think before investing

[Crypt0Gore]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

This is very hard to believe, it's like you made this up OP, I said this because how can someone who know nothing about crypto and Bitcoin investment knows how to operate a crypto exchange?

Operating a crypto exchange is always a living hell for newbies, I had to watch YouTube videos before I can do trading on exchange.

You said he sold his properties for Bitcoin investment, how did he exchange his Fiat to Bitcoin if he didn't know how to trade? Your story is unclear.

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[NomadTheSavior]

Like others said he lost his money trading not investing in Bitcoin. If he just bought and held he would do very well as long as he holds it for a good amount of time. Better yet hold it forever because soon things will be more commonly bought in crypto instead of fiat.

[bangjoe]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

This is very hard to believe, it's like you made this up OP, I said this because how can someone who know nothing about crypto and Bitcoin investment knows how to operate a crypto exchange?

Operating a crypto exchange is always a living hell for newbies, I had to watch YouTube videos before I can do trading on exchange.

You said he sold his properties for Bitcoin investment, how did he exchange his Fiat to Bitcoin if he didn't know how to trade? Your story is unclear.

Maybe the story is quite short so it's like a made-up story or making it up but to be honest I found people like this in my neighborhood, he saw his neighbor succeed because of investing in bitcoin, which made him interested in investing in bitcoin, but he didn't know how to make a profit from investing in bitcoin so that made him lose.
Regarding how to exchange fiat into bitcoin, it's quite easy, because some exchanges today can make deposits through regional banks, so I think for cases like this it's quite easy, or you can find out via Google how to make a deposit on a particular exchange then how to exchange it for bitcoin , it's very easy to do, and maybe he just does something like this, but he doesn't find out how to get profit from investing in bitcoin.

[lepbagong]

Investing does have risks. However, your friends can learn from their mistakes and think more carefully before investing. and knowledge is the most important thing before starting anything.

What do you mean by investing does not have risk?
Their is no investment in this life that entirely risk free, even Bitcoin is not risk free but to some extent it the risk is lesser compare to other form of investment (other crypto currency I mean) .
Knowing when to enter the market at the risk price, is a risk reduction, knowing how to safe keep your Bitcoin is also part of risk reduction, but when one don't know how to do all of this, then he might experience a greater risk why holding Bitcoin.

Not only in making an investment, you will experience risk; every action we take will also experience risk, so it is true that all risks can be minimized in such a way by continuing to study and knowing the character in which we are going to invest, so that there is the ability to be more careful in action.I agree; the same goes for investing in bitcoin. There will still be risks, but the possible risks will be smaller compared to other investments because investing in bitcoin has been tested and always provides proper profits. patience, don't panic quickly, and it takes enough time because investing in bitcoin is indeed a long-term investment.Once again, learning all the time about the characters involved in investing in bitcoin and what actions will be taken is very important and must be constantly updated because developments are always changing rapidly. All of these will be experiences that might be useful in action.

[Nwada001]

Like others said he lost his money trading not investing in Bitcoin. If he just bought and held he would do very well as long as he holds it for a good amount of time. Better yet hold it forever because soon things will be more commonly bought in crypto instead of fiat.

I agree with you in the aspect of holding. There is a very high possibility of not losing a cent in holding his bitcoin, provided that they don't sell under panic below the actual purchasing price. But let us not forget that holding for a long period of time is also not risk-free, as there are things to be put in place before you can consider your holdings safe.

You need to at least make sure that your holdings are not under any third-party platform or any form of centralized system where you, as the user, don't have the key to the wallet. Another thing is looking for a well-secured wallet (hardware is preferable). and safe keep the key access to the wallet; if you lose access to it, there might be no chance of getting your funds out, and also avoid clicking on suspicious links in order for you not to get hacked and your wallet compromised.

[GbitG]

The main reason for losing money in the cryptocurrency space is a lack of knowledge, and most people don't care about it. If a person didn't have proper knowledge and wasn't aware of the basic concepts of cryptocurrency, it is certain that he would lose all of his money. Investing in Bitcoin is a very well-being idea, rather than job business, etc., but if you don't have knowledge about how market dynamics, manipulation, strategy, etc. work, it's awful to invest in it.
In my opinion, if we want to get involved in the cryptocurrency space, we will try to educate ourselves about it, which is what follows. but I will explain a few of them.
‣ Understand the basic concepts of cryptocurrency.
‣ Research about the previous and current uses of coins
‣ Market volatility, capitalization, dominance, and dynamic
‣ Only invest what you can afford.

[HONDACD125]

Like others said he lost his money trading not investing in Bitcoin. If he just bought and held he would do very well as long as he holds it for a good amount of time. Better yet hold it forever because soon things will be more commonly bought in crypto instead of fiat.

I think you have neither read nor tried to understand his post properly. His friend has lost money by trading in Bitcoin, because his friend did not know much about Bitcoin. Wherever investment is made, the aim is to get good returns, but thorough knowledge and experience about it is very important. Anyone who buys Bitcoin does not intend to hold it forever, but rather sell it at a reasonable profit. Price is always fluctuating in cryptocurrency market, good entry in bear season and buying in bull season give us good profit. This is the best strategy for profit. It is a good stratagi to hold after buying Bitcoin but it is also very important to see where the entry is.

[stomachgrowls]

Investing does have risks. However, your friends can learn from their mistakes and think more carefully before investing. and knowledge is the most important thing before starting anything.

What do you mean by investing does not have risk?
Their is no investment in this life that entirely risk free, even Bitcoin is not risk free but to some extent it the risk is lesser compare to other form of investment (other crypto currency I mean) .
Knowing when to enter the market at the risk price, is a risk reduction, knowing how to safe keep your Bitcoin is also part of risk reduction, but when one don't know how to do all of this, then he might experience a greater risk why holding Bitcoin.

Not only in making an investment, you will experience risk; every action we take will also experience risk, so it is true that all risks can be minimized in such a way by continuing to study and knowing the character in which we are going to invest, so that there is the ability to be more careful in action.I agree; the same goes for investing in bitcoin. There will still be risks, but the possible risks will be smaller compared to other investments because investing in bitcoin has been tested and always provides proper profits. patience, don't panic quickly, and it takes enough time because investing in bitcoin is indeed a long-term investment.Once again, learning all the time about the characters involved in investing in bitcoin and what actions will be taken is very important and must be constantly updated because developments are always changing rapidly. All of these will be experiences that might be useful in action.

On every investment, there's always that accompanied risks on which it would really be just that so normal that you would really be needing up to deal with it and wont really be making yourself that blinded nor not be wary

about on the things that must done or should really be for you to follow on. Thinking before investing? It is really just that common sense or something that you would normally be that doing because you cant really just that afford or make yourself that losing the money that you had put on. Its impossible that people would be making out such step without those consideration on which this is why it would really be just that normal that we would really be having that kind of action to be made. It is really just that depending on how someone would really be seeing this and act accordingly.

You cant just rushly make out some decisions without thinking because it would really be that prone to errors or mistakes on which it would really be resulting into a disaster. We dont really like to lose
money and this is why it s really just that right that we should really do our assignment and would really be that act accordingly or sensibly.

[Mr.suevie]

Like others said he lost his money trading not investing in Bitcoin. If he just bought and held he would do very well as long as he holds it for a good amount of time. Better yet hold it forever because soon things will be more commonly bought in crypto instead of fiat.

I think you have neither read nor tried to understand his post properly. His friend has lost money by trading in Bitcoin, because his friend did not know much about Bitcoin. Wherever investment is made, the aim is to get good returns, but thorough knowledge and experience about it is very important. Anyone who buys Bitcoin does not intend to hold it forever, but rather sell it at a reasonable profit. Price is always fluctuating in cryptocurrency market, good entry in bear season and buying in bull season give us good profit. This is the best strategy for profit. It is a good stratagi to hold after buying Bitcoin but it is also very important to see where the entry is.

Another vital thing to consider when buying Bitcoin is about the person job status because if you are the type of person that has only job and of which payment or salary is not that good then  having or saving your Bitcoin will be stressful because there would be couple of times in which you will be tempted to actually sell of your coins or a portion of it when you are faced with some kind of difficult situation which is why securing a job is very much important if you are really serious about the having so value in my walk.

[Agbe]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

Op your story looks fabricated. How can someone buy bitcoin without having the basic knowledge of it. That is ridiculous. If someone heard that bitcoin can give profit and the first thing he can do is to enquire from others and not to sell properties and invest on something that you don't have knowledge in it. How can someone learn bitcoin after investing. That is opposite of the whole scenario.

[serjent05]

>> that was a very stupid move to sell property to invest in anything specially high volatility asset like bitcoin.

In a scenario when Bitcoin is around $100  and you sold one of your property to buy Bitcoin and hold it until now, can you consider it stupid?

>> After selling property and losing all no can be happy after just learning about bitcoin, i don't know how your friend is happy after losing his property and without recovering his losses.

It is possible that his friend recover his losses according to the made-up story, his friend told the scenario to @OP and @OP teaches him to trade Bitcoin properly and the friend is doing fine after the lessons.

>> Once an incident like this was happened to me a lady asked me on instagram how to make money by bitcoin, the lady was so dumb and lazy to learn about bitcoin... she just knew that "bitcoin=money" she just knew the name "bitcoin". and didn't know anything about bitcoin asking me how to make money with bitcoin.

The lady is not dumb, he asked you about Bitcoin meaning she is working her ass to ask someone whom she thinks is knowledgeable about Bitcoin and hoping for the chance that you teach her about what you know about Bitcoin.   Who knows, the lady probably had researched about Bitcoin and wanted to learn extra knowledge by asking other people.  He wouldn't be interested if he have not known other people earning money in Bitcoin investments.

[anjiitem]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

I wonder how someone could do such a reckless thing. He is willing to sell his property to trade Bitcoin but has no understanding of crypto trading?.
Your friend is completely complete in terms of carelessness. Don't have a goal, don't have a plan, can't think of a risk, then when he lose he regret it. How ironic if that's true.
Is he a gambling addict and is advised to try trading? His actions that do not think about the risks and origins in selling the property are like the behavior of someone who is addicted to gambling.

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

I'm not sure someone with that mindset will be successful in trading or investing. It's not that I'm underestimating, but from the start if your friend's mindset is like what you describe then it won't go well because changing someone's mindset is not an easy and fast thing.

[cafter]

In a scenario when Bitcoin is around $100  and you sold one of your property to buy Bitcoin and hold it until now, can you consider it stupid?

>>No one can predict what the future will be? of a particular asset in it's early stage, if you don't know what will be going to happen in future then and sold your property then it's a very stupid move. selling property means 30%,40%,50% of you networth in very risky asset like bitcoin.

It is possible that his friend recover his losses according to the made-up story, his friend told the scenario to @OP and @OP teaches him to trade Bitcoin properly and the friend is doing fine after the lessons.

>>how will anyone will recover his losses(about 30%/40%/50% of their networth) specially in bear market. and his friend obviously taught about how to buy bitcoin and hold it and how to sell, what is bitcoin, etc.

The lady is not dumb, he asked you about Bitcoin meaning she is working her ass to ask someone whom she thinks is knowledgeable about Bitcoin and hoping for the chance that you teach her about what you know about Bitcoin.   Who knows, the lady probably had researched about Bitcoin and wanted to learn extra knowledge by asking other people.  He wouldn't be interested if he have not known other people earning money in Bitcoin investments.

>>the lady was obviously dumb (because i know full story what happened with me) she was asking me to how to make money with bitcoin, she just knew that bitcoin means extra free money which is not true. she told me she already given money to too many instagram influencer to make money by bitcoin, means she already spent so many time to find "bitcoin = free money". if she was not dumb instead smart or average person then she should gone on google or youtube and watched a video about bitcoin to learn. many lazy dumb people want easy money they don't want to learn anything after being scammed by fake influencers.

you are just trying to show in little brain by seeing my rank because i was trying to tell in less words.

[stepwilli]

The very first wrong decision he took was to sell his house to invest the money in Bitcoin which is never recommended option no matter how much potential Bitcoin has. One has to only invest what they have as spare money into things like cryptocurrencies because there is basically no guarantee as to when you might get something on top of it or even get your actual money back since the market is extremely volatile and unpredictable as well which makes it difficult for everyone.

And then he invested or traded the money in the market without gaining any knowledge beforehand which is basically the recipe for disaster for a newbie. You cannot gain profits from the cryptocurrency market if you don't even know how the market works and how you can do all the things.

[Xampeuu]

The very first wrong decision he took was to sell his house to invest the money in Bitcoin which is never recommended option no matter how much potential Bitcoin has. One has to only invest what they have as spare money into things like cryptocurrencies because there is basically no guarantee as to when you might get something on top of it or even get your actual money back since the market is extremely volatile and unpredictable as well which makes it difficult for everyone.

And then he invested or traded the money in the market without gaining any knowledge beforehand which is basically the recipe for disaster for a newbie. You cannot gain profits from the cryptocurrency market if you don't even know how the market works and how you can do all the things.

bitcoin trading becomes very dangerous for those who lack knowledge, but sometimes we feel like we want to act immediately, so we don't miss the moment. therefore the things that need to be considered in outline are bitcoin being the main choice in investing, and patiently holding it until a bull run occurs, I think if beginners even though they have little knowledge of practicing it will be safe. the problem is that people tend to get dazzled by new projects that can pump up thousands of percent

[MFahad]

in investing, we really have to prioritize knowledge first, of course, so that there is no potential for greater losses, but in my opinion, sometimes experience makes a person more mature and learns from experience, like what op friends do in the end he can become a good investor and of course because in guided by op
finally op's friends know how to invest properly.

This is also true because mistakes are for learning and we will be able to avoid mistakes if instead of becoming worried we learn from it. His friend learn well and I hope he will getting good profit but make the foundation of house again is something hard and will takes time.

So it is necessary for us to initially not involved in such activities which become risk for us instead of achievement. If the friend of OP was able to think that selling house is not a good option as it is for our living so without decision of selling house he could also learn but people don't think and make wrong decisions blindly which is a big cause of failure.

[Mr.suevie]

Like others said he lost his money trading not investing in Bitcoin. If he just bought and held he would do very well as long as he holds it for a good amount of time. Better yet hold it forever because soon things will be more commonly bought in crypto instead of fiat.

It's much easier said than done, investing in Bitcoin requires strategy and planning if not you might end up just selling all your coins due to various factors like fear of dip and satisfaction of daily needs that's if you don't have others means of getting income and I said this because most people just believe that having a Bitcoin investment secures your financial life.

[AGogi2003]

My perspective and understanding of Bitcoin is that you should learn about it before investing or trading because it is volatile and the price can change at any time. If you are new to cryptocurrency, you should invest rather than trade. Because of the possibility of resuming losses, it is not suggested to sell your property and invest in Bitcoin. It is preferable to have a source of income so that if the market does not perform well, you will not suffer as much. It is preferable to invest just what you can afford to lose. Based on my limited research and knowledge of Bitcoin, I believe that an investment such as Bitcoin is the most reliable.

[Oilacris]

The very first wrong decision he took was to sell his house to invest the money in Bitcoin which is never recommended option no matter how much potential Bitcoin has. One has to only invest what they have as spare money into things like cryptocurrencies because there is basically no guarantee as to when you might get something on top of it or even get your actual money back since the market is extremely volatile and unpredictable as well which makes it difficult for everyone.

And then he invested or traded the money in the market without gaining any knowledge beforehand which is basically the recipe for disaster for a newbie. You cannot gain profits from the cryptocurrency market if you don't even know how the market works and how you can do all the things.

bitcoin trading becomes very dangerous for those who lack knowledge, but sometimes we feel like we want to act immediately, so we don't miss the moment. therefore the things that need to be considered in outline are bitcoin being the main choice in investing, and patiently holding it until a bull run occurs, I think if beginners even though they have little knowledge of practicing it will be safe. the problem is that people tend to get dazzled by new projects that can pump up thousands of percent

Not only limited on Bitcoin trading but also in other market as well on which investing is never been that simple or risk-free, there's always that risk of losing money.Therefore, you should really be needing

to plan and make that analysis before you do proceed because if not then you would really be finding yourself on huge trouble or headache on the time that you would be finding out that you are really that taking some reckless steps on which would be causing for you to have losing funds or investment.This is why we should really be that wise and be mindful on every step that we would make.
We are all starting on being a newbie which is really that casual or something that really in default.We cant really just make things that goes on what we do have in our mind, everything
would really be a challenge specially if we are dealing with the market on having that extreme volatility.

[Ricardo11]

Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money