Beginners, you don't need Bitcoin first

[landheer]

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.

I agree with what you said, it is true that work in the real world is very necessary and can be called one of the conditions for investing in BTC so that it is safe and calm when investing in BTC, because if our already have a real job our will usually invest in BTC using idle money which of course will make our mind calm.

[HONDACD125]

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.

You have a very good suggestion that one should have another source of income before investing in Bitcoin. Never rely solely on the crypto currency market for your spending. Bitcoin is a good crypto currency for investment and a great long-term option for anyone with capital, but having another business or job with Bitcoin investment is very important. Crypto currency Market is a Volatile Market There are constant fluctuations in the market due to which relying only on Crypto currency Market can lead to losses. Therefore, if the savings from other sources of income are invested in Bitcoin and are made with a long-term investment in mind, then there can be a good return in the future. The money you need should never be invested in the crypto currency market. Always invest your saved capital or excess capital in the crypto currency market.

[Inwestour]

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.

Any loss of money will be significant, it is not easy to generate capital for investments and it is even more difficult to realize that an investment has brought losses, not profits. Therefore, we must be concerned that the initial investment is as reliable as possible. After all, if the initial attempts to invest become unprofitable, then this can ultimately demotivate beginners to continue doing it.

Therefore, any unsuccessful investment will be significant, and when a beginner has some capital to invest, it is important to buy bitcoin, and not try to buy altcoins, in order to protect yourself from unnecessary risks.

Whether it is worth buying now, or perhaps waiting for a correction to follow, this question is difficult to answer, everyone must make their own decision, but bitcoin still looks promising for long-term investments.

[Russlenat]

It's hard to accept but it is the harsh reality. I have also met many people even I am included. Who tries to invest in BTC or Trade in BTC in the hope of making money out of it. The funny thing is we are using the money that's is all we have and starting with zero knowledge.

I mean, in this situation if the market will come down then obviously the trader/investor will panic trade. And will face loss too. So, to keep your mind relaxed and to avoid yourself from all the market sentiments, a source of income is necessary. It's not that compulsory but I would say it's the best practise to have a source of income before investing in BTC or any other currency.

For me, I would say it’s definitely necessary to have a stable job first before you decide to invest, so that if ever things do not work as planned, your finances will never break out. I know a lot have experienced investing without a stable source of income maybe because of greed and the goal of making instantly rich, but I must say a lot of them fail too and end up losing their capital especially when investing in a very volatile market like bitcoin. That’s the reason why getting a job first is much important than having an investment, because your job will secure fixed and stable income while your investment does not guarantee fixed returns or profits.

[xSkylarx]

It's hard to accept but it is the harsh reality. I have also met many people even I am included. Who tries to invest in BTC or Trade in BTC in the hope of making money out of it. The funny thing is we are using the money that's is all we have and starting with zero knowledge.

I mean, in this situation if the market will come down then obviously the trader/investor will panic trade. And will face loss too. So, to keep your mind relaxed and to avoid yourself from all the market sentiments, a source of income is necessary. It's not that compulsory but I would say it's the best practise to have a source of income before investing in BTC or any other currency.

For me, I would say it’s definitely necessary to have a stable job first before you decide to invest, so that if ever things do not work as planned, your finances will never break out. I know a lot have experienced investing without a stable source of income maybe because of greed and the goal of making instantly rich, but I must say a lot of them fail too and end up losing their capital especially when investing in a very volatile market like bitcoin. That’s the reason why getting a job first is much important than having an investment, because your job will secure fixed and stable income while your investment does not guarantee fixed returns or profits.

Only those success stories that we heard off, but again, there are tons of people who lost and were not able to succeed. It is really better to have security first, like your job or other source of income that can make you survive even if your investment fails. You should plan it out like plan a and plan b so that if ever the plan goes wrong, you can still fall back, rather than only having one plan, like only investing, and not knowing what you will do if your investment isn't successful.

[Weawant]

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.

You're right and from the advices I have seen on the forum, it looks like if you're not investing you're doing something wrong meanwhile people don't realized that not everyone has equal financial power. We have people that if they invest what they have they won't have anything left.

It's not a must to invest in Bitcoin and it isn't a must to invest now. If you're not ready to invest then don't do it because if you allow yourself to get pressured into investing, while others are okay when the market is dumping, you won't be at peace because you can afford to lose.

Bitcoin investment is risky when you don't have the patience to hold for as long as it takes for you to become profitable, you'll lose your capital when you sell and that can lead you into having doubts about future investment to trap you at the position you're financial forever.

[Blitzboy]

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.

You're right and from the advices I have seen on the forum, it looks like if you're not investing you're doing something wrong meanwhile people don't realized that not everyone has equal financial power. We have people that if they invest what they have they won't have anything left.

It's not a must to invest in Bitcoin and it isn't a must to invest now. If you're not ready to invest then don't do it because if you allow yourself to get pressured into investing, while others are okay when the market is dumping, you won't be at peace because you can afford to lose.

Bitcoin investment is risky when you don't have the patience to hold for as long as it takes for you to become profitable, you'll lose your capital when you sell and that can lead you into having doubts about future investment to trap you at the position you're financial forever.

You dont have to buy Bitcoin or other digital assets. Its not a sign of financial maturity or adulthood. Dont get me started on those self-proclaimed experts preaching their "not invested yet?" Shame!" mantra on every forum. Its like they live in a parallel universe where everyone has enough of money.

To each their own. Financial power, risk appetite, and life ambitions are as distinctive as fingerprints. Therefore, forcing everyone into a single investment strategy is illogical and destructive.

People are drawn to Bitcoin because they believe in its decentralisation and transparency. Why not dip your toes in if you sense the call and your pocketbook is ready? Until then, let the market dump or pump.

[TheUltraElite]

Only those success stories that we heard off, but again, there are tons of people who lost and were not able to succeed. It is really better to have security first, like your job or other source of income that can make you survive even if your investment fails. You should plan it out like plan a and plan b so that if ever the plan goes wrong, you can still fall back, rather than only having one plan, like only investing, and not knowing what you will do if your investment isn't successful.

I would never say that a person should go all in on crypto. A stable income source is like a lifejacket keeping you afloat during time of crisis and bear markets. Use the income from the job as a stable source of money to pay for the expenses and savings while keeping enough to allow you to invest and take riskier positions on crypto.

The stable job is always the first option and for that a person needs education and skills. Hence the path is laid of simply as education, skills followed by a job and then investments in parallel.

Otherwise when the market falls, you will be devastated about how to feed yourself.

[PeRo]

I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

[Blitzboy]

I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

Bitcoin shouldnt replace a regular income, especially for new users. Before adding storeys, you must construct a sturdy foundation. Bitcoin investments are the extra storeys on top of a consistent income.

I find it intriguing that skills or services may earn Bitcoin. Its intriguing to turn time, our most precious resource, into Bitcoin. New Bitcoin users can join the movement without risking their money.

Bitcoin is a currency and an investment, yet we often overlook that. We encourage Bitcoin's use and value as a global, independent currency by exchanging it for products and services

[Vaculin]

While you can earn bitcoin with your large amount of money, but the problem is how can you sustain owning it with its unpredictable and changeable price that anytime it will reach its lowest price and you’ll end up seeing yourself in panic wishing you did not invest in the first place because you will only lose in the end.

However, if you have a job and do investing as your side hustle, then regardless if you suffer from losses which I think part of investing, you will never totally experience the stress and all its difficulties because you still have your job to count on, even if your investment is not working in progress.

[Finestream]

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

[serjent05]

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.

I wonder how could this become an unrest of mind.  Remember the money is already yours and you have all the right to spend it elsewhere.  Aside from that, if this is an allowance, then it is a sure thing that you will be getting more in the future.  I still believe as long as there is someone supporting us financially (being a student or under family care) it is always best to spend money to investments especially Bitcoin since we know sooner or later Bitcoin will increase in price which can give us profit in the future.  As long as we are only investing the surplus of the allowance given to us, I do not think there will be such unrest as stated by @OP.

We should take advantage of living under the support of our parents since we don't have to worry about anything.  It is the best time to buy and hold.

[Mr.suevie]

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

First of all only a fool will rely on their Bitcoin investment as a remedy to their financial problems because Bitcoin isn't something that yeilds profits on a daily basis  so why would choose to rely on it instead of getting a job that pays you and moreover you use the money  worked for to actually purchase Bitcoin so how would you be acquiring more Bitcoin if you don't actually work. Bitcoin investment is meant for future reference and like the name implies "investment", it not something you hope to use at the moment except it calls for it and if anyone wants to actually acquire a good investment strategy then getting a job will be one because that will make you secure your investment so you won't have to temper with it always.

[lousie9]

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

You are right to think about something in excess will be bad or will be greed.
Yes, have a work or have a steady income is the main thing. Investing is a form of effort to get additional income for a long period of time.
I don't know how someone who doesn't work can invest in Bitcoin. that's actually nonsense.
Of course if there is someone who thinks that Bitcoin is the solution to all financial problems and will get profit from investment quickly that is a fatal mistake and it shows that someone does not fully understand Bitcoin.

[Minor Miner]

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

First of all only a fool will rely on their Bitcoin investment as a remedy to their financial problems because Bitcoin isn't something that yeilds profits on a daily basis  so why would choose to rely on it instead of getting a job that pays you and moreover you use the money  worked for to actually purchase Bitcoin so how would you be acquiring more Bitcoin if you don't actually work. Bitcoin investment is meant for future reference and like the name implies "investment", it not something you hope to use at the moment except it calls for it and if anyone wants to actually acquire a good investment strategy then getting a job will be one because that will make you secure your investment so you won't have to temper with it always.

According to what you said, I still see a lot of idiots in the market because I see many people saying that bitcoin can help reduce unemployment if the government accepts bitcoin in their country. They even see bitcoin as a solution to poverty alleviation. If I remember correctly, not long ago there was also a thread on our forum discussing bitcoin investment recommendations for unemployed people. That sounds crazy, how can bitcoin generate daily income for unemployed people?

There are not only many people who misunderstand bitcoin, but also many people who are crazy about bitcoin and worship it blindly. For me, bitcoin is money and to earn money, we need to work and use the money to make money, other than that, I don't see any way to earn more.

[xSkylarx]

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

You are right to think about something in excess will be bad or will be greed.
Yes, have a work or have a steady income is the main thing. Investing is a form of effort to get additional income for a long period of time.
I don't know how someone who doesn't work can invest in Bitcoin. that's actually nonsense.
Of course if there is someone who thinks that Bitcoin is the solution to all financial problems and will get profit from investment quickly that is a fatal mistake and it shows that someone does not fully understand Bitcoin.

It is possible that the person who doesn't work can still invest in Bitcoin using their parents money, but you are right to find an income first before jumping into investing because it is not always guaranteed you'll earn profit. Again, for sure, there are others who think of it mostly in Bitcoin, but later they will realize it. What is really best about Bitcoin mentally is that those who are not strong enough to be invested in it will be leaving as they can't control their emotions due to volatility, which is why those who stay will only earn profit.

[PeRo]

I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

Bitcoin shouldnt replace a regular income, especially for new users. Before adding storeys, you must construct a sturdy foundation. Bitcoin investments are the extra storeys on top of a consistent income.

I find it intriguing that skills or services may earn Bitcoin. Its intriguing to turn time, our most precious resource, into Bitcoin. New Bitcoin users can join the movement without risking their money.

Bitcoin is a currency and an investment, yet we often overlook that. We encourage Bitcoin's use and value as a global, independent currency by exchanging it for products and services

I didn't imply that it should, I kind of cut short my last statement. I was thinking about the younger population who want to get into Bitcoin as they don't even have a main income and are not looking for a 9-5 job yet. It's better to use the time to earn Bitcoin if it is possible and if you want to get into Bitcoin, than just doing a whole lot of nothing with your time.

Of course, older users/adults should make finding a job a priority before investing and after that a lot of learning about the whole thing.

[MarjorieZimmermanGinger]

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.

Although I agree with the views you are trying to narrate, but it never hurts for anyone to buy bitcoins with the pocket money they have. Bitcoin can be purchased according to the capacity of money that is owned and is not forced, what needs to be emphasized is the knowledge about bitcoin that some beginners must understand beforehand if they want to be involved in investing. If you can do both at the same time, it will be much better and if you don't have a job but someone has a large pocket money, there is nothing wrong with getting involved in investing.

The most important thing is being able to be responsible for the investment that is being undertaken and not neglecting other needs first. For example if they are still students or students, the money must be used first to support their education and the rest can be used for investment in the simplest way possible.

[mirakal]

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.

Well, there are also some instances that we get to invest in bitcoin because we received huge amount of money from our inherited assets, and not from our hard-earned money from our job. I think that is a good mindset too, trying to diversify your investments and not just letting your cash sleeps in the bank. However, in case your investments do not worked as planned, and all your savings have started to run out, then you should land a stable job that will sustain your needs before all your investments and hard-earned savings will be gone. But if you can get a stable source of income in the first place, I guess that will help you grow your investments without the need to sell your bitcoin whenever its price suddenly crashed.