Beginners, you don't need Bitcoin first

[bayu7adi]

I don't think that it will be difficult for a person if he is under the support of his parents.  This is like saving made from the extras of his allowance.  And I believe this is the best time to invest since all his needs are covered by his parents.  Then after graduating and in a situation where he is to attend for himself then, he can stop investing while holding the Bitcoin he has and look for a job.

Obviously, it is different if you are living alone and don't have a stable job.

That's fantastic! Learning to save in assets other than FIAT at a young age undoubtedly yields positive impacts when embarking on an independent journey. However, one should refrain from being too proud of their saved assets and using them solely for job-seeking purposes. In the world of investment, strive to ensure that your assets remain undisturbed by employment concerns. I believe parents will typically assist their children in securing their first jobs and introduce them to the realm of work.

I'd personally prefer it if the accumulated asset savings were employed for substantial goals, such as purchasing a house or acquiring a car, among other things. Make sure you have significant objectives for your investments and approach them with a strong sense of purpose to enhance the likelihood of achieving them.

Investing in pursuits related to job-seeking, like participating in boot camps or other similar ventures, can also be worthwhile.

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[Mame89]

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

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

[WatChe]

Many people have forgotten the rule of not investing more than you can lose and many have also concluded that losing is impossible. No matter how friendly the market might be, once in a while it gives us some surprises. So, it is ideal that one should have a stable source of income before investing in bitcoin.

No matter how we twist the matter, you must have, then invest before you earn. If you rely on the funds for day to day expenses for investment, you will end up being devastated and you keep withdrawing your investment even when it's not matured.

In other words one must a solid road map before he jumps into any investment. In crypto only if you have proper knowledge prior to investment only then you can win here. There are moments when Bitcoin goes bearish and your investment may struck for indefinite period. If you have plan of what to do in such bearish market only then you can survive otherwise you will end up withdrawing your money on loss. Only invest what you have extra, don't invest money you need for daily living.

[AnonBitCoiner]

Yes true as job is very important and one should think bitcoin as part time job and select when he has another source of getting cash. Completely dependent on bitcoin will not be advantageous as it is risky so you will loss your invested money too instead of profitable results.

Job is necessary as if market goes downs then management of your abilities will not be effect because of constant salary. Other thing is that you can save some percentage of income for investment and will not be a include in those individuals who are taking loan for such purpose.

[Rengga Jati]

When you don't have anything else to fall back on, after asking your brothers or sisters in the family to give you some money for investment, what will you do when you get the Bitcoin? You need to live, you will have desires to buy things, and you will panic if the market move downside even more..

All this will happen because you have no job secured, as a beginner, before investing in Bitcoin, make sure you have a job or source of income, it will make the journey of accumulation to be easier and less bothered about the market behavior.

There are several things that must be considered before we invest in something, including Bitcoin.

1. Invest when you really can and are willing to invest, not to force it, let alone make it difficult for yourself because of investment, especially this is risky.

2. Money management is a very important thing in life, so money can be controlled for daily needs, [education, monthly, and other needs that are issued continuously, as well as reserve money. If it is possible for other money to be invested, yes, you can set it aside, but not to force it.

3. Invest in Bitcoin using free money, which means that the money is devoted to investing, according to the amount you can afford to loose, this money is not used for other purposes.

[Fullcoinese]

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.

yes, you are right the OP is just reminding and giving advice so that everyone who wants to be involved in investing in Bitcoin should have a steady income or stable income first, so they don't need to worry and they don't even have difficulty buying Bitcoin and meeting their daily needs.
because maybe there are still some beginners who still think that investing in Bitcoin will get fast returns and multiple profits in an instant, so there are still many beginners who lack knowledge who put in all their money just to invest in Bitcoin. as well as the OP's suggestion that we can also avoid investing by borrowing from other people because we already have stable income from our work.

[posi]

Yes true as job is very important and one should think bitcoin as part time job and select when he has another source of getting cash. Completely dependent on bitcoin will not be advantageous as it is risky so you will loss your invested money too instead of profitable results.

Job is necessary as if market goes downs then management of your abilities will not be effect because of constant salary. Other thing is that you can save some percentage of income for investment and will not be a include in those individuals who are taking loan for such purpose.

Bitcoin is just a highly volatile asset, it should only be used as an investment and in investment, there will be losses and gains. It cannot guarantee us a steady return, so even if investing in bitcoin gives us a higher return than other jobs, it should only be considered a side job and not a main job. But many people have a misconception that bitcoin is a job, and they think that investing in bitcoin is very easy to make a profit. And with that profit, they will easily have a leisurely life without working as hard as other jobs. These misconceptions come from newbies and lazy people who don't want to work hard but always want a good salary.

[Mauser]

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.

It's true, having a job with a regular monthly income is much more important that buying a few hundred USD worth of bitcoin. Having a small crypto portfolio is not going to much us rich, even if we trade well and make 50-100% return in a year is not going to let us live independently. The first step should always be finding a job that pays us decently and let's us save money every month. Once we have free disposable income that is not borrowed or needed for medium term purchases, we can start buy crypto currencies regularly. Like that we will be able to build a crypto portfolio much faster. To live off a investment portfolio alone we first need the foundation to start investing. Without any savings it's hard to make large returns.

[bayu7adi]

It's true, having a job with a regular monthly income is much more important that buying a few hundred USD worth of bitcoin. Having a small crypto portfolio is not going to much us rich, even if we trade well and make 50-100% return in a year is not going to let us live independently. The first step should always be finding a job that pays us decently and let's us save money every month. Once we have free disposable income that is not borrowed or needed for medium term purchases, we can start buy crypto currencies regularly. Like that we will be able to build a crypto portfolio much faster. To live off a investment portfolio alone we first need the foundation to start investing. Without any savings it's hard to make large returns.

Is it necessary to be wealthy beforehand in order to purchase cryptocurrency and secure a prosperous future?

However, bear in mind that the disparity between the initial release price of Bitcoin and its current value is incredibly vast. Even if someone had set aside a mere $2 to acquire BTC thirteen years ago, undoubtedly, their assets would have grown exponentially.

Acquiring a small amount is not an issue, as long as one does not pin all their hopes on that modest investment. Working diligently remains the optimal solution to ensure your needs are met, allowing you to lead a longer and more fulfilling life.

[Mr.suevie]

Many people have forgotten the rule of not investing more than you can lose and many have also concluded that losing is impossible. No matter how friendly the market might be, once in a while it gives us some surprises. So, it is ideal that one should have a stable source of income before investing in bitcoin.

No matter how we twist the matter, you must have, then invest before you earn. If you rely on the funds for day to day expenses for investment, you will end up being devastated and you keep withdrawing your investment even when it's not matured.

In other words one must a solid road map before he jumps into any investment. In crypto only if you have proper knowledge prior to investment only then you can win here. There are moments when Bitcoin goes bearish and your investment may struck for indefinite period. If you have plan of what to do in such bearish market only then you can survive otherwise you will end up withdrawing your money on loss. Only invest what you have extra, don't invest money you need for daily living.

This is the mistake young crypto enthusiast always do well sometimes it actually because of how they even got to know about Bitcoin in the first place because some of these so called early must have heard about Bitcoin in the wrong way because most people heard about it through testimony of big time investor without properly going to do their research so they felt if they  invest in Bitcoin they can also make such profits because they see it a get rich scheme.

[Tony116]

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Before we invest in Bitcoin, we have to get a job. I believe that even if we don't have a job right now but have money to invest in Bitcoin, we can do so. The negative is that if you don't have a job, there's a chance you would be able to use the money you invested, especially if there's an emergency. That is why most people advise getting a job before investing. Aside from that, if you know you're going to invest in shitcoins from the start, you must cancel it. You are aware that shitcoins were caused by hype and that following a dramatic rise, they will crash. Therefore, make sure you invest in top alts with a higher potential ROI to avoid this kind of stuff.

We need money for daily needs and emergencies, so even if you have savings but are unemployed, you should not invest in bitcoin. Money is used for a lot of important things, not just to invest in bitcoin, and Bitcoin is not a 100% guarantee of you a bright future without risk. To me, it would be foolish greed for an unemployed person to invest in bitcoin and hope it will give them a rich life without working.

Investing in top altcoins does not guarantee you the same safety as bitcoin, all altcoins are the same risk. As long as you know what you're doing with your money and are willing to take the risk, you can invest it anywhere you think has the potential to be profitable. I am one of those who have made a significant return on investment in PEPE, and I think you are no stranger to that memecoin.

[Wiwo]

There is this local adage in my country that says,  somebody that they are fed does not keep a dog.

This simply means that when you are being taken care of you can't add an additional burden since you cannot find your responsibility,  same way with investments,  investments are for those who are financially stable and not for dependents.

I wonder how someone who does not have steady streams of income will invest in a volatile asset like Bitcoin that requires long-term holding,  because how then do you expect the ops in question to feel when Bitcoin prices drop significantly?

[puloweh555]

Is it necessary to be wealthy beforehand in order to purchase cryptocurrency and secure a prosperous future?

However, bear in mind that the disparity between the initial release price of Bitcoin and its current value is incredibly vast. Even if someone had set aside a mere $2 to acquire BTC thirteen years ago, undoubtedly, their assets would have grown exponentially.

Acquiring a small amount is not an issue, as long as one does not pin all their hopes on that modest investment. Working diligently remains the optimal solution to ensure your needs are met, allowing you to lead a longer and more fulfilling life.

I think they don't have to be rich to start investing in cryptocurrency. Because there are still many strategies for them to invest by buying bitcoin or cryptocurrency in stages with the same period and the same amount. Even though their monthly income is small, they can save money from their remaining income to buy Bitcoin, but of course, they have met their daily needs. That's why it's very important to manage your finances to stay healthy even with a small income.

Because in my opinion, no matter how small our monthly income is, we still have to prioritize investment for the long term. By doing the DCA strategy of buying cryptocurrency every period, the habits we will follow. Because bad habits will gradually erode because we always prioritize investment. examples of habits that must be changed are wasteful, showing off, buying things that are not necessary, etc.

[flyingcarpet]

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..

Newbies or Beginners, who are aiming to start buying Bitcoin for future sakes, I want you to take this advice very seriously, do not start your Bitcoin investment living under a roof that still feeds you, it could work but it will make things to be more difficult for you.

When you don't have anything else to fall back on, after asking your brothers or sisters in the family to give you some money for investment, what will you do when you get the Bitcoin? You need to live, you will have desires to buy things, and you will panic if the market move downside even more..

All this will happen because you have no job secured, as a beginner, before investing in Bitcoin, make sure you have a job or source of income, it will make the journey of accumulation to be easier and less bothered about the market behavior.

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.

I fully agree with you, people should be very aware of what they are doing before investing in bitcoin, does not rush as it is an issue that requires strategy and good foundations... what is the use of getting into debt to obtain bitcoins if you are in constant anguish due to market volatility and the need to have to cancel that money as soon as possible, also knowing (if you are well educated on the subject) that the  investments in bitcoin take tim, so you do not get what you expect in a short period of time and it is not only that, but the people who carry out this type of action can even end up on the street because they do not have a way to cancel their debt, they lose everything completely... so it seems to me that it is a maneuver that is not worth executing, it is better to go the safe path so that in this way the results are very different from the previous scenario.

Academics say, "Knowledge is power." This mindset gives us control over our Bitcoin investments. You're right - a plan needs solid foundations. Debt to invest in risky assets is like sailing without a compass.

I feel terrible for debtors who are stressed by Bitcoin's volatility. However, Bitcoin's value could rise over time. Over the past decade, big financial companies have increasingly used it. I understand. Short-term aims can end in disastrous acts.

Bitcoin's technology is amazing. Its a decentralized cryptocurrency. "Digital gold" is valuable for the same reasons as real gold. Know what this means and modify with patience and smarts to invest in Bitcoin securely.

Investing with debt is wrong in my opinion. Crypto is a market with risks. Therefore, when you both borrow and invest, you run the risk of being in trouble. For those with short-term goals, I suggest they research what the market has been up to before. Bitcoin hasn't upset anyone in the long run, but I can't say anything for the short term.

Knowledge is power when used correctly. Many people know that bitcoin will rise after a certain time. But investing with this knowledge is not right. Until the time when Bitcoin will rise, it will fall many times and experience different scenarios.

We should proceed in a planned manner and invest in bitcoin regularly if we can. As it is said in the subject, we must first find a job and make our investment with a part of the income we get.

[Sanitough]

You’re right with this mate. People don’t need to invest if they will only use their last money left, I mean an amount that is intended to pay the bills or buy the necessities instead. Not just for bitcoin, but in all types of investments, it is a must that you need to invest using your extra money. Otherwise, if you secure your investment first more than a stable job or a a secured source of income, yes you will profit at first but eventually, you will also use those profits to pay the bills or buy goods and services that you need, which means you cannot save after all from your investment profits.

[Wakate]

You’re right with this mate. People don’t need to invest if they will only use their last money left, I mean an amount that is intended to pay the bills or buy the necessities instead. Not just for bitcoin, but in all types of investments, it is a must that you need to invest using your extra money. Otherwise, if you secure your investment first more than a stable job or a a secured source of income, yes you will profit at first but eventually, you will also use those profits to pay the bills or buy goods and services that you need, which means you cannot save after all from your investment profits.

This is the mistake many investors are making making them to finally make loses after they've sold there Bitcoin because they ni longer wait for the market to go up for them to sell and make there money. Those who understand how the market is will try to invest with fund that they don't need or there savings. When people force themselves to invest in Bitcoin, they may end up using funds that are not supposed to be used for investment especially when the fund is meant to pay bills and for transportation. Those who understand how to invest will not make silly mistake at the end.

[Viscore]

Indeed. Secure a job first, then next is your investment. That way, even if you experience consistent losses at your first attempt, that won’t matter that much to you because you only invest using spare money. And never forget that any investment won’t guarantee secured and stable profits, so you can’t consider it as a stable source of income like a stable job will do. So earn from your job first and when you’ve gained enough money to invest, then invest at your own risk.

[Distinctin]

Well said dude. Securing a stable job first should be our topmost priority knowing we need to spend on our basic needs and necessities so we can survive and live life as it is. Investment should only come next to our job, since it’s best to invest from our hard-earned money than to simply borrow our capital and then see ourselves struggling paying for that principal with high interest. At least, if we invest using our own funds then we won’t be bothered at all if ever we end up losing our capital as there are always inevitable losses especially if we invest without prior experiences.

[serjent05]

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

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The way I understand @OP concept is that one must have a stable job before investing in bitcoin, which I fully agree.  If there is no one supporting a person and he is only by himself, any investment on  Bitcoin will be a waste if he don't have a steady source of income because in time when he has nothing left, he will be forced to sell his holding prematurely which may cause losses.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

Regardless, invest only when one is able to support himself without touching his investment.  This way, the person has all the time to wait for his investment to produce profit.

[Dr.Bitcoin_Strange]

It's obvious that's what most Bitcoiners in the crypto space do. I agree that one must have a sustainable source of income (a real job or business) before they can dream of having a healthy Bitcoin investment; otherwise, it would just be like some kind of story heard along the roadside. Although it's very possible that one can invest with the money they received from friends and relatives or from their parents, if it ceases to come from their benefactor, that means they will have to sell off what they have invested, and it could be that they will even sell at a loss. I agree with you, OP.