Beginners, you don't need Bitcoin first

[kizlod]

You don't need Bitcoin first, What you need is a JOB, work on that first.

Very useful advice, but I don't think many people will do this, even though many have the wrong mindset that investing and trading bitcoin can be the main job. They think bitcoin can save them from unemployment and give them income without having to work much.

Indeed, if someone is unemployed with a steady income, they are still struggling with every meal of the day and have no savings. It's best never to think about investing in bitcoin because it won't make them any better. Investing is only thought of when we already have savings, and even if that investment loses, it doesn't affect us because investing is risky.

I don't understand why they think that Bitcoin can be the job itself. Unless you're some kind of public figure or trader, but it's some kind of job already.

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[Gulttam2a2]

You have brought up beautiful words of advice. Newbies jump right into investing in Bitcoin. Investing in Bitcoin is no longer profitable and requires patience. If you invest all your money in Bitcoin,you will face many problems to make a living later on. Bitcoin is a platform where everyone is willing to invest. I have also invested in Bitcoin. I first came to know about it and then invested in it. I have invested in Bitcoin from my separate income so I don't face any problem.

[Blitzboy]

Obviously those who have shared that same stories about making investment a big issue when they still have no work/job to get money as capital are mostly bounty hunters that have been lured by friends and family to spend their time here in forum for few bucks , I am not making it bad for them but you are correct as many of those people have no literal work and education and only find this forum as a bread and butter.
when they carry to have a internet and gadget ? then starts posting here and making money from all areas of crypto that they can manage to earn from small to big amount.
and yes they are also the weapon of those scam sites to spread their site from bounty hunters that sometimes almost willing to become a victim.
I strongly agreed in your presentation here mate though sad to admit but we will not earn anything from those as they also have no choice , maybe some of them cannot find a decent or even a not decent job?
some of them find this place as easy money making area?
that is the sad reality and we must bare with it as lets not be affected of what they say instead let us act for what we believe is true and what is the true value of investing .

Its true that our forum give bounty hunters who rely on crypto a platform, which might cause anger. We mustnt overlook the big picture. This space promotes decentralization and financial inclusion for everybody. If bounty hunters can earn through cryptocurrency, it shows that the internet has democratized wealth-building tactics. We should analyze their tactics rather than dismissing them. Scamming is a huge problem, and we must all be careful, but labeling all bounty hunters is not the solution. Educate and make everyone safer

[Alpha Marine]

What if the person doesn't want to hodl Bitcoin?  What if he wants to use it as a means of payment,  or he just wants to keep it in Bitcoin for the short term so the money doesn't lose value due to the inflation affecting the value of his local currency?

I agree that everybody needs to get a source of income at least before having Bitcoin as an investment,  but I don't think this applies to people who do not want to hodl.

I understand your point that bitcoin investment is solely for the financially buoyant people and it is true because of the volatility it possesses.

OP never said you have to be "financially buoyant".  He said you should have a job or a source of income.  This means you should have something can fall back on in troubling times.  Like times when the price of Bitcoin is dropping or times when you need money for something.  If you don't have a source of income or a job,  in times like this,  you'll panic and sell off your Bitcoin.

[Razmirraz]

Newbie can not always be called a Newbie. Those who are new to the Bitcoin market are called Newbies, but not all Newbies do not have sufficient knowledge of Bitcoin investment. Without Newbie there is no Senior, those who have become senior investors start from Newbie. Sufficient capital as a complement in the Investment process, those with sufficient capital are calmer even though the price of Bitcoin is moving sideways.

It doesn't matter where the source of money is used for Bitcoin investment as long as you have mastered the knowledge of investing, knowledge will lead someone to be more calm, patient and relaxed when there is a downturn in the market. This is only limited to your assumptions in my opinion, anyone can invest in Bitcoin as long as they are equipped with knowledge and skills. A person's character is formed from small things and failures in the past, courage in taking action will pave the way to success.

[TheUltraElite]

Skills, education and experience to get into a job and have a stable income is the first priority but that sounds like a lot of grind for many of the youngsters in this forum and hence they dont want to start on it. While we also have some blokes here who preach the "I never got any degree but am rich AF" and that sways these youth in the wrong direction.

Bitcoin is a currency and needs an exchange to be bought from using fiat or some altcoin. You cant just create it out of thin air, forget about mining for now. Hence work on yourself first and then when the time is right every one will get the chance to invest.

[KiaKia]

All glory belongs to the Almighty, my crypto journey was hell but I have no other choice but to go the hard way, it's true that money makes investment more easier but I don't even have a rich parent, the money my father and mother made from their jobs are all going for rent and bills, I had no choice but to start with airdrops so if anyone on here is in same position as I was years ago, do not think that having money is everything.

Op has a valid point but crypto have few ways of supporting those that have no other way, I know job is the answer but I couldn't because here you can't easily find a available position to start working, job is very scarce and poverty rate is higher.

Crypto introduce testnets and few airdrop platforms are still working, it's a good place to start and if you don't give up you can get lucky, do not give up on yourselves if you can't find a job, some people are still making money through testnets.

[Yaunfitda]

Newbie can not always be called a Newbie. Those who are new to the Bitcoin market are called Newbies, but not all Newbies do not have sufficient knowledge of Bitcoin investment. Without Newbie there is no Senior, those who have become senior investors start from Newbie. Sufficient capital as a complement in the Investment process, those with sufficient capital are calmer even though the price of Bitcoin is moving sideways.

I think the point of the OP is that newbies easily jump on the bandwagon and that is bitcoin and think that they will be instant millionaire. And the worst thing is that they don't have a job or might be not be earning enough money to be a investor. And with that they don't have sufficient capital to start and so they borrow money from others.

It doesn't matter where the source of money is used for Bitcoin investment as long as you have mastered the knowledge of investing, knowledge will lead someone to be more calm, patient and relaxed when there is a downturn in the market. This is only limited to your assumptions in my opinion, anyone can invest in Bitcoin as long as they are equipped with knowledge and skills. A person's character is formed from small things and failures in the past, courage in taking action will pave the way to success.

It will be a big learning curve for them, but hopefully they will learn from it and became a bitcoin holder. And won't borrow or take a loan from people or even bank. And with a stable job, they could be a successful investor as they have source of money then.

[fauzan Ichsan]

knowledge is the most important capital in investing in bitcoin, for beginners, don't rush to invest before understanding it, because that will shape our attitude in investing, and make provisions for facing problems. even though they already have cold money capital, they still don't have knowledge, I think I can hold off on investing, because many people have failed due to their ignorance in dealing with bitcoin. don't worry about missing the price, because there will always be opportunities at the right time. therefore don't get bored to learn

[summonerrk]

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You don't need Bitcoin first, What you need is a JOB, work on that first.

That's right, work is first of all stability. You cannot trust your life to chance in the crypto currency market, because inexperienced traders lose everything. And I understand that this trade is aimed specifically at inexperienced users. At the beginning of the cryptocurrency path, one should be careful and invest the extra amounts earned at work. And I advise for beginners who want a quick result to invest in unknown coins. Bitcoin is not agile and its growth is long. And for those newbies who already have a deposit, and want a slow but stable income, I advise them to invest in bitcoin. But to buy it only at the bottom.

[FinneysTrueVision]

If you are unemployed but really believe in Bitcoin then you should do everything in your power to find ways of earning it through your own merit. Putting most of your money in Bitcoin is not necessarily a negative thing because there is no currency that is 100% safe from risks. As long as you have a steady source of income it is your choice how much you want to keep allocated in Bitcoin but you will have to be willing to make some sacrifices whenever the market is heading downwards.

[Fivestar4everMVP]

You don't need Bitcoin first, What you need is a JOB, work on that first.

As much as you are right with the advice, we the readers always assume that anybody who comes on and wants to invest in bitcoin should already have a stable source of income, or atleast something to fall back on and not look at selling their just bought coins in times of minor financial crises..

Anyways, if there be truly any one who uses their pocket money to invest in bitcoin (aside a student of course), that indeed is not the best way, like op have said it, buying bitcoin for future profit when such individual have no reliable source of income will only lead to a life of financial frustrations as an investor, for such a person, i will advice that, if he or she can not find a job, atleast, start a business, for me, starting a business is even way better than getting a job and depending on salaries, atleast, if you have your own business running, you have more free time for yourself to do other things, like other side hustles, and another idea is cryptocurrency trading, that also is another good source of income is the person will sacrifice the time, effort need to gain good knowledge of it.

[lienfaye]

You don't need Bitcoin first, What you need is a JOB, work on that first.

Exactly. Some investors are thinking investing in Bitcoin can give them profit in a short period. Relying solely with this investment and having high expectation to the point they already count and plan the profit that has never been achieve yet. What investors should do as newbie is fill their mind with knowledge to understand the nature of investing in Bitcoin. If you already know the risk and the possible thing to happen when you invest your money, you'll then grasp that it's not wise to only rely with Bitcoin.

Therefore, it would be better that you have other source of income or a stable job before engaging yourself. This way, you don't have to depend to anyone for your financial needs and can invest freely to Bitcoin using your own money. Moreover, you're capable enough to invest more and not relying solely to your investment.

[retreat]

I have read some interesting stories of few members on this forum that did all they could to buy their first set of BTC years ago and also how they made it through the journey, but one thing that I found missing from those stories is a secured job..

-snip-

That's right. Most beginners who invest in Bitcoin are those who don't have a steady job and want to get a jackpot from investing in Bitcoin. They usually invest money they shouldn't, such as savings or the proceeds from selling goods. Even though investing in Bitcoin requires careful consideration, because it is different from other investment instruments, it tends to be unstable and anytime the value of their investment will decrease. So at a minimum, if you want to focus on investing in Bitcoin, the first thing you must have is to have a steady job or stable income, so that it will back up your investment.

[Jawhead999]

Bitcoin is just one of asset that used for investment, so if you're not work or have a lot money, how can the beginner can buy Bitcoin?

However even you already have enough money to buy Bitcoin, don't blindly invest in Bitcoin when you don't have good knowledge and good reason to buy it. I think if people still don't know the difference between non custodial wallet and custodial wallet, Bitcoin and bank, decentralized exchange and centralized exchange, they shouldn't invest in Bitcoin yet.

[Bazzu]

investing in bitcoin is of course very risky, and investing in btc would be better to use money that is ready to lose, because if our invest with money that is not ready to lose, of course it will affect the fundamentals, so what you say is true if we don't have a job, don't invest first because usually if you don't have a job, the money our use for investment usually always uses money that you are not ready to lose.
but in this case it's up to the person who will invest because everyone has a different strategy in investing.
but if we are ready with the risk, of course there is no problem.

[reagansimms]

You don't need Bitcoin first, What you need is a JOB, work on that first.

The majority of investors who hold Bitcoin already have a source of income from routine daily activities, rather than having their money kept at home, saving at a bank or buying commodity assets, they prefer buying Bitcoin which is believed to be safer and can provide returns in the future. For those who still depend on their family or are still unemployed, it is not the best decision to buy Bitcoin using their pocket money.

There is no prohibition for anyone buying Bitcoin, it is necessary to pay attention to a regular source of income to finance his life before buying Bitcoin. Bitcoin price fluctuations need to be considered by newbies who want to invest in Bitcoin using pocket money, prices can change at various times, from minutes, hours, daily, weekly to yearly.
I agree Newbie needs to find a job to finance his needs, the rest is stored in Bitcoin.

[Ale88]

Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money,  it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.

You don't need Bitcoin first, What you need is a JOB, work on that first.

The first rule when you invest, no matter what you're investing in, is to risk only what you can afford to lose. If you're still young and you actually get what bitcoin is, what it represents, and how it could change the world, personally I would take that risk even if I'm 15 years old and the only money I have comes from birthday and Christmas gifts because I may be missing an incredible opportunity to change my future.

I agree with what you're saying but if you're still a kid then you won't be working for several years and at the same time you still have your family helping you so probably your little savings won't make a big difference in the next years. Just my idea of course.

[Solokan]

your advice is very good op because there are indeed many people who are still beginners in bitcoin who feel disadvantaged as a result of investing in bitcoin because the price of bitcoin is falling and finally a beginner sells his bitcoin out of panic.

and in my opinion investing in bitcoin should not be made a main job, because in my opinion investing in btc is very suitable as a side business.

[crwth]

First, you would need money to buy it or at least find a way to make money to buy it. Usually, it's about making money with the reason you get into Bitcoin. I think those are the most common reasons why we get into Bitcoin. That's the reason why I discovered it in the first place. It's different for everyone, though. I do hope real beginners get to see this as well because they are the ones who will get motivated with this.