Purpose of purchasing bitcoin!

[KiaKia]

Without the proper knowledge about Bitcoin, how will you know when to buy and when to sell? This is the mistake that many new crypto investors like making and they blamed Bitcoin itself, calling it names.

When you don't understand why you buy something and that thing cost you a lot of money you will be lost in panic, uncertainty, and fear, and this is what will mislead you into taking a wrong decision.

Knowledge should always come first in whatever we want to do, this is not about Bitcoin only but also about everything we want to invest our money into, you are at a greater risk if you plan to invest without any knowledge first, mostly importantly on something that's highly volatile like Bitcoin.

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[bittraffic]

It would be stupid of someone to buy something and not know what its purpose. You don't accidentally buy BTC because for someone nowadays, BTC is too popular.  And if you did buy even just a fraction of it, you know your purpose and its either for your investment or you wanna gamble.

I know one kid buy BTC just to impress his IG followers that he is into BTC. Now thats one heck of a purpose.

[zanezane]

just to simplify what is the purpose of purchasing bitcoin. People buy Bitcoin for different reasons like using it as an investment, to store value, as a payment method, for faster and cheaper remittances, or due to interest in blockchain technology.

[_BlackStar]

In life if purpose of thing is not known abuse is inevitable, I have come realizes that many people do not have purpose of purchasing bitcoin only buy because they've money and when anything went wrong they will be to lament or query people.

Buying bitcoin aimlessly - oh how did that happen?
The average trader buys bitcoin because they want to make profit regardless of how they develop their trading strategy going forward. In fact, I dare to say each of them bought bitcoin because have their own goals, so your assumption about things like the above are very unreasonable. Some buy bitcoin because they want to use it as means of payment - while others buy it to make profit.

Sometimes is good you ask yourself certain questions why am I doing this? What is my aimed for it?

Obviously - they think about it even if not all of them have the skills to manage it well. Bitcoin trading and investing is risky - sometimes you have to adjust your plan at a time and start over for some reason.

[justdimin]

It would be stupid of someone to buy something and not know what its purpose. You don't accidentally buy BTC because for someone nowadays, BTC is too popular.  And if you did buy even just a fraction of it, you know your purpose and its either for your investment or you wanna gamble.

I know one kid buy BTC just to impress his IG followers that he is into BTC. Now thats one heck of a purpose.

I think it's quite normal for people to not be aware of bitcoin, even in this world where crypto is wildly adopted and there are tens of millions of people who use it, there are still billions who have no idea about it as well.

However, I do agree that it would be pretty difficult to mistakenly get any, it's something that requires a lot of work to get, I mean not a lot of work but certainly not easy enough that you will mistakenly get it. Even in fiat there could be someone who dropped money on the floor and you could pick it up and mistakenly have money, crypto doesn't even have that. So short story long bitcoin is something you want to buy if you want to get it, that instagram kid definitely did the right thing, I hope he keeps it after showing it off.