Being Knowledgeable before Bitcoin investment is very Good

[laurenB7742]

So, look for someone on this forum whose prediction is always accurate, and follow his/her Bitcoin investment advice. But note he is a very religious person who completely relies on the CREATOR of the Universe for success in his predictions.

Do you have any suggestions? Because I've never seen anyone make predictions that are always right. No one has a crystal ball to know about the future, if someone can easily predict bitcoin, is investing in bitcoin still enjoyable? Moreover, no matter how good the person is, they shouldn't follow their advice. Why don't we do our own research and learn everything and the advice of others should only be for reference, not follow them? Maybe the method, that advice is good for them, but it doesn't mean it will be good for us.

[2Pizza410000BTC]

I don't have much experience with bitcoin investing but I recognize that one must be informed about all the investment knowledge before investing in bitcoin. If someone does not have proper knowledge about investment, he should refrain himself from investing. Investing without due consideration can certainly lead to investment losses.

[Faisal2202]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Dear op, as you did not mention the type of investment in BTC, Which is holding or trading. So, it becomes difficult for me to answer, So for your convenience, i will share my opinions in both ways.

For Traders
If you want to invest in BTC and perform trading then as a newbie you should learn the basics of Crypto, and how to become a profitable trader. And to become one, you need to make real efforts. As you mentioned, the investor had money but no knowledge, and that person is not looking for knowledge instead looking for someone who could do the trades using his money and earn him money while he is doing nothing. This includes risks for both parties not only for the one who has money but scams could also occur with the knowledgeable person who will approach that member.

So, if you are a trader following thread will help you.

• Beginners Should Follow These To Be A Good Price Predictor
• What are the steps in understanding technical analysis?
• New to Trading - Tips and Suggestions (V1) Getting Started
• How do you come up with reliable predictions for prices?

For Holders
If you want to invest in BTC for a longer period of time then there is less effort here. As you have to follow some simple steps which are:

• Always, make your mindset about the profit you are expecting from your investment. Do not make a fool of yourself by earning a lot by investing little.
• Always perform DCA, do not buy all BTC in one go, by doing DCA you could increase your profit ratio.
• Take measures to store your BTC for a longer period of time. Many holders mistakenly hold their assets on exchanges which is not the best practice. I have a recommendation for you of a thread that might help you out -->Things to keep in mind before accumulation of Bitcoin

[Kakmakr]

Well, this forum is the best place to learn more about Bitcoin and Alt coins and the worst place to get investment advice. I say this, because there are very knowledgeable people on this forum, but there are also a lot of scammers and Alt coin shills on the forum.

The main thing to remember is this... "Buy Low / Sell high" ....the rest is just noise and speculation. Also, when it sounds like something that is too good to be true, then run the other way. (Red flag for a Ponzi scheme) 

[jeraldskie11]

I feel that we all require guidance since no one can become intelligent if he does not accept advise. But, before you apply the advise to your life in general, you need conduct some research to establish that it is helpful. Similarly, there are several trading advice available, but not all of them will benefit you; some will simply take advantage of you or cause you to lose money because you lack sufficient understanding. That is why conducting self-research is essential; you must walk not what others say, especially if the individuals giving you advise are strangers or people you do not know. This method will help you in becoming a successful trader.

[Captain Corporate]

It took me years before I can understand what "investment" really means. Not that I didn't know how to do it, its not the part where you buy and sell, technical part of actually buying something is not really that difficult, you just open an exchange account and trade, that was always easy. But that doesn't mean that I knew what investment meant, how to make profit, how to save, how to put on top of each other and bring it to a new high, then make a big adjustment during bear and bull periods all individually. Things basically became a lot easier to understand in the last 2 years or so, I made a lot better moves and I am hoping that it will continue down like that for as long as it could go. This way is much better for investing for me.

[Outhue]

has $20k and still asks others for investment advice.
Is he a wealthy man with many businesses that he doesn't think about the safety of $20k on someone else's investment advice?

Although those who persuade and give advice are not scammers, it will not be a good investment.
No one will be responsible for losing $20k in an investment, it is a risk that will still be borne by yourself.

I saw that thread a few days ago, but in the opinion of many, the story of the man who has 20k dollars and needs investment advice from others is more of a scam than a fact. For those willing to invest large sums of money, they would not foolishly turn to strangers for investment advice. Unless his intention is to scam rather than seek real advice.

Returning to this topic, I agree that having knowledge before investing is necessary not only with Bitcoin but in every field because knowledge will always be the key to our success.

It's unlikely to be true, someone with 20k for investment can have other motives or they are nervous and don't know where to invest their money, such people are not ready to lose such an amount of money that's why they have fear and they only have the option to ask others opinions, it's fine with me.

If possible that this person is trying to scam, they would come up with a strategy, I don't see any trick of trying to fool or lure people for any selfish reasons, maybe you do but I don't.

Some people have the money but they don't have the patience to put that money aside first and go into full learning mode first.

[Franctoshi]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advise him on how to go about it, for me it was a bad idea to consort everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such losing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing their knowledge on what someone that does not know investment should do before venturing into it.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views, and knowledge in case something like this should come up, so people could learn and know what must be done before going into investment.

Doing personal research is the best approach to any investment, However, consulting people's advice does not necessarily mean that you would do things based on that advice but hearing from  others' perspectives to come up with a better conclusion on what to do after you must have done your research. There are some points in your life where you get a bit confused with deciding on what you are not good at or familiar with and would be needing to get opinions from people whom you think might have more experience than you do.

[Sebas.tian]

Well, this forum is the best place to learn more about Bitcoin and Alt coins and the worst place to get investment advice. I say this, because there are very knowledgeable people on this forum, but there are also a lot of scammers and Alt coin shills on the forum.

The main thing to remember is this... "Buy Low / Sell high" ....the rest is just noise and speculation. Also, when it sounds like something that is too good to be true, then run the other way. (Red flag for a Ponzi scheme) 

Yes, many people has used this platform to acquired Bitcoin and cryptocurrency investment knowledge and they are doing well in their investments, because they dedicated their time and focus in this platform. The real people advise will always march with your personal research that will improve your knowledge in Bitcoin investment, because scammers advise will always go wrong with your personal research, and it always come in a short cut that will make you to regret in your investment in the future. Those that learned from this forum on how to buy when the price is low and sell when the price is high are doing great in their Bitcoin and cryptocurrency investment, which is the best way to achieved Bitcoin and cryptocurrency investment knowledge.

[lovesmayfamilis]

It seems logical for everyone that the one who has a large amount and wants to increase it must know well where and why he invests his money. Listening to strangers and loved ones removes responsibility from oneself for probable future losses. If such stupid people can blindly invest money, having no idea who they trust with it, then I think they should not even feel sorry for themselves. Such people will make mistakes until they hit many bumps and gain the necessary experience.

[Luzin]

It seems logical for everyone that the one who has a large amount and wants to increase it must know well where and why he invests his money. Listening to strangers and loved ones removes responsibility from oneself for probable future losses. If such stupid people can blindly invest money, having no idea who they trust with it, then I think they should not even feel sorry for themselves. Such people will make mistakes until they hit many bumps and gain the necessary experience.

The findings will work better if we have good knowledge. So starting without knowledge is bad. Although in the end he will learn from his mistakes. Having knowledge will be more useful, when you set the pace and reduce errors. So supposedly people will have management and be careful. It is human instinct because they have a fear of mistakes. Simply put, it can indeed be said to sell expensive and buy cheap. But in practice it is quite difficult and knowledge is one way of finding that.

[BD Crypto]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general,

Being Knowledgeable before Bitcoin or any investment is not only very good but it's a must. You are investing your real assets so you have responsibility to know the deep about your investment and how it works and what are the advantages and also what are the disadvantages.

I want to say about this guy who is going to invest 20k $ his speech is quite suspicious. Because no one is going to tell the amount of investment in a open place where well wishers and scammers stay both. I am not telling forum is a place of lot of scammers but some are remain. By the way for me the best investment is Bitcoin and I will also suggest him and he could ask about the right time to invest. Then the answer will be "When people are selling, It's the best time to buy".

[Minecache]

has $20k and still asks others for investment advice.
Is he a wealthy man with many businesses that he doesn't think about the safety of $20k on someone else's investment advice?

Although those who persuade and give advice are not scammers, it will not be a good investment.
No one will be responsible for losing $20k in an investment, it is a risk that will still be borne by yourself.

I saw that thread a few days ago, but in the opinion of many, the story of the man who has 20k dollars and needs investment advice from others is more of a scam than a fact. For those willing to invest large sums of money, they would not foolishly turn to strangers for investment advice. Unless his intention is to scam rather than seek real advice.

Returning to this topic, I agree that having knowledge before investing is necessary not only with Bitcoin but in every field because knowledge will always be the key to our success.

It's unlikely to be true, someone with 20k for investment can have other motives or they are nervous and don't know where to invest their money, such people are not ready to lose such an amount of money that's why they have fear and they only have the option to ask others opinions, it's fine with me.

If possible that this person is trying to scam, they would come up with a strategy, I don't see any trick of trying to fool or lure people for any selfish reasons, maybe you do but I don't.

Some people have the money but they don't have the patience to put that money aside first and go into full learning mode first.

If they are really worried and not ready to lose such a large amount of money, why are they publicizing them and asking for help from strangers? In that case, I think if he wants to invest seriously, he will take his time to figure things out or get help from people he trusts because it's a huge amount of money. I also saw that thread, I don't know what his real motive is, I can't confirm that he's trying to scam people, but I don't believe what he says either.

[SamReomo]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Well, I don't think that the guy has done anything wrong by asking others advice because it's always better to learn about new things from well known investors in beginning. The guy asked for advice and the reputed members of the forum shared their opinions, and there is nothing wrong with that because they all shared their own interests and ideas. Once the guy got the advice then he should reverify each advice by further researching about it on Google, Youtube, and other platforms before putting his money into it.

I really don't think that anyone who has knowledge about crypto-currencies would advice others to invest in altcoins because most of them are totally useless and exist only for pump & dump schemes. The creators of those coins intentionally created the coins for the pumping & dumping to earn their revenue, and the exchanges listed those coins also for the same reason. However, I can't underestimate the fact that there are some good and useful altcoins that can be profitable if someone invests in them at right time, but almost 95% of altcoins are useless, and they are just there to grab naive investors money.

Although it's not fair to say, but you're also doing the same thing that the other guy did in his post. You are also asking for the advice of this forum members, but on the behalf of that person, and that's why I don't think that you will get anything new because the forum members are same and their advice will remain same. I think it should be better if you appreciate the advice of the forum members and then do your own research to further verify that the advice could be useful or not. I hope that will solve the issue of trust because after verification by oneself then it's one's own decision to invest in a thing or not.

[Z390]

The haste of making money fast is not easy to escape unless you don't have the money yet, and that's why I believe that your point is valid, if you don't have the money for investment you can have time to lead about Bitcoin and how to be safe in this crazy wild west.

I've learned a few things the hard way in crypto but I have heard about the worst cases of new investors that are close to me, that's when I understand that mistakes can be avoided only when you don't stop learning, and also your mistakes will be limited compare to those that don't create the time to study the most important things in Bitcoin investment.

[bayu7adi]

I think the first thing was research google to learn more and also the risk involves.

Google's credibility is insufficient for matters of finance such as this. From what I understand, Google merely presents content created by numerous individuals, without any official determination regarding their intentions, whether they harbor ill motives or any other intentions.

Given that, in my opinion, $20k is a substantial sum, I could allocate 10% of it to seek consultation from an expert in the financial field. Engaging with just one advisor will suffice, ensuring they are a reputable and trustworthy financial advisor who will not lead us astray into purchasing unnecessary items.

[Onyeeze]

The findings will work better if we have good knowledge. So starting without knowledge is bad. Although in the end he will learn from his mistakes. Having knowledge will be more useful, when you set the pace and reduce errors. So supposedly people will have management and be careful. It is human instinct because they have a fear of mistakes. Simply put, it can indeed be said to sell expensive and buy cheap. But in practice it is quite difficult and knowledge is one way of finding that.

If you have the knowledge of Bitcoin first before investing in bitcoin your are at safety because you will not being making a mistake in any of your investment time, Bitcoin is good to know the conditions before you plan to invest in bitcoins.

But I want to ask if everyone who is into bitcoins today have the knowledge of bitcoins before investing for bitcoins, some times it's good to make your own research and perform some practicals by yourself  to know what we will happen, it's good to learn my your own mistake or learn from someone mistake for any investment not only in bitcoins investment

[Ahli38]

Indeed prioritizing insight before making direct action is highly recommended. And that is indeed good enough to reduce the risk of loss at the start. I personally might have entered before when my knowledge was not sufficient. but I'm getting in bit by bit while continuing to learn more. My insight continues to grow as my experience increases. I also experienced many losses at the beginning of my investment. because in the past I did lack the necessary information and insight. It was only after experiencing a loss that I understood that insight and information were important.

But after we have enough insight into the world of crypto, be it in crypto trading or in crypto investment. then the insight that fills our heads alone will not be enough to avoid losses. Because I realized that in addition to insight, self-control and a strong mentality are also needed. Mentality is formed with increasing experience in exploring this field. So that we will understand the lesson about Psychological trading as time goes by and our experience. Meanwhile, we still have to master basic knowledge such as various kinds of analysis before starting trading.

[mirakal]

Not only is it very good, but it's a must.

You need to be well knowledgeable when you plan to invest in crypto, as that's the best way to minimize the risk and have a good chance of being successful. One of the major reasons why people fail in investing is because they are "too greedy." They easily fall for fake advertisements about returns that are too good to be true. So, if you have the basic knowledge, you won't fall for that.

When it comes to investing, there's one basic rule that I always remember:

"When the return is too good to be true, that's a scam."

Scepticism is a great tool in the hands of an investor, because this help investor to have some restraint when it come to a noticeable red flag, such as you mentioned, because for a project to promise a certain amount of return it becomes a red point for an investor because no team have guaranteed to allocate a price to the coin and since coin value depends on the demands.

So what the investor needs in this knowledge that would guide him/her through the investment-making period and this is the greater

There would be no problem in looking for that guide as nowadays it's easy to educate ourselves with the help of the internet. What we need to do is be resourceful, read more, and join a community like Bitcointalk, where we can gain unbiased knowledge.

[sokani]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general,

I understand your fears but I don't think it's actually a bad idea asking people for help on the right project to invest if it is done on this forum as you still need to make a decision after listening to all the inputs or suggestions. It is not as if anyone is forcing you to invest, you still have to DYOR and decide whether to give it a shot or not.

as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

As a newbie with zero knowledge about the right crypto project to invest, I wouldn't endorse researching google for help because such a person might stumble on some paid articles about a shitty coin or project without really knowing. Believe it or not those articles are really misleading, same goes to many online crypto videos and Youtube channels out there. There's is no other better project to invest your money in than Bitcoin and no other better place to gain valuable information and knowledge about cryptocurrency than bitcointalk.