise write up.

When it comes to avoiding the fud, I would suggest that we do not simply ignore anything about bitcoin which does not align with our understanding of it. Stay open minded to opinions against it and do your research before ruling it out as baseless.

- Jay -

[Sanitough]

Great thread. It sums up many of the advises I have learnt here over the last couple of months into a concise write up.

When it comes to avoiding the fud, I would suggest that we do not simply ignore anything about bitcoin which does not align with our understanding of it. Stay open minded to opinions against it and do your research before ruling it out as baseless.

- Jay -

I agree to that. OP has made a great list that will help not only newbies but all the members in the forum especially those who keep repeating the same mistakes again. There can be no fears and losses in bitcoin if we just stick to the basics, never invest what you can afford to lose and always avoid the FUDs. The market may be uncertain most of the time but if we know how to deal with it, we will likely to benefit in the future. Just stay patient and always manage to learn every single day by having DYOR.

[drwhobox]

(3) Avoid investing money that you badly need: In order to avoid worrying about the price later in the day, you should never borrow money or use emergency funds to buy bitcoin. Bitcoin is not a fast get rich fast on the internet investment..

I have seen so many people buy bitcoin with borrowed money, or with emergency funds. Later they regret the decision and labeled bitcoin as a scam or spread negativity about bitcoin. All they think is that bitcoin some quick rich scheme, and out of greed they did such investments.
Op your thread worth reading.

[Ndabagi01]

(1) Detailed understanding of the nature of Bitcoin: It is important that you understand what bitcoin is all about; it is not about purchasing when the price is low and selling when the price is high. It's essential that you know the details of what you're buying and holding, you'll be amazed to discover that the more you learn about bitcoin, the less worried you'll be about price volatility.

I think those wanting to become rich overnight are more worried about the price volatility. When I stock for a long time, I don’t need to be checking the price more often because it’ll only demoralize me and give me fear of wanting to exit the market especially when one is not well prepared for it.

(3) Avoid investing money that you badly need: In order to avoid worrying about the price later in the day, you should never borrow money or use emergency funds to buy bitcoin. Bitcoin is not a fast get rich fast on the internet investment.

Greatly frowned against, this is not advisable and it’s very dangerous to do.

(4) Take a break and take care of your health: Not everything in life should be bitcoin, therefore check on yourself, make an appointment with your health instructor, listen to the advice, and spend more time with your loved ones and family, your bitcoin will never run out as long as you keep them secure.

This is necessary especially for those that are not prepared for it, the anxiety and high expectations could immediately cause you to be sick. Seeing a Doctor for checkup is very important when you’re new into bitcoin with high hopes of becoming rich overnight.

[Vyeon11]

many beginners who start investing in bitcoin still think that by investing in bitcoin they will get rich quickly, even though that is wrong and the intentions they instill are not right.
even though there is no such thing as an investment that is as fast as lightning, everything needs struggle, process, and patience.
so for beginners it's better to fix the right intention in investing, so that the mind and heart are calmer in doing it.
and number 3 is the right thing and I agree, investing must use money that will never be used first, don't use hot money in investing, because that will cause excessive anxiety and have an impact on your psychology in investing.

[Darker45]

The list is quite long but the only way to overcome anxiety is to fully know beforehand that what you are getting into is volatile. So expect volatility! There are some who would be surprised to see Bitcoin's volatility and would even panic upon seeing their portfolio's value casually dropping double digits. Why, didn't you know before you bought that Bitcoin is volatile? What were you expecting, that Bitcoin's price would just soar non-stop without ever correcting or reacting to news, FUD, and other factors?

It's probably premature entry that causes all this anxiety.

[Solosanz]

(4) Take a break and take care of your health: Not everything in life should be bitcoin, therefore check on yourself, make an appointment with your health instructor, listen to the advice, and spend more time with your loved ones and family, your bitcoin will never run out as long as you keep them secure.

It depends on each person understanding to know how secure is their Bitcoin.

Some people leave their coins on exchange and they say it's secure since Binance has SAFU and Binance always recover their funds during hack case.

Some people leave their coins on web wallet and they say it's secure since they've back up the seeds and they've hold for 5 years without any problem.

Some people leave their coins on hardware wallet and they say it's secure since hardware wallet is offline and there's no way virus or keylogger can attack cold storage.

But they just not realize if centralized exchange and web wallet are have low security, it will different if they're a FTX holder or their device infected with virus. So everyone must understand if holding in hardware wallet is a must without any exception.

[UchihaSarada]

Fud is a new termionlogy I learned from cryptocurreclncy market.

I did not know what is fud before I was in crypto market.

Honestly fud is terrible for beginners but they must be familiarized with fud.

[Franctoshi]

Good points, But generally all the points you've listed here is summarized by proper Bitcoin education, When you have proper education and good understanding of whatsoever thing you do precisely when it comes to investment,  your problems with the stuff becomes lesser.

Just like me when I got zero knowledge about Bitcoin, I found everything so confusing with what and what that is actually going on with Bitcoin at any given time, and as regards to what to do. For instance (Bull and bear market).

So I would always advice every beginners to first get proper Bitcoin education before investing their hard earned money.

[sunsilk]

(5) Stay informed: There are other reliable sources that generate great material on bitcoin, that may also assist you when you need solid information about bitcoin. If in doubt, check such platforms and learn more about bitcoin.

This includes verifying information that we see on the web. Not just because it's published by a known publishing website, we should make ourselves informed that not all information that's circulating on the web are 100% accurate.

And in that case, we have to gather information and look for other sources if it's possible to check and verify if the news or information that we've seen related to crypto or anything inside the market is verified and accurate.

[SOKO-DEKE]

(1) Detailed understanding of the nature of Bitcoin: It is important that you understand what bitcoin is all about; it is not about purchasing when the price is low and selling when the price is high. It's essential that you know the details of what you're buying and holding, you'll be amazed to discover that the more you learn about bitcoin, the less worried you'll be about price volatility.

That is the one of factor that many people doesn't understand at all.all thinking shouldn't be about just buying and selling of Bitcoin to make profit, but how you can be your own bank without allow any third party to  have control over your funds.i can see many people are holding because of making only profit from it not because  they want to be their own bank, and that is why they never know much about the Bitcoin blockchain and consider keeping theirs funds on exchanges.let try and learn unique about Bitcoin, price is the only reason why Bitcoin come to stay with us.

(3) Avoid investing money that you badly need: In order to avoid worrying about the price later in the day, you should never borrow money or use emergency funds to buy bitcoin. Bitcoin is not a fast get rich fast on the internet investment.

Bitcoin price is not stable, it do always fluctuate because of it trading system. So putting all your money in bitcoin is a risk because you don't know what will happen next.so that is why they do always advise us to only invested the money we can afford to lose.

(4) Take a break and take care of your health: Not everything in life should be bitcoin, therefore check on yourself, make an appointment with your health instructor, listen to the advice, and spend more time with your loved ones and family, your bitcoin will never run out as long as you keep them secure.

Our health is one of the main important thing we have to always consider in whatever we are doing, because no good health nothing more again.so creat yourself more time to look after your health. Bitcoin shouldn't be where we should spend all our time and money on.

[Lucius]

However, buying bitcoin as a beginner and dealing with the volatility can be traumatizing due to the volatility anxiety, it startled newbies when they saw their bags decline; it makes one feel like they are losing everything for a first-timer, but that's just part of the holding process.
---
(1) Detailed understanding of the nature of Bitcoin: It is important that you understand what bitcoin is all about; it is not about purchasing when the price is low and selling when the price is high. It's essential that you know the details of what you're buying and holding, you'll be amazed to discover that the more you learn about bitcoin, the less worried you'll be about price volatility.
~snip~

Given that you have nowhere mentioned what the true essence and value of Bitcoin is, and you are talking about the traumas caused by the price change and how it is not all about buying cheap and selling high, your sentence constructions are a bit strange to me.

The one who only buys Bitcoin in order to sell it at a higher price will never understand what the true value of Bitcoin is - and that is the use of Bitcoin as a cryptocurrency that is completely decentralized and independent of what your president, central bank governor or anyone else thinks about it. To think is one thing, to act is something completely different, and we really miss the latter.

[Finestream]

The list is quite long but the only way to overcome anxiety is to fully know beforehand that what you are getting into is volatile. So expect volatility! There are some who would be surprised to see Bitcoin's volatility and would even panic upon seeing their portfolio's value casually dropping double digits. Why, didn't you know before you bought that Bitcoin is volatile? What were you expecting, that Bitcoin's price would just soar non-stop without ever correcting or reacting to news, FUD, and other factors?

It's probably premature entry that causes all this anxiety.

Having lack of knowledge in bitcoin will always be a disadvantage when you start investing in bitcoin because you won’t fully understand how bitcoin works and how volatile it is. The reason why a lot of us here still expecting that bitcoin is a get-rich-quick scheme and that they maximize their bitcoin accumulation when the price is on top. Because of this, these people end up having bitcoin anxiety because they never see the negative side of bitcoin and they were never completely informed in the first place about bitcoins high volatility.

[Vaculin]

The list is quite long but the only way to overcome anxiety is to fully know beforehand that what you are getting into is volatile. So expect volatility! There are some who would be surprised to see Bitcoin's volatility and would even panic upon seeing their portfolio's value casually dropping double digits. Why, didn't you know before you bought that Bitcoin is volatile? What were you expecting, that Bitcoin's price would just soar non-stop without ever correcting or reacting to news, FUD, and other factors?

It's probably premature entry that causes all this anxiety.

You have a good point. Stay informed and you will never get lost and experience bitcoin anxiety in the process. Being knowledgeable and you completely understand the basics in bitcoin will make you get rid of bitcoin anxiety. Although not totally get rid of it, but at least you know how to avoid it because you’re fully aware that bitcoin is always volatile and it’s price will always be affected whatever big news that hit the market, so always be prepared for it and never expect that bitcoin will always stay being bullish.

[Viscore]

Great thread. It sums up many of the advises I have learnt here over the last couple of months into a concise write up.

When it comes to avoiding the fud, I would suggest that we do not simply ignore anything about bitcoin which does not align with our understanding of it. Stay open minded to opinions against it and do your research before ruling it out as baseless.

- Jay -

Do not just avoid FUDs but learn not to live with it. Because if you get carried away by some irresistible FUDs, you will resort into making wrong decisions in the crypto market that will eventually make you lose from bitcoin investments. Also, stay updated when it comes to bitcoin so you won’t keep on doing the same mistakes again that will develop bitcoin anxiety.

[Nheer]

(4) Take a break and take care of your health: Not everything in life should be bitcoin, therefore check on yourself, make an appointment with your health instructor, listen to the advice, and spend more time with your loved ones and family, your bitcoin will never run out as long as you keep them secure.

Your health should always come first in everything you do in life. People often say that health is wealth and that only those who are still alive can consider becoming wealthy or even earning money. Hence, even while trading bitcoin, we should use the approach of visiting a doctor periodically for a checkup.

(6) Stay positive: Your goal should be what motivates you to acquire bitcoin from the start of your journey, don't change your goals because you're afraid bitcoin will fall to zero, your goal should constantly ring in your brain; it will keep you stronger and better as you progress.

As a new bitcoin user, you should keep in mind that the price of bitcoin is constantly fluctuating and is influenced by a variety of factors. As a result, you should prepare for the worst. Just be committed to your goal of joining and never lose sight of your objectives or give up because bitcoin is not performing properly. Novice bitcoin users frequently struggle with the issue of investing even though their financial situation is unstable; they will even borrow money since they have heard about others using bitcoin to make money and want to be involved as soon as possible.

[Peanutswar]

Newbies always engage with bitcoin and other cryptocurrency assets because they knowhow doe the story of other people making huge amounts of money with this and I guess this is one of their mistakes too not all the time bitcoin gives a huge amount of profit to those making an investment they sometimes get easily influence with other people which is towards a mistake of cutting their current position of investment makes towards of losing instead of trusting with the process and with a proper plan of executions. Based on my experience the best advise is always to keep yourself knowledgeable if you can make an investment with an asset invest with the information too so you'll not get left behind.

[Merit.s]

(2) Always ignore the FUD: Bitcoin has been around and would continue to stay for people who believe in it, don't listen to fake rumors, bitcoin says you shouldn't trust anyone but verify it yourself.

This has been the major problem bitcoin is facing,criticism from people and social medias on what is not true. It affects newbies a lot and might lead to selling of their investment due to panic.

(3) Avoid investing money that you badly need: In order to avoid worrying about the price later in the day, you should never borrow money or use emergency funds to buy bitcoin. Bitcoin is not a fast get rich fast on the internet investment.

This with number five are in align with each other.
Investing in bitcoin is similar to gambling and for this reason, only funds that we can afford to loss should be what we invest, so that if the market is not in our favor, we don't get frustrated because the money was meant for another purpose. If you invest with the money you can
afford to loss,this will motivate you to invest in a long term to gain profit and to also stay positive on your investment.